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Business & labor at a glance

Packaged salads sicken people

SPRINGFIELD- Health officials say more than a dozen people have become sickened by a listeriosis outbreak connected to a Dole processing plant in southwest Ohio.

The Centers for Disease Control and Prevention reported Thursday that three more people have fallen ill, including two from Ohio and one from Missouri. Eighteen people in all have reported bacterial illnesses in nine states- one of whom from Michigan has since died.

The Ohio Department of Health linked the outbreak to packaged salads produced in Springfield, Ohio. Products include Dole and store brands for Kroger, Aldi, Meijer and Walmart.

Ford will update engine plant

BROOK PARK – Ford says it will upgrade its engine plant in suburban Cleveland.

The automaker says the $145 million investment will keep or create 150 jobs at its Brook Park plant.

Ford say the project will go toward production of a new 3.5-liter engine in its 2017 Ford F-150 trucks.

The engine plant employs about 1,500 people.

Bank linked to schemer fined

CORAL GABLES, Fla. – A bank linked to imprisoned Ponzi schemer Scott Rothstein has been fined $6.5 million by federal regulators for failing to report money laundering activity.

Coral Gables-based Gibraltar Private Bank and Trust Co. was fined $4 million by the Treasury Department’s Financial Crimes Enforcement Network for failing to file 120 suspicious activity reports connected to Rothstein’s scheme settlements.

Local bank stocks stand pat

After its stock price tumbled 45 cents earlier this week, Cortland Bancorp held steady in trading Friday to close at $16 per share. First Niles Financial remained unchanged at $9 per share.

Business & labor at a glance

Kennamental waits on new HQ

PITTSBURGH – Kennametal is putting off its search for a long-term world headquarters in Pittsburgh amid tough times for the company and the steel industry.

The firm said Wednesday that it was postponing the move due to the challenging industrial market.

Kennametal has laid off 1,000 workers worldwide and its stock price has dropped significantly as demand for steel-cutting technology has waned.

Mayor Bill Peduto’s chief of staff, Kevin Acklin, says the company informed the city this week of its decision to suspend a search for a new headquarters.

Kennametal relocated its headquarters from Unity to the U.S. Steel Tower in Pittsburgh last year and has been negotiating about making the city its home.

Movie parking workers sue

NEW YORK – Workers who secure street parking for movie and TV shoots in New York City are suing major studios, saying the studios often underpaid them for a job that involves long hours and trying conditions.

Several parking production assistants who’ve worked on the sets of such films as “American Hustle” and “The Wolf of Wall Street” spoke at a news conference Wednesday, a day after filing their federal lawsuits.

They accuse Lionsgate, NBCUniversal, Sony Pictures, Warner Bros. and others of violating labor laws by not paying for all the workers’ hours of safeguarding parking spots for movie trucks and trailers. The workers also say they sometimes didn’t even have access to restrooms.

Mixed results for local bank stocks

After holding steady for several days at $16.45 per share, Cortland Bancorp lost 44 cents in trading Wednesday to close at $16.01 per share. First Niles Financial stood pat at $9 per share.

Staff, wire reports

Business & labor at a glance

Moisture factor in explosions

DETROIT – Scientists hired by the auto industry have determined that multiple factors – including moisture and high humidity – can cause some Takata air bags to inflate with too much force and hurl shrapnel at drivers and passengers.

The Independent Testing Coalition, which has been investigating the cause for the past year, announced its findings Tuesday.

Air bags made by Japan’s Takata Corp. have caused at least 10 deaths and 139 injuries worldwide. The exact cause of the problem has eluded investigators for more than a decade, although more recent probes have focused on Takata’s use of a mixture of ammonium nitrate and other chemicals to create a small explosion and inflate the air bags in a crash.

Home Depot has big 4th quarter

ATLANTA – Home Depot reported better-than-expected profit and revenue in the fourth quarter and comparable-store sales jumped as the company continues to ride a sustained recovery in the housing market.

The nation’s largest home improvement retailer boosted its quarterly dividend by 17 percent and shares rose 1.4 percent to $124.53 Tuesday on powerhouse earnings in what is typically a down season for this sector of the retail industry.

It is a good omen as tax refund and home upgrade season approaches.

U.S. home sales crept upward in January, when most economists were projecting a decline.

Local stocks hold steady

Cortland Bancorp and First Niles Financial both remained unchanged in trading on Tuesday. Cortland Bancorp closed at $16.45 a share and First Niles held at $9 per share.

Staff, wire reports

Business & labor at a glance

Local bank stocks end mixed Friday

Cortland Bancorp gained back most of the 50 cents that it lost in trading Thursday, to close at $16.45 per share Friday, which was a gain of 45 cents. First Niles Financial remained unchanged, closing at $9 a share.

Stocks end best week of ’16 so far

NEW YORK – U.S. stocks inched lower Friday as the price of oil slipped and investors worried again about the health of the global economy. Chemicals companies fell the most. Despite the loss, the market still had its best week of the year.

Stocks declined as the price of oil slipped 4 percent, giving back some of its gains from the last week, and agricultural equipment giant Deere cut its sales projections. That helped touch off a wider slump that hurt chemicals, materials and mining companies.

Consumer prices unchanged in Jan.

WASHINGTON – U.S. consumer prices were unchanged in January, as the rising costs of housing and health care were largely offset by cheaper oil.

But the annual pace of inflation showed signs of acceleration. The Labor Department said Friday that prices have risen 1.4 percent over the past 12 months, compared with a year ago when annual inflation was close to zero.

New rocket plane for space unveiled

MOJAVE, Calif. – Virgin Galactic rolled out a new version of its SpaceShipTwo space tourism rocket Friday as it prepares to return to flight testing for the first time since a 2014 accident destroyed the original craft and killed a pilot.

A Land Rover with Virgin Galactic founder Sir Richard Branson standing through the sunroof pulled the ship at Southern California’s Mojave Air & Space Port, where it was built.

Business & labor at a glance

Local bank stocks see mixed results

After closing at $16.50 a share Tuesday and Wednesday, Cortland Bancorp lost 50 cents in trading Thursday to close at $16 a share. First Niles Financial remained unchanged, closing at $9 a share.

Economic drag from Zika seen

BOGOTA, Colombia – The spread of the Zika virus will have a modest drag on economies in Latin America, with tourism-dependent Caribbean nations most at risk, the World Bank said Thursday.

The World Health Organization has declared a global health emergency in response to the Zika outbreak. But it says the epidemic’s economic impact is limited.

It estimates that lost revenue will total only $3.6 billion, or about 0.6 percent of the region’s gross domestic product. That would come from reduced travel to the region and sick employees missing work, while anti-mosquito efforts will strain already tight national budgets.

Jobless-benefit applications fall

WASHINGTON – The number of people seeking unemployment aid fell last week to the lowest level since November, evidence that stock market turmoil and slow growth overseas haven’t caused U.S. businesses to cut jobs.

Weekly applications for jobless benefits fell 7,000 to a seasonally adjusted 262,000, the Labor Department said Thursday. The four-week average, a less volatile measure, dropped 8,000 to 273,250. The overall number of people receiving aid increased, to 2.26 million, from 2.25 million the previous week.

Applications are a proxy for layoffs, so the low reading suggests that employers are confident enough in future growth to hold onto their workers, and possibly hire more.

Business & labor at a glance

Upscale cheese could kill you

WEST PALM BEACH, Fla. (AP) – Whole Foods is recalling a cheese sold in one store in Florida and another in New York City because it may cause potentially fatal food poisoning.

Spokeswoman Liz Burkhart said in a news release Tuesday that the upscale Texas-based chain is recalling “Pecorino Aged Cheese in Walnut Leaves” sold in West Palm Beach, Florida, and the Bowery section of New York City. The cheese may be contaminated with listeria, a bacteria that can be fatal to young, old or frail people and cause stillbirths.

The Bowery cheese has labels beginning with the code 294239 and sell-by dates from March 3 to 8. The Florida cheese has the code 290107 and sell-by dates from Feb. 29 to March 8.

Burkhart says customers should throw out the cheese and bring in their receipt for a refund.

Bank stocks see mixed results

After a three-day weekend because of Presidents Day Monday, Cortland Bancorp gained 16 cents in trading Tuesday, closing at $16.50 per share. First Niles Financial remained unchanged, closing at $9 per share.

Caribbean tourism surges

SAN JUAN, Puerto Rico- The Caribbean is reporting a surge in tourism that easily surpassed the global growth rate as it set new arrival and spending records amid concerns the mosquito-borne Zika virus could put a dent in those numbers this year.

The Caribbean Tourism Organization says nearly 29 million people visited the region last year. Officials said Tuesday that represents a 7 percent jump over the 4 percent global tourism growth rate.

Staff, wire reports

Business & labor at a glance

Local bank stocks see mixed closings

Cortland Bancorp lost 16 cents a share in trading Wednesday, closing at $16.34 a share.

First Niles Financial held steady, closing at $9 a share.

VW, Audi, BMW recall 1.7 million

DETROIT – Volkswagen, Audi and BMW are recalling nearly 1.7 million vehicles with Takata air bag inflators that can rupture and hurl shrapnel into drivers and passengers.

The moves announced Wednesday bring to just over 5.1 million the number of vehicles in the latest round of Takata recalls.

VW and Audi said Wednesday that they would recall a total of 850,000 vehicles in the U.S. from model years 2006 to 2014.

BMW added 840,000 later in the day for the same problem.

Subaru recalls Tribecas for hoods

DETROIT – Subaru is recalling 82,661 Tribeca SUVs because their hoods can open unexpectedly while driving.

The recall involves Tribecas from the 2006-2014 model years. Most were sold in the U.S., but 5,661 were sold in Canada.

Subaru says rust or grease buildup can cause the springs in the hood to seize up and stop working.

The Japanese automaker learned about the problem from a lawsuit filed last fall.

It has no reports of injuries related to the defect.

Owners will be notified about the recall, which will happen in two phases.

First, Subaru dealers will inspect, clean and lubricate the hood system.

Second, when enough parts are available, they will replace the hood latches for free.

The recall was posted Wednesday by the National Highway Traffic Safety Administration.

Business & labor at a glance

Mixed results for local bank stocks

Cortland Bancorp gained 20 cents a share in trading Tuesday, closing at $16.50 per share. First Niles Financial stood pat, closing at $9 per share.

GM recalling 473,000 trucks

DETROIT- General Motors is recalling more than 473,000 trucks and SUVs in the U.S. and Canada because the brake pedals can come loose and fail to work properly.

The recall covers certain 2015 and 2016 Chevrolet Silverado HD, GMC Sierra HD and Chevrolet Tahoe police vehicles.

GM says a nut on the brake pedal pivot mechanism can come loose, causing the pedal to loosen and possibly become inoperative.

Toyota recalls Scion FR-S

DETROIT – Toyota’s youth-oriented Scion brand is recalling about 28,000 FR-S sports cars in North America because drivers can take the keys out of the ignition without the car being in park.

The recall covers cars with automatic transmissions from the 2013 through 2016 model years.

Toyota says in some cases, the mechanism that holds the key until the ignition unless the cars are in park may not have been connected before delivery.

Monsanto pays $80M penalty

Monsanto will pay an $80 million penalty and several executives will pay smaller amounts to settle federal allegations that the agribusiness giant misstated its earnings by not properly disclosing the costs of a rebate program for its Roundup weed-killer.

The Securities and Exchange Commission says Monsanto didn’t properly account for millions of dollars paid to distributors as rebates, which had the effect of distorting the company’s earnings reports for 2009, 2010 and 2011.

Staff, wire reports

Business & labor at a glance

Local bank stocks stay level Thurs.

There was no change in local bank stocks after trading Thursday, with Cortland Bancorp closing at $16.31 a share and First Niles Financial closing at $9.

Productivity falls in fourth quarter

WASHINGTON – U.S. productivity fell sharply in the final three months of 2015, closing out a fifth straight year of weak gains in worker efficiency.

The Labor Department said Thursday that productivity – the amount of output per hour of work – fell at an annual rate of 3 percent in the fourth quarter. It was the biggest quarterly decline in nearly two years.

Productivity last year edged up a slight 0.6 percent after a tiny 0.7 percent gain in 2014. It has been weak since 2011, a troubling development given that productivity is a key ingredient needed for rising living standards.

Rising productivity enables businesses to pay employees higher wages without having to boost the cost of the products and services they sell.

Factory orders fall in December

WASHINGTON – Orders to U.S. factories fell sharply in December, closing out a year in which demand for American manufactured goods retreated for the first time in six years.

Factory orders dropped 2.9 percent in December, the fourth decline in the past five months, the Commerce Department reported Thursday.

Orders were down 6.6 percent for the full year, marking the first annual fall since 2009, a year when the country was struggling to emerge from the Great Recession.

The 2015 decline underscores the problems that American manufacturers are facing from spreading global weakness and the rising strength of the dollar.

Business & labor at a glance

Local bank stocks end mixed Wed.

After gaining 66 cents a share in trading Tuesday, Cortland Bancorp slid 19 cents Wednesday to close at $16.31 a share. First Niles Financial stood pat Wednesday, closing at $9 a share in trading Wednesday.

Businesses add 205,000 Jan. jobs

WASHINGTON – U.S. businesses added a solid 205,000 jobs last month, lifted by robust gains in services and construction and extending a streak of steady hiring, according to a private survey.

Payroll processor ADP said Wednesday that financial services, retailers and professional services firms also hired at a steady pace. The figures suggest that companies focused on the domestic economy remain healthy, despite gyrations in the financial markets and slowing global growth.

Service firms’ growth slows

WASHINGTON – A private survey says U.S. services companies grew in January at the slowest rate in nearly two years, as global economic challenges are showing some signs of spreading to consumers.

The Institute for Supply Management said its services index fell to 53.5 last month from 55.8 in December.

Home Depot will hire about 80,000

NEW YORK – Home Depot is on a hiring spree.

The nation’s largest home-improvement chain, based in Atlanta, said Wednesday it is hiring more than 80,000 workers nationwide for its busy spring season, the same level as in recent years. The retailer estimates that more than half the temporary workers stay on for permanent employment. The part- and full-time jobs include sales, operations and cashier positions across all departments in stores.

Business & labor at a glance

Reverse job fair on Friday

The Mahoning County Board of DD and other groups will hold a reverse job fair Friday at ITT Technical Institute, 1030 Meridian Road, Youngstown.

The event to help people with disabilities find work will be split into two sessions, 9:30 to 11:30 a.m. and 1 to 3 p.m. It will give employees a chance to meet qualified job seekers ready to work in office / clerical, janitorial, housekeeping, dishwashing, laundry, stock associate, customer service and other fields.

The Tri-County Placement Network and Ohio Means Jobs Trumbull are co-sponsors.

Local bank stocks mixed

The 71 cent slide Cortland Bancorp saw at the close of trading on Friday stopped on Monday, when the stock closed at $15.84 a share. First Niles Financial was down 15 cents to close at $9 a share.

Airlines restore tiny perks

NEW YORK – After 15 years of near austerity, U.S. airlines are restoring some small perks for passengers crammed into coach.

Don’t expect ample legroom or free checked bags. But fliers will find improved snacks.

Hotels keep patrons healthy

FORT LAUDERDALE, Fla. – The hotel industry is moving beyond basement gyms and basic spa menus to accommodate guests’ growing requests to stay healthy while on the road.

The trend has been a mainstay at spas and wellness resorts for years, but now hotels frequented by business travelers and families are showing that life on the go doesn’t have to mean sacrificing spin class.

Staff, wire reports

Business & labor at a glance

Business briefs

BANKER NAMED MVEDC ‘LENDER OF THE YEAR’: Dan Schiavone, small-business lender in the Commercial Lending Department of Farmers National Bank, was honored by the Mahoning Valley Economic Development Corporation (MVEDC) as “Lender of the Year.” The honor was announced recently at MVEDC’s annual Lenders’ Appreciation event. Schiavone has been with Farmers since 2007. He resides in Poland with his family.

AUSTINTOWN BREWERY ANNOUNCES COLLABORATION: Paladin Brewing in Austintown has launched a collaboration with the nation’s largest homebrewing company, Mr. Beer. Mr. Beer will join Paladin Brewing to formally unveil the Sir Kenneth Blonde Ale collaboration. The unveiling will be held at a public event, 6 to 8 p.m. Feb. 12 at Paladin Brewing Tavern, 6520 Mahoning Ave., Austintown.

People on the move

NEW DEAN ANNOUNCED AT YSU: Kristine L. Blair, professor and former chair of English at Bowling Green State University, has been selected the new dean of the College of Liberal Arts and Social Sciences, or CLASS, at Youngstown State University. Blair will start the new position May 16. The appointment must be formally approved by the Board of Trustees in March. CLASS, with nearly 1,900 students, consists of nine academic departments and seven interdisciplinary programs, offering 20 majors. Blair replaces Jane Kestner, who has been serving as interim dean of the college since Shearle Furnish left the post in the summer of 2014. Blair earned a bachelor’s degree in Journalism in 1986 and a master’s degree in English in 1988 from California State University, Sacramento. She received a PhD in English Rhetoric from Purdue University in 1994.

HOME SAVINGS ANNOUNCES HIRING: Home Savings and Loan Co. announced the hiring of Timothy A. Beaumont as vice president, Commercial Relationship Manager serving the Mahoning Valley. Home Savings is a subsidiary of United Community Financial Corp. Beaumont brings 30 years of experience as a commercial banker specializing in credit, cash management, commodity/interest rate hedging, M & A and equipment leasing solutions, and more. Prior to joining Home Savings, Beaumont served as senior vice president, commercial banking, at Fifth Third Bank. He also held positions at Key Bank and First Place Bank.

VALLOUREC STAR ANNOUNCES PROMOTION: Vallourec Star recently promoted Garrett Francis to vice president, operations, overseeing the steel making, pipe rolling and finishing operations along with planning and logistics for the company’s facilities in Youngstown, Oklahoma and Houston. Previously Francis was general manager of Youngstown operations. He began his Vallourec Star career in 2009 as an industrial performance analyst and held a succession of supervisor and management positions within the pipe mill and finishing units.

New businesses

ROGERS JEWELRY OPENS IN MALL: Rogers Jewelers has opened its newest location this month inside Eastwood Mall. The Niles store features a modern, energy-efficient design incorporating environmentally sustainable materials. Rogers Jewelers is part of the Samuels Jewelers Inc. family of jewelry stores that includes Andrews Jewelers, Samuels Diamonds, Samuels Jewelers and Schubach Jewelers.

HD DAVIS CPAs OPENS IN YOUNGSTOWN: HD Davis CPAs is expanding in the Youngstown area with a location on the west side near the Mahoning Plaza. The firm has offices on the north side of Youngstown and in Geauga County and Massillon. The location will be geared to doing taxes, accounting and payroll of individuals and very small businesses. HD Davis CPAs was founded by Harold Davis, a longtime Youngstown CPA. The firm has four offices and 25 staff members and specializes in working with small businesses, performing QuickBooks accounting and consulting, payroll servicesand tax and advisory services. The north side office will continue to be the administrative home of HD Davis and cater to larger clients.

To submit information for Business briefs, People on the move or New businesses, email Tribune Chronicle Business Editor Virginia Shank at vshank@

tribtoday.com, or submit through the Virtual Newsroom at www.tribtoday.com.

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