Business and labor at a glance
No change in bank stocks
Local bank stocks remained unchanged following trading on Wednesday. First Niles Financial, with no change since last week, stood pat to close at $9 per share, while Cortland Bancorp closed, for the second consecutive day, at $17.99 a share.
Factory output up in Oct.
WASHINGTON — U.S. factory output rose slightly in October, aided by greater production of automobiles, home electronics and appliances.
The Federal Reserve said Wednesday that manufacturing production improved 0.2 percent last month, matching the gain in September. The broader industrial production category, which includes mining and utilities, was flat as warmer weather reduced the demand for heating.
Manufacturers have endured a brutal year that crimped sales and hiring. The relatively strong dollar made U.S. goods more expensive overseas, hurting exports.
Staff, wire reports