ATLANTIC CITY, N.J. (AP) — Casino contraction hit Atlantic City for the second time this year, as the parent company of the Showboat Casino Hotel announced Friday it will close the Mardi Gras-themed casino on Aug. 31.
NEW YORK (Reuters) - Puerto Rico public corporation debt slumped on Friday after a new law that allows agencies to restructure their debts sparked fears of an imminent default and led to a slew of downgrades on the electricity, highway, and water authorities. Debt of the Puerto Rico Electric Power Authority (PREPA) maturing in 2040 and carrying a coupon of 5.25 percent traded with an average price of 45.956 cents on the dollar and an average yield of 12.139 percent, according to Thomson Reuters data. [74526QVX7=MSRB] (Reporting by Edward Krudy; Editing by Chizu Nomiyama)
New York authorities on Friday announced criminal charges against 17 people accused of running an international drug ring trafficking in tons of khat, a leafy plant chewed as a stimulant. The ring allegedly moved the khat across four continents and distributed it in New York, Massachusetts and Ohio, New York Attorney General Eric Schneiderman and New York City Police Department Commissioner William Bratton said. According to the 215-count indictment unsealed in Brooklyn Supreme Court, the khat was obtained in Yemen, Kenya and Ethiopia and shipped to the United States through the United Kingdom, China, Holland and Belgium. "As a result of this international takedown, a sophisticated operation accused of bringing drugs into the United States and sending the profits overseas has been shut down.” Following a nearly yearlong investigation, the indictment charges 17 co-conspirators - from England;
PHOENIX (AP) — A homeless ex-convict has been formally charged with beating a Catholic priest with a metal rod and fatally shooting another clergyman two weeks ago during a burglary at a Phoenix church.