Business Briefs: 4/17/14

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City rated as one of best for millennials

Young professionals planting roots in Pittsburgh are settling into one of the nation's best cities for millennials, according to Shadyside-based online review and rankings company, Niche. Using an analysis of more than a dozen factors, including data surrounding median rents, incomes and crime scores, Niche determined that Pittsburgh ranks 15th among the nation's major metropolitan neighborhoods for young adults ages 25-34. New York, Austin, Washington D.C., Chicago and San Francisco rounded out the top five. Within Pittsburgh, Shadyside was ranked as the best neighborhood for millennnials.  

Mylan Inc. gets approval for insomnia tablets

Mylan Inc. said it received regulatory approval for eszopiclone tablets, the generic version of Sunovion Pharmaceutical Inc.’s Lunesta tablets used to treat insomnia. Separately, Mylan said it and partner Famy Care Ltd. agreed to settle with Warner Chilcott Co. LLC over the generic version of the contraceptive, Generess Fe. Under the terms, Mylan may begin to sell the generic version on April 1, 2015, or earlier under certain circumstances, after receiving final regulatory approval. Alternatively, Mylan may launch an authorized generic version Oct. 1, 2015.

Local 2030 District ahead of goal to reduce energy

The Pittsburgh 2030 District is ahead of its goal to cut energy consumption by 10 percent by 2015, according to the Green Building Alliance of Pittsburgh. The group announced that the district, made up of 40 local property owners and 109 buildings, had reduced consumption by 11.6 percent by the end of 2013. The goal of the campaign is to cut energy, water and transportation consumption by 50 percent by the year 2030 as part of a national challenge.

Home building up in March after frigid winter

Home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction. Builders started work on 946,000 homes at a seasonally adjusted annual rate in March, up 2.8 percent from 920,000 in February, the Commerce Department said Wednesday. Construction of single-family homes rose 6 percent, more than offsetting a 3.1 percent drop in the construction of apartments, condominiums and town houses.

Factory output extended solid gains in March

Factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products. The Federal Reserve said Wednesday that factory production rose 0.5 percent in March after a revised 1.4 percent surge in February. Manufacturing output has climbed a solid 2.8 percent over the past 12 months.

Mt. Gox bitcoin exchange headed for bankruptcy

The Mt. Gox bitcoin exchange in Tokyo is headed for dissolution after a court rejected its bankruptcy protection application. Mt. Gox said Wednesday the Tokyo District Court decided the company would not be able to resurrect itself under a business rehabilitation process filed for in February.


From staff and wire reports


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