Business news digest

REGION

FNB plans luncheon for Treasurer Cordray

CANFIELD — Farmers National Bank will host a luncheon Tuesday for Ohio State Treasurer Richard Cordray, who will talk about the Ohio GrowNOW program. GrowNOW provides low-interest business loans.

The luncheon will be at noon at the Hampton Inn on Boardman-Canfield Road. To register, call Amber Wallace at (330) 533-3341.

‘Understanding Work’ at YSU’s Kilcawley

YOUNGSTOWN — Two international scholars will speak on “Understanding Work: Two Perspectives on Worker Lives” at Youngstown State University.

The event that is open to the public will be at 7:30 p.m. Tuesday in the Gallery at Kilcawley Center. A workshop for teachers will be at 4 p.m. Tuesday at McKay Auditorium at the education school.

The speakers are Alessandro Portelli, professor of literature at University of Rome, and Tim Strangleman, professor of sociology at University of Kent in England.

NATION

Civil charges stand against 5 in Delphi fraud

DETROIT — A federal judge in Detroit has refused to dismiss civil charges against five people accused of financial fraud at the auto parts maker Delphi Corp. Federal judge Avern Cohn said in a 49-page ruling this week that a trial can go forward.

The Securities and Exchange Commission had filed a lawsuit in 2006 against the Troy-based company and many senior employees, accusing them of illegal schemes that covered up the company’s true financial condition.

The defendants include Paul Free, who was principal accountant at Delphi until April 2002. Delphi’s former chief executive, J.T. Battenberg, has agreed to have a mediator try to broker a settlement with the government.

Oil falls below $78 a barrel

NEW YORK — The stunning collapse in oil markets accelerated Friday, sending a barrel of crude plunging below $78 as investors grow more pessimistic about resolving a mushrooming global economic crisis.

Oil hasn’t been this cheap in 13 months — a rare silver lining for consumers amid a rapidly imploding financial landscape.

From Vindicator staff/wire reports