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Business

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Area touted to overseas companies

A Northeast Indiana Regional Partnership official has reported promising business leads after returning last week from a two-week trip to Italy, Germany and the United Kingdom.

Dale Buuck, vice president of business development, visited companies in the medical device, automotive and advanced manufacturing industries, among others, from Sept. 30 to Oct. 11. The goal was to promote northeast Indiana to companies that have an interest in establishing U.S. operations.

A U.K. company is now planning a second trip to this region, as a result of Buuck’s visit. And two more companies have expressed interest in scheduling visits to northeast Indiana.

“With many of these companies, more and more of their revenue stream is coming from outside their home country,” Buuck said in a statement. “They see the need to be in the U.S., and they are looking for someone to help them understand the process and guide them along the way.”

Ligonier manufacturer to add 50, host job fair

Ligonier-based Tenneco Inc. will host a job fair from 9 a.m. to noon Saturday at the Ligonier Recreational Center, 520 W. Union St.

The designer, manufacturer and distributor of clean-air and ride-performance products seeks to fill 50 positions, according to the Northeast Indiana Regional Workforce Investment Board.

The open positions include machine operators, welders, material handlers and equipment set-up operators. Starting wages for full-time positions range from $13 to $14.50 an hour.

Prospective employees must have achieved high school equivalency. In cases where a specialized skill is needed, Tenneco officials said, training will be offered.

Existing home sales jump 10.5 percent

Existing home sales in the region increased 10.5 percent in September, compared with the same month a year ago, a report Thursday from the Upstate Alliance of Realtors showed.

Upstate, which tracks data from Allen, Adams, DeKalb, Huntington, Noble, Wells and Whitley counties, said 609 homes sold last month, up from 551 in September 2012. The average September sale price was $127,401, a 5.9 percent decrease from $135,338 the same month last year.

Verizon profit soars as devices added

Verizon’s third-quarter net income jumped 40 percent to beat Wall Street expectations as it continued to add more wireless devices to its network.

The country’s largest cellphone carrier earned $2.23 billion, or 78 cents per share, up from $1.59 billion, or 56 cents per share, in the same quarter of 2012. Excluding one-time items, the company posted an adjusted profit of 77 cents per share for the recent quarter. Revenue rose 4 percent to $30.28 billion from $29.01 billion.

Jobless aid requests drop to 358,000

Applications for US unemployment benefits dropped 15,000 to a seasonally adjusted 358,000 last week, though the figure was distorted for the second straight week by California’s efforts to clear a backlog.

The partial government shutdown also likely boosted the total, as government contractors and other businesses furloughed employees. The Labor Department says the less volatile four-week average rose 11,750 to 336,500.

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