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Business

  • SDI reports first-quarter earnings
    Steel Dynamics Inc. Wednesday reported first-quarter earnings of $38.6 million, or 17 cents per diluted share, a 20 percent decline from the $48.
  • PNC quarterly earnings up 7%
    The PNC Financial Services Group Inc. today reported first-quarter earnings of $1.06 billion, or $1.82 per diluted common share, a 7 percent increase from the $995 million, or $1.74 a share, posted for the same three months of 2013.
  • Athena Award winner honored
    FORT WAYNE – The leader and CEO of Big Brothers Big Sisters of Northeast Indiana was recognized Wednesday for her role in the community and her dedication to empowering women.
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Briefs

Retail spot in works on Calhoun St.

A new mixed-use venture is under way in downtown Fort Wayne’s SoCal district.

Scott and Melissa Glaze and David Corcoran are restoring a building at 821 S. Calhoun St. with hopes of establishing four apartments and likely a restaurant.

They expect the project to be completed by early summer.

The roughly 7,000-square-foot three-story building was built in the 1890s as a bank, but in recent years it has housed a brokerage firm and art gallery.

Scott Glaze said workers have restored a metal-plated ceiling and the building’s red sandstone facade.

“We want to do it right,” he said, declining to disclose an investment amount. “We want apartments on the second and third floors and retail on the main floor.”

Glaze also is CEO of Fort Wayne Metals and owner of JK O’Donnell’s restaurant downtown.

2013 economic outlook strong for Fort Wayne

Fort Wayne’s labor market is continuing a strong recovery, PNC Financial Services Group reported Wednesday.

The Pittsburgh-based economists forecast “steadily falling unemployment and broad-based job creation” for the city in 2013.

Median household income will continue to increase in Fort Wayne during the next two years to more than $49,000 by the end of 2014, the experts said. The current level is less than $48,000, PNC’s data show.

Income growth leads, the experts said, “to a self-reinforcing cycle of consumer spending, business expansion and job creation.”

Fort Wayne’s affordable housing market is also poised for a comeback, PNC said. “Existing home sales are not at all far below healthy-market conditions,” the economists said.

Al-Jazeera in talks to buy Current TV

Arab television network Al-Jazeera is in talks to buy Current TV, according to a person familiar with the matter.

The person was not authorized to speak publicly and spoke on condition of anonymity.

The acquisition, if consummated, could give Al-Jazeera access to a broader range of U.S. television viewers. Although its programming is available in some large metropolitan areas, the network’s executives have long been frustrated in their efforts to secure carriage deals with TV distributors.

Current TV, founded in 2005 by former Vice President Al Gore and Joel Hyatt, is available in 60 million U.S. homes.

News of the deal was earlier reported by the New York Times.

Microsoft renews plea for Google crackdown

Microsoft began the new year making a favorite case: that government regulators need to crack down on Google to preserve fair competition in the Internet and smartphone markets.

The latest refrain came Wednesday in a blog post by Dave Heiner, Microsoft’s deputy general counsel. His attack amounted to a last-ditch appeal to the U.S. Federal Trade Commission and the European Commission as they wrap up wide-ranging investigations into Google’s business practices.

Resolutions to those probes are expected early this year, perhaps within the next week at the FTC.

Microsoft fears Google, perhaps its biggest nemesis, will emerge from the antitrust probes without being required to make significant changes.

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