Business category, Page 92
U.S. sanctions financial network tied to Iranian oil sales
WASHINGTON — The U.S. on Wednesday said it imposed a new round of sanctions on a group of 20 people and firms allegedly involved in a financial facilitation network for the benefit of the Iranian military. The Treasury Department sanctions impact firms and people spanning Hong Kong to the United...
Consumer Reports: Electric vehicles less reliable, on average, than conventional cars and trucks
DETROIT — Electric vehicles have proved far less reliable, on average, than gasoline-powered cars, trucks and SUVs, according to the latest survey by Consumer Reports, which found that EVs from the 2021 through 2023 model years encountered nearly 80% more problems than did vehicles propelled by internal combustion engines. Consumer...
U.S. economic growth for last quarter is revised up to a 5.2% annual rate
WASHINGTON — Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. The government had previously estimated that the economy grew at a 4.9% annual...
Big video screen in plaza near PNC Park would boost entertainment on North Shore, developer says
Plans are moving ahead for a proposed video screen in a new plaza near PNC Park where people could watch Pirates games without going into the stadium. The concept was first introduced to the Planning Commission last month. Commissioners said then that they were concerned the large LED screen would...
John Dorfman: Foot Locker, Albemarle may bounce back strong
Today’s smash-ups are tomorrow’s comeback candidates. In November and December, investors often sell their losers to reduce their capital-gains taxes. In this late-year selloff, some stocks get pushed below their fair values, which creates a buying opportunity. Here are a few stocks that have been pummeled in 2023 and that...
Mark Cuban in process of selling majority interest of Mavericks to Miriam Adelson
DALLAS — Mavericks governor Mark Cuban is in the process of selling majority interest of the Dallas Mavericks to Miriam Adelson, the widow of Las Vegas casino magnate Sheldon Adelson, a person familiar with negotiations confirmed to The Dallas Morning News. Cuban, 65, would maintain operational control, even though the...
Vandergrift-area, Pittsburgh companies get millions in federal funding for clean energy expansion
Two companies in Southwestern Pennsylvania will get millions of dollars in federal funding to expand the manufacturing of clean energy technologies in the region. In Parks Township, Colorado- based Alpen High Performance will partner with Kensington HPP to retrofit KHPP’s facility on Industrial Park Road to make high-performance, energy-efficient glass for...
Southwestern Pennsylvania jobless rate remains at record low
The unemployment rate in Southwestern Pennsylvania held steady at a nearly 50-year record low in October, according to state data. The seasonally adjusted unemployment rate in the seven-county Pittsburgh region was unchanged last month at 3.5%, the lowest since records dating back to January 1976, according to the state Department...
Cranberry Township McDonald’s franchise owner fined over child labor violations
The Cranberry Township-based company that operates five McDonald’s restaurants in the region has been fined for violating federal child labor regulations. The U.S. Department of Labor said it found that Endor Inc. employed 34 children to work later and longer than permitted by law. The department’s Wage and Hour Division...
Google will start deleting ‘inactive’ accounts in December. Here’s what you need to know
NEW YORK — Have a Google account you haven’t used in a while? If you want to keep it from disappearing, you should sign in before the end of the week. Under Google’s updated inactive-account policy, which the tech giant announced back in May, accounts that haven’t been used in...
Tensions simmer as newcomers and immigrants with deeper U.S. roots strive for work permits
HOMESTEAD, Fla. — In New York, migrants at a city-run shelter grumble that relatives who settled before them refuse to offer a bed. In Chicago, a provider of mental health services to people in the country illegally pivoted to new arrivals sleeping at a police station across the street. In...
New incentives could boost satisfaction with in-person work, but few employers are making changes
NEW YORK — Justin Ryan Horton has two jobs. When he’s not putting in 24-hour shifts as a firefighter, the 22-year-old is working as an administrative assistant for a local community college from his home in Colorado Springs. Firefighting is, of course, not a work-from-home kind of job. So when...
Cyber Monday marks the year’s biggest online shopping day, and 1 more chance to save on gifts
Consumers are scouring the internet for online deals as they begin to cap off the five-day post-Thanksgiving shopping bonanza with Cyber Monday. Even though e-commerce is now part and parcel of our everyday lives and much of the holiday shopping season, Cyber Monday — a term coined back in 2005...
Honda recalls select Accords and HR-Vs over missing piece in seat belt pretensioners
NEW YORK — Honda is recalling select 2023-2024 Accord and HR-V vehicles due to a missing piece in the front seat belt pretensioners, which could increase injury risks during a crash. According to notices published by Honda and the National Highway Safety Traffic Administration earlier this week, the pretensioners —...
Casey touts Senate legislation to improve coal miners’ access to black lung benefits
It’s been difficult for Tony Kodric to breathe since an injury a decade ago ended the Uniontown man’s 36-year career as a coal miner. He’s seen specialists, repeatedly measured the oxygen in his blood and battled coal companies. Despite Kodric’s efforts, the federal government won’t grant him monetary benefits for...
Retailers offer big deals for Black Friday, but will shoppers spend?
NEW YORK — Expect big discounts and other enticements to lure shoppers to stores for Black Friday. But retailers worry those may not be enough. Consumers are coming under pressure as their savings dwindle and their credit card debt grows. And although they have gotten some relief from easing inflation,...
More Americans are expected to ‘buy now, pay later’ for the holidays. Analysts see a growing risk
NEW YORK — Consumers are expected to use “buy now, pay later” payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit experts again sounding alarm bells. The short-term loans often come with consumer-friendly interest rates and allow shoppers to make an initial...
U.S. unemployment claims drop by 24,000 to 209,000, another sign of labor market resiliency
WASHINGTON — The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates. The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000. The previous week’s total — 233,000 — had been the highest...
U.S. egg producers conspired to fix prices from 2004 to 2008, a federal jury ruled
INDIANAPOLIS — An Illinois jury ruled this week that several major egg producers conspired to limit the U.S.’s supply of eggs in order to raise prices in a case stemming from a federal lawsuit originally filed 12 years ago. Several large food manufacturing companies including Kraft Foods Global, Inc. and...
Wall Street gains ground, led by travel-related companies
NEW YORK — Stocks rose on Wall Street Wednesday, led by big gains in travel-related companies as energy prices drop. The S&P 500 rose 0.5% and remains on track for a modest gain in a holiday-shortened week ahead of the Thanksgiving holiday in the U.S. The Dow Jones Industrial Average...
Holiday spending expected to grow as discounts, flexible spending plans heat up
The Casselberry family juggles a lot in December. One of their sons celebrates a birthday, and the holiday season kicks into full gear. Shopping at Walmart in Cranberry earlier this month, Josh and Riva Casselberry and their boys, Elliot, 4, and Sullivan, 2, took advantage of a break in their...
Western Pa. lawmakers call for increased service at locks and dams on Allegheny River
Western Pennsylvania’s congressional delegation is lobbying for increased maintenance and, in some cases, increased service levels for locks and dams on the Allegheny River. U.S. Reps. Guy Reschenthaler, R-Peters, Glenn “GT” Thompson, R-Centre County, and U.S. Sens. Bob Casey, D-Scranton, and John Fetterman, D-Braddock, sent a letter Monday to the...
UPMC reports $177M loss so far this year
Health care giant UPMC reported an operating loss of $177 million during the first nine months of the year, attributing the decrease to rising labor costs and supply markets, increases in medical claims as more patients accessed care, pharmaceutical expenses and legal settlements. The loss during the period that ended...
Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money launderingVideo
WASHINGTON — The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. Zhao...
Millennial Money: How to set good money examples for kids
Kids notice everything, whether you think they’re paying attention or not. They repeat the curse words you blurt out when you step on a toy, and spill your embarrassing family secrets to their friends. From a surprisingly early age, the kids in your life also notice money: who has it,...
