Business category, Page 283
Toyota investing $750M at 5 U.S. plants, creating 600 jobs
BUFFALO, W.Va. — Toyota Motor Corp. on Thursday announced it is investing an additional $750 million at five U.S. plants that will bring nearly 600 new jobs, including the production of two hybrid vehicles for the first time at its Kentucky facility. It marks yet another expansion of the Japanese...
With Tesla Model Y party, Elon Musk back in the spotlight
Elon Musk needs a win, so he’s taking a page out of a tried-and-true playbook: throwing a party for a product that won’t be available for months before an audience of adoring fans. The Thursday evening unveiling of the Model Y crossover follows a major flop. Tesla Inc.’s attempt to...
Boeing’s 737 Max problems jeopardize $600 billion in orders
Boeing’s $600 billion-plus order book for its 737 Max began shaking after several big customers threatened to reconsider their purchases in the wake of the Ethiopian Airlines crash, the second deadly accident involving the plane since October. VietJet Aviation JSC, which doubled its order to about $25 billion only last...
What a spike in toilet paper sales says about Brexit
While British lawmakers fumble through Brexit negotiations, sales of two items might hint at how the public is bracing for impact: toilet paper and painkillers. On a recent earnings call, David Potts, chief executive of British supermarket Morrisons, said the chain had seen a “small amount” of stockpiling, and that...
Why Wikipedia will go offline for 24 hours in Germany
BERLIN — Online encyclopedia Wikipedia’s German edition will go offline for 24 hours next Thursday as its authors try to rally Europeans against a proposed European Union law that would tighten online copyright regulations. Critics fear that the directive could pose risks to freedom of speech in Europe. If E.U....
OxyContin maker Purdue Pharma considers bankruptcy as lawsuits loom
The company that has made billions selling the prescription painkiller OxyContin said Wednesday that it is considering legal options including bankruptcy, a move that could upend hundreds of lawsuits claiming it had a major role in causing the U.S. opioid drug crisis. “As the company has stated, it is exploring...
Health, tech companies lead U.S. stocks to 3rd straight gain
Health care and technology companies powered stocks broadly higher on Wall Street on Wednesday, giving the market its third straight gain. Boeing briefly dipped, but finished slightly higher, after the United States said it was joining other countries in grounding the company’s 737 Max 8 airplane following a fatal crash...
Spotify files antitrust complaint to EU against Apple
LONDON — Swedish music site Spotify has complained to European Union regulators about Apple for allegedly abusing its dominant position in music streaming and stifling competition. Spotify founder Daniel Ek said Wednesday that the company has filed a formal antitrust complaint with the executive European Commission against Apple — a...
Facebook says it is working to resolve outage on its platforms
Facebook says it is aware of outages on its platforms including Facebook, Messenger and Instagram and is working to resolve the issue. The social media company posted to Twitter Wednesday afternoon, “We’re aware that some people are currently having trouble accessing the Facebook family of apps. We’re working to resolve...
NASA’s new rocket won’t be ready for moon shot next year
CAPE CANAVERAL, Fla. — NASA’s top official says the space agency’s new rocket won’t be ready for a moon shot next year. Administrator Jim Bridenstine told a Senate committee Wednesday he’s considering switching to commercial rockets to preserve the June 2020 launch date. Bridenstine says two commercial rockets would be...
Verizon says 5G network will cost extra $10 a month
A handful of Verizon customers will soon have faster wireless service — but they’ll have to pay $10 a month more. Verizon says it’ll flip the switch next month on a much-hyped, next-generation 5G phone network. Service will start in parts of Chicago and Minneapolis. The offer is available only...
U.S. health officials move to tighten sales of e-cigarettes
WASHINGTON — U.S. health regulators are moving ahead with a plan designed to keep e-cigarettes out of the hands of teenagers by restricting sales of most flavored products in convenience stores and online. The new guidelines, first proposed in November, are the latest government effort to reverse what health officials...
U.S. construction spending up strong 1.3 percent in January
WASHINGTON — Spending on U.S. construction projects in January posted the biggest gain in nine months, as strength in nonresidential construction and government projects offset continued weakness in home construction. The Commerce Department says that construction spending rose 1.3 percent in January following two months of declines. It was the...
As pressure mounts on Boeing, Pittsburgh’s top airline will keep flying 737 Max 8
Pittsburgh International Airport’s leading airline said Tuesday it will continue flying its Boeing 737 Max 8 airplanes as aviation authorities in some countries grounded that model of aircraft following Sunday’s Ethiopian Airlines crash that claimed 157 lives. At least 24 Southwest Airlines flights using the 737 Max 8 came through...
U.S. stock indexes end mostly higher, extending market’s gains
Technology and health care companies led U.S. stock indexes mostly higher Tuesday, building on the market’s solid gains from a day earlier. Boeing weighed down the Dow Jones Industrial Average for a second day as shares in the aircraft maker fell amid safety concerns following another deadly crash involving its...
Dick’s to halt sales of rifles, ammo at 125 of its stores
CORAOPOLIS — Dick’s Sporting Goods said Tuesday that it will stop selling hunting rifles and ammunition at 125 of its stores, replacing the gear with merchandise it believes will sell better at those locations. CEO Edward Stack said the move comes after the sporting goods retailer replaced hunting merchandise in...
Lumber Liquidators paying $33M to settle U.S. fraud charges
WASHINGTON — Lumber Liquidators will pay $33 million to settle fraud charges by federal authorities who accused the company of falsely saying its Chinese-made laminate flooring met formaldehyde emissions standards. The company, based in Toano, Virginia, is one of the biggest retailers of flooring products in the United States. Its...
Facebook users fleeing by the millions, report says
Facebook users are fleeing the platform, with as many as 15 million fewer people on the site in the United States than in 2017, according to a new report. Edison Research found that, while nearly 80 percent of Americans use various forms of social media, fewer and fewer are opting...
At age 30, World Wide Web is ‘not the web we wanted’
GENEVA — At the ripe old age of 30 and with half the globe using it, the World Wide Web is facing growing pains with issues like hate speech, privacy concerns and state-sponsored hacking, its creator says, trumpeting a call to make it better for humanity. Tim Berners-Lee on Tuesday...
U.S. consumer prices rose 0.2 percent in February
WASHINGTON — U.S. consumer prices rose 0.2 percent in February, pushed up slightly by higher gasoline and housing costs even as the prices for autos and clothing slumped. The Labor Department said Tuesday that the consumer price index rose a modest 1.5 percent last month from a year ago. Inflation...
Honda recalls 1.2M more vehicles with dangerous air bags
DETROIT — Honda is recalling about 1.2 million vehicles in North and Central America because their Takata air bag inflators can explode and send shrapnel into the passenger compartment. The recall covers many Honda and Acura models from 2001 through 2016. Takata used ammonium nitrate to inflate air bags. But...
Erie Brewing to buy Millcreek Brewing
Millcreek Brewing Co. in Millcreek Township will soon have a new owner. The brewpub, owned by Craig Sheehan and Frank Kneidinger, is being sold as of March 31 and will become a new location of the Erie Brewing Co., according to Heidi Sheehan, business manager for Millcreek Brewing. The business,...
Tesla walks back its plan to close most showrooms
DETROIT — Tesla is walking back plans to close most of its showrooms worldwide and announced price hikes for most of its electric vehicles. Tesla announced last month that it would shutter most of its stores to cut costs so it could sell its lower-priced Model 3 for $35,000. The...
Aerospace materials testing fuels Unity firm’s expansionVideo
Metal materials that could become part of a jet airplane have to be capable of enduring extremes of heat and pressure. Product Evaluation Systems in Unity is a growing part of an industry that makes sure those critical building blocks meet required standards of strength and durability. As PES marks...
Penguins announce new development team, start of construction at Civic Arena site
The Penguins on Friday announced a new team for redevelopment of the former Civic Arena site in Pittsburgh’s Hill District and that the first phases of construction would begin by year’s end. Penguins President and CEO David Morehouse said in a statement that the Buccini/Pollin Group would serve as master...
