Business category, Page 90
Federal Reserve on cusp of what some thought impossible: Defeating inflation without steep recession
WASHINGTON — It was the most painful inflation Americans had experienced since 1981, when “The Dukes of Hazzard” and “The Jeffersons” were topping the TV charts. Yet the Federal Reserve now seems on the verge of defeating it — and without the surge in unemployment and the deep recession that...
Christmas-delivery shipping deadlines are fast approaching
People are running out of time to have gifts shipped in time for Christmas, with at least one deadline arriving as early as this weekend. Saturday is the last day you can have something shipped by the U.S. Postal Service in time for the holiday. The Postal Service’s first-class or...
Retailers, shoppers gear up for final holiday rush
Shoppers had their pick of products and parking Friday ahead of what retailers hope will be a chaotic and profitable weekend — the last full weekend before Christmas celebrations get underway. “It’s not very crowded. I was thinking it would’ve been busier on a nice Friday,” said Karen Belin of...
Christmas-delivery shipping deadlines are fast approaching
People are running out of time to have gifts shipped in time for Christmas, with at least one deadline arriving as early as this weekend. Saturday is the last day you can have something shipped by the U.S. Postal Service in time for the holiday. The Postal Service’s first-class or...
Pittsburgh’s URA to invest more than $2M in affordable housing preservation
Pittsburgh’s Urban Redevelopment Authority plans to spend more than $2 million to preserve over 420 apartments as affordable housing. The money comes from the URA’s Housing Preservation Program, which the authority created in April with $8.9 million in pandemic relief money. Wood Street Commons in Downtown is set to receive...
5 questions that can help guide your holiday tipping
Service workers help make our lives easier throughout the year — whether it’s by keeping our lawns immaculate or babysitting during date nights. The holidays are an ideal time to show gratitude for the work they do throughout the year. But how much do you tip service workers during the...
Chelsea Holding to expand operations to Westmoreland industrial park; 150 employees could be added
An Oakmont-based building products manufacturer will spend nearly $1.8 million to buy a 30-acre lot at Commerce Crossing industrial park in Sewickley Township, Westmoreland County commissioners said Thursday. Chelsea Holding Co. will buy one of five lots at the 206-acre industrial park. The company, which develops, manufactures and distributes exterior...
Proposed apartment building in Pittsburgh’s Bluff would feature local art on facade
A proposed six-story apartment building in Pittsburgh’s Bluff neighborhood would prominently feature 10 large panels of artwork on the building’s façade. Pittsburgh-based GSX Ventures has proposed the 211-unit apartment building on a 1.4-acre site that occupies nearly an entire city block bounded by Forbes Avenue and Watson, Marion and Van...
Retail sales rise 0.3% in November as Americans hit gas rather than brakes on spending
NEW YORK — Americans picked up their spending from October to November unexpectedly as the unofficial holiday season kicked off, underscoring the power of shoppers despite elevated prices. Retail sales rose 0.3%, in November from October, when sales were down a revised 0.2% according to the Commerce Department on Thursday....
Amazon won’t have to pay hundreds of millions in back taxes after winning EU case
LONDON — Amazon won’t have to pay about 250 million euros ($273 million) in back taxes after European Union judges ruled in favor of the U.S. e-commerce giant Thursday, dealing a defeat to the 27-nation bloc in its efforts to tackle corporate tax avoidance. The ruling by the EU’s top...
U.S. applications for jobless benefits fall again as labor market continues to thrive
The number of Americans filing for jobless benefits fell last week as the labor market continues to thrive despite high interest rates and elevated costs. Applications for unemployment benefits fell by 19,000 to 202,000 for the week ending Dec. 9, the Labor Department reported Thursday. Analysts were expecting around 224,000....
John Dorfman: Bunny Portfolio returned 44% in past year
“Still going.” That was the punchline in the Energizer battery commercials, featuring the Energizer Bunny, which kept going long after you would have expected it to stop. It’s also the idea behind my Bunny Portfolio. This hypothetical portfolio contains companies that have averaged 25% profit growth in the past five...
AHN expands services at Downtown Pittsburgh clinic
Allegheny Health Network is adding services to its primary care clinic in Downtown Pittsburgh. The Express Care services at its clinic on Penn Avenue are available for minor health conditions such as cold, flu and covid-19 symptoms; rashes and infections; and other afflictions. Testing also is available for covid, flu,...
Dow hits a record high and Treasury yields drop after the Fed signals rate cutsVideo
NEW YORK — A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming next year. The Dow jumped 512 points, or 1.4%, to top 37,000...
PPG expands in Europe with new facility in France
Pittsburgh-based paint and coatings company PPG has opened a facility in France to improve its operations in Southern Europe and North Africa. The $17 million aerospace application support center in Toulouse, France, will provide filling and packaging capabilities for aerospace materials, including coatings and sealants for aircraft, according to the...
Tesla recalls nearly all vehicles sold in U.S. to fix system that monitors drivers using Autopilot
DETROIT — Tesla is recalling nearly all of the vehicles it sold in the U.S., more than 2 million across its model lineup, to fix a defective system that’s supposed to ensure drivers are paying attention when they use Autopilot. Documents posted Wednesday by U.S. safety regulators say the company...
Hasbro cuts 1,100 jobs, or 20% of its workforce, prompted by the ongoing malaise in the toy business
NEW YORK — Toy maker Hasbro said Monday it is cutting about 1,100 jobs, or 20% of its workforce, as the malaise in the toy business extends through another holiday shopping season. The nearly century-old Rhode Island-based company behind Monopoly, Play-Doh and My Little Pony toys disclosed the layoffs in...
Company proposes underground limestone mine in Washington County
A Clarion County company is hoping to expand its limestone mining operations in Washington County. A public meeting will be held Wednesday night to discuss a proposal for the underground facility. The 336.7-acre mine, proposed by Neiswonger Construction Inc., would be dug beneath the Maggie Lynn Quarry that the company...
How rising prices for restaurants, car repair and other services kept inflation up last month
WASHINGTON — Held down by sinking gas prices, U.S. inflation was mostly unchanged last month. But underlying price pressures — from apartment rents, restaurant meals, auto insurance and many other services — remained stubbornly high. Last month’s inflation data arrived just a day before the Federal Reserve will end a...
Choice Hotels goes hostile in $8 billion takeover bid for Wyndham after being repeatedly rebuffed
Choice Hotels is launching a hostile takeover offer for Wyndham Hotels & Resorts after repeated attempts to reach a deal with the rival hotel chain were rebuffed. Choice Hotels said Tuesday that its exchange offer to shareholders of Wyndham, which runs Days Inn, La Quinta, Ramada and a host of...
Developer plans apartments, townhouses at UPMC South Side hospital site
A developer is planning to replace a former hospital on Pittsburgh’s South Side with apartments and townhouses. Walnut Capital has acquired the 5.5-acre former UPMC South Side hospital complex on Mary, Jane and Josephine streets in the South Side Flats for $9.3 million. The deal was inked in November through...
‘We needed something like this around here’: Hempfield entertainment venue opens doors
For Davin Ruzina, the 814 Lanes & Games in Hempfield opened its doors for business just in time. Ruzina, of Hunker, celebrated his 13th birthday Saturday and went to the new entertainment venue with his family and friends Sunday. Bowling and laser tag were the highlights of their day. “We...
Vento’s Pizza in East Liberty reopens under new family ownership
Vento’s Pizza, the East Liberty restaurant that has been home to “Franco’s Italian Army” for decades, is up and running again. After its longtime owner retired and closed the pizzeria in February, a new family has taken over. They’re working with the Vento family to keep the spirit of the...
McDonald’s testing new CosMc’s chain amid unprecedented global expansion
McDonald’s is testing a new restaurant format with customizable drinks and treats designed to appeal to afternoon snackers — and grab sales from competitors like Starbucks and Dunkin’. The company said Wednesday it will open 10 CosMc’s restaurants through the first half of next year. One will be near the...
Meta makes end-to-end encryption a default on Facebook Messenger
NEW YORK — Meta is rolling out end-to-end encryption for calls and messages across its Facebook and Messenger platforms, the company announced Thursday. Such encryption means that no one other than the sender and the recipient — not even Meta — can decipher people’s messages. Encrypted chats, first introduced as...
