Business category, Page 176
Uber opens up a space for NYC taxi cabs on its app
Uber, hit by driver shortages and a surge in food delivery requests during the pandemic, will list New York City taxi cabs on its app, a partnership that until recently would have been unthinkable with both camps fighting ferociously for the same customers. After a period in which waits for...
Russian stock market, crushed by war, opens with big limits
NEW YORK — The Russian stock market opened Thursday for limited trading under heavy restrictions for the first time since Moscow invaded Ukraine, coming almost a month after prices plunged and the market was shut down as a way to insulate the economy. Trading of a limited number of stocks,...
Americans applying for jobless aid is lowest since 1969
WASHINGTON — The number of Americans applying for unemployment benefits last week fell to its lowest level in 52 years as the U.S. job market continues to show strength in the midst of rising costs and ongoing virus pandemic. Jobless claims fell by 28,000 to 187,000 for the week ending...
Spirit Airlines bringing new nonstop service from Pittsburgh to Newark
Low-cost airline carrier Spirit Airlines will start nonstop service between Pittsburgh International Airport and Newark Liberty International Airport on June 22. The company announced Wednesday that the new service will connect Pittsburgh to the New York City area with one-daily roundtrip flight between the two airports. The new Pittsburgh service...
New Kensington Digital Foundry gets federal ‘Smart Manufacturing Innovation Center’ designation
The U.S. Department of Energy has named Penn State New Kensington’s Digital Foundry as a Smart Manufacturing Innovation Center — one of only seven in the nation. The designation of the facility, which is under construction on Fifth Avenue in downtown New Kensington, as an “SMIC” was made in partnership...
U.S. agrees to lift taxes on British steel, aluminum
The United States has agreed to lift tariffs on British steel and aluminum, mending a rift between allies that dates back to the Trump administration. At a meeting Tuesday in Baltimore, the U.S. and the U.K. announced a deal that would remove taxes on British steel and aluminum that comes...
Highmark reports $22B in revenue
Highmark Health reported Tuesday that its health care system earned $22 billion in revenue last year, up $301 million from the year before. Highmark employs 37,000 people and provides health insurance coverage to patients in the Mid-Atlantic region. It is the parent company of Allegheny Health Network, which operates 14...
Tesla opens ‘Gigafactory’ near Berlin, its 1st in Europe
Electric car manufacturer Tesla is opening its first European factory Tuesday on the outskirts of Berlin in an effort to challenge German automakers on their home turf. The company says its new “Gigafactory” will employ 12,000 people and produce 500,000 vehicles a year. German Chancellor Olaf Scholz and Economy Minister...
Stocks gain ground on Wall Street, oil prices ease lower
Stocks rose in morning trading on Wall Street Tuesday and oil prices eased back as investors remain focused on the outlook for inflation. The S&P 500 rose 0.8% as of 10:18 a.m. Eastern. The Dow Jones Industrial Average rose 261 points, or 0.8%, to 34,811 and the Nasdaq rose 1.2%....
Ford recalls F-150 pickups, SUVs to fix brake fluid leak
DETROIT — Ford is recalling nearly 215,000 pickup trucks and large SUVs in the U.S. and Canada because brake fluid can leak, causing longer stopping distances. The recall covers the F-150 pickup from 2016 through 2018, as well as Ford Expedition and Lincoln Navigator SUVs from 2016 and 2017. All...
General Motors recalls 740K SUVs; headlights are too bright
DETROIT — General Motors is recalling more than 740,000 small SUVs in the U.S. because the headlight beams that can be too bright and cause glare for oncoming drivers. The recall announced Tuesday comes after U.S. safety regulators turned down a request from the Detroit automaker to avoid the recall....
John Dorfman: Apple, Diamondback and 3 other Nasdaq stocks I like
The Nasdaq Stock Market has a reputation as a home for up-and-comers. In the past year, it’s been more like down-and-outers. The Nasdaq Composite Index fell more than 3% in the 12 months through March 15, while the Standard & Poor’s 500 Total Return Index, widely viewed as a proxy...
Stocks turn lower on Wall Street after best week since 2020
Stocks capped a day of choppy trading on Wall Street with a modestly lower finish Monday, giving back some of their recent gains after the major indexes notched their best week in more than a year. The S&P 500 slipped less than 0.1% after giving up an early gain and...
‘Kill more’: Facebook fails to detect hate against Rohingya
JAKARTA, Indonesia — A new report has found that Facebook failed to detect blatant hate speech and calls to violence against Myanmar’s Rohingya Muslim minority years after such behavior was found to have played a determining role in the genocide against them. The report shared exclusively with The Associated Press...
Liz Weston: How to keep your tax return from getting hung up
There may never be a good time to draw the IRS’ attention, but this year you really want to avoid extra scrutiny. The IRS is so understaffed and overwhelmed that even a tiny mistake could delay your refund for months. A return that requires “manual processing” — basically, any action...
Labor foe Howard Schultz returns as Starbucks union effort grows
From the time he bought Starbucks in 1987 to the time he stepped down as chairman in 2018, Howard Schultz consistently — and successfully — fought attempts to unionize Starbucks’ U.S. stores and roasting plants. But Schultz — who was recently named Starbucks’ interim chief executive — never confronted a...
Vail Resorts announces raise in base minimum wage to $20 an hour next ski season
Vail Resorts, the parent company of Seven Springs, Hidden Valley and Laurel Mountain ski areas, announced this week the company will be increasing its minimum wage to $20 per hour for next ski season. The company’s new Chief Executive Officer Kirsten Lynch announced the $20 per hour minimum wage for...
New owners of Seven Springs, Hidden Valley, Laurel Mountain optimistic about futureVideo
As the ski season at Seven Springs begins to wind down, all indications are that the three most well-known Western Pennsylvania ski resorts — Seven Springs, Hidden Valley and Laurel Mountain— bounced back after the covid-19 pandemic. Although the resorts’ new owner, Vail Resorts Inc., does not disclose resort-specific visitor...
Pa. sports betting slips, but March Madness may bring recovery
Pennsylvania’s sports betting industry took a hit last month, seemingly contributing to a downward trend in revenues recorded at casinos across the state in February, officials said. In all, casinos generated more than $375.6 million in revenues last month, according to a report from the Pennsylvania Gaming Control Board. That’s...
Amazon’s withdrawal from Churchill development met with mixed reactions
News that Amazon will not forge ahead with its plans to build a massive warehouse in Churchill was met with mixed reactions Friday. Amazon’s decision to nix the proposed 2.6-million square-foot warehouse, which was to be developed at the former site of the George Westinghouse Research Park, came after more...
LL Bean sales grow 14% during 2nd year of pandemic
FREEPORT, Maine — A greater interest in the outdoors during the pandemic helped to drive double-digit revenue growth for L.L. Bean, allowing the board to provide a healthy bonus for workers Friday. Sales grew by 14% during the retailer’s 2021 fiscal year, the biggest gain since 1993, and a cash...
Amazon drops plans for Churchill warehouse
After more than 50 hours of public hearings and debate lasting some eight months last year, Amazon announced Thursday it was pulling out of its proposed massive warehouse project at the former George Westinghouse Research and Technology Park in Churchill. Amazon said in a statement that it has decided not...
Average U.S. mortgage rates rise; 30-year loan breaches 4%
WASHINGTON — Average long-term U.S. mortgage rates rose this week as the key 30-year loan vaulted over 4% for the first time since May 2019. The increase came amid expectations that with inflation at a four-decade high, the Federal Reserve would raise its benchmark short-term interest rate at its policy...
One of the most basic hotel amenities is disappearing
Whether out of necessity due to staffing shortages, out of respect for social distancing or perhaps just to save money, one of the primary amenities that sets a hotel apart from your home — daily housekeeping — is disappearing. The days of returning to a wrinkle-free duvet are likely gone....
Amazon closes $8.45 billion deal to buy MGM, add 4,000 movies to Prime Video
Amazon has officially acquired MGM Studios for $8.45 billion — a deal that will bring thousands of movies and TV show episodes to Prime Video. The deal was first announced in May 2021. MGM Studios tweeted, “So excited to share that MGM is now part of Prime Video and Amazon...
