Donation to YBI

Donation to YBI

YOUNGSTOWN

The Home Savings Charitable Foundation will make a $10,000 donation to the Youngstown Business Incubator today.

The funds will go toward the support of local development of technology businesses as well as to assist the YBI in becoming financially self-sufficient.

The check presentation will take place at 3 p.m. at the incubator, 241 W. Federal St.

Bank adds ATMs

CORTLAND

Welch ATM and Cortland Banks announced Wednesday that Cortland Banks’ branded ATMs now are available in select Rite Aid pharmacies in Northeast Ohio.

In addition to custom branding, Welch ATM is providing new, fully compliant ATMs that customers may use surcharge-free.

Welch is a privately held company with more than 22,000 ATMs under management nationwide.

Seeking protection for Ohio workers

WASHINGTON

U.S. Sen. Sherrod Brown of Cleveland, D-Ohio, urged the Obama administration to protect Ohio workers and businesses from unfairly subsidized and dumped Chinese tire products, according to a press release issued by the senator’s office.

Brown’s call followed an announcement by the United Steelworkers that it has filed a petition asking that anti-dumping duties and countervailing duties be levied against passenger- vehicle and light-truck tires from China.

Survey: Firms added 179K jobs in May

WASHINGTON

U.S. businesses pulled back on hiring in May, adding the fewest jobs in four months, a private survey showed.

Payroll processer ADP said Wednesday that private employers added 179,000 jobs last month, down from 215,000 in the previous month. April’s figure was revised slightly lower. Still, the gain in May was in line with the ADP’s average monthly hiring figures for the past 12 months.

Economists forecast that the government’s figures will show that employers added 220,000 jobs in May, according to a survey by FactSet.

Trade deficit hit 2-year high in April

WASHINGTON

The U.S. trade deficit jumped to a two-year high in April, as exports declined and imports surged to a record high.

The deficit rose to $47.2 billion in April, up 6.9 percent from an upwardly revised March deficit of $44.2 billion, the Commerce Department said Wednesday.

Exports dropped for the fourth month out of the past five, falling 0.2 percent to $195.4 billion. Meanwhile, imports climbed 1.2 percent to an all-time high of $240.6 billion, reflecting record shipment levels of foreign-made cars, food, computers and other goods.

A wider trade deficit can act as a drag on growth because it means U.S. companies are earning less from their overseas markets. But it also could indicate rising U.S. demand as the country shakes off the effects of a harsh winter.

Vindicator staff/wire reports