Business category, Page 125
Fowl-free: McDonald’s debuts plant-based McNuggets
McDonald’s McNuggets are going fowl-free. The Chicago-based fast food giant is introducing plant-based McNuggets next week. Germany will be the first market to get them. McPlant Nuggets — made from peas, corn and wheat with a tempura batter — are the second product McDonald’s has co-developed with Beyond Meat, an...
Trump pick David Malpass stepping down as head of the World Bank
WASHINGTON — David Malpass is stepping down as president of the World Bank, nearly four years after former President Donald Trump nominated him to run the 189-nation agency. The anti-poverty lender said Wednesday that Malpass would be leaving by June 30. His five-year term was due to expire in April...
Retail sales jump as Americans defy inflation, rate hikes
WASHINGTON — America’s consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy’s resilience in the face of higher prices and multiple interest rate hikes by the Federal Reserve. The government...
Northwest Bank to move to William Penn Place
Northwest Bank plans to relocate to 525 William Penn Place in Downtown Pittsburgh. The financial institution will move from 535 Smithfield St. this month. The long-term lease is for a 5,322-square-foot space on the 35th floor of the William Penn Place office building. “Our team is excited to relocate to...
Wall Street ends mixed after swerving on inflation report
NEW YORK — Several sharp reversals for stocks left Wall Street mixed on Tuesday after a report showed inflation is continuing to slow, but perhaps not as quickly or as smoothly as hoped. The S&P 500 finished the day virtually where it started, edging down by less than 0.1%, after...
U.S. inflation slows to 6.4%, but price pressures re-emergeVideo
WASHINGTON — The pace of consumer price increases eased again in January compared with a year earlier, the latest sign that the high inflation that has gripped Americans for nearly two years is slowly easing. At the same time, Tuesday’s consumer price report from the government showed that inflationary pressures...
Tesla workers in New York launch campaign to organize union
NEW YORK — Tesla workers at a factory in New York are launching a campaign to organize a union in New York. In a letter to management Tuesday, the Tesla Workers United organizing committee said that the employees are seeking a voice on the job at the plant in Buffalo...
Ford to cut 3,800 jobs in Europe amid shift to EV future
Ford Motor Co. plans to cut 3,800 jobs in Europe, a move the Dearborn automaker announced Tuesday as part of a broader effort to revitalize its Europe business amid “rapidly changing market conditions” and an increasingly competitive electric-vehicle market. The company plans to downsize its European engineering footprint by cutting...
Do hybrid schedules create the perfect work environment?
Balancing working from the dining room table with reporting to the office likely will be sticking around for many employees, their bosses say. Pennsylvania Gov. Josh Shapiro recently announced that about 2,300 state government employees, many of whom had been working remotely, will be reporting to the office at least...
Ford to build $3.5B electric vehicle battery plant in Michigan
DETROIT — Ford Motor Co. plans to build a $3.5 billion factory in Michigan that would employ at least 2,500 people to make lower-cost batteries for a variety of new and existing electric vehicles. The plant, to be built on land being readied for industrial development about 100 miles west...
Stocks rally ahead of hotly anticipated inflation reportVideo
NEW YORK — Wall Street rose Monday as traders made their final moves ahead of a report that could show whether inflation is cooling in the right way or setting the market up for worse pain. The S&P 500 climbed 1.1% in anticipation of Tuesday’s report on inflation at the...
Twitter’s plan to charge for crucial tool prompts outcry
In the aftermath of the devastating earthquake in Turkey and Syria, thousands of volunteer software developers have been using a crucial Twitter tool to comb the platform for calls for help — including from people trapped in collapsed buildings — and connect people with rescue organizations. They could lose access...
Dubai again plans for flying taxi takeoff, this time by 2026
DUBAI, United Arab Emirates — Dubai again is planning for the takeoff of flying taxis in this futuristic city-state on the Arabian Peninsula, offering its firmest details yet Monday for a pledged launch by 2026. Since 2017, the commercial capital of the United Arab Emirates has offered promises to launch...
NerdWallet: Family budgeting tips that actually work
When Tom Snyder coaches people in his church about how to budget, he starts by encouraging them to track their spending. “If we don’t track, we don’t know when to stop spending,” he says. The retired engineer and financial coach in Grand Rapids, Michigan, adds that it’s easy to be...
Super Bowl ads use nostalgia, star power and light laughsVideo
NEW YORK — Advertisers bet big that viewers were turning to the Super Bowl for a comforting escape, and delivered a series of advertisements that relied on familiar celebrity faces, light humor, and plenty of cuddly dogs. This wasn’t a year for edgy humor or experimentation. After the global pandemic,...
IRS won’t tax most relief payments made by states last year
The IRS announced Friday that most relief checks issued by states last year aren’t subject to federal taxes, providing 11th hour guidance as tax returns start to pour in. A week after telling payment recipients to delay filing returns, the IRS said it won’t challenge the taxability of payments related...
Highmark fined $205,000 for violations over insurance claims
The Pennsylvania Insurance Department found that Pittsburgh insurer Highmark Inc. violated rules regarding the payment of claims, as well as rules related to mental health and substance use disorder claims. The department, which announced the findings this week, was part of a routine examination of all insurers in the commonwealth....
Highmark says data of 300,000 members breached
Health care giant Highmark Inc. said the data of about 300,000 of its members was compromised in a recent email scheme. The incident was discovered Dec. 15, Highmark said Friday. The breach occurred between Dec. 13 and Dec. 15 when “an employee was sent a malicious phishing email link that...
Super Bowl ads keep it light by using nostalgia and stars
NEW YORK — Super Bowl ads are more than just breaks between gameplay during the biggest sporting event of the year: they offer a glimpse of the country’s zeitgeist, along with how major industries are faring. This year, crypto ads and automakers are advertising less since those industries are facing...
Wall Street sinks as early rally fizzles amid higher yieldsVideo
NEW YORK — Stocks dropped Thursday following another mixed set of profit reports from companies, as rising expectations for interest rates keep up the pressure on Wall Street. The S&P 500 fell 0.9%, while the Dow Jones Industrial Average lost 249 points, or 0.7%, and the Nasdaq composite sank 1%....
Liquor before beer: Spirits beat brews in new market data
LOUISVILLE, Ky. — Producers of spirits have new bragging rights in the age-old whiskey vs. beer barroom debate. New figures show that spirits surpassed beer for U.S. market-share supremacy, based on supplier revenues, a spirit industry group announced Thursday. The rise to the top for spirit-makers was fueled in part...
Peltz, citing changes at Disney, ends push for seat on board
Activist investor Nelson Peltz has called off a proxy fight with Disney one day after newly returned CEO Bob Iger announced a major restructuring of the company that includes thousands of job cuts. Peltz phoned into CNBC on Thursday to say that his firm, Trian Fund Management, got everything it...
More Americans apply for jobless benefits last week
More Americans filed for jobless benefits last week, but layoffs remain historically low despite attempts by the Federal Reserve to cool the economy, and hiring, to bring down inflation. Applications for jobless aid in the U.S. for the week ending Feb. 4 rose by 13,000 last week to 196,000, from...
Twitter scrambles to fix meltdown as many unable to tweet
Many Twitter users found themselves unable to tweet, follow accounts or access their direct messages on Wednesday as the Elon Musk-owned platform experienced a slew of widespread technical problems. “Twitter may not be working as expected for some of you. Sorry for the trouble. We’re aware and working to get...
Disney to cut 7,000 jobs in Iger’s company ‘transformation’
LOS ANGELES — The Walt Disney Co. said Wednesday it will cut about 7,000 jobs as part of a “significant transformation” announced by CEO Bob Iger. The job cuts amount to about 3% of the entertainment’s global workforce and were announced Wednesday after Disney reported quarterly results that topped Wall...
