Business Stories for November 2012
Stories for Thursday, November 29
Duke Energy CEO to step down
RALEIGH, N.C. (AP) — Duke Energy CEO Jim Rogers will step down as head of the largest U.S. electric utility as part of a settlement with the North Carolina utilities regulator.The resignation ends an investigation into the company’s takeover of in-state rival Progress Energy.Hours after the merger was completed July ...
Kroger lifts forecast after stronger third quarter
By Candice ChoiAP Food Industry WriterNEW YORK (AP) — Kroger Co. is raising its earnings outlook for the year after the nation’s largest traditional supermarket chain reported a third-quarter profit that topped Wall Street expectations.The company, which also operates Fry’s, Food 4 Less and Ralphs, has been working to improve ...
Stories for Tuesday, November 27
Sales tax collections fall in Greene, rise in six other area counties
Sales tax collections distributed by the state in November rose in six out of seven counties in southwest and west-central Ohio, but Greene County’s string of 29 consecutive months of year-over-year increases in sales tax collections came to a halt, according to the Ohio Department of Taxation.Montgomery County recorded its ...
Steelmaker joint venture to build Indiana plant
AK Steel Corp.’s joint venture in the iron ore business announced Tuesday plans to build a pellet plant in Reynolds, Ind.Butler County’s AK Steel in the fall of 2011 formed a joint venture to make iron ore concentrate. The company is called Magnetation LLC, and is a partnership between AK ...
Stories for Friday, November 23
Wanted: small business support
It would be a dream come true if Gaile McLemore could come to her East Third Street business and find a line of people camped out and waiting to get in to shop. “I would probably faint, but I would have a big smile on my face,” said McLemore, owner ...
Stories for Wednesday, November 21
Steelmaker issues new shares, debt
One of the Miami Valley’s largest publicly traded companies has issued 22 million new shares of common stock.AK Steel Corp. said it has issued the new shares of common stock with an aggregate value of $88 million. The West Chester Twp.-based company, which has a Middletown steel plant, also said ...
Fifth Third latest to offer prepaid card
Fifth Third Bank is the latest to introduce a prepaid card product.The region’s largest bank launched Access 360, a reloadable prepaid card. The card became available in October, but wasn’t promoted heavily until this month.Prepaid cards act similar to debit cards — customers can load money directly on the card ...
Stories for Sunday, November 18
7 easy ways to cut food costs when you vacation
There are six people in my family, so there's no question that food is a major line item in our vacation budget. Fortunately, by planning ahead, we've been able to cut our food expenses in half when we travel. Here are seven ways to stay on budget and still be ...
Trade issues remain top of mind following election
President Barack Obama and challenger Mitt Romney waged a furious campaign in Ohio over job offshoring and who would be tougher on China’s trade practices. But with that battle done, economists, trade experts and business people want to know where national policy goes from here.Beyond messaging and campaign narrative, the ...
Stories for Saturday, November 17
How to manage your digital afterlife
I manage most of my financial and business life online. A lot of my personal life is there, too – photographs, saved emails, Facebook, tweets. If I’m hit by a truck tomorrow, what happens to it? I thought I was covered by giving my husband and digerati brother the passwords to ...
Stories for Friday, November 16
Ohio unemployment lowest in more than 4 years
Ohio’s unemployment rate fell to 6.9 percent last month — the lowest rate in more than four years — as the Buckeye State added a robust 13,900 nonfarm jobs, the Ohio Department of Job and Family Services reported Friday. Unemployment in Ohio is now at its lowest level since August ...
Stories for Thursday, November 15
Two discounters, while similar, foresee different holiday sales seasons
By Anne D’InnocenzioAP Retail WriterNEW YORK (AP) — This holiday season, the biggest discount chains in the U.S. will tell the tale of two very different shoppers: those that have and those that have not.Wal-Mart Stores Inc., the world’s largest retailer, on Thursday acknowledged that its low-income shoppers continue to ...
Consumer products giant announces new job cuts
Eager to boost productivity and lower costs, consumer products giant Procter & Gamble Co. announced more jobs cuts Thursday — cuts that will come on top of the previously announced elimination of 5,700 non-manufacturing jobs by June.Leaders of Cincinnati-based P&G said in a meeting with industry analysts that it will ...
Superstorm Sandy pushes US jobless claims to highest point in 18 months
By CHRISTOPHER S. RUGABER Associated Press Superstorm Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months. The Labor Department said Thursday that weekly applications increased by 78,000 mostly because a large number of applications were filed ...
McDonald’s shakes up US team amid competition
By CANDICE CHOIAP Food Industry WriterMcDonald’s Corp. is hoping a leadership shakeup for its U.S. operations will help it fight off intensifying competition.The world’s biggest hamburger chain said Thursday that Jan Fields, president of McDonald’s USA, will be replaced by Jeff Stratton, its global chief restaurant officer, effective Dec. 1.A ...
A&F’s shares surge on strong 3Q report
By ANNE D’INNOCENZIO and MICHELLE CHAPMANAssociated PresssAbercrombie & Fitch Co. delivered a pleasant pre-Christmas surprise to investors: the teen retailer raised its full-year earnings guidance on a strong third-quarter performance, sending shares surging.The Ohio-based company reported a 41 percent increase in its net income for the third quarter as international, ...
Stories for Wednesday, November 14
Sandy, careful consumers lower US retail sales
By CHRISTOPHER S. RUGABER and ANNE D’INNOCENZIO Associated Press Superstorm Sandy combined with cautious consumers to lower retail sales in October and raise concerns about weaker economic growth and a tepid holiday shopping season. Consumers may also be holding back because of anxiety over big tax increases and spending cuts ...
Stories for Tuesday, November 13
AK Steel anticipates fourth-quarter loss
AK Steel said Tuesday it expects to incur a net loss of 67 cents to 72 cents a share in the fourth quarter, about half of which can be tied to an anticipated income tax charge of $35 million during the quarter.The Middletown-based steelmaker said it expects steel shipments to ...
Stories for Monday, November 12
Kettering Health taps 1st female president
Terri Day, a longtime executive in the faith-based Adventist heath care system in California and Ohio, was named Monday as the first woman president to lead the four-decade old Kettering Health Network. Day’s ascension to one of the top health care posts in the Miami Valley puts women at or ...
New Marion’s Piazza in Mason opens today
A new Marion’s Piazza will open today at 6176 Soundwave Blvd. at the Tylersville Road-Snider Road intersection. It is the ninth restaurant for the Dayton-based pizza chain and the first in the northern Cincinnati area. “This is kind of a test store for us, the first one outside of the ...
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