Business news briefs: StarKist parent company faces probe over license
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StarKist parent company faces probe over license
Dongwon Industries, parent of North Shore-based StarKist, is under investigation over a tuna fishing vessel accused of using a fake fishing license in Liberia. The South Korean company issued a statement saying it had applied for its license "lawfully" through an agency in Liberia. "When Dongwon learned from the Liberian government that the license and correspondence validating the license were counterfeit, the company immediately urged the Liberian government to launch an investigation." The company said it sent representatives from Korea to resolve the issue. Meanwhile, activist group Greenpeace is calling on the South Korean government to call the Dongwon fleet home and the International Seafood Sustainability Foundation is reviewing the allegations.
26-year veteran named as upcoming PNC CFO
PNC Financial Services Group said Robert Q. Reilly will become chief financial officer of the region's largest bank when current CFO Richard J. Johnson retires in the third quarter. Mr. Reilly, 48, currently heads PNC's asset management group, a position he has held since 2005. He joined PNC in 1987. Mr. Johnson has been with PNC since 2003. The change in leadership coincides with the pending departure of chairman and CEO James E. Rohr, who will retire in April. He will be succeeded by president William S. Demchak.
U.S. Steel chairman's '12 compensation up
U.S. Steel chairman and CEO John P. Surma received compensation valued at $11.1 million last year, up from $10.2 million in 2011. His pay included a $1.3 million salary, unchanged from the previous year, and stock awards valued at $5.9 million.
Pittsburgh-area dealerships honored
Honda North has won the Honda President's Award for 2012, the top dealership honor Honda America gives. Honda North is one of only five in Pennsylvania to earn the 2012 award. It is Honda North's fourth straight year winning the honor and its sixth overall win since 2006. ... Land Rover North Hills was one of 16 dealerships to win the 2012/13 Land Rover Pinnacle Club Retailer Excellence award.
Gasoline prices help fuel February inflation rise
A spike in gasoline prices drove up inflation in February but outside the gain in fuel costs, the increase was modest. The consumer price index increased a seasonally adjusted 0.7 percent last month from January, the Labor Department said Friday. It was the biggest monthly rise since June 2009. Excluding volatile food and energy costs, core inflation rose just 0.2 percent in February. For the 12 months that ended in February, prices increased 2 percent.
Feb. factory production rises after Jan. fall
A strong increase in auto output boosted U.S. factory production last month a seasonally adjusted 0.8 percent in February from January, after falling 0.3 percent in the previous month, the Federal Reserve said Friday.
First Published March 16, 2013 12:00 am