Edwards Vacuum debuting headquarters in Sanborn
Edwards Vacuum today will officially unveil its new North American headquarters in Sanborn with a tour for invited guests.
United Kingdom-based Edwards is consolidating operations from different operations, including 28 new jobs from Massachusetts, into its $3.5 million Sanborn location. The facility will ultimately have about 150 jobs.
Senior officials from the company, including its chief operating officer, are expected to attend. Edwards, which previously had a location on Grand Island, makes vacuum products and abatement systems. It also provides services for making semiconductors, flat panel displays, LEDs and solar cells, and it is a leader in vacuum technology for industrial, pharmaceutical, chemical, scientific, process, glass coating and food packaging industries.
MasterCard profits jump
NEW YORK (AP) -- Shoppers in Latin America, the Asia Pacific and the Middle East powered a 25 percent increase in MasterCard's profit for the first three months of the year.
The Purchase, N.Y.-based payments processor reported income of $682 million Wednesday, or $5.36 per share, on revenue of $1.8 billion. That exceeded Wall Street's expectations of $5.29 per share on revenue of $1.73 billion.
Ajay Banga, MasterCard's chief executive officer, said the amount of purchases the company processed jumped 29 percent, the highest growth rate since the company went public.
MasterCard usage in the U.S. grew 14 percent as people spent more in restaurants and on apparel, hardware and electronics. Banga told analysts on a conference call that the U.S. economy would have to do better for that growth to continue.
Visa profit up 30 percent
NEW YORK (AP) -- Visa said Wednesday that its profit for the first three months of the year was up 30 percent from the year before, primarily because credit card use rose in the United States and overseas.
The company said Americans rang up 12 percent more on their charge cards for the quarter. Debit card use grew by only 4 percent, however, the slowest growth in a year.
Banks have eliminated some debit card rewards programs since October, when the government limited the fees banks can charge stores for card transactions.
Like MasterCard, Visa makes money by processing card transactions for banks and other issuers.
For the quarter, Visa said its net income was $1.3 billion, or $1.60 per share. Wall Street was expecting $1.51. Revenue rose 15 percent to $2.6 billion. Wall Street was expecting $2.48 billion.
Target dropping Kindle
NEW YORK (AP) -- Target Corp. is phasing out Amazon's e-reader Kindle at its more than 1,700 stores and its website.
Target spokeswoman Molly Snyder said Wednesday that the decision to stop selling Kindles this spring came after an "ongoing review" of Target's merchandise that evaluates quality and prices of the chain's offerings.
The move coincides with the discounter's plan to create minishops of Apple Inc. products in 25 of its stores this year.
Odd Fellow contract ratified
Workers at Odd Fellow and Rebekah Rehabilitation Health Care Center in Lockport have ratified a labor agreement that will remain in effect until May 2014.
The deal was approved by a vote of 70-1. Local 1199, Service Employees International Union, United Healthcare Workers East, represents 110 employees covered by the agreement.
The contract includes wage increases and bonuses, improvements to health insurance coverage and job security language.
LUSH to open in Galleria
LUSH Fresh Handmade Cosmetics, a British beauty product store, will open its first Western New York store at the Walden Galleria this month.
The 800-square-foot store will feature handmade bath, body, skin and hair care products. The products are touted as environmentally friendly and "cruelty free," meaning they're not tested on animals.
LUSH is shooting for a soft opening the weekend of May 12. The company has 800 stores around the world, 108 of them in the United States.