Business category, Page 166
CVS, Rite Aid put limits on purchase of ‘morning after’ pills after seeing sales spike
CVS Health and Rite Aid are limiting how many so-called “morning after” emergency contraceptive pills a person can buy at one time. Both agencies told NBC News that the limit is being placed because of increased demand. The demand is likely connected to the Supreme Court ruling on Friday that...
‘Silicon Heartland’ boon for Ohio, but families mourn homes
JOHNSTOWN, Ohio — When President Joe Biden applauded a decision by Intel Corp. to build a $20 billion semiconductor operation on “1,000 empty acres of land” in Ohio, it didn’t sit well with Tressie Corsi. The 85-year-old woman has lived on 7 acres of that land since she and her...
Public, private sectors cooperate to try to boost apprenticeship numbers in Pennsylvania
In the years leading up to his graduation from Hampton Township High School in 2019, Nic Michielli discussed his future with district staff. “When I told my high school guidance counselor that I probably wasn’t planning to go to college, the conversation pretty much ended there,” Michielli said. With a...
John Dorfman: In a sour market, these stocks have been sweet
While most stocks have nosedived this year, a few have gained altitude. Many, but by no means all, are energy stocks. And not all of them are expensive, either. Here are five stocks that are bucking the downtrend. Exxon As I write this, the market is down about 20% for...
Frontier, Spirit stocks fall heading into key merger vote
Shares of Frontier Airlines and Spirit Airlines tumbled Monday after their improved merger proposal won a key endorsement just days ahead of a crucial shareholder vote. Frontier CEO Barry Biffle said Monday that he is optimistic Spirit shareholders will approve Frontier’s latest stock-and-cash offer for Spirit when they vote Thursday....
Company buying Trump’s social media app faces subpoenas
NEW YORK — The company planning to buy Donald Trump’s new social media business has disclosed a federal grand jury investigation that it says could impede or even prevent its acquisition of the Truth Social app. Shares of Digital World Acquisition Corp. dropped 10% in morning trading Monday as the...
Russia slips into historic default — what does it really mean?
LONDON — Russia appeared to default on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. Moscow owed $100 million in interest on one bond priced...
Corporate greed blamed for inflation, but economists say it’s not biggest culprit
WASHINGTON — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: on greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of Representatives last month passed on a party-line...
Fix the Hog: Harley, Westinghouse ordered to resolve warranties
WASHINGTON — Federal regulators have accused Harley-Davidson and Westinghouse of imposing illegal warranty terms on customers and ordered them to fix their warranties and ensure that their dealers compete fairly with independent repair-makers. The companies have imposed illegal warranty terms that voided customer warranties if they used anyone other than...
Got a savings goal? Consider forming a savings circle
A breezy January morning made the mid-30 temperatures feel even chillier. But it was an important day for the young man pushing 30 himself . He was about to face his entire family to ask for a loan to seed his new business idea. He had contributed to the family’s...
Allegheny County Airport Authority, company in legal battle over concessions contract
The operator of concessions at Pittsburgh International Airport has accused Allegheny County Airport Authority of using bullying tactics to try to get out of its lease with the company and then, when that didn’t work, illegally terminating the contract. Fraport Pittsburgh filed a lawsuit against the authority in Allegheny County...
Wall Street ends broadly higher after sharp losses last week
NEW YORK — Stocks finished broadly higher on Wall Street Tuesday, clawing back some of the ground they lost in their worst weekly drop since the beginning of the pandemic. The rally to start the holiday-shortened week came as investors look ahead to what Federal Reserve Chair Jerome Powell will...
Elon Musk’s $44 billion Twitter deal gets board endorsement
NEW YORK — Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter...
Kellogg to split into 3; snacks, cereals, plant-based food
Kellogg Co., the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods. Kellogg’s which owns and MorningStar Farms, the plant-based food maker, said Tuesday that the spinoff of the yet-to-be-named cereal and plant-based foods companies should be completed by...
Maryland Apple workers face hurdles after vote to unionize
TOWSON, Md. — The historic vote by employees of a Maryland Apple store to unionize — a first for the technology giant — is a significant step in a lengthy process that labor experts say is heavily stacked against workers in favor of their employers. Apple store employees in a...
Bitcoin drops below $20,000 as crypto selloff quickens
LONDON — The price of bitcoin fell below $20,000 on Saturday for the first time since late 2020, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping by as much as 9% to less than $19,000...
Western Pa. counties, municipalities to see bump in money from fees on natural gas production
Allegheny and Westmoreland counties, along with municipalities in the counties, will receive about $3.1 million from impact fees the state collected last year on Marcellus Shale gas well production, a considerable increase over the year before, according to data released Friday. Allegheny County and its municipalities will receive nearly $1.9...
Airlines were totally unprepared when travel came roaring back
Airline and airport executives spent the past two years trying to convince everyone it’s safe to fly during a pandemic, touting reduced touch points and hospital-grade filters. Little did they know how overwhelmed they’d be once travel came roaring back. From Sydney, where passengers are waiting for hours to check...
T-shirts? Ice cream? Retailers cash in on Juneteenth
NEW YORK — Retailers and marketers have been quick to commemorate Juneteenth with an avalanche of merchandise from ice cream to T-shirts to party cups. But many are getting backlash on social media for what critics say undermines the day, designated as a federal holiday last year to honor the...
Wall Street closes worst week since 2020 with slight gain
NEW YORK — Wall Street closed out its most punishing week since the 2020 coronavirus crash with a meandering day of trading Friday that left it a bit higher. The S&P 500 rose 8.07 points, or 0.2%, to 3,674.84 after waffling between modest losses and gains for most of the...
GM ups price of already pricey Hummer EV
Amid rising commodity costs, General Motors is upping the price on its GMC Hummer EV pickup and SUV by $6,250 starting June 18. The base price for the Hummer EV 3X coming this fall will go from $98,400 to $104,650. The Hummer EV 2X available next spring will be $94,650,...
Canceled flights rise across U.S. as summer travel heats up
U.S. airlines canceled high numbers of flights for a second straight day on Friday as they tried to recover from storms while accommodating growing crowds of summer vacationers. By early afternoon in the eastern U.S., airlines has scrubbed more than 1,100 flights after canceling more than 1,700 on Thursday, according...
Pennsylvania unemployment rate lowest in nearly 3 years
Pennsylvania’s unemployment rate dropped two-tenths of a percentage point, down to 4.6% in May, according to figures provided by the Pennsylvania Department of Labor and Industry. It’s the lowest unemployment rate in Pennsylvania since Oct. 2019, months before the pandemic began. In contrast, the U.S. unemployment rate was unchanged over...
Wall Street tumbles on fears for economy as more rates rise
NEW YORK — Fear swept through financial markets Thursday, and Wall Street tumbled as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates. The S&P 500 fell 3.3% in a widespread wipeout to more than reverse its blip of a 1.5% rally...
Fed attacks inflation with its largest rate hike since 1994
WASHINGTON — The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession....
