Common stock dividend OK'd for BNY Mellon
Bank of New York Mellon on Tuesday said directors approved a 15 percent increase in the quarterly common stock dividend, from 13 cents per share to 15 cents. The new dividend is payable May 7 to shareholders of record April 29. The bank last raised the dividend two years ago, from 9 cents to 13 cents. BNY Mellon had been paying 24 cents before it was cut in 2009 to conserve cash during the financial crisis.
Butler Memorial reaches 3-year pact with nurses
Butler Memorial Hospital has reached a contract agreement with its 375 nurses, who are represented by the Pennsylvania Association of Staff Nurses and Allied Professionals. The three-year pact, which had more than 80 percent approval by the nursing staff, includes both wage increases and increased contributions toward their health insurance.
April will see closures for 80 Caribou stores
Minneapolis-based Caribou Coffee plans to close 80 underperforming stores and convert another 88 stores to Peet's Coffee & Tea sites. Caribou said the stores will be closed in April but did not say where the closures would occur. The conversions will occur over the next 12 to 18 months in Washington, D.C., and eight states, including Pennsylvania, Ohio and Maryland. The company's website lists four locations in the Pittsburgh market -- South Side, Oakland, O'Hara and Brentwood. Caribou was taken private last year by a German investment firm that also holds a majority stake in Peet's.
Strip District tire recycling firm to work with Nascar
Liberty Tire Recycling in the Strip District will provide tire recycling services for Nascar. Officials of the National Association of Stock Car Auto Racing say they recycle about 120,000 Goodyear tires yearly in their top three national series. "By recycling more than 140 million tires annually, we reclaim nearly 1.5 billion pounds of rubber for innovative, eco-friendly products," said Thomas Carter, Liberty Tire's vice president of alternative fuels, in a release.
City-based companies earn Webby nominations
Duolingo, an Oakland online language learning service, has been nominated for a Webby Award for best education and reference app and best education website. The Crate & Barrel Wedding and Gift registry app created by South Side mobile commerce vendor Branding Brand was nominated as best shopping app. Olympic Color Genius, created by Downtown-based PPG Industries Inc. Architectural Coatings, was nominated as best lifestyle website. The Webby Awards, presented by the International Academy of Digital Arts and Sciences, have honored top Internet and Web-based businesses since 1996.
Downtown ad agency named agency of record for CARE
Downtown advertising agency Brunner said it has been named creative agency of record for Atlanta-based humanitarian organization CARE after a three-month competitive review. No financial details were given. In addition to Pittsburgh, Brunner has offices in Atlanta and Washington, D.C.
1M Ford Focuses make car best-selling in '12
It's official: The Ford Focus was the best-selling car in the world in 2012. Ford registered 1.02 million Focus cars in 2012, topping 872,774 for Toyota's Corolla, according to R.L. Polk & Co. data Ford released Tuesday. Ford's F-Series pickup line was the No. 3 nameplate. The top-selling car in the U.S. remains the Toyota Camry.
Several problems force Chrysler to recall 247,000
Chrysler Group LLC is recalling more than 247,000 SUVs and cars for several problems, including faulty gas tank hoses, broken drive shafts and air bag warning lights that illuminate when there's no problem. The largest of the recalls, posted Tuesday on the U.S. National Highway Traffic Safety Administration website, covers about 139,000 Chrysler 300, Dodge Charger and Dodge Challenger sedans from the 2011 and 2012 model years. Chrysler says it will fix the vehicles for free and will start notifying owners this month.
Google Fiber expands to tech-savvy Austin, Texas
Google Inc. says tech-savvy Austin, Texas, will be the next city to receive the search giant's ultrafast Internet service starting next year. Google on Tuesday did not reveal how much Austin customers will pay for Google Fiber, which is about 100 times faster than a basic cable modem. Last summer, Kansas City, Kan., became the first metro area in the U.S. to receive Google Fiber. Customers there pay $70 a month for the top-speed connection.
Wholesale stockpiles reportedly decline in Feb.
The Commerce Department said Tuesday that stockpiles at the wholesale level declined 0.3 percent in February. That followed a 0.8 percent increase in January, which was revised lower. The decline was the first in eight months and the biggest since September 2011. The decline was led by gasoline and farm products, which have fallen because of the drought in the Midwest. Sales at the wholesale level rose 1.7 percent, the most since November. The increase was led by large gains in gasoline, clothes and computers.
From staff and wire reportsbusinessnews