Business category, Page 32
Disney to build its 7th theme park, this one in the United Arab Emirates
Disney will build its seventh theme park, this one in the United Arab Emirates, the entertainment company said Wednesday. The waterfront resort will be built on Yas Island on the outskirts of Abu Dhabi city, already home to Formula One’s Abu Dhabi Grand Prix, the Ferrari and Warner Bros. amusement...
Little turbulence at Pittsburgh International as Real ID rules take effect
Tracy Moffat experienced only a minor hiccup with her Real ID as she used it for the first time Wednesday to fly from Boston to Pittsburgh. The identification requirement, which went into effect Wednesday, mandates anyone 18 or older present a Real ID or other acceptable identification — like a...
U.S. trade deficit hits record high as businesses, consumers try to get ahead of Trump tariffs
NEW YORK — The U.S. trade deficit soared to a record $140.5 billion in March as consumers and businesses alike tried to get ahead of President Donald Trump’s latest and most sweeping tariffs — with federal data showing an enormous stockpiling of pharmaceutical products. The deficit — which measures the...
What customers can expect as Rite Aid closes or sells all its drugstores
Rite Aid customers can expect their local store to close or change ownership in the next few months, as the struggling drugstore chain goes through another bankruptcy filing. The company plans to sell customer prescription files, inventory and other assets as it closes distribution centers and unloads store locations. Stores...
What your net worth statement is telling you
A summary of all your assets and liabilities is a crucial first step toward getting a better handle on your finances. Before you start putting together a net worth spreadsheet, gather as much information as you can to get the best sense of what it can tell you. Overall net...
U.S. expands attempt to blow up Google with proposed teardown of its ad technology
The U.S. Justice Department is doubling down on its attempt to break up Google by asking it to give up the underlying technology powering the company’s digital ad network. The proposed remedy joins a separate federal effort to separate the Chrome browser from its dominant search engine. The government’s latest...
Wall Street loses ground, breaking 9-day winning streak, and crude oil prices tumbleVideo
NEW YORK — Stocks closed lower Monday on Wall Street, breaking a nine-day winning streak, as oil prices hit a four-year low after the OPEC+ group announced plans to increase output. The losses came amid a relatively calm day of mostly mixed trading. They follow several weeks of gains that...
OpenAI reverses course, says its nonprofit will continue to control its business
After months spent pursuing a plan to convert itself into a for-profit business, OpenAI is reversing course and said Monday its nonprofit will continue to control the company that makes ChatGPT and other artificial intelligence products. “We made the decision for the nonprofit to stay in control after hearing from...
Rite Aid returns to bankruptcy protection as it seeks to sell all assets
Rite Aid is again seeking bankruptcy protection as the struggling drugstore chain says it will try to sell substantially all of its assets. The company said Monday that its stores will remain open as it returns to Chapter 11 bankruptcy proceedings. The company said it will work to ensure that...
Newark airport radar loss left controllers blind for 90 secondsVideo
WASHINGTON — Air traffic controllers guiding planes bound for Newark Liberty International Airport lost radar and radio communication for more than a minute early last week before flights at the key hub were snarled for days, according to people familiar with the matter. The outage of those key systems occurred...
Federal Reserve likely to defy Trump, keep rates unchanged this week
WASHINGTON — The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs. After causing a sharp drop in financial markets two weeks ago by saying he could fire Fed...
Warren Buffett to remain chairman at Berkshire Hathaway when Abel takes over as CEO in 2026
Billionaire Warren Buffett will remain chairman of Berkshire Hathaway when vice chairman Greg Abel takes over as CEO to begin 2026. The board of directors at the cash-rich conglomerate voted Sunday to keep the legendary 94-year-old investor as head of the board, a decision likely to relieve investors worried about...
How the stock market made back all its losses after Trump escalated the trade war
It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump’s “Liberation Day.” That’s when he shocked Wall Street by announcing much steeper tariffs than expected on nearly all U.S. trading partners. Those...
Warren Buffett shocks shareholders by announcing plan to retire at end of year
OMAHA, Neb. — Billionaire Warren Buffett shocked an arena full of shareholders Saturday by announcing that he will retire at the end of the year, bringing the curtain down on a six-decade run leading Berkshire Hathaway that made him the most influential investor in the world. Buffett said he will...
Warren Buffett shocks shareholders by announcing his intention to retire at the end of the year
OMAHA, Neb. — Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year. Buffett said he will recommend to Berkshire Hathaway’s board that Greg Abel should become CEO at the end of the year. “I think the...
Steelmaker Cleveland Cliffs to idle 3 steel plants in Pennsylvania and Illinois
HARRISBURG — Steelmaker Cleveland-Cliffs will indefinitely idle three steel plants this summer, saying Friday it is being buffeted by sluggish demand and pricing for some products, including high carbon steel sheets. The company said the idling of two Pennsylvania plants, one in Steelton and one in Conshohocken, and one in...
Wall Street extends its gains to a 9th straight day, reclaiming losses since tariff escalation
Wall Street extended its gains to a ninth straight day, marking its longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April. The rally on Friday was spurred by a better-than-expected report on the job market and resurgent...
Color analysis, collectibles and women’s fitness: Westmoreland County welcomes 3 new businesses
Friends Angela Vaslavsky and Sarah Thompson knew it was time for a life change. But neither of the Unity residents imagined they would discover that change when they went to House of Colour Mt. Lebanon to receive a personal color analysis. “We were on a self-care journey ourselves,” Thompson said....
Trump signs executive order directing federal funding cuts to PBS and NPR
WASHINGTON — President Donald Trump on Thursday signed an executive order aiming to slash public subsidies to PBS and NPR as he alleged “bias” in the broadcasters’ reporting. The order instructs the Corporation for Public Broadcasting and other federal agencies “to cease Federal funding for NPR and PBS” and further...
Microsoft hikes Xbox prices worldwide as gaming industry faces tariff uncertainty
NEW YORK — As new tariffs continue to strain global supply chains, some gamers are already feeling price hikes. Microsoft raised recommended retailer pricing for its Xbox consoles and controllers around the world this week. Its Xbox Series S, for example, now starts at $379.99 in the U.S. — up...
Employers added a surprising 177K jobs as job market shows resilience
WASHINGTON — American employers added a better-than-expected 177,000 jobs in April as the job market showed resilience in the face of President Donald Trump’s trade wars. Hiring was down slightly from a revised 185,000 in March and came in above economists’ expectations for a modest 135,000. The unemployment rate remained...
Trump says it’s Biden’s economy, but businesses, economists beg to differ
WASHINGTON — When the stock market was climbing in January 2024, Donald Trump knew exactly who deserved credit: Himself. Nearly a year before his return to the White House, he declared on his Truth Social platform that investors were celebrating his lead in the polls against President Joe Biden. When...
Apple posts stronger-than-expected Q2 results, says majority of U.S. iPhones sold will come from India
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s...
Kohl’s ousts CEO Ashley Buchanan after investigation into conflicts of interest
Kohl’s said it has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl’s named Chairman Michael Bender as interim CEO, effective immediately. In connection with the appointment, Bender will step down as...
Over 2 million Ninja-branded pressure cookers recalled amid reports of serious burn injuries
NEW YORK — SharkNinja is recalling more than 2 million pressure cookers sold in the U.S. and Canada — after consumers reported over 100 burn injuries spanning from a hazard that can cause hot food to spew out. According to a recall notice published by the U.S. Consumer Product Safety...
