Business digest

NATION

Delphi’s bankruptcy auction postponed

NEW YORK — A bankruptcy judge has postponed Delphi’s bankruptcy auction until Tuesday.

U.S. Judge Robert Drain approved the auction’s delay after a chambers conference Thursday that was attended by Delphi Corp., its creditors committee, General Motors Co. and the U.S. government. The auction had been scheduled to take place Friday.

Some of Troy, Mich.-based Delphi’s lenders have said that they plan to submit a credit bid for the company, which would involve their forgiving Delphi debt.

REGION

Southington man gets free ring because of rain

NILES — Robert Wingfield of Southington was one among the people who received free engagement rings because it rained July 11.

Wingfield bought the ring from Alvin’s Jewelers, which has a store in Eastwood Mall. The jeweler has a promotion that provides full refunds for engagement rings if it rains more than 0.75 inch on the customer’s wedding day. Rainfall on July 11 measured 0.81 inch at Cleveland Hopkins International Airport.

First Niles Financial reports $259,000 loss

NILES — First Niles Financial lost $259,000 in the second quarter, compared with earnings of $179,000 in the same quarter last year. The company said the decrease in earnings came from a write-down of a $1.5 million loan and a special assessment levied by the Federal Deposit Insurance Corp. First Niles is the holding company for Home Federal Savings and Loan Association of Niles.

From Vindicator staff and wire reports