Business category, Page 245
Philips Respironics hiring at Murrysville, Upper Burrell plants to meet demand for ventilators
Philips Respironics, a medical manufacturer that produces ventilators and related breathing equipment, is increasing production and hiring assemblers at its Murrysville and Upper Burrell plants to meet demand spurred by the spreading coronavirus. The company is recruiting for more than 50 positions for assemblers on all shifts at the two...
U.S. home sales jumped to 13-year high before viral outbreak
WASHINGTON — U.S. home sales jumped in February to their highest level in 13 years, a trend that will almost certainly be reversed as people stop showing their property out of fear of infection in the coronavirus outbreak. The National Association of Realtors said Friday that home sales jumped 6.5%...
Global stocks, U.S. futures rise on virus aid hopesVideo
BEIJING — Global stock markets and U.S. futures rose Friday on hopes that government and central bank action can help the world economy endure a looming recession caused by the coronavirus. European markets were as much as 4% higher and Shanghai, Hong Kong and other Asian markets advanced. Seoul surged...
Cautious optimism on Wall Street sends stocks higher
NEW YORK — Stocks capped a wobbly day on Wall Street with solid gains Thursday, reflecting cautious optimism among investors that emergency action by the U.S. government and central banks will cushion the global economy from a looming recession caused by the coronavirus pandemic. The swings in the market were...
U.S. seeks $3 billion to boost oil producers as prices plunge
WASHINGTON — The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping up U.S. oil producers after crude prices crashed globally. President Trump had directed the Energy Department last week to fill the United States’ emergency stash...
Layoffs spike in U.S., Europe as virus shuts businesses
WASHINGTON — Just a couple of weeks ago, Erika Vega hoped her temp job at a cafeteria would soon become permanent. But instead, the viral outbreak shut down the building where she worked and left her wondering where her next paycheck will come from. Like millions of Americans and people...
Central banks deploy trillions to keep economy runningVideo
Airlines are warning they may need bailouts as the virus outbreak brings more countries into lockdown, while central banks are injecting trillions of dollars more into the financial system to grease the gears of the global economy. Business confidence is sliding, meanwhile, suggesting major economies are diving into recession. Amid...
Mideast airlines lose $7B as airports shut to combat virusVideo
DUBAI, United Arab Emirates — Seven Middle Eastern countries have suspended all commercial flights due to a fast-spreading new virus as the aviation industry’s largest trade association announced Thursday that airlines in the region have already lost more than $7 billion in revenue. The International Air Transport Association, which represents...
Stocks drop as recession fears take hold; Dow loses 1,300
NEW YORK —Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to raise cash. Markets have...
Apple brings PC-like trackpad to iPad tablets
Apple’s new iPad brings PC-like trackpad capabilities for the first time, as the company seeks to make its tablet even more like a laptop computer. Apple says the trackpad will offer more precision than fingers in selecting text and switching between apps. Older iPads will also be able to get...
Report: Detroit automakers to shut down factories
DETROIT — Detroit’s three automakers have agreed to close all of their factories because of worker fears about the coronavirus, two people briefed on the matter said Wednesday. Automakers are expected to release details of the closure later in the day. The United Auto Workers union has been pushing for...
Volvo recalls vehicles to fix automatic braking malfunction
DETROIT — Volvo is recalling more than 736,000 vehicles worldwide because the automatic emergency braking system may not detect obstacles and stop the vehicles as designed. The recall covers certain 2019 and 2020 S60, V60, S90L and V90 models. The company says in government documents that a software-hardware incompatibility glitch...
Stocks drop on Wall Street despite promises of coronavirus aid
NEW YORK — Stocks are falling sharply on Wall Street in early trading as fears spread that the coronavirus is causing a global recession. The Dow Jones industrials fell 1,100 points, or 5%, in the first few minutes of trading Wednesday. European markets are also down a similar amount and...
Amazon to stop accepting nonessential products for shipment during coronavirus crisis
In attempt to slow the spreading of the novel coronavirus across the U.S., Amazon will block shipments of nonessential products. The move is in response to a significant increase in orders for necessities, according to Business Insider. Amazon on Tuesday told sellers and vendors that it would accept only shipments...
Bidet sales soar as toilet paper sells out amid coronavirus fears
As cases of the coronavirus continue to climb, nothing feels more surreal than the irrational stockpiling of toilet paper, even though experts tell us it isn’t necessary and manufacturers say there is no shortage. Whether it stems from a herd mentality, reading social media posts about toilet paper fights, or...
U.S. revises passenger safety rules for autonomous vehicles
DETROIT — The U.S. government is coming out with new regulations aimed at changing automotive passenger safety standards that could be barriers to autonomous vehicles. The National Highway Traffic Safety Administration says it’s seeking comment on proposed updated standards to account for vehicles that don’t have manual controls such as...
Stocks jump after Trump promises to ‘go big’ on virus aid
NEW YORK — Stocks rallied Tuesday as President Donald Trump promised he’s “going big” with plans to prop up the staggering economy through the coronavirus outbreak. Besides the White House’s proposal, which could approach $1 trillion, the Federal Reserve also announced its latest emergency move to get markets running more...
As part of $850 billion coronavirus response, Trump wants checks sent to public in 2 weeks
WASHINGTON — President Donald Trump is asking Congress to unleash a torrent of emergency economic aid to help people through the financial pain of the coronavirus crisis, with sizable checks directly to Americans as part of the deal. Trump wants checks out to the public within two weeks, Treasury Secretary...
Fallout from coronavirus: Movie theaters close, airlines cut flying, Walmart limits hours
WASHINGTON — U.S. movie theaters are closing nationwide due to the coronavirus pandemic, turning dark nearly all of the country’s 40,000-plus screens in an unprecedented shutdown. United Airlines will slash 50% of its flying capacity in April and May and warns the cuts could extend into the peak summer travel...
Pittsburgh-based American Eagle closing all stores in U.S., Canada
American Eagle Outfitters has closed all stores in the United States and Canada, citing the most recent government recommendations about the spreading coronavirus. The clothing outlet says it hopes to reopen retail stores on March 27, but it will reevaluate as time goes by. American Eagle had already closed some...
Dollar General devotes first hour to senior shoppers
Dollar General is dedicating the first hour of its daily store operations to senior citizens in response to the coronavirus. The discount retailer with stores in 44 U.S. states said starting Tuesday, it is strongly encouraging younger customers to visit later in the day so seniors can shop early and...
Volkswagen to close Europe plants for two weeks
FRANKFURT, Germany — Volkswagen said Tuesday it would close most of its European plants for two weeks because of uncertainty about demand for cars and supplies of parts amid the virus outbreak. CEO Herbert Diess made the announcement at the start of the company’s annual news conference. The dpa news...
McDonald’s closing dine-in areas at corporate-owned restaurants over coronavirus pandemic
McDonald’s will no longer have dine-in or play areas open on Tuesday at its corporate-owned stores because of the coronavirus pandemic. McDonald’s USA announced Monday that it would serve customers who walk in for takeout, order at the drive-thru or use McDelivery. #McDonalds is closing all dining rooms nationwide. #wfsb...
Gyms, day cares among nonessential businesses closing; banks, repair shops, convenience stores stay openVideo
The Legends of Pittsburgh bustled Monday with hand sanitizer-armed gym rats sweating through one more hard workout before the coronavirus pandemic cut off access to their club indefinitely. Monday marked their last chance to do so for at least the next two weeks. The fitness center anchoring a corner of...
Dow dives 2,997 points on fears coronavirus will cause recession
NEW YORK — The U.S. stock market plunged more than 12% Monday for its worst day in more than three decades as voices from Wall Street to the White House said the coronavirus is likely dragging the economy into a recession. The S&P 500 has plummeted nearly 30% since setting...
