State treasurer encourages PA 529 account enrollment
Pennsylvania residents can save on their state taxes if they open a PA 529 college savings account by Dec. 31, state Treasurer Rob McCord reminded Friday. To encourage enrollment, which can be done online at www.PA529.com, the $50 enrollment fee will be waived for accounts opened before Dec. 31 using the code 2013. The state income tax deduction for 529 college savings plan contributions was increased to $14,000 per taxpayer, per beneficiary, in 2013. Mr. McCord said Pennsylvanians saved nearly $19 million last year through their 529 plans.
FedEx Ground explores options in Northampton
A spokeswoman for Moon-based FedEx Ground said Friday that the company is in "preliminary talks" with Allen Township and Northampton County for the potential building of a package distribution hub on property now owned by the Lehigh-Northampton Airport Authority.
Textron to make adjustments for purchase of Beechcraft
Textron Inc.'s chairman and CEO, Scott C. Donnelly, said Friday that his aviation company's $1.4 billion purchase of Beechcraft Corp. will require "restructuring and optimization of costs." But whether that includes job cuts hasn't been decided. Textron, Cessna Aircraft's parent company, announced late Thursday that it was purchasing Wichita, Kan.-based Beechcraft. The company emerged from bankruptcy 10 months ago largely freed from debt and its unprofitable Hawker business jet operations. Textron's purchase is expected to close by the second half of 2014.
GM announces second recall this year in China
General Motors Co. and its main Chinese partner will recall almost 1.5 million cars to replace a bracket that secures a fuel pump, China's product quality agency said Friday. The recall is GM's second this year in China.
Striking Cambodian workers demand minimum wage rise
Striking workers making shoes and clothes in Cambodia for Western brands briefly blocked roads around Phnom Penh and scuffled with police on Friday. The workers are demanding an increase in the minimum wage.