Chamber plans Italy trip
The Greater Akron Chamber announced it is hosting a trip to Tuscany and the Italian Riviera from Nov. 3-10. The visit will include stops in a Tuscan estate, a Tuscan winery, Florence, Uffizi Gallery, Siena, Monteriggioni, Lucca, Pisa, the Italian Riviera, Cinque Terre and Portofino. An informational meeting will be at 4:30 p.m. Monday at the Akron-Summit County Public Library, 60 S. High St. Call to RSVP to attend at 330-376-5550. More information on trip specifics is online at www.greaterakronchamber.org. Also, information is available by contacting Maria Edwards at the AAA Travel Agency at 330-762-0631 or at firstname.lastname@example.org.
Frontier sets new charges
Passengers flying Frontier Airlines will have to pay extra to place carry-on bags in the overhead bin or for advance seat assignments. The move comes as the Denver-based company tries to transform itself into a fee-dependent airline, similar to Spirit or Allegiant — the only other U.S. carriers to charge such fees. Frontier said in exchange for these new fees, it is lowering its base fare by an average of 12 percent. The new charges apply to tickets purchased on or after Monday. The fee for using the overhead bin ranges from $20 for frequent fliers who book online to $50 for those who fail to pay before getting to the gate. Most will pay $25 if they check-in online; $35 if they check-in at the airport. Personal items fitting under the seat remain free.
Seat assignments — even for the dreaded middle seat — cost an extra $3 for those who buy while booking online; $8 at check-in. If passengers don’t pay extra, Frontier will assign them whatever seats are leftover.
Toyota’s U.S. unit relocating
Toyota plans to consolidate U.S. sales, engineering and finance operations to suburban Dallas, sending 4,000 jobs from California, New York and Kentucky to a new North American headquarters. The shift to Plano, Texas, affects about 2,000 people at Toyota’s U.S. sales headquarters in Torrance, Calif., 1,000 employees from its Kentucky engineering and manufacturing unit, and some staff from its holding company in New York, the carmaker said. About 1,000 people from its finance company will also go to Texas by 2017, Toyota said. Headquarters construction is projected to be complete in late 2016 or early 2017.
Growth in GDP predicted
An Associated Press survey of 30 economists showed an expectation that growth and hiring will pick up in the second half of the year. The economy is expected to grow at an annual rate of 3.1 percent in gross domestic product from July through December, up from only 2.3 percent in the first half of the year. The unemployment rate will fall to 6.2 percent by the end of this year, they forecast. The rate is now 6.7 percent.
Dow rises 87 points
The Standard & Poor’s 500 index rose 6.03 points to close at 1,869.43 in Monday trading. The Dow Jones industrial average rose 87.28 points to 16,448.74 and the Nasdaq edged down 1.16 points to 4,074.40. The Nasdaq erased most of a 61-point loss.
Health-care stocks did well after drug giant Pfizer renewed its push to buy British drug company AstraZeneca for $100 billion. The deal would be the latest big merger in the drug industry in recent weeks, if it happens. AstraZeneca jumped $8.35, or 12 percent, to $77.01. Pfizer rose $1.29, or 4.2 percent, to $32.04.
Bond prices fell, pushing the yield of the 10-year U.S. Treasury note up to 2.70 percent from 2.66 percent Friday. Gold was little changed at $1,299 an ounce.
Penalty for steel company
The federal government announced that Republic Steel agreed to pay $2.4 million in a settlement and address alleged health and safety violations at three Ohio facilities and one in Blasdell, N.Y. A statement from the Occupational Safety and Health Administration said the company will address hazards, hire more safety and health staff and conduct internal inspections. The agency said it began conducting inspections last fall after an employee fell through a roof at the Lorain plant. It said the settlement addresses more than 100 violations, along with issues related to inspections after an arc flash incident at the Lorain plant and alleged fall hazards in Canton. The settlement also covers the Massillon plant. Canton-based Republic Steel didn’t immediately respond to a message.
Compiled from staff and wire reports.