Business category, Page 50
Nippon, U.S. Steel file 2 suits after Biden administration blocks $15 billion deal
U.S. Steel and Nippon Steel are suing to challenge the Biden administration’s decision to block a proposed deal for the Japanese company to acquire the Pittsburgh-based steelmaker for nearly $15 billion. At the same time, the companies also filed suit Monday in Pittsburgh against Cleveland-Cliffs Inc., the company’s CEO and...
Biden, in 11th hour action, bans new offshore oil and gas drilling in most federal waters
WASHINGTON — President Joe Biden is moving to ban new offshore oil and gas drilling in most U.S. coastal waters, a last-minute effort to block possible action by the incoming Trump administration to expand offshore drilling. Biden, whose term expires in two weeks, said he is using authority under the...
‘Steel is all around us:’ Despite uncertain future locally, U.S. Steel’s connection to this region and its people endures
President Joe Biden’s decision to thwart a Japanese firm from buying U.S. Steel doesn’t pen an obituary for the Pittsburgh-based industrial titan whose decades-long fall from grace has been inextricably linked to the city where it was born. But it does portend an uncertain future for an industry that built...
U.S. Steel, Nippon say Biden’s decision to block sale was ‘political’
President Joe Biden on Friday blocked a nearly $15 billion sale of Pittsburgh-based U.S. Steel to Japan’s Nippon Steel Corp., throwing the local future of the country’s once-dominant steelmaker into question. In a move signaled months ago, Biden cited national security concerns surrounding the deal despite pledges from Nippon to...
US new vehicle sales rose 2.7% last year as prices and interest rates dropped a little
DETROIT — New vehicle sales in the U.S. rose 2.7% last year as prices and interest rates eased a bit, making SUVs, cars and trucks a little more affordable. Industry analysts say discounts such as rebates and low-interest financing should get even better as 2025 rolls along, with the biggest...
Devastation, relief on spectrum of emotions for stakeholders in U.S. Steel sale after Biden’s block
It takes a mixture of alcohol, dish soap and standard cleaner to remove the greasy, oily residue that forms over the windows of Roger’s Classic Cuts in Clairton, right across from U.S. Steel’s sprawling coke works. Owner Roger Mount believes this slick substance comes from the plant, which spews a...
‘There is no such thing as a non-political decision,’ Duquesne prof says of Biden’s U.S. Steel decision
The intersection of politics and national security likely played a role in President Joe Biden’s decision to reject the proposed sale of U.S. Steel to a Japanese company, according to experts. The White House announcement Friday morning to halt the nearly $15 billion deal to transfer ownership of the iconic...
With U.S. Steel deal axed, economic experts question future of Mon Valley steelmaking
With the future of U.S. Steel’s Mon Valley mills murky at best because of President Joe Biden’s decision to block the proposed sale to Japan’s Nippon Steel, observers and industry analysts offered a glimpse of what might happen as both companies decried Biden’s decision. “I don’t think there is any...
What they’re saying about it: Biden nixes U.S. Steel-Nippon deal
President Joe Biden blocking the merger of U.S. Steel and Nippon Steel drew some immediate reactions from across the nation. Here’s some of what’s being said: “Instead of abiding by the law, the process was manipulated to advance President Biden’s political agenda. The President’s statement and order do not present...
Read Nippon Steel’s statement about Biden’s decision to block sale of U.S. Steel
Nippon Steel Corporation and U. S. Steel Condemn U.S. Government’s Unlawful Decision to Block Proposed Acquisition of U. S. Steel Companies will take all appropriate action to protect their legal rights TOKYO & PITTSBURGH - Nippon Steel Corporation (“Nippon Steel”) and United States Steel Corporation (“U. S. Steel”) today issued...
U.S. fines JetBlue $2M for ‘chronic’ flight delays on several East Coast routes
The Transportation Department said Friday it will hit JetBlue Airways with a $2 million penalty for chronically late flights along the East Coast, and half the money will go to passengers who were delayed. The agency said it’s the first time it has fined an airline for chronic delays on...
Read Biden’s statement about decision to block sale of U.S. Steel
Statement from President Joe Biden As I have said many times, steel production—and the steel workers who produce it—are the backbone of our nation. A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains. That is because steel powers...
U.S. Steel, Nippon say Biden’s decision to block sale was ‘political’
The U.S. Steel Mon Valley Works Clairton plant in Clairton is shown on Feb. 26, 2024. by JACK TROY...
Biden to block Nippon Steel takeover of U.S. Steel
President Joe Biden has decided to block the sale of United States Steel Corp. to Japan’s Nippon Steel Corp., according to three people with knowledge of the matter. The White House announcement of the decision is planned for Friday, some of the people said. The people requested anonymity to discuss...
FCC’s net neutrality rules struck down, in another blow to Biden administration
A federal appeals court on Thursday dealt a blow to President Biden’s Federal Communications Commission, striking down the agency’s hard-fought and long-debated open internet rules. The FCC had sought to reinstate a sweeping policy established under President Obama that was designed to treat internet service as an essential public service,...
A data company has figured out which airlines fly on time most often
Mexican airline Aeromexico had the world’s best record for on-time arrivals in 2024, according to an annual ranking released Thursday. Delta Air Lines scored the highest among U.S. carriers despite a computer outage that caused thousands of flight cancellations in July. Aviation-data provider Cirium said in a report that nearly...
Tesla reports 1.1% sales drop for 2024, its 1st annual decline in a decade
DETROIT — Tesla posted its first annual sales drop in more than a dozen years Thursday, sinking a stock that has soared since Donald Trump’s victory on optimism Elon Musk’s close relationship to the president-elect will help the company. Tesla’s global vehicle sales rose 2.3% in the final quarter thanks...
U.S. unemployment claims fall to 211,000, the lowest level since March
WASHINGTON — The number of Americans applying for unemployment checks dropped last week to the lowest level since March, suggesting that suggest most workers enjoy unusual job security. Jobless claims dropped by 9,000 to 211,000 last week, the Labor Department reported Thursday. The four-week average of claims, which strips out...
Wall Street indexes lose ground as market closes another record-breaking year
Stock indexes closed mostly lower Tuesday as the market delivered a downbeat finish on the final day of another milestone-shattering year on Wall Street. The S&P 500 gave up an early gain to finish down 0.4%. The benchmark index, which set 57 record highs in 2024, racked up a 23.3%...
Report: Nippon Steel offers 10-year guarantee to gain approval of U.S. Steel acquisition
In a last-ditch effort to gain approval for its acquisition of U.S. Steel, Nippon Steel is offering a 10-year guarantee that it would not reduce production capacity at U.S. Steel’s mills in six states, including Pennsylvania, the Washington Post reported. The newspaper cited a document sent to the White House....
Greensburg, Hempfield areas see changes in fast food, retail business scene
As fast food chains and other popular retail locations close in the Greensburg-Hempfield area, the region’s business scene will see some changes in the new year. Dick’s Sporting Goods While Westmoreland Mall prepares to welcome a Dick’s Sporting Goods House of Sport, one of the chain’s stores along Route 30...
Small businesses brace themselves for potentially disruptive TikTok ban
A looming TikTok ban could affect the millions of small businesses that use the short-video social media app to help them grow their business. Desiree Hill, owner of Crown’s Corner Mechanic in Conyers, Georgia, started her business solo as a mobile mechanic. Sharing videos of her work on TikTok helped...
In 2024, artificial intelligence was all about putting AI tools to work
If 2023 was a year of wonder about artificial intelligence, 2024 was the year to try to get that wonder to do something useful without breaking the bank. There was a “shift from putting out models to actually building products,” said Arvind Narayanan, a Princeton University computer science professor and...
Value-seekers drove 2024’s retail trends and dead ends
Value was in vogue in 2024. Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices. Well-heeled customers traded down to Walmart and Aldi. Diners opted for fast food or home cooking instead of...
10 tips from experts to help you change your relationship with money in 2025
NEW YORK — With the end of 2024 around the corner, you might be reflecting on financial goals for 2025. Whether you’re saving to move out of your parents’ house or pay off student loan debt, financial resolutions can help you stay motivated, said Courtney Alev, consumer advocate for Credit...
