Business category, Page 137

Southwestern Pennsylvania has secured a $62.7 million federal grant that local officials hope will boost the region’s robotics and artificial intelligence industries and allow small businesses to take advantage of that growth. The White House announced Thursday the newly formed Southwestern Pennsylvania New Economy Collaborative will receive its funding through...

WASHINGTON — America’s employers slowed their hiring in August in the face of rising interest rates, high inflation and sluggish consumer spending but still added 315,000 jobs. The government reported Friday that last month’s job gain was down from 526,000 in July and below the average gain of the previous...

WHITE SULPHUR SPRINGS, W.Va. — Pure Watercraft will manufacture electric-motor pontoon boats in West Virginia, Gov. Jim Justice announced. The Seattle-based company will invest at least $5 million in a former steel plant in the Northern Panhandle community of Beech Bottom and expects to create more than 100 full-time jobs...

Permanently misspelled tweets might soon be a thing of the past. Twitter said Thursday it will roll out an editing feature to subscribers of its premium Twitter Blue service later this month. In an update on its plans to introduce an edit button, the social media company said it has...

DETROIT — Ford is recalling nearly 200,000 large SUVs in the U.S. because the heating and cooling fan motors can fail and catch fire. The recall covers Ford Expeditions and Lincoln Navigators from the 2015 through 2017 model years. The Dearborn, Mich., company says in government documents that it has...

Bed Bath & Beyond said it’s close to securing financing and is putting in place a new business strategy to reduce costs as the troubled retailer tries to convince investors, vendors and customers that it has a credible survival plan. The home-goods retailer said it has received commitments for a...

Pittsburgh-based health care giant Highmark Health on Tuesday reported a net loss of $174 million during the first six months of the year, driven by steep investment losses. Highmark Health reported $12.9 billion in revenue during the first half of the year, up 25% over the same period a year...

Tesla CEO Elon Musk and Twitter lobbed more accusations at each other Tuesday in the latest round of legal filings over Musk’s efforts to rescind his offer to buy the social media platform. Musk filed more paperwork in his bid to terminate the deal, this time based on information in...

He wasn’t kidding. Jerome Powell, chairman of the Federal Reserve Board, said Friday that the Fed’s Open Markets Committee will “use our tools forcefully,” and keep raising interest rates until inflation comes down. This is “no place to stop or pause,” he said. Investors winced, and stocks tumbled. The so-called...

TOKYO — Major South Korean battery maker LG and Japanese automaker Honda are investing $4.4 billion in a joint venture in the United States to produce batteries for Honda electric vehicles in the North American market, the two companies said Monday. The plant’s site is still undecided, but construction will...

LANSING, Mich. — Workers at a Chipotle store in Michigan have voted to unionize, becoming the first of the Mexican fast-food chain’s 3,000 locations to do so amid a broader unionization push across the country. The International Brotherhood of Teamsters said workers at a Chipotle store in Lansing, Mich., “voted...

NEW YORK — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties. Inflation was already causing some homeowners to delay big renovation projects as prices for building materials, fixtures and appliances jumped....

Covid-19 vaccine maker Moderna is suing Pfizer and the German drugmaker BioNTech, accusing its main competitors of copying Moderna’s technology in order to make their own vaccine. Moderna said Friday that Pfizer and BioNTech’s vaccine Comirnaty infringes on patents Moderna filed several years ago protecting the technology behind its preventive...

WASHINGTON — Inflation eased last month as energy prices tumbled, raising hopes that the surging costs of everything from gasoline to food may have peaked. According to a Commerce Department report Friday that is closely watched by the Federal Reserve, consumer prices rose 6.3% in July from a year earlier...

JACKSON HOLE, Wyoming — Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades. Powell acknowledged that the Fed’s continued tightening of credit will cause...

Starbucks baristas in Hampton voted 15-0 Thursday to join Workers United Pennsylvania Joint Board, an affiliate of Services Employees International Unit, for representation in collective bargaining. The store is located in the Hampton Shoppes strip mall at 4655 Route 8 in Hampton. The union will cover about 31 full-time and...

WASHINGTON — The U.S. economy shrank at a 0.6% annual rate from April through June, the government said Thursday in an upgrade from its initial estimate. It marked a second straight quarter of economic contraction, which meets one informal sign of a recession. Most economists, though, have said they doubt...

NEW YORK — Dollar Tree and Dollar General reported rising sales in the second quarter as four-decade high inflation drove more more customers to the bargain chain stores for everything from lightbulbs to groceries. Dollar stores tend to sell items in small quantities, not big packages, allowing low-income customers to...

WASHINGTON — U.S. lawmakers are anxious to hear from Twitter’s former security chief, who has alarmed Washington with allegations that the influential social network misled regulators about its cyber defenses and efforts to control fake accounts. Leaders of several congressional panels are poring over the disclosures by respected cybersecurity expert...

A major biomanufacturing partnership is coming to Pittsburgh’s Hazelwood Green development. The University of Pittsburgh on Thursday announced a 30-year partnership that will bring Massachusetts-based ElevateBio to the university’s Pitt BioForge Biomanufacturing Center at Hazelwood Green. Officials said the partnership will bolster the development of innovative cell and gene therapies....

LONDON — Conditions are dimming at many movie theaters around the world. Cineworld Group PLC, one of the industry’s biggest theater operators, confirmed Monday that it’s considering filing for Chapter 11 bankruptcy protection in the U.S., as it contends with billions of dollars in debt and more empty seats in...

NEW YORK — Unlike its cars, Tesla shares are about to get less expensive. Tesla is splitting its stock 3 for 1, so after the close of trading Tuesday, investors will receive two additional Tesla shares for every one they owned as of Aug. 17. In theory, that should drop...

The euro has fallen below parity with the dollar, diving to its lowest level in 20 years and ending a one-to-one exchange rate with the U.S. currency. It’s a psychological barrier in the markets. But psychology is important, and the euro’s slide underlines the foreboding in the 19 European countries...

DETROIT — Hyundai and Kia are telling owners of some of their large SUVs to park them outdoors and away from buildings after a series of fires involving trailer hitch wiring. The Korean automakers are recalling more than 281,000 vehicles in the U.S. because of the problem, but they haven’t...