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Business news in brief

In the Region

Boardwalk retail project starts

BET Investments Inc., of Horsham, is scheduled to break ground Thursday on a 16,000-square-foot retail project in Atlantic City, on the Boardwalk property where Trump World's Fair Casino stood, the Casino Reinvestment Development Authority said. Bruce E. Toll, the investor behind BET Investments, outbid Donald Trump for the 2.5-acre property at a bankruptcy auction in 2005, paying $2.15 million for the land. Trump World's Fair closed in 1999. The development authority said no tenants had been named. - Harold Brubaker

Job scene improved for grads

Employers say they will hire 8.6 percent more graduates from the college Class of 2014 than they did from the Class of 2013, according to a survey by the National Association of Colleges and Employers, based in Bethlehem, Pa. That's up from employers' fall projections, when they said they expected hiring to increase by 7.8 percent. Also, 48.4 percent of those surveyed said they planned to increase hiring; less than 30 percent planned to cut back. In 2013, a higher percentage of employers, 49.2 percent, said they were expanding hiring, but a higher percent, 36 percent, also said they were cutting back on college hiring. - Jane M. Von Bergen

Economy improves

The Federal Reserve said the U.S. economy continued to expand in most regions, including Philadelphia, as businesses benefited from a bounce back from harsh winter weather. Eight of 12 Fed districts characterized growth as "modest or moderate," the Fed said in its Beige Book business survey, based on reports gathered before April 7. Economic growth in Chicago "picked up," while Philadelphia and New York saw a rebound from weather-related slowdowns, the report said. The Cleveland and St. Louis districts reported declines. The Beige Book gives the Federal Open Market Committee anecdotal information about the state of the economy before it meets on April 29 and 30 to discuss monetary policy. - Bloomberg News

Center seeks start-up tenants

The Science Center and Drexel University said they had started accepting applications from tech start-ups and individuals for a new shared work space, Innovation Center @3401, which is scheduled to open this spring. Rent for the center at 3401 Market St. in University City starts at $300 a month, according to the Innovation Center's website. Users of the center will also have access to some resources at Drexel and the Science Center. - Harold Brubaker

Job cuts at Lourdes

Lourdes Health System in South Jersey announced that it was cutting 26 jobs, including three management positions, and reducing the level of care at its intensive care nursery unit at Our Lady of Lourdes Medical Center. The system, part of Trinity Health, has 2,599 full-time-equivalent employees. Alexander J. Hatala, president and chief executive of Lourdes, said in a statement that Lourdes had to adapt to changes in the delivery of health care. "Most health care is now provided in the outpatient setting," Hatala said. He said that the overall number of jobs at Lourdes had increased 4 percent in the last two years, even as the number of hospital-based jobs had gone down. - Harold Brubaker

More bribery alleged at Glaxo

British drugmaker GlaxoSmithKline P.L.C., which has large operations in the Philadelphia region, is looking into allegations of bribery in Jordan and Lebanon. The company said it started looking into the conduct of "a small number of individuals" in December. It said the investigation was ongoing. On Monday, the BBC reported that Glaxo was facing a bribery investigation in Poland. The company is also facing a corruption investigation in China and is looking into alleged bribery in Iraq. - AP


Railroads will miss deadline

The freight railroad industry says only one-fifth of its track will be equipped with mandatory safety technology to prevent most collisions and derailments by the Dec. 31, 2015, deadline set by Congress. The Association of American Railroads previously had estimated 40 percent would meet the deadline. The association blamed the Federal Communications Commission, saying the FCC is holding up the installation of 22,000 antennas on track wayside that are necessary to complete installation of the technology, known as positive train control. - AP

Yellen: Job market needs help

Federal Reserve Chair Janet Yellen said the U.S. job market still needs help from the Fed and that the central bank must remain intent on adjusting its policy to respond to unforeseen challenges. In her first major speech on Fed policy, Yellen said the Fed's policies "must respond to significant unexpected twists and turns the economy may make." She said the Fed's forecast for moderate growth had changed little since last fall. - AP