Business category, Page 114

Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on...

Twitter has removed the verification check mark on the main account of The New York Times, one of CEO Elon Musk’s most despised news organizations. The removal comes as many of Twitter’s high-profile users are bracing for the loss of the blue check marks that helped verify their identity and...

It’s increasingly rare for a family-owned business to survive more than 90 years — rarer still when more than one family is involved. But Giant Eagle had done just that. Founded by five families in 1931, the O’Hara-based grocery chain grew into a regional powerhouse whose name has been enshrined...

Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission. The company, headquartered in Long Beach, California, will cut 675 jobs, about 85% of its workforce, according to a Friday...

WASHINGTON — Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress. The public push is part of a larger effort...

U.S. applications for jobless benefits rose last week but remain at historically low levels despite efforts by the Federal Reserve to cool the economy and the job market in its fight against inflation. Jobless claims in the U.S. for the week ending March 25 rose by 7,000 to 198,000 from...

WASHINGTON — During the pandemic, health care costs — usually a main driver of U.S. inflation — remained surprisingly stable, rising just about 2% annually even as prices for many goods and services soared more than three or four times that rate. But signs are emerging that medical inflation is...

A new entertainment option — one with your choice of zombies, pirates or space exploration — will be setting up shop in the Strip District. Virtual reality gaming company Sandbox VR is expected to move into The Terminal on Smallman Street this summer. The 5,571-square-foot location will be the first...

Southwest Airlines spent the early part of 2023 trying to make good after a historic meltdown resulted in more than 16,700 canceled flights during the 2022 holidays. The airline reimbursed passengers for the cost of alternative travel arrangements and sent many travelers additional loyalty points. Southwest wasn’t legally required to....

Electricity generated from renewables surpassed coal in the United States for the first time in 2022, the U.S. Energy Information Administration announced Monday. Renewables also surpassed nuclear generation in 2022 after first doing so last year. Growth in wind and solar significantly drove the increase in renewable energy and contributed...

NEW YORK — Stocks were mixed Tuesday as Wall Street regains some stability at the tail end of what’s been a turmoil-filled month. The S&P 500 dipped 6.26 points, or 0.2%, to 3,971.27, though the majority of stocks within the index rose. The Dow Jones Industrial Average slipped 37.83, or...

DETROIT — U.S. highway safety regulators have opened yet another investigation into problems with Teslas, this time tied to complaints that the seat belts may not hold people in a crash. The investigation by the National Highway Traffic Safety Administration covers an estimated 50,000 Model X SUVs from the 2022...

PORTLAND, Maine — Chipotle Mexican Grill has agreed to pay $240,000 to former employees as part of a settlement stemming from a complaint that the company violated federal law by closing a restaurant where workers wanted to unionize. Chipotle announced it was permanently closing its Augusta, Maine, location last year...

William Shatner, Monica Lewinsky and other prolific Twitter commentators — some household names, others little-known journalists — could soon be losing the blue check marks that helped verify their identity on the social media platform. They could get the marks back by paying up to $11 a month. But some...

NEW YORK — Some parts of Twitter’s source code — the fundamental computer code on which the social network runs — were leaked online, the social media company said in a legal filing on Sunday. According to the legal document, filed with the U.S. District Court of the Northern District...

The last McDonald’s in Downtown Pittsburgh is expected to go dark by the end of April. The fast food restaurant opted not to renew the lease at the spot on Stanwix Street just outside Market Square. Nick Nicholas, who owns the building that housed the Golden Arches for about 50...

ORLANDO, Fla. — Unions for service workers at Walt Disney World reached a tentative deal with the company on Thursday that would raise the starting minimum wage from $15 to $18 an hour in a pact that could set the basement for starting pay throughout central Florida’s sprawling tourism industry....

Starbucks’ new CEO Laxman Narasimhan says he plans to work a half-day shift once a month in one of the company’s stores in an effort to stay close to the company’s culture and customers. Narasimhan, who took the reins as CEO earlier this week, said in a letter to Starbucks’...

DETROIT — Ford Motor Co.’s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released Thursday as Ford rolled out a new way of reporting...

Military veterans looking for work can find some opportunities at a job fair Thursday. The nonprofit Disabled American Veterans and RecruitMilitary will host the Pittsburgh Veterans Job Fair from 11 a.m. to 3 p.m. at Acrisure Stadium, 100 Art Rooney Ave., on Pittsburgh’s North Shore. Veterans can meet more than...

NEW YORK— The Federal Reserve raised its key rate by another quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive. If you have money to save, you’ll probably earn a bit more interest...

WASHINGTON — The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system. “The U.S. banking system is sound and resilient,” the Fed said in...

Wall Street quietly drifted between small gains and losses early Wednesday ahead of a closely-watched decision by the Federal Reserve on whether to raise interest rates in the midst of a global banking crisis. Futures for the Dow Jones Industrials inched less than 0.1% higher, while futures for the S&P...