Business news in brief

Philadelphia Gas Works lowered its residential gas rate 5.4 percent this week, from $1.49 per hundred cubic feet to $1.41. The new rate will stay in effect through Nov. 30. The reduction equates to an annual savings of $68 for a typical residential customer. The utility adjusts its rate quarterly to reflect changes in the commodity price of energy. The adjustment does not affect the distribution costs, which include customer service and gas-main maintenance and account for the larger part of a customer's bill. - Andrew Maykuth

Safeguard Scientifics Inc., the Wayne holding company that invests in technology and life-science companies, said it contributed $7.5 million of a $10 million round of financing for Waltham, Mass.-based Quantia Inc. Quantia operates a mobile and Web-based platform designed to facilitate interaction between physicians and other health-care professionals. Safeguard shares rose 21 cents to close at $14.75. - Reid Kanaley

The Obama administration will give SEPTA $10 million to build six miles of new track between the Woodbourne and Yardley stations on the West Trenton regional rail line, Sen. Bob Casey (D., Pa.) said. The new track will allow SEPTA and freight hauler CSX to operate on separate tracks on the line, SEPTA spokesman Andrew Busch said. The total cost of the project is $38 million, with SEPTA obligated to pay $28 million, Busch said. With the $10 million from the U.S. Department of Transportation, the construction can begin, he said. Casey and the rest of the congressional delegation from Southeastern Pennsylvania asked DOT in May for the funding through the agency's Transportation Investment Generating Economic Recovery (TIGER) grant program. - Paul Nussbaum

Eastman Kodak Co., the photography pioneer overcome by digital competition, emerged from bankruptcy Tuesday as a commercial-printing company that sells nothing to consumers. The new, smaller Kodak has shed the cameras, film sales, and consumer photo developing that made it a household name, focusing on printing technology for corporate customers, touchscreen sensor components for smartphones and computer tablets, and film for the movie industry. U.S. Bankruptcy Judge Allan Gropper last month approved Kodak's exit plan, which cuts about $4.1 billion of debt and gives nothing to shareholders. Kodak, based in Rochester, N.Y., filed for bankruptcy in January 2012 after earlier spending $3.4 billion to shrink and restructure. - Bloomberg News

Standard & Poor's said the U.S. government sued the rating agency as "retaliation" for its downgrade of the country's credit rating. The Department of Justice filed civil charges against the rating agency in February, claiming that S&P refused to warn investors that the housing market was collapsing and that S&P knowingly inflated ratings of risky mortgage investments that helped trigger an economic crisis. The rating agency said in a court filing Tuesday that its opinions were independent and based on a good-faith assessment of the performance of residential mortgages during a tumultuous time in the market. The government is seeking $5 billion in penalties. - AP

Cord-cutting continues to nibble away at the U.S. pay-TV industry. According to a SNL Kagan report, the industry suffered a net loss of 217,000 subscribers in the second quarter of this year compared with the same period last year. The report also showed that traditional cable companies are losing more subscribers to satellite and telecommunications competitors that also offer video service. The report illustrated why Time Warner Cable had little choice but to settle its contentious dispute with CBS Corp., which led to a monthlong blackout of CBS-owned stations in New York, Los Angeles and Dallas. - Los Angeles Times

U.S. home prices jumped 12.4 percent in July from a year earlier, reflecting a housing market that's increasingly favoring sellers amid a tight supply of available homes for sale. Real estate data provider CoreLogic said that home prices in every state but Delaware climbed on an annual basis in July. Ninety-nine of the 100 largest cities reported annual price gains. - AP

H&R Block Inc.'s loss widened by 7 percent in its fiscal first quarter, as the tax preparer booked higher operating expenses and other costs, offsetting a sharp rise in revenue. The company, based in Kansas City, Mo., typically reports an operating loss in the May-July quarter, which follows the peak U.S. tax-filing season. In a conference call with Wall Street analysts, president and CEO Bill Cobb said he expects next year's tax season will be smoother than this year's, during which the company faced hurdles including last-minute tax law changes. Shares fell after hours. - AP

Spending on U.S. construction projects rose in July, led by strong gains in housing and non-residential projects. Construction spending increased 0.6 percent in July compared with June when activity was unchanged, the Commerce Department reported. The June performance represented an upward revision from an initial estimate that spending had fallen 0.6 percent. Total construction activity rose to a seasonally adjusted annual rate of $900.8 billion in July, the strongest performance since June 2009. - AP

U.S. factories expanded last month at the fastest pace since June 2011 on a jump in orders. The report signals that manufacturing output could strengthen in coming months. The Institute for Supply Management said its manufacturing index rose to 55.7 in August from 55.4 in July. That topped the index's 12-month average of 52. A reading above 50 indicates growth. The ISM is a trade group of purchasing managers. A gauge of new orders rose nearly five points to 63.2, the highest level in more than two years. - AP

Google Inc., which is known for nicknaming its Android mobile operating systems for smartphones and tablets after desserts, has for the first time chosen a brand-name candy for its 4.4 version that's expected to launch this fall: Hershey Co.'s Kit Kat bar. Kit Kat packaging will show Android's green robot mascot breaking a Kit Kat bar. Financial terms weren't disclosed for the sweet deal between Google and Pennsylvania-based Hershey. - AP