Business Minute: Here is the latest New Jersey business news from The Associated Press - New York News

Business Minute: Here is the latest New Jersey business news from The Associated Press

Posted: Updated:

NEW YORK (AP) - The Port Authority has formally adopted a plan to raise wages for workers at its New York and New Jersey airports. The agency operates JFK, LaGuardia and Newark Liberty airports in addition to smaller airports in both states. The Port Authority's board on Wednesday unanimously approved an immediate $1 hourly wage increase and a raise to $10.10 per hour next year.

NEW YORK (AP) - A discussion over the future of the 3 World Trade Center tower has exposed deep rifts among board members of the Port Authority. The agency has come under criticism for proposing to commit more than $1 billion as a loan guarantee to complete the project. While some board members registered support for the potential deal at a meeting yesterday, board member Kenneth Lipper called it "obscene" and "a scandalous over-reach into the public cookie jar."

NEWARK, N.J. (AP) - Federal prosecutors say New Jersey man who operated a supposed charitable organization instead ran it as an unchartered bank, accepting millions of dollars in deposits which he shielded from state or federal regulation. Moshe Schwartz of Union City pleaded guilty yesterday . Schwartz operated Gemach Shefa Chaim, purportedly to provide interest-free loans to needy members of the Sanz community in Union City.

WASHINGTON (AP) - The number of Americans buying new homes plummeted in March to the slowest pace in eight months, a sign that real estate's spring buying season is off to a weak start. The Commerce Department says sales of new homes declined 14.5 percent last month to a seasonally adjusted annual rate of 384,000. That was the second straight monthly decline and the lowest rate since July 2013. Sales rebounded in the Northeast, where snowstorms in previous months curtailed purchases.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices