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EDMC reaches debt-restructuring deal with creditors

By John D. Oravecz 9:09 p.m.
Education Management Corp. has agreed to turn over an “overwhelming majority” of its ownership to creditors in a deal that would give the struggling operator of for-profit colleges a financial reprieve. The proposed restructuring will reduce the company’s debt to $400 million — a decrease of about $1.1 billion — …

Time Warner outage cuts Internet access for 11M subscribers

By Reuters 9:00 p.m.
Time Warner Cable Inc., America’s No. 2 cable operator, suffered an extensive network outage on Wednesday because of suspected human error that cut Internet services to about 11 million businesses and residences, prompting a New York state investigation. The outage …

S&P 500 holds steady at 2,000 level

By The Associated Press 9:02 p.m.
Even in a daylong sideways drift, the Standard & Poor’s 500 index managed to eke out its third record close in three days. Stocks ended essentially flat on Wednesday after spending much of the day wavering between tiny gains and …

DQE Communication inks data deal with Iron Mountain

By Trib Total Media 9:00 p.m.
DQE Communications will add fiber-optic lines to supply data services to Iron Mountain’s underground storage facility in Butler County as part of a 20-year deal the companies announced on Wednesday. The added lines between the Marion facility and DQE’s North …

Highmark denies premiums in federal insurance marketplaces affected by level of competition

By Alex Nixon
Highmark Inc. charges 80 percent more for insurance coverage on the federal insurance marketplace in West Virginia than it does for similar coverage in Western Pennsylvania but said the price in the neighboring state is not related to a lack …

2 top technology officers leave UPMC

By Alex Nixon
UPMC lost two of its top technology officers in recent weeks as the largest health system in Western Pennsylvania deals with an investigation into a huge data breach that exposed employees’ sensitive information. UPMC spokeswoman Wendy Zellner said neither departure …

Service industry leads loss of Pittsburgh jobs as summer winds down

By Chris Fleisher
Construction activity helped diminish the impact of seasonal declines in Pittsburgh’s job market but failed to make a dent in the unemployment rate. Employers in the seven-county Pittsburgh region shed 8,300 nonfarm jobs in July and the unemployment rate stayed …

McCandless Cinemark set to open Sept. 19

By Tribune-Review
The new movie theater in McCandless Crossing is officially scheduled to open Sept. 19, according to officials with Cinemark. The opening of the theater has been delayed several times. Construction plans were announced in 2011, and the theater originally was …

Burger King to buy Tim Hortons for $11B, move headquarters to Canada

By From Wire Reports
Burger King Worldwide Inc. and billionaire investor Warren Buffett endured sharp criticism over plans that would form a new Canadian company upon buying Tim Hortons Inc. to take advantage of Canada’s lower corporate tax rates. Burger King said on Tuesday …

Experts divided on Yellen strategy

By The Associated Press
WASHINGTON — Economists appear to be of two minds about the Federal Reserve. They agree with the Fed that the job market still isn’t healthy. Yet the latest Associated Press survey of economists finds that most fear the Fed will …

Study: Consumer confidence near 7-year high

By The Associated Press
Consumer confidence this month reached its highest point in nearly seven years, boosted by strong job gains. The Conference Board says its confidence index rose for a fourth straight month to 92.4 from 90.3 in July. The August reading is …

Feds close probe into Camry hybrid brake problems

By The Associated Press
An eight-month investigation into brake problems with some older Toyota Camry gas-electric hybrids has been closed without a recall. The National Highway Traffic Safety Administration began the probe in January when it got complaints of malfunctions that reduced power-assisted braking …

Hewlett-Packard recalls power cords

By The Associated Press
Hewlett-Packard Co. is recalling about 5.6 million notebook computer AC power cords in this country and 446,700 in Canada because of possible overheating, which can pose a fire and burn hazard. HP has received 29 reports of power cords overheating …

Home price gains slow in June

By The Associated Press
The nation’s home prices increased at a slower pace in June. The Standard & Poor’s/Case-Shiller 20-city home price index rose 8.1 percent in June from a year ago, according to a Tuesday report. That’s down from 9.4 percent a month …

U.S. credit card late payments down in 2Q

By The Associated Press
LOS ANGELES — Americans are doing a better job of making timely credit card payments, even as many lenders increasingly extend credit to more people with less-than-stellar credit. The rate of credit card payments at least 90 days overdue fell …

American, US Airways will stop listing on Orbitz

By The Associated Press
FORT WORTH — American Airlines and US Airways are pulling flight listings from Orbitz-run websites in a long-running dispute over fees that the travel company charges to list and sell the flights. Shares of Orbitz Worldwide Inc. fell nearly 5 …

Business Briefs

Roundup: Rex Energy expanding gas production at MarkWest plants; New hearings set in driller’s request for ‘forced pooling’; more

By Staff and Wires
Rex Energy expands production at new MarkWest plants MarkWest Energy Partners will more than double the capacity of its Butler County natural gas processing plant in part to accommodate the expanding needs of the anchor supplier Rex Energy. The companies …

Business Columnists

Jack Markowitz

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Retailers await kids’ verdicts at checkout

For retailers, the year has seven seasons — fall, winter, spring, summer, Christmas, Easter and back-to-school. The latter is upon …

John Browne

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Recession evidence abounds

A highly uncertain economic outlook faced those attending the Federal Reserve’s annual symposium at the end of last week in …

John Dorfman

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Dorfman: Value selections can be shrewd

An old Wall Street saying goes, “What’s the difference between being early and being wrong? There isn’t any.” Value investors …

Chris Posti

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Chris Posti: Get most from career coach

If you authorize coaching in your organization, would you like to know what you can do to increase the success …

Kim Komando

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5 apps that make you say ‘wow’

If you can dream it, there is an app for that. There are approximately 1.2 million apps in the Apple …

Real Estate

Twisted Gavel holds second sale; C&P changes date

By John Altdorfer
A newcomer arrives on scene with an end of the month sale at a location that spawned a couple successful area auctioneers over the years. …

Business Gallery

Business Gallery, Aug. 24, 2014

By Tribune-Review
BANKING, FINANCE First Commonwealth Bank hired Jesse Hannan as vice president and business banking officer. Ernst & Young LLP promoted: Jim Gilson, global business development …