Business category, Page 292
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...
2019 Nissan Kicks adds new choice in small-crossover market
2019 Nissan Kicks SV: A long test in a new Kia Soul-fighter. Price: $21,425 as tested, including $545 for two-tone paint. Standard items include blind-spot warning, rear cross-traffic alert, and Sirius XM. Conventional wisdom: Motor Trend likes the “strong value, clever interior, kickin’ stereo,” but not “no AWD, seat comfort,...
U.S. housing starts climbed 18.6 percent in January
WASHINGTON — U.S. housing starts jumped 18.6 percent in January, as builders ramped up construction of single-family houses to the fastest pace in eight months. The Commerce Department said Friday that January ground breakings occurred at a seasonally adjusted annual rate of 1.23 million. Home construction rebounded sharply from December,...
U.S. wages rise by most in decade even as hiring tumbles
WASHINGTON — The pace of hiring in the United States fell last month to its lowest point in nearly a year and a half, a surprise drop likely reflecting harsh weather and other temporary factors that led most economists to see the slowdown as a temporary blip. Employers added just...
Economist predicts recession will hold off until 2021
Presidential candidates in 2020 will likely not face an economic recession in the campaign, if a banking leader’s prediction proves true. “Our stance is a recession is perhaps two years away. The U.S. economic expansion continues to about 2021,” Daniel Crawford, managing director and chief investment officer of First National...
For boomers making plans to relocate for retirement, it’s time to get real
When Martha Powers and Larry Gomberg heard the news about Hurricane Florence bringing horrific winds and catastrophic flooding to Wilmington, N.C., they grimaced. Then, they felt relieved. “What if we had decided to build our retirement home there,” they said to each other in September, when the storm was making...
Fed data: Household net worth falls by largest amount since Great RecessionVideo
Total household net worth in the fourth quarter of 2018 dropped by the largest amount since the fourth quarter of 2008 when the country was in the midst of a steep recession, according to data released today by the Federal Reserve. Total household net worth is a measure of the...
Sears at Westmoreland Mall set to close March 17
The Sears department store at Westmoreland Mall is set to close March 17, a mall spokeswoman said. That date could change, according to Stacey Keating, a spokeswoman for CBL Properties of Chattanooga, Tenn., which owns the mall on Route 30 in Hempfield. Neither a Sears store official nor a spokesman...
Facebook’s vision of future? Looks like Chinese app WeChat
LONDON — Facebook CEO Mark Zuckerberg is taking the social media company in a new direction by focusing on messaging. Chinese tech giant Tencent got there years ago with its app WeChat. Zuckerberg outlined his vision to give people ways to communicate privately, by stitching together Facebook’s various services so...
After a decade of doubts, the stock market’s bull chugs on
NEW YORK — The bull market for U.S. stocks turns 10 years old this weekend, which puts it way past senior citizen status for a market run. It’s got the scars to prove it. Since rising from the rubble of the financial crisis in 2009, this bull market has faced...
U.S. stocks fall in morning trading, extending weekly losses
NEW YORK — U.S. stocks moved lower in morning trading Thursday, led by banks and technology companies, putting the market on track for its first losing week since January. Utilities and real estate stocks eked out slight gains as investors moved toward safer holdings. A lack of concrete news on...
5 Charlotte Russe stores in Pittsburgh area among those closing
Charlotte Russe is closing all of its stores, including five in the Pittsburgh region. Liquidation sales started Thursday, according to a message posted on the retailer’s website. Local stores among those listed on the retailer’s website include mall-based locations at Westmoreland, Monroeville, Pittsburgh Mills, Robinson and Ross Park. The young...
Can Zuckerberg really make a privacy-friendly Facebook?
SAN FRANCISCO — After building a social network that turned into a surveillance system, Facebook CEO Mark Zuckerberg says he’s shifting his company’s focus to messaging services designed to serve as fortresses of privacy. Instead of just being the network that connects everyone, Facebook wants to encourage small numbers of...
China’s Huawei launches court challenge to U.S. security law
SHENZHEN, China — Chinese tech giant Huawei is launching a U.S. court challenge to a law that labels the company a security risk and would limit its access to the American market for telecom equipment. Huawei Technologies Ltd.’s announcement Thursday comes as the biggest global maker of network equipment for...
Ghosn’s journey: Star auto executive to masked suspect
Carlos Ghosn, the star auto executive credited with rescuing both Renault and Nissan, left a drab Tokyo detention center Wednesday after more than three months in custody, his identity obscured by a surgical mask, hat and construction worker’s outfit. The jet-setting turnaround wizard was pursued by TV news helicopters as...
UK airline says female flight attendants can drop makeup
DALLAS — Britain’s Virgin Atlantic has dropped a requirement that female flight attendants wear makeup, joining other major carriers that have eased their dress and grooming requirements after complaints about turning female employees into sex objects. Virgin Atlantic announced this week that female cabin crew members can skip the makeup....
Record trade deficit will put pressure on Trump in China talks
WASHINGTON — President Trump fell further behind in his goal of reversing the nation’s trade deficit as the gap in goods soared to an all-time high last year. That’s certain to add pressure on Trump to close a trade deal with China to boost U.S. exports and remove punishing tariffs...
FDA says asbestos found in cosmetics at teen chain Claire’s
The Food and Drug Administration said it found asbestos in certain cosmetics sold by teen chain Claire’s. A consumer alert issued Tuesday advised consumers not to use certain eye shadows, compact powders and contour palettes the agency said tested positive for asbestos, a carcinogen. Claire’s, based in Hoffman Estates, Ill.,...
Nevada cites U.S. warnings in bid to block plutonium shipments
RENO, Nev. — Nevada’s latest bid to block incoming shipments of weapons-grade plutonium points to the U.S. Energy Department’s own scientific warnings about the dangers of prematurely moving the highly radioactive material out of South Carolina. State lawyers say in briefs filed this week with the 9th U.S. Circuit Court...
The Cruze cruises: General Motors assembly plant closing, maybe for good
LORDSTOWN, Ohio — The last compact car rolled off the line Wednesday at General Motors’ massive assembly plant in Ohio as the automaker began moving toward its future while workers wondered about theirs. GM is eliminating all 1,700 hourly positions, perhaps for good, at the factory near Youngstown, the first...
