Business category, Page 188
TVA demolishes 50s-era Johnsonville coal plant
NEW JOHNSONVILLE, Tenn. — The Tennessee Valley Authority has demolished a shuttered coal plant that began generating electricity in the 1950s. The implosion early Saturday destroyed a 600-foot smokestack and 10 boilers at the former Johnsonville Fossil Plant. The TVA is clearing the site for possible new energy technologies. The...
Ammunition shelves bare as U.S. gun sales continue to soar
SEATTLE — The covid-19 pandemic, coupled with record sales of firearms, has fueled a shortage of ammunition in the United States that’s impacting law enforcement agencies, people seeking personal protection, recreational shooters and hunters — and could deny new gun owners the practice they need to handle their weapons safely....
Coffee prices on the rise
Coffee lovers may have to dig deeper into their pockets as the cost of coffee beans has shot up due largely to a July 20 frost in Brazil that has destroyed crops. Andrew Oakes, owner of Fresh Roasted Coffee in Sunbury, said the price of green, unroasted beans has risen...
Stocks slip but are still on track for 6th monthly gain
Stocks fell in morning trading on Wall Street Friday with internet retail giant Amazon weighing down major indexes following a weak sales report and forecast. The S&P 500 index fell 0.4% as of 10:20 a.m. Eastern and is on pace for a weekly loss, though still poised to finish out...
Wall Street pushes broadly higher after two days of losses
Stocks on Wall Street bounced back from a two-day slide Thursday, placing the S&P 500 on pace for its second straight weekly gain. The S&P 500 index rose 0.4%, powered by broad gains. About 77% of the stocks in the benchmark index closed higher. Technology stocks and banks made some...
German federal court sides with Lindt in gold bunny battle
A German federal court ruled Thursday that the golden shade of the foil wrap on Lindt & Spruengli’s Gold Bunny, a popular chocolate Easter bunny, enjoys protected status. The Federal Court of Justice delivered its verdict in a battle between Switzerland’s Lindt and a German company, Heilemann, which in 2018...
Robinhood makes Wall Street debut, stumbles at start
Robinhood made its own leap into the stock market Thursday, the one it helped reshape by bringing millions of new investors to Wall Street, and its shares were falling in their first day of trading. Robinhood Markets’ stock was at $36.16, as of 1 p.m. Eastern time, down 4.7% from...
Transportation panel to issue plan on Pa. gas tax elimination
HARRISBURG — A transportation funding commission set up by Gov. Tom Wolf to find ways to end Pennsylvania’s reliance on its gas tax will issue a $15.6 billion package of recommendations, which lean heavily on shifting to a vehicle-miles-traveled fee that numerous states are exploring. The Transportation Revenue Options Commission...
Once fading, mask sales starting to rebound
NEW YORK — Masks, which had started to disappear from store shelves, may be front and center again. A spot check of businesses and other data sources are showing that mask sales have been rising in recent weeks as Americans worry about the surging cases of the delta variant of...
U.S. economy accelerated at a solid 6.5% rate last quarter
WASHINGTON — Fueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in another sign that the nation has achieved a sustained recovery from the pandemic recession. Thursday’s report from the Commerce Department estimated that the nation’s gross domestic product — its...
GDP roars past pre-pandemic levels. Where does the economy go from here?
WASHINGTON — Even with production glitches, transportation bottlenecks and labor shortages, the U.S. economy grew in the second quarter at one of the fastest rates in decades, lifting the nation’s total output above where it was before covid-19 hit, according to government data released Thursday. “That we were able to...
Google delays return to office, mandates vaccines
SAN RAMON, Calif. — Google is postponing a return to the office for most workers until mid-October and rolling out a policy that will eventually require everyone to be vaccinated once its sprawling campuses are fully reopened. The announcement Wednesday came as the more highly contagious delta variant is driving...
Stocks end mixed after Fed notes progress on the economy
Stock indexes capped a wobbly day of trading on Wall Street with mixed results Wednesday after the Federal Reserve said it was seeing improvement in the economy, but not enough to start dialing down its support measures. The S&P 500 slipped less than 0.1% after giving up a brief afternoon...
How UPMC’s new CEO Leslie Davis plans to lead the health giant
Forward motion is the ultimate goal for Leslie Davis as she takes over as chief executive of health care giant UPMC, whether it be in patient services, insurance or academics. Davis, 62, becomes the first woman to head the multibillion-dollar operation. She takes over officially on Sunday, though outgoing CEO...
Contour to offer new flights from Pittsburgh International to Indianapolis, Milwaukee
Contour Airlines will begin nonstop flights from Pittsburgh to Indianapolis and Milwaukee on Oct. 12, the airline announced Wednesday. “Pittsburgh is a new market for us,” said Matt Chaifetz, CEO of the Smyrna, Tenn.-based airline. Contour had been in talks with Indianapolis Economic Development Corp. about adding flights to certain...
UPMC President Jeffrey Romoff to retire
Jeffrey Romoff, the architect of UPMC’s vast empire of hospitals in Western Pennsylvania and beyond, is set to retire Aug. 1, officials announced Wednesday. Romoff will be succeeded by Leslie C. Davis, who most recently served as executive vice president of UPMC and president of the health services division, where...
Robinhood IPO asks customers to play big role as investors
LOS ANGELES — Robinhood is disrupting another stock market norm — and taking a big risk — by giving ordinary investors access to a huge slice of its initial public offering. The popular online brokerage is taking the unusual step of allowing users of its trading app to buy up...
$15 wage becoming a norm as employers struggle to fill jobs
The signs and banners are dotted along suburban commercial strips and hanging in shop windows and restaurants, evidence of a new desperation among America’s service-industry employers: “Now Hiring, $15 an hour.” It is hardly the official federal minimum wage — at $7.25, that level hasn’t been raised since 2009 —...
Pittsburgh economy adds 9,300 jobs in June; jobless rate drops slightly
The Pittsburgh region’s economy continued to show signs of a slow recovery, adding 9,300 jobs in June, most of which were in the leisure and hospitality sector. “We are scuffling along, jobs wise. There’s still some of the labor force that’s deciding not to go back to work,” said Frank...
Weakness in tech stocks pulls Wall Street back from records
A slide in technology and consumer-oriented companies helped pull stocks lower Tuesday on Wall Street, dragging the major indexes below the record highs they set a day earlier. The S&P 500 fell 0.5%, snapping a five-day winning streak. The selling was most pronounced in technology and communication stocks, and in...
Airlines cite concerns about fuel shortages at some airports
The fuel needle is moving closer to “empty” at some U.S. airports. American Airlines says it’s running into fuel shortages at some smaller and mid-size airports, and in some cases the airline will add refueling stops or fly fuel into locations where the supply is tight. The airline said that...
John Dorfman: The market is expensive, but some stocks aren’t
Clients and prospects often say to me, “With the market at all-time highs, isn’t this a bad time to invest?” They are worrying about the wrong thing. If you don’t invest when the market is at an all-time high, you will miss some excellent returns. A study by J.P. Morgan...
Stocks shake off a wobbly start and finish slightly higher
Wall Street capped a wobbly day for stocks with modest gains Monday, nudging the major indexes further into record territory. The S&P 500 shrugged off an early slide and gained 0.2%. Consumer-oriented companies, banks and energy and communications stocks helped lift the market. Those gains were kept in check by...
UFCW, Giant Eagle announce new contract with wage increases
A new four-year contract that Giant Eagle employees ratified last week includes wage increases, continues no-cost health care benefits and provides new protections for LGBTQ+ workers, according to a joint statement released Monday by the company and union. The agreement covers about 5,300 employees who are members of United Food...
GM issues 2nd Bolt recall; faulty batteries can cause fires
General Motors is recalling some older Chevrolet Bolts for a second time to fix persistent battery problems that can set the electric cars ablaze. Until repairs are done, GM says owners should park the cars outdoors, limit charging to 90% of battery capacity, and not deplete batteries below 70 miles...
