Business Stories for April 2011
Stories for Friday, April 29
AK secures new credit facility
AK Steel Corp. has entered into a new $1 billion, five-year revolving credit facility, or line of credit, with a group of lenders, the steelmaker said Thursday.Bank of America Merrill Lynch acted as the lead arranger, the company said in a statement. J.P. Morgan Securities LLC and Wells Fargo Capital ...
Stories for Wednesday, April 27
Former Michigan governor proposes national clean energy policy
COLUMBUS — While Ohio and Michigan are among the 29 states with renewable energy standards, America needs a national clean energy policy to compete for green jobs on a global scale, according to former Michigan Gov. Jennifer Granholm.Granholm, a Democrat who served eight years as Michigan governor before stepping down ...
Stories for Monday, April 25
Jet engine project, and jobs tied to it, scrapped
WASHINGTON – The Obama administration Monday officially scrapped the alternate engine for a new generation of jet fighters, a move which means that GE Aviation in suburban Cincinnati will put off plans to hire hundreds of engineers for the project.The decision, announced by the Pentagon, was not unexpected because Congress ...
Cincinnati Financial names new CEO
FAIRFIELD — One of Butler County’s largest employers has named a new president and chief executive officer. Steven Johnston was named president and chief executive officer of Cincinnati Financial Corp., effective May 2, to replace Kenneth Stecher, who becomes the company’s chairman of the board, Cincinnati Financial officials announced Monday. ...
Stories for Wednesday, April 13
P&G, Unilever fined by EU's competition watchdog
BRUSSELS — The EU’s competition watchdog says it is fining Procter & Gamble and Unilever a total of €315.2 million ($456 million) for fixing prices for powdered laundry detergent together with Henkel in eight EU countries.The European Commission said Wednesday that Henkel escaped a fine because it blew the whistle ...
Fed cracking down on mortgage lenders
WASHINGTON — Federal banking regulators have reached agreements with the nation’s biggest mortgage lenders to address longstanding complaints that the foreclosure process is unfair to delinquent borrowers trying to stay in their homes.The settlements with 16 of the nation’s largest mortgage lenders and servicers are aimed at correcting what consumers ...
Duke Energy announces joint venture
Duke Energy, which supplies electricity in southwest Ohio, including Warren and extreme southern Montgomery counties, is entering a joint venture with American Transmission Co. that will build, own and operate new electric transmission infrastructure in North America.The companies said the joint venture, Duke-American Transmission Co., should help address increasing demand ...
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