New leader at logistic firm
O'Hara-based logistics company Genco announced Monday that Laurie Barkman, who had been the chief operating officer of the company's liquidation subsidiary, Genco Marketplace, was promoted to president and CEO of Genco Marketplace.
Area gas prices inch forward
Pittsburgh-area gas prices rose for a second consecutive week, though not by much. The average price for a gallon of gas was $3.37 Sunday, according to a survey by fuel tracking website GasBuddy.com. That's a 1 cent increase from last week.
Regional bank's CFO to retire
First Commonwealth Financial Corp. said Monday its chief financial officer, Robert Rout, 61, would retire during the first half of 2014. The Indiana, Pa.-based bank said it would search for a replacement from inside and outside the company.
Manufacturing pace quickens
U.S. manufacturing grew in November at the fastest pace in 2 ½ years. The Institute for Supply Management said Monday that its index of manufacturing activity rose to 57.3. That was up from 56.4 in October and was the highest since April 2011.
Projects boost construction
U.S. developers boosted construction spending in October at the fastest pace in more than four years, propelled by a surge in government projects. But spending on home construction and commercial projects both fell. Overall construction spending increased 0.8 percent in October to a seasonally adjusted annual rate of $908.4 billion, the Labor Department said Monday.
Saab cars making return
Two and a half years after Saab shut down production due to financial trouble, the Swedish car rolled a new sedan off its assembly lines in Trollhattan, Sweden, on Monday. National Electric Vehicle Sweden, the Hong Kong-based company that bought the brand out of bankruptcy in September last year, presented its new 9-3 Aero Sedan as the first in a series of new cars it will produce.
Bank of America, Freddie deal
Bank of America Corp. agreed to pay $404 million to Freddie Mac in a deal that caps the lender's efforts to resolve repurchase claims on mortgages sold before the financial crisis. The accord covers about 716,000 loans created by Charlotte, N.C.-based Bank of America and sold to Freddie Mac, the firms said Monday in separate statements.
Agency takes control of sites
Europol says American and European authorities have taken control of 690 websites that were selling counterfeit merchandise. Visitors to the websites will be redirected to a warning notice.