New research explains how employees respond when their traditional pension plan is replaced with a newer model.» Read More
PITTSBURGH-- The Pennsylvania Supreme Court had an unusual standing-room-only crowd Wednesday, as lawyers debated a new law that regulates the state's booming natural gas industry. The Supreme Court currently has three Republicans and three Democrats, and cannot overturn a lower court decision on a 3-3 tie vote.
HARRISBURG, Pa.-- A state-run health insurance exchange is unlikely to be ready for a scheduled January 2014 rollout, Pennsylvania's top insurance regulator said Wednesday.
On Tuesday, the NHL made its strongest, and most public, pitch yet to save a full season. "I hope we can get going ASAP," Red Wings defenseman Niklas Kronwall told The Associated Press on Wednesday. " Fehr met with the union to formulate a response, and in a letter to players and agents said the management plan would cost his members more than $1.6 billion over six years.
PITTSBURGH-- Shares of Wesco International jumped 10 percent before the markets opened Thursday after the company edged out profit expectations for the third quarter and announced the acquisition of a Canadian electrical supply company. The company also announced a deal to acquire EECOL Electric Corp. of Calgary, Alberta, for about $1.16 billion.
Fifth Third's net income available to common shareholders fell to $354 million, or 38 cents per share, from $373 million, or 40 cents per share, a year earlier.
That's a sign layoffs are increasing, but the Labor Department said that there were technical reasons behind rise, such as delayed figures from California. The Federal Reserve Bank of Philadelphia says that manufacturing in the Philadelphia region expanded in October after five months of declines.
NEW YORK-- An analyst downgraded PNC Financial Services' rating on Wednesday, saying the bank's third-quarter net interest margin compressed more than expected and its preferred dividends will likely rise considerably next year.
WASHINGTON-- Republican candidates for the Senate in conservative-leaning states generally outraised their Democratic opponents in the latest fundraising quarter ending Sept. 30, but Arizona proved an exception as former surgeon general Richard Carmona raised nearly $500,000 more than Republican Jeff Flake.
The Atlantic City Alliance, the new marketing arm of the casinos, says its multimillion-dollar advertising campaign shows people in New Jersey, New York, Pennsylvania and Baltimore, Md., are improving their perceptions of Atlantic City. That money is now being used to promote Atlantic City more aggressively than ever before.
The International Olympic Committee has signed a deal with U.S. sportswear giant Nike to supply uniforms and products to members and staff. IOC members will wear Nike outfits at the 2014 Winter Games in Sochi, Russia, and 2016 Summer Olympics in Rio de Janeiro, as well as various other meetings and events.
EAST GREENVILLE, Pa.-- Knoll Inc. said Wednesday that its third-quarter net income fell 34 percent as revenue declined on weak demand. The iconic furniture maker reported Wednesday that it earned $12.2 million, or 26 cents per share, for the quarter that ended Sept. 30. That's compared with $18.4 million, or 39 cents per share, in the same quarter last year.
In between its founding and its near-death, the company now called Citigroup has played a central role in U.S. financial history. On Tuesday, Corbat was named Citi's new CEO after the abrupt departure of Vikram Pandit, who had led the company through the financial crisis and its aftermath.
HARRISBURG, Pa.-- The ratings agency Standard& Poor's has revised Penn State University's outlook to negative from stable, citing litigation against the school over the Jerry Sandusky child molestation scandal, but affirmed its long-term bond rating.
PITTSBURGH-- Pennsylvania's Supreme Court heard arguments Tuesday in a natural gas case that could create chaos for major energy companies and thousands of leaseholders. The Powers estate claims that the reference to "minerals" in the old deed gives them part ownership of the natural gas locked in the Marcellus Shale under the property.
BOSTON-- Investors, concerned about PNC Financial Services Group Inc.' s ability to grow profit amid record-low interest rates and increasing expenses, drove down the bank's shares Tuesday after its third-quarter results.
HARRISBURG, Pa.-- A bill to revamp employment rules for children, particularly those working in entertainment, is on its way to the desk of Pennsylvania Gov. The House voted unanimously Tuesday in favor of the measure, which in many ways is patterned after California's law and brings Pennsylvania closer in line with federal rules.
New Cleveland Browns owner Jimmy Haslam III said Tuesday that Holmgren was out as team president, although the Super Bowl-winning coach will remain with the franchise to help in the transition. Haslam was introduced as the Browns' new boss after the 32 NFL owners unanimously approved his $1 billion purchase of the team from Randy Lerner.
STATE COLLEGE, Pa.-- Penn State will not renew the contract of athletic director Tim Curley, who has been on leave since being charged last year with perjury and failing to report a child sex abuse allegation against Jerry Sandusky.
NEW YORK-- Propane company AmeriGas Partners LP on Tuesday predicted net income for its current fiscal year that is above Wall Street expectations, if this winter has "normal" weather. For another profit measure that excludes interest expense, income taxes, acquisition costs and other one-time items, AmeriGas now expects $630 to $660 million.
LANCASTER, Pa.-- Turkey Hill Dairy of Lancaster County, Pa. has announced a voluntary recall of about 1,200 cartons of Mint Chocolate Chip All Natural Ice Cream because it contains coconut that's not listed on the label.