Business category, Page 17
Court rules Lisa Cook can remain a Fed governor for now while fighting Trump’s attempt to fire her
WASHINGTON — A federal court ruled Tuesday that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Donald Trump’s efforts to fire her. The ruling, which will almost certainly be appealed, is a blow to the Trump administration’s efforts to assert more control over...
U.S. Steel to end steel production at Illinois plant but no layoffs
HARRISBURG — U.S. Steel will stop processing steel slabs at its Granite City Works plant in Illinois, three months after Nippon Steel sealed a deal with President Donald Trump to buy the iconic American steelmaker by giving the government a say over decisions that affect domestic steel production. U.S. Steel...
U.S. household income rose slightly last year, roughly matching 2019 level
WASHINGTON — The income for the typical U.S. household barely rose last year and essentially matched its 2019 peak, the Census Bureau said Tuesday, a stark illustration of the impact that the pandemic inflation spike had on Americans’ finances. The report also showed that the highest-earning households received healthy inflation-adjusted...
Dick’s Sporting Goods takes over Foot Locker in $2.4B deal
Dick’s Sporting Goods has officially bought Foot Locker for $2.4 billion. Already one of the largest sporting goods retailers in the U.S., the Findlay-based company has gone global by adding about 2,400 Foot Locker locations in 20 countries. The deal was unveiled in May and finalized Monday. Foot Locker and...
New data shows job market was much weaker than thought in 2024, and this year as wellVideo
WASHINGTON — The U.S. job market was much weaker in 2024 and early this year than originally reported, adding to concerns about the health of the nation’s economy. Employers added 911,000 fewer jobs than originally reported in the year that ended in March 2025, the Labor Department reported Tuesday. The...
Apple’s iPhone 17 line-up includes new ultra-thin model and $100 price hike for Pro model
Apple on Tuesday rolled out its next generation of iPhones that includes a new ultra-thin model and a slight price hike for one of its high-end models, while the company feels the squeeze of a global trade war. The iPhone 17 line-up includes a new slimmed-down model that will adopt...
John Dorfman: Adobe, Applied Materials stand out for fat profit margins
High profits are the engine that can drive pleasant returns for shareholders. Beyond that, on a societal level, profits provide the signals that make the capitalist system work. These signals are the reason capitalist economies have fewer gluts and shortages than centrally planned (Communist) economies. High profits lure new competitors,...
Rivian lays off hundreds of employees ahead of the end of EV tax credits
Rivian has laid off about 200 employees as the electric vehicle maker prepares for a U.S. economy with fewer incentives to go green. The electric truck and sport-utility vehicle manufacturer is preparing for a challenging year in which it plans to launch a more affordable model even as it gets...
Rupert Murdoch’s family reaches deal on who will control media empire after his death
Rupert Murdoch’s family has reached a deal on control of the 94-year-old mogul’s media empire after his death, ensuring no change in direction at Fox News, the most popular network for President Donald Trump and conservatives. The deal creates a trust establishing control of the Fox Corp. for Lachlan Murdoch,...
Chief justice lets Trump remove member of Federal Trade Commission for now
WASHINGTON — Chief Justice John Roberts on Monday let President Donald Trump remove a member of the Federal Trade Commission, the latest in a string of high-profile firings allowed for now by Supreme Court. Trump first moved to fire Rebecca Slaughter in the spring, but she sued and lower courts...
PNC to acquire FirstBank for $4.1B, adding branches in Ariz., Colo.
Pittsburgh-based PNC Bank is buying a competitor in Arizona and Colorado for $4.1 billion. The bank announced Monday morning it’s absorbing 95 FirstBank branches and $27 billion in assets. FirstBank has a “leading” market position in Colorado and a “substantial presence” in Arizona, according to PNC. The number of PNC...
Shortage of homebuyers forces many sellers to lower prices or walk away as sales slump drags on
LOS ANGELES — Skyrocketing housing values and a shortage of homes on the market gave homeowners the upper hand for years when it came time to sell. That’s no longer a given. Across the country, it’s getting tougher for sellers to drive a hard bargain. A dearth of home shoppers...
South Korea will bring home 300 workers detained in massive Hyundai plant raid in Georgia
SEOUL, South Korea — More than 300 South Korean workers detained following a massive immigration raid at a Hyundai plant in Georgia will be released and brought home, the South Korean government announced Sunday. Kang Hoon-sik, chief of staff for President Lee Jae Myung, said South Korea and the U.S....
Trillion dollar man: New pay package could make Musk that much richer if Tesla thrives
The world’s richest man could become its first trillionaire if Elon Musk hits a series of extremely aggressive targets for his electric car company over the next decade, according to a proposed pay package released by the company. Tesla said in a regulatory filing Friday that it will hand Musk...
Anthropic to pay authors $1.5 billion to settle lawsuit over pirated chatbot training material
NEW YORK — Artificial intelligence company Anthropic has agreed to pay $1.5 billion to settle a class-action lawsuit by book authors who say the company took pirated copies of their works to train its chatbot. The landmark settlement, if approved by a judge as soon as Monday, could mark a...
Google hit with $3.5 billion fine from European Union in ad-tech antitrust case
LONDON — European Union regulators on Friday hit Google with a 2.95 billion euro ($3.5 billion) fine for breaching the bloc’s competition rules by favoring its own digital advertising services, marking the fourth such antitrust penalty for the company. The European Commission, the 27-nation bloc’s executive branch and top antitrust...
Towne Drugs Pharmacy a community fixture in Aspinwall since 1956
As some U.S. pharmacies struggle to stay afloat amid ongoing turmoil in the prescription reimbursement industry, one independent family-owned pharmacy in Aspinwall is dedicated to remaining open. Towne Drugs Pharmacy in Aspinwall is co-owned by father/son pharmacist duo Bob Akanowicz and Jon Akanowicz, both of Hampton. Both men know just...
U.S. employers likely added a modest 80,000 jobs last month, a sign that the labor market has cooled
WASHINGTON — When the Labor Department put out a disappointing jobs report a month ago, an enraged President Donald Trump responded by firing the economist in charge of compiling the numbers and nominating a loyalist to replace her. Nothing quite so dramatic is likely Friday when the department releases hiring...
Trump administration ditches Biden-era plan to make airlines pay compensation for flight disruptions
The Trump administration said Thursday it is abandoning a Biden-era plan that sought to require airlines to compensate stranded passengers with cash, lodging and meals for flight cancellations or changes caused by a carrier. The proposed rule would have aligned U.S. policy more closely with European airline consumer protections. It...
U.S. Steel, Nippon Steel end litigation against Cleveland-Cliffs
Nippon Steel and U.S. Steel have ended its lawsuit against steelmaker Cleveland-Cliffs and the head of the United Steelworkers union. Nippon Steel and U.S. Steel merged in June. A federal lawsuit was filed in March alleging Cleveland-Cliffs, its president, Lourenco Goncalves, and United Steelworkers President David McCall, were conspiring to...
Applications for U.S. jobless benefits rise but remain in a healthy range
WASHINGTON — The number of Americans seeking jobless benefits rose modestly last week, suggesting that employers are still retaining workers even as the economy has showed signs of slowing. Applications for unemployment benefits for the week ending Aug. 30 rose by 8,000 to 237,000, the Labor Department reported Thursday. That’s...
Transgender federal employees say they face fear and discrimination under Trump
Marc Seawright took pride in his job at the U.S. Equal Employment Opportunity Commission, where he worked for more than eight years and most recently oversaw technology policy to support the agency’s mission of combating workplace harassment and discrimination. But then President Donald Trump began targeting transgender and nonbinary people...
Online grocer Harvie, indebted and short on cash, seeks bankruptcy protection
Harvie, a farm-to-doorstep food delivery service based in Pittsburgh, is seeking bankruptcy protection as it grapples with around $2.4 million in debt. At least $144,000 is owed to small farmers in Pennsylvania and Maryland, according to filings last month in U.S. Bankruptcy Court in Pittsburgh. Its largest creditor, JPMorgan Chase,...
School board to vote on renewing tax incentive program for Greensburg developers
Greensburg Salem school board will vote next week on renewing a tax incentive program intended to encourage commercial developments in Greensburg. The LERTA — Local Economic Revitalization Tax Assistance — program is a 10-year property tax abatement available to those building new developments or expanding the footprint of existing ones,...
Trump administration asks Supreme Court to quickly take up tariffs case after appeals court loss
WASHINGTON — The Trump administration took the fight over tariffs to the Supreme Court on Wednesday, asking the justices to rule quickly that the president has the power to impose sweeping trade penalties under federal law. The government called on the court to reverse an appeals court ruling that most...
