David Robinson - The Buffalo News

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David Robinson

David Robinson is the deputy business editor for The News, where has worked since graduating from Syracuse University in 1985. A New Hampshire native, he started out in the News' Tonawanda bureau and moved into the business news department in October 1987, exactly a week after the stock market crash.


Business

A little more than seven months after Athenex Inc. closed on its initial public offering, the Buffalo-based drug development company is planning to sell even more shares to investors. The company plans to sell nearly 5 million shares of its stock to investors through a stock sale that could raise almost $72 million for the company, before underwriting fees are deducted,…

Business

The slump in hiring during December pushed the Buffalo Niagara unemployment rate up to 5.5 percent, the state Labor Department reported Tuesday. The rise in the jobless rate pushed unemployment up to a three-year high for December, although it remains relatively low by local standards. "A 5.5 percent rate is still a very low number," said John Slenker, the Labor …

Business

The U.S. solar industry is in an uproar after the Trump administration slapped a tariff of up to 30 percent on solar cells and panels made outside the United States. Tesla Inc., which is slowly building production with its partner, Panasonic, at a massive solar panel factory in South Buffalo, largely shrugged its shoulders at the new tariff. "Tesla is committed to ex…

Business

National Grid and state regulators have agreed on a three-year deal that would increase the average residential customer's monthly bill by about 11 percent over three years. The agreement spreads out the impact of the higher rates, adding $2.22 a month to the typical residential customer's bill immediately and by a total of about $8.50 a month by the time the third year…

Business

The Buffalo Niagara job market turned ice cold in December, shedding more jobs than it has in any month in nearly eight years, according to state Labor Department data released Thursday. The December job data showed that the Buffalo Niagara region lost 4,600 jobs during December – a 0.8 percent decline over the past 12 months that is the steepest year-over-year decline …

Business

Amazon's second headquarters isn't coming to Buffalo. The online retailer on Thursday narrowed its list of potential sites for its highly sought second headquarters to 20 cities in the United States and Canada. Buffalo isn't on it, and neither is Rochester, which teamed up to submit a joint bid for the project, with the encouragement and support of the state. Toronto…

Business

M&T Bank workers will be getting a pay raise. The Buffalo-based bank said it will increase wages for all of its hourly workers and boost the starting pay to $14 to $16 an hour, depending on which market they work in. M&T said the program to increase hourly wages will cost about $25 million once it is fully implemented. M&T said it is "making these inve…

Business

Astronics Corp. is expecting this year to be even better than it expected. The East Aurora aircraft lighting and electronics maker increased its 2018 sales forecast by about 10 percent on Friday, causing its stock to jump by 12 percent. Astronics now says it expects its sales this year to range between $745 million and $815 million, up from its November forecast of $…

Business

Taylor Devices second-quarter profits plunged by 94 percent after the North Tonawanda shock absorber maker's sales were hurt by a weak U.S. construction market and a slowdown in infrastructure spending. Douglas P. Taylor, the company's president, blamed the 38 percent drop in sales on delays on major U.S. building projects that would use the company's seismic dampers, a…

Business

For decades, a home in the Buffalo Niagara region has been a place to live — and not much of an investment. Not anymore. The Buffalo Niagara housing market has radically transformed over the past two years, tilting from a marketplace where buyers had the upper hand to one where sellers now hold the position of strength. Where home sellers once turned to open house…

Business

Tesla started making its solar roofing tiles in Buffalo last month, meeting its goal to start shifting production by the end of 2017 to its South Park Avenue gigafactory of what it hopes will become a signature product for its renewable energy business. The company on Tuesday confirmed that production of solar roofing tiles began in December, although it did not provide…

Business

Tesla's trip through "production hell" with its new Model 3 electric vehicle is taking longer than expected. The electric vehicle maker said Wednesday it delivered 1,550 of its more affordable Model 3 sedans — about six times more than it did during the third quarter but far less than most analysts were expecting. While the deliveries fell short of expectations, Tesl…

Business

After three years of construction and anticipation, 2017 was the year the big projects came to fruition. From the opening of the Oishei Children's Hospital and the new University at Buffalo Jacobs School of Medicine on the rapidly expanding Buffalo Niagara Medical Campus, to the beginning of production at the Tesla solar panel factory in South Buffalo, the big construct…

Business

Heading into 2017, our panel of investment advisers wasn't expecting much out of the stock market this year. Boy, were they wrong. A steady-as-she-goes economy with nary a whiff of inflation, coupled with a massive tax cut targeted mainly at business, sent stock prices soaring this year, with both the Dow Jones Industrial Average and the Nasdaq composite index surgin…

Business

The aging bull market has plenty of legs left. At least that’s how a panel of local investment advisers see it. While the bull market now is the second-longest on record, the combination of deep tax cuts, subdued inflation and continued economic growth should keep stock prices rising throughout 2018, the advisers said. After the market soared in 2017, the advisers…