Shale investment

Shale investment

COLUMBUS

Bricker & Eckler LLP reported more than $28 billion in investments in Ohio as a direct result of shale development in its “Shale Economic Development Overview-Spring 2015” report. This represents a 40 percent increase in the total investments since fall 2014.

Ribbon-cutting set

YOUNGSTOWN

The Youngstown/Warren Regional Chamber will host a ceremonial ribbon-cutting ceremony for the new location of Yellow Brick Place, 2959 Canfield Road, Suite 10, at 10 a.m. today. Yellow Brick Place is a cancer wellness center that provides support and education for cancer patients and those closest to them in the Mahoning Valley. It was founded in 2010 by Anna Aey and Donna Detwiler, two local cancer survivors.

Rig count increases

YOUNGSTOWN

The Ohio Department of Natural Resources reported the rig count increased last week to 29 rigs from 22 the week before. Further, ODNR issued eight horizontal- drilling permits last week, though none was in the Mahoning Valley. Of the 1,883 total permits issued, 1,463 of them are drilled with 854 producing, according to ODNR officials.

CHS revenues rise

YOUNGSTOWN

Community Health Systems Inc., the Tennessee-based parent company of the ValleyCare Health System of Ohio, posted first-quarter 2015 net operating revenues for the three months that ended March 31, totaling $4.9 billion, a 17.6 percent increase compared with $4.176 billion for the same period in 2014.

Income from continuing operations attributable to CHS common stockholders increased to $92 million, or $0.79 per share, for the three months ending March 31, compared with loss from continuing operations attributable to CHS common stockholders of $90 million, or $0.84 per share for the same period in 2014.

Adjusted earnings for the quarter was $715 million compared with $543 million for the same period in 2014, representing a 31.7 percent increase.

ADP: Hiring slows

WASHINGTON

U.S. companies hired in April at the slowest pace in nearly a year and a half, a private survey found, as the strong dollar dragged down overseas sales, and energy companies cut back on spending in the face of lower oil prices.

Payroll processor ADP said Wednesday that businesses added just 169,000 jobs in April, down from 175,000 in the previous month. That was the fewest since January 2014. March’s total was revised down from 189,000.

The weak showing could raise fears that the economy is slipping into a period of sluggish growth after expanding at a healthy pace for most of last year.

Staff/wire reports