Business category, Page 5
Average U.S. long-term mortgage rate falls to lowest level of the year at 6.15%
WASHINGTON — The average rate on a 30-year U.S. mortgage fell to its lowest level of 2025 this week, an encouraging sign for prospective home buyers. The average long-term mortgage rate dipped to 6.15% from 6.18% last week, mortgage buyer Freddie Mac said Wednesday. That’s the lowest average long-term rate...
New Year’s Day: What’s open? Retailers. What’s closed? Government and banks.
While schools, government and banks are closed on New Year’s Day, most major retailers across the U.S. will be open, with many offering discounts on older inventory to clear the way for newer products. But before you run out the door on New Year’s Day to peruse deals, it’s wise...
U.S. applications for jobless benefits fell below 200,000 last week with layoffs historically low
WASHINGTON — Fewer Americans applied for unemployment benefits last week with layoffs remaining low despite a weakening labor market. U.S. applications for jobless claims for the week ending Dec. 27 fell by 16,000 to 199,000 from the previous week’s 215,000, the Labor Department reported Wednesday. Analysts surveyed by the data...
John Dorfman: What my father taught me about investing
My father, Isaiah Sol Dorfman, was a World-War-II spy, a labor-relations lawyer, and a lifelong stock-market investor. His interest in the market was contagious. When I started buying stocks, he examined my portfolio and said, “I think you’ve done well in picking your stocks. Too bad you didn’t have enough...
Lee Enterprises stabilizes finances with $50M investment led by billionaire David Hoffmann
Lee Enterprises announced a compromise Tuesday with billionaire investor David Hoffmann, who offered to take over the nation’s third-largest newspaper chain this year, to help stabilize the company’s finances with a $50 million investment and set Lee up for the future. Hoffmann, whose family investment firm already owns more than...
U.S. Steel’s contract dispute with Canadian company heads to arbitration
U.S. Steel’s lawsuit accusing a Canadian company of refusing to pay for millions of tons of iron ore pellets is heading to arbitration. The October lawsuit, filed in federal court in Pittsburgh, claimed Ontario-based Algoma Steel violated its agreement to buy the pellets from U.S. Steel. The deal was signed...
AI prompts increased human interaction at this cyber security company
In an age of artificial intelligence, Dennis Underwood is working it “old school.” He is prioritizing face time. Underwood is CEO of Cyber Crucible, a cybersecurity software company in Fox Chapel that focuses on preventing data theft, identity theft and ransomware. He said the introduction of mainstream AI in the...
Majority of job hunters turn to AI to help land next gig
Mallory Helbling turned to her own professional advice when she found herself laid off in December 2024. Among them: using artificial intelligence tools to assist in her job search as a career coach. “I was able to get my first contract role in February 2025,” said Helbling, 37, of Sharpsburg,...
Environmental groups call $135,000 fine for U.S. Steel oil spills ‘laughable’
A six-figure expense is a big deal for a lot of businesses. Less so for U.S. Steel, a massive manufacturer with more than $15 billion in annual revenue. That’s why clean water advocates argue the Pennsylvania Department of Environmental Protection missed the mark last month by fining U.S. Steel $135,000...
Bitty & Beau’s, coffee shop known for inclusive hiring, quietly closes Strip District store
A coffee shop chain staffed by people with intellectual and developmental disabilities, a group dramatically underemployed nationwide, has permanently shuttered its only Pittsburgh-area location. Bitty & Beau’s Coffee on Tuesday closed the doors on its shop in Pittsburgh’s Strip District. “Unsustainable financial loss” led to the shutdown, according to a...
Why your holiday gift returns might go to a landfill and what you can do about it
The holiday season will soon come to a close, but the busiest time of the year for product returns is just beginning. The National Retail Federation estimates 17% of holiday purchases will be sent back this year. More retailers are reporting extended return windows and increased holiday staff to handle...
Average U.S. long-term mortgage rate ticks down to 6.18% this week
WASHINGTON — The average rate on a 30-year U.S. mortgage ticked down modestly this week, remaining in the same narrow range of the past two months. The average long-term mortgage rate fell to 6.18% from 6.21% last week, mortgage buyer Freddie Mac said Wednesday. A year ago, the rate averaged...
What’s open and what’s closed on Christmas Day?
From department stores to grocery stores, most retailers across the U.S. close early on Christmas Eve and shut their doors entirely on Christmas Day — while others opt to cut back hours. But there’s also a handful of businesses that will be open during the holiday. Before you run out...
Federal agency recommends 2 safety recommendations in Clairton Coke Works plant
An independent, nonregulatory federal agency investigating a deadly explosion at the U.S. Steel’s Clairton Coke Works plant this fall issued two interim safety recommendations Tuesday. The U.S. Chemical Safety and Hazard Investigation Board recommends U.S. Steel thoroughly evaluates all buildings at the Clairton facility that are currently occupied or could...
John Dorfman: An X-Ray view of the Magnificent 7
For the past three years, a huge share of the stock market’s action has been in the Magnificent Seven, a small group of super-successful, super-popular stocks. There are signs of fatigue in this leadership group, but the Magnificent Seven remain mainstays in many people’s portfolios. They are Alphabet Inc. (GOOGL),...
Consumer confidence slides in December to lowest level since U.S. tariffs rolled out in April
WASHINGTON — Consumers were less confident in the economy in December as Americans grow anxious about high prices and the impact of President Donald Trump’s sweeping tariffs. The Conference Board said Tuesday that its consumer confidence index fell 3.8 points to 89.1 in December from November’s upwardly revised reading of...
Fast shipping is increasing emissions. Here’s why delivery has become more polluting
It feels simple: You shop, find something you want and click to buy. It shows up today, overnight or tomorrow. We’ve gotten used to that speed. But that convenience comes with a climate cost. Multiple factors shape the environmental toll of a delivery. These include the distance from a fulfillment...
Cranberry approves next step for Meijer superstore development
Cranberry supervisors have moved forward with plans for Henderson Crossing, a mixed-use development anchored by a Meijer grocery store and a Meijer Express gas station. A proposed development would give Meijer a 159,000-square-foot supercenter in the township, officials previously told TribLive. After a public hearing, supervisors on Dec. 11 granted...
U.S. economy expands at surprisingly strong 4.3% annual rate in 3rd quarter
WASHINGTON — The U.S. economy expanded at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, as consumer and government spending, as well as exports, all grew. U.S. gross domestic product from July through September — the economy’s total output of goods...
Supreme Court Justice Alito grants Post-Gazette time to fight 3rd Circuit panel decision
U.S. Supreme Court Justice Samuel Alito on Monday granted an emergency application by the Pittsburgh Post-Gazette’s owners to delay a ruling from a federal appeals court panel that would send them back to the bargaining table with union employees. Alito granted a stay on the U.S. 3rd Circuit Court of...
Larry Ellison guarantees $40.4 billion in Paramount’s hostile bid for Warner Bros. Discovery
Paramount is sweetening its hostile takeover bid for Warner Bros. Discovery with an “irrevocable personal guarantee” from Larry Ellison, who is putting up billions of dollars to back the deal for his son’s company. On Monday, Skydance-owned Paramount announced that Larry Ellison — the founder of Oracle and father of...
An American Dream at risk: What happens to a small Nebraska town when 3,200 workers lose their jobs
LEXINGTON, Neb. — On a frigid day after Mass at St. Ann’s Catholic Church in rural Nebraska, worshippers shuffled into the basement and sat on folding chairs, their faces barely masking the fear gripping their town. A pall hung over the room just as it hung over the holiday season...
Cloudy future for bourbon has Jim Beam closing Kentucky distillery for a year
Bourbon maker Jim Beam is halting production at one of its distilleries in Kentucky for at least a year as the whiskey industry navigates tariffs from the Trump administration and slumping demand for a product that needs years of aging before it is ready. Jim Beam said the decision to...
U.S. Rep. Chris Deluzio on mission to investigate concession prices at sporting events
U.S. Rep. Chris Deluzio can’t stomach the prices fans are paying for hot dogs and other concessions at professional sporting events. Deluzio, D-Fox Chapel, introduced a bill directing the Federal Trade Commission to conduct a nationwide study of concession pricing practices. U.S. Rep. Dan Goldman, a Democrat from New York,...
Trump administration suspends 5 wind projects off the East Coast, cites national security concerns
WASHINGTON — The Trump administration on Monday suspended leases for five large-scale offshore wind projects under construction along the East Coast due to what it said were national security risks identified by the Pentagon. The suspension, effective immediately, is the latest step by the administration to hobble offshore wind in...
