Business category, Page 64
Former Volkswagen boss Winterkorn goes on trial over diesel cars rigged to cheat on emissions tests
FRANKFURT, Germany — Former Volkswagen Group CEO Martin Winterkorn went on trial Tuesday on charges of fraud and market manipulation in connection with the corporate scandal over Volkswagen’s use of rigged software that let millions of cars cheat on emissions tests and emit high levels of harmful pollutants. Prosecutors say...
Volkswagen aims to cancel a no-layoffs pledge and won’t rule out closing plants in Germany
FRANKFURT, Germany — Germany’s Volkswagen says auto industry headwinds mean it can’t rule out plant closings in its home country - and must drop a longstanding job protection pledge in force since 1994 that would have barred layoffs through 2029. “The European automotive industry is in a very demanding and...
Labor Day hotel strikes reflect the frustrations of a workforce largely made up of women of colorVideo
More than 10,000 workers at 25 U.S. hotels were on strike Monday after choosing Labor Day weekend to amplify their demands for higher pay, fairer workloads and the reversal of covid-era cuts. The UNITE HERE union, which represents the striking housekeepers and other hospitality workers, said 200 workers at the...
How proposed rules could protect U.S. workers from heat
The first federal legal protections for indoor and outdoor workers exposed to heat could go into effect next year following decades of activism by medical experts, unions and labor advocates. The rule would, among other things, require employers across the U.S. to create heat safety plans and provide water and...
ESPN networks, ABC and Disney channels go dark on DirecTV on a busy night for sports
ESPN has gone off the air on a major carrier for the second straight year during the U.S. Open tennis tournament and in the midst of the first full weekend of college football. Disney Entertainment channels went dark on DirecTV Sunday night after the sides were unable to reach a...
Inflation explained: It seems everything is more expensive than 5 years ago. Here’s why.
As she walked the aisles of Walmart in Frazer, Ashley Williams of Pittsburgh’s Morningside neighborhood wanted to know the “mathematics behind” the rising cost of milk, eggs and other staples. Terry Riehle of Greensburg struggled to understand why Land O’Lakes cheese costs more per pound than most cuts of meat...
Harris, Trump and the future of corporate taxes
Kamala Harris and Donald Trump will clash over corporate tax rates in the next two months. As President, Trump pushed for lower corporate tax rates and got them. In 2017, Congress slashed the corporate tax rate to 21% from 35%. Corporate tax as we know it today was born in...
Japan wants its hardworking citizens to try a 4-day workweek
TOKYO — Japan, a nation so hardworking its language has a term for literally working oneself to death, is trying to address a worrisome labor shortage by coaxing more people and companies to adopt four-day workweeks. The Japanese government first expressed support for a shorter working week in 2021, after...
Brazil blocks Musk’s X amid feud with judge
SAO PAULO — Brazil started blocking Elon Musk’s social media platform X early Saturday, making it largely inaccessible on the web and through mobile apps after the billionaire refused to name a legal representative to the country. The move escalates a monthslong feud between Musk and a Brazilian Supreme Court...
Federal Reserve’s favored inflation gauge shows price pressures easing as rate cuts near
WASHINGTON — An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years. Prices rose just 0.2%...
Canadian rail union says it has filed lawsuits challenging back-to-work orders
The union that represents workers at both of Canada’s largest freight railroads has filed the lawsuits it promised challenging the orders that forced employees back to work and got the trains moving again, the union announced Friday. The lawsuits were filed late Thursday afternoon, the Teamsters Canada Rail Conference said....
Slinging suds: Salem beer distributor expects to move about 40,000 cases this weekVideo
Pallets holding more than 150,000 six-packs moved through the Frank B. Fuhrer Wholesale warehouse just off Route 22 in Salem this week. That should get the Labor Day weekend going. Summer is far and away the busiest season for beverage wholesalers like Fuhrer, which opened the 335,000-square-foot distribution facility —...
UPMC posts $313 million loss for first half of 2024
UPMC lost $313 million in the first six months of the year, the Pittsburgh-based health care giant said. The company announced the financial picture at a time when it is cutting about 1,000 jobs. UPMC said Thursday its expenses topped $14.7 billion, but had $14.47 billion in revenue from its...
Sheetz in Youngwood slated to permanently close in October
A Sheetz convenience store and gas station in Youngwood is set to permanently close Oct. 7. Employees were offered jobs at other locations around the area, according to Nick Ruffner, public relations manager for Sheetz. Company representatives did not respond to Trib questions about how many employees work there. The...
Giant Eagle’s sale of GetGo refocuses company amid growing grocer competition, experts say
Giant Eagle’s decision to sell its GetGo franchise to focus on its role as a leading grocer is indicative of increasing competition from national retailers, an industry expert said. Quebec-based Alimentation Couche-Tard, parent company of Circle K convenience stores, announced the purchase of GetGo on Aug. 19. Giant Eagle CEO...
Nippon Steel pledges $1 billion to Mon Valley Works pending U.S. Steel acquisition as government opposition continues
Nippon Steel will spend $2.7 billion through 2026 to upgrade steel plants if its plan to acquire U.S. Steel comes to fruition. The Japanese company announced Wednesday at least $1 billion would be used to replace or upgrade the West Mifflin hot strip mill and other facilities to improve yield...
Kroger hiked milk, egg prices above inflation, merger judge told
Kroger Co. hiked prices on milk and eggs more than needed to account for inflation, the company’s top pricing executive testified during a court hearing on the U.S. government’s bid to block the grocery chain’s purchase of rival Albertsons Cos. In a March 2024 email to his bosses, Andy Groff,...
French authorities issue preliminary charges against Telegram messaging app CEO
PARIS — French authorities handed preliminary charges to Telegram CEO Pavel Durov on Wednesday for allowing alleged criminal activity on his messaging app, and barred him from leaving France pending further investigation. Both free-speech advocates and authoritarian governments have spoken out in Durov’s defense since his weekend arrest. The case...
Ex-Rivers Casino host sues venue, claims sexual harassment by ‘high rollers’
A former Rivers Casino employee who repeatedly reported being sexually harassed by “high rollers” is suing the Pittsburgh gambling venue after she said she was fired for reporting the alleged abuse. The nine-page complaint alleging a single count of retaliation was filed Tuesday in U.S. District Court. It seeks the...
Lowe’s changes some DEI policies amid legal attacks on diversity programs and activist pressure
NEW YORK— Home improvement chain Lowe’s is scaling back its diversity, equity and inclusion policies, joining the ranks of several other companies that altered their programs since the U.S. Supreme Court outlawed affirmative action in college admissions or after facing a conservative backlash online. In an internal memo shared by...
What is Telegram and why was its CEO arrested in Paris?
Pavel Durov, the founder and CEO of the messaging app Telegram, was arrested in Paris over the weekend over allegations that his platform is being used for illicit activity including drug trafficking and the distribution of child sexual abuse images. Durov, who was born in Russia, spent much of his...
Fake online reviews and testimonials are a headache for small businesses. They hope the FTC can help
NEW YORK — Online reviews and testimonials are a key way that small businesses can attract new customers and boost sales of products. But fake reviews and testimonials have been a persistent problem for small businesses, many of whom rely on recommendations for business. Fake reviews can make it harder...
U.S. consumer confidence rises in August as Americans’ optimism about future improves
American consumers felt more confident in August as their outlook for the future improved. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 103.3 in August from 101.9 in July. The index measures both Americans’ assessment of current economic conditions and their outlook...
Stock market today: Dow closes at a record even as losses for Big Tech pull S&P 500 and Nasdaq lower
The Dow Jones Industrial Average closed at a record high Monday on Wall Street, even as losses for Big Tech companies pulled the S&P 500 and the Nasdaq composite lower. The Dow edged up 0.2% Monday, enough to beat the all-time high it set last month. The S&P 500 lost...
Modern gold rush: Gold price hits all time highVideo
The price of gold hit an all time high last week — and it has continued to stay close to that record Monday. Spot gold rose 0.3% to $2,518.47 per Troy ounce at 1:45 p.m. Monday, which is just shy of the record high of $2,531.60 hit last week, Reuters...
