Business category, Page 29
Pittsburgh Mills owners ordered to pay $1.8M in fines over parking lot, landscape citations
After months of mounting criticism over its crumbling parking lots and overgrown landscaping, the owner of the Pittsburgh Mills has been slapped with more than $1.8 million in fines stemming from dozens of maintenance violations. District Judge Michael Girardi handed down the penalties during a July 17 hearing after an...
U.S. economy rebounds a surprisingly strong 3% in the 2nd quarter
WASHINGTON — The U.S. economy expanded at a surprising 3% annual pace from April through June, bouncing back at least temporarily from a first-quarter drop that reflected disruptions from President Donald Trump’s trade wars. America gross domestic product — the nation’s output of goods and services — rebounded after falling...
Trump announces 25% tariff on India starting Friday, unspecified penalties for buying Russian energy
WASHINGTON — President Donald Trump said Wednesday that he’ll impose a 25% tariff on goods from India, plus an additional import tax because of India’s purchasing of Russian oil. Trump said on his Truth Social platform that India “is our friend” but its “Tariffs are far too high” on U.S....
Starbucks looks to protein drinks and other new products to turn around lagging U.S. sales
Starbucks said Tuesday it’s confident that improved store operations and new products — including a cold foam protein drink — will soon help turn around the company’s lagging U.S. sales. In the meantime, slow U.S. demand continues to be a drag on the company’s results. Starbucks reported that its revenue...
Plans to cut red tape for Pittsburgh vendors moves ahead
An effort to slash red tape for street vendors throughout Pittsburgh got the green light Tuesday from the city’s Planning Commission. City Council will make a final decision on the measure — which would expand where vendors can operate and eliminate a cumbersome site-by-site evaluation requirement in most places —...
Union Pacific, Norfolk seek 1st transcontinental railroad through a massive merger
OMAHA, Neb. — Union Pacific wants to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, potentially triggering a final wave of rail mergers across the country. The proposed merger, announced Tuesday, would marry Union Pacific’s vast rail network in the...
John Dorfman: Don’t give up hope, value investors
The numbers are stark. In the 12 months through June, growth stocks returned 19.9%, while value stocks managed only 9.6%. Alas for value investors, the two previous years tell the same story. In 2023 the scorecard showed a return of 30% for growth and 22.2% for value. In 2024 the...
Pittsburgh ‘uniquely positioned’ to lead in physical AI, organizers of upcoming summit say
Pittsburgh will again find itself in the AI economy spotlight in September when it hosts the two-day AI Horizons summit in the East End’s Bakery Square. The summit, in its second year, will focus this year on physical AI — in which artificial intelligence is integrated into physical systems like...
U.S. job openings fell to 7.4 million last month as job market continues to cool
WASHINGTON — Employers posted 7.4 million job vacancies last month, a sign that the American job market continues to cool. The Labor Department reported Tuesday that job openings in June were down from 7.7 million in May. Layoffs were little changed. But the number of people quitting their jobs —...
P&G to increase prices in part due to tariffs as shoppers remain cautious and delay purchases
NEW YORK — Consumer products giant Procter & Gamble offered an annual earnings outlook that was below analysts’ projections and said it would raise prices on about a quarter of its products in the U.S. in part due to higher costs from President Donald Trump’s tariffs. The assessment delivered Tuesday...
Who wants to be a millionaire? 1 in 10 Americans already is but the status loses its luster
NEW YORK — As a child, Heidi Barley watched her family pay for groceries with food stamps. As a college student, she dropped out because she couldn’t afford tuition. In her twenties, already scraping by, she was forced to take a pay cut that shrunk her salary to just $34,000...
Union Pacific and Norfolk seek 1st transcontinental railroad through merger
OMAHA, Neb. — Union Pacific is seeking to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, and potentially trigger a final wave of rail mergers across the country. The proposed merger, announced Tuesday, would marry Union Pacific’s rail network in...
Tea app takes messaging system offline after 2nd security issue reported
Tea, a dating discussion app that recently suffered a high-profile cybersecurity breach, announced late Monday that some direct messages were also accessed in the incident. The app — designed to let women safely discuss men they date — rocketed to the top of the U.S. Apple App Store last week...
EPA set to unravel U.S. authority to regulate greenhouse gases
WASHINGTON — The Trump administration is set to announce its plans to abolish the U.S. government’s authority to regulate greenhouse gases, threatening to strike a deep blow at Washington’s ability to fight climate change. The Environmental Protection Agency will unveil a proposal as early as Tuesday to scrap a landmark...
Skin Solutions Dermatology and Cosmetics debuts walk-in clinic in O’Hara
Getting a prompt dermatologist appointment can be challenging, but a new dermatology practice in O’Hara is taking steps to make appointments a thing of the past — at least on Tuesdays. Skin Solutions Dermatology and Cosmetics offers a same-day, walk-in clinic from 7:30 a.m. to 2 p.m. every Tuesday. Implementing...
The Tea app was intended to help women date safely. Then it got hacked
Tea, a provocative dating app designed to let women anonymously ask or warn each other about men they’d encountered, rocketed to the top spot on the U.S. Apple App Store this week. On Friday, the company behind the app confirmed it had been hacked: Thousands of images, including selfies, were...
McCormick and HUD secretary tour U.S. Steel’s Braddock facility, hint at housing plans
Federal officials hinted Friday morning at plans to build more housing near U.S. Steel’s Edgar Thomson Works as the firm’s new owner, Nippon Steel, prepares to spend big on upgrades. “When you create jobs, there’s a housing need,” said Housing and Urban Development Secretary Scott Turner at a news conference...
Federal regulators approve Paramount’s $8 billion deal with Skydance, capping months of turmoil
NEW YORK — Federal regulators on Thursday approved Paramount’s $8 billion merger with Skydance, clearing the way to close a deal that combined Hollywood glitz with political intrigue. The stamp of approval from the Federal Communications Commission comes after months of turmoil revolving around President Donald Trump’s legal battle with...
Philly cheesesteak maker challenged by the ever-rising cost of beef
PHILADELPHIA — Ken Silver knows beef because he knows Philly cheesesteak. He hopes that a summer spike in how much he pays for his restaurant’s main product doesn’t cause heartburn for him or his customers. Silver, president of Jim’s South St. in Philadelphia, said he might have to raise prices...
New mobile app could help save honeybee hives, protect $20 billion in agriculture
Honeybee colonies in the United States are projected to decline by up to 70% this year, entomologists say. And that could spell economic disaster. According to the American Beekeeping Federation, honeybees contribute about $20 billion to the value of crop production in the country. But master beekeeper Joe Zgurzynski of...
Pa. electric bills to rise after grid manager ups payments to power plants
Electric bills in Pennsylvania could climb as much as 5% as rising rates paid to power plants trickle down the system. That’s according to PJM Interconnection, a regional body that ensures utilities have enough power to supply their customers during peak demand times, like a heat wave or cold snap....
Judge refuses to end lawsuit by U.S. Steel, Nippon against Cleveland-Cliffs
Despite the successful $14.9 billion merger of U.S. Steel and Nippon Steel, attorneys for both companies said Wednesday they plan to proceed with a lawsuit against steelmaker Cleveland-Cliffs and the head of the United Steelworkers union for allegedly conspiring against them to try to block the deal. Cleveland-Cliffs had been...
Turner Dairy Farms receives $750,000 to expand distribution center and automation
From dairy products to iced tea, Turner Dairy Farms in Penn Hills has been a Pittsburgh staple since the 1930s. The company and its reach has expanded. Today, it partners with 35 family-owned dairy farms within a 70-mile radius. With that wide range, the company was in need of an...
U.S. home sales fall in June as prices soar to new heights
LOS ANGELES — Sales of previously occupied U.S. homes slid in June to the slowest pace since last September as mortgage rates remained elevated and national median sales prices hit unprecedented levels. Existing home sales fell 2.7% last month from May to a seasonally adjusted annual rate of 3.93 million...
Trump announces trade deal with Japan that lowers threatened tariff to 15%
WASHINGTON — President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States...
