Business news briefs: For second week, PNC warns of log-on issues
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For second week, PNC warns of log-on issues
For the second week in a row, PNC Bank warned customers they may experience trouble logging into their accounts. Thursday morning, "PNC systems began experiencing a high volume of Internet traffic consistent with recent threats against U.S. banks," Pittsburgh's biggest bank said on its Facebook page. Intermittent problems started last week after a group called the al-Qassam Cyber Fighters threatened a wave of so-called denial of service attacks on a handful of big banks to protest an anti-Islamic video. PNC urged customers having access problems to keep trying.
New York investment firm reduces Kennametal stake
A New York investment firm has reduced its stake in Kennametal to 4.9 percent. Atlantic Investment Management sold 1.5 million shares between Nov. 1 and Wednesday at prices between $35.28 and $41.38, according to a securities filing. Atlantic disclosed in June it acquired a 5.4 percent stake in the Latrobe tool maker.
3 lots of generic Vicodin recalled by Mylan Inc.
Mylan Inc. on Thursday announced a nationwide recall of three lots of generic Vicodin because the pills could be super potent. The hydrocodone bitartrate/acetaminophen tablets (10 mg/500 mg) were made by Qualitest Pharmaceuticals and repackaged by Mylan under the UDL Laboratories label. The lot numbers are 3037841, 3040859 and 3042573. Consumers with affected lots may call Mylan at 800-848-0462. Separately, Mylan reached a settlement resolving a patent lawsuit over the generic version of Orion Corp.'s Comtan tablets used to treat Parkinson's disease. Under the agreement, the Cecil-based drug maker may launch the generic April 1 at the earliest.
Highmark to up price of low-income insurance
The price of Highmark's "Special Care" health insurance products for low-income customers will increase, on average, 5 percent starting Jan. 1, affecting about 40,000 Pennsylvania policyholders. In July, the Pittsburgh insurer petitioned the state Insurance Department for a 9.5 percent increase on its Special Care products, but that request was later trimmed in half. In 2011, Highmark initially requested a 9.9 percent price increase for Special Care products, then reduced that increase request to 4.9 percent. Special Care is a subsidized, guaranteed-issue health insurance policy.
2 companies form venture to process Utica Shale gas
Two midstream companies are forming a $1.5 billion joint venture to help process gas in the Utica Shale in Ohio and in parts of Pennsylvania. Richmond, Va.-based Dominion and Dallas-based Caiman Energy, LLC announced the joint venture, called the Blue Racer Midstream, LLC, on Thursday. Dominion will provide midstream assets that process and transport the natural gas, and Caiman is providing the private equity capital.
Also in business ...
Hermitage-based FNB Corp. appointed two new members to its board of directors: former Calgon Carbon Corp. CEO John Stanik and Laura Ellsworth, partner-in-charge for the Pittsburgh office of the law firm Jones Day. ... Showclix, a Downtown-based digital ticketing agency, announced it sold $234,799 in debt securities to five undisclosed investors. The private company has $265,201 in remaining securities to be sold.
First Published December 21, 2012 12:00 am