Business category, Page 202
Ben & Jerry’s to stop sales in West Bank, east Jerusalem
Ben & Jerry’s said Monday it was going to stop selling its ice cream in the Israeli-occupied West Bank and contested east Jerusalem, saying the sales in the territories sought by the Palestinians are “inconsistent with our values.” The announcement was one of the strongest and highest-profile rebukes by a...
Zoom buying Five9 in $14.7B all-stock transaction
Zoom, the videoconferencing company whose growth was supercharged by the pandemic over the past year, will buy the cloud call center company Five9 in an all-stock deal valued at about $14.7 billion. That is far greater than Zoom’s market valuation a little over two years ago when it went public...
With workers in high demand, Western Pa. teens are filling the void
As businesses have taken “closed indefinitely” signs out of their windows and reopened their doors, the landscape of a post-pandemic workforce is changing and depending on an unexpected demographic — teens. Teenagers have become one of the largest segments of the working population. The Associated Press reported that, in May,...
Report: Severe drop in Wyoming, U.S. coal production in 2020
CASPER, Wyo. — A new U.S. report says coal production in Wyoming, the nation’s top coal mining state, fell by 21% in 2020 from the previous year, caused in part by reduced demand during the coronavirus pandemic, low natural gas prices and a longstanding move away from fossil fuels to...
Pennsylvania jobless rate down slightly, payrolls up in June
HARRISBURG — Pennsylvania’s unemployment rate and labor force shrank slightly in June as payrolls crept up, according to state figures released Friday. Pennsylvania’s unemployment rate dropped one-tenth of a percentage point to 6.9% from May’s adjusted rate, the state Department of Labor and Industry said. May’s initial rate had been...
Trump showerhead rule to increase water flow being dropped
WASHINGTON — So much for Donald Trump’s quest for “perfect” hair. President Joe Biden’s administration is reversing a Trump-era rule approved after the former president complained he wasn’t getting wet enough because of limits on water flow from showerheads. Now, with a new president in office, the Energy Department is...
Former industrial space in Etna to become ‘tech flex’ hub 51 Bridge Street
A former steel pipe manufacturing space in Etna is set to become a “tech flex” hub called 51 Bridge Street, the developer AM Group announced Thursday. “The borough of Etna is rooted with a strong history during Pittsburgh’s steel production and 51 Bridge Street will revitalize and transform it into...
Why are prices for groceries, gas, and used cars going up? Experts explain
A few years ago, Yvonne Ferguson-Hardin had no trouble finding a used car for her oldest daughter. This year, car shopping for her younger daughter has been harder. And stranger. One online seller never showed up to a meeting. Another was actually selling toy cars instead of real ones. Then...
Netflix plans to offer video games in push beyond films, TV
Netflix Inc., marking its first big move beyond TV shows and films, is planning an expansion into video games and has hired a former Electronic Arts Inc. and Facebook Inc. executive to lead the effort. Mike Verdu will join Netflix as vice president of game development, reporting to Chief Operating...
Johnson & Johnson recalling sunscreens because of benzene traces
Johnson & Johnson said Wednesday that it is recalling five of its sunscreen products after some samples were found to contain low levels of benzene, a chemical that can cause cancer with repeated exposure. The affected products, packaged in aerosol cans, are Aveeno Protect + Refresh aerosol sunscreen, and four...
Stocks end a wobbly day mixed and just shy of record highs
Wall Street capped a wobbly day of trading with mixed results Wednesday, as a rally in technology stocks was kept in check by a slide in banks and energy companies. The S&P 500 eked out a 0.1% gain after recovering from an early stumble and then losing much of its...
R.K. Mellon Foundation to invest $1M in companies’ best ‘social-impact’ ideas
The Richard King Mellon Foundation is looking to invest $1 million in three companies whose members can pitch the best ideas for making a social impact in areas like economic development, economic mobility, health and well-being and environmental conservation. The social-impact investment competition will ask for-profit companies to submit ideas...
Powell says inflation will be ‘elevated’ in coming months
WASHINGTON — Federal Reserve Chair Jerome Powell says that inflation “will likely remain elevated in coming months” before “moderating,” an apparent acknowledgement that price gains have been larger and more persistent than many economists forecast. In written testimony to be delivered Wednesday at noon before the House Financial Services Committee,...
Stocks ease below recent records as earnings reports roll in
Stocks gave up early gains and closed broadly lower Tuesday as investors weighed the latest quarterly earnings reports from big U.S. companies and new data pointing to rising inflation. The S&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground. Banks, industrial stocks and companies...
Boeing cuts production on the 787 to address flaw
CHICAGO — Boeing will cut production of its large 787 aircraft after a structural flaw was discovered in some undelivered planes. The production rate for the 787, which it calls the Dreamliner, will fall below five per month and the Chicago company said Tuesday that it now anticipates that it...
Google fined $592 million in dispute with French publishers
PARIS — France’s competition regulator fined Google $592 million on Tuesday for failing to negotiate in good faith with French publishers in a dispute over payments for their news. The agency threatened fines of around another $1 million per day if Google doesn’t come up with proposals within two months...
John Dorfman: The Perfect 10 Portfolio returned 69% last year
To call a beautiful woman a “Perfect 10” these days would be considered chauvinistic and outdated. But my Perfect 10 Portfolio is still looking good. This is a hypothetical portfolio of stocks, each of which sells for 10 times the company’s earnings per share. Historically, most stocks sell for about...
Stock indexes notch more records ahead of earnings reports
Banks led stocks to modest gains Monday on Wall Street, nudging the major stock indexes to more record highs ahead of a busy week of corporate earnings reports from big U.S. companies. The S&P 500 gained 0.3% after bouncing back from an early stumble. The benchmark index, which has notched...
EU puts digital levy plans on hold in face of U.S. criticism
BRUSSELS — In a gesture of goodwill to the United States, the European Union on Monday put work on plans for a digital tax levy on hold for the moment to concentrate on finalizing the historic tax decision endorsed by the Group of 20 nations over the weekend. In the...
Stocks solidly higher as investors turn to company earnings
Stocks were solidly higher Friday, putting the market on track to end this holiday-shortened week with a slight gain and more record highs. Investors will turn their attention toward company earnings, which kick off next week. The S&P 500 index was up 1% as of 2:31 p.m. Eastern. The Dow...
Highmark seeks to buy Gateway Health; deal looks to add 355K insurance members
Highmark Health’s insurance arm looks to grow by more than 350,000 members if state regulators approve a proposed deal to acquire sole ownership of Gateway Health. The acquisition instantly would expand Highmark’s insurance rolls from 6 million to 6.355 million members, a nearly 6% increase. For nearly three decades, Highmark...
Biden tells Putin that Russia must crack down on cybercriminals
WASHINGTON — President Joe Biden told Russian President Vladimir Putin in a Friday phone call that he must “take action” against cybercriminals acting in his country and that the U.S. reserves the right to “defend its people and its critical infrastructure,” the White House said. The conversation came less than...
Biden set to sign competition order targeting big business
President Joe Biden is set to sign on Friday an executive order that the White House bills as an effort to target anticompetitive practices in tech, health care and other parts of the economy while boosting workers’ wages and consumer protections. The sweeping order includes 72 actions and recommendations that...
GM recall: Side air bags can explode in Chevy, GMC pickups
DETROIT — General Motors is recalling more than 400,000 pickup trucks in the U.S. because the side air bags can explode without warning and spew parts into the cabin. The recall covers certain 2015 and 2016 Chevrolet and GMC Sierra 1500, 2500, and 3500 trucks. Documents posted Friday by U.S....
Pop into the Lawrenceville Pop-Up Market
When Rona Chang saw the impact that covid-19 had on fellow small businesses, she literally took to the street. Chang organized a pop-up market in September in Lawrenceville for vendors that relied upon in-person shopping as their primary income. Chang, who manages her business, Otto Finn, out of Radiant Hall...
