Business category, Page 121

Bank of New York Mellon is planning to lay off 3% of its workforce, or about 1,500 jobs. The New York-based financial firm that employs thousands in the Pittsburgh region, did not specify where those jobs would be located or what categories would be impacted. “We continue to optimize our...

SAN FRANCISCO — While still grappling with the fallout from a company he did take private, beleaguered billionaire Elon Musk is now facing a trial over a company he didn’t. Long before Musk purchased Twitter for $44 billion in October, he had set his sights on Tesla, the electric automaker...

When inflation rises, child care expenses do, too. If you’re a parent, you may be hoping to get a little financial relief during the upcoming tax season through deductions or credits. But since there have been recent reductions to both of the child tax credits, you may not get as...

After years of being in debt, Rachel Kramer Bussel came to a realization: “If I don’t become proactive about it, I will be in debt for the rest of my life.” For Bussel, a freelance writer near Atlantic City, New Jersey, that meant scaling back spending and putting any available...

Chris Galarza remembers working as a chef in restaurants where the thermometer in his pocket easily would reach 135 degrees. Sometimes, it would get so hot in the kitchen, as the gas burners fired away, that it made the staff nauseous. Gas stoves are not only common but often preferred...

When 2022 began, Amazon.com Inc. (AMZN) was Wall Street analysts’ favorite stock. Thirty-one analysts said to buy it, with nary a “hold” or “sell” to be heard. The stock fell nearly 50% last year. This is not an anomaly. The other stocks the analytical corps adored when the year began...

Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation partly based on a recommendation from Cook himself. Apple Inc. said in a regulatory filing late Thursday that Cook’s target total compensation is...

NEW YORK — Donald Trump’s company was fined $1.6 million Friday for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks — a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets. A fine was the only penalty...

DETROIT — With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. The company dropped prices nearly 20% in the...

An Oakland business incubator closed its initial investment — over $300,000 — in one of its first cohort of companies through its ‘angel investment’ program. Idea Foundry’s program, IF Ventures, said the company that received the infusion was one of five presented to a group of investors in September. Idea...

In perhaps one of the most cynically ironic twists in the field of climate science, new research suggests ExxonMobil may have had keener insight into the impending dangers of global warming than even NASA scientists but still waged a decades-long campaign to discredit research into climate change and its connection...

Health care giant UPMC announced it is raising minimum wage for entry-­level positions to $18 an hour by 2025 for workers in Pittsburgh, Harrisburg and Williamsport. Starting wages at UPMC’s other sites in Western Pennsylvania, western Maryland and southwest New York will reach $18 an hour by 2026. “This is...

A Carnegie Mellon University administrator and former Obama administration official is Gov.-elect Josh Shapiro’s pick to serve as secretary of the state Department of Community and Economic Development. Rick Siger, chief of staff and senior adviser to the president at Carnegie Mellon, will begin the job next Tuesday after Shapiro...

NEW YORK — Wall Street is wobbling Thursday as it digests a report showing inflation slowed again last month, bolstering hopes the Federal Reserve may take it easier on the economy through smaller hikes to interest rates. The S&P 500 was 0.2% lower after flipping between small gains and losses...

WASHINGTON — Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation’s grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it. Inflation declined to 6.5% in December compared with a year earlier, the government...

WASHINGTON — For months, the outlook for the U.S. economy has been a mostly bleak one: Inflation hitting a four-decade high, consumer spending weakening, interest rates surging. Most economists penciled in a recession for 2023. An economic downturn is still possible. Yet in recent weeks, with inflation showing widespread signs...

Thousands of travelers were stranded at U.S. airports Wednesday due to an hours-long computer outage. More than 1,100 U.S. flights were canceled and nearly 8,000 flights were delayed as of Wednesday afternoon, according to the tracking site FlightAware. Even though the Federal Aviation Administration was at fault for the outage,...

Shortly before 10 a.m. Wednesday, Pittsburgh International Airport looked as though it was in a state of suspended animation. A computer glitch in a government system largely brought airlines to a halt, delaying or canceling thousands of flights across the U.S. earlier in the morning. The carousels in the normally...

LAS VEGAS — From electric cars and boats to wireless TVs to the latest phones and tablets, there was a wide range of innovations on display at the CES tech show in Last Vegas last week. Some of it aimed to solve big real world problems. Some of it aimed...

Knowing if you’re being paid fairly for the work you do is a mystery shrouded in a lack of information. That may be changing, though, and pay transparency may be the catalyst. It’s a growing trend for companies to reveal what a job opening or current position pays — whether...

OMAHA, Neb. — Chickens may not be able to fly very far, but the price of eggs is soaring. A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of...

Amtrak’s upgraded passenger trains, expected to be put into service later this decade, will have a West­more­land County connection. Roechling Industrial Mt. Pleasant, a machine plastics company that has operated in the county since 1981, has been tapped to produce interior ceilings, door motor cases and other projects for the...

PennDOT is receiving $171.5 million in grants to expand its electric vehicle infrastructure. As part of the Bipartisan Infrastructure Law, PennDOT will receive the federal funds for electric vehicle charging infrastructure over the next five years. For the first round of funding, PennDOT has advanced appropriations of $25.4 million for...