Business category, Page 282
Europe fines Google $1.7B in antitrust case
BRUSSELS — Europe’s antitrust regulators slapped Google with a big fine Wednesday for the third time in less than two years, ordering the tech giant to pay 1.49 billion euros ($1.7 billion) for freezing out rivals in the online advertising business. The ruling brings to nearly $10 billion the fines...
U.S. judge blocks oil, gas drilling over climate change
BILLINGS, Mont. — A judge has blocked oil and gas drilling on almost 500 square miles in Wyoming and says the government must consider the cumulative climate change impact of leasing broad swaths of U.S. public lands for oil and gas exploration. The order marks the latest in a string...
Federal Reserve foresees no interest rate hikes in 2019
WASHINGTON — The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes in 2019, dramatically underscoring its plan to be “patient” about any further increases. The Fed said it was keeping its benchmark rate — which can influence everything from mortgages to credit cards to...
Ford shifts gears, boosts new jobs from 850 to 900
DETROIT — Ford Motor Co. is repackaging a previously announced $900 million manufacturing investment in the Detroit area, boosting the number of jobs added from 850 to 900. Most of the new workers will build a new generation of electric vehicle at Ford’s existing factory in Flat Rock, Mich., south...
What Disney gets as its $71.3B buy of Fox assets closes
It’s finally complete. Disney closed its $71 billion acquisition of Fox’s entertainment assets on Wednesday, more than a year after the mega merger was proposed . Disney gets far ranging properties ranging from Fox’s film studios, including “Avatar” and X-Men, to its TV productions such as “The Simpsons” and networks...
Disney closes $71B deal for Fox entertainment assets
Disney has closed its $71 billion acquisition of Fox’s entertainment business, putting “Cinderella,” ”The Simpsons,” ”Star Wars” and “Dr. Strange” under one corporate roof. The deal is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus,...
U.S. negotiators see China pushing back on trade vows
WASHINGTON — Some U.S. negotiators are concerned that China is pushing back against American demands in trade talks as progress slows toward a deal that could give President Trump a boost for his 2020 re-election bid, according to people familiar with the talks. Chinese officials have shifted their stance with...
Facebook to overhaul ad targeting to prevent discrimination
SAN FRANCISCO — Facebook will overhaul its ad-targeting systems to prevent discrimination in housing , credit and employment ads as part of a legal settlement. For the social network, that’s one major legal problem down, several to go, including government investigations in the U.S. and Europe over its data and...
U.S. stocks move higher as market extends winning streak
U.S. stocks moved modestly higher in afternoon trading Tuesday as the market extended a winning streak well into a second week. Health care stocks, technology companies and retailers notched some of the biggest gains. DaVita led the health sector higher, climbing 3.8 percent. Cigna added 3.1 percent. Chipmakers also posted...
Loss of old Myspace artifacts highlights impermanence of the Web
The most surprising thing people may learn about Myspace this week is that it still exists. But the old social network’s accidental purge of 12 years’ worth of its users’ music uploads - that’s an estimated 50 million songs - is probably a close second. The tremendous loss of digital...
Ford shifting 550 jobs to boost SUV production in Kentucky
Ford Motor Co. said Tuesday it will shift 550 jobs to its Kentucky Truck Plant to boost production of its Expedition and Lincoln Navigator vehicles to meet growing demand for its large SUVs. Growing sales for the Expedition and Navigator are driving a 20 percent production boost at the Louisville...
Facebook says no one flagged New Zealand mosque shooting livestream
LONDON — Facebook says none of the 200 or so people who watched live video of the New Zealand mosque shooting flagged it to moderators, underlining the challenge tech companies face in policing violent or disturbing content in real time. The social media giant released new details about its response...
The Incline website purchased; new director named
The Incline news website has a new owner, just two weeks after it announced it was for sale. The Pittsburgh-based website announced on its social media platforms Tuesday it was bought by media company WhereBy.US. The company describes itself as one that builds “local media brands for growing cities, and...
Ligonier chamber plans annual dinner, awards
“Renaissance Year in the Valley” will be the program topic for the Ligonier Valley Chamber of Commerce’s 69th annual dinner, set for March 28 at The Cedars at Antiochian Village, along Route 711 six miles north of Ligonier. This celebration of chamber members, neighbors and the local business community will...
Hollywood employs more workers than mining and farming, MPAA says
The U.S. television and film industry has become a bigger employer than commodities and energy, according to an analysis by the Motion Picture Association of America. The production and distribution of TV shows and movies directly employ more people in 34 states than the combined total from the mining, oil...
Apple refreshes iPad lineup, with larger entry-level model
NEW YORK — Apple has unveiled a new iPad that’s thinner and slightly larger than its current entry-level tablet. The new iPad Air will cost $499 and sport a screen that measures 10.5 inches diagonally. That compares with the standard, 9.7-inch iPad at $329. Apple has a higher-end Pro model...
Facebook says service hindered by lack of local news
NEW YORK — Facebook’s effort to establish a service that provides its users with local news and information is being hindered by the lack of outlets where the company’s technicians can find original reporting. The service, launched last year, is currently available in some 400 cities in the United States....
Be Kind, Please Rewind: Oregon Blockbuster is last on Earth
BEND, Ore. — There are challenges that come with running the last Blockbuster Video on the planet. The computer system must be rebooted using floppy disks that only the general manager — a solid member of Gen X — knows how to use. The dot-matrix printer broke, so employees write...
Pittsburgh region unemployment rate the lowest in 40 years
Unemployment in the Pittsburgh region is at its lowest rate in more than four decades, according to the Pennsylvania Bureau of Labor and Industry. “The best we can say is, it’s the lowest on our records, which start in 1976,” said Lauren Riegel, an industry and business analyst for the...
American Airlines suspends flights to Venezuela
FORT WORTH, Texas — American Airlines is stopping flights to Venezuela because of safety concerns after the pilots’ union told its members to refuse to work the flights. American was the last major U.S. carrier to fly to the troubled country. It flew daily to Caracas and Maracaibo from Miami....
Feds: Penn State should not be permitted to trademark ‘Happy Valley’
Penn State officials are decidedly unhappy after the U.S. Patent & Trademark Office declined a request to trademark the “Happy Valley” nickname for university merchandise. “Happy Valley” is a longtime nickname for the State College area. However, it was that precise geographical association that factored into the office’s decision to...
U.S. industrial production report a sign of slowdown in manufacturing
WASHINGTON — U.S. industrial production rose a slight 0.1 percent in February, as an increase in utilities and mining offset the second straight monthly drop in manufacturing. The Federal Reserve said Friday that the manufacturing component of the index fell 0.4 percent last month, after having fallen 0.5 percent in...
SEC charges Volkswagen, former CEO with defrauding investors
WASHINGTON — U.S. regulators charged Volkswagen and former CEO Martin Winterkorn with defrauding investors during its massive diesel emissions scandal. The charges from the U.S. Securities and Exchange Commission come two years after the German automaker settled with the United States over criminal and civil charges, as the company tries...
Mortgage rates sink to lowest levels in more than a year
Mortgage rates were driven down this week by weak economic data and concerns about global growth. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 4.31 percent with an average 0.4 point. (Points are fees paid to a lender equal to 1 percent...
NYSE move that never happened leaves New York City still paying debt
It was 1998. The internet bubble was building, day-trading was in full swing and the New York Stock Exchange was given the biggest subsidy in the city’s history to stop it from leaving Wall Street for New Jersey — keeping the Y in the NYSE. The plans for a new...
