Business category, Page 37
Trump signs executive orders to boost coal, a reliable but polluting energy source
WASHINGTON — President Donald Trump on Tuesday signed a series of executive orders aimed at boosting the struggling coal industry, a reliable but polluting energy source that’s long been in decline. Under the four orders, Trump uses his emergency authority to allow some older coal-fired power plants set for retirement...
Stocks dive after another stunning reversal as uncertainty reigns about Trump’s tariffsVideo
NEW YORK — Stocks dove Tuesday following another stunning reversal, with Wall Street veering from a huge gain at the opening of trading to more losses at the close, because investors still have no idea what to make of President Donald Trump’s trade war, which is scheduled to kick into...
Gray divorce: 10 financial and tax issues you must know after 50
Beyond the emotional strain of a “gray divorce,” managing your finances is critical. The first step is hiring an experienced divorce attorney. Although it might be tempting to avoid legal fees, going without professional guidance could cost you more in the long run. Additionally, understanding the key financial and tax...
U.S. Steel hits 52-week high after Trump orders new security review of Nippon Steel bid
Shares of U.S. Steel are hitting a 52-week high after President Donald Trump ordered a new national security review of Nippon Steel’s proposed bid to buy U.S. Steel for nearly $15 billion. President Joe Biden blocked the deal just before leaving office and Trump had vowed to do the same...
‘De-extinction’ startup with $10 billion valuation revives dire wolves
Colossal Biosciences Inc., a Dallas-based biotech firm with a $10 billion valuation, has announced a new breakthrough in its audacious mission to resurrect extinct animals. The company said Monday it’s created three dire wolves, a species popularized by the fantasy series “Game of Thrones” but not seen on Earth in...
U.S. Sen. Dave McCormick on Trump tariffs: ‘Let’s give it a little time’
U.S. Sen. Dave McCormick said Monday after touring an East Pittsburgh manufacturing facility that it’s too soon to pass judgment on the sweeping tariffs imposed last week by President Donald Trump. “There’s a lot of uncertainty (over the tariffs) right now. I think over the coming days and weeks a...
Wall Street could be headed for a bear market. Here’s what that means
NEW YORK — Wall Street could soon be in the claws of another bear market as the Trump administration’s tariff blitz fuels fears that the added taxes on imported goods from around the world will sink the global economy. The last bear market happened in 2022, but this decline feels...
Pittsburgh aerospace company considers pausing orders as tariff threats rise
A Pittsburgh-based aerospace company that makes parts used on passenger jets may stop taking orders because of tariffs, according to a report from Reuters. A spokesman for Howmet Aerospace declined comment to TribLive, but they did not refute the story based upon a letter viewed by Reuters. Howmet was invoking...
Stocks dip after careening through a manic day following Trump’s latest tariff threat
NEW YORK — Stocks careened through a manic Monday after President Donald Trump threatened to crank his tariffs higher, despite a stunning display showing how dearly Wall Street wants him to do the opposite. The S&P 500 slipped 0.2% at the end of a day full of heart-racing reversals as...
Indiana Township-based wedding officiant logs more than 500 nuptials
Michelle Trumble of Indiana Township is a marrying machine. “I’m a hopeless romantic,” Trumble said of her wedding officiant occupation of 16 years. When Trumble faced difficulties booking a suitable wedding officiant for her second wedding, she recognized the need for a professional and versatile wedding officiant in the Pittsburgh...
Answering your questions about President Trump’s vast new tariffs
WASHINGTON — After weeks of anticipation and speculation, President Donald Trump followed through on his tariff threats this week by declaring a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States. Global markets cratered the...
More homes for sale and easing rates favor homebuyers this spring, but affordability hurdles remain
LOS ANGELES — This spring homebuying season is shaping up to be more favorable for home shoppers than it’s been in recent years — as long as they can afford to buy. Home prices are rising more slowly. Mortgage rates remain elevated, but have been mostly easing and could be...
Asian markets plunge as Japan’s Nikkei 225 index dives nearly 8% after the big meltdown on Wall Street
BANGKOK — Asian shares nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump’s tariff hikes and the backlash from Beijing. U.S. futures also signaled further weakness. The future for the S&P 500 lost 2.5% while that for the Dow Jones Industrial Average shed 2.1%....
No state has ended personal income taxes since 1980, but Mississippi and Kentucky may change that
About 45 years have passed since a U.S. state last eliminated its income tax on wages and salaries. But with recent actions in Mississippi and Kentucky, two states now are on a path to do so, if their economies keep growing. The push to zero out the income tax is...
Jaguar, Land Rover maker pauses shipments to U.S. as it develops post-tariff plans
LONDON — The maker of Jaguar and Land Rover cars is pausing shipments to the U.S. as Britain’s struggling auto industry begins to respond to the 25% tax on vehicle imports imposed by President Donald Trump. Jaguar Land Rover Automotive, one of Britain’s biggest carmakers, said Saturday that the pause...
Al Sharpton calls on PepsiCo to restore DEI initiatives, threatens boycott
The Rev. Al Sharpton is giving PepsiCo three weeks to meet with him — or suffer a boycott — to discuss reversing the company’s recent move to do away with its diversity, equity and inclusion initiatives, according to a letter shared with the Associated Press. On Friday, Sharpton wrote to...
Believe it or not, there were some winners in the stock market this week
NEW YORK — Most of the numbers on Wall Street this week were bright red, but not all of them. Companies that focus on food, health care and other necessities gained ground or held relatively stable, despite a slump in the broader stock market over worries about an escalating trade...
Markets plunge with S&P 500 down 6%, Dow down 2,200 as their worst crisis since covid deepens
NEW YORK — Wall Street’s worst crisis since covid slammed into a higher, scarier gear Friday. The S&P 500 lost 6% after China matched President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession...
Trump extends TikTok deadline another 75 days as U.S. continues to look for deal
WEST PALM BEACH, Fla. — President Donald Trump on Friday said he is signing an executive order to keep TikTok running in the U.S. for another 75 days to give his administration more time to broker a deal to bring the social media platform under American ownership. Congress had mandated...
Federal Reserve chief says Trump tariffs likely to raise inflation and slow U.S. economic growth
ARLINGTON, Va. — The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth, and the Federal Reserve will focus on keeping price increases temporary, Fed Chair Jerome Powell said Friday. Powell said that the tariffs, and their impacts on the economy and inflation, are “significantly...
U.S. added a surprising 228K jobs in March as economy shows resilience in Trump trade wars
WASHINGTON — U.S. employers added a surprising 228,000 jobs last month, as the American labor market continues to show resilience as President Donald Trump wages trade wars, purges federal workers and deports immigrants working in the United States illegally. The unemployment rate ticked up to 4.2%. The hiring numbers were...
China imposes 34% tariff on imports of all U.S. products starting April 10
BEIJING — China announced Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10, part of a flurry of retaliatory measures following U.S. President Donald Trump’s “Liberation Day” slate of double-digit tariffs. The new tariff matches the rate of the U.S. “reciprocal” tariff...
Despite market volatility, local retirement experts urge restraint
Ride it out. That’s the general advice local financial advisers are giving those nearing retirement age who are watching stock markets around the world tumble after President Donald Trump announced sweeping tariffs. With at least 60% of Americans, by some estimates, tied to the stock market through 401(k)s, IRAs or...
Dow drops 1,600 as stocks lead worldwide sell-off after Trump’s tariffs cause covid-like shock
NEW YORK — Wall Street shuddered, and a level of shock unseen since covid’s outbreak tore through financial markets worldwide Thursday on worries about the damage President Donald Trump’s newest set of tariffs could do to economies across continents, including his own. The S&P 500 sank 4.8%, more than in...
Average U.S. rate on a 30-year mortgage dips to 6.64% for 2nd drop in 2 weeks
The average rate on a 30-year mortgage in the U.S. edged lower for the second week in a row, a modest but welcome boost for prospective home shoppers in the midst of the spring homebuying season. The rate fell to 6.64% from 6.65% last week, mortgage buyer Freddie Mac said...
