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The outlines of a new industry are emerging as a few crowdfunding startups find ways to raise money for Main Street-type businesses that typically wouldn't interest private investors.
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*Marathon now owner of refinery with deadly past under BP. HOUSTON, Feb 1- Marathon Petroleum Corp on Friday closed its $2.4 billion acquisition of BP Plc's Texas City, Texas, refinery, both companies said.
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CINCINNATI-- Construction began Thursday on a consumer-data company's new $122 million headquarters in the heart of downtown Cincinnati, a development being touted for deepening the city's ongoing transformation from a declining Rust Belt dinosaur to a region pulsing with new development and revitalization.
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*U.S. and European stocks get a lift, MSCI world index higher. The MSCI world equity index was up 0.4 percent, having strengthened earlier on factory activity surveys for January in China and in the euro zone, which increased optimism over the global growth outlook. "
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*U.S. and European stocks get a lift, MSCI world index higher. The MSCI world equity index was up 0.4 percent, having strengthened earlier on factory activity surveys for January in China and the euro zone, which increased optimism over the global growth outlook. "
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LONDON, Feb 1- For all the frenetic activity in 2013 so far and in the face of a seemingly endless flood of newly-minted greenbacks, some of the world's biggest investors are already bracing for a rare U.S. dollar renaissance. To look at the 15 percent rise of the dollar against Japan's yen over in just three months, it's tempting to say the revival is already underway.
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CINCINNATI-- Telecommunications company Cincinnati Bell Inc. on Thursday named Ted Torbeck its chief executive, succeeding Jack Cassidy, who will step down as CEO and become vice chairman of the board of directors. Prior to joining Cincinnati Bell, Torbeck was CEO of Freedom Group, a subsidiary of private equity firm Cerberus Capital Management.
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Jan 31- Ben Venue Laboratories Inc., a unit of German drug company Boehringer Ingelheim, may not freely make or distribute drugs from its facility in Bedford, Ohio, until U.S. regulators have determined it is in compliance with good manufacturing standards. Ben Venue has repeatedly violated good manufacturing practices, the FDA said in a statement.
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NEW YORK-- Shares of Owens-Illinois Inc. rose Thursday after the glass container maker reported solid fourth-quarter results and provided a positive outlook for this year. THE SPARK: Owens-Illinois makes glass containers for beer, liquor and other beverages. THE BIG PICTURE: Owens-Illinois said shipments decreased, but it raised its prices.
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WASHINGTON-- A group of a half-dozen House members, equally divided between Democrats and Republicans, is nearing completion of wide-ranging immigration legislation similar to proposals by Senate negotiators and President Barack Obama, including a pathway to legal immigration status for 11 million illegal immigrants already in the U.S.
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*Credit Suisse accused of missing fraud, could owe $2 bln. Jack Grone, a Credit Suisse spokesman, had no immediate comment. Credit Suisse faces fraud and conspiracy claims by the state of Arizona, AllianceBernstein Holding LP, Lloyds TSB Bank Plc, MetLife Inc, Allianz SE's Pimco unit and other investors that bought National Century notes from 1998 to 2002..
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PERRYSBURG, Ohio-- The weak economy in Europe hurt quarterly results at Owens-Illinois Inc., but analysts had expected even worse, and the company's shares rose 4 percent in aftermarket trading. For this year, the Perrysburg, Ohio, company said emerging markets will keep helping growth, while Europe remains troubled.
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Jan 30- The uneven impact of the shale oil boom on the U.S. refining industry was brought into stark relief this week as Midwest and Gulf Coast refiners with easy access to cheap domestic crude posted strong earnings, while weak margins spelled the death of another East Coast plant.
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NEW YORK-- A KeyBanc analyst upgraded chemicals and materials maker OM Group on Wednesday, saying the planned sale of a business unit is a boon. THE SPARK: KeyBanc Capital Markets' Ivan Marcuse raised OM Group Inc. to "Buy" from "Hold" and set a $34 price target.
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CHARLESTON, W.Va.-- Expanding its footprint the Washington, D.C. market, United Bankshares Inc. will buy Virginia Commerce Bancorp Inc. in a deal worth $490.6 million, the company said Wednesday.
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Jan 30- More than 60,000 homes and businesses were without power from the Gulf Coast to Ohio Wednesday morning as a long line of thunderstorms crossed the United States, power companies said. The thunderstorms stretched from Louisiana to New York and caused tornado watches across the Southeast. The following is a list of some of the hardest hit utilities.
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Jan 30- Oil refiners Phillips 66 and Marathon Petroleum Corp reported quarterly earnings that raced past Wall Street estimates as they processed more of the cheaper crude from North American shale fields, lifting their refining margins. Phillips 66' s shares rose 5 percent to $62.75 in early trade on Wednesday, while those of Marathon were up 1 percent at $72.92.
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FINDLAY, Ohio-- Marathon Petroleum Corp. said Wednesday that it earned $755 million in the fourth quarter as it shopped for cheaper supplies of crude oil, raising its refining profit margin. Fourth-quarter net income was $2.24 per share compared with a loss of $75 million, or 21 cents per share, a year ago. Operating revenue was $20.68 billion, up from $19.42 billion.
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*Amazon rallies after results, Boeing also up. *S&P 500 on track for best month since October 2011. NEW YORK, Jan 30- U.S. stocks were little changed on Wednesday as data showing the economy unexpectedly contracted in the fourth quarter was offset by positive parts of the report and strong results from Boeing Co and Amazon.com Inc..
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COLUMBUS, Ohio-- Oxford Resource Partners LP is suspending cash distributions for the fourth quarter because of weak coal markets. Oxford Resource said it is still looking for ways to bolster its liquidity, including selling some excess Illinois Basin equipment.
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COLUMBUS, Ohio-- Several companies including Kroger Co. have won approval to receive job creation tax credits for their proposals in Ohio. Kroger plans to add 23 full-time jobs in Columbus, generating $1.5 million in additional annual payroll.