Biz Buzz

LONG ISLAND

CPI moving, expanding

CPI Aerostructures Inc., of Heartland Boulevard in Edgewood, is moving across the street. And the new site has triple the floor space of its current location. The company, which produces structural aircraft parts and is now at 60 Heartland, said Friday it has signed an 11-year lease for 91 Heartland, said Edward J. Fred, CPI Aero president and chief executive. The approximately 171,000-square-foot building "will be used as the company's assembly facility, principal offices and corporate headquarters." CPI will move all its operations out of its current space by Dec. 31. It has a lease on the new space through 2022. "Our planned move into premises that are nearly three times the size of our current location is indicative of our expectations for continued growth in orders, customers, programs and, of course, revenue and profits over the coming years," Fred said. -- Joseph Mallia

Web accolades for Canon

Canon is on a list of the top 15 companies that merit a "most innovative" accolade. The listing, compiled by the website BusinessInsider.com, puts the camera and imaging company in the No. 2 spot, according to Canon U.S.A. Based in Lake Success, the company is building a new headquarters in Melville. The list is titled "15 Most Innovative Companies of All Time." The BusinessInsider list "recognizes Canon for its significant number of U.S. patent filings (41,268 . . . ) as well as the launch of a vast array of innovative products by the company including the IVSB camera -- the first Canon camera sold in the United States in 1955." The BusinessInsider list recognizes international technology companies that have played a critical role in developing and patenting new technologies and innovations over the past several decades. -- Joseph Mallia

INTERNATIONAL

S&P warning on Greece

A leading credit ratings agency warned on Monday that Greece would be considered to be in default if banks rolled over their holdings in the country's debt as proposed recently in a French plan. Standard & Poor's said in a statement that two proposals by an association of French banks "would likely amount to a default" under its criteria because both options offer "less value than the promise of the original securities." S&P's position could wreak havoc on Europe's attempts to deal with the Greek debt crisis, especially if rivals Moody's and Fitch come to the same conclusion. A so-called "selective default" could trigger insurance claims on Greek bonds and cause another bout of turmoil in the financial markets. -- AP

Google shuts social feature

Google Inc. has temporarily shut down a search engine feature that allows users to find real-time updates from Twitter, Facebook, FriendFeed and other social networking sites. A message posted early Monday on Twitter by the team behind Google Realtime says the search feature has been temporarily disabled while Google explores how to incorporate its recently launched Google+ project into the feature. The tweet tells readers to "stay tuned." The company envisions including Google+ information along with other Realtime data from a variety of sources, said Gabriel Stricker, a Google spokesman. Google+ is the search giant's latest stab at entering the social networking segment of the Internet. The project was unveiled last week and lets users share things with small groups of people. -- AP