Target books strongest sales growth in 4 years with customers buying into refreshed line up
NEW YORK — Target, which embarked on a turnaround plan under its new CEO three months ago, reported its largest jump in comparable sales in four years Wednesday. More customers buying in all six of Target’s main merchandising categories helped deliver the better-than-expected sales, the company said. Comparable sales —...
Single Gen Z women outpace Gen Z men to homeownership despite overall decline in first-time buyers
LOS ANGELES — Single Gen Z women are outpacing their male counterparts when it comes to buying a home. They accounted for 35% of all homebuyers in their generation, while single Gen Z men represented 18%, according to survey data from the National Association of Realtors. NAR surveyed people who...
John Dorfman: My ‘Do Nothing’ stocks just might do something
Could a Tyrannosaurus see its prey if the prey held still? I believe that is an unresolved question in paleontology. But let’s suppose the answer is no. I think there’s a parallel in the stock market. Momentum investors will be all over a stock that’s making new highs. Value investors...
Trump discloses thousands of stock trades, some in companies directly influenced by his policies
NEW YORK — Call him the Trader in Chief. Recent presidents have stayed away from trading stocks in companies whose fortunes they could lift or scuttle with the stroke of a pen, but Donald Trump smashed that precedent in the first quarter of this year with more than 3,600 buy...
U.S. stocks fall further from their records after bond markets crank up the pressure
NEW YORK — The U.S. stock market is giving back more of its record-setting rally on Tuesday as bond markets rattled by high inflation keep cranking up the pressure. The S&P 500 fell 0.3% and was on track for a third straight loss after setting its latest all-time high. The...
Negotiators reach a deal to end strike on North America’s busiest commuter rail system
NEW YORK — Negotiators on Monday reached a deal to end the strike that stalled service on the Long Island Rail Road, the busiest commuter rail system in North America. Gov. Kathy Hochul said in a statement on X that the deal “delivers raises for workers while protecting riders and...
Federal court rejects Elon Musk’s claims against OpenAI, saying he filed his lawsuit too late
OAKLAND, Calif. — A federal court on Monday dismissed claims filed against OpenAI and its top executives by Elon Musk, who accused them of betraying a shared vision for it to remain a nonprofit dedicated to guiding artificial intelligence’s development for the good of humanity. The nine-person jury found Musk...
Councilman pitches plan for East Carson Street improvement district in South Side
A proposal introduced Monday before Pittsburgh City Council would establish an improvement district along East Carson Street in the South Side, part of a broader effort to attract investment and reshape the corridor’s image beyond its reputation as a troubled nightlife destination. The proposal would provide funding to enhance maintenance,...
Summer travelers who relied on Spirit Airlines may struggle to find budget alternatives
Days after Spirit Airlines shut down in the middle of the night, a lawyer for the defunct budget carrier stood before a bankruptcy judge and apologized to the price-conscious customers who might struggle to find affordable flights in its absence. “We apologize most specifically for those Americans who may now...
China agrees to boost trade for U.S. beef and poultry following Trump-Xi summit
WASHINGTON — China has agreed to ramp up trade for U.S. agricultural products such as beef and poultry, buying at an annualized rate of $17 billion per year for 2026 and at that level for 2027 and 2028, the White House announced Sunday, two days after President Donald Trump returned...
Hemingway’s heartbreak and the long decline of Oakland’s bar scene
Hemingway’s Cafe sure got its swan song. The Oakland bar recently had some of its busiest nights ever as students and alumni swung by for their last hurrah before the college hangout closed forever. Owner John Elavsky announced in January that Hemingway’s would end its decades-long run May 3. In...
Swirl of public money backing $418M hotel proposal at David L. Lawrence Convention Center
A planned $418 million hotel at the David L. Lawrence Convention Center in Downtown Pittsburgh will be funded with ample public dollars, including money from the city, Allegheny County and state. Loews Hotels has signed a letter of intent to build a 500-room hotel attached to the convention center, Gov....
For residents of Virginia’s ‘data center alley,’ the industry underpins economy — but with costsVideo
This is the second installment of a TribLive occasional series on data center development in Western Pennsylvania. Today’s story looks at the boom in data center construction in Northern Virginia and what life is like living next to a data center. PRINCE WILLIAM COUNTY, Va. — Greg Pirio says the...
Trump says China agreed to buy 200 Boeing planes and signaled interest in as many as 750
Aircraft manufacturer Boeing will make its first major sale to China in nearly a decade with an order for 200 planes, President Donald Trump told reporters Friday as he flew back from his summit with Chinese President Xi Jinping. Speaking to reporters aboard Air Force One, Trump said China reserved...
Powell’s legacy at the Fed to be shaped by his misjudging inflation and standing up to Trump
WASHINGTON — When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had jobs. Now, as Powell steps down from the post after eight tumultuous years, the U.S. economy is...
Luxury convention center hotel planned for Pittsburgh
A 500-room hotel is planned for a site adjacent to the David L. Lawrence Convention Center in Downtown Pittsburgh, which will give the city two hotels attached to the convention center along the Allegheny River according to state, city and county officials. Loews Hotels & Co. of New York City,...
Cisco leads Wall Street to more records and the Dow back to 50,000
NEW YORK — The U.S. stock market rose to more records Thursday after Cisco Systems joined the parade of U.S. companies reporting fatter profits for the start of 2026 than analysts expected. The S&P 500 climbed 0.8% to set an all-time high for a second straight day. The Dow Jones...
Business resistance forming to Allegheny County’s paid parental leave proposal
A proposal by Allegheny County health officials to mandate 18 weeks of paid parental leave would increase time off for many working mothers and fathers in the county, but some business owners and their representatives argue it would come at too great a cost. The Allegheny County Board of Health...
Penn Brewery listed for sheriff’s saleVideo
Penn Brewery has been listed for sheriff’s sale. The brewery, which filed for Chapter 11 bankruptcy protection last month, was listed by creditor First Commonwealth Bank on the Allegheny County Sheriff Office’s website updated May 8. Three tracts at the brewery’s Vinial Street location are scheduled for auction June 1...
Average U.S. long-term mortgage rate eases to 6.36% in 1st drop after 2 straight weekly increases
The average long-term U.S. mortgage rate edged lower this week, its first drop after rising the previous two weeks. The benchmark 30-year fixed rate mortgage rate fell to 6.36% from 6.37% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.81%. Borrowing costs on 15-year...
Retail sales growth slowed in April from March as higher gas cost leaves less room for nonessentials
NEW YORK — Shoppers tempered their spending in April as higher gas prices fueled by the Iran war meant less money left over for some nonessentials like clothing and furniture. But they’re still buying, thanks to more generous government tax refunds. Still, economists worry that spending will fall off more...
Producer prices shot up 6%, adding pressure on companies to hike prices for struggling customers
WASHINGTON — U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, the highest point in more than three years, as the Iran war pushes up energy prices and intensifies pressure on companies to pass along their rising costs to consumers. The Labor Department...
Senate Democrats plan to force votes on Consumer Financial Protection Bureau rollbacks
NEW YORK — Senate Democrats plan to force several votes on the Trump administration’s dismantling of the Consumer Financial Protection Bureau, a maneuver aimed at making vulnerable Republicans take politically difficult votes in an election year. The plan to hold the votes Wednesday, shared exclusively with The Associated Press, is...
What a gas tax suspension could mean for drivers and the prices they see at the pump
NEW YORK — As steep fuel prices strain household budgets during the war with Iran, U.S. President Donald Trump wants to suspend his government’s tax on gasoline. It’s a move Trump can’t do on his own — and the president has yet to specify how long he’d like such pause...
John Dorfman: 3-Stock Derby winner sold top pick too soon
A nurse from North Carolina beat 41 other contestants to take first place in my annual stock-picking contest, Dorfman’s Three-Stock Derby. Heather Fisher, a nurse in Chapel Hill, won primarily because of a huge gain in Aehr Test Systems (AEHR). It rose 849%, helping her achieve an average return of...
