Average cost of gasoline steady in Western Pa.
The cost of gasoline in Western Pennsylvania was practically unchanged this week, with the average price for a gallon of regular unleaded moving down half a penny to $3.512 per gallon. Nationwide, the price was $3.255, according to GasBuddy.com.
PayPal plans to expand brick-and-mortar presence
PayPal said Monday it is expanding its payment service to more brick-and-mortar retailers, including RadioShack and Dollar General stores. eBay Inc.'s payments subsidiary is already accepted at retailers such as Abercrombie & Fitch, Barnes & Noble, Foot Locker, The Home Depot and others.
Swatch Group will buy Harry Winston brand
Swatch Group AG, the biggest maker of Swiss timepieces, agreed to buy the Harry Winston watch and jewelry brand for about $1 billion. Harry Winston Diamond Corp. will now be known as Dominion Diamond Corp. and focus on mining.
UPS drops plans for Dutch delivery company
UPS scrapped plans to grow in Europe through the acquisition of Dutch delivery company TNT Express because European regulators were getting ready to reject the $6.9 billion deal. Analysts don't expect rival FedEx Corp. to make an offer for TNT because it's in the midst of a major restructuring of its Express air cargo service.
U.S.-based VF Corp. offers to buy Billabong
Struggling Australian surfwear maker Billabong International Ltd. said Monday it has received a buyout offer of 526.8 million Australian dollars ($555.5 million) from a U.S. group that matches a takeover offer it received earlier. VF Corp., whose brands include Wrangler, Nautica and The North Face, said in a statement that it is mostly interested in the Billabong brand. The bid is identical to an offer Billabong received from a group including board member Paul Naude, Sycamore Partners Management and Bank of America Merrill Lynch in December.
Samsung reports Galaxy S surpasses 100 million
Samsung Electronics Co. said Monday that global sales of its Galaxy S smartphone brand have surpassed 100 million units since the first model in the series was released less than three years ago. Research firm IHS iSuppli said last month that Samsung beat Nokia in cell phone sales and Apple in smartphone sales last year.
Despite global sales mark, GM couldn't beat Toyota
General Motors Co., reporting its best full-year global sales results since 2007, failed to outsell Toyota Motor Corp.'s forecasted 9.7 million deliveries for 2012. GM sales in 2012 rose 2.9 percent to more than 9.2 million vehicles. That means Toyota probably has regained its spot as the world's top-selling automaker after losing it in 2011 following disasters in Asia that hurt operations. GM had held the title of top-selling automaker globally for 77 years before losing it to Toyota in 2008.
Also in business ...
Ric Perez has joined System One, a North Shore technical outsourcing firm, as chief nuclear officer. Mr. Perez joins the company from Westinghouse Electric Co., where he retired last year as president and chief operating officer.