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Thomas Olson 412-320-7854
Business Writer
Pittsburgh Tribune-Review

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Monday - June 17, 2013

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Pending FDA approval, trials to begin on ALung’s artificial lung

PNC Bank will be “closing branches and taking out layers of people” in 2013 to hold down expenses, the bank's CEO told Wall Street analysts Tuesday.

James Rohr said PNC plans to reduce expenses next year by at least $500 million, noting retail banking accounts for about half of its overhead. PNC is the nation's seventh largest bank, and operates about 2,900 branches.

PNC will close two local branches on Feb. 22, on Fifth Street in Freeport and on Beverly Road in Mt. Lebanon, it said Nov. 27.

1. Merck, Pfizer sue to block proposed version of AzaSite
2. Apple details requests for customers’ data
3. Google settles suit, clears way for stock split
4. Pending FDA approval, trials to begin on ALung’s artificial lung
5. Discrimination mediation started
6. Netflix to run original TV series from DreamWorks
7. Homebuilder confidence at 7-year high
8. Investors push stocks higher while guessing Fed’s next move
9. Smithfield Foods bid low, shareholder says
10. U.S. Acura production may be key
11. Small businesses hiring again, but cautiously

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