BUSINESS DIGEST || Supplying ethane

Supplying ethane

CHARLESTON, W.Va.

Denver-based Antero resources announced Thursday that it will anchor the supply of ethane to the proposed Ascent petrochemical complex in Wood County, W.Va.

According to an Antero statement, the company plans to provide 30,000 barrels of ethane a day to Ascent, which represents almost half of the volume required to operate the proposed cracker plant in Parkersburg, W.Va.

Ascent, the Appalachian Shale Cracker Enterprise, is still considering the feasibility of the project.

Toyota recalling 119,000 Avalons

TORRANCE, Calif.

Toyota is recalling 119,000 Avalon sedans from the 2003 and 2004 model years because their air bags could deploy inadvertently.

The company says circuits within the air-bag control module can be damaged if they’re exposed to interference from other electrical components in the car.

The defect also can cause the seat-belt pretensioners to tighten without warning. Toyota says it knows of one minor injury related to the defect, but no accidents.

PG&E: Charges likely in gas blast

SAN FRANCISCO

Pacific Gas & Electric Co. said Thursday the company likely will face federal criminal charges for its role in a fatal gas-pipeline explosion in the San Francisco Bay Area.

A disclosure document filed with the Securities and Exchange Commission by PG&E Corp. and its subsidiary said the company expects the federal government to bring criminal charges against the utility in connection with the Sept. 9, 2010, explosion of its transmission pipeline in San Bruno.

Mars Inc. has grand opening for new chocolate plant

TOPEKA, Kan.

Americans aren’t losing their taste for chocolate. Need proof? Look to Kansas, where candy giant Mars Inc. is operating its first new plant in 35 years to churn out millions of sweets every day.

Company officials had a grand opening Thursday for the sprawling, $270 million chocolate plant — which they say exists mostly to meet U.S. demand for its M&M’s and Snickers-brand candy.

The plant, built south of Topeka, will be able to produce 14 million bite-sized Snickers each day, as well as 39 million M&M’s, enough to fill 1.5 million fun-sized packs. The company expects the plant to be filling orders for another 50 years.

Applications for jobless aid dip to 4-month low

WASHINGTON

The number of people seeking U.S. unemployment benefits fell 10,000 last week to a seasonally adjusted 311,000, the lowest since late November and a hopeful sign hiring could pick up.

The four-week average of applications, a less volatile measure, fell 9,500 to 317,750, the Labor Department said Thursday. That is the fourth-straight drop and the lowest level in six months.

Vindicator staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .61, 24.62 —.05

Avalon Holdings,5.16.01

Clear Channel, .61 22.98 .57

Cortland Bancorp, 10.51.00

Farmers Nat., .127.49 —.02

First Energy, 2.20, 33.45.29

FirstMerit Corp., .64,20.35 —.51

First Niles Financial, .32,7.05.05

FNB Corp., .48,13.09—.12

General Motors,34.49.27

General Electric, .76,25.77.15

Huntington Bank, .20, 9.71—.18

JP Morgan Chase, 1.52,59.99.09

Key Corp, .22,13.99—.23

LaFarge, 19.21 .07

Macy’s, 1.00, 58.44.35

Parker Hannifin, 1.80, 118.02—.71

PNC, 1.76,85.18—.15

RTI Intl. Metals,26.40—.49

Simon Prop. Grp.,4.60,161.241.73

Stoneridge 11.01 —.31

Talmer Bank, 13.98.14

United Community Fin. 3.91.02

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