Business briefs
PPG notified about NYSE compliance
PPG said it received notification from the New York Stock Exchange that it was not in compliance with listing standards because it has delayed filing its first-quarter earnings report. The company is revising its earnings for the quarter ended March 31 as a result of a probe by its board’s audit committee into improper accounting procedures. The NYSE said it can regain compliance by filing six months from May 10 — the date when PPG announced it found errors, fired its controller and would restate its earnings. The company said it cannot predict when it will file because the investigation is ongoing.
For the first time in 226 years, woman to lead the NYSE
The New York Stock Exchange for the first time in its 226-year history will be led by a woman. Stacey Cunningham, who started her career as a floor clerk on the NYSE trading floor, will become the 67th president of the Big Board. That means that two of the world’s most wellknown exchanges will be led by women. Adena Friedman became CEO of Nasdaq in early 2017. Ms. Cunningham, who is the chief operating officer for the NYSE Group, becomes president Friday.
Group urges Harrisburg to deploy 5G
A group of businesses, governments, trade associations and nonprofits announced the formation of the Pennsylvania Partnership for 5G — a group urging Harrisburg to take steps toward deploying 5G, a quicker, more reliable alternative to the 4G LTE wireless standard. Complex, data-driven technologies like driverless cars, robotic deliveries and traffic flow solutions will require 5G to operate efficiently, according to the group. Compared with 4G LTE, 5G is 40 times faster. The partnership will promote the wide-scale deployment of small cell nodes, a technology that will give smart device users access to 5G connectivity when it becomes commercially available in 2020.