Business category, Page 25
The unknown costs of Amazon’s $20B promise to build 2 data centers in Pennsylvania
Spotlight PA is an independent, nonpartisan, and nonprofit newsroom producing investigative and public-service journalism that holds power to account and drives positive change in Pennsylvania. HARRISBURG — Amazon plans to spend $20 billion to build two data centers in Pennsylvania, a move that state officials say will generate thousands of...
Powell stands by ‘wait and see’ stance with Trump ramping up attacks on the Federal Reserve
WASHINGTON — Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump’s tariffs effect the economy, defying the steady stream of criticism from the White House, which wants lower...
U.S. job openings in May hit 7.8 million in a continuing display of labor market resilience
WASHINGTON — U.S. job openings rose unexpectedly in May, a sign that the American labor market remains resilien t in the face of high borrowing costs and uncertainty over U.S. economic policy. U.S. employers posted 7.8 million vacancies in May, The Labor Department reported Tuesday, up from 7.4 million in...
How to build a portfolio you don’t have to babysit
If you’re a do-it-yourself investor aiming to build a “no babysitter required” portfolio, here are the key steps to take. Step 1: Find your portfolio’s true north Give due consideration to your asset allocation. That decision will have the biggest impact on how your portfolio behaves in the future. The...
Lululemon’s lawsuit against Costco highlights the rise of fashion ‘dupes’
Fashion “dupes,” or less expensive versions of high-end clothing and other accessories, are just about everywhere these days. They’re also drawing some businesses into legal battles. In the latest example, Lululemon slapped a lawsuit against Costco on Friday, accusing the wholesale club operator of selling lower-priced duplicates of some of...
Under Walmart ownership, Monroeville Mall eyes transformation
As Pittsburgh Mills’ parking lot continues to crater and its owner looks to unload a property that shows the challenge facing malls, a once-vibrant part of American commercialism that has faded, its neighbor to the south — Monroeville Mall — remains on a path toward redevelopment. Monroeville Mayor Nick Gresock...
Judge allows antitrust lawsuit against Apple to proceed
A federal judge on Monday rebuffed Apple’s request to throw out a U.S. government lawsuit alleging the technology trendsetter has built a maze of illegal barriers to protect the iPhone from competition and fatten its profit margins. The 33-page opinion from U.S. District Judge Xavier Neals in New Jersey will...
Boeing names new chief financial officer
In another change to its executive ranks, Boeing has hired a new chief financial officer to lead strategy, business planning and global real estate, the company said Monday. Jesus “Jay” Malave, the former chief financial officer at defense contractor Lockheed Martin, will replace Brian West, the CFO appointed by Boeing’s...
U.S. stocks push further into record heights
NEW YORK — The U.S. stock market added to its record on Monday as Wall Street closed out a second straight winning month. The S&P 500 rose 0.5% in its first trading after completing a stunning recovery from its springtime sell-off of roughly 20%. The Dow Jones Industrial Average added...
Senate GOP tax bill could crush wind and solar power, advocates say
WASHINGTON — Clean energy advocates were already bracing for a Republican-led bill that would phase out tax credits for wind, solar and other renewable energy as President Donald Trump and GOP lawmakers moved to dismantle the 2022 climate law passed by Democrats under former President Joe Biden. But a proposal...
Giant Eagle to use GetGo sale funds for store upgrades, CEO says
Giant Eagle will use the $1.6 billion sale of GetGo to remodel grocery stores, add new ones, reduce prices and grow its pharmacy presence. The grocer’s CEO, Bill Artman, detailed Giant Eagle’s plans to TribLive on Monday, just hours after the company announced it officially sold about 270 GetGo convenience...
Property’s future scrutinized as Pittsburgh Mills mall is up for sale
News that the Pittsburgh Mills mall in Frazer could be for sale was met with reactions ranging from resignation to optimism, but all with a common question: What’s next for the Mills? The news comes in the midst of legal woes, including hundreds of township-issued citations, criminal charges and a...
Bicycle sales hang on despite post-covid sales decline
At the height of the covid-19 pandemic, Chris MacTaggart and his friends had no problem following federal guidelines for outdoor recreation. In May 2020, he and two other cyclists started riding around Pittsburgh to get coffee once or twice a week. It was typical of covid-era social distancing in many...
‘We’d love to have you here’: Pa. chamber courts NYC employers after Mamdani’s win
Progressive Zohran Mamdani’s upset win in New York City’s Democratic mayoral primary has caused a stir among some in the city’s business establishment. It’s also spurred the leader of a Pennsylvania business group to try to take a bite of the Big Apple’s outsize share of the global economy and...
Key inflation gauge rose last month while Americans cut back on spending
WASHINGTON — A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans also cut back on their spending last month. Prices rose 2.3% in May compared with a year ago, up from just 2.1% in April, the Commerce Department said Friday....
Trump says U.S. has signed a deal with China on trade; no details yet
BANGKOK — The U.S. and China have signed an agreement on trade, President Donald Trump said, adding he expects to soon have a deal with India. Commerce Secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week. Neither Lutnick nor Trump provided any details about the...
GetGo’s sale to Canadian company gets Federal Trade Commission approval
Giant Eagle’s sale of its GetGo gas stations and convenience stores looks like it’s a go. The Federal Trade Commission on Thursday gave the green light to Canadian-based Alimentation Couche-Tard to proceed with its acquisition of GetGo. The transaction is expected to close within the upcoming days, according to a...
David Burritt, fresh off $108 million payday, stays as head of U.S. Steel
U.S. Steel’s senior leadership under Nippon Steel is taking shape — and it looks a lot like it did before the buyout. The Japanese firm has elected to retain U.S. Steel president and CEO David Burritt as well many of the executives around him, according to filings with the Securities...
U.S. economy shrank 0.5% between January and March, worse than 2 earlier estimates had revealed
WASHINGTON — The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s trade wars disrupted business, the Commerce Department reported Thursday in an unexpected deterioration of earlier estimates. First-quarter growth was weighed down by a surge of imports as U.S. companies, and households,...
Fewer Americans sought unemployment benefits last week as layoffs remain low
WASHINGTON — The number of Americans applying for unemployment benefits fell last week, the Labor Department said Thursday, a sign that companies aren’t cutting many jobs. Jobless claims dropped 10,000 to 236,000, a historically-low level. The four-week average of claims, which smooths out weekly volatility, dipped 750 to 245,000. Applications...
Podcast: Why are younger people behind on financial literacy?
“Are you saving for retirement?” It’s a question that gets a range of answers, especially across age groups. Some think it’s too early to start; others believe it’s never too soon. Among millennials and Generation Z, one trend stands out: a significant gap in financial literacy. Many young Americans lack...
Trump gets ‘golden share’ power in U.S. Steel buyout. U.S. agencies will get it under future presidents
HARRISBURG — President Donald Trump will control the so-called “golden share” that’s part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange Commission. The provision gives the president the power...
Fed’s Powell repeats warning about tariffs as some GOP senators accuse him of bias
WASHINGTON — Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump’s sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties. On the second day of his twice-yearly testimony before the House and Senate,...
Giant Eagle buys prescription files from another 15 Rite Aid stores, completing buying spree
Giant Eagle has purchased prescription files from another 15 Rite Aid stores as part of a fourth and final wave of transfers from the bankrupt pharmacy chain to the Cranberry-based grocer. Altogether, Giant Eagle has bought files from 83 Rite Aid stores across Pennsylvania and Ohio since late May. The...
1.7 million window AC units recalled nationwide
With extreme heat plaguing Western Pennsylvania, window air conditioners are working overtime across the region. But residents should double check their model. Midea recently recalled about 1.7 million U and U+ window air conditioners nationwide for risk of mold exposure, according to the U.S. Consumer Product Safety Commission. Included in...
