Business category, Page 125
Mexican president says Tesla to build plant in Mexico
MEXICO CITY — Mexico’s President Andrés Manuel López Obrador said Tuesday that electric car company Tesla has committed to building a plant in the industrial hub of Monterrey in northern Mexico. López Obrador said the promise came in phone calls he had Friday and Monday with Tesla head Elon Musk....
Viatris names new CEO
Cecil-based pharmaceutical company Viatris Inc. has named a new chief executive officer. Scott A. Smith will be taking the role of chief executive officer, effective April 1. Current CEO Michael Goettler will be working closely with Smith to support a transition, the company said. Smith has been a member of...
UPMC cites employment costs, pandemic as profits fell in 2022
Pittsburgh-based health care giant UPMC reported profits of about $238 million during 2022, a 71% drop compared to the previous year. Edward Karlovich, executive vice president and chief financial officer of UPMC, called it a “difficult year in health care,” but said UPMC made long-term investments in 2022 to improve...
Spirit flights to Myrtle Beach from Arnold Palmer airport to resume early
Flights on Spirit Airlines from Arnold Palmer Regional Airport in Unity to Myrtle Beach International Airport are scheduled to resume May 5, about a month sooner than expected. “We are hoping that this flight starting back up is the beginning of something big,” said Gabe Monzo, executive director of the...
John Dorfman: DEFT contest winners predict recession
“Think of the economy as a big exuberant dog that jumps up on people,” my father said to me long ago, “and think of the Fed as a man with a rolled up newspaper.” The man taps the dog lightly to get it to stop jumping, but that has no...
Pa. Chick-fil-A bans customers under 16 from dining in restaurant without adults
A Pennsylvania Chick-fil-A restaurant has banned customers within their dining room if they are under the age of 16 without an adult. The management of the Montgomery County store shared to their Facebook page that they “contemplated long and hard before posting this, but decided it was time” to limit...
Vento’s Pizza, home of ‘Franco’s Italian Army,’ to close
A hub for pizza and Steelers pride is preparing to close its doors. Vento’s Pizza on North Highland Avenue in East Liberty announced that it will turn out the lights on Saturday after nearly seven decades of slinging handmade pizzas and hoagies. “The family recipe has stood the test of...
Survey: Business economists push back U.S. recession forecasts
WASHINGTON — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates. Fifty-eight percent of 48 economists who responded to a survey...
Union Pacific will replace rail CEO amid hedge fund pressure
OMAHA, Neb. — Union Pacific announced plans Sunday to replace its CEO later this year after a hedge fund that holds a $1.6 billion stake in the railroad went public with its concerns about his leadership. The managing partner of Soroban Capital Partners, Eric Mandelblatt, said in a letter that...
So thrifty: Buying, selling secondhand is affordable, sustainable and fun
Browsing through Goodwill in Cheswick, Brooke Holler was sizing up a wooden easel she was hoping would make a nice stand for a sign at her wedding in September. Holler isn’t just an avid thrifter — she turned her passion into a business. She runs Busy Bee’s on the secondhand...
Key U.S. inflation measure surges at fastest rate since June
WASHINGTON — The Federal Reserve’s preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy and could lead the Fed to keep raising interest rates well into this year. Friday’s report from the Commerce Department showed...
Regional initiative launches on patient safety and technology in health care
Think about your smartphone. You rarely leave home without it, and there’s a team dedicated to making sure the device is upgraded and meaningful to you. But a dedicated team to making sure health care is safer for patients — and that workers can work in the best environments —...
A few things to know about Erin Brockovich ahead of East Palestine town hall
Environmental and consumer advocate Erin Brockovich plans to host a town hall Friday in East Palestine, Ohio, after a Norfolk Southern train carrying hazardous materials derailed Feb. 3 and released toxic chemicals. Here are a few things to know about the activist and public speaker.In 1993, law clerk Brockovich, an...
Construction of $40M workforce center proceeds on CCAC’s North Side campus
The timing seemed right in November 2019 when the Community College of Allegheny County announced an ambitious workforce development initiative that included building a multi-story academic hall and expanding programming to steer more students into high-demand fields. The areas of study slated for the new Workforce Development and Training Center...
Millions of U.S. workers are still missing after the pandemic. Where did they go?
Millions of workers are still missing from the U.S. labor force three years after covid-19 surfaced, and economists are scratching their heads as to how big the gap actually is and where all these people went. One estimate found at least 2.1 million who retired earlier then expected. Another calculated...
Stocks rise on Wall Street to break a 4-day losing streakVideo
NEW YORK — Stocks climbed Thursday after a see-saw day on Wall Street to break out of their longest losing streak since December. The S&P 500 rose 0.5% for its first gain in five days. The Dow Jones Industrial Average gained 108 points, or 0.3%, while the Nasdaq composite added...
How credit scores are evolving to improve access to credit
NEW YORK — A low credit score can hurt your ability to take out a loan, secure a good interest rate, or increase the spending limit on your credit card. Some reasons for a low score are out of your control — such as unexpected medical debt or a lack...
Aldi groceries can now be ordered on-demand via DoorDash
Aldi customers can now have their groceries delivered on-demand by DoorDash. DoorDash said Aldi has been one of the most requested grocer by its customers since it launched in 2020. The delivery service, DoorDash said, will be available for nearly all Aldi locations in 38 states. Customers can shop for...
U.S. applications for jobless benefits fall again last week
The number of Americans filing for jobless aid fell last week as the labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy. Applications for unemployment benefits in the U.S. for the week ending Feb. 18 fell by 3,000 last week...
Dick’s Sporting Goods to acquire outdoor retailer from Walmart
Dick’s Sporting Goods is acquiring outdoor retailer Moosejaw from Walmart. The deal is designed to expand the Findlay-based retailer’s outdoor portfolio, which includes its specialty retailer, Public Lands. Moosejaw, founded in Michigan in 1992, “operates a highly successful e-commerce platform, has a loyal customer base, strong vendor relationships with leading...
Proposal to build new Citizens Bank branch in East Liberty receives approval on 3rd try
Pittsburgh’s Planning Commission on Tuesday approved a plan to tear down and replace the Citizens Bank branch in East Liberty after previously denying two similar proposals. The building at 6112 Penn Ave. was constructed in 1969 and 1970, originally housing a Mellon Bank branch. Citizens Bank opened a branch there...
Stocks stall in mixed trading day after worst drop in months
NEW YORK — Stocks stalled in mixed trading on Wednesday, a day after falling to their worst loss since December, as Wall Street prepares for interest rates to stay higher for longer. The S&P 500 dipped 0.2% after drifting between small gains and losses through the day. The Dow Jones...
EQT donates oil and gas production equipment to Ukraine
Pittsburgh-based EQT Corp. said it has donated oil and gas production equipment to Ukraine’s largest natural gas producer. The equipment donation to JSC Ukrgasvydobuvannya will be used to restore damaged oil and gas production facilities and revive critical production in wartime conditions, EQT said. Russia’s invasion of Ukraine a year...
Amazon closes $3.9B buyout of health company One Medical
NEW YORK — Amazon said Wednesday it has closed its $3.9 billion acquisition of the primary care organization One Medical. The e-commerce giant has said the buyout, which was announced in July, is a key component of its growing health care business, which includes its online drugstore Amazon Pharmacy and...
Microsoft brings Bing chatbot to phones after curbing quirks
Microsoft is ready to take its new Bing chatbot mainstream — less than a week after making major fixes to stop the artificially intelligent search engine from going off the rails. The company said Wednesday it is bringing the new AI technology to its Bing smartphone app, as well as...
