Business category, Page 99
Higher gas prices lift Fed’s preferred inflation gauge but underlying price pressures remain mild
WASHINGTON — An inflation gauge closely tracked by the Federal Reserve accelerated in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating. Friday’s report from the Commerce Department showed that prices rose 0.4% from July...
Cancer diagnostics firm says it’s growing on the North Side
After outgrowing its space in Harmar and moving to Pittsburgh’s North Side in May, Castle Biosciences has doubled its workforce. The company, which specializes in cancer diagnostics, employed about 70 people in September and plans to hire an additional 10 more by the end of the year, according to Kristen...
Duquesne Light says backup plan in place as union authorizes strike
If contract negotiations are not successful with Duquesne Light, workers represented by the International Brotherhood of Electrical Workers say they are prepared to walk off the job. As a public utility, Duquesne Light is required to have continuity plans in place that are approved by the Pennsylvania Public Utility Commission....
Netflix’s DVD-by-mail service bows out as its red-and-white envelopes make their final trip
The curtain is finally coming down on Netflix’s once-iconic DVD-by-mail service, a quarter century after two Silicon Valley entrepreneurs came up with a concept that obliterated Blockbuster video stores while providing a springboard into video streaming that has transformed entertainment. The DVD service that has been steadily shrinking in the...
Hyundai, Kia recall nearly 3.4 million vehicles due to fire risk and urge owners to park outdoors
DETROIT — Hyundai and Kia are recalling nearly 3.4 million vehicles in the U.S. and telling owners to park them outside due to the risk of engine compartment fires. The recalls cover multiple car and SUV models from the 2010 through 2019 model years including Hyundai’s Santa Fe SUV and...
Nursing home operator says without sale of some W.Pa. facilities, they may close
The embattled operators of 15 nursing homes in Pennsylvania said if they are not permitted to go through with the proposed sale of seven facilities in Western Pennsylvania, they may be forced to shut down, potentially displacing hundreds of residents. Attorneys for Comprehensive Healthcare said in a court filing this...
Pittsburgh to require inspections, permits for rental units, Airbnbs
Owners of rental units and Airbnbs in Pittsburgh will need to go through a permitting and inspection process after City Council on Tuesday approved legislation that aims to regulate such properties. People who own long- or short-term rental units will need to apply for a permit annually. They will need...
Target to close 9 stores, including 3 in the San Francisco Bay Area, citing safety concerns
NEW YORK — Target said Tuesday that it will close nine stores in four states, including one in New York City’s East Harlem neighborhood, and three in the San Francisco Bay Area, saying that theft and organized retail crime have threatened the safety of its workers and customers. The closings,...
John Dorfman: October a special month for stock market
We are coming up on a seasonal turning point in the stock market. October is special for three reasons: • It is the month when history’s most spectacular market crashes have occurred, most famously in 1929 and 1987. • Yet it is actually, on average, a pretty good month. •...
PPG leadership to transition officially in October
PPG is officially handing leadership of the Pittsburgh-based specialty coatings company to Tim Knavish, effective Oct. 1. The board of directors unanimously elected Knavish, 58, as president and CEO, succeeding Michael McGarry, 65, who served as chairman and CEO from 2016 to 2022 and is retiring as executive chairman. Knavish...
Pittsburgh had record low unemployment rate in August, state says
The number of people applying for unemployment benefits in the seven-county Pittsburgh region hit a new low in August. The seasonally adjusted unemployment rate in the area fell one-tenth of a percentage point over the month to a record low of 3.6%, the lowest level since record-keeping began in 1976,...
Amazon sued by FTC and 17 states over allegations it inflates online prices and overcharges sellers
Amazon is being sued by U.S. regulators and and 17 states over allegations that the company abuses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition. The lawsuit, filed Tuesday in U.S. District Court for the Western District of Washington, is the result...
U.S. consumer confidence tumbles in September as American anxiety about the future grows
WASHINGTON — The confidence of American consumers slipped this month, particularly about the future, as expectations persist that interest rates will remain elevated for an extended period. The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 103 in September from 108.7 in August....
Data privacy law seen as needed precursor to AI regulation
While artificial intelligence appears to be a shiny new bauble full of promises and perils, lawmakers in both parties acknowledge that they must first resolve a less trendy but more fundamental problem: data privacy and protection. With dozens of hearings on data privacy held in the past five years, lawmakers...
Apple harvest time: Wild swings in weather, slow spring start impact production
The fruits of the Simon family’s labors are on display for all to see at the Simon’s Apple Orchard store in Mt. Pleasant Township. The sweet smell of freshly harvested apples permeates the air as bags of apples are made ready for sale. “It was decent. Not a full crop...
Alcoa names new CEO in abrupt transition
Alcoa Corp. has replaced CEO Roy C. Harvey with the company’s chief operating officer, William F. Oplinger. Oplinger will serve as president, CEO and a member of Alcoa’s board of directors, the North Shore-based company announced Monday. The abrupt move went into effect Sunday. Harvey had been CEO since the...
Deal will bring added passenger rail service between Pittsburgh, NYC
PennDOT and Norfolk Southern Railway finalized an official agreement Friday to bring an additional round trip for passenger train service between Pittsburgh and New York City. PennDOT officials said the state will invest more than $200 million for infrastructure and safety improvements that will help to accommodate the additional trains....
Auto workers expand strike to 38 locations in 20 states, targeting Stellantis and GM
The United Auto Workers union expanded its strike against major carmakers Friday, walking out of 38 General Motors and Stellantis parts-distribution centers in 20 states. Ford was spared additional strikes because the company has met some of the union’s demands during negotiations over the past week, UAW President Shawn Fain...
With the future of AM unclear, a look back at the powerful role radio plays in baseball history
NEW YORK — Growing up in the Boston suburbs, Suzyn Waldman fell madly in love with two things: baseball and Broadway shows. During the 1950s and ’60s, the long arm of AM radio brought both into her home. “I can still hear Ned Martin of the Red Sox reciting poetry...
For rental properties and Airbnbs in Pittsburgh, inspections and permits soon could be required
Anyone who owns a rental property, including long-term rentals and Airbnbs, would be required to go through a permitting and inspection process under legislation advanced by Pittsburgh City Council. People would need to apply for a permit each year, according to the proposed legislation. They would be required to provide...
Pitt’s plan for a $250M biomanufacturing facility in Hazelwood moves forward
The University of Pittsburgh has received approval from the city’s Planning Commission to build a biomanufacturing facility in Hazelwood. The $250 million facility will serve as a cell and gene therapy innovation hub in the Hazelwood Green development along the Monongahela River. University officials have said about three-quarters of the...
U.S. Steel to test technology for capturing carbon emissions at Mon Valley Works
U.S. Steel plans to test new technology to capture emissions at its Mon Valley Works in Allegheny County. The Pittsburgh steelmaker is partnering with the National Energy Technology Laboratory to use an “advanced membrane technology” to capture carbon dioxide emissions from the Edgar Thomson Plant in Braddock. The unit is...
Kraft Heinz recalls some American cheese slices because wrappers could pose choking hazard
Kraft Heinz said Tuesday it’s recalling more than 83,000 cases of individually-wrapped Kraft Singles American processed cheese slices because part of the wrapper could stick to the slice and become a choking hazard. The company, which is based in Chicago and Pittsburgh, said one of its wrapping machines developed a...
Gambling brings home $457M for Pa. in August
Gambling in August climbed over the prior year, with much of the haul for Pennsylvania taxpayers coming from online games. But the August total was a slight drop compared to revenue in July, according to the Pennsylvania Gaming Control Board. Gaming raked in $457.15 million in August, a year-over-year increase...
John Dorfman: Short-selling contestants clean up betting on losses
In 20 years of running the annual Short Sellers Don’t Have Horns short-selling contest, I’ve never had a winner request anonymity. Until now. The winner, whom I will call Sam, is a 22-year-old stock analyst who recently earned a master’s degree in finance from a college in the Boston area....
