Business category, Page 105

North Shore-based aerospace parts maker Arconic is being purchased by private-equity firm Apollo Global Management Inc., the company announced Thursday. The cash transaction values Arconic at an enterprise value of about $5.2 billion, according to a press release from the company. Under the agreement, Arconic shareholders will receive $30 per...

Physical, speech and occupational therapists at Brighton Rehabilitation and Wellness Center in Beaver County are preparing to go on a nine-day strike over claims of unfair labor practices, including what they say is the nursing home’s failure to bargain in good faith. During a news conference Wednesday afternoon, therapists represented...

More than two-thirds of West Penn Power Co.’s employees at its Greensburg headquarters likely will be reassigned to other offices in the utility’s service area in the next few years as the company reevaluates its use of the building, a company spokeswoman said Wednesday. Many began working remotely since the...

LOUISVILLE, Ky. — Two 10-year-olds are among 300 children who worked at McDonald’s restaurants illegally, a Labor Department investigation of franchisees in Kentucky found. Agency investigators found the 10-year-olds received little or no pay at a McDonald’s in Louisville, the Labor Department said. The three franchisees were fined $212,000 in...

U.S. regulators say Facebook misled parents and failed to protect the privacy of children using its Messenger Kids app, including misrepresenting the access it provided to app developers to private user data. As a result, The Federal Trade Commission on Wednesday proposed sweeping changes to a 2020 privacy order with...

COLUMBUS, Ohio — Google plans to build two more data centers in Ohio to help power its artificial intelligence technology and other tools, the company and state officials announced Wednesday. With one data center already up and running near Columbus, the two new locations will bring Google’s total investment in...

WASHINGTON — The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signaled that it may now pause its streak of 10 rate hikes, which have made borrowing for consumers...

The backlash brewing from a movement to boycott Bud Light because of its partnership with transgender influencer Dylan Mulvaney has drastically cut sales of the top-selling brand at numerous Pittsburgh-area beer distributors. But the sharp dip since Mulvaney’s Instagram post April 1 to promote Bud Light’s March Madness contest does...

The new combination of two beloved Pittsburgh beverages — Turner’s iced tea and Iron City Beer — is back on the shelves. Pittsburgh Brewing Company’s new creation, IC’d Tea, hit shelves across Southwestern Pennsylvania in mid-April. Demand was strong and about a week later it had completely sold out, said...

SAN FRANCISCO — Even before he joined Lyft’s board in 2021, David Risher had taken hundreds of trips as a passenger so he felt like he knew a lot about the ride-hailing service. But he never expected to be thrust into the driver’s seat at a time when Lyft was...

WASHINGTON — U.S. job openings fell in March to the lowest level in nearly two years, a sign that the American labor market is cooling in the face of higher interest rates. Employers posted 9.6 million vacancies in March, down from nearly 10 million in February and lowest since April...

Giant Eagle is listening. That’s the message the O’Hara-based chain wants to make clear to customers. Whether it’s about the printed weekly circular (reappearing soon because of high demand) or price reductions on items (starting this week), Giant Eagle wants your feedback. It’s been about six weeks since Bill Artman,...

More than 50% of Americans will be diagnosed with a mental illness or disorder during their lifetime, according to the Centers for Disease Control and Prevention. Chances are, some of these individuals will be inheriting wealth at some point. If a family member’s mental health issues may interfere with their...

NEW YORK — Comcast subscribers aren’t able to view NFL Network after the cable company pulled the channel when its carriage agreement expired. The move comes two days after the conclusion of the NFL draft. Both sides still have time to reach an agreement before training camps start throughout the...

WASHINGTON — Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. could default on its debt as early as June 1, if legislators do not raise or suspend the nation’s borrowing authority before then and avert what could potentially become a global financial crisis. In a letter to...

Lordstown Motors Corp. may be forced to cease operations and file for bankruptcy after manufacturing giant Foxconn told the electric-vehicle company that it’s prepared to pull out of a production partnership. The deal with Foxconn Technology Group could unravel after the Taiwanese company threatened to withhold funding, something that could...

NEW YORK — The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring up to $250,000 in bank deposits and replace it with an overhaul that would allow regulators to cover higher amounts on a “targeted” basis. The proposed change appears to openly acknowledge that...

NEW YORK — Recent turmoil in the banking industry may have you worried about your money. Officials announced Monday that they closed San Francisco-based First Republic Bank, making it the third U.S. bank to collapse in the past two months. Most of First Republic’s assets are being acquired by JPMorgan....

NEW YORK — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of...

Walk up to any graduate student in finance. Ask her to design a stock-picking screen. I’ll bet you a milkshake that she will design something more complex than my Old Faithful stock-selection paradigm. Yet, my picks in this column drawn from Old Faithful have averaged more than a 19% return...

WASHINGTON — The Federal Reserve blamed last month’s collapse of Silicon Valley Bank on poor management, watered-down regulations and lax oversight by its own staffers, and said the industry needs stricter policing on multiple fronts to prevent future bank failures. The Fed was highly critical of its own role in...

WASHINGTON — A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated last month, keeping the Fed on track to raise interest rates next week for the 10th time since March of last year. The index, which excludes volatile food and energy costs to...

FRANKFURT, Germany — The European economy scraped out meager growth in the first three months of the year, barely gaining momentum as stubborn inflation raises the price of groceries and erodes people’s willingness to spend paychecks that are failing to keep pace. Friday’s less-than-stellar increase of 0.1% from the previous...

Bucco fever is contagious, and the wins on the field don’t just mean good numbers in the standings. Those wins can add up off the field, too — in terms of dollars. According to the Pirates official retail partner Fanatics, which handles both in-venue retail and e-commerce for the team,...

American Airlines recorded a first-quarter profit for the first time in four years, CEO Robert Isom told investors Thursday. The Fort Worth carrier produced a record $12.2 billion revenue, a 37% year-over-year increase. The bulk of that came from passenger revenue at $11.1 billion. “American is off to a fantastic...