BUSINESS DIGEST || Shale forum set

Shale forum set

BROOKFIELD

A forum on Ohio shale development designed to bring community and business leaders together to discuss the oil-and-gas industry will take place May 31 in Brookfield.

“Oil and gas shale exploration and development will play a major role in our community,” said state Rep. Sean O’Brien, D-65th. “Economically and environmentally, we only have one chance to do this right; we must make informed decisions to reap the benefits and minimize the risks. This forum focuses on preparing our leaders for these challenges.”

The event is invitation- only and will be from noon to 4:30 p.m. at Yankee Lake, 1800 state Route 7 NE in Brookfield. The Youngstown/Warren Regional Chamber is one of the event’s sponsors.

US factory growth sends stocks higher

WASHINGTON

U.S. manufacturing grew last month at the fastest pace in 10 months, suggesting that the economy is healthier than recent data had indicated.

New orders, production and a measure of hiring all rose. The April survey from the Institute for Supply Management was a hopeful sign ahead of Friday’s monthly jobs report and helped the Dow Jones industrial average end the day at its highest level in more than four years.

The trade group of purchasing managers said Tuesday that its index of manufacturing activity reached 54.8 in April, the highest level since June. Readings above 50 indicate expansion.

The sharp increase surprised analysts, who had predicted a decline after several regional reports showed manufacturing growth weakened last month. The gain led investors to shift money out of bonds and into stocks. The Dow Jones industrial added 66 points to 13,279, its best close since Dec. 28, 2007. Broader indexes also surged.

UK panel: Murdoch unfit to run company

LONDON

A committee of British lawmakers called Rupert Murdoch unfit to run his global media empire — a finding that reflects just how deeply the phone-hacking scandal born of his defunct News of the World has shaken the relationship between the press and politics.

The divisive ruling Tuesday against Murdoch, his son James and three of their executives also exposed the waning influence of the media tycoon and could jeopardize his control of a major broadcaster.

Parliament’s Culture, Media and Sport committee — a panel that scrutinizes the standards of Britain’s press and sports authorities — began an inquiry amid disclosures about widespread tabloid hacking of voice mail, concerns over bribes paid to police for scoops, and politicians who may have overstepped the bounds by cozying up to key players in the Murdoch empire.

The committee’s scathing words on the Murdochs could affect their controlling stake in British Sky Broadcasting.

Vindicator staff/wire reports