Business category, Page 52
Dollar General posts record sales as bargain stores attract more people anxious about the economy
Dollar General set a quarterly sales record of $10.44 billion and upgraded its annual profit and sales outlook as Americans tighten their budgets and spend more at bargain stores and off-price retailers amid economic uncertainty. The U.S. economy shrank at a 0.2% annual pace from January through March, the first...
Dave’s Hot Chicken sold to Subway owner Roark Capital in a $1 billion deal
Dave’s Hot Chicken said Monday it has been acquired by the private equity firm Roark Capital in a deal valued at $1 billion. Dave’s Hot Chicken got its start in 2017 as a popup in a Los Angeles parking lot. It has grown exponentially since then and expects to end...
To prevent blackouts, Trump administration keeps an aging Pa. power plant online through summer
HARRISBURG — The Department of Energy has ordered another power plant, this time an oil and gas plant in Pennsylvania, to keep its turbines running through the hottest summer months as a precaution against electricity shortfalls in the 13-state mid-Atlantic grid. The department’s order to the grid operator, PJM Interconnection,...
Oreo maker Mondelez sues Aldi, alleging grocery chain copies its packaging to confuse customers
Snack food maker Mondelez International is suing the Aldi supermarket chain, alleging the packaging for Aldi’s store-brand cookies and crackers “blatantly copies” Mondelez products like Chips Ahoy, Wheat Thins and Oreos. In a federal lawsuit filed Tuesday in Illinois, Chicago-based Mondelez said Aldi’s packaging was “likely to deceive and confuse...
New board reimagines Sewickley Valley Chamber of Commerce
The Sewickley Valley Chamber of Commerce is in a new era. The chamber is looking to broaden and strengthen its network by reinventing itself as a hub for business growth and community success, according to its new board of directors. “Local businesses now have a powerful new advocate with the...
U.S. inflation gauge cools with little sign of tariff impact
WASHINGTON — A key U.S. inflation gauge slowed last month as President Donald Trump’s tariffs have yet to noticeably push up prices, while American incomes jumped. Friday’s report from the Commerce Department showed that consumer prices rose just 2.1% in April compared with a year earlier, down from 2.3% in...
Federal job seekers will be quizzed on Trump’s executive orders
WASHINGTON — The Trump administration is adding four essay questions to applications for civil service jobs, asking applicants about their favorite executive orders and their commitment to government efficiency. The essay requirements apply even to relatively lower-level jobs starting at the GS-5 pay scale or above — positions that can...
Already numb to tariff twists, U.S. importers see legal decisions as another price of doing business
NEW YORK — Businesses rattled by President Donald Trump’s on again, off again tariffs absorbed more jolts on Thursday after a U.S. appeals court temporarily blocked a federal court order that would have halted most of his taxes on foreign imports. A three-judge panel of the U.S. Court of International...
Nakama Japanese Steakhouse mysteriously closes in South Side
Nakama Japanese Steakhouse and Sushi Bar on East Carson Street on Pittsburgh’s South Side appears to be closed for good. Rich Cupka, owner of Cupka’s Cafe 2, which is also on East Carson Street, confirmed the news to TribLive on Thursday. Cupka said he was outside of Nakama on Tuesday...
Appeals court allows Trump to continue collecting tariffs under an emergency powers law for now
WASHINGTON — A federal appeals court on Thursday allowed President Donald Trump to continue collecting tariffs under an emergency powers law for now, as his administration appeals an order striking down the bulk of his signature set of economic policies. The Court of Appeals for the Federal Circuit granted an...
Highmark ekes out $15 million margin in first quarter of 2025
Highmark Health brought in more money than it lost in the first quarter of 2025, but just barely. Financial results released Thursday show the health care and insurance provider made $15 million in operating income on $8 billion in revenue between January and March. The success, to some extent, was...
Giant Eagle to take over prescriptions from 78 Rite Aid stores
Giant Eagle will take over pharmacy prescriptions from 78 Rite Aid stores that are closing across Pennsylvania and Ohio, the supermarket chain announced Thursday. Rite Aid filed for Chapter 11 bankruptcy protection earlier this month. According to Giant Eagle, transferred prescriptions will go to locations most convenient for affected customers....
Victoria’s Secret U.S. website is down as lingerie seller addresses ‘security incident’
NEW YORK — Victoria’s Secret has taken down its U.S. website and says some in-store services will also be unavailable as it addresses an unspecified “security incident.” A message to customers remained in place of the popular lingerie brand’s normal shopping site Thursday, stating that the Ohio-based company had halted...
Average rate on a U.S. 30-year mortgage rises to 6.89%, its highest level since early February
The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers. The rate increased to 6.89% from 6.86% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.03%. Borrowing...
Hit by Trump trade wars, U.S. economy falls 0.2% in 1st quarter, an upgrade from initial estimate
WASHINGTON — The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business, the government said Thursday in a slight upgrade of its initial estimate. First-quarter growth was brought down by a surge in...
JD Vance urges crypto industry to stay involved in politics as he touts Trump administration’s recordVideo
Vice President JD Vance praised the cryptocurrency industry Wednesday and urged it to remain active in U.S. politics and policymaking, highlighting the Trump administration’s close ties to a deep-pocketed industry that’s become a powerful force in Washington. Speaking at a bitcoin conference in Las Vegas, Vance urged the crypto executives...
ATI’s Specialty Rolled Products lands long-term Airbus deal
ATI has a multi-year contract with Airbus, the world’s leading helicopter manufacturer and largest producer of airliners. The majority of the deal will be served by Specialty Rolled Products, ATI’s Harrison facility, with other operations in Brackenridge, Vandergrift, Latrobe and Washington, Pa. The specialty metals manufacturer will produce Airbus’ titanium...
Macy’s profit and sales slip and it cuts profit forecast for 2025, but tops Q1 expectations
NEW YORK — Macy’s sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that the U.S. trade war will have on the company and its shoppers, trimmed its profit forecast for 2025. However, the New York retailer which also owns...
Walmart adds Bethel Park Shopping Center to sprawling real estate portfolio
Walmart has bought the Bethel Park Shopping Center for $39.6 million, reflecting its longstanding strategy of owning its stores and, often, surrounding properties. Allegheny County property records show the 22-acre lot changed hands May 5. The previous owner, Texas-based commercial real estate firm Tabani Group, bought the center in 2023...
John Dorfman: 5 companies that consistently buy back their own shares
When a company buys back its own shares, shareholders often benefit. With fewer shares outstanding, each share is likely to be worth more. In the past 20 years, buybacks have become increasingly popular. Many companies prefer them to dividends because they have a softer tax impact. Dividends stick shareholders with...
United is narrowing its check-in window for U.S. flights. Here’s how it compares to other airlines
NEW YORK — Stragglers beware: U.S. travelers flying with United Airlines will have to check in to domestic flights a little earlier starting next week. That is, if they’re customers only taking carry-on bags. Effective June 3, United’s “check-in cutoff” for most U.S. flights will be 45 minutes before departure....
Southwest Airlines grounds free bag policy
Southwest Airlines, long favored by travelers for its free checked bags, is ending that popular policy. Starting Wednesday, most Southwest passengers will pay $35 for their first checked bag and $45 for the second, the New York Times reported. However, customers flying Business Select or those with high loyalty status...
Volvo Cars cutting 3,000 jobs to reduce costs
FRANKFURT, Germany — Sweden-based Volvo Cars is eliminating 3,000 positions as part of a cost-cutting program as the automotive industry faces challenges from trade tensions and resulting economic uncertainty. The company said Monday that around 1,200 of the job reductions would come among workers in Sweden, with another 1,000 positions...
U.S. government to have control in Nippon Steel-U.S. Steel deal, Trump and Sen. McCormick say
HARRISBURG — U.S. Sen. David McCormick said Tuesday that an arrangement that will allow Japan-based Nippon Steel to invest in U.S. Steel will guarantee an American CEO, a majority of board members from the United States and U.S. government approval over certain corporate functions. The Pennsylvania senator spoke on CNBC,...
Trump administration orders Michigan coal plant to stay open
DETROIT — The U.S. Energy Department ordered a Michigan coal-fired power plant to remain open, at least until late August, citing possible electricity shortfalls in the central U.S. State regulators immediately fired back, saying it’s unnecessary to keep Consumers Energy’s J.H. Campbell plant open. It was supposed to close May...
