Grant for training

Grant for training

BOARDMAN

Plumbers and Pipefitters Local 396, which has members in Mahoning, Trumbull and Columbiana counties, has won a competitive grant to receive federal money for specialized training related to employment in the shale industry.

The union had applied for a $65,000 federal grant.

An official announcement will be made at 9 a.m. Monday by U.S. Reps. Tim Ryan of Niles, D-17th, and Bill Johnson of Marietta, R-6th, at the union hall on Bev Road.

FTC, Facebook settlement finalized

NEW YORK

The federal government has finalized its settlement with Facebook to resolve charges that the social network exposed details about users’ lives without getting the required legal consent.

Facebook Inc. didn’t admit wrongdoing but agreed to submit to government audits of its privacy practices every other year for the next two decades. The company committed to getting explicit approval from users — a process known as “opting in” — before changing the types of content it makes public.

The settlement, announced in November, is similar to agreements the Federal Trade Commission reached separately with Google Inc. and Myspace.

The FTC approved the settlement Friday after a public comment period. It comes a day after the FTC fined Google $22.5 million to resolve allegations that Google didn’t comply with the earlier settlement.

New steps to stop food-stamp fraud

WASHINGTON

The Agriculture Department says it is going to impose tougher penalties on stores that violate food-stamp rules and give states new tools to root out applicants who are ineligible for the benefit program that now covers about 1 out of every 7 Americans.

The move to shore up integrity in the program comes as Congress struggles to pass a $100 billion-a-year bill that will fund food stamps and determine farm policy for the next five years. Some 80 percent of the money in the farm and nutrition bill goes to the food-stamp program.

Department Undersecretary Kevin Concannon stressed that the Supplemental Nutrition Assistance Program already has one of the best track records among federal programs in fighting violations, with a trafficking or abuse rate of only about 1 percent of total transactions.

J.C. Penney stock up despite new details

NEW YORK

J.C. Penney Co. CEO Ron Johnson hasn’t run out of magic yet, as far as Wall Street is concerned.

The former Apple executive’s soothing words drove the retailer’s stock higher even after the company off-ered up grisly details Friday of a terrible second quarter.

The midpriced department-store chain reported a bigger-than-expected loss and plummeting sales. Shoppers are still not buying into a bold new pricing strategy. Penney even withdrew its full-year profit guidance.

After the report, Moody’s Investors Services downgraded Penney’s rating deeper into junk-bond terrain.

Vindicator staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .66, 25.68 .13

Avalon Holdings,3.99.21

Clear Channel, .73 66.26 —.95

Cortland Bancorp, 10.20.00

Farmers Nat., .125.50 —.16

First Energy, 2.20, 45.85.05

FirstMerit Corp., .64,15.69 —.16

First Niles Financial, .32,7.37.00

First Place Fin., .74.04

FNB Corp., .48,10.97—.03

General Motors,20.54—.11

General Electric, .68,21.10.04

Motors Liquidation, .0422.00

Huntington Bank, .16, 6.4450.0450

JP Morgan Chase, 1.20,36.97.05

Key Corp, .20,8.34.01

LaFarge, 11.62 —.10

Macy’s, .80, 38.00—.12

Parker Hannifin, 1.64, 83.471.35

PNC, 1.60,60.73—.04

RTI Intl. Metals,24.41—.34

Simon Prop. Grp.,4.20,157.70.65

Stoneridge 6.17 .18

United Community Fin. 3.06.12

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.