BUSINESS DIGEST ||

Marathon sponsor

CANFIELD

Braking Point Recovery Center, owned by Ryan Sheridan and located in Austintown, has formally signed on to co-sponsor the Youngstown Marathon, which is set for June 4. Braking Point Recovery Center joins Chemical Bank as the Youngstown Marathon’s second presenting sponsor.

PNC redemption

PITTSBURGH

The PNC Financial Services Group Inc. announced the redemption on Jan. 17 of all of the outstanding senior notes due Jan. 27 issued by PNC Bank, National Association in the amount of $1 billion. The securities have a distribution rate of 1.125 percent and an original scheduled maturity date of Jan. 27. The redemption price will be equal to $1,000 per $1,000 in principal amount, plus any accrued and unpaid distributions to the redemption date of Jan. 17.

PNC dividend

PITTSBURGH

The board of directors of The PNC Financial Services Group Inc. declared a quarterly cash dividend on the common stock of 55 cents per share. The dividend, with a payment date of Feb. 5, will be payable the next business day to shareholders of record at the close of business Jan. 17.

Sears to sell Craftsman tool brand to Stanley

NEW YORK

After controlling the Craftsman name for 90 years, troubled department store operator Sears said it will sell the famous tool brand to Stanley Black & Decker Inc.

Stanley, which makes and sells tools under the DeWalt and Black & Decker names, wants to grow the Craftsman brand by selling its products in more stores outside of Sears. Today, only 10 percent of Craftsman products are sold in other stores. Sears said it will continue to sell Craftsman, including at its Kmart and Sears Hometown stores.

Weekly applications for US jobless aid drop to 235,000

WASHINGTON

The number of Americans seeking unemployment benefits dropped significantly last week, a sign of a robust job market.

Weekly requests for jobless aid fell 28,000 to a seasonally adjusted 235,000, the Labor Department said Thursday. That is barely above the 233,000 jobless claims achieved in late November, the lowest weekly total since 1973. The less volatile four-week moving average for claims fell 5,750 to 256,750.

Small-business hiring slows further in December

Small companies further scaled back their hiring last month, ending 2016 with a gain of just 18,000 jobs, according to ADP. The payroll provider’s small-business customers were cautious both before and after the presidential election, averaging nearly 31,000 new jobs a month from September through December. That was down from an average of nearly 79,000 from January through August.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .1230.610.35

Aqua America, .71 30.41-0.08

Avalon Holdings,2.75-0.06

Chemical Bank, .2723.34-0.36Community Health Sys. 6.27 0.04

Cortland Bancorp, .2817.900.40

Farmers Nat., .1614.12-0.68

First Energy, 1.44 30.84-0.13

Fifth/Third, .5226.64-0.78

FirstMerit Corp.,21.610.37

First Niles Financial, .1210.950.00

FNB Corp., .4815.99-0.23

General Motors, 1.5236.39-0.70

General Electric, .9231.53-0.18

Huntington Bank, .28 13.26-0.22

iHeartMedia Inc.,1.150.00

JP Morgan Chase, 1.9286.11-0.80

Key Corp, .3418.27-0.24

LaFarge, .34-0.00

Macy’s, 1.51 30.86-4.98

Parker Hannifin, 2.52 141.38-1.26

PNC, 2.20117.41-1.56

Simon Prop. Grp., 6.60184.460.38

Stoneridge 17.78-0.24

United Comm. Fin., .12 8.85-0.27

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