Business category, Page 281
Whole Foods lowering prices in move to shake ‘Whole Paycheck’ nickname
In a move to keep up with Walmart and other large chains, as well its continuing effort to change their image as a high-cost grocer, Whole Foods is lowering prices on hundreds of items on Wednesday. The company announced that they are cutting prices on fresh produce and expanding weekly...
Add Biogen, Walgreens to the Casualty List
Biogen Inc. and Walgreens Boots Alliance head my Casualty List this quarter. The list is for stocks that have been slammed in the latest quarter, and that I think have potential to regain their losses and then some. Over the years, the Casualty List has averaged a 17.3 percent gain...
U.S. safety agency opens probes into Hyundai, Kia fires
DETROIT — The U.S. government’s highway safety agency has decided to open two new investigations into fires involving Hyundai and Kia vehicles after getting complaints of more than 3,100 fires and 103 injuries. The National Highway Traffic Safety Administration says it granted a petition seeking the investigations from the nonprofit...
U.S. retail sales declined 0.2% in February
WASHINGTON — U.S. retail sales fell in February, as consumers pulled back their spending on building materials, groceries, furniture, electronics and clothing amid signs of a slowing economy. The Commerce Department said Monday that retail sales fell 0.2% in February, after posting an upwardly revised gain 0.7% in January. Over...
Thinking ahead: How to prepare next year’s tax filing now
If you weren’t happy with your tax bill this year, or you’re worried about next year’s, this is the time to take action. CHECK YOUR WITHHOLDINGS If you do only one thing, review the withholdings on your paycheck. The tax overhaul changed how much employers withhold from paychecks. If you...
Lyft’s shares soar as investors bet on ride-hailing future
Lyft’s shares soared as the company went public Friday, giving investors their first chance to bet on the future of the ride-hailing industry. The stock opened at $87.24, up 21 percent from its offering price of $72. Lyft won the race with its much larger rival Uber to go public,...
U.S. new-home sales increased 4.9 percent in February
WASHINGTON — Sales of new U.S. homes climbed 4.9 percent in February, an indication that falling mortgage rates have given a boost to demand from buyers. The Commerce Department said Friday that new homes sold at a seasonally adjusted annual rate of 667,000 in February, an increase from an upwardly...
U.S. consumer spending edges up weak 0.1 percent in January
WASHINGTON — U.S. consumer spending edged up a tiny 0.1 percent in January, while incomes advanced a modest 0.2 percent in February, further evidence that economic activity may have decelerated after strong growth for most of last year. The Commerce Department said Friday that the weak gain in consumer spending...
Trump’s small-business health insurance plan struck down
WASHINGTON — A federal judge is striking down the Trump administration’s highly touted small-business health insurance plan, calling it an “end run” around consumer protections. The ruling Thursday by U.S. District Judge John Bates in Washington, D.C., is the second setback in a week for the administration’s health care initiatives....
4 issues home buyers will face this spring
As the spring home buying market kicks into high gear, house hunters may be mostly focused on lining up their financing and finding a place to purchase. While affordability and availability are two important aspects of the process, Dana Bull, a real estate agent with Sagan Harborside Sotheby’s International Realty...
Fatburger restaurants will now be called Skinnyburger
So many people were ordering Skinnyburgers at Fatburger that a name change was needed. FAT Brands Inc. announced Wednesday that it is renaming its Fatburger restaurants after its best-selling menu item. The 70-year-old burger chain had already put a healthy spin on their moniker by saying FAT stood for “Fresh,...
Facebook extends ban on hate speech to ‘white nationalists’
SAN FRANCISCO — Facebook is extending its ban on hate speech to prohibit the promotion and support of white nationalism and white separatism. The company previously allowed such material even though it has long banned white supremacists. The social network said Wednesday that it didn’t apply the ban previously to...
Apple vs. Netflix: Why turf wars are flaring in big tech
Apple’s latest move into streaming video illustrates an escalating trend: Tech’s biggest companies, faced with limits to their growth, are encroaching on each other’s turf. Apple is taking on Netflix. Facebook is edging into Amazon’s sphere with its e-commerce plans. Google, which has already challenged Amazon and Microsoft in cloud...
U.S. trade gap falls 15 percent to $51.1 billion in January
WASHINGTON — The U.S. trade deficit tumbled nearly 15 percent in January as imports fell and exports rose. Shipments of American goods to China skidded to the lowest level in more than eight years as the world’s two biggest economies remained locked in a trade war. The Commerce Department said...
Newspapers largely shun Apple’s news subscription service
NEW YORK — Many newspaper publishers — after suffering for a decade from job losses, shrinking ad dollars and circulation declines — are so far shunning Apple’s new “Netflix for news” subscription. For $10 a month, Apple News Plus offers articles from more than 300 magazines, but only three newspapers....
5 reasons why you’ll want Apple’s radical new credit cardVideo
The company that asked you to “Think Different” about computers and phones now wants to change the way you shop. Apple on Monday announced expansions to services such as TV and gaming but one of the biggest game changers may be its upcoming credit card. You can already buy things...
5 questions Congress will have for Boeing, FAA this week
The relationship between Boeing and the Federal Aviation Administration, which has set the global standard in aviation safety for decades, will come under unprecedented scrutiny this week after two deadly airline crashes. Both accidents involved a Boeing jet green-lighted by the U.S. regulator, which relied heavily on safety assessments made...
Dick’s Sporting Goods closing Century III Mall store
A sign at the declining Century III Mall in West Mifflin says the Dick’s Sporting Goods store there is closing on Saturday. The notice follows a decision by a bankruptcy judge earlier this month to reject the Dick’s lease at the mall, where the sporting goods retailer has had an...
Apple takes on Netflix, will debut streaming TV service this fall
CUPERTINO, California — Apple says its new subscription TV service will be available this fall. But the company isn’t saying yet how much the service will cost or when exactly it will launch. Apple announced the service, Apple TV Plus, at an event Monday in Cupertino, California, where it also...
Kraft Heinz can’t count on ketchup to save it from the future of food
What went wrong at Kraft Heinz Co.? Years before last month’s jaw-dropping $15.4 billion writedown, the company had been on a mission to make over some of its quintessential products, removing maligned ingredients from its mac and cheese and hot dogs to better compete with newer, more natural upstarts. The...
U.S. average mortgage rates fall; 30-year at 4.28 percent
WASHINGTON — U.S. long-term mortgage rates fell this week, giving an incentive to potential buyers as the spring homebuying season opens. Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage declined to 4.28 percent from 4.31 percent the previous week. Mortgage rates have fallen substantially since...
Levi Strauss readies for prime time in the public markets
NEW YORK — Levi Strauss & Co., which gave America its first pair of blue jeans, is public again, for the second time. The 166-year-old company, which owns the Dockers and Denizen brands, previously went public in 1971, but the namesake founder’s descendants took it private again in 1985. The...
In IPO filing, Lyft outlines reasons ride-sharing could fail
Lyft is due to be the first giant tech startup to list its shares on the stock market this year — and it has laid out all the roadblocks that could derail not only its own business, but the ride-sharing industry itself. From dockless scooters and bicycles to self-driving cars,...
TRONIX3D opening WCCC partnership March 28
TRONIX3D will hold a grand opening at 4:30 p.m. March 28 for its new partnership with Westmoreland County Community College’s Advanced Technology Center. The ribbon-cutting ceremony will be held at the Advanced Technology Center, 1001 Technology Drive, Suite 1029, Mt. Pleasant, in conjunction with the Westmoreland County Chamber of Commerce....
Fed news sends bond yields sharply lower; stocks mixed
Banks led U.S. stocks mostly lower Wednesday after a brief rally sparked by the Federal Reserve’s latest policy update faded. The real action centered in the bond market, where prices rose sharply, pulling Treasury yields down to the lowest levels they’ve seen in more than a year. The central bank...
