Business category, Page 154

FREEPORT, Maine — A greater interest in the outdoors during the pandemic helped to drive double-digit revenue growth for L.L. Bean, allowing the board to provide a healthy bonus for workers Friday. Sales grew by 14% during the retailer’s 2021 fiscal year, the biggest gain since 1993, and a cash...

After more than 50 hours of public hearings and debate lasting some eight months last year, Amazon announced Thursday it was pulling out of its proposed massive warehouse project at the former George Westinghouse Research and Technology Park in Churchill. Amazon said in a statement that it has decided not...

WASHINGTON — Average long-term U.S. mortgage rates rose this week as the key 30-year loan vaulted over 4% for the first time since May 2019. The increase came amid expectations that with inflation at a four-decade high, the Federal Reserve would raise its benchmark short-term interest rate at its policy...

Whether out of necessity due to staffing shortages, out of respect for social distancing or perhaps just to save money, one of the primary amenities that sets a hotel apart from your home — daily housekeeping — is disappearing. The days of returning to a wrinkle-free duvet are likely gone....

Amazon has officially acquired MGM Studios for $8.45 billion — a deal that will bring thousands of movies and TV show episodes to Prime Video. The deal was first announced in May 2021. MGM Studios tweeted, “So excited to share that MGM is now part of Prime Video and Amazon...

NEW YORK — Stocks are opening lower on Wall Street Thursday but are still holding on to sizable gains for the week. Traders are turning cautious as oil prices surge again, pushing U.S. benchmark crude up 7% and back above $100 a barrel. That’s a worrisome sign for inflation, which...

Russia’s war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe, the Organization for Economic Cooperation and Development warned Thursday. In a grim new assessment, the 38-country OECD said that over the next year, the conflict would reduce...

Stocks rose in afternoon trading Wednesday and Wall Street added to its gains as markets gather hope that there may be better news on the horizon on inflation, the war in Ukraine and other worries that have been keeping investors unsettled. The S&P 500 rose 1.7% as of 12:06 p.m....

While PixCams of Murrysville is best known for its live Pittsburgh Hays bald eagle webcam, the small company has been expanding and now has 30 live webcams. They rolled out a new product for the public, businesses and nonprofits to set up their own live webcam system and broadcast it...

NEW YORK — Technology companies led stocks broadly higher Tuesday on Wall Street, as oil prices slid sharply for the second day and inflation worries ebbed. The market rally came a day ahead of the Federal Reserve’s highly anticipated interest rate policy update. The S&P 500 rose 2.1%, ending a...

Another mode of transportation has been impacted by the fallout over Russia’s invasion of Ukraine as gas prices soar — and it might affect Americans’ vacation plans. The cost of jet fuel for commercial airplanes has also spiked, with prices per gallon rising above $4 at one point since the...

Stocks lost more ground, crude oil prices fell and bond yields rose sharply Monday as anxiety over the war in Ukraine and an upcoming Federal Reserve meeting on interest rates keep global financial markets on edge. The S&P 500 gave up an early gain and closed 0.7% lower after another...

Pennsylvania’s payrolls grew again in January, the unemployment rate crept down and the labor force expanded after more than a year of contraction, according to new figures released Friday. Pennsylvania’s unemployment rate dropped a tenth of a percentage point to 5.4% from December’s adjusted rate, according to the state Department...

Stocks slipped on Wall Street Thursday as global markets remain choppy amid uncertainty about where inflation, interest rates and the global economy are heading. The S&P 500 slumped 1.2% in morning trading, on pace for its fifth drop in the last six days. It marks another reversal for U.S. stocks,...

NEW YORK — Angry, defiant and sometimes tearful, more than two dozen Americans whose lives were upended by the opioid crisis finally had their long-awaited chance Thursday to confront in court some members of the family they blame for fueling it. They were unsparing as they unleashed decades of frustration...

NEW YORK — Goldman Sachs says it is closing its operations in Russia entirely, making it the first major Wall Street bank to do so since Russia invaded Ukraine. Goldman’s announcement comes after Citigroup said it would start winding down its Russia operations. But that process will likely take longer...

WASHINGTON — Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come. The increase reported Thursday by the Labor Department reflected the 12 months ending in February...

WASHINGTON — Slightly more Americans applied for unemployment benefits last week, but layoffs have settled to the low, pre-pandemic levels seen before the coronavirus recession in 2020. Jobless claims rose by 11,000 to 227,000 for the week ending March 5, the Labor Department reported Thursday. The previous week’s number was...

WASHINGTON — Some social media users suggest that soaring fuel prices in the U.S. aren’t the result of Russia’s invasion of Ukraine, increased consumption or supply chain issues as daily life resumes after two years of stagnation brought on by the coronavirus pandemic. Instead, the flurry of Facebook and Twitter...

WASHINGTON — U.S. businesses posted a near-record level of open jobs in January, a trend that has pushed up worker’s pay and added to inflationary pressures in the U.S. Employers posted 11.3 million jobs at the end of January, down slightly from a record of 11.4 million in December, the...

NEW YORK — Stocks are heading back up, and oil prices are easing Wednesday in the latest dizzying swings to hit Wall Street amid uncertainty about the war in Ukraine. The S&P 500 was 2% higher in early trading, following a four-day losing streak that had pulled it 13% below...

DETROIT — BMW is recalling more than 917,000 older cars and SUVs in the U.S. — most for a third time — to fix a problem that can cause engine compartment fires. The recall covers many 3 Series, 5 Series, 1 Series, X5, X3, and Z4 vehicles from the 2006...

Mortgage interest rates have dropped to historic lows in the last couple of years, presenting many homeowners the chance to save money by refinancing their loans — an opportunity that Black and low-income homeowners haven’t been able to enjoy because of various barriers. According to a report released this month...

DETROIT — McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric — ubiquitous global brands and symbols of U.S. corporate might — all announced Tuesday they were temporarily suspending their business in Russia in response to the country’s invasion of Ukraine. “Our values mean we cannot ignore the needless human suffering unfolding...