LOOPHOLE IN LAW FOR POOR SPURRING GENTRIFICATION

PHILADELPHIA» The Community Reinvestment Act was designed to correct the damage of redlining. But the law didn’t anticipate a day when historically black neighborhoods would be sought out by young, white homebuyers. So instead of lending to longtime residents — who are overwhelmingly AfricanAmerican — most of the loans are going to white newcomers, according to an analysis by Reveal from The Center for Investigative Reporting.

Home construction jumps 9.7% in January.

WASHINGTON» Groundbreakings on new homes jumped 9.7 percent last month to the highest level since October 2016, welcome news for a housing market struggling with a shortage of homes for sale. The Commerce Department said Friday that housing starts came in at an annual pace of 1.33 million in January. Construction of single-family homes rose 3.7 percent. Construction of apartments and condominiums shot up 19.7 percent, the most since December 2016.

Coca-Cola posts loss.

Coca-Cola swung to a fourth-quarter loss after being hit with a $3.6 billion tax charged tied to a sweeping overhaul of the nation’s tax laws. Revenues also plunged as the world’s largest drink maker sells off its bottling operations. Industry analysts have anticipated both as the company reshapes its operations.

Activists delay rebuild of hotel with Elvis ties.

HONOLULU»

Developers want to rebuild a Kauai hotel with a Hollywood connection, but Native Hawaiian activists have mounted a protest. The Coco Palms was the site where Elvis Presley’s character got married in the film “Blue Hawaii.” The hurricaneravaged hotel closed in 1992. Two men claim they own the property because they are descendants of Kauai’s last Hawaiian ruler. They and others have camped out at the resort they say is a sacred area. The developers are seeking help from state sheriffs.

Rigs hold steady.

The number of rigs exploring for oil and natural gas in the U.S. didn’t increase this week, remaining at 975 for the second week in a row. That exceeds the 751 rigs that were active this time a year ago.

Houston oilfield services company Baker Hughes reported Friday that Colorado rigs decreased by one. — The Associated Press