Decision on Esmark plant looms amid outside interest
Esmark said it has not made a decision about restarting a Yorkville, Ohio, steel plant idled last year by the bankruptcy of RG Steel, but that several groups are interested in buying the operation. Sewickley-based Esmark last year paid $6.3 million for the steel processing plant and a 50 percent stake in a related joint venture when RG Steel's assets were auctioned in bankruptcy court. Esmark chairman and CEO James P. Bouchard said he expects a decision on whether to operate Yorkville or sell it will be made by the end of September.
Local simulation tech firm working with Russia institute
Southpointe-based simulation technology company Ansys will partner with Russian aviation research institute GosNIIAS to bolster the country's aviation systems development. Ansys will create technology to help the country update its safety compliance process.
Lawrenceville theater, craft beer store are set to launch
Lawrenceville-based Breakin Enterprises announced it will open the Row House Cinema and Atlas Bottle Works in Lawrenceville in December. The theater will be located at 4115 Butler St. and will feature classic and cult films. Atlas Bottle Works, a craft beer store with a selection of local brews, will open next door. Breakin Enterprises has launched a crowdsourcing campaign through IndieGoGo to raise $14,000 to complete the project by late 2013. Visit http://www.indiegogo.com/projects/row-house-cinema for more information.
Pittsburgh firm to market Mitel cloud comm network
Lawrence-based Black Box Corp. has partnered with Ontario, Canada-based Mitel Networks Corp. to sell its products. Black Box will market, sell and support Mitel's cloud communications services in the United States.
Home prices in United States nearly match seven-year high
U.S. home prices rose 12.1 percent in June from a year earlier, nearly matching a seven-year high. But month-over-month price gains slowed in most markets, according to the Standard & Poor's/Case-Shiller 20-city home price index, which does not include Pittsburgh.
American fiscal confidence nears 2008 milestone
Americans' confidence in the economy inched closer to a 5 1/2-year high on growing optimism that hiring and wages could pick up in coming months. The Conference Board, a New York-based private research group, said Tuesday that its consumer confidence index rose to 81.5 in August. It has yet to get back to the 90 reading that signals a healthy economy.
Penney's top investor set to sell entire stake at loss
J.C. Penney's biggest investor, William Ackman, plans to sell his entire stake in the struggling department store operator for about $504.4 million -- a loss of around $470 million from what he paid for it. The move comes two weeks after he resigned from J.C. Penney Co.'s board as part of a deal to resolve an unusually public battle between the activist investor and the retailer.
Starbucks pushes further into packaged food category
Starbucks says it will start rolling out its own brand of snack bars and fruit pouches, marking yet another push into the packaged food category. The Evolution Harvest snacks will begin appearing in U.S. cafes next week, with plans to reach all major metropolitan markets by the end of September. Evolution bars will cost $1.95 and replace the Kind bars the chain currently sells.