Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

Reed Smith managing partner re-elected

Alexander "Sandy" Thomas was re-elected Tuesday as global managing partner of Reed Smith LLP. Mr. Thomas ran unopposed and the law firm's partners elected him to a four-year term that will run through July 31, 2020. Mr. Thomas is only the 11th managing partner in the global law firm's 140-year history. He now leads more than 1,700 lawyers in 27 offices worldwide. Mr. Thomas also will continue in his role as chair of Reed Smith's executive committee.

Howard Hanna Real Estate continues to dominate

O'Hara-based Howard Hanna Real Estate Services was ranked No. 1 in the Pittsburgh metropolitan area with 18,023 closed transactions in 2016. Closed sales volume for Howard Hanna Real Estate hit $3.7 billion, according to the Real Trends 2017 Market Leaders report, which ranks firms in metropolitan areas to compare how firms are doing by market. Howard Hanna's closest competitor, Coldwell Banker, reported 8,023 closed transactions and closed sales volume of $1.6 billion.

U.S. factory activity grew more slowly in July

U.S. factories expanded again last month - a good sign for the economy. But pace of growth was down from June. The Institute for Supply Management reports that its manufacturing index slipped to 56.3 from the June reading of 57.8. Still, anything above 50 signals that manufacturers are expanding, and America's factories have been on an 11-month winning streak. U.S. factories have largely recovered from a slump in late 2015 and early 2016 caused by cutbacks in the energy industry and a strong dollar, which makes U.S. goods more expensive in foreign markets. Factory orders, production and hiring all grew more slowly in July. Export orders also grew but at a slower clip.

Car sales decline for seventh straight month

U.S. sales of new cars and trucks showed declines in July as consumers pulled back on purchases and hoped for Labor Day deals. July was likely the seventh straight month of lower sales in a peaking market. Analysts have been predicting lower U.S. sales this year after an unprecedented seven straight years of growth. …

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