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A major earthquake, which occurred off of the Northeast coast of Japan on Friday, causing a killer tsunami that took the lives of hundreds of people has already affected businesses on multiple continents. The fallout from the quake and the ensuing tsunami as created concern within the auto industry, as production in and shipments from Japan have been impacted by the tragic events. Reuters, for example, reports that the natural disaster has caused Japanese officials to shutter all of that nation’s major...

The 2011 forecast for San Antonio’s retail sector, according to real estate brokerage firm Marcus & Millichap: a rise in employment, a rise in effective rents, and declines in construction and vacancy figures. It doesn’t get much better than that. Some more good news: San Antonio moved up three places on Marcus & Millichap’s National Retail Index (NRI) — which ranks the country’s largest 44 metros according to various supply and demand factors that will impact these retail markets over the coming 12...

Valero Energy Corp. on Friday confirmed that the company will acquire Chevron Corp.’s Pembroke refinery in Wales, U.K., plus its marketing and logistics assets throughout the United Kingdom and Ireland for $730 million. The transaction should close in the third quarter of 2011, pending regulatory approvals. The Pembroke refinery has a total throughput capacity of 270,000 barrels per day and is one of Western Europe’s largest and most complex refineries. The purchase also includes ownership interests in four major product pipelines and 11 fuel terminals, a 14,000-barrel-per-day aviation fuels business and a network of more than 1,000 Texaco-branded wholesale...

OncoVista Innovative Therapies Inc. has received the first payment from the sale of the company’s majority interest in AdnaGen AG last November, according to the company’s letter to shareholders. OncoVista could receive as much as $64.7 million in cash from the sale of AdnaGen if certain milestones are met. The company is using the funds to accelerate the development of OVI-123 and OVI-117, two investigational drugs that could be used to treat leukemia and solid tumors found in the breast, colon and prostate,...

Robinson Value Management’s Market Opportunity Composite portfolio was ranked as one of the Star Top Guns in three areas by Informa Investments Solutions. The rankings were as follows: • No. 1 for the three years ending June 30, 2011; • among the top 10 for the second quarter 2011; and • among the top 10 for the one-year period ending June 30, 2011. The rankings were released in an Informa report, which analyzes both returns and risk statistics to determine the top 10 performers in each peer group among managers submitting data to IIS’ Plan Sponsor Network (PSN) database...

USAA Federal Savings Bank was ranked No. 32 among the top 50 banks and thrifts in the country based on total assets. This was a move up on the rung from 36th the year prior. USAA Federal Savings Bank was the only San Antonio financial institution on the top 50 list. USAA Federal Savings Bank had total assets of $48.8 billion and total deposits of $43.8 billion. Charlotte, N.C.-based Bank of America Corp. (NYSE: BAC), which has branches in San Antonio, ranked first on the list. The financial institutions were ranked by assets as of the second quarter of 2011 by SNL Financial — a provider of breaking news, financial data and expert analysis on the banking, insurance, financial services, real estate, energy, and media and communications industries...

The Public Utility Commission is urging all Texans to conserve electricity as severe drought conditions and record high temperatures continue to strain the electric grid. The PUC is asking residential and business customers to set thermostats at least two degrees higher and turn off unnecessary lighting between the hours of 3 p.m. and 7 p.m. Individuals are also being asked to hold off from using their dishwashers or washers/dryers until late in the evening. “Texans really need to save energy these last few days of August,” says PUC Chairman Donna Nelson...

Comerica Inc. plans to eliminate six back-office positions in San Antonio as a result of the company’s recent acquisition of Sterling Bancshares Inc. The news comes on the heels of a letter it sent to the Texas Workforce Commission announcing plans to eliminate about 300 positions over the next six months at its Houston operations. The eliminations, say company officials, are a result of Comerica’s recent acquisition of Sterling Bancshares Inc. — which was completed July 28. At the time of the completion of the acquisition, Sterling Bank had seven branches in San Antonio...

From the group that brought MAX’s Wine Dive to San Antonio comes a concept tailor-made for a renowned local landmark. Houston-based Lasco Enterprises has announced plans for a new restaurant at the Pearl Brewery redevelopment. Known as The Boiler House Grill and Wine Garden, the restaurant will be located in the building that still houses the boilers that were once crucial to the brewing process. The restaurant will measure roughly 6,000 square feet. It will also boast a large outdoor patio. Items to be featured on the menu include wild game, seafood, lots of local ingredients, and even a late-night dining menu...

During his address to the Veterans of Foreign Wars 112th National Convention, Texas Gov. Rick Perry highlighted a $3 million grant program to help veterans buy, build, rehabilitate or rent a home. Administered by the Texas Veterans Commission, the program, known as Housing4TexasHeroes, issues grants to help veterans buy or repair their homes, or renovate a home to meet special needs caused by service-related disabilities. “Housing4TexasHeroes will help ensure veterans and their families have adequate housing as they ease back into civilian life and enjoy the blessings of liberty they have earned with their own valor and sacrifice,” Perry says...