Business category, Page 148

LONDON — OPEC and allied oil-producing countries decided Thursday to stick to a modest increase in production, even as Europe’s proposed phaseout of Russian oil threatens to yank millions of barrels off a global market already thirsty for crude. At an online meeting, the alliance known as OPEC+ — which...

NEW YORK — The Dow Jones Industrial Average surged more than 900 points and the S&P 500 had its biggest gain in two years Wednesday after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger interest rate hike after announcing the sharpest rate increase since 2000. The...

Nancy Polinsky Johnson, the publisher and editor of Shady Ave, has sold the quarterly magazine to Trib Total Media. The sale took effect on May 3. Shady Ave, launched 25 years ago, covers the East End neighborhoods of Pittsburgh, along with the Fox Chapel area and Oakmont. Trib Total Media...

The company behind the TurboTax tax-filing program will pay $141 million to customers across the United States who were deceived by misleading promises of free tax-filing services, New York’s attorney general announced Wednesday. Under the terms of a settlement signed by the attorneys general of all 50 states, Mountain View,...

Covid-19 vaccine and treatment sales helped Pfizer breeze past Wall Street’s first-quarter expectations, as the drugmaker’s profit grew 61%. The coronavirus vaccine Comirnaty, which has been Pfizer’s top seller for about a year, brought in more than $13 billion in sales in the quarter. The pill treatment Paxlovid, which launched...

WASHINGTON — Employers posted a record 11.5 million job openings in March and the United States now has an unprecedented two job openings for every person who is unemployed. The latest data released Tuesday by the further reveals and extraordinarily tight labor market that has emboldened millions of Americans to...

Contestants who picked energy stocks did well in my 14th annual stock picking contest. Almost everyone else did badly. My contest is called Dorfman’s Three Stock Derby. Each contestant picks three stocks. Total returns for the three are averaged, and the person with the highest average is the winner. Aside...

Thousands of Pennsylvanians have answered the call to support the University of Pittsburgh’s campaign to keep tuition discounts for in-state Pitt students, school officials report. The campaign began after some House Republicans indicated they might not support Pitt’s nonpreferred appropriation bill that typically passes in the Pennsylvania budget. The bill...

Spirit Airlines said Monday that it still supports Frontier Airlines’ $2.9 billion takeover bid for the airline, saying it was more likely to win regulatory approval than JetBlue’s competing $3.6 billion offer. Spirit said antitrust regulators are unlikely to approve JetBlue’s offer because of JetBlue’s alliance with American Airlines in...

BRUSSELS — The European Union said Monday it believes Apple abused its dominant position by limiting access to rivals to its mobile payment system Apple Pay. The European Commission, the 27-nation bloc’s executive arm, has been investigating the technology company since 2020. The commission’s preliminary view is that Apple is...

The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of which will compound Americans’ financial strains and likely weaken...

Airbnb will allow its employees to live and work almost anywhere around the world, fully embracing a remote work policy to attract staff and ensure flexibility. The San Francisco short-term-stay company said late Thursday that under the new policy, employees can work from the office, home or during their travels...

Apple on Thursday reported strong quarterly results despite supply shortages, but warned that its growth slowdown is likely to deepen. The company said it’s still struggling to get enough chips to meet demand and contending with covid-related shutdowns at factories in China that make iPhones and other products. Although initial...

Growth slammed into reverse at the start of this year for Robinhood Markets, whose trading app has turned millions of people into investors for the first time. The company said Thursday that it took in $299 million in revenue during the first three months of the year, down 43% from...

Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The Seattle-based e-commerce giant’s stock fell 9% in after-hours trading. Amazon reported a loss of $3.84 billion, or...

Google has expanded options for keeping personal information private from online searches. The company said Friday it will let people request that more types of content such as personal contact information like phone numbers, email and physical addresses be removed from search results. The new policy also allows the removal...

An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy. Yet there were signs in Friday’s report from the...

Stocks fell broadly in afternoon trading on Wall Street Friday, putting major indexes back into the red for the week after several sharp moves both up and down over the past few days. The S&P 500 fell 2.4% as of 2:01 p.m. Eastern. The Dow Jones Industrial Average fell 564...

NEW YORK — Major stock indexes on Wall Street notched their biggest gains in more than six weeks Thursday, as technology companies clawed back some of the ground they had lost recently. The S&P 500 rose 2.5%, with roughly 85% of the stocks in the benchmark index closing higher. The...

NEW YORK — Help wanted. The job: putting one of the nation’s most far-reaching salary disclosure laws into practice. Location: New York City. Just four months ago, city lawmakers overwhelmingly voted to require many ads for jobs in the nation’s most populous city to include salary ranges, in the name...

Boeing’s CEO is lamenting the deal that his company cut with former President Donald Trump to produce new Air Force One jets. David Calhoun said “it was a public negotiation” and “we took some risks” in accepting a fixed-price contract that made Boeing responsible if it cost more than expected...

Boeing said Wednesday that it lost $1.2 billion in the first quarter as it and took large write-downs and lost money in both its civilian-airplane and defense businesses. The loss was bigger than Wall Street had forecast, and the company’s quarterly revenue also fell short of expectations. Shares of Boeing...

It was Remington shaver spokesman Victor Kiam who famously said, “I like it so much, I bought the company.” For Elon Musk, the opposite is true. The world’s richest man, according to Forbes Magazine, Musk reached an agreement to buy Twitter for $44 billion on Monday and then said he...

Delta Air Lines, which is facing another attempt to unionize its flight attendants, will begin paying cabin crews during boarding, a first for a major U.S. airline. Across the airline industry in the United States, hourly pay for flight attendants starts when all the passengers are seated and the plane’s...