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PITTSBURGH-- PPG Industries said Thursday that its third-quarter net income rose 9 percent as it took advantage of cost reductions and strong sales of coatings. The Pittsburgh company said it made $339 million, or $2.18 per share, compared with $311 million, or $1.96 per share, a year earlier.
Lehigh Gas expects the IPO to raise between $105. million and $122 million based on an assumed offering price of $20 per unit, according to its Securities and Exchange Commission filings. Lehigh Gas provides fuel to gas stations and runs convenience stores.
WASHINGTON-- Manufacturing in the Philadelphia region expanded in October following five months of declines, a positive sign for a U.S. manufacturing sector which had been weakening for much of the year. The better-than-expected reading from the Philadelphia survey followed a positive report on national manufacturing conditions.
HARRISBURG, Pa.-- A new state tax incentive designed to encourage companies to hire in Pennsylvania passed both chambers of the Legislature on Wednesday and was sent to Gov. "The beauty of this approach is that this is not revenue that is in the state currently," Senate Appropriations Committee Chairman Jake Corman, R- Centre, told colleagues. "
Catholic Health East of Newtown Square, and Trinity Health of Novi, Mich., announced Wednesday that they have signed a non-binding letter of intent to consolidate.
HARRISBURG, Pa.-- The union representing faculty at Pennsylvania's 14 state-owned universities is taking the first step toward a possible strike. Union officials say delegates from each campus will meet Saturday in State College for a strike authorization vote.
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.