Business category, Page 127
Pittsburgh Regional Transit offering bulk transit passes in pilot program
Pittsburgh Regional Transit is accepting applications from businesses and multifamily, residential buildings for its new Bulk Pass Pilot Program, which would provide transit passes for employees or tenants at significant discounts. The pilot would allow businesses and multifamily residential buildings that are located within a half-mile of PRT service to...
Autonomous Zamboni developed by Carnegie Mellon students
Rathin Shah, who grew up in India, had never been to a professional hockey game until the Pittsburgh Penguins invited him and four other graduate student researchers to PPG Paints Arena for an unlikely reason. There was plenty of fast-paced action in the game between the Penguins and Florida Panthers...
First National Bank wants to take a spot on Pittsburgh’s skyline
First National Bank plans to join the likes of UPMC, Highmark, BNY Mellon and other businesses with brand recognition dotting the Pittsburgh skyline. FNB wants to put its initials and logo on the 26-story skyscraper under construction at the former Civic Arena site in the Lower Hill District, according to...
ATI sees strong finish to 2022, full-year sales near $4 billion
ATI had a strong finish in 2022 with fourth-quarter sales of $1 billion, company officials announced Thursday. It is an increase of more than 30% over the same time period in 2021. “We’re executing expertly against robust markets,” CEO Bob Wetherbee said in a release by the company, which moved...
Average long-term mortgage rate falls for 4th straight week
The average long-term U.S. mortgage rate declined for the fourth week in a row, a sign of relative stability that could potentially open the door for some prospective homebuyers to get back in the market. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell...
U.S. filings for jobless aid lowest since April
U.S. applications for jobless aid fell again last week to their lowest level since April, further evidence that the job market has withstood aggressive rate hikes by the Federal Reserve as it attempts to cool the economy and bring down inflation. Applications for jobless aid in the U.S. for the...
Sheetz halts controversial ‘smile policy’
Sheetz said it has ended its controversial policy that people with visible dental problems should not be hired. Dubbed the “smile policy,” the convenience store chain’s employee handbook previously stated that “applicants with obvious missing, broken, or badly discolored teeth (unrelated to a disability) are not qualified for employment with...
Stocks hit summer highs as Fed sees progress on inflationVideo
NEW YORK — Wall Street climbed Wednesday to its best level since the summer following the latest hike to interest rates by the Federal Reserve, which said it’s finally seeing improvements in inflation. The S&P 500 rallied back from an early 1% loss to rise 1% after Fed Chair Jerome...
Fed lifts rate by quarter-point and signals more hikes aheadVideo
WASHINGTON — The Federal Reserve extended its fight against high inflation Wednesday by raising its key interest rate by a quarter-point, its eighth hike since March. And the Fed signaled that even though inflation is easing, it remains high enough to require further rate hikes. At the same time, Chair...
Job market still hot, December openings rise to 11 million
WASHINGTON — U.S. job openings rose to 11 million in December, delivering a setback to the Federal Reserve’s effort to cool a hot job market. Openings were up from 10.44 million in November and were the highest since July, according to data released Wednesday by the Labor Department. Economists had...
Google has the next move as Microsoft embraces OpenAI buzz
NEW YORK — Before the artificial intelligence tool ChatGPT was unleashed into the world, the novelist Robin Sloan was testing a similar AI writing assistant built by researchers at Google. It didn’t take long for Sloan, author of the bestseller “Mr. Penumbra’s 24-hour Bookstore,” to realize that the technology was...
Mad Mex in Oakland closes because of staffing challenges, lease situation
Despite being surrounded by thousands of college students, Mad Mex in Oakland could not find enough employees to remain open. After nearly 30 years in business on the corner of Atwood and Bates Streets, the restaurant has closed. “I can’t tell you how many people have said to me, ‘There...
Morning Roundup: Bed Bath & Beyond closing 3 Pittsburgh locations
Here are some of the latest news items from this morning, Wednesday, Feb. 1, 2023: 3 Pittsburgh-area Bed Bath & Beyond stores closing Three Pittsburgh-area Bed Bath & Beyond stores are set to close, further reducing the home goods retailer’s footprint in the area, the retail chain announced this week....
John Dorfman: Don’t be a stranger to non-U.S. stocks
Most economists predict a recession for the U.S. in 2023. No one is good at foretelling the future, but the recession threat may be one reason to consider adding some non-U.S. stocks to your portfolio. Here are five foreign stocks I currently like. All of them trade in the U.S.,...
Pittsburgh region’s unemployment rate flat at 4%
The Pittsburgh region’s unemployment rate held steady in December at 4%, as more people are both looking for work and finding it, according to data released Tuesday by the state Department of Labor & Industry. It was the second consecutive month that the jobless rate in the seven-county area was...
Philips plans to cut another 6,000 jobs globally; local impact unclear
Dutch health technology company Philips said it will lay off another 6,000 workers globally. The company, which has several locations Western Pennsylvania, said the move is an effort to restore profitability and improve product safety following a recall of respiratory devices, according to Reuters. Half of the job cuts will...
Boeing bids farewell to an icon, delivers last 747 jumbo jet
SEATTLE — Boeing bids farewell to an icon on Tuesday: It’s delivering its final 747 jumbo jet. Since its first flight in 1969, the giant yet graceful 747 has served as a cargo plane, a commercial aircraft capable of carrying nearly 500 passengers, a transport for NASA’s space shuttles, and...
U.S. consumer confidence lags as 2023 gets underway
American consumers are kicking off 2023 a bit less confident than they were at the end of last year as inflation and the possibility of a recession loom. The Conference Board reported Tuesday that its consumer confidence index slipped to a still-optimistic 107.1 in January, down from 109 in December....
Exxon booked record profits in 2022 as energy prices soared
NEW YORK — Exxon Mobil posted record annual profits in 2022 as Americans struggled with high prices for gasoline, home heating and consumer goods. The oil giant brought in $12.75 billion in profits in the fourth quarter, bringing annual net income to $55.7 billion. That exceeds Exxon’s previous record of...
U.S. probes complaints of parts flying off of Ford Explorers
DETROIT — The U.S. government’s road safety agency is investigating complaints that windshield trim panels can fly off of Ford Explorers while they’re traveling at highway speeds. The National Highway Traffic Safety Administration says it has 164 complaints about the trim pieces detaching on 2011 through 2019 Explorer SUVs. The...
Wall Street climbs to add more to its strong JanuaryVideo
NEW YORK — Wall Street closed out a strong January with more gains on Tuesday, ahead of what many investors hope will be one of the Federal Reserve’s last hikes to interest rates for a while. Markets got a boost after a report showed that that growth for workers’ pay...
Justice Department seeks Tesla automated driving documents
The U.S. Justice Department has requested documents from Tesla Inc. related to its Autopilot and “Full Self-Driving” features, according to a regulatory filing. “To our knowledge no government agency in any ongoing investigation has concluded that any wrongdoing occurred,” Tesla said in the filing Tuesday with the Securities and Exchange...
Millennial Money: 6 ways to move out of your parents’ house
Nearly a quarter of millennials (22%) are living with their parents, and more than half of those living with them (55%) made the move in 2022, according to a December survey from PropertyManagement.com. Many said they’re back home due to high rent, money concerns or job losses — and 9...
Architecture of shuttered Westinghouse lab in Churchill to get closer look at webinar
An aerial view of the former George Westinghouse Research and Technology Park in Churchill reveals a nod to the company’s early ties to the railroad industry. The corporate campus was designed to look like a locomotive. But workers at the now-empty Churchill site, which opened on 150 acres in the...
IMF upgrades its outlook for the global economy in 2023
WASHINGTON — The outlook for the global economy is growing slightly brighter as China eases its zero-covid policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. That’s the view of the International Monetary Fund, which now expects...
