KeyCorp posts 11% decline in profit amid expenses to cut jobs
KeyCorp, Ohio’s second-largest bank, said Thursday that its second-quarter profit declined 11 percent on costs related to a job-cutting program.Operating net income fell to $193 million, or 21 cents a...
View ArticleBusiness news briefs — July 18
LOCAL BUSINESSSteelastic to relocate in AkronAn Akron company is moving from one industrial area in the city to another.Steelastic, which makes equipment for the tire industry, will make a new home in...
View ArticleDerby racers to get open-wheel boost from IndyCar
Racers in the FirstEnergy All-American Soap Box Derby are going to get a bit of bling this year.IndyCar bling.The Indianapolis-based open-wheel racing organization, best-known for the famed...
View ArticleGroups say Ohio needs to boost financial assurances for gas-oil drillers in...
Ohio bonding and liability requirements are insufficient to cover the cost and damage from a drilling accident or problems in the developing Utica shale and need to be raised, two groups said...
View ArticleOhio jobless rate rises to 7.2 percent in June
COLUMBUS: Ohio’s unemployment rate rose to 7.2 percent in June with a loss of 12,500 jobs — the second largest of any state that month — after the rate had remained at 7 percent for the previous two...
View ArticleDepartment of Energy study: Fracking chemicals didn’t taint Pennsylvania water
PITTSBURGH: A landmark federal study on hydraulic fracturing, or fracking, shows no evidence that chemicals from the natural gas drilling process moved up to contaminate drinking water aquifers at a...
View ArticleAttorney wants to question Browns owner Jimmy Haslam, other Pilot Flying J...
A Georgia attorney wants the chance to get answers from top executives at Pilot Flying J.In a July 8 letter to attorneys for the Knoxville-based chain of truck stops, Savannah, Ga., attorney Mark Tate...
View ArticleOhio plant ramping up production of Jeep Cherokee
TOLEDO: Production of the new Jeep Cherokee that Chrysler executives think could be the brand’s top-selling model should reach full production in an Ohio assembly plant by September.The automaker said...
View ArticleTowpath Credit Union customers report fraudulent transactions from China
Fraudulent debit-card transactions originating in China have hit at least one Akron-area credit union.At least six customers, possibly eight, of the Towpath Credit Union have seen fraudulent...
View ArticleTime Warner Cable battles CBS over fees in New York, Los Angeles
Time Warner Cable Inc. said it’s balking at renewing an agreement to carry CBS Corp.’s broadcast network on its pay-TV system because the entertainment company is asking for too much money.CBS is...
View ArticleMcDonald’s to open in Vietnam
For many in Vietnam, the question has been fraught with impatience and even concern.Why isn’t there a McDonald’s there?Decades after the Vietnam War, and years after the Communist-run country...
View ArticleToyota sudden-acceleration settlement approved
SANTA ANA, CALIF.: A California judge said Friday that he’s finalizing a settlement worth more than $1 billion in cases where motorists say the value of their Toyota vehicles plunged after recalls over...
View ArticleBusiness news briefs — July 19
NUCLEAR ENERGYPlant issue disputedThe Japanese company that built corrosion-plagued steam tubes for California’s San Onofre nuclear power plant says it will fight allegations of wrongdoing by the...
View ArticleOhio loses 12,500 jobs as unemployment rate rises
Ohio’s unemployment rate rose to 7.2 percent in June from 7 percent in May as the state lost the second-highest number of jobs in the nation.Ohio employers, including local governments, cut 12,500...
View ArticleRecord pork supply seen as U.S. farms profit again
Hog farmers are making money for the first time in a year after prices surged to a two-decade seasonal high and feed costs fell, spurring them to expand herds that will yield the most pork on...
View ArticleWhat to expect from your bond mutual fund
Investing in bond mutual funds is easy. At least, that’s the way it was for decades.Investors could count on steady interest payments. Their funds also benefited from rising bond prices, because...
View ArticleU.S. stocks rise as GE earnings overshadow tech slump
NEW YORK: Stocks rose in Friday trading, giving the Standard & Poor’s 500 index a fourth straight week of gains, as better-than-forecast results from General Electric Co. offset disappointing...
View ArticleDeadly derailment won’t stop oil on trains
NEW YORK: A train loaded with crude oil could soon roll through a town near you.A fiery and fatal train derailment this month in Quebec, near the Maine border, highlighted the danger of moving oil by...
View ArticleGE profit beats estimates as jet engines buoy record backlog
General Electric Co.’s second-quarter profit beat analysts’ estimates as demand for jet engines and oil-and-gas drilling equipment drove the order backlog to a record.Profit margins at the industrial...
View ArticlePipeline to be altered to ship Ohio shale gas to Midwest
One of the largest natural gas pipelines built in the United States will be made bidirectional to transport natural gas from Ohio to the Midwest and potentially to the West.The Rockies Express...
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