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Wabtec’s 1Q profit up 15 percent on record sales

By John D. Oravecz 10:36 a.m.
Wabtec Corp. boosted first-quarter net income by 15 percent on record sales, the Wilmerding-based supplier of rail products said on Wednesday. The company reported a profit of $80.1 million, or 83 cents a share, on revenue of $695.2 million, compared …

Roundup: Renovations planned for South Hills Village; Average airfares rising slowly, government reports; more

By Staff and Wires
South Hills Village to be spruced up The owners of South Hills Village said Tuesday they plan to refresh the mall with new retailers and more “creature comforts.” As the mall approaches its 50th anniversary, Indianapolis-based owner Simon Property Group …

Concord sells four local hotels

By Sam Spatter
Four local hotels were among 13 sold by Concord Hospitality in a $240 million deal with companies owned by a global investment fund. Concord declined to identify the name of the buyer. But deeds filed in Allegheny County, listed Black …

Roundup: Treehouse Foods acquires Ontario firm; Economy gauge up for 3rd consecutive month; more

By Staff and Wires
Treehouse Foods to buy Canadian firm Treehouse Foods Inc. will acquire Protenergy Natural Foods of Ontario, Canada, from several private equity firms in a cash deal worth about $150 million. Protenergy makes private label broth, soups and gravies with 2013 …

Business Gallery: People on the move

By Tribune-Review
BANKING, FINANCE Washington Community Federal Credit Union hired: Connie George, mortgage specialist; Jennifer Johnson, front-line representative; Jerrica Kowcheck, digital marketing manager, Karen Roberts, manager of …

Roundup: PNC Bank a finalist for DoD award; Fifth Third Bancorp 1Q earnings fall 25%; more

By Staff and Wires
PNC Bank selected as finalist for Defense Department award PNC Bank was among 30 employers named as a finalist for the Department of Defense’s 2014 Secretary of Defense Employer Support Freedom Award, given to companies for providing exceptional support of …

Roundup: US home building up in March after frigid winter; Google’s 1Q earnings disappoint as ad prices slip; more

By Staff and Wires
Home building up in March Home construction rose moderately in March as builders resumed work at the end of a frigid winter. Builders started work on 946,000 homes at a seasonally adjusted annual rate in March, up 2.8 percent from …

Business roundup: American businesses increased stockpiles by 0.4 percent; Pittsburgh ranks fifth on list of safe investments; more

By Staff and Wires
Business stockpiles up 0.4 percent in February Businesses boosted their stockpiles in February as sales rebounded by the largest amount in nine months. Stockpiles increased 0.4 percent, following a similar 0.4 percent increase in January, the Commerce Department reported on …

Roundup: Sole Power named invention of the year; three firms share $265,000; more

By Tribune-Review
Unemployment claims fall  to lowest level since May 2007 Initial jobless claims plunged last week to their lowest level in nearly seven years, a sign that the labor market was picking up traction. The number of first-time claims for unemployment …

Family Dollar to close about 370 stores

By The Associated Press
Family Dollar plans to cut some jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. The discount store operator will lower prices on about 1,000 items. The retailer did not provide details on …

Toyota gas cars take gas-saving cue from hybrids

By The Associated Press
Toyota has developed an efficient gasoline engine using technology fine-tuned with gas-electric hybrids, in which the Japanese automaker is an industry leader. Toyota Motor Corp. said the engine will be rolled out in 14 models this year and next year. …

Airlines’ on-time record took a beating in February

By The Associated Press
The bad news for travelers is that airlines posted a terrible on-time performance in February, as winter storms fouled operations at several large airports. The good news is that no flights in the United States were stuck on airport tarmacs …

Nation’s oil reserves highest since 1976

By The Associated Press
Crude oil reserves in the United States grew for the fourth straight year, reaching the highest level since 1976, according to an Energy Department report. The report says reserves grew 4.5 billion barrels, or 15 percent, to 33 billion barrels …

Roundup: DISH agreement ends WTAE blackout; NRC won’t expand safety buffer around nuke plants; more

By Staff and Wires
Agreement with DISH ends WTAE blackout Hearst Television Inc. and DISH Network reached a transmission agreement on Wednesday that ended a temporary blackout for Hearst stations that DISH carried, including WTAE-TV in Pittsburgh. DISH began carrying the stations by early …

Roundup: Summer gas price to dip a penny; UPMC sells stake in Irish hospital; more

By Staff and Wires
Gas prices forecast to dip a penny Drivers will get the slightest of breaks on gasoline prices this summer, according to the Energy Department. The national average price is forecast to fall — by just one cent — to $3.57 …

Fab Universal faces delisting from NYSE

By John D. Oravecz
Fab Universal Corp. on Tuesday said it could be delisted from the New York Stock Exchange because it has not filed an important corporate document with the Securities and Exchange Commission. Fab, based in Oakland, said it was notified that …

Business roundup: Ford recalls nearly 435,000 vehicles; more

By Staff and Wires
Ford recalls nearly 435,000 vehicles Ford has recalled nearly 435,000 vehicles to fix rusting frame parts or faulty seats. The biggest of two recalls covers nearly 386,000 Ford Escapes from the 2001 through 2004 model years. Ford said the subframes …

Roundup: McDonald’s exits Crimea; Mazda recalling cars because spiders can damage fuel tank

By Wires
McDonald’s exits Crimea McDonald’s closed its three restaurants in Crimea as it evaluates the “evolving situation” on the Black Sea peninsula. The world’s biggest hamburger chain said on Friday that the closures were “strictly a business decision which has nothing …

Roundup: Westinghouse in talks to extend business in Ukraine; Aesynt acquires Italian company; more

By Staff and Wires
Westinghouse in discussions  to extend business in Ukraine Westinghouse Electric Co. is in talks with Ukraine to extend a nuclear fuel contract for three reactors in the European nation that is engaged in a territorial dispute with Russia, which opposed …

Roundup: Consol plans to restructure $1.5B in debt; Chrysler recalling 870,000 SUVs for brake defect; more

By Staff and Wires
Consol plans to restructure debt Consol Energy Inc. proposed restructuring  $1.5 billion in debt it took on in 2010 to help pay for the acquisition of natural gas exploration and production assets from Dominion Resources Inc. The Cecil-based natural gas …