Rossville bars cited for illegal activity
Two bars on Rossville Boulevard were penalized Thursday by the Chattanooga Beer Board.
A bar simply called "The Bar" at 4904 Rossville Blvd. had its beer license suspended indefinitely until the owner turns it in. At a previous beer board meeting, Chattanooga police Officer John Collins said that acting on a tip, the police department's vice unit discovered illegal gambling, liquor sold without a license, and building code violations there. A family friend is running the business, not the permit holder.
The Acapulco Bar at 2825 Rossville Blvd. had its beer license suspended for three days starting Aug. 24 by the beer board, after Officer Collins said that an Aug. 5 bar check found that it didn't have a land-line phone - which is required for bars, so emergency responders can instantly know the location of a 911 call - and because nine of the 22 customers didn't have identification to prove they were 21.
"All nine said they were 22," Collins said.
Pension funds sue banks for stock loans
Three public pension funds are suing six Wall Street banks, saying the banks overcharged investors in what's known as the stock loan market.
The suit is being brought by the Iowa Public Employees' Retirement System, the Orange County Employees Retirement System and the Sonoma County Employees' Retirement Association. Those being sued are Goldman Sachs, JPMorgan Chase, UBS, Credit Suisse, Morgan Stanley and Bank of America.
The lawsuit claims the six banks overcharged investors to borrow shares in companies, particularly for investment strategies like selling a stock short. It claims the banks colluded to keep competition out of the stock loan market to keep prices high.
Mortgage rates drop this week
Long-term U.S. mortgage rates edged lower this week.
Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages slipped to 3.89 percent from 3.90 percent last week. While historically low, that's still above last year's average of 3.65 percent. The benchmark rate stood at 3.43 percent a year ago.
The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, fell to 3.16 percent from 3.18 percent last week.
Turner to offer streaming sports
Turner Sports is the latest TV company to announce a sports streaming service as traditional television companies chase millennial audiences.
The service, expected next year in the U.S., has signed up European soccer with the UEFA Champions League and UEFA Europa League. Higher-profile sports on Turner's TV channels, such as baseball and basketball, won't move to the new service. Instead, Turner is looking for new deals with content owners and leagues.
Live sports get TV's biggest ratings and have helped keep customers hooked on the $100-and-up cable bundle. But it's getting easier to find sports online.
Major sports channels come with cheaper, slimmer web versions of the bundle, like Sling and YouTube TV. Amazon, Twitter and Facebook are experimenting with televising games. A sports-focused streaming service, Fubo, has been around for a few years. And CBS and ESPN are planning to launch sports streaming sites.
HBO regains control of hacked accounts
HBO says it has regained control of its social media accounts after the latest security breach to hit the entertainment company.
The hacking group OurMine on Wednesday night took over several of HBO's Twitter accounts, including ones for "Game of Thrones" and John Oliver's show. The group posted that "we are just testing your security" and asked HBO to contact it for an upgrade.
HBO said in a statement Thursday that "the infringement on our social media accounts was recognized and rectified quickly." It declined further comment.