Business category, Page 211
Pet food recall expanded after 70 dogs die, 80 more sickened, says FDA
An Indiana company has expanded a pet food recall it voluntarily issued last month after 70 dogs have died and more than 80 were sickened. According to the U.S. Food and Drug Administration, the Sportmix pet food products were manufactured by Midwestern Pet Foods in their Chickasha, Okla., plant. As...
Stocks drift on Wall Street; Treasury yields keep rallying
U.S. stocks are drifting close to their record heights Tuesday, while Treasury yields keep marching higher amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year. The S&P 500 was virtually unchanged after the first 15 minutes of trading....
GM charges up new unit to sell electric delivery vans, gear
DETROIT — The market for battery-powered delivery vehicles and equipment has so much potential that General Motors is forming a new business unit to serve it. The first product for the new venture called BrightDrop will be an electric-powered wheeled pallet that will take goods from the warehouse to trucks...
Volkswagen triples electric car sales ahead of climate rules
FRANKFURT, Germany — Europe’s push into electric cars is gathering speed — despite the pandemic. Automaker Volkswagen tripled sales of battery-only cars in 2020 as its new electric compact ID.3 came on the market ahead of tough new European Union limits on auto emissions. And Germany, long a laggard in...
Idaho internet provider to block Facebook and Twitter for censorship
PRIEST RIVER, Idaho — An internet provider based in northern Idaho, says it will block Facebook and Twitter from its WIFI service for some customers due to claims of censorship. KREM-TV reports that the decision by Your T1 WIFI came after Twitter and Facebook banned President Trump from their platforms...
Report: Cumulus Media tells radio hosts stop stolen election talk
NEW YORK — The ownership group for several talk radio hosts across the country, including syndicated figures such as Mark Levin and Dan Bongino, says its personalities need to tone things down or face firing. Cumulus Media content chief Brian Philips sent an email to managers Wednesday, the day of...
Cleaning up SolarWinds hack may cost as much as $100 billion
WASHINGTON — American businesses and government agencies could be spending upward of $100 billion over many months to contain and fix the damage from the Russian hack against the SolarWinds software used by so many Fortune 500 companies and U.S. government departments. “Unlike good wine, this case continues to get...
Electric truck maker hits 100,000 orders ahead of fall start
LORDSTOWN, Ohio — An upstart electric vehicle maker said Monday that it now has more than 100,000 orders for its new pickup truck. Lordstown Motors Corp. plans to begin production of the Endurance All-Electric Pickup Truck in September at a former General Motors assembly plant near Youngstown. The company took...
Wall Street distances itself from Trump, GOP after riots
A growing number of Wall Street banks and businesses have cut ties with President Donald Trump’s campaign and financial arms, as well as the broader Republican Party, following last week’s riots and insurrection at the U.S. Capitol. The financial technology company Stripe has stopped processing payments for the Trump campaign,...
Meet the online gadget show, a hall of mirrors to the future
Every January, huge crowds descend on Las Vegas for the CES gadget show, an extravaganza of tech and glitz intended to set the tone for the coming year in consumer technology. CES kicks off this week, but thanks to the pandemic, it will be in a radical new format —...
Chunky bootmaker Dr. Martens to sell shares to public
The maker of Dr. Martens boots, the chunky-soled footwear once championed by rebellious young people but now favored by celebrities like Rihanna, plans to sell shares to the public as the existing owners seek to profit from growth of the iconic brand. Dr. Martens Ltd. said Monday that current investors...
Stocks slip as Wall Street takes a breather after 4-day run
Stocks are slipping Monday as trading cools on Wall Street and in markets around the world following their strong record-setting runs. The S&P 500 was 0.5% lower in late morning trading and on pace to take a breather from a four-day winning streak that carried it to more all-time highs....
Businesses rethink political donations as a result of Capitol siege
Businesses are rethinking political contributions in the wake of the deadly Capitol siege by President Donald Trump’s supporters on Wednesday. Citigroup confirmed Sunday that it is pausing all federal political donations for the first three months of the year. In a memo to employees Friday, Citi’s head of global government...
Women Leading Women wants to improve personal, professional growth
Can we talk? That’s what two friends from Fox Chapel are encouraging with Women Leading Women, a nonprofit co-founded in 2019 by Fox Chapel residents Dana Hanna and Dr. Jenny Yu. Hanna, 46, and Yu, 43, met at a social event, bonded quickly and set their sights on creating a...
Parler squeezed as Trump seeks new online megaphone
President Donald Trump has been kicked off of most mainstream social media platforms following his supporters’ siege on the U.S. Capitol. But it remains to be seen how fast or where — if anywhere — on the internet he will be able to reach his followers. The far right-friendly Parler...
From high school dropout to $3M venture, Derry native launches gamer coaching platformVideo
When Josh Fabian dropped out of high school in Derry and moved out of his parents’ home all before the age of 18, he wasn’t expecting a career in web design to fall into his lap. He certainly wasn’t expecting to be heading up a gamer coaching company that’s attracted...
Hyundai recalls 471K more SUVs, tells owners to park outside
DETROIT — Hyundai is adding about 471,000 SUVs to a September U.S. recall for an electrical short in a computer that could cause fires. And the company is warning owners to park the SUVs outdoors until they are repaired. The latest recall covers certain model-year 2016 through 2018, and additional...
New campaign, and logo, for GM in a bid to electrify image
General Motors is changing its corporate logo and launching an electric vehicle marketing campaign to reshape its image as clean vehicle company, rather than a builder of gas-powered pickups and SUVs. The 112-year-old Detroit automaker has promised to roll out 30 new battery-powered vehicles globally by the end of 2025...
Roku buys library of the short-lived streaming service Quibi
Roku is buying the content library of Quibi, the short-lived streaming service, to bulk up its own free ad-supported channel. Quibi, short for quick bites, raised $1.75 billion from investors including major Hollywood players like Disney, NBCUniversal and Viacom. It produced shows that were released in 10- to 12-minute increments...
Wall Street drifts near records following weak jobs report
U.S. stock indexes are wavering between small gains and losses Friday, following a sober reminder of how many jobs the pandemic is destroying. The S&P 500 was up 0.1% after swinging between gains and losses of 0.5%. The benchmark index climbed to an all-time high a day earlier. Gains in...
U.S. loses 140,000 jobs, 1st monthly loss since spring
WASHINGTON — U.S. employers shed jobs last month for the first time since April, cutting 140,00 positions, clear evidence that the economy is faltering as the viral pandemic tightens its grip on consumers and businesses. At the same time, the unemployment rate stayed at 6.7%, the first time it hasn’t...
Boeing will pay $2.5 billion to settle charge over 737 Max
Boeing will pay $2.5 billion to settle a Justice Department investigation and admit that employees misled regulators about the safety of its 737 Max aircraft, which suffered two deadly crashes shortly after entering airline service. The government and the company said Thursday that the settlement includes money for the crash...
Amazon pledges $2 billion to affordable housing in 3 U.S. cities
Amazon will direct $2 billion in loans and grants to secure affordable housing near three American cities where the company employs thousands of workers, the tech giant announced Wednesday. In a first step in the Puget Sound region, Amazon is promising $185.5 million, mostly in loans, to the King County...
U.S. services sector grows for 7th consecutive month
SILVER SPRING, Md. — The U.S. services sector, where most Americans work, grew for the seventh consecutive month in December even as coronavirus cases surged through the holidays. The Institute for Supply Management reported Thursday that its index of services activity grew slightly to a reading of 57.2 last month,...
Wall Street rallies again on Democratic wins, stimulus hopes
Wall Street is climbing to new heights again Thursday on expectations that the Democratic sweep of Washington means more stimulus is likely on the way for the economy. The S&P 500 was 1.2% higher in the first trading after Congress confirmed Joe Biden as the winner of the presidential election...
