Business Briefs: Gasoline cost continues to rise in Western Pa.
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Gasoline cost continues to rise in Western Pa.
The cost of gasoline in Western Pennsylvania continued to increase this week, with the average price for a gallon of regular unleaded rising about 5 cents to hit $3.726. Pittsburgh's average is about 17 cents higher than the average national price, according to GasBuddy.com. The cost in Pittsburgh has gone up more than 20 cents in the past month.
Two elected to Mylan's board of directors
Cecil-based Mylan Inc. Monday said Melina Higgins, a retired partner at Goldman, Sachs & Co., and Mylan president Rajiv Malik were elected to the generic drug company's board of directors. The appointments expand the board to 13 members.
RBS execs: We thought Libor rigging was impossible
Royal Bank of Scotland Group Plc executives told lawmakers they believed it was impossible to rig Libor, less than a week after regulators found traders at the lender manipulated the benchmark for more than four years. RBS, the parent company of Citizens Bank of Pennsylvania, was fined $612 million last week for rigging the London interbank offered rate and similar benchmark interest rates. More than a dozen traders made hundreds of attempts to manipulate yen and Swiss franc Libor between mid-2006 and 2010, the U.S. Commodity Futures Trading Commission said. "It just didn't occur to anyone that it could be fiddled," former investment banking chairman Johnny Cameron told lawmakers. "You can't impose standards on people who don't wish to be moral."
Home prices increase as recovery broadens
Prices for single-family homes climbed in almost 88 percent of U.S. cities in the fourth quarter as the housing recovery broadened. The median sales price increased from a year earlier in 133 of 152 metropolitan areas measured, the National Association of Realtors reported Monday. In the third quarter, 120 areas had gains. An improving job market and low interest rates are driving up prices by fueling demand for a tightening supply of listings. U.S. home prices rose 8.3 percent in December from a year earlier, the biggest jump since May 2006, Irvine, Calif.- based CoreLogic reported Feb. 5.
N.J. casino first to have betting via hotel TV
Guests at one New Jersey casino won't even have to get out of bed in order to place a bet. The Borgata Hotel Casino & Spa in Atlantic City said it will become the first casino in the United States to let guests gamble over hotel room TV sets, starting Feb. 18. Its E-Casino program will let guests with player's cards set up electronic accounts and risk up to $2,500 a day. Slots and four kinds of video poker will be the first games offered. The casino says the technology can be expanded to include gambling over hand-held devices anywhere on casino property, which New Jersey recently authorized, and full Internet gambling, if the state approves it.
Mountain Dew introduces breakfast drink
If you don't like coffee or tea, Mountain Dew has a new breakfast drink that might perk you up. PepsiCo Inc. is rolling out a new drink called Kickstart this month that has Mountain Dew flavor but is made with 5 percent juice and Vitamins B and C, along with an extra jolt of caffeine. The company, based in Purchase, N.Y., is hoping to boost sales by reaching Mountain Dew fans at a new time of day: morning. PepsiCo said it doesn't consider Kickstart to be an energy drink, noting that it still has far less caffeine than drinks like Monster and Red Bull and none of the mysterious ingredients that have raised concerns among lawmakers and consumer advocates.
First Published February 12, 2013 12:03 am