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Business news briefs: Local gas prices higher than national average
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The price of gasoline in Western Pennsylvania was stable this week at $3.86 per gallon, which is still higher than the national average of $ 3.80, according to GasBuddy.com. Prices in the area this week were 38 cents higher than one year ago.
UnitedHealth Group Inc. said Monday it will spend about $4.9 billion to buy a majority stake in Brazilian health benefits and care provider Amil Participacoes SA. UnitedHealth, based in Minnetonka, Minn., had revenue of $101.9 billion last year. Its shares rose 0.82 percent to $57.60 in trading Monday.
Navistar International Corp., the truck maker trying to end losses, saw its share rise after it averted a proxy fight with investor Carl Icahn by agreeing to accept three new directors. Navistar rose 7.54 percent to $22.81 Monday. The Lisle, Ill.-based company added Vincent Intrieri, an Icahn representative, and investor Mark Rachesky as directors. Navistar said it agreed to add a third director to be designated and agreed upon by Icahn and Mr. Rachesky and their affiliates. The new directors will stand for election next year.
Foxconn Technology Group, the assembler of Apple Inc. iPhones, had to stop production for the second time in as many weeks after factory-line workers at one of its plants in China protested against increased pressure. The employees, who work as many as 12 hours a day, say the difficulties of meeting Apple's demands for quality and abuse from guards set off the latest incidents.
General Motors plans to hire up to 1,500 workers to staff a new computer technology center outside Detroit. The carmaker plans to hire 10,000 people at four new technology centers in the next three to five years.
BP has finally found a buyer for its Texas City refinery. Marathon Petroleum Corp. will pay $598 million for the refinery itself and other nearby pipelines and fuel terminals. It will pay $1.2 billion for the plant's inventory of oil and petroleum products. BP has been trying to sell assets to help cover costs associated with the 2010 Deepwater Horizon explosion and oil spill. In trading Monday, Marathon shares jumped 5.56 percent to $57.92. BP shares were basically flat at $42.26.
YouTube is extending its original programming initiative into Europe, with at least 60 new video channels from media companies including Britain's BBC. The Google Inc.-owned video site said Monday the new channels, with content from Britain, Germany, France and the United States, will be in addition to the 100 channels launched in the U.S. last year.
First Published October 9, 2012 12:00 am
