Startup seminar

Startup seminar

YOUNGSTOWN

The Better Business Bureau and the Youngstown Business Incubator are joining together for a seminar that will match established local businesses with startups.

The session, from 7 to 8 a.m. Tuesday at the YBI, 241 W. Federal St., will allow startup businesses to seek advice from their established counterparts.

The Youngstown Better Business Bureau will assist the startups to determine if there is a definable market for their product or service.

Bank of America considers job cuts

NEW YORK

Bank of America is considering cutting at least 10 percent of its work force as part of a massive restructuring, according to published reports.

The Wall Street Journal said that officials at the Charlotte, N.C., bank have discussed cutting 40,000 employees, or 14 percent of its 288,000 total staff. Bloomberg put the job cuts at about 10 percent. They each cited people that were not identified by name.

A spokesman for Bank of America wasn’t immediately available to comment before business hours Friday.

Bank of America Corp. already has cut at least 6,000 jobs this year as part of its reorganization under CEO Brian Moynihan, who has been in the top spot since last year. Moynihan earlier this week unveiled a shake-up in the bank’s management ranks, announcing that two key officers will leave and the promotion of two others to share the chief operating officer role.

McDonald’s shares fall more than 4%

NEW YORK

Shares of McDonald’s Corp. fell more than 4 percent Friday after the fast-food giant reported a slowdown in some overseas markets and missed analysts’ expectations on a key revenue measure.

The company said revenue at stores open at least 13 months declined 0.3 percent in August in the region of Asia/Pacific, the Middle East and Africa. That marked the first monthly decline in that area since November 2009. The company didn’t give many specifics on how individual countries fared but said a slowdown in Japan offset strength in China and Australia.

Oil down on debt concerns

NEW YORK

Oil and gasoline futures tumbled Friday on growing concerns about Europe’s economy. If the slide continues, it could pull down the average gasoline pump price from a record high for this time of year.

Benchmark crude fell $1.81, or 2 percent, to finish at $87.24 per barrel in New York. Brent crude lost $1.78 to end at $112.77 per barrel in London.

Prices dropped after the European Central Bank said a top official was leaving unexpectedly. Juergen Stark, the bank’s top economist, resigned for personal reasons, but analysts took his departure as a sign of deepening divisions over how to solve Europe’s debt crisis.

Europe is a major consumer of diesel fuel, and its economic woes have sent tremors through world markets.

From staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .62, 21.12 —.72

Avalon Holdings,2.63—.05

Clear Channel, .63 53.36 —1.63

Cortland Bancorp, 7.20.00

Farmers Nat., .12, 4.20 .00

First Energy, 2.20, 42.71—1.26

FirstMerit Corp., .64,11.33 —.41

First Niles Financial, .32,7.35.00

First Place Fin., .80.00

FNB Corp., .48,8.30—.29

General Motors,21.76—.72

General Electric, .60,15.09—.50

Motors Liquidation, .0422 .00

Huntington Bank, .04, 4.60—.21

JP Morgan Chase, 1.00,32.08—1.43

Key Corp, .12,6.12—.30

LaFarge, 8.65 —.62

Macy’s, .40, 25.17—.62

Parker Hannifin, 1.48, 66.38—3.31

PNC, 1.40,46.38—1.42

RTI Intl. Metals,22.76—.95

Simon Prop. Grp.,3.20,115.84—2.87

Stoneridge 6.37 —.49

United Community Fin. 1.1355 +.05

Selected prices at 4 p.m. Friday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.