Ryan speaks out on health-insurance case

March 5, 2015 at 12:00a.m.

YOUNGSTOWN

The U.S. Supreme Court heard oral arguments in the King vs. Burwell case Wednesday. Conservative activists argue that the Affordable Care Act makes subsidies available only in health insurance marketplaces established by states. The federal government fully or partially operates 37 states’ marketplaces.

“This Supreme Court case is just another partisan attempt to tear down a law that is helping millions in Ohio and across the United States,” U.S. Rep. Tim Ryan of Howland, D-13th, said in a statement. “If the right-winged plaintiffs win this case, we would see 8.2 million new uninsured Americans and a tax increase of $28.8 billion in 2016 and $340 billion over the next 10 years.”

IBM expands by buying AlchemyAPI

DENVER

IBM announced the purchase of AlchemyAPI, a small Denver startup, on Wednesday as part of its effort to expand its Watson cognitive computing system.

AlchemyAPI, founded in 2005, works in a field known as deep learning that uses technology to help businesses comb through enormous amounts of data and turn it into useful information. It works with 40,000 software developers around the world to analyze information from websites, blogs, emails and other documents in eight languages.

Despite the size difference, the two companies share a passion for making sense of data, founder and CEO Elliot Turner said. The terms of the deal weren’t released.

Bristol-Myers drug OK’d for lung cancer

WASHINGTON

The Food and Drug Administration on Wednesday expanded approval of an innovative Bristol-Myers Squibb drug to treat the most-common form of lung cancer.

Regulators cleared Opdivo for patients with advanced squamous nonsmall cell lung cancer, which accounts for seven out of eight lung cancer patients. Lung cancer is the leading cause of cancer death in the U.S., responsible for more than 159,260 deaths last year.

The drug is part of an innovative new class of medicines, mostly still experimental, called immuno-oncology drugs.

Toyota promotes its US executives

DETROIT

Toyota has announced sweeping management changes that consolidate power with North American CEO Jim Lentz and promote some U.S. executives to senior posts in Japan.

Lentz, who previously led sales and marketing, will head Toyota’s North American manufacturing operations when the changes take place April 1. North American engineering and research operations also will report to him.

Toyota also promoted North American communications chief Julie Hamp to chief communications officer for the entire company. She’s Toyota’s first female managing officer. It named Chris Reynolds a managing officer and chief legal officer for the whole company. He’s the first African-American to hold the positions.

Vindicator staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .61, 26.29-0.16

Avalon Holdings,3.100

Clear Channel, .46 18.67-0.13

Cortland Bancorp, 15.460

Farmers Nat., .127.990

First Energy, 1.44, 34.32-0.04

Fifth/Third, .5219.27-0.23

FirstMerit Corp., .64,18.430.02

First Niles Financial, .32,9.150

FNB Corp., .48,12.77-0.07

General Motors, 1.2037.56-0.25

General Electric, .88,25.65-0.21

Huntington Bank, .20, 10.82-0.1

JP Morgan Chase, 1.60,62.110.13

Key Corp, .26,13.90-0.1

LaFarge, 17.76-0.14

Macy’s, 1.25, 62.85-0.62

Parker Hannifin, 1.92, 121.45-1.92

PNC, 1.92,92.06-0.27

RTI Intl. Metals,27.67-0.34

Simon Prop. Grp.,5.20,187.71-1.9

Stoneridge 11.34-0.02

Talmer Bank, 14.10-0.04

United Comm. Fin., .04 5.250.03

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