LOCAL BUSINESS
Young professionals luncheon
The Greater Akron Chamber’s Young Professionals Network’s Leadership Luncheon Series will continue Thursday with a program called A YP’s Path to Leadership: Age is Nothing But a Number.
The featured speaker is Danielle Kimmell, the youngest partner at her firm, financial services/accounting business Bober Markey Fedorovich of Fairlawn.
The luncheon will be 11:30 a.m. to 1 p.m. at Bober Markey Fedorovich, 3421 Ridgewood Road., Suite 300, Fairlawn. Lunch and networking will start at 11:30 a.m., and the presentation will begin at noon. Space is limited to the first 50 people.
Registration is required to attend. To RSVP, go online to www.greaterakron chamber.org and click on the events calendar. For more information, contact Angela Presutti at 330-237-1263 or presutti@greater akronchamber.org.
Entrepreneur program set
Kent State University’s Center for Entrepreneurship and Business Innovation is hosting its seventh Entrepreneurship Extravaganza on Wednesday and Thursday at the Kent Student Center.
Wednesday’s event is sold out; Thursday’s is not.
On Thursday, the event will take place from 8:30 a.m. to 3:40 p.m. with activities taking place at the Kent Student Center Kiva and Ballroom. Jeff Hoffman, co-founder of Priceline.com, will be the keynote speaker this day.
To register and to see a full schedule of events, go online to www.kent.edu/cebi/ extravaganza. For more information, contact Kent State’s Center for Entrepreneurship and Business Innovation at 330-672-9430 or cebi@kent.edu.
Diebold makes expansion
Green-based Diebold Inc. is expanding into Turkey with the acquisition of Altus, a financial industry service provider based in Ankara.
Altus was founded in 2008 and offers hardware and software-related services to the financial industry. Altus provides information technology services and automated teller machine services.
Terms were not disclosed. Altus operates in about 80 cities in Turkey.
RPM has financing moves
Medina-based coatings and sealant maker RPM International Inc. expects to raise about $300 million through a sale of notes paying 3.45 percent and repay a portion of its older debt with the proceeds. The new notes will pay interest semi-annually and be due Nov. 15, 2022. The sale is expected to close today. Net proceeds will be approximately $297.7 million after deducting underwriting costs, RPM said in a news release.
TIRE & RUBBER
Sales up at Michelin
Michelin, the world’s second-largest tiremaker, said third-quarter revenue rose 5.7 percent on higher demand for specialty tires. Sales gained to $7.1 billion from $6.7 billion a year earlier, the Clermont-Ferrand, France-based company said. The figure beat the $6.9 billion average of seven analyst estimates compiled by Bloomberg News.
The 123-year-old company, which makes more than half of its revenues selling passenger car and light truck tires, is seeking to expand in the more profitable segment of tires for planes and mining equipment. Michelin said it also intends to increase sales outside Europe and North America. In North America, the company owns production of Uniroyal and BFGoodrich brands. The company said it plans to invest $2.1 billion to $2.9 billion a year through 2015 to fuel the expansion. About 60 percent of the spending will target new markets.
Michelin stuck to its 2012 forecast for a “clear” increase in operating income before nonrecurring items. The company said full-year sales volume will decrease 5 percent. The French manufacturer has said that it expects 2013 to be a “year of transition” for tire markets. For 2015, the company targets operating profit of about $3.8 billion.
WALL STREET
Dow posts gain of 2.38 points
In a late-session turnaround, the U.S. stock market erased losses to end marginally higher Monday, with the technology sector posting the biggest gains as investors considered corporate-earnings reports. The S&P 500 index gained less than a point to finish at 1,433.81, edging into positive territory at the very end of the session. The Dow Jones industrial average turned higher in the last few minutes of trade to finish up 2.38 points at 13,345.89.
The Nasdaq composite rose 11.34 points, or 0.4 percent, to end at 3,016.96.
Hewlett-Packard Co., UnitedHealth Group Inc. and Caterpillar Inc. were among the top gainers in the Dow. Caterpillar shares rose 1.5 percent after the maker of mining and construction equipment reported quarterly earnings above estimates but came in light on revenue while lowering its outlook for the year.
Compiled from staff and wire reports