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Cleveland Cliffs announces new $1.5B share repurchase program

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Cleveland Cliffs announces new .5B share repurchase program


CLEVELAND, OH. (WLUC) – Cleveland Cliffs will be repurchasing $1.5 billion of its common shares.

During its 2024 first-quarter results report on Tuesday, the company announced the new repurchase program. In the last quarter, Cliffs reported repurchasing 30.4 million common shares as part of its 2022 $1 billion share repurchase program.

Cliffs says share buybacks are now the number one capital allocation priority for the company.

“In the last couple of years, we have reduced our diluted share count by over 100 million shares, or 17%, realizing an average purchase price of $18.79 per share on open market purchases – significantly below what we are trading today,” said Celso L. Goncalves, Cleveland Cliffs executive vice president and CFO.

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The company also reported revenues of $5.2 billion this quarter, compared to $5.1 billion in the fourth quarter of 2023.



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Cleveland, OH

Ohio Evening Briefing: Feb. 12, 2026

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Ohio Evening Briefing: Feb. 12, 2026


Good evening, Ohio. We’re wrapping up the day for you with the most important stories you need to know and your weather outlook.

Your Weather Planner

We turn cold again tonight as overnight lows drop back into the teens and low 20s. Throughout the day Friday, plenty of sunshine combined with Southwest winds will result in a bit warmup with highs in the 40s for much of Ohio. Even warmer air returns for the weekend. 

Tomorrow’s Forecast

 

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Today’s Big Stories

Northeast Ohio man bikes across the Great Lakes

One Northeast Ohio man has taken biking to the extreme. This winter, Eric McKinney took advantage of the ice-cover to bike across the Great Lakes. 

Studies test whether gene-editing can fix high cholesterol. For now, take your medicine

Scientists are testing an entirely new way to fight heart disease: a gene-editing treatment that might offer a one-time fix for high cholesterol.

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Addition of James Harden brings new hope to Cavs fans

James Harden made his home debut for the Cleveland Cavaliers at Rocket Arena on Wednesday night. Cavaliers fans think the trade for Harden elevates the team’s chances to win a championship. 

Universities offer Lourdes students help after closure announcement

The University of Toledo and Walsh University, an independent, Catholic liberal arts university in North Canton, is offering Lourdes University students help after its Board of Trustees announced Lourdes would close at the end of the spring semester. 

In Case You Missed It

Amid allegations of fraudulent test results, two Ohio asphalt companies have agreed to pay $30 million to resolve False Claims Act allegations for results that were submitted to the Ohio Department of Transportation. 



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Cleveland, OH

Final shot of midwinter chill, flurries before warmup takes hold: forecast

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Final shot of midwinter chill, flurries before warmup takes hold: forecast


CLEVELAND, Ohio — A final shot of midwinter chill will hang on across Northeast Ohio on Thursday before a significant warmup takes hold heading into the weekend and early next week.

Light lake-enhanced snow and flurries will persist across far Northeast Ohio through the day, though impacts are expected to remain minimal.

Across the Ohio snowbelt — including Geauga County eastward — accumulation should remain spotty and generally under a half-inch, according to the National Weather Service in Cleveland.

High pressure building east from the western Great Lakes will gradually dry out the atmosphere, limiting moisture and keeping most communities to little more than occasional flurries.

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Farther west, drier air and even intervals of sunshine are expected.

High temperatures across Northeast Ohio are expected to remain below freezing on Thursday, but then the region will see a warmup that will last through at least next week.Courtesy National Weather Service

High temperatures Thursday will run slightly below normal for mid-February, generally topping out near 30 degrees. Overnight lows will dip into the teens as skies partially clear.

Warming trend begins Friday

Graphic showing five-day weather forecast for Cleveland, Ohio, Feb. 12-16
The cold grip of winter will ease starting Friday, with a significant warmup taking hold heading into the weekend and early next week.cleveland.com

Friday marks the transition to a milder pattern. Clouds will gradually give way to more sunshine, and temperatures will rebound into the upper 30s — closer to seasonal averages.

From there, the pattern flips.

Upper-level ridging will expand across the Ohio Valley this weekend and into early next week, sending temperatures well above normal. Highs are expected to reach the low 40s Saturday and Sunday before climbing into the 40s Monday and potentially surpassing 50 degrees Tuesday and Wednesday.

Normal highs for this time of year are in the mid to upper 30s.

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Snowmelt, rising water and ice jam concerns

The extended stretch of mild air will accelerate snowmelt across the region, with temperatures climbing well above normal into early next week.

Most of the current snowpack contains roughly an inch or less of liquid water, though isolated areas could release closer to 2 inches as it melts. With limited precipitation expected over the next several days, widespread flooding is not anticipated. However, gradual rises on rivers are likely.

Thick river ice remains in place across parts of the region, and forecasters caution that ice jams could develop as melting and thermal breakup begin. Residents are encouraged to clear storm drains of snow and debris to help reduce localized ponding as runoff increases.

Aside from a small chance of light rain Sunday — mainly across southern counties — conditions are expected to remain largely dry until the middle of next week, when another system may bring rain along a warm front.



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Charges pending against Garfield Heights man in fatal shooting of Lyft driver

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Charges pending against Garfield Heights man in fatal shooting of Lyft driver


CLEVELAND, Ohio (WOIO) – Cleveland police have made an arrest after a Lyft driver was fatally shot Sunday.

Officers said charges are pending against the 20-year-old man from Garfield Heights. His name was not released.

Investigators are now working to determine if that same suspect is connected to the killing of a second Lyft driver just two days later.

Antoine Latham, 56, was shot in the head inside of his car late Sunday night while driving for Lyft.

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The shooting happened just before 10 p.m. near East 103rd and Rosehill.

First responders initially thought they were responding to a car crash before discovering Latham suffering from a gunshot wound.

He was taken to the hospital, but later died.

Lyft said it permanently banned the rider and is helping police with the investigation.

Early Tuesday morning, officers found a 27-year-old driver shot in the torso and slumped over his steering wheel on East 84th Street.

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According to the Cuyahoga County Medical Examiner, he was identified as Vasyl Shvets from Parma.

Cleveland police confirmed Shvets was also a driver for Lyft.

Cleveland police are investigating both homicides, but don’t believe the two shootings are related.

Below is a statement from Lyft following the second shooting:

Investigators said the only confirmed link between the cases is that both victims drove for Lyft.

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Anyone with information is asked to call the police.



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