Business Digest

GM plans to invest $890M in five plants

defiance

General Motors will invest $115 million at its Defiance Powertrain facility as part of an $890 million investment in five North American plants to produce new fuel-efficient small-block truck and car engines, the company announced Tuesday.

The investment will save up to 189 jobs at the Defiance plant and create or retain more than 1,600 jobs at factories in Tonawanda N.Y.; St. Catherine’s, Ontario; Bay City, Mich.; and Bedford, Ind., the company said. The investment will go toward upgrading the facilities and adding new assembly- production and engine- casting equipment, GM said.

Electric utility increases dividend

columbus

American Electric Power Company Inc. is increasing its quarterly dividend to shareholders for the first time in more than two years, the company said Tuesday. AEP declared a regular quarterly cash dividend of 42 cents a share on the company’s common stock, a 2 percent increase from the previous 41 cents a share. The dividend will be payable June 10.

Confidence is best since ’08 meltdown

NEW YORK

The best consumer-confidence reading since September 2008’s financial meltdown and bullish earnings reports this week from companies ranging from Whirlpool to UPS show increasing demand and a rebound gathering steam. Americans are even feeling a bit better about the job market.

The biggest remaining worry? Housing. That market has shown signs of strengthening this spring because of government subsidies but remains on fragile ground and could actually start to weaken once the rebates expire.

Vindicator staff/wire reports