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Business News

Foxconn announces AI partnership

Staff report Foxconn continued its diversification playbook with Wednesday’s announcement it had entered into a partnership targeting AI data center development. Hon Hai Technology Group, known as Foxconn, and TECO Electric & Machinery Co. Ltd. outlined their alliance at the Taiwan ...

Most stocks fall as hopes weaken for a cut to interest rates

NEW YORK (AP) — Most U.S. stocks slipped on Wednesday after doubts rose on Wall Street about whether the Federal Reserve will deliver economy-juicing cuts to interest rates by September. The S&P 500 edged down by 0.1%, coming off its first loss after setting all-time highs for six ...

Foxconn trading to halt pending announcement

Staff report A major announcement from Taiwan electronics giant Foxconn is anticipated today, the Reuters news service reported. Hon Hai Precision Industry, known as Foxconn in the United States, said it will suspend trading pending the news. Per Reuters, companies in the island nation ...

Union Pacific, Norfolk Southern seek merger

OMAHA, Neb. (AP) — Union Pacific wants to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, potentially triggering a final wave of rail mergers across the country. The proposed merger, announced Tuesday, would marry Union ...

Valley native takes helm of energy foundation

Mahoning Valley native Rick Stockburger has been named inaugural CEO of the Foundation for Energy Security and Innovation, the U.S. Department of Energy announced Monday. The former president and CEO of BRITE Energy Innovators in Warren, Stockburger will oversee the department’s first ...

Consumers Bank to open first full-service site in Mahoning County

Staff report Consumers National Bank will open its first full-service branch office in Mahoning County next summer, the Minerva-based company said Monday. Company officials said they received permission from the Office of the Comptroller of the Currency in Washington, D.C., to operate its ...