In the region

Woody from the "Toy Story"-themed attraction helps celebrate a turn to profitability. This is one of two new attractions to open; a third is scheduled for later this year.
Woody from the "Toy Story"-themed attraction helps celebrate a turn to profitability. This is one of two new attractions to open; a third is scheduled for later this year. (AP)
Posted: February 20, 2013

In the Region

Diagonal Consulting acquired by G3

Following the recent collapse of its debt-burdened parent company, Diagonal Consulting has been acquired by G3 Global in a cash transaction for an undisclosed amount. Berwyn-based Diagonal is a systems-integration firm that helps large businesses implement SAP software. Diagonal president Steve Woodgate said the deal came together in about two weeks after 2e2, a large U.K. information-technology services firm, fell into administration - the equivalent of a Chapter 11 filing in the United States - in late January. Woodgate said G3 has pledged to grow Diagonal, which has a staff of 15. - Mike Armstrong

Worker sues Hyundai Rotem over pay

Hyundai Motor Co. was sued in federal court for allegedly failing to pay hourly workers at a Philadelphia plant overtime and cheating them out of breaks. Hyundai Rotem, a unit of the Seoul-based manufacturer, automatically deducted 30 minutes of paid time from employee paychecks for each shift, including shifts in which a meal break wasn't taken, Olivia Drake, an assembly-line worker at the railcar-parts plant, said in a complaint filed in Philadelphia. The complaint alleges that the company's actions violate federal and state wage laws. A phone message left at Hyundai Rotem in Philadelphia seeking comment on that suit wasn't immediately returned. - Bloomberg News

India seeks to halt helicopter deal

Italian company Finmeccanica said over the weekend that it complied with the law in its $750 million deal to sell helicopters to India amid allegations that bribes were paid to obtain the contract. India's Defense Ministry said Friday that it had put the deal to purchase 12 helicopters on hold and sent a notice to Finmeccanica's AgustaWestland helicopter division seeking cancellation of the agreement. AgustaWestland, which has helicopter assembly operations in Northeast Philadelphia, said in a statement Saturday that it would reply within a week and that it was "confident" that it would demonstrate "full compliance" with the law. - AP

Alcoa union to vote on contract

Alcoa Inc., the Pittsburgh-based aluminum maker, came closer to resolving a labor dispute after a union representing workers at its ABI smelter in Quebec said it will recommend that members back a new agreement on contracts. The union, which represents about 900 workers at the smelter in Becancour, said workers will be asked to vote in the next few days on an accord to replace one that expired in November. - Bloomberg News

Elsewhere

It's a profitable Disneyland after all

Disneyland in the southern Chinese city of Hong Kong has turned a profit for the first time since it opened in 2005, as new attractions helped push visitor numbers to a record, theme park officials said. The park earned 109 million Hong Kong dollars ($14 million) in the year that ended Sept. 29 and its revenue jumped 18 percent to 4.27 billion Hong Kong dollars ($550 million). The park drew 6.73 million visitors, 13 percent more than the previous year. Legislators and analysts have blamed the park's poor performance on its small size. It's the smallest of Burbank, Calif.-based Walt Disney Co.'s parks worldwide. - AP

Reader's Digest files for Ch. 11 again

The parent company of Reader's Digest has filed for Chapter 11 bankruptcy protection for the second time in less than four years, saying it needs to cut debt so it can keep restructuring. RDA Holding Co. says it will keep publishing the magazine during the bankruptcy, and aims to emerge from bankruptcy within six months. The circulation of Reader's Digest has declined because of competition from the Internet - shrinking by nearly two-thirds since 1995 - but it is still one of the world's most-read magazines. The New York publisher said late Sunday that it plans to cut its debt load by 80 percent to about $100 million during the restructuring. - AP

Google may face European fine

Google Inc. may be fined by European Union data-protection agencies after failing to meet a deadline to say how it will bring its privacy policy in line with EU rules. Google hasn't provided "any precise and effective" responses to EU data-protection regulators' recommendations, France's National Commission for Computing and Civil Liberties, or CNIL, said in a statement. "Our privacy policy respects European law and allows us to create simpler, more effective services," Google said in a statement. "We have engaged fully with the CNIL throughout this process and we'll continue to do so going forward." - Bloomberg News

Nissan opens Silicon Valley center

Nissan Motor Co. opened a research center in California's Silicon Valley that the Japanese carmaker plans to make its hub for research on self-driving vehicles and Internet-connected auto technology. The facility will be staffed by more than 60 engineers and technicians within three years, said Carla Bailo, Nissan's senior vice president for North American research and development. Work on so-called autonomous vehicle systems will move from an R&D center in Japan to Sunnyvale, she said, declining to provide investment details for the project. - Bloomberg News

France: No plans to buy Peugeot

The French government has no plans to nationalize carmaker PSA Peugeot Citroen SA or buy a stake in the company, Finance Minister Pierre Moscovici said. "Taking a stake isn't necessary and wouldn't be helpful," Moscovici told journalists in Paris. - Bloomberg News

  

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