Business Briefs: Time is running out for Hire Heroes credit
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Businesses have until Dec. 31 if they want to hire an unemployed veteran and take advantage of a federal tax credit of up to $9,600. The amount of the credit under the Hire Heroes Act of 2011 depends on several factors, such as the length of time the veteran was unemployed, hours worked and the amount of first-year wages. At www.IRS.gov, search for "WOTC."
Virginia's attorney general agreed not to pursue fraud claims against Bank of New York Mellon involving the bank's handling of state and local employee pension funds in a deal that extends that state's contract with the bank for up to 10 years at reduced fees, according to the AG's office. BNY Mellon is facing several lawsuits, including one by the U.S. attorney in Manhattan, over pricing of foreign-currency trades on behalf of clients.
The average price of gasoline in Pittsburgh fell this week to $3.663 for a gallon of regular unleaded. That's down about 3 cents from last week, according to GasBuddy.com. The average price for a comparable gallon nationwide this week was $3.460. Gas prices in Pittsburgh are up almost 20 cents from this time one year ago.
Tulsa-based Anchor Drilling Fluids USA Inc. announced Monday it was opening a drilling fluids production facility in Wellsville, Ohio, which is about 30 miles west of Aliquippa. The 10,000-barrel production facility will build and store fluids that are used to drill oil and gas wells in the Utica and Marcellus shales.
The United States will become the world's largest oil producer by around 2020, temporarily overtaking Saudi Arabia, as new exploration technologies help find more resources, the International Energy Agency forecast on Monday. The energy watchdog also predicted that -- thanks partly to a boom in shale gas output -- the U.S. will become nearly self-sufficient around 2035.
The Jewish Healthcare Foundation has issued Fine Awards to three institutions for improving outcomes for patients transitioning between care settings and providers: UPMC Montefiore and the Montefiore Rehabilitation Institute, Transplant Service Line for preventing readmissions through improved discharge planning; Excela Health's Latrobe and Westmoreland hospitals for reducing wait times; and Children's Hospital of Pittsburgh of UPMC, Children's Community Pediatrics, and Western Psychiatric Institute and Clinic of UPMC for integrated behavioral health services in the Pediatric Medical Home.
Universal Stainless & Alloy Products said workers at its Dunkirk, N.Y., plant represented by the United Steelworkers union have agreed to a five-year contract. Terms were not disclosed. ... Ontario-based Research In Motion said Monday that it will hold an official launch event for its new BlackBerry 10 smartphones on Jan. 30. The new phones are seen as critical to RIM's survival.
First Published November 13, 2012 12:00 am