Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

Range Resources swings to a loss in third quarter

Hit by the same low oil and gas prices hammering other Marcellus Shale producers, Range Resources Corp. said it lost $301 million, or $1.81 per share, during the past three months. Last year, the Texas-based company posted a $146 million profit, or 87 cents per share, during the quarter. But it was a $502 million impairment charge that sent Range into the red. The company wrote down the value of oil and gas properties in northern Oklahoma and assets in northwest Pennsylvania. Revenue during the quarter was $479 million, a 22 percent drop from $617 million in the year-ago quarter.

Verizon announces job cuts amid wireless reorganization

Verizon Communications Inc., the largest U.S. wireless carrier, informed employees that its wireless operations will be reorganized and that there will be an unspecified number of job cuts. The company's 20 regional offices will be reduced to six, Verizon spokesman Jim Gerace said. He said some jobs will be eliminated though he declined to say how many. Sales and store employees won't be affected, he said. Verizon, which had a workforce of 177,900 as of the end of the third quarter, is seeking to cut costs as U.S. households give up their traditional home phones in favor of mobile technology.

Downtown law firm to merge with Burns White

Downtown law firm Dapper, Baldasare, Benson, Behling & Kane will merge with the Pittsburgh office of Burns White effective Jan. 1. Dapper, Baldasare has 11 attorneys and six support staff. After the merger, Burns White will have more than 86 lawyers in Pittsburgh and about 50 more at eight other offices. Burns White is based on the North Shore and plans to move to the Strip District in 2017.

Perrigo CEO says shareholders won't accept Mylan bid

Perrigo CEO Joseph Papa, who visited Israel this week to woo large investors, said he is confident shareholders will not accept a hostile takeover bid from generic drug maker Mylan. Israeli investors together hold about 12 percent of Perrigo. Under takeover laws in Ireland, where Perrigo is incorporated, Mylan needs 80 percent of shareholders' votes to take over Perrigo. …

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