Business category, Page 144
Trump Organization fined $1.6 million for tax fraud
NEW YORK — Donald Trump’s company was fined $1.6 million Friday for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks — a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets. A fine was the only penalty...
Tesla cuts vehicle prices in bid to boost flagging demand
DETROIT — With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. The company dropped prices nearly 20% in the...
Pittsburgh ‘angel investment’ group delivers $300K to software company
An Oakland business incubator closed its initial investment — over $300,000 — in one of its first cohort of companies through its ‘angel investment’ program. Idea Foundry’s program, IF Ventures, said the company that received the infusion was one of five presented to a group of investors in September. Idea...
ExxonMobil publicly denied global warming for years but quietly predicted it
In perhaps one of the most cynically ironic twists in the field of climate science, new research suggests ExxonMobil may have had keener insight into the impending dangers of global warming than even NASA scientists but still waged a decades-long campaign to discredit research into climate change and its connection...
Wall Street ticks higher as hot U.S. inflation cools furtherVideo
NEW YORK — Wall Street closed higher Thursday after a report showed inflation slowed again last month, bolstering hopes the Federal Reserve may take it easier on the economy through smaller hikes to interest rates. While the report on U.S. inflation was clearly encouraging, stocks had already rallied earlier this...
UPMC to raise its minimum wage to $18 an hour
Health care giant UPMC announced it is raising minimum wage for entry-level positions to $18 an hour by 2025 for workers in Pittsburgh, Harrisburg and Williamsport. Starting wages at UPMC’s other sites in Western Pennsylvania, western Maryland and southwest New York will reach $18 an hour by 2026. “This is...
Carnegie Mellon administrator Rick Siger nominated by Gov.-elect Shapiro for cabinet post
A Carnegie Mellon University administrator and former Obama administration official is Gov.-elect Josh Shapiro’s pick to serve as secretary of the state Department of Community and Economic Development. Rick Siger, chief of staff and senior adviser to the president at Carnegie Mellon, will begin the job next Tuesday after Shapiro...
Wall Street wobbles following run-up into inflation report
NEW YORK — Wall Street is wobbling Thursday as it digests a report showing inflation slowed again last month, bolstering hopes the Federal Reserve may take it easier on the economy through smaller hikes to interest rates. The S&P 500 was 0.2% lower after flipping between small gains and losses...
U.S. consumer inflation eased again to 6.5% in December
WASHINGTON — Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation’s grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it. Inflation declined to 6.5% in December compared with a year earlier, the government...
Can U.S. avoid a recession? As inflation eases, optimism rises
WASHINGTON — For months, the outlook for the U.S. economy has been a mostly bleak one: Inflation hitting a four-decade high, consumer spending weakening, interest rates surging. Most economists penciled in a recession for 2023. An economic downturn is still possible. Yet in recent weeks, with inflation showing widespread signs...
Flight delayed or canceled? Experts share some advice
Thousands of travelers were stranded at U.S. airports Wednesday due to an hours-long computer outage. More than 1,100 U.S. flights were canceled and nearly 8,000 flights were delayed as of Wednesday afternoon, according to the tracking site FlightAware. Even though the Federal Aviation Administration was at fault for the outage,...
Pittsburgh International Airport passengers dealing with flood of flight cancellations, delays
Shortly before 10 a.m. Wednesday, Pittsburgh International Airport looked as though it was in a state of suspended animation. A computer glitch in a government system largely brought airlines to a halt, delaying or canceling thousands of flights across the U.S. earlier in the morning. The carousels in the normally...
CES 2023: 10 tech innovations that caught our eye
LAS VEGAS — From electric cars and boats to wireless TVs to the latest phones and tablets, there was a wide range of innovations on display at the CES tech show in Last Vegas last week. Some of it aimed to solve big real world problems. Some of it aimed...
How pay transparency may affect your job search or raise
Knowing if you’re being paid fairly for the work you do is a mystery shrouded in a lack of information. That may be changing, though, and pay transparency may be the catalyst. It’s a growing trend for companies to reveal what a job opening or current position pays — whether...
Soaring egg prices put pressure on consumers and businesses
OMAHA, Neb. — Chickens may not be able to fly very far, but the price of eggs is soaring. A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of...
Westmoreland plastics firm to expand to build parts for Amtrak Airo trains
Amtrak’s upgraded passenger trains, expected to be put into service later this decade, will have a Westmoreland County connection. Roechling Industrial Mt. Pleasant, a machine plastics company that has operated in the county since 1981, has been tapped to produce interior ceilings, door motor cases and other projects for the...
PennDOT gets $171M in grants to expand electric vehicle network
PennDOT is receiving $171.5 million in grants to expand its electric vehicle infrastructure. As part of the Bipartisan Infrastructure Law, PennDOT will receive the federal funds for electric vehicle charging infrastructure over the next five years. For the first round of funding, PennDOT has advanced appropriations of $25.4 million for...
In-N-Out Burger expanding east of Texas, 1st stop Tennessee
FRANKLIN, Tenn. — In-N-Out Burger announced Tuesday that it plans to open a corporate office in Tennessee and restaurants in and around Nashville by 2026, marking the company’s first expansion east of Texas. Gov. Bill Lee joined In-N-Out Burger owner and president Lynsi Snyder along with other government and company...
Millennial Money: 5 tactics to pay buy now, pay later debt
Chances are that your “buy now, pay later” bill from the holiday season will arrive soon or has already made its debut. If you’re not financially prepared to pay up, late fees or other charges can bury you deeper in debt. Circumstances can change over a matter of weeks through...
Powell: Fed has only narrow role to play on climate change
WASHINGTON — The Federal Reserve has only a limited role to play in combating climate change, Chair Jerome Powell said Tuesday, a stance that puts him at odds with environmental activists who have pushed central banks worldwide to take steps to restrict lending to energy companies. “Without explicit congressional legislation,...
Bill Gates considers West Virginia to expand nuclear energy efforts
GLASGOW, W.Va. — Bill Gates is looking to West Virginia as he plans for the next phase of his effort to reboot U.S. nuclear energy technology: powering the east coast. Microsoft co-founder Gates, who visited a closed down coal-fired plant Monday in Glasgow, W.Va., said he needs to see how...
Top leader departs Rite Aid; company names interim CEO
Rite Aid announced a change at the top on Monday. The company’s president and CEO, Heyward Donigan has departed Rite Aid, the company announced. “It has been a privilege to lead Rite Aid and its exceptional team,”Donigan said in a news release. “I am proud of all that we have...
Heinz Endowments names new president after national search
The Heinz Endowments named Chris DeCardy as its president following a national search after Grant Oliphant stepped down in February 2022. DeCardy, 56, is currently a consultant serving foundations and nonprofit organizations. He will move to Pittsburgh from Menlo Park, Calif., where he lives with his family. The Heinz family...
Companies tout environmental tech innovations at CES 2023
LAS VEGAS — The mottled bright green leaves of a pothos plant stood out against the flashy expanse of electric vehicles and smart products at the CES tech show in Las Vegas this year. This particular version of the familiar houseplant was bioengineered to remove 30 times the amount of...
Workers at refugee organization Hello Neighbor in Pittsburgh seek to unionize
Workers at the Larimer-based nonprofit Hello Neighbor are seeking voluntary union recognition from the organization. The workers presented their CEO with the request on Jan. 3. Hello Neighbor provides social services for refugees and immigrants around Pittsburgh. The bargaining unit consists of 21 workers in development and marketing, education and...
