Share this article

Business

print logo
Business

Silicon Valley venture capitalist Victor Hwang looks at Buffalo and sees plenty of assets – such as universities, talented people and civic pride – necessary to build the type of “innovative economy” his home region is famous for.“The only thing left is to unlock the relationships and the culture between everybody, so they can create great things together,” Hwang said Tues…

A strike by Wegmans workers in Rochester does not seem imminent, and officials from the supermarket chain said they are taking steps to make sure a work stoppage wouldn’t affect its Buffalo stores if one did occur.The more than 900 Wegmans workers affected by the contract dispute are truck drivers, warehouse workers and mechanics who do everything from maintaining the flee…

Business

State Attorney General Eric T. Schneiderman made good Tuesday on threats of legal action against an embattled crematory in the Town of Tonawanda by filing a lawsuit seeking to permanently block its operation.The lawsuit filed in State Supreme Court marks the latest in a series of setbacks for the dormant Sheridan Drive crematory operated by the Amigone family, which has be…

Will Poultry Co., the venerable Buffalo wholesale food distributor whose roots date back from before the Depression, is changing owners.The business has been sold to a group of local investors and expects to continue its operations virtually unchanged.“The transition is going to be as seamless as possible,” said Donald E. Will, the company’s CEO and owner. “It’s going to k…

Cleveland BioLabs has landed a $10 million loan from a technology finance company that will give the Buffalo life sciences firm enough cash to fund its operations into the second half of next year.The loan from Hercules Technology Growth Capital will give Cleveland BioLabs the cash it needs to keep operating well into 2014 while it continues to pursue up to $50 million in …

Astronics Corp., moving to bolster its aircraft electronics business, has acquired a New Hampshire company that makes the antenna systems used to bring satellite and ground-based communications into an airplane.The move to acquire AeroSat Corp. in a $12 million cash deal expands Astronics’ line of products that help airline passengers use their electronic devices during fl…

Following a spate of negative press reports and complaints from Congress about fees associated with payroll debit cards, federal regulators have issued a warning to employers that they cannot force workers to receive their pay on the cards.The bulletin was issued this month by the Consumer Financial Protection Bureau, the consumer watchdog agency created in the wake of the…

Business

Americans probably will be paying the lowest prices for gasoline since January 2011 by Christmas, with some drivers filling up for less than $3 a gallon.Prices may drop 25 cents to 30 cents by Dec. 25, said Michael Green, a spokesman for AAA in Washington, D.C.The U.S. is heading toward October with the lowest seasonal pump prices since 2010. The average cost for a gallon …

Deals between colleges and banks for co-branded financial services don’t necessarily lead to better deals for students who sign up for accounts the partnerships offer, U.S. Consumer Financial Protection Bureau said Monday.“College affinity products generally do not appear to have more attractive features compared to other student checking products,” said Rohit Chopra, assi…

NIAGARA FALLS – Regional attractions are losing visitors from school field trips because of budget cuts.Some signage in downtown Niagara Falls may be either missing or misleading to tourists.Shifty tour guides are attempting shakedowns at local attractions.And there still is no means of transportation connecting attractions in the Falls to others around Niagara County and …

The Federal Deposit Insurance Corp. has released its annual snasphot of how financial institutions split up the deposit pie in Western New York. M&T Bank Corp. remained securely at the top, increasing its deposit market share to 47.2 percent from 42.75 percent the year before. As of June 30, M&T reported deposits of $15.6 billion -- out of $33 billion for the …

Apple has unseated Coca-Cola as the world’s No. 1 brand, as the company founded by Steve Jobs is viewed as a leader in design, performance and focuses on customers, according to a study of the Top 100 brands by Interbrand Corp.Interbrand’s latest list reflects the growing clout the technology industry has in influencing consumer tastes and driving demand.Apple, a powerhous…

Buffalo

A malfunctioning lift bridge that prevented a large Canadian freighter from delivering its grain shipment was back in operation today. The city was able to repair the bridge, which was experiencing problems in its electronic operating system, and open it this morning. The Robert S. Pierson, a Canadian freighter nearly as long as two football fields, sat motionless against…

Claims Recovery Financial Services is expanding its Albion operations, moving into the building where JPMorgan Chase formerly operated a call center.CRFS, which provides claims processing services, has hired 55 former employees and managers of the call center, and it has plans to create an additional 150 jobs, according to Jodi Gaines, the company’s founder and chief execu…

All you have to do is check out the diet books on best-seller lists to know that “healthy eating” can take many different forms.But even a perfectly nutritious plan won’t improve your health if it costs too much, lacks flavor or is hard to follow because the meals take too long to prepare. Consumer Reports recently evaluated the pros and cons of five nutrition regimens.The…