Business Stories for February 2013
Stories for Thursday, February 28
US economy grew at 0.1 percent rate in 4th quarter
By MARTIN CRUTSINGERAssociated PressThe U.S. economy grew at a 0.1 percent annual rate from October through December, the weakest performance in nearly two years. But economists believe a steady housing rebound, stronger hiring and solid spending by consumers and businesses are pushing economic growth higher in the current quarter.The Commerce ...
Wendy’s stands by outlook amid transformation push
Wendy’s is standing by its outlook for the year as it pushes ahead with restaurant remodeling plans intended to boost its image.The company, based in the Columbus suburb of Dublin, says about 20 percent of its U.S. locations will be remodeled by 2015. The new look, which includes comfortable seating ...
Penney’s shares plunge after 4Q massive loss
By ANNE D’INNOCENZIOAssociated PressJ.C. Penney is the biggest loser.Shares of J.C. Penney Co. plunged nearly 16 percent on Thursday, the biggest loser on the Standard &Poor’s 500 index for most of the day. The drop comes a day after the department-store chain reported its fourth consecutive larger-than-expected quarterly loss on ...
Magazine: Dayton No. 1 in business recruitment, expansion
Site Selection magazine and website is preparing to rank the Dayton area at No. 1 on its list of metro areas drawing new business facilities and enabling business expansions among metropolitan areas with populations of 200,000 to one million people. The annual ranking is based on research by the staff ...
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
Stocks drop as Italy heads for political disarray
By STEVE ROTHWELLAP Business WriterNEW YORK (AP) — Stocks had their worst drop in more than three months as the prospect of political paralysis in Italy raised the specter of Europe’s debt crisis flaring up again.The Dow Jones industrial average fell 216.40 points, or 1.6 percent, to 13,784.17, its biggest ...
FirstEnergy reports share loss
Associated PressFirstEnergy Corp. said Monday that it posted a fourth-quarter loss of $148 million, hurt by hefty costs related to pension adjustments and other items.The Akron-based energy company’s loss amounted to 35 cents per share and compared with a profit of $99 million, or 23 cents per share, in the ...
Tax credits approved to create 70 new local jobs
The Ohio Tax Credit Authority on Monday approved credits for seven projects that are expected to create 335 new jobs across the state, including 70 in Montgomery and Warren counties.The credits are also expected to help retain 2,038 jobs across the state.Among those are two local projects, the expansion of ...
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 ...
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