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Rice Energy spin-off priced below expected range

By David Conti
Rice Energy’s discounted price for its gas pipeline spin­off underscores the importance of timing in the stock market. The Cecil-based gas operator’s master limited partnership, Rice Midstream Partners, priced its initial public offering 13 percent below the low end of its ...

Federated Investors forecasts optimistic scenario for growth in economy, markets

By Chris Fleisher
The nation’s economy is building momentum as it heads into the new year, but investment strategists at Federated Investors Inc. agree with Federal Reserve policymakers that the otherwise-rosy expectations could hit some headwinds. The company’s chief strategists for stocks and bonds ...

Wesco cautious, reaffirms guidance

By Alex Nixon
Wesco International Inc. said growing strength in commercial and residential construction will help lift its profits in 2015, but it is concerned about the impact falling oil prices will have on its sales to energy-related companies. The South Side-based distributor of ...

Harmar developer sells 15 hotels in Western Pa., West Virginia

By Tom Fontaine
A New York investment company has bought 15 hotels in Pennsylvania and West Virginia from a Harmar developer in a deal that further signals the strength of the region’s growing hospitality industry. “Business has been good for our region. That’s why ...

Fed emphasizes patient approach on rate increases

By The Associated Press
WASHINGTON — The Federal Reserve is edging closer to raising interest rates from record lows, given a strengthening economy. But it will be patient in ...

Consumer prices drop aside gas cost plunge

By The Los Angeles Times 12:01 a.m.
WASHINGTON — Plunging gasoline costs led to the largest drop in consumer prices in six years last month and added another complication for Federal Reserve ...

Stock market jumps as Fed pledges patience in rate hikes

By The Associated Press
NEW YORK — The U.S. stock market had its best day in more than a year after the Federal Reserve said it would to remain “patient” in its approach to raising interest rates. Stocks rose from the open on Wednesday, led ...

84 Lumber vice president McCrobie says company, housing market rebounding

By Chris Fleisher
If the booms and busts of the housing market were a roller coaster, Mike McCrobie sat in the front car. McCrobie, 37, is vice president of ...

FedEx 2Q profit jumps 23%; revenue up 8% at Moon-based Ground business

By The Associated Press
Growth in business-to-business shipping and home delivery helped drive revenue higher for FedEx Ground in Moon as it geared up for the holiday shopping season. Revenue ...

Insurers give customers extra time to pay first month’s premium for 2015 under Obamacare

By Alex Nixon
Health insurers are giving customers extra time to pay their first month’s premium for 2015 coverage purchased in the online marketplace under President Obama’s health care law because of possible delays in receiving renewal information from the government. There is concern ...

Natural gas groups says increase in Pennsylvania taxes would bring dire results for economy

By David Conti
Leaders of three natural gas industry groups joined forces Tuesday to fight increased taxes on their business as a McKeesport lawmaker renewed his proposal to enact a severance tax. The groups appear steadfast in their position that increasing the amount ...

FedEx to buy product-return firm Genco in e-commerce push

By Chris Fleisher
FedEx Corp. marked its busiest package delivery day of the year by acquiring Blawnox-based logistics firm Genco, a specialist in handling product returns as Internet ...

Airport Authority CEO eyes more direct flights at Pittsburgh International

By Bobby Kerlik
Allegheny County Airport Authority CEO Christina Cassotis said there’s opportunity to attract more direct flights at Pittsburgh International Airport, but community support is key in ...

Brazilian steakhouse coming to former Saks site Downtown

By Tom Fontaine
Washington County-based Millcraft Investments said Tuesday it secured the first of several retail tenants for a building it is planning on the site of Downtown’s former Saks Fifth Avenue department store. Fogo de Chão Brazilian Steakhouse will occupy space on the ...

Ocwen review flawed by unreliable data, mortgage settlement monitor says

By The Associated Press
WASHINGTON — The monitor overseeing a national mortgage settlement said Tuesday that Ocwen Financial Corp., one of the nation’s biggest servicers of home loans, has produced unreliable information about its business practices. Joseph Smith, who is monitoring banks’ and mortgage servicers’ ...

Apple wins class-action suit against iPod owners, resellers

By The Associated Press
OAKLAND, Calif. — A federal jury decided Tuesday that Apple didn’t compete unfairly when it sold music players and songs with copy-protection software that was ...

Repsol to buy Canada’s 5th largest oil producer, Talisman Energy

By Reuters
MADRID — Spain’s Repsol has agreed to buy Talisman Energy, Canada’s fifth-largest independent oil company and a major gas producer in Pennsylvania’s Marcellus shale, for $8.3 billion as the drop in oil prices pushes energy companies to take the plunge ...

Early oil-fueled rally fizzles on Wall Street

By The Associated Press
NEW YORK — Sudden twists in the price of oil and currency trading turned the stock market into a roller-coaster ride on Tuesday. Major indexes opened lower as falling oil prices and a plunge in the Russian ruble weighed on markets. ...

Thread of East Liberty morphs bottles into ‘authentic’ products

By Katelyn Ferral
Thread’s business plan may sound like an idealized, do-gooder recycling venture. Take plastic bottles used by impoverished people on one continent and turn them ...

Alcoa buying jet engine components maker Tital to help expand aerospace unit

By Alex Nixon
Alcoa Inc. is buying Germany-based Tital, a company that makes jet engine components, as the aluminum maker diversifies its business beyond its smelting and mining roots into higher-profit manufacturing of finished parts that target aerospace industry. Alcoa, based in New York ...