Home sales in Ohio rise while U.S. sales decrease on lack of supply
Sales of U.S. existing homes unexpectedly dropped in December, restrained by the lowest supply of properties in more than a decade.Purchases fell 1 percent to a 4.94 million annual rate last month,...
View ArticlePostal service to hire hundreds of letter carriers in Ohio at $15 an hour
The U.S. Postal Service is seeking to fill hundreds of new $15-an-hour letter carrier jobs in Northern Ohio.David Van Allen, a USPS regional spokesman, said there are roughly 950 openings across the...
View ArticleOhio bankruptcies fall, but surge anticipated this year
Bankruptcy filings fell 14 percent in Ohio last year, dropping to their lowest point since 2006.There were 50,641 personal and business bankruptcies last year, compared with 58,846 the previous year,...
View ArticleBankruptcy definitions
• Chapter 7, also known as liquidation, involves a debtor using assets to pay the outstanding debt.• Chapter 11, which usually involves businesses, allows those businesses (or individuals) with debt to...
View ArticleSumma announces 54 layoffs
Summa Health System laid off 54 employees on Tuesday as it contends with lower-than-expected revenues and prepares for looming changes from health-care reform.Summit County’s largest employer expects...
View ArticleNew drilling data disclosed for Gulfport
Oklahoma-based Gulfport Energy Corp. has released data on two additional Utica shale wells in eastern Ohio.The wells are the fourth and eighth biggest-producing wells in the state, based on the data...
View ArticleBusiness news briefs — Jan. 23
LOCAL BUSINESSLaw firm opens in CantonSteptoe & Johnson LLP has expanded its presence in Utica shale country with the opening of a new office in Canton, according to West Virginia-based PRWeb.It is...
View ArticleApple’s holiday sales miss predictions adding to growth concerns
Apple Inc. reported first-quarter sales below analysts’ predictions on Wednesday, adding fuel to investor pessimism that has sent shares down 27 percent since September.Profit was little changed at...
View ArticleOhio Supreme Court accepts appeal in JobsOhio funding case
The Ohio Supreme Court will consider whether a nonprofit group is eligible to challenge the use of state liquor profits to fund a private economic-development program backed by Gov. John Kasich.The...
View ArticleFirstEnergy scrubber sludge, coal ash to be barged to Pennsylvania coal...
Akron’s FirstEnergy Corp. plans to phase out a 1,700-acre reservoir on the Pennsylvania-West Virginia border as a repository for scrubber sludge and coal ash from its biggest coal-fired power...
View ArticleIBM’s results lift Dow average to a 5-year high
NEW YORK: Strong earnings from tech giants nudged the stock market to a five-year high Wednesday.Investors drew encouragement from a vote by the House of Representatives to let the government keep...
View ArticleU.S. jobless claims drop to 5-year low of 330,000
WASHINGTON: The number of Americans seeking unemployment aid fell last week to the lowest level in five years, evidence that employers are cutting fewer jobs and may step up hiring.The Labor Department...
View ArticleMeasure of future growth up 0.5 percent in December
WASHINGTON: A measure of the U.S. economy designed to signal future activity increased in December from November, suggesting growth may strengthen in early 2013.The Conference Board said Thursday that...
View ArticleDiebold’s Swidarski out as CEO as company stumbles over earnings
Diebold is shopping for a new chief executive officer.The Green maker of ATMs and security systems announced that Thomas Swidarski, who has been CEO since late 2005, is no longer with Diebold after the...
View ArticleU.S. rate on 30-year mortgages rises to 3.42 percent
WASHINGTON: Average U.S. rates on fixed mortgages rose this week but remained near record lows, keeping home buying more affordable.Mortgage buyer Freddie Mac said Thursday that the average rate on the...
View ArticleTop white-collar crime prosecutor getting SEC job
WASHINGTON: President Barack Obama on Thursday nominated Mary Jo White, a former U.S. attorney who built a reputation prosecuting white-collar criminals, terrorists and mobsters, to lead the Securities...
View ArticleBusiness news briefs — Jan. 24
COURTSMGA has legal lossMGA Entertainment Inc.’s $162.5 million victory over rival toymaker Mattel Inc. for theft of trade secrets was thrown out by a federal appeals court that said the claims...
View ArticleKeyCorp fourth-quarter profit climbs 1.5%
CLEVELAND: KeyCorp’s fourth-quarter earnings edged up 1.5 percent as revenue growth helped offset costs from an efficiency initiative, the regional banking company said Thursday.KeyCorp reported an...
View ArticleLockheed’s 2013 profit forecast exceeds predictions
Lockheed Martin Corp., the world’s largest defense contractor, forecast a 2013 profit exceeding analysts’ estimates after fourth-quarter earnings declined.Lockheed said Thursday it expects profit for...
View ArticleTimken’s shares rise even as company issues caution
The Timken Co. doesn’t expect to sell as much in 2013 as it did in 2012.The Canton steel and bearings maker on Thursday said it anticipates lower demand will cause sales to drop 5 percent this fiscal...
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