Business Stories for February 2013
Stories for Wednesday, February 27
Stocks surge on housing; Dow nears record
By Steve RothwellAP Business WriterNEW YORK (AP) — The Dow came within 100 points of its all-time high Wednesday after rising sharply for a second straight day.The market surged following more evidence that the Fed will keep interest rates low, housing will keep recovering and shoppers aren’t pulling back on ...
Orders jump for key US long-lasting factory goods
By Christopher S. RugaberAP Economics WriterWASHINGTON (AP) — Orders for U.S. factory goods that signal business investment plans jumped last month by the most in more than a year, suggesting companies are confident about their business prospects.The Commerce Department said Wednesday that orders for so-called core capital goods, which include ...
Stories for Tuesday, February 26
MillerCoors supplier relocates distribution facility to Monroe
A division of Ball Corp. that supplies the Trenton MillerCoors brewery has signed a lease for space in Monroe to open a distribution facility, said officials involved with the lease deal. Ball Metal Beverage Container signed this month a lease for 165,000-square-feet at the Monroe Logistics Center, a development located ...
RadioShack may close stores or sell assets
RadioShack Corp. reported lower fourth-quarter sales and a loss for the year, and company officials said Tuesday the electronics retailer may have to close stores or sell assets if business does not pick up by next year, according to Reuters news service.The electronics retailer’s stock, which had dropped 6 percent ...
JPMorgan to cut 4,000 jobs
By Christina RexrodeAP Business WriterNEW YORK (AP) — JPMorgan is trimming about 4,000 jobs, or about 1.5 percent of its work force, becoming the latest big bank to shrink its staff.The bank said the cuts will be focused in consumer banking and mortgages. Many of the cuts would come through ...
Home Depot 4Q results top Street, OKs $17B buyback
By Mae Anderson and Michelle ChapmanAssociated PressNEW YORK (AP) — Home Depot Inc., the largest U.S. home improvement retailer, said Tuesday its fiscal fourth-quarter net income surged 32 percent, beating expectations, helped by strong U.S. sales and the cleanup related to Superstorm Sandy.The news follows smaller rival Lowe’s Cos. results ...
Radio Shack reports lower sales, says it may have to close stores
RadioShack reported lower fourth-quarter sales and said it may have to close stores or sell assets if business does not pick up by next year, according to Reuters. The electronics retailer’s stock dropped 6 percent late Monday before the close, but appeared to be holding steady during mid-morning trading. RadioShack ...
Stories for Monday, February 25
Economists predicting moderate growth in 2013
By Martin CrutsingerAP Economics WriterWASHINGTON (AP) — Business economists expect 2013 will be another year of sub-par growth for the U.S. economy, reflecting uncertainty stemming from the budget battles in Washington and Europe’s on-going debt problems. But they think the economy will improve as the year progresses and by 2014 ...
State OKs credits for projects expected to lead to 335 new jobs
The Ohio Tax Credit Authority approved credits Monday for seven projects that are expected to lead to the creation of 335 new jobs and the retention of 2,038 jobs across the state. Among those are two local projects, the expansion of the Eco-Groupe Inc. in Vandalia and Green Bay Packaging ...
Total Quality Logistics hiring event to fill 100 jobs
A fast-growing Southwest Ohio company will hold a hiring open house in March as part of its aggressive expansion plans.Total Quality Logistics said its goal is to hire 100 of the nation’s top salespeople. Job seekers will have a chance to apply at open houses to be held 10 a.m. ...
Lowe’s 4Q net income tops expectations
MOORESVILLE, N.C. (AP) — Home improvement retailer Lowe’s Cos. said Monday that cleanup efforts after Superstorm Sandy and its new pricing strategy helped its fourth-quarter net income surpass expectations.Its net income fell 11 percent from last year’s quarter, which included an extra week of revenue. Its earnings forecast for the ...
Stories for Sunday, February 24
Q&A: What tax records should I be keeping in my 20s?
When you’re young, living at home, and all you have at tax time is a single W2, filing your taxes is pretty simple. In fact you canfile your federal return online for free at IRS.gov. Most states have a free file online option as well. But as you get older, your financial ...
Venture capital rides wave of uncertainty
Venture capital investment fell sharply in Ohio in 2012, and it also dropped nationwide as some investors responded to widespread economic uncertainty by taking fewer financial risks, according to some industry experts.But the decline in Ohio does not signal a shift in economic and investment confidence, because amounts often vary ...
Yahoo redesign aims to make site more inviting
By MICHAEL LIEDTKEAssociated PressYahoo is renovating the main entry into its website in an effort to get people to visit more frequently and stay longer.The long-awaited makeover of Yahoo.com’s home page is the most notable change to the website since the Internet company hired Marissa Mayer as its CEO seven ...
Stories for Friday, February 22
Woolpert partners with maker of unmanned aircraft
Beavercreek-based Woolpert has partnered with a Florida firm to operate unmanned aircraft for aerial surveying and mapping data collection, company officials said Friday.Woolpert, an engineering and design services firm, has used traditional aircraft to collect LiDAR (Light Detection and Ranging) data to create 3-D visual maps of large areas, including ...
Stories for Thursday, February 21
Consumers: Less take-home pay means less spending
Consumers’ newfound reluctance to spend their smaller paychecks is sending shock waves throughout the economy, from area restaurants and shopping malls to Ohio’s largest employer. A National Retail Federation survey released Thursday showed that nearly three out of four consumers — 73.3 percent — said they would cut back on ...
AK Steel vice president to retire
AK Steel Corp. announced Wednesday that Lawrence Zizzo, vice president of human resources, has elected to retire after 35 years in the steel industry.Zizzo, 64, has spent nine years with AK Steel, joining the company in 2004 in his current position. He retires effective March 31.Prior to AK Steel, Zizzo ...
Stories for Wednesday, February 20
Ohio sets record for new business filings
More new companies chose to do business in Ohio last year than in any other year in the state’s 209-year history, Secretary of State Jon Husted said Wednesday. In total, 88,068 new entities filed to do business last year, Husted said. New business filings are classified as forms that declare ...
Cincinnati Children’s buys back land in Butler County
Cincinnati Children’s Hospital Medical Center has repurchased 15 acres of land in Liberty Twp. for approximately $3.7 million, hospital officials said.The land is along Yankee Road near Cincinnati Children’s Liberty Campus, a hospital that opened in Butler County in 2008.Cincinnati Children’s sold the land in 2006 to another Cincinnati health ...
Office supply chains agree to merge
NEW YORK (AP) — Office Depot Inc. and OfficeMax have agreed to merge in an all-stock deal that would transform the $21.2 billion office supply retail sector.Boca Raton, Fla.-based Office Depot Inc. and Naperville, Ill.-based OfficeMax say holders of OfficeMax shares will receive 2.69 shares of Office Depot for every ...
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