PNC Bank customers report online mobile account issues
Some customers of PNC Bank reported having problems accessing their accounts online and via mobile banking Friday. Spokeswoman Marcey Zwiebel said the bank was investigating the cause and working to restore access.
Moon Kmart location closing doors in July
The Kmart store in Moon will be closing mid July with liquidation sales set to start Sunday according to a company spokesman for Sears Holdings Corp. The store closures are part of a series of actions we're taking to reduce ongoing expenses adjust our asset base and accelerate the transformation of our business model said spokesman Howard Riefs in an emailed statement. That location employs 143 people he said who can apply for positions in other Kmart and Sears stores. In the last year Sears Holdings closed a Sears store in Wilkins and a Kmart at Parkway Center Mall.
U.S. Steel Nanticoke USW fail to reach contract deal
U.S. Steel has notified workers at its Lake Erie Works in Nanticoke Canada that it intends to lock them out effective Sunday at 9 a.m. after failing to reach agreement on a new labor contract. Members of United Steelworkers Local 8782 overwhelmingly rejected the company's final offer.
Grant is in the works for low income homebuyers
Low income homebuyers could receive a grant for their down payment and closing costs for up to $1 500 from a program offered by the Homeownership Affordability Fund and Pittsburgh Community Reinvestment Group in partnership with Fifth Third Bank. Eligible applicants must have household incomes below 80 percent of the area median income as defined by the U.S. Department of Housing and Urban Development or be borrowers purchasing a home in low to moderate income census tracts. Pittsburgh Community Reinvestment Group is responsible for the approval process. Those interested should contact Bethany Davidson at 412 391 6732 ext. 201 or bdavidson pcrg.com.
Salary raise awards push up rue21 leader's earnings
Robert N. Fisch who serves as chairman president and CEO of Cranberry teen clothing retail chain rue21 got a nice raise last year earning a total of $3.96 million compared to $2.57 million a year earlier. Mr. Fisch's base salary rose from $975 000 to $1.025 million but the significant difference between the two years was $2 million in stock and option awards according to a regulatory filing.
Insurance Department set to decide on Highmark plan
On Monday the state Department of Insurance is expected to render its decision on Highmark Inc.'s proposed acquisition of the financially ailing West Penn Allegheny Health System. The affiliation was proposed in 2011 and the Insurance Department has spent the last two years reviewing the merger and its implications. Tuesday is the expiration date of the merger agreement between Highmark and WPAHS and multiple Harrisburg officials said the governor's office has been reaching out to lawmakers this week telling them that a conditional approval of the deal could be imminent.
Earnings
Allegheny Valley Bancorp reported net income for the three months ended March 31 slumped to $415 000 or 43 cents per share down from $702 000 or 74 cents in the same quarter last year. The decline was primarily due to a drop in net interest income.
GNC Holdings Inc. reported first quarter net income of $72.6 million or 73 cents per diluted share compared to $63.8 million or 59 cents per share a year ago. Revenue was $664.7 million vs. $624.3 million.
From staff and wire reports
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