Amazon to build another warehouse outside Cleveland

September 29, 2017 at 12:00a.m.

EUCLID

Amazon plans to build a second large warehouse on the site of a closed shopping mall outside of Cleveland.

The Plain Dealer reports the Seattle-based company will raze Euclid Square Mall in Euclid to build a 650,000-square-foot warehouse that will employ 1,000 people.

The deal comes a month after Amazon finalized a deal to build an 855,000-square-foot “fulfillment center” on a former mall site in North Randall that is supposed to create 2,000 full-time jobs.

An Amazon spokeswoman said the Euclid warehouse will be completed sometime in 2019.

Demolition of the Euclid mall is expected to begin later this year.

Long-term mortgage rates unchanged

WASHINGTON

Long-term mortgage rates were unchanged this week: The 30-year fixed-rate mortgage remained at 3.83 percent; the 15-year home loan, popular among homeowners who refinance their mortgages, stayed at 3.13 percent, mortgage buyer Freddie Mac said Thursday.

Rates on long-term home loans typically track the yield on 10-year Treasury notes, which barely budged this week.

Two weeks ago, the 30-year mortgage hit a low for the year before bouncing back up last week. So far this year, the 30-year rate is running above last year’s average of 3.65 percent.

Prosecutors carry out arrest, searches in Audi probe

FRANKFURT,

Germany

German prosecutors said they have conducted further searches at two locations and had one person taken into custody in connection with their investigation into alleged manipulation of diesel emissions in Audi cars sold in the United States.

Prosecutors in Munich who are conducting the investigation confirmed Thursday that the searches and arrest were carried out Wednesday.

In March, prosecutors said they were investigating possible fraud and illegal advertising relating to the sale of 80,000 vehicles with 3.0 liter diesel engines. The cars were equipped with software that turned emissions controls on when the vehicles were being tested in labs and off during every-day driving.

Ikea to buy services site TaskRabbit

NEW YORK

Ikea is making moves so you don’t have to assemble a sofa or bookcase yourself.

The furniture seller said Thursday that it is buying online on-demand services platform TaskRabbit, which lets users hire people to help them move, clean up the house or assemble furniture. Much of Ikea’s furniture requires customers to screw together table legs, bed frames and dining-room chairs.

Ikea said it tested TaskRabbit in its stores in London last year and plans to roll out the service in U.S. stores and more U.K. locations. More countries may be added later. Before the TaskRabbit deal, certain Ikea stores already provided some independent workers to assemble goods.

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .1246.040.97

Aqua America, .71 33.25 0.06

Avalon Holdings,1.950.01

Chemical Bank, .2751.890.16Community Health Sys.7.540.06

Cortland Bancorp, .2818.000.00

Farmers Nat., .1615.20 -0.40

First Energy, 1.44 30.070.01

Fifth/Third, .5227.590.07

FirstMerit Corp.,— —

First Niles Financial, .1211.000.50

FNB Corp., .4813.940.04

General Motors, 1.5240.57-0.01

General Electric, .9224.23-0.14

Huntington Bank, .28 13.870.12

iHeartMedia Inc.,1.31 -0.10

JP Morgan Chase, 1.9295.360.18

Key Corp, .3418.66-0.01

LaFarge, .34— —

Macy’s, 1.51 22.02-0.12

Parker Hannifin, 2.52 175.800.28

PNC, 2.20134.490.17

Simon Prop. Grp., 6.60161.581.47

Stoneridge 19.57 0.02

United Comm. Fin., .12 9.75-0.05

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