The board of directors of Farmers National Banc Corp. has declared a cash dividend of 3 cents per share. The common stock cash dividend will have a record date of Dec. 12, and is payable to shareholders Dec. 31.
US: Huntington is top lender in program
Huntington Bank is the top lender by dollar amount among banks participating in the State Small Business Credit Initiative administered by the U.S. Department of the Treasury. Small-business owners in select participating states within the bank’s footprint, including Indiana, Kentucky, Michigan and Ohio, received $72 million in financing from Huntington through SSBCI since the initiative’s inception in 2011. The ranking appears in the Treasury Department SSBCI Summary of the States’ 2013 Annual Report released last month.
Brown praises Commerce action
U.S. Sen. Sherrod Brown, D-Cleveland, on Tuesday commended the U.S. Department of Commerce’s preliminary determination that China has unfairly subsidized its tires to give them an unfair advantage in the U.S. market. Brown previously had urged the department to fully investigate the anti-dumping and countervailing duties petitions filed by the United Steelworkers against passenger-vehicle and light-truck tires from China. In recent years, Chinese tire imports have doubled, threatening American jobs and competitiveness.
US economy posts stronger growth
The U.S. economy grew even faster in the third quarter than initially thought, posting the strongest six months of growth in more than a decade and pulling further ahead of other big economies of the world.
The gross domestic product, the country’s total output of goods and services, expanded at a healthy 3.9 percent annual rate in the July-September period, the Commerce Department reported Tuesday. That’s a notable jump from its first estimate of 3.5 percent. The revision was propelled higher by more-robust consumer and business spending.
Together with a 4.6 percent surge in the spring, the country has recorded its biggest back-to-back quarterly performance since 2003.
Mazda is recalling nearly 100,000 midsize cars in the U.S. to fix a problem with the tire-pressure monitoring system.
The recall affects certain Mazda6 cars from the 2014 and 2015 model-years.
The company says in documents posted Tuesday by U.S. safety regulators that if the air pressure drops on all four tires at the same time, the monitoring system may not warn drivers of the problem. Low air pressure can cause a sudden tire failure.
Mazda says the problem hasn’t caused any crashes or injuries.
Dealers will update the tire-pressure monitoring software at no cost to owners.
Mazda will notify owners by letter. The recall is expected to start Dec. 5.
Vindicator staff/wire reports