Economy
U.S. manufacturing picks up in October, with production at its best since 2021 — but factory mood keeps darkening
U.S. manufacturing activity picked up in October, the Institute for Supply Management reported November 2, with its PMI rising to 55.5 and factory production at its highest since November 2021 — even as manufacturers' sentiment worsened for a third straight month and input prices stayed high.
Voters head to the polls in a sour economic mood, even as jobs and growth hold up
On the eve of the midterms, voters are sour on the economy: prices keep rising, and many blame tariffs and the Iran war for inflation — even as unemployment holds at 4.2%, growth runs at 3.4% and stocks have set record highs, Reuters reports.
Democratic midterm wins would shake up the tariff debate — but not roll back Trump's tariffs, Reuters reports
If Democrats win control of Congress on Tuesday, expect oversight hearings and symbolic tariff rollback votes next year — but not an end to President Donald Trump's tariffs, Reuters reported Sunday, November 1.
Wall Street closes October with its worst day since June as tech sell-off deepens
Wall Street tumbled Friday, October 30, with the S&P 500 down 1.8% and the Nasdaq down 2.9% — their worst day since June — as Intel plunged 28.6% and doubts about big tech's AI spending deepened.
Paychecks are growing, but buying power is shrinking: real wages fall 0.6%
Inflation-adjusted private-sector wages fell 0.6% in the 12 months through September, the Bureau of Labor Statistics reported October 30 — the second straight quarterly decline, as 3.1% wage growth trailed 3.7% consumer inflation.
Power bills and data centers take center stage in the midterms — and Ohio is among the hardest hit
U.S. household electricity prices have risen more than 10% since 2024, and Ohio's residential bills are up more than 20% in two years, according to EIA data cited by Reuters — with days to go before the November 3 midterms.
Flooded Ohio salt mine lays off 77 workers, raising winter road-salt worries
Morton Salt laid off 77 workers at its flooded Fairport Harbor mine after water poured into the mine beneath Lake Erie on October 22 — and northeast Ohio counties that depend on its road salt are now watching winter supplies.
Alphabet shares plunge a record 12.6% after earnings miss, reviving AI-spending doubts
Google parent Alphabet fell 12.6% on Thursday, its worst day in more than 20 years as a public company, after third-quarter results missed expectations and AI spending drove a $9.07 billion cash burn.
Binance hit by $6.3 billion breach in what could be the largest crypto heist ever
Binance said a security breach had an estimated $6.3 billion impact, with about $3 billion frozen so far; the company says it will cover all losses while withdrawals stay suspended during the investigation.
Trian-led group offers $1.4 billion to take Wendy's private
An investor group led by Nelson Peltz's Trian Fund Management has offered $7.35 a share in cash to take Dublin-based Wendy's private; the board is reviewing the non-binding proposal.
Scripps raises political ad outlook to $275M, completes 431 more job cuts
Cincinnati-based E.W. Scripps raised its full-year political ad forecast to about $275 million while completing 431 more job cuts, bringing its 2026 total to about 850 — nearly 20% of its workforce.
Farmers National posts $14.5 million third-quarter profit as Middlefield integration wraps
Canfield-based Farmers National Banc Corp. reported third-quarter net income of $14.5 million, or 25 cents per diluted share, with adjusted profit of $28 million excluding acquisition, conversion and securities-sale costs.
Cincinnati's Springdale Town Center sells for $7.05 million at 99% of asking price
Cooper Commercial Investment Group negotiated the sale of the 43,071-square-foot Springdale Town Center, a retail and medical center at 11530 Springfield Pike in Cincinnati, to a private New York buyer at a 7.27% capitalization rate.
Columbus-based Vertiv posts 61% sales jump in third quarter, raises full-year outlook
Vertiv reported third-quarter net sales of $4,313 million, up 61% from a year earlier, with diluted earnings per share up 91%, and raised its full-year 2026 guidance on surging data-center demand.
Ferring to buy Austin biotech Gameto in deal worth up to $1.38 billion
Swiss drugmaker Ferring Pharmaceuticals agreed October 27 to acquire Gameto, an Austin biotech whose Fertilo platform aims to shorten the hormone injections needed for IVF, in a deal worth up to $1.3825 billion including milestones.
Toledo Blade files state notice for December 31 closure, 116 layoffs
The Toledo Blade filed a state WARN notice October 23 outlining plans to cease publication December 31, 2026, and permanently lay off 116 employees unless a buyer is found.
Air opens Pittsburgh Strip District office in $450 million tech expansion
Air opened a 35,536-square-foot office in Pittsburgh's Strip District on Tuesday, the latest step in a previously announced 10-year, $450 million expansion in southwestern Pennsylvania.
Forgent picks downtown Columbus for 85-job corporate hub
Forgent Power Solutions will create 85 jobs and $12 million in new annual payroll at a 90,000-square-foot corporate office at 10 W. Nationwide Blvd. in downtown Columbus, under a 10-year lease.
EQT to buy Range Resources in deal creating America's largest natural gas producer
Canonsburg-based EQT will acquire Range Resources in an all-stock merger, creating a company with a pro forma enterprise value above $50 billion and more than 9 billion cubic feet equivalent of daily production.
Welltower raises 2026 guidance as senior housing growth offsets earnings miss
The Toledo-based senior housing REIT beat on normalized funds from operations but trailed on net income; shares slipped 1.29% in post-market trading.
Avtron to create 150 jobs in Cleveland area with expansion in Valley View and Seven Hills
The load-bank maker will retain 285 positions and add 12 product lines as demand for backup-power testing grows.
Valor Energy raises $5 million to fund planned Youngstown AI data center
The $5 million private placement would fund the $3.6 million acquisition of the Logan Avenue computing center and its conversion; closing is not yet assured.
Tesla's Austin Cybercabs gain a rear camera view and a quiet mode for F1 weekend
Riders in Austin can now pull up a live rear camera view mid-trip and darken the cabin screen with a new quiet mode, features spotted during the Formula 1 United States Grand Prix weekend.
Cleveland Clinic, Anthem still without a deal as 113,000 patients face out-of-network risk
If no contract is reached by December 31, the Clinic goes out of network for Anthem employer and Medicare Advantage plans on January 1, 2027.
Mahoning Valley jobless rates fall in September, state data show
Mahoning County fell to 4.7%, Trumbull to 4.8% and Columbiana to 3.7% in September, with Youngstown city down to 6.2% from 6.9%.
Strongsville voters to decide 1-mill fire levy for 12 more firefighter-paramedics
Issue 103 would raise about $2.3 million a year for fire and EMS as a fifth station prepares to open in April 2027.
Youngstown takes next step to revive 20 Federal Place with Appalachian grant help
The Board of Control accepted Opportunity Appalachia technical assistance to craft a market-driven plan for the historic downtown building.
After 45 years, Austin's beloved Wheatsville co-op closes its Guadalupe store Sunday
The Guadalupe Street store's final day is October 25; rising occupancy costs and declining sales ended its run, while the South Lamar store stays open.
Ohio lost 5,000 jobs in September as unemployment rose to 3.4%
The state's jobless rate ticked up to 3.4% with labor force participation falling to 61.2%, state data showed.
U.S. Steel approves nearly $3B hot strip mill near Pittsburgh
The Mon Valley Works project lifts capacity from 2.2 to 3.5 million tons a year, with first production expected in late 2029.
$36M Homestead Crossing breaks ground in Youngstown: 120 affordable homes
Five three-story buildings at 800 E. Indianola Ave. will offer 120 apartments for families earning up to 60% of area median income.
Archer unveils air-taxi networks for Austin, Dallas, Houston
The electric Midnight aircraft would turn 60-90 minute drives into 10-20 minute flights across the Texas Triangle.
Federal judge approves sale of Schwebel Baking Co. assets
The deal guarantees at least $2.8 million for the 120-year-old Mahoning Valley bakery's assets, backed by a $2.35 million deposit.
Bath & Body Works opens first 'Feel Good' concept store; Columbus Easton location this fall
The Charlotte store is the first of three. The Columbus retailer's Easton Town Center location comes next.
Valor Energy moves to buy Youngstown computing center for $3.6M, plans AI data center
The 18-megawatt site at 1911 Logan Ave. would become an AI data center. The deal was disclosed in an Oct. 22 SEC filing.
Intel raises first major truss at Ohio chip plant, but opening slips to 2030
A visible milestone for the $30 billion New Albany project — now at least five years behind its original schedule.