Business category, Page 28
Video game performers on strike for almost a year over AI issues reach a tentative deal
The union for Hollywood’s video game performers has reached a tentative contract with several video game companies that may bring an end to an almost year-long strike tied to the use of artificial intelligence. Members of the Screen Actors Guild-American Federation of Television and Radio Artists went on strike in...
John Dorfman: Financial stocks have topped charts for past year
The best performing sector in the stock market for the past year has been the unsung financial sector. Its 24% return through May 31 was nearly double the return on the market as a whole. Unlike technology or biotech, financial stocks don’t get people very excited. There’s no tantalizing hint...
Amazon to spend $20B on data centers in Pennsylvania, including one next to nuclear power plant
HARRISBURG — Amazon said Monday that it will spend $20 billion on two data center complexes in Pennsylvania, including one it is building alongside a nuclear power plant that has drawn federal scrutiny over an arrangement to essentially plug right into the power plant. Kevin Miller, vice president of global...
Warner Bros. Discovery to split into 2 companies, dividing cable and streaming services
NEW YORK — Warner Bros. Discovery will split into two public companies by next year, calving off its cable operations from its streaming service. Warner Bros. Discovery said Monday that Streaming & Studios will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, as...
Democrats drawing closer to the crypto industry despite Trump divisions
WASHINGTON — As President Donald Trump builds a crypto empire — including hosting a private dinner with top investors at his golf club — Democrats have united in condemning what they call blatant corruption from the White House. But the Democratic Party’s own relationship with the emerging crypto industry is...
Betsy Wentz Interior Design expands to new trade showroom in Sewickley
Designer Betsy Wentz is her own newest client with a project that involves moving her business to an entirely new location that is much bigger. “We were running out of space,” said Wentz, surrounded by boxes of tiles and rug samples in her Walnut Street store in Sewickley. “We hired...
Dick’s closes Pittsburgh Mills location, plans grand opening at Waterworks
The Pittsburgh Mills mall in Frazer is one step closer to having no remaining anchor tenants. Sunday was the last day of business for the Dick’s Sporting Goods store at the Galleria at Pittsburgh Mills, according to signs posted at the store. A store manager was not permitted to provide...
U.S. Open offers chance to market Pittsburgh, but economic impact is modest, experts say
Economic development leaders hope to show the Pittsburgh region is a diamond beyond the rough at Oakmont Country Club as the U.S. Open unfolds this week before a national audience. Tens of thousands of fans are expected to flock to the world-renowned golf course and millions more will tune in...
Trump looks to sell Tesla after feud with Musk
It was a costly spat. As President Donald Trump and Elon Musk feuded on social media Thursday afternoon, shares of Musk’s Tesla Inc. plummeted more than 14% — erasing $150 billion of the electric vehicle maker’s value. Investors weren’t the only ones looking to dump Tesla. Trump is looking to...
Pittsburgh Mills: From 1-stop shop to disarray
With recent legal developments, including hundreds of township-issued citations, criminal charges and a lawsuit filed by real estate trusts for Walmart and Sam’s Club, Namdar Realty Group, the owners of Pittsburgh Mills mall in Frazer, continues to remain under the microscope for the property’s alleged mismanagement and slow decay. How...
Amazon commits to stepping up fake-review fight after U.K. watchdog’s investigation
LONDON — Amazon has pledged to beef up its fight against fake reviews, Britain’s competition regulator said Friday after an investigation into whether big online platforms are doing enough to crack down on phony online ratings for products and services. The Competition and Markets Authority said it secured the “undertakings”...
Tesla stock plunges as Musk’s feud with Trump over GOP tax bill spooks investorsVideo
Shares of Elon Musk’s electric vehicle maker fell sharply Thursday as investors feared his dispute with President Donald Trump will hurt the company. Tesla closed down more than 14% as a disagreement over the U.S. president’s budget bill turned nasty. After Musk said that Trump wouldn’t haven’t gotten elected without...
The number of Americans filing for jobless benefits last week rises to highest level in 8 months
WASHINGTON — Filings for U.S. unemployment benefits rose to their highest level in eight months last week but remain historically low despite growing uncertainty about how tariffs could impact the broader economy. New applications for jobless benefits rose by 8,000 to 247,000 for the week ending May 31, the Labor...
Fans around the world queue up in long lines for the highly anticipated Nintendo Switch 2 launch
TOKYO — Throngs of gamers stood in long lines outside of stores hours before they opened Thursday from Tokyo to New York City in hopes of snaring a long-awaited Nintendo Switch 2 video game console. Enthusiasts have been clamoring for an upgrade to Nintendo’s eight-year-old predecessor for years. Nintendo, which...
Pampers, Tide maker Procter & Gamble to cut up to 7,000 jobs as companies are buffeted by higher costs
Procter & Gamble will cut up to 7,000 jobs over the next two years as the maker of Tide detergent and Pampers diapers implements a restructuring program at a time when tariffs are raising costs for American companies and consumers are growing anxious about the economy. The job cuts, announced...
Walmart, Sam’s Club sue Pittsburgh Mills mall owners over road conditions
Real estate trusts for Walmart and Sam’s Club are suing the owners of the beleaguered Pittsburgh Mills mall in Frazer, alleging they have failed to maintain the roads there despite being contractually obligated to do so. The lawsuit, filed Wednesday in U.S. District Court of Western Pennsylvania, asks the court...
John Dorfman: Why I’ll continue to invest in gold, at least for another year
About 14 months ago, I wrote a column about gold. “I don’t think gold is an investment for all seasons,” I wrote, “but right now, I think it’s sensible to hold some.” That turned out to be right. Gold is up about 51% since I made that recommendation, including a...
Here’s why McDonald’s is bringing back the fan favorite Snack WrapVideo
If McDonald’s ever doubted it needed to bring back the Snack Wrap, consider this: Nine years after the fast-food powerhouse discontinued the item in the U.S., customers have continued to order it at drive-thrus. Those customers won’t have to leave empty-handed for long. On Tuesday, McDonald’s announced that a new...
Trump’s promised steel and aluminum tariffs go into effect
NEW YORK — President Donald Trump hiked nearly all of his tariffs on steel and aluminum imports to a punishing 50% on Wednesday in a move that’s set to hammer businesses from automakers to home builders, and likely push up prices for consumers even further. Foreign-made steel and aluminum is...
Trump promises to hike steel and aluminum tariffs to 50% starting Wednesday. Here’s what we know
NEW YORK — President Donald Trump has promised to hike nearly all of his tariffs on foreign steel and aluminum to a punishing 50% on Wednesday, a move that would hammer businesses from automakers to home builders, and likely push up prices for consumers. Foreign-made steel and aluminum is used...
UPMC reports $237 million operating income in Q1 2025
UPMC is off to a strong financial start in 2025, with both its health care and insurance services in the black last quarter for a total operating income of $237 million. The health care network made $142 million, while the insurance side — a drag on many recent quarterly reports...
Meta becomes the latest big tech company turning to nuclear power for AI needs
WASHINGTON — Meta has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company. The investment with Meta will also expand the output of a Constellation Energy Illinois nuclear plant. The agreement announced Tuesday is just...
U.S. job openings rose unexpectedly in April, a sign the American labor market remains resilient
WASHINGTON — U.S. job openings rose unexpectedly in April, showing that the labor market remains resilient in the face of uncertainty arising from President Donald Trump’s trade wars. The Labor Department reported Tuesday that employers posted 7.4 million job vacancies in April, up from 7.2 million in March. Economists had...
Dollar General posts record sales as bargain stores attract more people anxious about the economy
Dollar General set a quarterly sales record of $10.44 billion and upgraded its annual profit and sales outlook as Americans tighten their budgets and spend more at bargain stores and off-price retailers amid economic uncertainty. The U.S. economy shrank at a 0.2% annual pace from January through March, the first...
Dave’s Hot Chicken sold to Subway owner Roark Capital in a $1 billion deal
Dave’s Hot Chicken said Monday it has been acquired by the private equity firm Roark Capital in a deal valued at $1 billion. Dave’s Hot Chicken got its start in 2017 as a popup in a Los Angeles parking lot. It has grown exponentially since then and expects to end...
