Business category, Page 100
More evidence that the U.S. job market remains hot after job openings rise unexpectedly in August
WASHINGTON — U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong despite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve. American employers posted 9.6 million job openings in August, up from 8.9 million in July and the...
John Dorfman: RTX, Timken, SeaWorld hit Casualty List
The harsh market climate of August and September has left quite a few stocks selling for what I consider bargain prices. Welcome to the 82nd quarterly Casualty List, featuring stocks that have been knocked around and that I think have the potential to recover and thrive. RTX Corp. I’ll start...
President of Trulieve Cannabis retires
The president of Trulieve Cannabis Corp. has stepped down, effective Oct. 1. Steve White will continue to serve as a strategic adviser for the cannabis company until his anticipated retirement at the end of this year. Mr. White co-founded Harvest Health & Recreation in 2011 and served as its CEO...
Viatris to sell several business segments for almost $7 billion
Pharmaceuticals giant Viatris Inc. said Monday it has agreed to sell several business segments in a planned divestiture. The Cecil-based company will sell substantially all of its Over-the-Counter (OTC) business, Women’s Healthcare business, Active Pharmaceutical Ingredients business in India. The company is also selling commercialization rights that were acquired when...
UAW union reaches a tentative contract agreement with Mack Trucks
The United Auto Workers union has reached a tentative contract agreement with Mack Trucks that covers about 4,000 workers in three states. Mack Trucks confirmed a tentative agreement on a five-year contract early Monday after the UAW announced the deal just before midnight Sunday. “The terms of this tentative agreement...
Self-driving vehicle testing in Pittsburgh area shifting gears to focus on trucking industry
Not long ago, cars topped with a futuristic apparatus could regularly be seen cruising along Pittsburgh’s streets, testing technology that allowed the vehicles to get around without a person steering the wheel. But such car sightings have become rare as the autonomous vehicle sector has refocused from the hype of...
Riders protest Pittsburgh Regional Transit’s plan to shorten 4 routes
A group of bus riders on Friday protested Pittsburgh Regional Transit’s plan to shorten four bus routes starting Sunday, saying the changes will adversely affect city residents, particularly in Uptown and Downtown. The transit agency said the routes are being shortened because of the University Line bus-rapid transit construction project...
United Autoworkers strikes spread to Chicago and Lansing as 7,000 more workers join picket line
DETROIT — The United Auto Workers union says its two-week strike against Detroit automakers will spread to 7,000 more workers at a Ford plant in Chicago and a General Motors assembly factory near Lansing, Michigan. Union President Shawn Fain told workers on a video appearance Friday that negotiations haven’t broken...
Biden calls for up to 3 oil and gas lease sales in the Gulf of Mexico, disappointing all sides
WASHINGTON — President Joe Biden’s administration on Friday proposed up to three oil and gas lease sales in the Gulf of Mexico but none in Alaska as it tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want Biden to shut down new...
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...
