Business category, Page 139
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...
In a first, some CSX railroad workers to get paid sick leave
OMAHA, Neb. — Several thousand workers at CSX will soon get one of the things that pushed the U.S. railroad industry to the brink of a strike last fall: paid sick time. CSX announced a deal this week with two of its 12 unions, becoming the first major railroad to...
West Virginia’s $1 billion surplus sparks pitched tax battle
CHARLESTON, W.Va. — West Virginia’s Republican Senate leaders have answered the call to dramatically slash the state income tax by proposing to shave 15% off the rate at a cost of about $600 million, or more than half the state’s budget surplus. GOP senators described the plan as a safer,...
Another $237M granted to Honda battery plant project in Ohio
COLUMBUS, Ohio — Ohio’s privatized economic development office has finalized an agreement with Honda to infuse $237 million into development of a massive battery plant project that the Japanese automaker plans to use to transform the state into its North American electric vehicle hub. JobsOhio posted details of the package...
Goodwill of Southwestern Pennsylvania names new president and CEO
Goodwill of Southwestern Pennsylvania has named a new president and CEO. Monique McIntosh joins Goodwill from her most recent position as the chief program officer of YWCA Greater Pittsburgh. McIntosh is the first woman and person of color to lead the Lawrenceville-headquartered organization. “Intentional diversity, equity, inclusion and belonging efforts...
John Travolta, Adam Driver star in Super Bowl ads
NEW YORK — The Super Bowl is advertising’s biggest, glitziest stage. Big name advertisers from Netflix to Google are paying as much as $7 million for a 30-second spot during the big game on Sunday, in order to capture the attention of the roughly 100 million viewers who tune in...
Job fair targets workers as businesses boost wages to attract help
It’s the same mantra from many local employers looking for workers in the Alle-Kiski Valley: Where are they? However, some businesses, such as Filterbuy in New Kensington, have upped wages to attract new employees and make it easier for them to try different jobs and earn promotions. Filterbuy will be...
Wall Street rallies after swerving on Fed chair’s commentsVideo
NEW YORK — Wall Street rallied Tuesday after the Federal Reserve signaled last week’s stunningly strong jobs report won’t by itself change where interest rates are heading, as some investors had feared. The S&P 500 climbed 1.3% following a shaky day where stocks pinballed between losses and gains as Fed...
Big tech job cuts keep coming; Zoom latest to trim headcount
The tech industry started the year with a wave of job cuts, around 50,000 in January alone, and there doesn’t appear to be any let up this month. The computer maker Dell said this week that it’s cutting about 6,600 jobs. Large and small tech companies went on a hiring...
John Dorfman: PulteGroup and Group 1 Automotive show value, momentum
Just because a stock is cheap doesn’t mean it can’t get cheaper. That’s why some investors prefer stocks that show both value and momentum. Twice a year, I highlight a few such stocks in this column. Here are a few more. Each of these stocks has beaten the S&P 500...
Super Bowl gambling surging as states legalize it? You bet
ATLANTIC CITY, N.J. — As legal sports gambling proliferates, the number of Americans betting on the Super Bowl and the total amount they’re wagering is surging — although most of the action is still off the books. An estimated 1 in 5 American adults will make some sort of bet,...
Millennial Money: Should unmarried couples have one account?
When a couple joins financial forces, it’s typically so they can accomplish a joint savings goal or contribute to shared expenses, such as those that come from living together. This is a typical step for married couples, but more unmarried couples are taking the plunge to combine households: The number...
Group: 1-in-5 U.S. adults will bet on this year’s Super Bowl
ATLANTIC CITY, N.J. — A record 50.4 million American adults plan to bet on this year’s Super Bowl, wagering a total of $16 billion, the gambling industry’s national trade group predicted Tuesday. The American Gaming Association forecasts that 1-in-5 American adults will place a bet on Sunday’s NFL championship game...
Iconic Kings restaurant chain down to just 5 locations since 2015 sale
Kings Family Restaurants, an iconic Western Pennsylvania chain that once boasted 30 locations and created a darker counter-confection to its rival’s Smiley Cookie, has been whittled down to just five sites. Patrons who went to the Kings at 315 Hyde Park Road in Allegheny Township on Sunday learned the eatery...
Fox sells out Super Bowl ads: crypto out, alcohol in
NEW YORK — The hottest ticket in town for advertisers is officially sold out. Fox said Monday that in-game ads for Super Bowl LVII have all been sold. The big game between the Kansas City Chiefs and the Philadelphia Eagles takes place on Sunday. The Super Bowl is advertising’s biggest...
