Business news in brief
In the Region
Verizon regulation questioned
New Jersey Consumer Advocate Stefanie Brand said Wednesday that she would ask the state's Board of Public Utilities to reject an agreement between the BPU staff and Verizon Communications Inc. that would reclassify basic local phone service, single-line business phone service, directory assistance, and nonrecurring phone-installation charges as competitive and not subject to regulation. These deregulation issues have been discussed at the BPU since 2011. The BPU could vote on the measure next week. "It will definitely be bad for consumers," Brand, director of the Division of the Rate Counsel, said. "Throughout this nearly four-year long proceeding, Verizon has presented ample evidence to demonstrate that these four services should be deemed competitive," said Verizon spokesman Lee Gierczynski. - Bob Fernandez
Penn Health opening center
The University of Pennsylvania Health System's Chester County Hospital said it would open a 72,000-square-foot outpatient center in West Grove on June 1, in a facility built and owned by the for-profit development firm Anchor Health Properties. The center, which costs $28.4 million, not including a surgery center that is expected to open this fall, was in the works before Penn's 2013 acquisition of Chester County Hospital, in West Chester. When it opens, the center, called Penn Medicine Southern Chester County, will offer radiology services, primary care, and ophthalmology. More services will be added in the summer and fall, including pediatrics by Children's Hospital of Philadelphia's CHOP Care Network West Grove. Penn Medicine already has eight such outpatient centers in Philadelphia and surrounding area. - Harold Brubaker
Invention tips forum set
Think that inventors and entrepreneurs are the new rock stars? Did you scream with joy Friday when that trio of Philly femmes touting Zoom Interiors ("The Uber of interior design") earned $100,000 in funding on ABC's Shark Tank? If so, you might enjoy watching (if not participating in) two local inventor-celebrating events. On Thursday at 6:30 p.m., Everyday Edisons TV show producer and gizmo marketer Louis Foreman will talk about what makes a great invention, in a presentation at the Central Library of the Free Library of Philadelphia on Logan Square. Finds on past Edisons seasons have included Bethlehem, Pa., resident Phil Avery's Foldable Baking Pans, the Energy Cat jungle gym with sandpaper scratching post, a wacky mold to make edible bowls out of bacon strips, and the Speed Bandage Dispenser. The American Society of Inventors, a 55-year-old Philadelphia nonprofit, has lent its good name as sponsor of Foreman's address. The group offers monthly meetings/product appraisals for members for $49 a year. For details, contact society vice president Ruth Gaal at rgaal@comcast.com. - Jonathan Takiff
A.C. gambling revenue up 11%
Internet gambling revenue is showing encouraging gains in New Jersey after a fairly slow start. Revenue figures released Wednesday by the state Division of Gaming Enforcement show Atlantic City's casinos won $12.6 million from customers gambling online in April, up more than 11 percent compared with a year ago. For the year, New Jersey's Internet gambling revenue is nearly $48 million, an increase of nearly 19 percent compared with the first four months of last year. Overall, including in-person gamblers at brick-and-mortar casinos, Atlantic City's eight casinos saw their revenue decline by 3 percent in April, to nearly $199 million. But when the four casinos that shut down in 2014 are included, the year-over-year decline was nearly 16 percent. Four casinos reported increases last month compared with April 2014. The biggest increase, once again, was seen at the Golden Nugget, which saw its revenue rise by nearly 30 percent to $17.6 million. The biggest decline was at Caesars, which was down nearly 34 percent to $22.5 million. - Associated Press
Elsewhere
Stocks drop on slow day
Weak U.S. retail sales data helped set the stage Wednesday for a listless day of trading on Wall Street. Coming off a two-day losing streak, the major stock indexes spent much of the day drifting between small gains and losses before ending mostly lower. The Dow Jones industrial average and Standard & Poor's 500 index notched their third straight loss. The Dow Jones industrial average fell 7.74 points, or 0.04 percent, to 18,060.49. The Standard & Poor's 500 index shed 0.64 points, or 0.03 percent, to 2,098.48. The Nasdaq composite added 5.50 points, or 0.1 percent, to 4,981.69. The indexes are up for the month and year. - Associated Press
Southwest opts for roomier jets
Southwest Airlines Co. will switch all 31 pending aircraft orders for 2016 to larger versions of the Boeing 737 as the carrier expands within the United States and adds international markets. The swap will bring Southwest's 737-800 fleet to 135 by the end of next year, the Dallas-based airline said in a statement Wednesday. The move to the larger 800 fleet reflects Southwest's plan to focus on roomier planes as it expands the number of flights to Mexico, Central America, and the Caribbean. The 800s will add 32 seats per plane, a 22 percent increase from the 700s. - Bloomberg News