Tressel to join board of Regional Chamber

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Tressel

Tressel to join board of Regional Chamber

YOUNGSTOWN

Youngstown State University President Jim Tressel will take a seat on the Youngstown/Warren Regional Chamber board of directors effective Oct. 1, Peter J. Asimakopoulos, board chairman, said Thursday.

The board voted to approve Tressel as a new member earlier this summer. Tressel officially took over the post of YSU president July 1 and was installed Aug. 18.

“He will be a vital cog in the chamber’s work of developing a better educated and trained workforce for our growing economy,” said Asimakopoulos, who is executive vice president of Small Business Banking and Youngstown Market president, First National Bank.

Obama touts revised growth numbers

WASHINGTON

New evidence of economic growth is heartening and underscores that companies are investing and consumers are spending, President Barack Obama said Thursday.

Obama said he still wanted to push Congress to take more action to move the economy along.

The government said Thursday the U.S. economy grew at an annual rate of 4.2 percent in the April-June quarter. The figures represented a reversal from the first quarter of the year when the economy shrank at a 2.1 percent annual rate. The growth figure represented an upward revision from earlier estimates.

JPMorgan investigates possible cyberattack

NEW YORK

JPMorgan Chase, the nation’s biggest bank by assets, is working with law-enforcement officials to investigate a possible cyberattack, said a person familiar with the situation who spoke on condition of anonymity, though the bank isn’t seeing any unusual fraud activity at the time.

Jamie Dimon, the bank’s CEO, said in this year’s annual report to shareholders that despite spending millions on cybersecurity, JPMorgan remained worried about the threat of attacks. By the end of this year, the bank estimates that it will be spending about $250 million annually on cybersecurity and employing 1,000 people in the area.

The FBI said in a statement Wednesday that it was working with the Secret Service to determine the scope of recent cyberattacks against “several American financial institutions.”

Major U.S. banks said that they had been unaffected by the attacks.

Vindicator staff/wire reports