Giant Eagle to cut 75 jobs
Giant Eagle is trimming 75 positions, mostly at the O'Hara grocer's corporate offices, as part of a continuing effort to cut costs and operate efficiently. Employees were notified this week, said Rob Borella, senior director of corporate communications. The private company employs 36,000 people in four states and about 11,000 in Western Pennsylvania, a mix of part-time and full-time workers. Mr. Borella said the positions being trimmed were identified through reviews done in the routine course of business.
PPG names new unit leaders
PPG Industries said Michael McGarry, 54, an executive vice president, has assumed responsibility for its architectural coatings and flat glass businesses. J. Rich Alexander, 57, an executive vice president who formerly led those businesses, will retire effective March 1. Mr. McGarry will also oversee PPG's Europe, Middle East and Africa region as well as information technology, environment, health and safety, and corporate quality functions. Also, the company said Viktoras Sekmakas, 52, executive vice president, will assume responsibility for PPG's fiber glass business, the Asia Pacific region and purchasing and logistics.
Wine exports grew in 2012
U.S. wine exports grew for the third consecutive year in 2012, setting a record of $1.43 billion in revenue, the San Francisco-based Wine Institute said Thursday. Ninety percent of those exports were from California. The European Union remained the top market for California wines, accounting for about 34 percent of all sales.
Prices mostly flat in January
Inflation remained flat in January for the second month in a row. The consumer price index has risen 1.6 percent in the 12 months ending in January, the Labor Department said Thursday. That's down from a 2.9 percent pace a year ago. Excluding the volatile food and energy categories, core prices rose 0.3 percent in January. Core prices have risen 1.9 percent in the past year.
January home sales rose 0.4%
The National Association of Realtors said Thursday that sales rose 0.4 percent in January compared with December to a seasonally adjusted annual rate of 4.92 million. That was the second-highest sales pace since November 2009, when a temporary home buyer tax credit had boosted sales.
Indicators up slightly in Jan.
The Conference Board says its index of leading indicators rose 0.2 percent in January to 94.1, the second straight increase after a gain of 0.5 percent in December. The gauge is designed to anticipate economic conditions three to six months out.