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Stocks Rebound After Drop in Oil Prices

Wednesday, July 16, 2008

A drop in oil prices helped U.S. stocks rebound today, including U.S. bank stocks, which had their best one-day gain ever.

But one day of positive market performance doesn't mean there aren't serious economic challenges ahead for the financial sector.

WNYC's Bob Hennelly has this report.

Economics professor, ...

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Prices Jumping in New York Area

Wednesday, July 16, 2008

The U.S. Labor Department is confirming today what many shoppers already know - prices are going up in our area. A consumer price analysis for New York and its suburbs found a 4.5 percent jump in the cost of goods from June 2007 to June ...

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Families Get New Service Center in Queens

Wednesday, July 16, 2008

Mayor Bloomberg joined former Yankee manager Joe Torre yesterday to open a new family justice center in Queens. The center is designed to make it easier for victims of domestic violence to come forward by bringing together counselors and legal experts. Torre's "Safe at Home ...

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Housing Advocates Relieved Over Mortgage Firms Bailouts

Wednesday, July 16, 2008

Local housing advocates say they're relieved that the Treasury Department and the Federal Reserve have intervened to keep Fannie Mae and Freddie Mac solvent.

Sarah Gerecke of the not-for-profit Neighborhood Housing Services says the government sponsored lenders are playing an increasingly important role, especially for New ...

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Consumers Seek More Info on Banks

Wednesday, July 16, 2008

News coverage of depositors lining up outside California's IndyMac Savings and Loan is prompting consumers to take a closer look at their own banks. WNYC's Bob Hennelly reports.

REPORTER: So just what can a consumer learn about their bank? Every bank covered by the Federal Deposit ...

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Unsafe Crane Removed From Job Site

Wednesday, July 16, 2008

The Department of Buildings says it ordered a crane be removed from a lower Manhattan job site after inspections showed it was structurally unsafe. The faulty equipment was a Kodiak crane - the same type that collapsed in May killing two workers. DOB commissioner Robert ...

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Cop Reinstated After Failed Sobriety Test

Wednesday, July 16, 2008

The off-duty detective involved in a shooting over the weekend and later found to have been drinking has been restored to full duty.

Detective Ivan Davison was the first officer involved in a shooting to later fail the mandatory sobriety test, a rule that's been in ...

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Cops to Pay for Guns Turned in at Church

Wednesday, July 16, 2008

Take your illegal guns to church this Saturday. That's the message the Brooklyn DA and a number of pastors are trying to get out. WNYC's Arun Venugopal has more on the city's gun buyback program.

The city will pay $200 for each gun that's brought in, ...

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Billy Joel Joins Ranks of Shea Stadium Rockers

Wednesday, July 16, 2008

Tonight, Billy Joel joins the ranks of rock stars that’ve played at Shea -- from the Beatles to the Who.

After this season, the ballpark will close to make way for the new Citi Field next door.

Even though Billy Joel hasn't released a new record in ...

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Cop Fails Breathalizer After Shooting

Tuesday, July 15, 2008

A NYPD detective has failed the newly implemented breathalyzer test after being involved in a Queens shooting Sunday morning.

The detective was off-duty, when he encountered a man being assaulted by a group. The officer is said to have stepped in to stop the attack, when ...

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Paterson Offers Nanotech Funding

Tuesday, July 15, 2008

Gov. David Paterson is promising IBM $140 million in tax breaks and grants to expand its nanotechnology operations--that is, the creation of extremely small electronic devices that function on a molecular level.

Under the Pataki administration, the state committed close to one billion dollars to make ...

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FAA Implements Saftey Measures at Local Runways

Tuesday, July 15, 2008

The Federal Aviation Administration is implementing a long-awaited safety system for runways at New York's three major airports.

Robert Sturgell is acting F.A.A. administrator.

STURGELL: This is a system that's basically the traffic lights that tell pilots whether runways are clear.

REPORTER: Sturgell says a preliminary investigation ...

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Baseball Fans Cheer All-Stars on Parade

Tuesday, July 15, 2008

Baseball fans enjoyed seeing their favorite players from past and present along sixth avenue at the parade celebrating the All-Star game tonight.

People began lining up early this morning to get a prime spot to see players like Yogi Berra, Reggie Jackson and Alex Rodriguez.

Ten year ...

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New Yorker Cover Draws Protest

Tuesday, July 15, 2008

Fall out over the cover of the July issue of The New Yorker magazine continues.

The magazine's editor, David Remnick, says the caricatures of Barack and Michelle Obama were meant to satirize the racist attacks and misinformation against the couple.

But State Senator Bill Perkins says he ...

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West Side Development May Stall Over Security

Monday, July 14, 2008

A key part of the redevelopment of Manhattan's Far West Side has hit a road block. A private developer may not be able to build an apartment complex because of security requirements imposed by the Port Authority. WNYC's Matthew Schuerman has more.

REPORTER: An 800-unit apartment ...

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Rape Kits Will Collect Evidence from Suspects, Too

Monday, July 14, 2008

Rape kits are typically used on sexual assault victims, to collect physical evidence for law enforcement officials to use to get convictions. Now, rape kits will also be used on rape suspects, to document bite marks, bruises, and DNA.

REPORTER: It's part of an expansion of ...

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Schumer Defends Comments on IndyMac Collapse

Monday, July 14, 2008

Sen. Charles Schumer is defending himself against claims by regulators that he's partly to blame for the collapse of IndyMac Bancorp.

The regulators say Schumer caused a run on the bank by releasing a letter about the possible risk of IndyMac failing.

The New York Democrat says ...

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Corzine will Organize to Continue Drilling Ban

Monday, July 14, 2008

New Jersey Gov. Jon Corzine says there's little support among East Coast governors to lift the ban on oil drilling along the continental shelf - a proposal President Bush made today.

Corzine says that's not the way to address the energy crisis and the high cost ...

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City Sets Formal Film Permit Rules

Monday, July 14, 2008

After years of relying on vague guidelines, filmmakers and photographers who shoot on New York City streets now have a clear set of rules.

Under the new rules, productions must have permits and at least $1 million in insurance if they plan to take over a ...

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City Council Wades into Religious Feud

Monday, July 14, 2008

The City Council has waded into a longstanding feud between factions of the city’s largest Hasidic group.

A group called UJ-CARE, a newcomer to community service in Williamsburg, was allocated $200,000 for the new fiscal year. The relatively large figure is angering a rival, the veteran ...

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