Chamber attends meeting in Canada

August 19, 2015 at 12:00a.m.

YOUNGSTOWN

The Youngstown/Warren Regional Chamber pursued several economic-develop-ment leads during a recent invitation-only, site consultant forum in Montreal, Canada, as part of the international Association of Chamber of Commerce Executives annual convention.

Sarah Boyarko, the chamber’s vice president of economic development, scheduled separate meetings with Canadian site consultant CBRE Group Inc., a real-estate services firm. She discussed the potential for joint ventures with Mahoning Valley companies, expansion opportunities and the possibility of exporting local products into Canadian markets.

Boyarko also met with three firms considering investing in the Valley. The firms are in the customer-service, industrial manufacturing and industrial-service sectors.

Boyarko networked with 10 site consultants, including Site Selection Group, Jones Lang LaSalle, Newmark Grubb Knight Frank and Cushman & Wakefield.

Housing market

WASHINGTON

U.S. homebuilders grew slightly more optimistic about the housing market in August, putting their confidence at levels last seen a decade ago during the debt-fueled housing boom.

The National Association of Home Builders/Wells Fargo builder sentiment index released Monday rose this month to 61, the highest level since November 2005. The reading was 60 in June and July. Any reading above 50 indicates more builders view sales conditions as good, rather than poor.

Builders’ view of sales conditions and buyer traffic improved in August, while sales prospects over the next six months were stable.

Wal-Mart cuts earning outlook

NEW YORK

Wal-Mart cut its annual earnings outlook Tuesday because its profits are being squeezed by pay raises for workers and efforts to make its stores cleaner and friendlier and speed up service. It also reported a 15.1 percent drop in second-quarter profit.

The retailer did post its fourth-straight quarter of increases for an important sales measure, and its third-straight increase in customer counts for its U.S. Wal-Mart stores.

The company earned $3.48 billion, or $1.08 per share, in the quarter that ended July 31. That compares with $4.09 billion, or $1.26 per share, a year ago.

Ford recalling 26,000 trucks

DEARBORN, Mich.

Ford is recalling just over 26,000 trucks in the U.S. and Canada because some front seat belts may not be anchored in the right position.

The recall covers F-650 and F-750 trucks from the 2011, 2013 and 2015 model years that were built in Mexico from Feb. 14, 2011, through April 28, 2015.

Ford says the front passenger and center seat belts may not be anchored in the correct spot relative to the seat. The problem could increase the risk of injury in a crash.

The company says it knows of no crashes or injuries from the problem. Ford says engineers are developing repair procedures.

From staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .129.26-0.17

Aqua America, .71 26.830.21

Avalon Holdings,2.370.04

Cortland Bancorp, 14.200

Farmers Nat., .128.130.04

First Energy, 1.44 34.65-0.22

Fifth/Third, .5221.180.05

FirstMerit Corp., .6418.810.13

First Niles Financial, .328.500

FNB Corp., .4813.360.03

General Motors, 1.4431.660.05

General Electric, .9226.05-0.16

Huntington Bank, .24 11.850.05

iHeartMedia Inc., .46 5.20-0.79

JP Morgan Chase, 1.7668.220.14

Key Corp, .3014.820.06

LaFarge, 15.59-0.06

Macy’s, 1.44 62.76-0.19

Parker Hannifin, 2.52 112.710.1

PNC, 2.0498.980.93

Simon Prop. Grp., 6.20194.901.36

Stoneridge 12.44-0.04

Talmer Bank 16.22-0.01

United Comm. Fin., .10 4.99-0.08

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