| Business

Worker productivity falls faster than estimated; labor costs rise

By The Associated Press 9:35 p.m.
WASHINGTON — Worker productivity was even weaker than first thought from October through December, and labor costs rose at a faster rate. Productivity declined at an annual rate of 2.2 percent in the fourth quarter, weaker than the 1.8 percent drop ...

Nonstop flights offered to Bahamas from Pittsburgh

By Kellie B. Gormly 9:15 p.m.
In the midst of winter’s last blast of snow and frigid temperatures, fantasize about this: floating in aquamarine water surrounding beaches with six types of ...

Stocks snap losing streak as ECB reveals stimulus start date

By The Associated Press 9:00 p.m.
NEW YORK — The stock market closed slightly higher Thursday as gains for utilities and financial stocks were largely offset by losses in energy and ...

Cleveland district, including Pittsburgh, shows moderate economic growth in latest Beige Book report from Fed

By Chris Fleisher
The regional economy grew at a moderate pace through mid-February despite severe winter storms and the damage to the shale industry from low gas prices, the Federal Reserve reported Wednesday. Retailers were generally satisfied with post-holiday sales and even benefited from ...

Sales, profit rebound as American Eagle Outfitters returns to roots

By Chris Fleisher
American Eagle Outfitters stabilized sales in a tough market for teen apparel and is upbeat despite not having had a permanent CEO for more than a year. The South Side-based retailer introduced new spring apparel in January that helped it avoid ...

Esmark sues Slovakian businessman for $100M, alleges sabotaged deal

By Alex Nixon
Esmark Inc. is seeking more than $100 million in damages from a Slovakian businessman it accuses of sabotaging the company’s deal to take over a former U.S. Steel Corp. mill in Serbia. A lawsuit Esmark filed Wednesday in federal court ...

Supreme Court split on Obamacare subsidies

By Adam Smeltz
Sharp divisions fractured the Supreme Court on Wednesday over the latest challenge to President Obama’s landmark health care law, energizing critics who want the justices ...

Drilling group says Wolf overestimates expected tax revenue

By Bobby Kerlik
Revenue from Gov. Tom Wolf’s proposed natural gas extraction tax — slated to pay for millions in education funding — could fall far short of projections because his estimates are based on higher gas prices in other parts of the ...

Spirit Airlines puts Chicago on its flight path

By Joe Napsha
Daily nonstop Spirit Airlines flights beginning May 7 from Arnold Palmer Regional Airport to Chicago are being touted by county and airport officials as a boost to the region’s economy. “This is all about economic development,” said Westmoreland County Commissioner Charles ...

Exxon CEO: Low oil prices here to stay

By The Associated Press
NEW YORK — Exxon Mobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth. “People need to kind of settle in for a ...

McDonald’s to ban chicken suppliers from antibiotics used in human medicine

By The Associated Press
NEW YORK — McDonald’s says it plans to require chicken suppliers to stop using antibiotics important to human medicine within two years. The company says its ...

Transcripts show Fed’s fear of big bank aid

By The Associated Press
WASHINGTON — As the Great Recession inflicted worsening damage on the economy, the Federal Reserve struggled during 2009 to determine the best corrective steps to pursue. Transcripts of their meetings released Wednesday showed that the Fed’s policymakers feared the precedents ...

Labor Department, nonprofit studies urge workplace injury system reform

By The Washington Post
WASHINGTON — There’s a good news/bad news situation for occupational injuries in the United States: Fewer people are getting hurt on the job. But those who do are getting less help. That’s according to a couple of reports out Wednesday on ...

Stocks fall further from record highs

By The Associated Press
NEW YORK — Stocks sank Wednesday, pulling indexes further below record highs hit earlier in the week. The drop was modest but broad: Nine of the 10 sectors in the Standard & Poor’s 500 index lost ground. Given the market’s recent ...

Impact fees garner support from state community leaders

By David Conti
Community leaders who fear the potential impacts of Gov. Tom Wolf’s severance tax proposal on natural gas asked lawmakers Tuesday to maintain per-well fees that have allowed for hundreds of millions of dollars’ worth of municipal improvements. Wolf vowed to maintain ...

Concurrent Technologies focuses on developing batteries for renewable energy, electric cars

By David Conti
If the United States is going to reach its goal of putting 1 million electric cars on the road or using renewables to power 25 ...

Business Briefs

Roundup: Walnut Capital to spend $14M on to build East Liberty apartments; US services firms grow at faster pace in February; more

From Staff and Wire Reports
Walnut Capital  to spend $14M  on apartments A six-story luxury apartment building planned in East Liberty will use the facades of historic buildings slated for demolition, a Shadyside developer said Wednesday. Walnut Capital Partners is spending $14 million — ...

Business Columnists

Jack Markowitz

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The right idea for minimum wage boosts

The right way to raise minimum wages is how Wal-Mart is doing it. That is, competitively, strategically, and on its …

John Browne

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Yellen shuns Fed audit

Three important issues emerged during Federal Reserve Chairwoman Janet Yellen’s testimony last week before the Senate Banking Committee: Interest rate …

John Dorfman

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SodaStream, Abercrombie land on New Lows list

Bottom-fishing for stocks on the New Lows list can be fruitful. On the list are stocks that are trading at …

Chris Posti

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To find best career path, start with a book, look to past

The number of snowflakes covering my front lawn on a wintry day is roughly equivalent to the number of people …

Kim Komando

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Komando: Upgrading to a new gadget

Upgrading to a new gadget always feels like Christmas morning, but it also leaves you with an old smartphone or …

Real Estate

Every castle deserves a fitting crown

By Tribune-Review
At the risk of exposing my lack of sophistication as a teenager, I’d like to share with you a story. I was 17 the first time I ever heard of crown molding. I don’t think I’ll ever forget the ...

Business Gallery

Business Gallery, March 1, 2015

By Tribune-Review