Business category, Page 76
Amazon gives inside look of distribution warehouse in North VersaillesVideo
Walking into Amazon’s 140,000-square-foot distribution center in North Versailles on Thursday was a bit of a “full-circle” moment for Pennsylvania Lt. Gov. Austin Davis. “When I was growing up, we had the Eastland Mall here, which was a leader in its time,” said Davis, a native of nearby McKeesport. “It...
With production of the Chevy Malibu ending, long era ends for ol’ Detroit sedans
DETROIT — In another case of Detroit automakers surrendering car sales to foreign competition, General Motors Co. this fall will retire its last mainstream gas-powered sedan when production of the Chevrolet Malibu ends after nine generations. The Detroit automaker confirmed Wednesday it will stop producing the mid-size sedan in November...
John Dorfman: 5 low-debt stocks for the ‘higher for longer’ era
Jerome Powell, head of the Federal Reserve, made it official a few days ago. “Higher for longer” interest rates are the policy of the nation’s central bank, and that’s likely to last for at least several months. The cost of carrying debt is biting companies harder than it did in...
FTX will return money to most customers less than 2 years after catastrophic crypto collapse
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange...
Disney receives key approval to expand Southern California theme parks
ANAHEIM, Calif. — Disney has received a key approval to expand its Southern California theme parks in its first push to make major changes to its iconic Disneyland in decades. The Anaheim City Council voted unanimously Tuesday to approve the plan to transform Disney’s 490-acre campus in densely-populated Southern California...
Panera to stop serving Charged Sips drinks after wrongful death lawsuits over caffeine content
Panera Bread said it’s discontinuing its Charged Sips drinks that were tied to at least two wrongful death lawsuits due to their high caffeine content. Panera didn’t say Tuesday whether the drinks were being discontinued because of the lawsuits or health concerns, and it wouldn’t comment on the timeline for...
Instacart partners with Uber Eats to offer restaurant deliveries
Grocery delivery company Instacart is partnering with Uber Eats to offer a new perk to its customers: restaurant delivery. San Francisco-based Instacart said Tuesday that its U.S. shoppers will see a “Restaurants” tab in the company’s app in the coming weeks. Restaurant orders will be delivered by Uber Eats drivers....
TikTok sues U.S. government, saying ban violates 1st Amendment
TikTok, the popular social video app, sued the U.S. government on Tuesday, saying the country’s new law that could ban the app violates First Amendment rights to free speech. President Biden last month signed into law a bill that would effectively ban the service in the U.S. if its Chinese...
Apple’s biggest announcements from its iPad event: brighter screen, faster chips and the Pencil ProVideo
CUPERTINO, Calif. — Apple on Tuesday unveiled its next generation of iPad Pros and Airs — models that will boast faster processors, new sizes and a new display system as part of the company’s first update to its tablet lineup in more than a year. The showcase at Apple’s headquarters...
Boeing 787 employees falsified inspection records; FAA opens probe
The Federal Aviation Administration said Monday it has opened a new investigation into a potential manufacturing quality lapse on Boeing’s 787 Dreamliner after Boeing admitted that inspection records on work at the wing-to-body join were falsified at the jet’s final assembly site in South Carolina. Boeing informed the FAA in...
Medicare and Social Security go-broke dates are pushed back in a ‘measure of good news’
WASHINGTON — The go-broke dates for Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according to the annual Social Security and Medicare trustees report Monday. Still, officials warn that policy changes are needed lest the programs become unable to...
All 5 rue21 stores in Western Pa. to close their doors after latest bankruptcy filing
Teen clothing retailer rue21, which is based in Warrendale, filed for bankruptcy last week and appears to be closing all of its stores. Employees at the Warrendale headquarters were seen Friday carrying boxes to their vehicles after being informed they were losing their jobs during a virtual meeting Thursday, TribLive...
Profit drops at Warren Buffett’s firm but thousands still want to hear from the investing guru
OMAHA, Neb. — Warren Buffett’s company reported a steep drop in earnings Saturday because the paper value of its investments fell, but the tens of thousands of shareholders filling an Omaha arena to hear Buffett answer questions at the annual meeting later can take heart that Berkshire Hathaway’s many businesses...
Democratic officials criticize Meta ad policy, saying it amplifies lies about 2020 election
ATLANTA — Several Democrats serving as their state’s top election officials have sent a letter to the parent company of Facebook, asking it to stop allowing ads that claim the 2020 presidential election was stolen. In the letter addressed to Meta CEO Mark Zuckerberg, the secretaries of state from Colorado,...
Nippon Steel delays closing of acquisition of U.S. Steel until late this year after U.S. DOJ request
TOKYO — Nippon Steel said Friday it has postponed the expected closing of its $14.1 billion takeover of U.S. Steel by three months after the U.S. Department of Justice requested more documentation related to the deal. Tokyo-based Nippon Steel Corp. said the deal, already approved by U.S. Steel’s shareholders, is...
U.S. loosens some electric vehicle battery rules, potentially making more EVs eligible for tax credits
DETROIT — The U.S. government has loosened some rules governing electric vehicle tax credits a bit, potentially making more EVs eligible for credits of up to $7,500. The Treasury Department announced final regulations for the credits under the 2022 Inflation Reduction Act on Friday, giving automakers more time to comply...
U.S. employers scaled back hiring in April but still added 175,000 jobs in the face of higher rates
WASHINGTON — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Friday’s government report showed that last month’s hiring gain was down sharply from...
Penn State trustees advance proposed property sales involving Behrend, Harrisburg campuses
Property zoned for college housing at Penn State University’s Behrend campus near Erie may gain new life as a church, while a Penn State Harrisburg building could be going to that city’s school district. A panel of Penn State trustees endorsed both real estate divestitures Thursday as board members began...
Walmart recalls more than 8 tons of ground beef over E. coli fears
Food manufacturing giant Cargill has recalled more than eight tons of ground beef sold at Walmart stores over potential E. coli contamination. The manufacturer this week recalled ” approximately 16,243 pounds of raw ground beef products that may be contaminated with E. coli O157:H7,” according to a media release from...
Dallas executive Kimberly Fields to take reins at ATI
ATI will have new leadership July 1. Kimberly Fields will assume the role of CEO to replace Robert Wetherbee, head of the specialty metals company since 2018. Fields of Dallas has served the past two years as chief operating officer and was named president in 2023. “I’m honored to succeed...
The Fed indicated rates will remain higher for longer. What does that mean for you?
NEW YORK — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn’t plan to cut interest rates until it has “greater confidence” that price increases...
Number of Americans applying for jobless claims remains historically low
The number of Americans applying for unemployment benefits was unchanged last week and remains historically low as the labor market continues to show resiliency in the face of high interest rates and elevated inflation. The Labor Department reported Thursday that unemployment claims for the week ending April 27 was 208,000,...
4 new businesses to check out in downtown Greensburg
Downtown Greensburg has some new neighbors. Four businesses have opened along South Pennsylvania Avenue and Otterman Street in recent months, selling gift items, wellness services, baked goods and upscale bar food. The Greensburg Community Development Corporation — a nonprofit focused on revitalizing the city — received 15 occupancy permits from...
Federal Reserve says interest rates will stay at 2-decade high until inflation further coolsVideo
WASHINGTON — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably to its 2% target. The Fed issued its decision in a statement after...
Snyder Mansion-turned-workplace a hit with employees on Pittsburgh’s North Side
It’s not every day a job interview takes place in a historic mansion. But for Logann Woodley of Franklin Park, interviewing inside a sprawling brownstone built for the late Pittsburgh steel and iron magnate William Penn Snyder sealed the deal. Today, it’s the headquarters of Babb, Inc., an insurance broker....
