Bayer to close site in Robinson, over 500 positions impacted

The decision to close the Robinson site will impact 569 positions and 96 contractors.

The site will be closed over a two-year period to “provide ample time for employees and operations to transition smoothly.”

Part of the official statement is as follows:

“For more than 150 years, Bayer has stood for quality and trust, making innovative products in health and nutrition that improve lives and make a contribution to society. Our employees around the globe work every day to find solutions to a growing and aging population.

“With the acquisition of Monsanto completed last year, we doubled the size of our business in the United States to more than $16 billion in sales, and we now employ more than 20,000 people in 300 locations across the country.

“As part of the work to bring our companies together and significantly improve productivity and profitability, Bayer announced in November 2018 that it will reduce 12,000 jobs globally by 2021.”

Read Full Statement From Source: Bayer to close site in Robinson, over 500 positions impacted

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Stock market today: Latest news – CNN

Here’s what investors are watching today, from the Dow to Fed chair Jerome Powell’s speech to oil’s winning streak.

  • Markets: The stock rally continued. The Dow climbed 123 points and the S&P 500 and Nasdaq each ended 0.4% higher.
  • Powell: Fed chair Jerome Powell again emphasized the Fed’s flexibility on policy. Read our recap.
  • Oil: Oil climbed for the 9th straight day, something that hasn’t happened since 2010.

Source: Stock market today: Latest news – CNN

Stocks rise amid trade talks, but gains capped as banks fall

Stocks rose on Tuesday as investors remained cautiously optimistic Washington and Beijing could move forward on a trade deal. However, a decline in bank shares kept a lid on the market’s overall gains.

The Dow Jones Industrial Average gained 166 points, led by Boeing. The S&P 500 rose 0.4 percent as energy outperformed. The Nasdaq Composite climbed 0.3 percent as Amazon jumped 1 percent.

Shares of other tech giants like Apple, Facebook, and Google-parent Alphabet also traded higher. Theese gains add to the so-called FAANG trade’s sharp rise since late December. Through Monday’s close, Facebook shares have surged 12.2 percent since then, while Amazon has rocketed 24.7 percent. Alphabet shares, meanwhile, are up 35 percent in that time period.

Source: Stocks rise amid trade talks, but gains capped as banks fall

Dow Rises as Wall Street Monitors U.S.-China Trade Talks – TheStreet

The Dow Jones Industrial Average is higher Monday amid improved prospects for a trade deal between the U.S. and China.

Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average was higher Monday after the blue-chip index surged Friday following stronger-than-expected jobs data and dovish comments from Federal Reserve Chairman Jerome Powell.
  • General Electric Co. (GE – Get Report)  rose 4.4% Monday following a report that suggested Apollo Global Management LLC (APO – Get Report) could be preparing a $40 billion bid for the company’s airplane leasing division.
  • Eli Lilly & Co. (LLY – Get Report) reached an agreement to buy biopharmaceutical company Loxo Oncology Inc. (LOXO) for $235 a share in cash, or about $8 billion.

Stocks were rising on Monday, Jan. 7, following Friday’s rally that was fueled by much stronger-than-expected U.S. jobs data and dovish messages from the Federal Reserve.

Source: Dow Rises as Wall Street Monitors U.S.-China Trade Talks – TheStreet

Sears liquidation looms as Lampert’s buyout bid fails: report – MarketWatch

Sears Holdings Corp. is preparing a wind down after Chairman Eddie Lampert’s bid to buy several hundred stores out of bankruptcy fell short of bankers’ qualifications, people with knowledge of the matter said.

Sears representatives summoned liquidation firms and other advisers to emergency meetings on Friday after rejecting Lampert’s $4.4 billion bid to buy and operate Sears stores, said the people, who declined to be identified because the discussions were private. Sears would now focus on preparing for liquidation sales to begin as early as mid-month, they said.

If the 125-year-old retailer does die in bankruptcy — like Toys “R” Us in 2018, and Borders Group Inc. in 2011 — it would mark the largest fatality yet in the retail apocalypse prompted by a shift to online shopping and other changing spending patterns.

Source: Sears liquidation looms as Lampert’s buyout bid fails: report – MarketWatch

Western Pa. hospital suspends pay after workers say previous checks bounced

ELLWOOD CITY, Pa. (AP) — A small, financially struggling western Pennsylvania hospital has delayed paying its workers.

Biweekly paychecks due Dec. 21 haven’t been distributed, and employees of Ellwood City Hospital say previous paychecks have bounced.

The Pittsburgh Post-Gazette reports that Grant White, CEO of the hospital’s parent company, blamed the delayed paychecks on a “significant backlog” in collections. He predicted the hospital’s finances would improve this month, pledging in a Dec. 28 email to employees that “everyone will get paid for their work.”

Source: Western Pa. hospital suspends pay after workers say previous checks bounced

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Weirton-Steubenville Corridor Sees Nation’s Highest Percentage of Construction Job Growth | News, Sports, Jobs – The Intelligencer

STEUBENVILLE — The shale gas industry’s impact on the Weirton-Steubenville metropolitan area is expanding.

AGCA said there are now 2,400 people working in the construction industry in the Weirton-Steubenville corridor, up from 1,900.

“It tells you we’re reaping the benefits of the growth in the shale gas industry,” said Pat Ford, executive director of the Business Development Corp. of the Northern Panhandle, citing investments in public infrastructure, pipelines and private investments in energy, the chemical industry, value-added metals, transportation logistics, and retail services.

All that comes to a $1.5 billion investment in the area during the last 10 years. Of that $1.5 billion, there’s been $300 million in road construction and infrastructure — about $20 million of it routine maintenance as well as $100 million in pipeline construction.

Source: Weirton-Steubenville Corridor Sees Nation’s Highest Percentage of Construction Job Growth | News, Sports, Jobs – The Intelligencer

US stocks bounce back after posting early losses – ABC News

The Nasdaq also opened lower but the S&P 500 was slightly higher.

“I think the only explanation is that we’ve had this really nice rebound,” Craig Johnson of Piper Jaffray told ABC News. “We sold off really hard, and then we had a relief rally. It’s not tax law selling anymore, that’s already done, that was over in December, and Chinese industrial production was really weak.”

“Institutional investors are talking about China and what’s going on there rather than what’s going on in Washington,” Johnson added.

Investors were also jittery after The New York Times reported that U.S. trade representative Robert Lighthizer was urging President Trump to hold the line on trade negotiations with China, signaling that the escalating trade war could get worse.

Source: US stocks bounce back after posting early losses – ABC News

Amazon to expand Whole Foods stores: WSJ

Amazon.com is planning to expand its Whole Foods Market portfolio by adding more stores to put more customers within its two-hour delivery service range, The Wall Street Journal reported on Sunday, citing sources.

Whole Foods employees have visited regions of Western North America for potential retail spaces in parts of Idaho, southern Utah and Wyoming where it currently has no stores, the Journal reported, citing a source.

Source: Amazon to expand Whole Foods stores: WSJ

Millions of U.S. workers to see higher pay from minimum-wage hikes in 2019

By Janelle Griffith

Millions of U.S. workers will see increased pay in 2019 due to minimum-wage increases in 20 states and 21 cities.

With the federal minimum wage stuck at $7.25 an hour since 2009, many states and cities have taken it upon themselves to raise the rate for the lowest-paid workers.

Eight states — Arizona, California, Colorado, Maine, Massachusetts, Missouri, New York, and Washington State— are phasing in increases that will eventually put their minimum wages at $12 to $15 an hour, according to the National Employment Law Project (NELP), a nonprofit that advocates for higher minimum wages.

In addition, 13 cities and counties are hiking their minimum wages to $15 an hour or higher in the new year, the nonprofit says.

Workers in lower-cost areas will benefit the most from the increases, said Paul Sonn, state program policy director at NELP. The change will mean less for people in high-cost states like California and New York.

“Right now, in an expensive state like California, a single worker needs about $20 an hour to afford the basics,” Sonn said. “Whereas $15 is what a single worker needs in a less expensive state such as Alabama, Florida or Texas.”

“Fifteen dollars an hour has become the new minimum wage, meaning that that’s to afford the basics,” he said. “It’s just a start. Those with children and in expensive states need even more.”

Source: Millions of U.S. workers to see higher pay from minimum-wage hikes in 2019

In Pennsylvania, people can be jailed for falling back on lease-to-own payments | News | Pittsburgh | Pittsburgh City Paper

Stores like Rent-A-Center were recently criticized for predatory practices against low-income and minority shoppers. In Pittsburgh, the stores are virtually only located in poor and Black communities.

Read Full Story From Source: In Pennsylvania, people can be jailed for falling back on lease-to-own payments | News | Pittsburgh | Pittsburgh City Paper

New Office Hours Aim for Well Rested, More Productive Workers – The New York Times

By Emily Laber-Warren

A few years ago, scientists conducted a real-world experiment at a ThyssenKrupp steel factory in Germany. They assigned the day shift to early risers and the late shift to night owls.

Soon the steel workers, many of whom had been skeptical at the outset, were getting an extra hour of sleep on work nights. By simply aligning work schedules with people’s internal clocks, the researchers had helped people get more and better rest.

In recent years, American educators have been paying increased attention to their students’ sleep needs, with growing debate about delaying school start times.

Read Source: New Office Hours Aim for Well Rested, More Productive Workers – The New York Times

.DJI: Dow Jones Industrial Average – Stock Quote and News – CNBC

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Source: .DJI: Dow Jones Industrial Average – Stock Quote and News – CNBC

The Dow just staged a nearly 900-point turnaround in frenetic Thursday action – MarketWatch

 

The Dow Jones Industrial Average booked a dramatic reversal, ending higher after trading sharply lower on the session Thursday. The Dow DJIA, +1.14% closed 1.1%, or 258 points, at 23,136, on a preliminary basis, after being down by as many as 611 points, or 2.7%, at session lows. The day’s trade follows a historic surge for the Dow that saw it rally by more than 1,000 points, marking the largest single-session point gain in history. The S&P 500 indexSPX, +0.86% also turned positive on the day, ending up 0.9% at 2,488. The Nasdaq Composite Index COMP, +0.38%eked out a modest gain, rising 0.4% to finish at 6,579, based on the preliminary closing levels. The swings occurred within the final hour of trading in a see-saw day. On Wednesday, the Dow ended with a gain of 1,086.25 points, or 5%, at 22,878.45. The S&P 500 soared 5% to end at 2,467.70. The Nasdaq rose 5.8% to 6,554.36.

Source: The Dow just staged a nearly 900-point turnaround in frenetic Thursday action – MarketWatch

Coen Markets acquires CoGo’s, pushes expansion of convenience stores in Pittsburgh region | Pittsburgh Post-Gazette

CoGo’s was acquired by Coen Markets, a Canonsburg-based retailer that more than doubled its footprint to 66 stores in the Tri-State area.

Two longtime, family owned convenience store chains in the Pittsburgh region have come together.

Coen Markets Inc. — a Canonsburg-based company that owns stores in Pennsylvania, West Virginia and Ohio — has picked up CoGo’s, which operates 38 locations in and around Pittsburgh. The deal closed last week. Financial terms were not disclosed.

Source: Coen Markets acquires CoGo’s, pushes expansion of convenience stores in Pittsburgh region | Pittsburgh Post-Gazette

Asian Stock Markets – CNNMoney

Source: Asian Stock Markets – CNNMoney