Business Briefs: 5/23/14


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U.S. Steel does not know impact of cyber attacks

U.S. Steel disclosed it cannot determine whether cyberattacks against the company that led to the indictment of five Chinese military officials Monday had a material impact on the company’s finances. The attacks included accessing U.S. Steel computers in 2010 while the company was litigating a trade case against Chinese imports. U.S. Steel made the disclosure Thursday in a securities filing. It said it is cooperating with the investigation and enhancing its computer system to thwart future attacks. 

4Moms plans move to bigger Downtown office

Strip District-based 4Moms, which makes robotics products for parents of infants and toddlers, will upgrade to a 78,000 square foot, $4.7 million office space in Downtown’s Fiserv building. The company is planning to move in near the end of the year. 4Moms has been approved for a partial funding grant of $200,000 from the Pennsylvania First Program to go toward the move. The expansion is expected to create approximately 120 new jobs and to help retain 100 existing positions over the next three years. 

Niederauer steps down at New York Stock Exchange

Citing a rapid integration with the IntercontinentalExchange Group, Duncan Niederauer stepped down as CEO of the New York Stock Exchange. Thomas Farley, NYSE’s chief operating officer, will succeed him, taking the title of President of the NYSE Group.

Marathon Petroleum buys Hess stations

Marathon Petroleum will spend $2.87 billion to acquire the retail operations of Hess, the largest chain of company operated gas stations and convenience stores on the East Coast. The deal will expand Marathon’s retail operations from nine states to 23 states. The acquisition is expected to close late in the third quarter.

Home sales rose 1.3 percent in April

The National Association of Realtors said Thursday that sales rose 1.3 percent from March to a seasonally adjusted annual rate of 4.65 million. Purchases of homes over the past 12 months have dropped 6.8 percent. 

Gauge of economy posts 0.4 percent April gain

The Conference Board said Thursday that its index of leading indicators increased 0.4 percent in April following an upwardly revised 1 percent gain in March. The strength in April was led by improving housing and financial market conditions. The biggest negative factor holding the index back was a drop in average weekly manufacturing hours.

Airline industry adds jobs

The Transportation Department said Thursday that U.S. passenger airlines employed the equivalent of 383,610 full-time workers in March, up nearly 1 percent from a year earlier. It was the fourth straight monthly gain. United had the most workers, 80,694, but that was down 2.1 percent. Delta added the most jobs.

Toyota recalling 516,000 vehicles

Toyota said Thursday it’s recalling 516,000 vehicles worldwide — including 430,500 in the U.S. — for three separate safety problems, including brakes that can activate without warning. The largest recall, of 450,000 Sienna minivans from the 2004-2011 model years, targets vehicles sold in cold weather areas.

From staff and wire reports


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