Business/Economy

The WBFO Business & Economy News Desk is funded by The M&T Charitable Foundation.

Ireland's PR strategy

Feb 6, 2018

Happy St. Patrick's Day! Here are some need-to-know numbers for your day. 

via GIPHY

A Republican candidate for governor is calling for hearings on controversial tourism signs on the New York State Thruway and other highways set up by the Cuomo Administration. The federal government says the signs are illegal and will withhold federal funds if they are not removed.


File Image/Marketplace (Kai Ryssdal & Robert Garrova)

The bulls ran wild in 2017 and into 2018 but have now given way to a sharp drop in the stock market. The Dow Jones Industrial Average dropped more than 1,100 points on Monday, which followed a 666-point decline on Friday. WBFO asked a local financial advisor, what's going on in the stock market?


Updated at 4:55 p.m. ET

The stock market went on a wild ride again on Monday, with the Dow Jones industrial average closing down 1,175 points, its worst point drop in history. The Dow closed down 4.6 percent and turned negative for the year.

At one point Monday afternoon, the Dow was down 1,579 points — the largest intraday point drop in the history of the index.

Bon-Ton Eastern Hills

Bon-Ton Stores, saddled with debt and struggling with weak sales as shoppers abandon traditional department stores, said Sunday it filed for Chapter 11 bankruptcy protection and was exploring a sale of all or part of the company.

Wallethub

New York’s economy benefits from immigrants more than any other state, according to a new national study.

WalletHub, a personal finance website, analyzed 19 metrics and assigned each state a score based on  the economic impact of immigrants. New York topped the list, followed by California and New Jersey.

The data weighed included immigrants’ household incomes, the number of jobs created by international students and their contributions to innovation.

Michael Mroziak, WBFO

State lawmakers, business and real estate developers as well as local preservation advocates gathered Thursday to send a united message to Governor Andrew Cuomo: do not remove from the budget a tax incentive they say is critical to continued economic redevelopment.


Mike Desmond / WBFO News

This spring, when you head into your favorite licensed establishment and look at the taps, you will see a new beer with an old name. Buffalo's Community Beer Works is reviving Iroquois Beer.

Avery Schneider / WBFO News

A group of advocates say a state law that helps ensure employment opportunities for people with disabilities is in need of an overhaul.


WBFO file photo/Mike Desmond

The cost of parking a vehicle at several downtown Buffalo lots, as well as the means by which lot operators enforce payments, has one board member at Buffalo Place accusing the owners of price gouging. The president of a local parking lot business, though, says what they're doing is fair, legal and reflective of market demands.


Google Maps

The one-time Wildroot complex on Bailey Avenue in Buffalo is getting closer to being an official city landmark. The plan was approved Tuesday in the Common Council's Legislation Committee and sent to the full Council.

Karen DeWitt

The head of Gov. Andrew Cuomo’s economic development programs said he doesn’t think federal corruption trials now taking place will have any effect on the projects.


WBFO News file photo

New York City's subway system handles about 5.7 million riders every weekday, more than 10 times the combined daily ridership of all other public transportation systems in the rest of New York State. But upstate systems face many of the same challenges - plus an added hurdle: getting more state funding at a time when the downstate transit woes get all the attention.

WBFO file photo

Forty doctors at Roswell Park Comprehensive Cancer Center have been honored in an annual directory that recognizes physicians chosen by their peers.


portal.ct.gov

New York Gov. Andrew Cuomo and the governors of New Jersey and Connecticut said they intend to soon file a multi-state lawsuit against the federal tax overhaul law over the partial loss of the deduction of state and local taxes.


Elizabeth Miller

The New York Farm Bureau, the state’s largest agricultural lobbying and trade organization has released its annual list of budget priorities.

Mike Desmond / WBFO News

Pushed hard by Allentown residents, Buffalo's Common Council is now shoving back against the long and slow expansion of bars along Allen Street.

Colored Musicians Club

Prosperity Fellows are at the Colored Musicians Club Thursday and touring the Michigan Street African American Heritage Corridor - talking to entrepreneurs, non-profit leaders and other changemakers. It is part of an active effort to keep the people here who were educated in local colleges and universities.

National Public Radio

New York State will require all internet providers to observe net neutrality or risk losing their eligibility for state contracts.

Babies R Us

Toys R Us is planning to close about 180 stores across the country, including 1 in the Buffalo area, in a bid to restructure the company and emerge from bankruptcy protection.

Twitter

New York State could adopt its own version of net neutrality under legislation announced by state lawmakers.

Michael Mroziak, WBFO

Construction continues on the Northland Workforce Training Center in Buffalo's East Side, a project that many look upon as the anchor of broader Northland Corridor redevelopment. On Tuesday, elected officials, labor leaders and representatives of the financial community announced that millions of dollars in new markets tax credits are fueling the project, warning that federal tax reform has threatened the future use of such credits.


For decades, Women and Children's Hospital was central to life in the Elmwood Village.  Though the massive structure currently sits vacant, the property still stands as a key part of the neighborhood's future. During his monthly appearance on WBFO's Press Pass, Jim Fink of Business First outlined developers' plans to transform the site into hundreds of residences.


M&T Bank

With the music of the Buffalo Philharmonic Orchestra and the singing of the Westminster Presbyterian Church choir, the community remembered M&T Bank Chairman Robert Wilmers, who died in December at the age of 83.

Eileen Buckley / WBFO News

M&T Bank Chairman Robert Wilmers was remembered during a memorial service Monday, but one of the bank's top officials says his way of running the bank and the way he treated people both inside and outside the bank will continue.

Michael Mroziak, WBFO

The Erie Canal Harbor Development Corporation has awarded a contract to an engineering firm that will be responsible for overseeing numerous elements of a forthcoming construction in Buffalo's Canalside.


Apple

If at first you don't succeed.... Erie County Legislature Minority Leader Joseph Lorigo says Apple may a better fit for Western New York than Amazon.

Mike Desmond / WBFO News

You can't see it from Genesee Street in Cheektowaga, but might see it from an airplane flying in or out of Buffalo Niagara International Airport. Calspan unveiled its new $20 million automotive crash-test facility Thursday.

Small Business Administration

The head of the federal government's Small Business Administration is coming to Buffalo Friday to meet with local small business owners while raising awareness of her agency and the services they offer beyond loans.

A report by Gov. Andrew Cuomo’s tax department lists ways that New Yorkers could get around the loss of some of their state and local tax deductions under the new law. But all of them come with complications.


Pages