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Business

  • Peoples Bancorp yearly earnings up 30%
    Peoples Bancorp today reported fiscal 2014 earnings of $3.4 million, or $1.47 per diluted common share, a 30 percent increase from the $2.6 million, or $1.11 a share, posted for the previous 12 months.
  • Ossian auto-parts supplier to add 70 jobs
    A Wells County auto parts supplier is expanding its workforce by about 50 percent, officials announced today.
  • TI Automotive expanding, adding jobs
    TI Automotive in Ossian, Ind. announced today they will invest $10 million into their Wells County manufacturing facility in the form of new process equipment.
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Briefs

Disneyland rides high – for Chinese

Turning a page on years of losses, Hong Kong Disneyland said Monday it was profitable for a second straight year and plans to build a third hotel to help cater to rising numbers of visitors.

The theme park in the southern Chinese city more than doubled its profit to $31 million in the year to September.

Revenue climbed 15 percent as visitors rose 10 percent to a high of 7.4 million.

The park had struggled after opening in 2005, with its poor performance blamed on its small size.

But it became profitable in 2012 thanks to new attractions that drew more visitors, especially from mainland China.

Officials announced plans to build a 750-room resort-hotel that is expected to open by early 2017. The new hotel will raise total room capacity by three-quarters to 1,750.

Toyota recalls SUVs overseas; risk of fire

Toyota Motor Corp. said Monday it is recalling 13,000 FJ Cruiser sport-utility vehicles, mostly in the Middle East, for fuel tubes that may overheat, melt and set off a gas leak.

The automaker said five fires have been reported related to the defect. There have been no reports of injuries or deaths.

The recall announced covers FJ Cruisers manufactured between October 2012 and January 2014.

An estimated 10,180 of the vehicles are in the Middle East and 2,500 in Australia, with the rest in Africa and Panama.

Starr, Partners Group buy claims processor

A group led by Starr Investment Holdings said Monday that it is buying MultiPlan Inc., which helps manage claims for large health insurers.

The purchase price was $4.4 billion, according to a person close to the deal, who spoke on condition of anonymity because the companies did not publicly disclose terms.

Starr and Switzerland-based Partners Group said their group had agreed to buy MultiPlan from private equity firms Silver Lake and BC Partners.

Starr is part of C.V. Starr & Co., which is led by former American International Group Inc. CEO Maurice “Hank” Greenberg.

MultiPlan says on its website that it has nearly 900,000 health care providers under contract and processes 40 million claims a year for payers in health care and other markets.

Euro officials seek deal on bank body

Finance ministers from the 18-nation eurozone are trying to agree with European lawmakers on the timely creation of a body that can unwind or restructure ailing banks.

Dutch finance Minister Jeroen Dijsselbloem said Monday he was confident an agreement on the so-called single resolution mechanism will be reached to ensure the legislation can be passed in April.

But German Finance Minister Wolfgang Schaeuble cautioned there was only a limited scope for compromise.

European parliament lawmakers have rejected the ministers’ proposal and threatened to shelve the project unless the governments offer significant concessions.

Failure to pass the legislation before parliament’s term expires in May would delay the project until 2015. The body would be part of a wider banking union, the bloc’s main effort to stabilize its financial system.

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