Business category, Page 2

The Federal Aviation Administration is seeking $3.1 million in fines from Boeing over safety violations, including ones related to an Alaska Airlines jetliner losing a door plug panel on its fuselage in midflight. The proposed penalty is for safety violations that occurred from September 2023 through February 2024, the FAA...

Another contract proposal has been rejected by Boeing workers who now have been on strike for nearly six weeks from three Midwest plants where military aircraft and weapons are developed. The vote on Friday refusing the latest proposal sends the workers back to the picket lines, according to the union...

Bank of New York Mellon is creating an artificial intelligence lab at Carnegie Mellon University as part of a $10 million investment into research and recruiting at the school. The partnership was unveiled Thursday just before the start of Pittsburgh’s AI Horizons Summit, a two-day event for government and industry...

Warner Bros. Discovery stock jumped more than 25% on Thursday after a report that the Larry Ellison-backed Paramount was preparing a cash bid to buy the company that owns HBO, CNN and the Warner Bros. studio. The Ellison family and RedBird Capital Partners acquired Paramount last month, and has signaled...

WASHINGTON — The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates. The request represents an extraordinary effort by the White House to shape the board before the Fed’s interest...

WASHINGTON — Inflation rose last month as the price of gas, groceries and airfares jumped while new data showed applications for unemployment aid soared, putting the Federal Reserve in an increasingly tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures. Consumer prices...

WASHINGTON — U.S. inflation likely ticked higher last month as the Trump administration’s import taxes have lifted the price of goods, potentially putting the Federal Reserve in a tough spot when it meets next week. Economists forecast that consumer prices rose 2.9% in August from a year earlier, according to...

FOLKSTON, Ga. — A South Korean charter plane arrived in Atlanta on Wednesday to take home Korean workers detained in an immigration raid in Georgia last week. Its planned return the same day was canceled, and South Korea’s Foreign Ministry later said the flight would take place at noon Thursday,...

NEW YORK — Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday, according to wealth tracker Bloomberg, as stock in his software giant rocketed more than a third in a stunning few minutes of trading. A college dropout, the 81-year-old...

WASHINGTON — U.S. producer prices fell unexpectedly last month, dropping 0.1% from July. The Labor Department reported Wednesday that its producer price index — which captures inflation in the supply chain before it hits consumers — showed that wholesale inflation decelerated in August after advancing 0.7% in July. Wholesale services...

Westmoreland County Airport Authority officials say they’ll stick with Spirit for commercial flights at Arnold Palmer Regional Airport although the budget carrier is headed into cloudy skies with its second bankruptcy declaration in less than a year. Spirit initially sought bankruptcy protection in November and emerged from Chapter 11 in...

WASHINGTON — A federal court ruled Tuesday that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Donald Trump’s efforts to fire her. The ruling, which will almost certainly be appealed, is a blow to the Trump administration’s efforts to assert more control over...

HARRISBURG — U.S. Steel will stop processing steel slabs at its Granite City Works plant in Illinois, three months after Nippon Steel sealed a deal with President Donald Trump to buy the iconic American steelmaker by giving the government a say over decisions that affect domestic steel production. U.S. Steel...

WASHINGTON — The income for the typical U.S. household barely rose last year and essentially matched its 2019 peak, the Census Bureau said Tuesday, a stark illustration of the impact that the pandemic inflation spike had on Americans’ finances. The report also showed that the highest-earning households received healthy inflation-adjusted...

Dick’s Sporting Goods has officially bought Foot Locker for $2.4 billion. Already one of the largest sporting goods retailers in the U.S., the Findlay-based company has gone global by adding about 2,400 Foot Locker locations in 20 countries. The deal was unveiled in May and finalized Monday. Foot Locker and...

Apple on Tuesday rolled out its next generation of iPhones that includes a new ultra-thin model and a slight price hike for one of its high-end models, while the company feels the squeeze of a global trade war. The iPhone 17 line-up includes a new slimmed-down model that will adopt...

High profits are the engine that can drive pleasant returns for shareholders. Beyond that, on a societal level, profits provide the signals that make the capitalist system work. These signals are the reason capitalist economies have fewer gluts and shortages than centrally planned (Communist) economies. High profits lure new competitors,...

Rivian has laid off about 200 employees as the electric vehicle maker prepares for a U.S. economy with fewer incentives to go green. The electric truck and sport-utility vehicle manufacturer is preparing for a challenging year in which it plans to launch a more affordable model even as it gets...

Rupert Murdoch’s family has reached a deal on control of the 94-year-old mogul’s media empire after his death, ensuring no change in direction at Fox News, the most popular network for President Donald Trump and conservatives. The deal creates a trust establishing control of the Fox Corp. for Lachlan Murdoch,...

WASHINGTON — Chief Justice John Roberts on Monday let President Donald Trump remove a member of the Federal Trade Commission, the latest in a string of high-profile firings allowed for now by Supreme Court. Trump first moved to fire Rebecca Slaughter in the spring, but she sued and lower courts...

Pittsburgh-based PNC Bank is buying a competitor in Arizona and Colorado for $4.1 billion. The bank announced Monday morning it’s absorbing 95 FirstBank branches and $27 billion in assets. FirstBank has a “leading” market position in Colorado and a “substantial presence” in Arizona, according to PNC. The number of PNC...

LOS ANGELES — Skyrocketing housing values and a shortage of homes on the market gave homeowners the upper hand for years when it came time to sell. That’s no longer a given. Across the country, it’s getting tougher for sellers to drive a hard bargain. A dearth of home shoppers...

SEOUL, South Korea — More than 300 South Korean workers detained following a massive immigration raid at a Hyundai plant in Georgia will be released and brought home, the South Korean government announced Sunday. Kang Hoon-sik, chief of staff for President Lee Jae Myung, said South Korea and the U.S....

The world’s richest man could become its first trillionaire if Elon Musk hits a series of extremely aggressive targets for his electric car company over the next decade, according to a proposed pay package released by the company. Tesla said in a regulatory filing Friday that it will hand Musk...