Business briefs: Irish minister to speak to business owners
March 17, 2014 9:59 PM
AP Photo/John Amis, File
A Georgia Power crewman goes through the process of restoring power to a neighborhood as he works on a line, in Riverdale, Ga., on Feb. 13. The Federal Reserve will issue its February report on U.S. industrial output, which includes factories, mines and utilities.
From staff and wire reports
Irish minister to speak to business owners
Dennis "Dinny" McGinley, Irish minister of state, will speak Wednesday at the Rivers Club, Downtown, about business opportunities in Ireland. The event, sponsored by the Pittsburgh Irish Business Network, also will feature a presentation by Joe Burke of the state Department of Community and Economic Development about grants and other assistance available to companies interested in pursuing international business. For more information, email firstname.lastname@example.org or call 412-394-3900.
Easter Seals names new president, CEO
Easter Seals Western and Central Pennsylvania has named James G. Bennett as its new president and CEO. Mr. Bennett succeeds Lawrence P. Rager, who retired last month after 26 years as president and CEO. Mr. Bennett has served as the organization’s executive vice president since 1984 and has four decades of experience in human resources.
Saxonburg-based technology company earnings
Saxonburg-based infrared laser technology company II-VI Inc. downgraded its quarterly guidance due to restructuring within a newly acquired businesses. Earnings per share from continuing operations for the quarter, which ends March 31, now are expected to range from 10 cents to 13 cents per share, down from 15 cents to 18 cents predicted Jan. 28. The company projected revenues from continuing operations in the range of $165 million to $170 million, down from $175 million to $180 million. For the full fiscal year ending June 30, earnings per share are now expected in the range of 55 cents to 60 cents per share, down from earlier projections of 67 to 74 cents per share. II-VI closed at $15.50 Monday, down 4.3 percent.
Factory output rose in February by most in 6 months
The Federal Reserve said Monday that factory production surged 0.8 percent in February, nearly reversing a 0.9 percent plunge in January that was due mainly to weather. Overall industrial production, which includes manufacturing, mining and utilities, rose 0.6 percent in February.
Homebuilder confidence edges higher in March
The National Association of Home Builders/Wells Fargo builder sentiment index released Monday rose to 47 from February’s reading of 46, reflecting improved demand for new homes as the traditional spring home-selling season ramps up. Readings below 50 indicate that more builders view sales conditions as poor rather than good.
Hyundai overstated mileage in revamped Sonata
Hyundai Motor Co. said Monday it overstated the gas mileage of its revamped Sonata in publicity material for the media. In 2012, Hyundai and its affiliate Kia were found to have overstated gas mileage on 900,000 vehicles sold in the U.S. They agreed to pay up to $395 million to consumers as part of a settlement.
Honda recalls minivans
A potential fire risk has led Honda to recall nearly 900,000 of its popular Odyssey minivans. The voluntary recall affects 886,815 minivans from the 2005-2010 model years because the cover of the fuel strainer at the top of the gas tank could crack over time and lead to a fuel leak, increasing the risk of a fire, according to the National Highway Traffic Safety Administration. Repairs to the affected Odyssey vans could take a while, as the replacement parts aren't readily available.
Microsoft debuts new software
Microsoft Corp. on Monday released a version of its OneNote note-taking software for Macs and added new features and a free tier for all of the software’s users in moves clearly targeted at up-and-coming productivity software rival Evernote.
Sally Beauty says data breach was limited
Sally Beauty says that a security breach discovered on March 5 affected fewer than 25,000 credit and debit card accounts. The seller of beauty supplies is pursuing its investigation with a forensics firm. It is also working with the U.S. Secret Service. Sally Beauty Holdings Inc., which is based in Denton, Texas, said Monday that it will provide more information on its website in coming days, including notification of affected consumers and others.
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