Business category, Page 124
Stocks stall in mixed trading day after worst drop in months
NEW YORK — Stocks stalled in mixed trading on Wednesday, a day after falling to their worst loss since December, as Wall Street prepares for interest rates to stay higher for longer. The S&P 500 dipped 0.2% after drifting between small gains and losses through the day. The Dow Jones...
EQT donates oil and gas production equipment to Ukraine
Pittsburgh-based EQT Corp. said it has donated oil and gas production equipment to Ukraine’s largest natural gas producer. The equipment donation to JSC Ukrgasvydobuvannya will be used to restore damaged oil and gas production facilities and revive critical production in wartime conditions, EQT said. Russia’s invasion of Ukraine a year...
Amazon closes $3.9B buyout of health company One Medical
NEW YORK — Amazon said Wednesday it has closed its $3.9 billion acquisition of the primary care organization One Medical. The e-commerce giant has said the buyout, which was announced in July, is a key component of its growing health care business, which includes its online drugstore Amazon Pharmacy and...
Microsoft brings Bing chatbot to phones after curbing quirks
Microsoft is ready to take its new Bing chatbot mainstream — less than a week after making major fixes to stop the artificially intelligent search engine from going off the rails. The company said Wednesday it is bringing the new AI technology to its Bing smartphone app, as well as...
U.S. home sales fell again in January; prices edged higher
LOS ANGELES — The nation’s housing slump dragged on into January as home sales fell for the 12th consecutive month to the slowest pace in more than a dozen years. The National Association of Realtors said Tuesday that existing U.S. home sales fell to a seasonally adjusted annual rate of...
Wall Street tumbles, Dow loses nearly 700 on fears about high ratesVideo
NEW YORK — Stocks tumbled to their worst day in two months Tuesday, buckling under worries about higher interest rates and their tightening squeeze on Wall Street and the economy. The S&P 500 fell 2% for its sharpest drop since the market was selling off in December. The Dow Jones...
Home Depot says it will raise pay for U.S., Canadian workers
Home Depot said Tuesday it’s investing $1 billion in wage increases for its U.S. and Canadian hourly workers. The Atlanta-based home improvement chain said every hourly employee will get a raise starting this month. Starting pay will be at least $15 per hour in all markets. Home Depot is one...
Liz Weston: Make your credit cards less vulnerable to fraud
Last year, one of my family’s credit cards was used to rack up hundreds of dollars in bogus charges at Apple.com. Another card was compromised four times in a row, as thieves repeatedly charged merchandise and Uber rides. We ultimately got our money back, but repeated credit card fraud can...
Moderna, Cirrus Logic are Balance Sheet Powerhouses
On a hilltop in your town live two people. Joseph has an income of $400,000 a year but little savings. Francois has income of only $90,000 a year but $30 million in the bank. Who would you rather be? Any sane person would pick Francois. And yet, when they go...
Here are some online resources for information on Ohio train derailment
In the wake of the train derailment in East Palestine, Ohio, and the controlled burn of hazardous chemicals following that, many people are concerned about the health and environmental impact of the incident. The Norfolk Southern train was carrying hazardous chemicals when it derailed on Feb. 3, causing a fire...
Wabash piers have a new owner after 2 years on the market
The piers that once supported the Wabash Bridge across the Monongahela River in Pittsburgh have been sold. What happens next to the huge, stone towers that rise about 45 feet above the river between Downtown and the South Side remains to be seen. The all-cash sale was through a third-party...
UPMC Children’s Hospital to open new rehab facility
For some kids who suffer from brain trauma or spinal injury, one of the goals they may set for rehabilitation is being able to sit on the floor to play with their pet dog. The Zero G robot, a new supportive harness system for patients to practice walking, balance and...
Local entrepreneurs profit from advice offered through free programs
Bryan Krazel and Mark Williamson have taken control of their destinies. They both started new businesses last year — joining about 5 million other U.S. entrepreneurs who did the same thing, according to the Commerce Institute, a website that curates small-business statistics. Krazel had worked as a veterinarian for 25...
College, university endowments report losses on their most recent balance sheets
A year ago, the nation’s college and university endowments shook off a pandemic-driven market slump to score impressive growth to support their schools’ academic missions. This time, in fiscal year 2022, the story was the same, say two organizations that closely monitor those funds — only the order was reversed,...
DoorDash sees record orders and users, but losses grow
DoorDash said Thursday that it saw a record number of orders and active users in the fourth quarter as it expanded overseas and gained market share at home. The San Francisco-based delivery company said its monthly active users grew 28% to a record 34 million during the October-December period. DashPass...
Another disappointing inflation report thumps Wall Street
NEW YORK — Wall Street tumbled Thursday, and stocks fell by the most in four weeks as a result of more evidence that high inflation is staying stickier than expected. The S&P 500 dropped 1.4% after a report said inflation at the wholesale level slowed by less last month than...
YouTube CEO steps down, severing longtime ties to Google
Susan Wojcicki, a longtime Google executive who played a key role in the company’s creation, is stepped down as YouTube’s CEO after spending the past nine years running the video site that has reshaped entertainment, culture and politics. In an email to YouTube employees that was shared publicly Thursday, the...
Average long-term U.S. mortgage rate jumps to 6.32% this week
The average long-term U.S. mortgage rate jumped this week to its highest level in five weeks, bad news for home shoppers heading into the spring buying season. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate rose to 6.32% from 6.12% last week. The average...
Grantmakers of Western Pennsylvania names new leader
Grantmakers of Western Pennsylvania has named a new executive director. Amber Farr will take the reins of the Downtown-based professional membership association. The organization, founded in 1985, includes about 90 foundations, grantmaking public charities and corporate giving programs that offer educational programs, professional development and networking opportunities. “Amber Farr brings...
Evoqua to sell carbon reactivation operations to Belgium firm
Pittsburgh-based Evoqua Water Technologies is selling its carbon reactivation and slurry operations to a European company that specializes in industrial mobile filtration. The agreement with Desotec, headquartered in Belgium, includes the product line’s workforce and facilities in Darlington, Pennsylvania; Parker, Arizona; and Red Bluff, California. The deal, scheduled to close...
RIDC O’Hara shifts to adapt to post-pandemic life
Like many business corridors over the past several years, RIDC O’Hara is reshuffling as it readjusts to the world shaped by covid-19. “We haven’t been immune to what everyone else is going through,” said Michael Connor, vice president of office services at Hanna Langholz Wilson Ellis. “There has been a...
Weekly jobless applications fall again despite Fed rate push
Fewer Americans filed for jobless benefits last week despite efforts by the Federal Reserve to loosen the labor market with higher interest rates as it tries to cool the economy. Applications for jobless aid in the U.S. for the week ending Feb. 11 fell by 1,000 last week to 194,000,...
Group: Tesla workers fired after launching union efforts
Several employees at a Tesla gigafactory in Buffalo, N.Y., have been fired after launching union organizing efforts two days ago, according to Tesla Workers United. The group said in a statement on Thursday that workers received an email around 7 p.m. Wednesday updating them on a new policy that prohibits...
Stocks tick higher as hopes on economy joust rate fearsVideo
NEW YORK — Stocks ticked higher Wednesday on Wall Street as hopes for a resilient economy jousted with worries about inflation following a much stronger reading than expected on U.S. retail sales. The S&P 500 rose 0.3% after swinging from early losses to gains through the day. The Dow Jones...
Moderna won’t raise price on covid vaccine after pressure
Moderna said Wednesday it wouldn’t raise the price of its covid-19 vaccine after a public outcry. The about-face comes after the company was harshly criticized for planning to raise the cost of a vaccine dose about 400% — to the $110-to-$130 range. The company said the decision was made because...
