BUSINESS DIGEST || Time Warner hack

Time Warner hack

NEW YORK

Time Warner Cable says the email addresses and passwords of about 320,000 of its customers nationwide may have been stolen by hackers.

Time Warner Cable Inc. says it was told by the FBI about the possible compromise and has yet to determine how the information was stolen. But the company says there’s no evidence of a breach of the Time Warner Cable systems that operate customer email accounts.

The New York-based company says it’s likely that the emails and passwords were previously stolen either through malware downloaded during phishing attacks, or indirectly through data breaches of other companies that stored Time Warner Cable customer information.

The New York company is contacting customers who may be affected and asking them to change their email passwords as a precaution. It emphasizes that the account information potentially stolen represents less than 2 percent of the total number of customer email accounts it manages.

US applications for jobless aid decline

WASHINGTON

Fewer people sought U.S. unemployment benefits last week, suggesting that the job market remains insulated from the turmoil abroad in Europe and China.

The Labor Department says applications for jobless aid fell 10,000 to a seasonally adjusted 277,000. The less-volatile 4-week average slipped 1,250 to 275,750.

Jobless claims at those levels point to a robust environment for hiring. Weekly figures below 300,000 – a level not seen in the past 10 months – tend to correspond with strong monthly job gains.

Applications for benefits are a proxy for layoffs, so the consistent lows for claims suggest that employers are holding onto staff and possibly looking to expand.

The report indicates that job growth should be healthy in the December jobs report being released by the government today.

Average US rate on 30-year mortgage slips to 3.97 percent

WASHINGTON

Average long-term U.S. mortgage rates were mixed this week, with the key 30-year rate slipping back under the 4 percent mark.

Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.97 percent from 4.01 percent a week earlier. That rate has risen from its 3.73 percent average a year ago. Still, borrowing costs are well below the historic average of 6 percent for a 30-year loan.

The average rate on 15-year fixed-rate mortgages this week rose to 3.26 percent from 3.24 percent.

Rates rose slightly in the final week of 2015 in the wake of the Federal Reserve’s decision in December to raise a key short-term interest rate.

The Fed’s move isn’t likely to drive a jump in the rates that people pay for mortgages anytime soon. The Fed’s funds rate – the rate that banks charge each other on overnight loans – has limited influence on home borrowing rates.

Wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .128.27-0.34

Aqua America, .71 29.06-0.62

Avalon Holdings,1.79-0.06

Cortland Bancorp, .2415.70-0.05Farmers Nat., .128.690.03

First Energy, 1.44 31.00-0.85

Fifth/Third, .5218.71-0.61

FirstMerit Corp., .6817.59-0.50

First Niles Financial, .209.000.00

FNB Corp., .4812.54-0.35

General Motors, 1.4429.99-1.28

General Electric, .9228.97-1.28

Huntington Bank, .28 10.23-0.32

iHeartMedia Inc.,1.01-0.08

JP Morgan Chase, 1.7660.27-2.54Key Corp, .3012.18-0.44LaFarge, .3417.570.00

Macy’s, 1.44 36.890.74

Parker Hannifin, 2.52 92.21-1.59

PNC, 2.0489.28-2.32

Simon Prop. Grp., 6.40191.56-4.13

Stoneridge 12.12-0.40

Talmer Bank, .04 17.42-0.33

United Comm. Fin., .10 5.66-0.06

Selected prices from Thursday’s 4 p.m. close.