Business category, Page 45
Dow leaps 1,100 points and S&P 500 rallies 3.3% following a 90-day truce in the U.S.-China trade war
NEW YORK — Stocks rallied Monday after China and the United States announced a 90-day truce in their trade war. Each of the world’s two largest economies agreed to take down temporarily most of its tariffs against the other, which economists had warned could start a recession and create shortages...
What’s that old gold ring worth? As prices surge, some are looking to sell, others buying amid volatile market
Rebecca Burns recently made a trip to The Pawn and Jewelry Exchange to find out how much her gold jewelry is worth. Skyrocketing gold prices, which have reached over $3,300 for a troy ounce of the precious metal, piqued her interest. Burns brought a necklace and other gold pieces of...
New Kensington’s Re:Build to boost U.S. production capacity for renewable hydrogen
A new partnership at New Kensington’s Advanced Manufacturing Park will put the city in the heart of the country’s growing hydrogen economy, area business leaders say. New York-based Ecolectro, a hydrogen production manufacturer, announced last week it has partnered with Re:Build Manufacturing to build next-generation electrolyzers. Ecolectro Chief Commercial Officer...
Economic jitters and soaring gold prices create a frenzy for U.S. jewelry merchants
LOS ANGELES — At the biggest jewelry center in the United States, Alberto Hernandez fired up his machine on a recent day and waited until it glowed bright orange inside before shoveling in an assortment of rings, earrings and necklaces weighing about as much as a bar of soap: just...
Google will pay Texas $1.4B to settle claims the company collected users’ data without permission
Google will pay $1.4 billion to Texas to settle claims the company collected users’ data without permission, the state’s attorney general announced Friday. In 2022, Attorney General Ken Paxton sued Google, saying the search giant collected millions of biometric identifiers, including voiceprints and records of face geometry, through its products...
Site of former Springdale power plant to be sold to data center developer
After a yearslong saga that resulted in the implosion of two towering smokestacks and the two-part demolition of a massive boiler house at the former Cheswick Generating Station, the property owner says the site will likely become a data center. Scott Reschly, president of Charah Environmental Redevelopment Group, the Louisville-based...
Barbie doll prices spike as Trump tariffs loom
With President Donald Trump warning that his tariff policy may cause the price of toys to spike, a Barbie with swimsuit accessories that cost $10.49 on April 16 is now selling at Target for $14.99 — marking a 43% increase. While it’s not clear if the higher price is directly...
Federal Reserve leaves key rate unchanged as it sees risk of higher prices and higher unemploymentVideo
WASHINGTON — The Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen. The Fed kept its rate at 4.3% for the third straight meeting, after cutting it...
Disney to build its 7th theme park, this one in the United Arab Emirates
Disney will build its seventh theme park, this one in the United Arab Emirates, the entertainment company said Wednesday. The waterfront resort will be built on Yas Island on the outskirts of Abu Dhabi city, already home to Formula One’s Abu Dhabi Grand Prix, the Ferrari and Warner Bros. amusement...
Little turbulence at Pittsburgh International as Real ID rules take effect
Tracy Moffat experienced only a minor hiccup with her Real ID as she used it for the first time Wednesday to fly from Boston to Pittsburgh. The identification requirement, which went into effect Wednesday, mandates anyone 18 or older present a Real ID or other acceptable identification — like a...
U.S. trade deficit hits record high as businesses, consumers try to get ahead of Trump tariffs
NEW YORK — The U.S. trade deficit soared to a record $140.5 billion in March as consumers and businesses alike tried to get ahead of President Donald Trump’s latest and most sweeping tariffs — with federal data showing an enormous stockpiling of pharmaceutical products. The deficit — which measures the...
What customers can expect as Rite Aid closes or sells all its drugstores
Rite Aid customers can expect their local store to close or change ownership in the next few months, as the struggling drugstore chain goes through another bankruptcy filing. The company plans to sell customer prescription files, inventory and other assets as it closes distribution centers and unloads store locations. Stores...
What your net worth statement is telling you
A summary of all your assets and liabilities is a crucial first step toward getting a better handle on your finances. Before you start putting together a net worth spreadsheet, gather as much information as you can to get the best sense of what it can tell you. Overall net...
U.S. expands attempt to blow up Google with proposed teardown of its ad technology
The U.S. Justice Department is doubling down on its attempt to break up Google by asking it to give up the underlying technology powering the company’s digital ad network. The proposed remedy joins a separate federal effort to separate the Chrome browser from its dominant search engine. The government’s latest...
Wall Street loses ground, breaking 9-day winning streak, and crude oil prices tumbleVideo
NEW YORK — Stocks closed lower Monday on Wall Street, breaking a nine-day winning streak, as oil prices hit a four-year low after the OPEC+ group announced plans to increase output. The losses came amid a relatively calm day of mostly mixed trading. They follow several weeks of gains that...
OpenAI reverses course, says its nonprofit will continue to control its business
After months spent pursuing a plan to convert itself into a for-profit business, OpenAI is reversing course and said Monday its nonprofit will continue to control the company that makes ChatGPT and other artificial intelligence products. “We made the decision for the nonprofit to stay in control after hearing from...
Rite Aid returns to bankruptcy protection as it seeks to sell all assets
Rite Aid is again seeking bankruptcy protection as the struggling drugstore chain says it will try to sell substantially all of its assets. The company said Monday that its stores will remain open as it returns to Chapter 11 bankruptcy proceedings. The company said it will work to ensure that...
Newark airport radar loss left controllers blind for 90 secondsVideo
WASHINGTON — Air traffic controllers guiding planes bound for Newark Liberty International Airport lost radar and radio communication for more than a minute early last week before flights at the key hub were snarled for days, according to people familiar with the matter. The outage of those key systems occurred...
Federal Reserve likely to defy Trump, keep rates unchanged this week
WASHINGTON — The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs. After causing a sharp drop in financial markets two weeks ago by saying he could fire Fed...
Warren Buffett to remain chairman at Berkshire Hathaway when Abel takes over as CEO in 2026
Billionaire Warren Buffett will remain chairman of Berkshire Hathaway when vice chairman Greg Abel takes over as CEO to begin 2026. The board of directors at the cash-rich conglomerate voted Sunday to keep the legendary 94-year-old investor as head of the board, a decision likely to relieve investors worried about...
How the stock market made back all its losses after Trump escalated the trade war
It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump’s “Liberation Day.” That’s when he shocked Wall Street by announcing much steeper tariffs than expected on nearly all U.S. trading partners. Those...
Warren Buffett shocks shareholders by announcing plan to retire at end of year
OMAHA, Neb. — Billionaire Warren Buffett shocked an arena full of shareholders Saturday by announcing that he will retire at the end of the year, bringing the curtain down on a six-decade run leading Berkshire Hathaway that made him the most influential investor in the world. Buffett said he will...
Warren Buffett shocks shareholders by announcing his intention to retire at the end of the year
OMAHA, Neb. — Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year. Buffett said he will recommend to Berkshire Hathaway’s board that Greg Abel should become CEO at the end of the year. “I think the...
Steelmaker Cleveland Cliffs to idle 3 steel plants in Pennsylvania and Illinois
HARRISBURG — Steelmaker Cleveland-Cliffs will indefinitely idle three steel plants this summer, saying Friday it is being buffeted by sluggish demand and pricing for some products, including high carbon steel sheets. The company said the idling of two Pennsylvania plants, one in Steelton and one in Conshohocken, and one in...
Wall Street extends its gains to a 9th straight day, reclaiming losses since tariff escalation
Wall Street extended its gains to a ninth straight day, marking its longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April. The rally on Friday was spurred by a better-than-expected report on the job market and resurgent...
