Business category, Page 105
Deep dive into Meta’s algorithms shows that America’s political polarization has no easy fix
WASHINGTON — The powerful algorithms used by Facebook and Instagram to deliver content to users have increasingly been blamed for amplifying misinformation and political polarization. But a series of groundbreaking studies published Thursday suggest addressing these challenges is not as simple as tweaking the platforms’ software. The four research papers,...
Federal Reserve keeps raising rates. That means it’s harder to get a car loan.
NEW YORK — The Federal Reserve’s decision Wednesday to raise its benchmark rate for the 11th time, by a quarter-point, could once again send ripple effects across the economy. Mortgage rates, which have surged since the Fed began lifting rates in March 2022, may now rise further. So could rates...
Bedford Dwellings to receive $62.5M makeover in Hill District redevelopment project
A $62.5 million redevelopment project that will bring new apartments and townhouses to Pittsburgh’s Hill District is moving forward. The Bedford Dwellings project, approved this week by the city’s Planning Commission, is being led by the Housing Authority of the City of Pittsburgh and Pittsburgh-based Trek Development Group. Plans include...
Elon Musk wants to turn tweets into X’s — but changing language is not quite so simple
SAN FRANCISCO — Elon Musk may want to send “tweet” back to the birds, but the ubiquitous term for posting on the site he now calls X is here to stay — at least for now. For one, the word is still plastered all over the site formerly known as...
After raising prices sharply, corporate profits get squeezed as inflation eases
NEW YORK — The squeeze is on for profits at big companies. After enjoying a strong run where they could keep raising prices to boost their profits, companies are now stuck in a vise. On one end, revenue is under pressure as the global economy remains fragile. On the other,...
John Dorfman: Investing hints from 7 investment masters
You can’t teach genius. But you can learn a lot from observing geniuses at work. Here are a few nuggets of investment wisdom from seven master investors. John Neff The manager of the Windsor Fund for three decades, John Neff was a quintessential value investor. “To us, ugly stocks were...
New apartment building coming to Pittsburgh’s Uptown
Plans for a new apartment building in Pittsburgh’s Uptown received unanimous approval Tuesday from the city’s Planning Commission. The Standard on Fifth will be located on what is now a vacant site at Fifth Avenue and Moultrie Street. The four-story apartment building will house 51 apartments and include a fitness...
Car buyers bear a heavy burden as Federal Reserve keeps raising rates
NEW YORK — The Federal Reserve’s expected move Wednesday to raise interest rates for the 11th time could once again send ripple effects across the economy. Mortgage rates, which have surged since the Fed began lifting rates in March 2022, could rise further. So could rates on credit cards and...
Life sciences company brings corporate headquarters to Lawrenceville
A drug development company is sinking its roots further into the region, moving its corporate headquarters to Lawrenceville after expanding its laboratory in the neighborhood. Predictive Oncology Inc., a publicly traded company that uses artificial intelligence and machine learning to accelerate oncology drug discovery, recently expanded its footprint to nearly...
Unexplained outage at Chase Bank leads to interruptions at Zelle payment network
An unexplained outage at Chase Bank led to interruptions for users of the Zelle payment network, who took to social media to complain. Zelle said on Twitter that its network is functioning normally and pointed a finger at Chase, saying the bank was experiencing trouble with payment processing. “The rest...
Embattled Pittsburgh Mills mall in Frazer could go to sheriff’s sale
The Pittsburgh Mills mall in Frazer could go to sheriff’s sale this fall. According to court filings, a notice of sheriff’s sale for real estate that includes the mall property will be held at 9 a.m. Oct. 2 in the Allegheny County Courthouse. Filings indicate Pitt Galleria Reality LLC, Pitt...
Upper Lawrenceville development would renovate old fire house, bring mixed-rate housing and retail
A proposed development in Pittsburgh’s Upper Lawrenceville would revitalize an old fire house and include mixed-income housing and a dog park. Illinois-based Albion Residential is looking to develop a Butler Street property by bringing the former fire house into reuse and constructing a new 354,000-square-foot apartment complex at a site...
Humane Animal Rescue of Pittsburgh workers seek to unionize
About 100 workers at the Humane Animal Rescue of Pittsburgh are seeking to unionize with the United Steelworkers union. It’s the latest in a series of efforts to organize workplaces in the region and nationally at a time when more workers are going on strike — or have been on...
UPS reaches contract with 340,000 unionized workers, averting potential strike
NEW YORK — UPS has reached a contract agreement with its 340,000-person strong union Tuesday, averting a strike that had the potential to disrupt logistics nationwide for businesses and households alike. The agreement was announced after UPS and the Teamsters came back to the negotiating table Tuesday to talk over...
Twitter turning into X is set to kill billions in brand value
It’s rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It’s rarer still for the owner of such a brand to announce plans to intentionally destroy it. On Sunday, in the middle of a quiet summer weekend, Elon Musk decreed that Twitter’s product name...
U.S. consumer confidence jumps to a 2-year high as inflation eases
WASHINGTON — U.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased and the American economy continued to show resilience in the face of dramatically higher interest rates. The Conference Board, a business research group, said its consumer confidence index rose to 117...
Santa Barbara’s daily, one of California’s oldest, stops publishing after owner declares bankruptcy
SAN FRANCISCO — The Pulitzer Prize-winning Santa Barbara News-Press, one of California’s oldest newspapers, has ceased publishing after its owner declared the 150-year-old publication bankrupt. The newspaper became an online-only publication in April. But its last digital edition was posted Friday when owner Wendy McCaw filed for bankruptcy. Managing editor...
‘There’s a mismatch’: Office vacancies continue to climb in Pittsburgh region
The lights have gone out in more office buildings in the Pittsburgh area, resulting in a new record high for vacancies in the region. It’s a continuing trend that’s throwing the local market out of whack as everyone figures out what a post-pandemic workplace should be. “With the office market...
IRS is ending unannounced visits to taxpayers to protect worker safety and combat scammers
WASHINGTON — The Internal Revenue Service said Monday it is ending its decades-old policy of making unannounced home and business visits, in an effort to help keep its workers safe and to combat scammers who pose as IRS agents. Effective immediately, revenue agents will no longer make unplanned visits to...
Elon Musk reveals new X logo to replace Twitter’s blue bird
LONDON — Goodbye, Twitter. Hello, X. Elon Musk has unveiled a new “X” logo to replace Twitter’s famous blue bird as he follows through with a major rebranding of the social media platform he bought for $44 billion last year. The X started appearing at the top of the desktop...
A UPS strike could be just around the corner. Here’s what you need to know
NEW YORK — The clock is ticking. As the deadline to reach a new contract nears, a potential UPS strike feels closer than ever. Negotiations broke down earlier this month and unionized workers have been holding rallies and practice pickets across the country. The Teamsters, which represent more than half...
Musk says Twitter to change logo to X from the bird. Changes could come as early as Monday.
NEW YORK — Elon Musk said Sunday that he plans to change the logo of Twitter to an “X” from the famous blue bird, marking what would be the latest big change since he bought the social media platform for $44 billion last year. In a series of posts on...
Beaver County communities to receive $5 million from Shell cracker settlement
Beaver County will receive $5 million as part of a settlement over air quality violations at Shell Chemical Appalachia’s cracker plant to use for community projects. The funding is due to a consent order announced in May in which Shell Chemicals Appalachia agreed to pay nearly $10 million for air...
Amazon palm-payment technology expanding to all Whole Foods Markets nationwide
Amazon One is already in use at more than 200 Whole Foods Markets in the United States. By the end of the year, Amazon said the palm payment technology will be available at all Whole Foods locations nationwide — more than 500 stores. In the Pittsburgh region, Whole Foods Markets...
Wall Street heads for another winning week as stocks steady
NEW YORK — Wall Street is steadying Friday and clawing back some of its tech-driven losses from a day before, keeping it on track for another winning week. The S&P 500 was 0.2% higher in early trading and on pace for its eighth winning week in the last 10. The...
