Business news briefs: Pittsburgh area gas prices fall 3.2 cents

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Gas prices here fall 3.2 cents

Another week, another drop in gasoline prices in the Pittsburgh area. GasBuddy.com reports that gas prices have fallen to $3.48 per gallon, a 3.2 cent difference from the prior week. Consumers nationwide experienced a 4.2 cent decrease over the past week, bringing the average per gallon price to $3.38. GasBuddy.com analyst Patrick DeHaan marveled at the difference a year makes: At this time last year, U.S. drivers were paying over 50 cents more per gallon, while Pittsburgh-area consumers saw prices 37 cents higher than today. Mr. DeHaan expects the decline will continue in the week ahead.

Local software startup raises $4 million

Forever Inc., a Pittsburgh computer software startup founded by former FreeMarkets CEO Glen Meakem, said it has raised $4 million as part of a $16 million equity offering. The company's software is used to organize, store and access personal data, documents, photos and other content. Forever disclosed the offering in a Securities and Exchange Commission filing.

Japan Airlines places large Airbus order

Airbus secured its first ever order from Japan Airlines on Monday, in a deal that undermines Boeing's long-held dominance of Japan's aviation market. Japan Airlines is to buy 31 A350 planes with a list value of $9.5 billion, but airlines get discounts on big orders.

NexTier president stepping down

The president of NexTier Bank in Butler, Margaret Irvine Weir, plans to step down effective Oct. 28 from the bank founded by her great-grandfather to join the Federal Home Loan Bank of Pittsburgh as director of member services. Ms. Weir, who has been president for 13 years, also is stepping down from the board. In May, NexTier announced it was merging with Farmers & Merchants Bank in Kittanning. Terms of the transaction, which is expected to be completed early next year, were not disclosed. Ms. Weir's duties will be shared by the executive management team, the bank said in a news release Monday.

Citizens Bank Foundation launching initiative

Citizens Bank Foundation is launching its Growing Communities initiative with a $75,000 donation to the Hill District Community Development Corp. to promote development in the Hill District.

businessnews

First Published October 7, 2013 8:00 PM


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