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Business news in brief

In the Region

Sunoco Logistics adds pipeline

Sunoco Logistics Partners L.P. said it was seeking commitments from shippers for a separate and mostly new pipeline that would generally follow the path of its current cross-state Mariner East pipeline, which carries natural-gas liquid fuels from the Marcellus Shale region to Marcus Hook. The binding open season will test whether there is a market for the project, which would be called Mariner East 2 and transport ethane and propane. The materials, primarily used in petrochemical production, are being exported from the former refinery site in Marcus Hook. Industry experts project production of natural gas liquids from the Marcellus Shale and the neighboring Utica Shale to double by 2016, the targeted completion date of the pipeline project. - Andrew Maykuth

PSEG to light up Super Bowl

Public Service Enterprise Group (PSEG) will be the official provider of green energy for Super Bowl XLVIII on Feb. 2 at MetLife Stadium in the Meadowlands. The Newark energy company said Wednesday that it was partnering with the NFL Environmental Program to supply renewable electricity for the stadium, hotels, and events associated with the championship. PSEG will buy renewable energy credits from New Jersey solar and wind projects, including the Atlantic City Wind Farm, for power consumed during four weeks of events in New Jersey and New York City. PSEG could spend up to $100,000 for renewable credits for the 4,000 to 6,000 megawatt hours the event is expected to require. - Andrew Maykuth

Teva hopes for boost in sales

Teva Pharmaceutical Industries Ltd.'s plan to reformulate or repurpose existing drugs will generate $3 billion of sales by 2020, part of a strategy to counter a decline in revenue from its best-selling Copaxone multiple sclerosis treatment, chief scientific officer Michael Hayden said. Teva, which is looking for a new chief executive after Jeremy Levin stepped down in October amid a board dispute, will seek regulatory approval for eight products in the next three years from its effort to develop so-called new therapeutic entities. - Bloomberg News

Aqua America buys six systems

Aqua America Inc., of Bryn Mawr announced that it had purchased four small water systems and two wastewater systems in Illinois and Virginia for a total of $588,000. The largest acquisition was the wastewater treatment system for the Village of Sun River Terrace in Kankakee County for $300,000. The system serves about 500 people whose drinking water is already supplied by Aqua Illinois. Aqua America has acquired 15 water and wastewater systems in 2013. - Andrew Maykuth

Ametek pays $128M for Powervar

Berwyn-based Ametek Inc. said Wednesday that it had acquired privately held Powervar for about $128 million. Ametek makes electronic instruments used by energy and aerospace companies. Powervar, based in Waukegan, Ill., makes power protection equipment used by the medical, retail, and telecommunication industries. It has annual sales of about $70 million, Ametek said. - Associated Press


3 banks failed some relief tests

Three of the biggest U.S. lenders failed this year to meet some requirements for giving relief to struggling homeowners in a $25 billion settlement over foreclosure abuses, according to an official. The monitor overseeing the settlement said in a report issued Wednesday that Bank of America, JPMorgan Chase, and Citigroup together failed to meet seven of the 29 requirements tested in the first half of the year. The failures include requirements to notify borrowers of any missing documents in mortgage modification applications within five days of receipt and to give borrowers accurate information before foreclosure is started. Monitor Joseph Smith said the banks had taken steps to correct the errors. - AP

Court rules on WTC case

A federal appeals court in Manhattan ruled that negligence was not the cause of the collapse of a third World Trade Center tower several hours after the main towers were destroyed in the Sept. 11, 2001, terrorist attacks. The utility Consolidated Edison Co. had claimed negligence resulted when World Trade Center Tower 7 tenants were allowed to install diesel backup generators. The fuel burned for hours in the 47-story building from damage resulting after hijacked planes struck the two nearby towers. - AP

Cameron defends Glaxo

U.K. Prime Minister David Cameron defended GlaxoSmithKline Plc over bribery allegations in China, saying he had found the British drugmaker an important and strong business. Cameron has been joined by Glaxo chief executive officer Andrew Witty on his trade mission to China this week, and has raised Glaxo's case with the Chinese leadership. - Bloomberg News