Business category, Page 34
Tariffs spark fireworks order cancellations as America’s 250th looms
Steve Kubrick believes he might have dodged a bullet for buying his fireworks for an Independence Day display in New Kensington last year before the U.S. tariffs on China came in. “I bought mine last year,” said Kubrick, owner of the AK Valley Park in New Kensington. “That might have...
March home sales slowed in a lethargic opening to the spring buying season
Sales of previously occupied U.S. homes slowed in March, a sluggish start to the spring homebuying season as elevated mortgage rates and rising prices discouraged prospective home shoppers. Existing home sales fell 5.9% last month from February to a seasonally adjusted annual rate of 4.02 million units, the National Association...
Pastor calls for ‘full Target boycott’ over concerns about diversity, equity, inclusionVideo
ATLANTA — The pastor of a Georgia megachurch who led a nationwide 40-day “fast” boycott of Target stores over the retail chain’s commitment to diversity initiatives is now calling for that effort to continue as a “full Target boycott.” The Rev. Jamal Bryant said this week that the Minneapolis-based retailer...
A dozen states sue Trump administration to stop tariff policy
NEW YORK — A dozen states sued the Trump administration Wednesday in the U.S. Court of International Trade in New York to stop its tariff policy, saying it is unlawful and has brought chaos to the American economy. The lawsuit said the policy put in place by President Donald Trump...
Feds OK settlement between Shapiro, grid manager to control electricity prices
Federal regulators approved a deal between Gov. Josh Shapiro and PJM Interconnection to limit some electricity price hikes. PJM is a regional transmission organization, which works to secure generation capacity for utility companies within its 13-state network. It holds annual auctions in which the lowest bidder earns the right —...
26 Walmart stores in Pa. to be remodeled
Walmart announced Wednesday it plans to remodel 26 stores across Pennsylvania this year, including some local shops. The nearest stores in the greater Pittsburgh area getting remodeled include Richland, Harrison, Johnstown, Washington, Somerset, Monaca and Punxsutawney. The remodels will focus on enhancing the associate experience and community engagement, Walmart said....
New York City firm gets initial OK for solar farm on site of former Unity stone quarry
A New York City-based solar farm developer has passed the first hurdle in its plan to develop an array along a rural road in Unity. The township zoning hearing board on Tuesday unanimously approved a special exception that will allow CVE North America to pursue installation of a solar farm...
Trump says he has no intention of firing Fed chief Jerome Powell
President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates. “Never did,” Trump told reporters on Tuesday. “The press runs away with things. No, I have no intention of firing...
Hillandale Farms, giant egg producer, sells for $1.1B
Hillandale Farms, among the nation’s top egg producers with a corporate office in Hempfield, was sold last month for $1.1 billion to a Luxembourg-based company. Hillandale Farms, founded by Orland Bethel in 1958, sold its 20-million chicken operations in late March to Global Eggs, according to news reports. Hillandale Farms...
Treasury secretary says trade war with China is not ‘sustainable’Video
WASHINGTON — Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown against China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies. But in a private speech in Washington for JPMorgan Chase, Bessent also cautioned that talks between...
Elon Musk says he’ll spend less time in Washington and more time running Tesla after its profit plunges
NEW YORK — Elon Musk says he’ll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big drop in profits. Musk said on a conference call with analysts Tuesday that “now that the major work of establishing Department...
Wall Street rallies, recovers Monday’s losses as the dollar and U.S. bond market steady
NEW YORK — Stocks jumped in a widespread rally Tuesday, and other U.S. investments steadied a day after falling sharply on worries about President Donald Trump’s trade war and his attacks on the head of the Federal Reserve. The S&P 500 climbed 2.5%. The Dow Jones Industrial Average rose 1,016...
Gold soars to a new high as economic uncertainty deepens. Here’s what to know
NEW YORK — As economic uncertainty deepens worldwide, gold prices have notched more and more record highs. That’s because gold sales can rise sharply when anxious investors seek “safe havens” for parking their money. Gold’s current rally arrives as President Donald Trump’s announces new tariffs on economic allies and foes...
U.S. and global economic outlook deteriorates in Trump trade war, IMF says
WASHINGTON — The U.S. and global economies will likely slow significantly in the wake of President Donald Trump’s tariffs and the uncertainty they have created, the International Monetary Fund said Tuesday. The IMF said that the global economy will grow just 2.8% this year, down from its forecast in January...
Walgreens to pay up to $350 million in U.S. opioid settlement
Walgreens has agreed to pay up to $350 million in a settlement with the U.S. Department of Justice, who accused the pharmacy of illegally filling millions of prescriptions in the past decade for opioids and other controlled substances. The nationwide drugstore chain must pay the government at least $300 million...
Sellers of secondhand clothes prepare for tariffs to give their businesses a boost
NEW YORK — Stores selling secondhand clothes, shoes and accessories are poised to benefit from President Donald Trump’s trade war even as businesses the world over race to avert potential damage, according to industry experts. American styles carry international influence, but nearly all of the clothing sold domestically is made...
Trump renews attacks on Federal Reserve Chair Powell, accelerating U.S. market slide
WASHINGTON — President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy. Trump called Powell “a major loser” and said that energy and grocery prices are “substantially lower” and “there is virtually...
Google faces off with U.S. government in attempt to break up company in search monopoly case
Google is confronting an existential threat as the U.S. government tries to break up the company as punishment for turning its revolutionary search engine into an illegal monopoly. The drama began to unfold Monday in a Washington courtroom as three weeks of hearings kicked off to determine how the company...
Wall Street, dollar tumble as investors retreat further from the United States
NEW YORK — Wall Street weakened Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order. The S&P 500 sank 2.4% in another wipeout. That yanked the index that’s at...
Strollers and other baby products will get more expensive — and harder to find — with tariffs
Sam Rutledge and his wife have a baby due in mid-July, so they thought they had a few more months to research and buy the gear they’ll need. But President Donald Trump’s tariff announcement in early April turned the couple’s slow walk into a sprint. In the past few weeks,...
Team that resurrected dire wolf has Pitt, Penn State connectionsVideo
Some of the scientific groundwork that paved the way for a rebirth of the long-extinct dire wolf took place in Pennsylvania. With much fanfare, Texas company Colossal Biosciences announced April 7 that its scientists had returned the dire wolf, a species extinct for more than 10,000 years, “to its rightful...
Power tools: Robotics research at Carnegie Mellon aims to revolutionize everyday tasksVideo
At this year’s Consumer Electronics Show, the world’s foremost tech conference, farming machinery giant Kubota introduced Flash, a vehicle-mounted camera that creates ultra-detailed images to help farmers care for their crops. It was an idea born in a Carnegie Mellon University robotics lab and another example of the revolutionary technology...
Strange sell-off in the dollar raises specter of investors losing trust in U.S. under Trump
NEW YORK — Among the threats tariffs pose to the U.S. economy, none may be as strange as the sell-off in the dollar. Currencies rise and fall all the time because of inflation fears, central bank moves and other factors. But economists worry that the recent drop in the dollar...
Capital One $35 billion purchase of Discover Financial gets regulatory approvals
NEW YORK — The pending merger between Capital One and Discover Financial services received approval from several regulators Friday, bringing the $35 billion tie-up closer to completion. The Federal Reserve and the Office of the Comptroller of the Currency signed off on the deal, which was first announced in February...
Federal judge pausing Trump administration’s plans for mass layoffs at the CFPB
WASHINGTON — A federal judge who blocked the Trump administration from dismantling the Consumer Financial Protection Bureau ruled Friday that the bureau can’t go forward immediately with plans to mass fire hundreds of employees. U.S. District Judge Amy Berman Jackson said she is “deeply concerned” that administration officials aren’t complying...
