Business - The Buffalo News
print logo

The exodus continues at SolarCity's California executive suite, just as hiring starts to ramp up at its sprawling solar panel factory in Buffalo. Only eight months after Tesla Inc. acquired SolarCity, all of the rooftop solar installer's highest-ranking executives have either left or plan to leave the electric vehicle-maker, including co-founders Lyndon and Peter Rive. …

KeyCorp credited the First Niagara deal with helping deliver solid results in the second quarter. “We were pleased with the strength and quality of our second quarter results, which reflect Key's continued business momentum and realization of value from the First Niagara acquisition," said Beth Mooney, Key's chairman and CEO, in a statement. Cleveland-based Key on…

CNB Financial Corp., which has a local presence through Bank on Buffalo, recorded a 64 percent increase in its second quarter profits, to $6.7 million. Pennsylvania-based CNB's net interest income from making loans and taking deposits increased nearly 19 percent, to $23 million. Its non-interest income from sources like fees increased 6 percent, to $5.1 million. CNB…

It's the end of an era on Elmwood Avenue. Urban will close its doors Aug. 27 after 25 years on the Elmwood strip. The name of the store, at 736 Elmwood Ave., has changed over the years to correspond with its changing retail focus. When it opened in 1992, it was called Urban Surfer after the surf and skate gear and clothing it sold. When it shifted its focus to snowboard…

Many businesses are taking a wait-and-see approach about decisions coming out of Washington, before taking on new debt through loans, a top M&T Bank executive said Wednesday. "We're not dire on the economy by any stretch, but I would say there is some uncertainty and some cautiousness," Darren J. King, M&T Bank's chief financial officer, said as M&T release…

Amid other changes, two new stores are coming to Walden Galleria. BoxLunch, a novelty gift shop and apparel store, will open by the end of summer. The store will fill 1,798 square feet on the upper level near J.C. Penney. Similar to Hot Topic or Spencer's, BoxLunch sells licensed and non-licensed pop culture merchandise such as "Game of Thrones" T-shirts, Harry Potte…

Buffalo Canvas opened its doors at 1882 Hertel Ave. earlier this month. The wall art and gift shop is the retail arm of an art and design company that has been in business for five years.  It provides fine art, printing services, photography, design and installation. Its clientele include photographers, artists, commercial and small businesses, interior designers and …

Gymboree, a children's clothing retailer, will close its store at Walden Galleria. Crazy 8, a children's retail brand owned by Gymboree, will also close stores at the Boulevard Mall and Walden Galleria. No closing dates have been announced, but liquidation sales began Tuesday. San Francisco-based Gymboree is closing 350 stores across the nation as part of a bankruptc…

Peter Rive, the co-founder of SolarCity and a key figure in the development of its solar roof, is leaving Tesla Inc., eight months after the electric vehicle maker run by his cousin, Elon Musk, acquired the rooftop solar installer. Rive's departure also comes two months after the departure of his brother, Lyndon, another SolarCity co-founder and its former president and…

Every meaningful piece of clothing Kathy Forster has ever bought has come from J.C. Penney in Dunkirk's D&F Plaza – her sons' baptism gowns, their communion suits, the shirt and tie her 18-year-old wore to his first job interview. It's where Dehlia Wysocki of Cassadaga always turns first for clothes that suit her age. Now that it's closing, she's not sure what she…

Two proposed redevelopment projects in downtown Buffalo are in line for $1.5 million in low-interest loans, as part of the latest allocation of funds under the Buffalo Building Reuse Project program. The Buffalo Urban Development Corp. is recommending loans of $750,000 each be approved for Rocco Termini's Signature Development Buffalo LLC and McGuire Development Co. for…

M&T Bank's net income increased 13 percent in the second quarter from a year ago, to $381 million, topping analyst forecasts. The Buffalo-based bank recorded diluted earnings per share of $2.35, up 19 percent from a year earlier. The earnings were better than the $2.28 per share that analysts surveyed by Zacks Investment Research were expecting. M&T during th…

Restaurants are generally open rain or shine, or even snow. But at least the owners of one of the city's newest fine-dining eateries will know what to expect, or where to find out. Kevin O'Connell Jr., son of WGRZ Chief Meteorologist Kevin O'Connell, is working with a fellow hospitality veteran to open the Greystone Restaurant. The 45-seat "white-tablecloth" establishme…

Blaze Pizza, the fastest-growing restaurant chain in history thanks in no small part to its connection to NBA superstar LeBron James, is opening a franchise in an Amherst retail plaza. James has been an active investor, franchisee and social-media promoter of Blaze Pizza almost since the fast-casual chain opened its first two locations five years ago in Southern Califor…

Connie Ervin was one of the first residents in the Fruit Belt to have a solar panel system installed on her home's roof as part of National Grid's solar power demonstration program. Naturally, she fielded a lot of questions. "Whenever I was out on the porch or working in the yard, neighbors would stop by and have conversations and ask how the process worked," said …