Business category, Page 128
FAA adds safeguards to U.S. flight system to prevent new outages
The U.S. government has added new protections to the aviation notice system that led to thousands of disruptions earlier this month in an attempt to prevent such failures in the future, the Federal Aviation Administration told lawmakers. A federal manager must now be present anytime a contractor works with the...
Ford cuts price on Mustang Mach-E after Tesla trims pricesVideo
DETROIT — Ford is cutting prices on its Mustang Mach-E electric SUV by as much as $6,000 just weeks after market leader Tesla took similar steps. The Detroit automaker is increasing production of the Mach-E this year and is taking advantage of streamlined costs to reduce prices across the board,...
Stocks sink as markets brace for big week with Fed, earnings
NEW YORK — Stocks sank Monday as Wall Street prepped for a week full of potentially market-moving events, from decisions on interest rates around the world to earnings reports from the biggest U.S. companies. The S&P 500 dropped 1.3%, giving back some of the gains that had carried it last...
As pandemic tax credits fade, prepare for shrinking tax refunds
The clock has started ticking for people to file their tax returns but this year, there’s one thing to brace for — smaller refunds. That’s because many of the benefits put in place to help people weather the pandemic — such as boosting the child tax credit and earned income...
China accuses Washington of abusing export controls
BEIJING — China’s government on Monday criticized U.S. controls on technology exports as a trade violation, after Japan and the Netherlands agreed to join Washington in limiting Beijing’s access to materials to make advanced processor chips they say can be used in weapons. The Foreign Ministry didn’t mention the latest...
Elon Musk’s mysterious ways on display in Tesla tweet trial
SAN FRANCISCO — Elon Musk’s enigmatic personality and unconventional tactics are emerging as key exhibits in a trial revolving around one of his most polarizing pursuits — tweeting. The trial, centered on a pair of tweets announcing Musk had obtained the money to take Tesla private in 2018, reeled the...
Musk, top Biden aides meet in Washington, talk electric cars
WASHINGTON — Tesla CEO Elon Musk and a pair of top aides to President Joe Biden met in Washington on Friday to discuss the electric vehicle industry and the broader goal of electrification. Musk and Biden did not meet, White House press secretary Karine Jean-Pierre said. The two haven’t had...
Lots of sound and fury on U.S. debt, but not a crisis — yet
WASHINGTON — For all the sound and fury about raising the nation’s debt limit, most economists say federal borrowing is not at a crisis point … at least not yet. The national debt is at the core of a dispute about how to raise the government’s legal borrowing authority, a...
Judge finds Post-Gazette broke labor law, orders newspaper to bargain with striking workers
A judge ruled Thursday that the Pittsburgh Post-Gazette violated federal law by bargaining in bad faith with its journalists union and unilaterally implementing working conditions after breaking off negotiations for a new contract. Judge Geoffrey Carter of the National Labor Relations Board ordered the Post-Gazette to end the impasse it...
U.S. inflation and consumer spending cooled in December
WASHINGTON — The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed’s series of interest rate hikes are slowing the economy. Friday’s report from the Commerce Department showed that prices rose 5% last month from a year earlier, down...
Murrysville company FlexScreen begins licensing its technology with automated manufacturing line, wins ‘BIG’ awardVideo
Eight years ago, Joe Altieri was in his Plum garage trying to perfect a new, flexible, easy-to-install window screen. Today, he is the owner of FlexScreen, a multimillion-dollar Murrysville company that earned an investment from “Shark Tank” host Lori Greiner. It opened its seventh manufacturing facility last June in New...
Chipotle looks to hire 15,000 amid continuing labor shortage
Restaurants are beginning the new year with a recurring problem: labor shortages. Chipotle said Thursday it’s looking to hire 15,000 people in North America to ensure its stores are staffed up ahead of its busy spring season. Other chains are also looking for workers: Taco Bell has more than 25,000...
Wall Street climbs to hit best level in nearly eight weeksVideo
NEW YORK — Stocks rose Thursday to send Wall Street to its highest level in nearly eight weeks following reports suggesting the economy and corporate profits may be doing better than feared. The S&P 500 climbed 1.1% to clinch its highest finish since Dec. 2. The Dow Jones Industrial Average...
How will we know if the U.S. economy is in a recession?
WASHINGTON — The second consecutive quarter of economic growth that the government reported Thursday underscored that the nation isn’t in a recession despite high inflation and the Federal Reserve’s fastest pace of interest rate hikes in four decades. Yet the U.S. economy is hardly in the clear. The solid growth...
Wall Street opens higher; Tesla jumps after strong results
NEW YORK — Stocks are opening higher on Wall Street as traders were able to find encouraging signs in some of the earnings reports that big U.S. companies are putting out. Tesla jumped 10% in the early going Thursday after reporting results that were better than analysts were expecting and...
Economy slowed but still grew at 2.9% rate last quarterVideo
WASHINGTON — The economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession. The estimate Thursday from the Commerce Department showed that the nation’s gross domestic product — the broadest gauge...
Conservative news network Newsmax dropped by DirecTV
Many right-wing media consumers got a surprise Wednesday morning when they turned on their televisions to find Newsmax was no longer on the air. The far-right-leaning cable station was cut from DirecTV’s lineup at midnight after negotiations between the satellite service and the media outlet fell apart. “On multiple occasions,...
FDA food safety official resigns, cites structural issues
The federal Food and Drug Administration’s top food safety official resigned Wednesday, citing concerns about the agency’s oversight structure and the infant formula crisis that led to a nationwide shortage. Frank Yiannas, the deputy commissioner for food policy and response since 2018, told FDA Commissioner Dr. Robert Califf in an...
Tax season already? Some tips for avoiding stress and scams
NEW YORK — For many people filing U.S. tax returns — especially those doing it for their first time — it can be a daunting task that’s often left to the last minute. But if you want to avoid the stress of the looming deadline, start getting organized as soon...
Goldman Sachs signals partial retreat from consumer banking
NEW YORK — Goldman Sachs no longer wants to be the bank for everyone. The storied investment bank spent eight years attempting to expand its business beyond corporations and the wealthy. But in recent months, Goldman has signaled a partial retreat from those efforts by scrapping plans for a checking...
Why do so many older adults choose Medicare Advantage?
In 2022, 48% of Medicare beneficiaries were enrolled in Medicare Advantage plans instead of original Medicare, and experts predict that number will be higher in 2023. Medicare Advantage plans are offered by private insurers and bundle Medicare benefits in a way many people find appealing — but they also limit...
Murdoch pulls plug on possible merger of News Corp., Fox
NEW YORK — Rupert Murdoch has pulled the plug on a proposal to bring back together his News Corp. and Fox Corp., saying the merger isn’t coming at the right time for shareholders. In similar statements Tuesday, the companies said their boards received letters from Murdoch withdrawing the plan. “Mr....
John Dorfman: Market following classic January playbook, so far
So far this year, the stock market is doing exactly what market lore says it should. According to tradition, four things are true about January: • The market is likely to rise. • Small stocks will excel. • Last year’s losers will rebound. • As January goes, so will go...
Strip District development with nearly 300 apartments, dozens of townhouses earns approval
Plans for a Strip District development with nearly 300 apartments and dozens of townhouses are moving forward. Pittsburgh’s Planning Commission approved plans Tuesday for The Brickworks Residential Development. It includes eight buildings on a 3.45-acre lot at 2121 Smallman St. Plans call for two six-story apartment buildings with 114 rental...
Justice Department sues Google over digital advertising dominance
WASHINGTON — The Justice Department and several states sued Google on Tuesday, alleging that its dominance in digital advertising harms competition. The government alleges that Google’s plan to assert dominance has been to “neutralize or eliminate” rivals through acquisitions and to force advertisers to use its products by making it...
