Valley car sales

Valley car sales

YOUNGSTOWN

Mahoning Valley car dealers sold 5,604 new and used vehicles in February, only four cars less than the same time last year, according to data released today by the Automobile Dealers Association of Eastern Ohio.

The Chevrolet Cruze and Equinox were the two top-selling models, followed by the GMC Terrain. The best-selling used models were the Chevrolet Impala, Ford F-150 and Chevrolet Malibu.

February’s best-performing dealers were Greenwood Chevrolet, Stadium GM Superstore and Taylor Kia.

Agreement reached

COLUMBUS

Investment manager Federated Investors Inc. and Huntington National Bank subsidiary Huntington Asset Advisors Inc. reached an agreement that will, in part, reorganize $421 million in fixed-income assets into five Federated mutual funds.

Huntington expects the reorganization to be completed in the second quarter. Closing of the transactions is subject to shareholder approval and other contingencies, the company said.

Grand-opening event

BOARDMAN

Anthony’s Italian Grille celebrates its grand opening today with food-and-drink specials and live entertainment at 1315 Boardman-Canfield Road.

Today and Monday, Anthony’s will have Irish food specials available, and drink specials will extend through the weekend and into Monday.

The vocal group The Classics performs from 8 p.m. to midnight today.

FDIC sues 16 banks that set key rate

WASHINGTON

The Federal Deposit Insurance Corp. has sued 16 big banks that set a key global interest rate, accusing them of fraud and conspiring to keep the rate low to enrich themselves.

The banks, which include Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. in the U.S., are among the world’s largest.

The FDIC says it is seeking to recover losses suffered from the rate manipulation by 10 U.S. banks that failed during the financial crisis and were taken over by the agency. The civil lawsuit was filed Friday in federal court in Manhattan.

The banks rigged the London interbank offered rate, or LIBOR, from August 2007 to at least mid-2011, the FDIC alleged. The LIBOR affects trillions of dollars in contracts around the world, including mortgages, bonds and consumer loans.

Quiznos files for Chap. 11 protection

DENVER

Denver-based Quiznos has filed for Chapter 11 bankruptcy protection to reduce its debt by more than $400 million after the chain lost ground to competitors.

The toasted sandwich company said Friday that it voluntarily filed to reorganize to implement a pre-packaged restructuring plan.

Quiznos says the move won’t affect its customers.

The company only owns and operates seven of the nearly 2,100 Quiznos restaurants. The rest are owned and operated by franchisees and aren’t part of the bankruptcy proceedings.

Vindicator staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .61, 25.37 .26

Avalon Holdings,5.75—.04

Clear Channel, .61 21.47 —.12

Cortland Bancorp, 10.55—.05

Farmers Nat., .127.45 —.04

First Energy, 2.20, 31.40—.02

FirstMerit Corp., .64,21.40 —.05

First Niles Financial, .32,7.00.00

FNB Corp., .48,12.82.14

General Motors,34.10.31

General Electric, .76,25.14—.20

Huntington Bank, .20, 9.58.02

JP Morgan Chase, 1.52,56.84—.58

Key Corp, .22,13.81.07

LaFarge, 18.20 —.37

Macy’s, 1.00, 58.57.36

Parker Hannifin, 1.80, 116.27—.54

PNC, 1.76,82.89.10

RTI Intl. Metals,26.78—.01

Simon Prop. Grp.,4.60,161.20—.54

Stoneridge 11.30 .14

Talmer Bank, .00.00

United Community Fin. 3.93.00

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