Business category, Page 35
Mack Trucks to lay off hundreds of workers at Pa. plant, with company blaming tariffs, other factors
Mack Trucks will lay off 250 to 350 workers at its Lehigh Valley Operations plant in Lower Macungie Township because of tariffs and other economic factors. A Mack spokesperson said heavy-duty truck orders “continue to be negatively affected by market uncertainty about freight rates and demand, possible regulatory changes, and...
News media hail Google ‘monopoly’ ruling
News media organizations applauded a federal judge’s ruling Thursday that Google, the premier internet search engine, illegally monopolized the lucrative online advertising market. U.S. District Judge Leonie Brinkema ruled that Google, a $348 billion behemoth owned by Alphabet Inc., created a monopoly over advertising software used by publishers. “This ruling...
Google’s digital ad network declared an illegal monopoly, joining its search engine
SAN FRANCISCO — Google has been branded an abusive monopolist by a federal judge for the second time in less than a year, this time for illegally exploiting some of its online marketing technology to boost the profits fueling an internet empire currently worth $1.8 trillion. The ruling issued Thursday...
UnitedHealth’s worst drop in decades weighs on U.S. indexes even as most stocks tick higher
NEW YORK — The worst plunge for UnitedHealth Group’s stock in more than a quarter century is weighing on Wall Street, even as most stocks ticked higher. The S&P 500 was 0.1% lower in its final day of trading for a holiday-shortened week. The Dow Jones Industrial Average was down...
Columbia Gas seeks 11.3% hike; consumer advocate claims rate is higher
Columbia Gas of Pennsylvania wants to boost the monthly gas bill of a typical residential customer 11.3%, but a state consumer advocate says the change could be illegal. The gas distribution rate hike from Columbia Gas would raise the average residential monthly gas bill from $138.50 to $154.30, while small...
Heritage Valley CEO: Sewickley hospital here to stay, even as system consolidates
The head of Heritage Valley Health System says the network’s Sewickley hospital isn’t going anywhere, despite the upcoming closure of its Kennedy counterpart. “Clearly, there is a need for a hospital in that Sewickley community,” Heritage Valley President and CEO Norm Mitry told TribLive. “We don’t foresee any negative impact...
Trump suggests he can remove Fed Chair Powell, saying he’s ‘not happy’ with him over interest rates
WASHINGTON — President Donald Trump attacked Federal Reserve Chair Jerome Powell on Thursday for not cutting interest rates and said he could fire him if he wanted to, renewing a threat from his first term that could cause a major legal showdown over the issue of the central bank’s longstanding...
Trump administration plans to end IRS Direct File program for free tax filing, AP sources say
WASHINGTON — The Trump administration plans to eliminate the IRS’ Direct File program, an electronic system for filing tax returns directly to the agency for free, according to two people familiar with the decision. The program developed during Joe Biden’s presidency was credited by users with making tax filing easy,...
U.S. stocks drop as Nvidia slides and the fog of Trump’s trade war thickens
NEW YORK — U.S. stocks fell Wednesday after Nvidia warned new restrictions on exports to China will chisel billions of dollars off its results, while companies around the world said President Donald Trump’s trade war is clouding forecasts for how they and the economy will do this year. The S&P...
Powell says Federal Reserve can wait on any interest rate moves
WASHINGTON — The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday. “For the time being, we are well positioned to wait for greater clarity” on...
Diana Kauffman Designs opens newest location in Sewickley
Diana Kauffman recently opened her largest store to date in Sewickley — and retail wasn’t something she was interested in when she began creating jewelry for wholesale in a 500-square-foot studio on Division Street. Today, she fashions each one-of-a-kind piece in her new spacious boutique, Diana Kauffman Designs, which opened...
Retail sales rise 1.4% in March as shoppers stock up on big ticket items ahead of tariffs
NEW YORK — U.S. shoppers increased their shopping last month, fueled by a spending spree on big ticket items from gadgets to cars before President Donald Trump’s expansive new tariffs started kicking in. Retail sales rose 1.4% in March, after rising 0.2% in February, according to the Commerce Department. Retail...
China’s economy grows at 5.4% annual pace in January-March quarter
BANGKOK — China’s economy expanded at a 5.4% annual pace in January-March, supported by strong exports ahead of U.S. President Donald Trump’s rapid increases in tariffs on Chinese exports, the government said Wednesday. Analysts are forecasting that the world’s second largest economy will slow significantly in coming months, however, as...
John Dorfman: Netflix, Crocs, 19 other stocks make 30-30 Club
In today’s tumultuous market climate, it’s hard to know what stocks to hold. But the stocks of outstanding companies always deserve a look. Consider the members of my 30-30 Club. In baseball, the 30-30 Club includes players who hit 30 home runs and steal 30 bases in a year. My...
Ranchers cautiously optimistic Trump’s tariffs will boost demand for cattle
OMAHA, Neb. — Rancher Brett Kenzy hopes President Donald Trump’s tariffs will make imported beef expensive enough that Americans will turn to cattle raised at home for all their hamburgers and steaks. That might raise prices enough to give Kenzy and others the incentive they need to expand their herds...
Wall Street drifts in a rare quiet day following weeks of tariff turmoil
NEW YORK — U.S. stocks are drifting Tuesday in a rare quiet day for financial markets worldwide, for now at least. The S&P 500 was up 0.2% in early trading, though it’s been prone to huge swings not just day to day but also hour to hour. It’s regularly careened...
Xi makes a case for free trade, presenting China as a source of ‘stability and certainty’
BANGKOK — China’s Xi is making the case for free trade as he tours Southeast Asia this week, presenting China as a source of “stability and certainty.” On Monday, he was welcomed to Hanoi with pomp and ceremony by Vietnam’s President Luong Cuong. He arrived in Kuala Lumpur, Malaysia’s capital,...
Japan’s chief trade negotiator to visit Washington for tariff talks this week
TOKYO — Japan’s chief trade negotiator will visit the United States this week for talks aimed at convincing U.S. President Donald Trump to remove tariff measures against the East Asian country, officials said Tuesday. Economic Revitalization Minister Ryosei Akazawa will be in Washington from Wednesday to Friday for talks with...
South Korea to boost support of semiconductor industry in the face of Trump’s tariffs
SEOUL, South Korea — South Korea said Tuesday it will expand its financial support package for its crucial semiconductor industry to about $23 billion in part of efforts to address uncertainties posed by the Trump administration’s tariff hikes. The package represents roughly a 26% increase from the nearly $18 billion...
Meta CEO Mark Zuckerberg takes the stand in historic antitrust trial
WASHINGTON — Meta CEO Mark Zuckerberg took to the witness stand on the first day of a historic antitrust trial to defend his company against allegations it illegally monopolized the social media market. The trial could force the tech giant to break off Instagram and WhatsApp, startups Meta bought more...
Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now
NEW YORK — Stocks rose worldwide Monday after President Donald Trump relaxed some of his tariffs, for now at least, and as stress from within the U.S. bond market seems to be easing. The S&P 500 climbed 0.8%, though trading was still shaky, and it briefly gave back all of...
Pfizer ends development of potential pill obesity treatment
Pfizer is ending the development of its potential once-daily pill treatment for obesity after venturing into the biggest and most expensive level of clinical testing. The drugmaker said Tuesday that it would stop studying danuglipron after a participant in one of its trials experienced a possible drug-induced liver injury that...
Bond market upheaval could impact borrowing costs for Western Pa. schools, municipalities
It’s all about timing. School districts and municipal authorities that already floated bonds for major construction projects are counting their blessings for not being caught up in the bond market’s current chaos. But those with pending projects not yet supported by money from bonds are watching the market closely, eyeing...
Delay in ‘silica rule’ leaves some miners’ advocates worried
After the announcement by the federal Mine Safety and Health Administration of a four-month delay in enforcement of the “silica rule,” some in the region are worried about what that delay signals for miners’ safety. The rule, issued last April, gave mine operators a year to upgrade respiratory protection programs...
Covid pandemic exposed vulnerabilities but brought lessons in preparedness
Ordinary shopping trips became a scavenger hunt five years ago. Shoppers who felt fortunate enough to find toilet paper quickly filled their carts. Demand soared for items such as masks, lumber, liquor and computer chips. As covid-19 swept across the United States, empty store shelves spurred anxiety, heightened tensions and...
