Business category, Page 36
Apple has few incentives to start making iPhones in U.S., despite Trump’s trade war with China
SAN FRANCISCO — President Donald Trump’s administration has been predicting its barrage of tariffs targeting China will push Apple into manufacturing the iPhone in the United States for the first time. But that’s an unlikely scenario even with U.S tariffs now standing at 145% on products made in China —...
Trump administration says it will exclude some electronics from reciprocal tariffs
NASHVILLE, Tenn. — The Trump administration late Friday said they would exclude electronics like smartphones and laptops from reciprocal tariffs, a move that could help keep the prices down for popular consumer electronics that aren’t usually made in the U.S. It would also benefit big tech companies like Apple and...
Southwestern Pennsylvania’s glassmaking tradition dates from late 18th century
The closure of the Pyrex cookware plant in Charleroi brings to an end 132 years of manufacturing at that facility, but the regional footprint of the glassmaking industry is far more widespread and earlier in origin. In 1797, James O’Hara and Isaac Craig opened their Pittsburgh Glassworks at the foot...
Trump reaches deals with 5 law firms, allowing them to avoid prospect of punishing executive orders
WASHINGTON — President Donald Trump announced deals Friday with five law firms that will allow them to avoid the prospect of a punishing executive order and require them to together provide hundreds of millions of dollars’ worth of free legal services for causes his administration supports. The resolutions reflect the...
Oakmont-based Chelsea Building Products breaks ground on new plant in Sewickley Township
Construction is underway for a new manufacturing facility that officials said could bring as many as 150 new jobs to Westmoreland County. Officials this week held a groundbreaking for a 228,000 square-foot building at Commerce Crossing, the county’s newest industrial park, in Sewickley Township. Chelsea Building Products paid $1.8 million...
U.S. stocks climb but U.S. dollar sinks as Wall Street closes chaotic, historic week
NEW YORK — U.S. stocks are climbing Friday in another manic day on Wall Street, while the falling value of the U.S. dollar and other swings in financial markets suggest fear is still high about escalations in President Donald Trump’s trade war with China. The S&P 500 was 1.5% higher...
132-year-old Charleroi glass plant ends production, set to close
Elaine Smith had to hear the Corning whistle one last time. Smith, 70, of Monessen retired in 2020 after a 45-year career at the Pyrex glass plant, which has been a staple in Charleroi for more than a century. She said she was ready for tears to flow Friday for...
China hits back at U.S. and will raise tariffs on American goods from 84% to 125%
BEIJING — China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets and raised fears of a global slowdown. While U.S. President Donald Trump paused import...
Inflation fell last month as gas prices dropped sharply, a sign prices cooled before tariffsVideo
WASHINGTON — U.S. inflation declined last month as the cost of gas, airline fares, and hotel rooms fell, a sign that price growth was cooling even as President Donald Trump ramped up his tariff threats. Consumer prices rose just 2.4% in March from a year earlier, the Labor Department said...
Contract doesn’t need ‘the moon and the stars,’ just better pay, ATI workers say
A few dozen ATI workers rallied outside the company’s Vandergrift plant Thursday as the deadline nears to reach a union contract, arguing the specialty metal manufacturer’s recent success should trickle down to the rank-and-file. “We’re not asking for the moon and the stars,” said Keith Beavers, a maintenance technician and...
Stocks dive as euphoria on Wall Street reverts to fear about U.S.-China trade war
NEW YORK — Stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy. The S&P 500 tumbled 3.5%, slicing into Wednesday’s surge of 9.5% following Trump’s decision to pause many of his tariffs worldwide....
Egg prices increase to record high despite Trump’s predictions and bird flu outbreak slowing
U.S. egg prices increased again last month to reach a new record-high of $6.23 per dozen despite President Donald Trump’s predictions, a drop in wholesale prices and no egg farms having bird flu outbreaks. The increase reported Thursday in the Consumer Price Index means consumers and businesses that rely on...
EU pauses tariff retaliation for 90 days to match Trump move, holding out hope for talks
BRUSSELS — The European Union’s executive commission said Thursday it will put trade retaliation measures on hold for 90 days to match President Donald Trump’s pause on his sweeping new tariffs and leave room for a negotiated solution. European Commission President Ursula von der Leyen said that the commission, which...
Uncertainty still abounds for Western Pa. businesses, consumers despite tariffs pause
Many consumers and business owners across Western Pennsylvania responded Wednesday with a sense of relief to President Trump’s decision to pause most of his hefty reciprocal tariffs on imported goods — and the stock market responded with historic gains. But the 90-day pause doesn’t apply to China, one of the...
Reports: Trump voices opposition to Nippon purchase of U.S. Steel
Shares of United States Steel Corp. fell Wednesday when President Donald Trump renewed his opposition to the sale of the American steel producer to Japan’s Nippon Steel Corp., according to published reports. Trump called U.S. Steel a “very special company,” reported Kyodo News. He reportedly told reporters that, despite his...
Trump’s ‘buy’ tip on social media before his tariffs pause made money for investors who listened
NEW YORK — When Donald Trump offered some financial advice Wednesday morning, stocks were wavering between gains and losses. But that was about to change. “THIS IS A GREAT TIME TO BUY!!! DJT,” he wrote on his social media platform Truth Social at 9:37 a.m. Less than four hours later,...
New Pittsburgh Airport terminal cost now pegged at $1.7B as project nears completion
The $1.7 billion Pittsburgh International Airport modernization project is hundreds of millions more than initially planned. Inflation isn’t solely to blame for the rising cost of the project, Allegheny County Airport Authority CEO Christina Cassotis said in a statement. Instead, the authority is performing other maintenance and improvement work at...
Wall Street surges to one of its best days since WWII after Trump pauses many of his tariffsVideo
NEW YORK — Stocks soared to one of their best days in history on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would. The S&P 500 surged 9.5%, an amount that...
Pakistan says U.S. companies seek to invest in the country’s untapped minerals sector
ISLAMABAD — U.S. companies are seeking to invest in Pakistan’s largely untapped minerals sector that boasts one of the world’s largest copper and gold deposits, the Pakistani government said Wednesday. Eric Meyer, Senior Bureau Official for the State Department’s Bureau of South and Central Asian Affairs, conveyed that interest directly...
China raises its retaliatory tariff on the U.S. to 84% as it vows to ‘fight to the end’
BANGKOK — China again vowed to “fight to the end” Wednesday in an escalating trade war with the U.S. as it announced it would raise tariffs on American goods to 84% from Thursday. Beijing also added an array of countermeasures after U.S. President Donald Trump raised the total tariff on...
Asian shares deepen losses after another Wall Street retreat as tariffs take effect
BANGKOK — Asian shares sank again on Wednesday as the latest set of U.S. tariffs, including a 104% levy on Chinese imports, went into effect. Japan’s Nikkei 225 index initially lost nearly 4% and markets elsewhere in the region also declined. On Tuesday, the S&P 500 dropped 1.6% after wiping...
Egg giant Cal-Maine says government is investigating price increases
Shares of Cal-Maine Foods, the largest U.S. egg producer, fell in after-hours trading Tuesday once the company acknowledged it is being investigated by the antitrust division of the U.S. Department of Justice. Ridgeland, Mississippi-based Cal-Maine said it received notice of the investigation into egg price increases last month. Cal-Maine said...
John Dorfman: Tariff steamroller has flattened some good stocks
The tariff steamroller ran over the stocks of some good companies in the first quarter and early April. That provides lots of candidates for my Casualty List, a roster of stocks that have been hit hard and that I believe have excellent recovery potential. The basic idea in investing is...
Broadcast television is in trouble. Stations are asking Washington for help
As television station owners gathered in Las Vegas this week for the annual National Association of Broadcasters convention, they sent an urgent message to Washington that could be summed up in one word — “Help.” Streaming video has siphoned away the traditional viewing audience. Advertisers have shifted their budgets to...
Yes, Western Pa. pays more for gas. You might be surprised how much more
If you feel like Western Pennsylvanians pay more for gasoline, you’re right. You can blame geography, experts say. Within the state — already home to the nation’s ninth-most expensive gasoline and the country’s third-highest gas tax — fuel costs more in the Pittsburgh region than almost anywhere, including the Philadelphia...
