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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

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American Airlines boosts profit on higher revenue

FORT WORTH, Texas (AP) — Profit and revenue are up at American Airlines, and the company will share some of the gains with shareholders.

American Airlines Group Inc. said Thursday that it earned a record $864 million in the second quarter, up from the $507 million that American and US Airways earned separately a year ago, before their merger.

Excluding special charges, the company said it earned a record $1.46 billion, or $1.98 per share. Analysts surveyed by FactSet expected $1.95 per share.

Revenue rose 10.2 percent on a combined basis as passengers paid 6.5 percent more per mile for their tickets.

American said that it will pay a dividend for the first time since 1980, buy back up to $1 billion in shares, and spend $2.8 billion to pay off debt and aircraft leases.

CEO Doug Parker said the ability to make those expenditures while buying new planes and combining American and US Airways showed that the merger was a success.

Several big mergers in the past decade have reduced competition and helped the surviving airlines control the number of flights and keep fares up.

American's yield, or the amount that passengers pay per mile in fares, rose 6.5 percent over the same quarter last year. Domestic fares rose more quickly than those on international routes, where competitors have been adding flights.

On costs, American's fuel spending rose nearly 3 percent and labor costs increased 10 percent.

The shares rose 4 cents to $43.37 in morning trading. They began the day up 72 percent in 2014.

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