Business category, Page 255
Corona beer halts production in Mexico amid coronavirus pandemic
Grupo Modelo, which produces and exports several popular Mexican beer brands, including Corona, Pacifico and Modelo, will be temporarily suspending production and sales after its breweries were deemed non-essential by the Mexican government. The company posted the announcement on Twitter, stating it is halting production and pledging its “total commitment”...
No baseball, but my 30-30 Club continues
Among other pleasures quashed by the pandemic, the baseball season will be delayed (let’s hope not canceled). However, as a minor consolation, my 30-30 Club continues. In baseball, the 30-30 Club contains players who have hit 30 home runs and stolen 30 bases in the same season. In the past...
Wall Street leaps 7%, markets stage rally worldwide on coronavirus hopesVideo
NEW YORK — Investors grabbed hold of a few glimmers of hope Monday that the coronavirus pandemic could be slowing and sent stocks surging in a worldwide rally, capped by a 7% leap for the U.S. market. The number of new coronavirus cases is dropping in the European hotspots of...
Pa. ramps up effort to get businesses to help make medical equipment
An online portal created by state officials will help identify businesses that are building much-needed medical supplies and guide others who might be able to pivot their manufacturing toward creating those supplies, Gov. Tom Wolf said Monday. The Manufacturing Call to Action Portal will streamline the process for manufacturers who...
Giant Eagle to limit number of people allowed in stores
Giant Eagle said Monday it will begin limiting the number of customers who can shop at each store at one time. “As supermarkets, convenience stores and pharmacies remain in operation as essential community resources, we believe it’s vital to heighten our social distancing and sanitization procedures throughout the store,” company...
U.S. Postal Service hiring temporary employees
The U.S. Postal Service is hiring temporary workers to fill mail handling and processing positions at various locations in Western Pennsylvania, the agency announced Monday. People are needed to serve as mail handler assistants, mail processing clerk assistants, clerk assistants and city carrier assistants, according to the postal service. The...
Stocks rise sharply on signs of progress in battling virusVideo
NEW YORK — Stocks jumped in markets around the world Monday after some of the hardest-hit areas offered sparks of hope that the worst of the coronavirus outbreak may be on the horizon. U.S. stocks climbed more than 4% in the first few minutes of trading, following up on similar...
Grocery workers are key during the virus. And they’re afraid.
AUSTIN, Texas — Every day, grocery workers are restocking toilet paper, eggs, produce and canned goods as fast as the items fly off the shelves. They disinfect keypads, freezer handles and checkout counters as hundreds of people weave around them, sometimes standing too close for comfort amid the coronavirus pandemic....
Hunt for medical supplies creates marketplace of desperation
ANNAPOLIS, Md. — Shady middlemen, phantom shipments, prices soaring by the hour, goods flown in on a private plane. What sounds like an organized-crime thriller is now the new reality for governors desperately trying to find the medical equipment their states need in the throes of a pandemic. With the...
Walmart limits store access; US airlines sign up for grants
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus. ———————————— COSTS MOUNT: The pandemic will cost the global economy as much as $4.1 trillion,...
Small biz rescue off to spotty start; some banks not readyVideo
NEW YORK — The federal government’s relief program for small businesses is off to a bumpy start Friday, with few businesses able to apply and some big banks saying they’re not ready to process applications. Millions of small businesses are expected to apply for these desperately needed rescue loans from...
Mexican brewer of Corona beer suspends productionVideo
Looks like we won’t have Corona beer to kick around anymore. For a little while, at least. Grupo Modelo announced Thursday that it is suspending production of its Corona beer and other brands, including Modelo and Pacífico, after it was declared among the nonessential businesses in a Mexican government order...
Global stocks down with U.S. jobs, oil rally in focusVideo
BEIJING — Global stocks declined Friday after soaring U.S. job losses tempered enthusiasm about a possible deal to stabilize oil prices amid anxiety over the global economic decline due to the coronavirus pandemic. Markets in London and Frankfurt traded lower while Shanghai, Hong Kong and Sydney closed down. Tokyo ended...
Amazon to give warehouse workers masks and check temperatures after employee walkoutsVideo
Amazon is taking extra measures to protect its employees from coronavirus after recent public outcry and employee walk-outs. The company has ordered millions of face masks that are now arriving at warehouse centers for employees to wear. “Masks will be available as soon as today in some locations and in...
Stocks end another whipsaw day solidly higher, led by energyVideo
NEW YORK — Wall Street rallied Thursday for its first gain in three days after a sudden surge in oil prices revived beaten-down energy stocks. But, as has so often been the case in this year’s market sell-off, it took a few U-turns to get there. The price of crude...
Stocks climb as soaring oil prices resuscitate energy stocksVideo
NEW YORK — Wall Street pushed higher Thursday after a surge in oil prices helped resuscitate beaten-down energy stocks. The gains helped overshadow another report showing the coronavirus outbreak is forcing a record-breaking number of Americans into the unemployment queue. The S&P 500 rose more than 1.5% in morning trading...
Full Pint brewery closing, citing debt and market changes
Full Pint Brewery Co., one of the region’s first craft beer makers, said it is shutting down its operations. Full Pint filed for Chapter 11 bankruptcy in November, seeking protection from creditors while hoping to reorganize the brewery’s debt and possibly attract new investors, according to Barrett Goddard of Ligonier,...
Record 6.6 million Americans apply for unemployment in 1 weekVideo
WASHINGTON — More than 6.6 million Americans applied for unemployment benefits last week — doubling a record high set just one week earlier — a sign that layoffs are accelerating in the midst of the coronavirus. The stunning report Thursday from the Labor Department showed that job cuts are mounting...
West Virginia governor’s coal companies to pay $5M in fines
CHARLESTON, W.Va. — Billionaire West Virginia Gov. Jim Justice’s coal companies have agreed to pay more than $5 million for thousands of mine safety violations, federal prosecutors said Wednesday. The civil case brought by prosecutors in Virginia last year on behalf of the U.S. Department of Labor and the Mine...
Levin Furniture rescue complicated by Art Van bankruptcy; Pa. attorney general looks to protect customers
Robert Levin’s plans to revive the family furniture chain he sold in 2017 may be on hold until complex bankruptcy proceedings in Delaware unwind, he said. Also involved in those proceedings, with a scheduled hearing on Friday, is Pennsylvania Attorney General Josh Shapiro’s office, which is representing Levin Furniture customers...
Pittsburgh-based Honeycomb Credit offers loans to small businesses during coronavirus
Small businesses are among the hardest hit economically during the coronavirus pandemic. But there are now more options for help. Pittsburgh-based Honeycomb Credit, a startup investment crowdfunding platform, announced Wednesday the launch of its first Relief Loan Campaign. It provides working capital loans to small businesses during the pandemic. Each...
Fine Wine & Good Spirits losing $6.5 million a day, restarts online sales
Record sales on the eve of Gov. Tom Wolf’s temporary closure of state-run wine and liquor stores won’t be enough to offset growing losses — which threaten to end a two-decade streak of new revenue highs, a Tribune-Review analysis shows. Fine Wine & Good Spirits stores shuttered two weeks ago,...
Stocks skid worldwide as coronavirus infections keep soaringVideo
NEW YORK — U.S. stocks joined a worldwide downdraft Wednesday as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak. The S&P 500 dropped close to 3% in midday trading after President Donald Trump warned Americans to brace for “one of the roughest...
U.S. construction spending down 1.3% in FebruaryVideo
WASHINGTON — Spending on U.S. construction projects fell 1.3% in February with housing and nonresidential construction both showing weakness even before the coronavirus struck with force in the United States. The Commerce Department said Wednesday that the February decline followed a 2.8% rise in construction in January. Economists are forecasting...
What you need to do to get your government stimulus check
The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus outbreak. Most...
