Business category, Page 134

The long list of celebrities promoting cryptocurrencies just got shorter. Kim Kardashian is being barred from doing so for three years — and will pay a $1 million fine — to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear that...

Investors suffered their third unpleasant quarter in a row in the quarter that just ended. After this pounding, quite a few stocks look attractive to me. I’ve highlighted a few of them on my Casualty List. This list, which I compile each quarter, contains stocks that have been smacked down...

Four people with significant ties to Pittsburgh made the latest Forbes 400 ranking of wealthiest Americans. David Tepper tops the local connections with an appearance at No. 33 with an estimated net worth of $18.5 billion. Tepper, the president and founder of the Appaloosa Management hedge fund, was raised in...

Kim Kardashian has agreed to pay $1.26 million to settle Securities and Exchange Commission charges that she promoted a cryptocurrency on Instagram without disclosing that she’d been paid $250,000 to do so. The SEC said Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing...

WASHINGTON — President Joe Biden, a self-described “car guy,” often promises to lead by example on climate change by moving swiftly to convert the sprawling U.S. government fleet to zero-emission electric vehicles. But efforts to eliminate gas-powered vehicles from the fleet have lagged. Biden last year directed the U.S. government...

DETROIT — An early prototype of Tesla Inc.’s proposed Optimus humanoid robot slowly and awkwardly walked onto a stage, turned, and waved to a cheering crowd at the company’s artificial intelligence event Friday. But the basic tasks by the robot with exposed wires and electronics — as well as a...

WASHINGTON — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell...

NEW YORK — Stocks fell broadly Thursday on Wall Street as worries about a possible recession and rising bond yields put the squeeze back on markets. The S&P 500 fell 2.1%, reaching its lowest level since late 2020. The washout erased the index’s gains in a big rally the day...

WASHINGTON — The economy shrank in the first half of this year, the government confirmed in a report Thursday, underscoring fears of a broad-based slowdown that could lead to a recession. At the same time, the number of people seeking unemployment benefits — a figure that often reflects the pace...

NEW YORK — Stocks are back to falling on Wall Street Thursday as worries about a possible recession and rising bond yields put the squeeze back on markets. The S&P 500 was 1.8% lower after sinking even more in the morning to its lowest level since late 2020. The washout...

LORDSTOWN, Ohio — Commercial electric vehicle startup Lordstown Motors says it has slowly started production of its first model, the Endurance pickup. The struggling company says it has built two pickups, with a third to be finished shortly. It plans to ramp up production depending on quality and parts availability,...

WASHINGTON — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic contraction, one informal rule of thumb for a...

WASHINGTON — President Joe Biden on Wednesday warned oil and gas companies against increasing prices for consumers as Hurricane Ian neared landfall along Florida’s southwest coast. “Do not, let me repeat, do not use this as an excuse to raise gasoline prices or gouge the American people,” Biden said at...

PORTLAND, Ore. — A renewable energy plant being commissioned in Oregon on Wednesday that combines solar power, wind power and massive batteries to store the energy generated there is the first utility-scale plant of its kind in North America. The project, which will generate enough electricity to power a small...

Spotlight PA is an independent, nonpartisan newsroom powered by The Philadelphia Inquirer in partnership with PennLive/The Patriot-News, TribLIVE/Pittsburgh Tribune-Review, and WITF Public Media. Sign up for our free newsletters. HARRISBURG — Pennsylvania’s rent and property tax rebate program — which helps older and disabled residents offset the rising cost of...

NEW YORK — Stocks gave up early gains and turned lower in afternoon trading on Wall Street on Tuesday as markets stagger amid recession worries. The volatile trading comes a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market, joining other major U.S. indexes....

LONDON — The British pound stabilized Tuesday as U.K. authorities tried to ease investor concerns after the biggest tax cuts in 50 years sent the currency tumbling to a record low the previous day. The turmoil is already having real-world effects, with several British mortgage lenders pulling offers from the...

The largest stocks dominate the headlines — and investors’ wallets. So even though I’m fond of off-the-beaten-path stocks, once a year I give my buy-or-avoid ratings on the 20 largest stocks. Today’s the day. • Apple Inc. (AAPL, $2.4 trillion market value). Buy. The company’s iPhones and Mac computers have...

Ollie’s Bargain Outlet president and CEO John Swygert described the last two-and-a-half years as “a total rollercoaster ride.” “It was a challenge from every aspect you could think of,” he said. In December 2019, co-founder and longtime Ollie’s CEO Mark Butler died unexpectedly at the age of 61. Butler was...

WASHINGTON — President Joe Biden announced a new initiative Monday that would eventually allow consumers to see a more complete price on airline tickets — including baggage and change fees — before they buy, as the White House continues to search for ways to lower costs for Americans amid persistently...

LONDON — The pound is taking a pounding. The British currency has taken a plunge, sliding against the U.S. dollar to touch an all-time low. It’s a sign of the alarm in financial markets over new Prime Minister Liz Truss’ emergency budget measures unveiled last week aimed at jump-starting the...

Amazon said Monday that next month it will hold a second Prime Day-like shopping event, making it the latest major retailer to offer holiday deals earlier this year to entice cautious consumers struggling with tighter budgets. During the Oct. 11-12 event, Amazon Prime members will get early access to discounted...