Business Briefs: Nonprofits in Social Venture Partners lightning round
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Nonprofits in lightning round
Social Venture Partners of Pittsburgh, a networking organization for nonprofits, will host Pittsburgh Fast Pitch on March 6 at the Fairmont Hotel, Downtown. During the event, 10 nonprofits will pitch their programs to compete for cash awards of more than $30,000. For more information call SVP Pittsburgh director Elizabeth Visnic at 412-441-0200 or SVP partner Pat Calhoun at 412-586-7246.
Orders jumped for core goods
The Commerce Department said Wednesday that orders for so-called core capital goods, which include industrial machinery, construction equipment and computers, rose 6.3 percent in January from December. A sharp fall in demand for commercial aircraft caused overall durable goods orders to drop 5.2 percent, the first decline since August.
Pending home sales rose
Pending home sales in January showed healthy increases in every U.S. region except the West, according to new data. The National Association of Realtors said its index of pending sales -- based on the number of home purchase contracts signed -- rose 4.5 percent in January from the previous month and 9.5 percent from January 2012.
Wonder sale nearly complete
Wonder bread could start appearing in school lunchboxes again soon. A person familiar with the situation says a bid by Flowers Foods to buy Wonder and several other bread brands from bankrupt Hostess was met with no competing offers. Hostess hasn't been making any of its cakes and breads since late November, when the company announced it was going out of business. The $360 million bid by Flowers also includes Nature's Pride, Butternut, Home Pride and Merita breads. The bidding process for Hostess snack cakes also is under way.
Clearwire to tap into Sprint
Wireless network operator Clearwire said it will tap into $80 million in financing from Sprint, putting a hurdle in the way of a possible sale to Dish. Clearwire has received buyout offers from both Sprint and Dish. In December, it agreed to a deal with Sprint Nextel Corp. that offered $2.2 billion for the 49 percent of Clearwire that Sprint doesn't already own. Dish Network Corp. bid about $5.15 billion for Clearwire in January. The company said it's still recommending shareholders accept the Sprint offer, but it intends to continue talks with Dish.
Hyundai adds to sunroof recall
Hyundai is adding more Veloster hatchbacks to a recall for panoramic sunroofs that can shatter and cause injuries. In December, the automaker recalled about 13,500 of the cars from the 2012 model year. Now it's adding about 6,100 more. The additional Velosters were built from July 4, 2011, through Oct. 31, 2011.
First Published February 28, 2013 12:40 am