Business category, Page 62
New venture possibly coming to top of U.S. Steel tower
The view from the top of the U.S. Steel Tower, an iconic skyscraper in Downtown Pittsburgh, is breathtaking. People may be able to take in that site once again. Pittsburgh native Jeremy Goldman is working on a project through Honeycomb Credit to raise funds for tours such as those on...
U.S. consumer sentiment ticks higher for 2nd month but remains subdued
WASHINGTON — Americans’ outlook on the economy improved for the second straight month in September, bolstered by lower prices for long-lasting goods such as cars and furniture and the prospect of interest rate cuts by the Federal Reserve. The University of Michigan’s consumer sentiment index ticked up to 69 in...
Boeing factory workers go on strike after rejecting contract offer
SEATTLE — Aircraft assembly workers walked off the job early Friday at Boeing factories near Seattle and elsewhere after union members voted overwhelmingly to go on strike and reject a tentative contract that would have increased wages by 25% over four years. The strike started at 12:01 a.m. PDT, less...
USPS’ long-awaited new mail truck makes its debut to rave reviews from carriers
ATHENS, Ga. — The Postal Service’s new delivery vehicles aren’t going to win a beauty contest. They’re tall and ungainly. The windshields are vast. Their hoods resemble a duck bill. Their bumpers are enormous. “You can tell that (the designers) didn’t have appearance in mind,” postal worker Avis Stonum said....
U.S. filings for unemployment benefits inch up slightly but remain historically low
Slightly more Americans filed for unemployment benefits last week, but layoffs remain at historically low levels despite two years of elevated interest rates. Jobless claims rose by 2,000 to 230,000 for the week of Sept. 7, the Labor Department reported Thursday. That number matches the number of new filings that...
Most Americans don’t trust AI-powered election information: AP-NORC/USAFacts survey
WASHINGTON — Jim Duggan uses ChatGPT almost daily to draft marketing emails for his carbon removal credit business in Huntsville, Alabama. But he’d never trust an artificial intelligence chatbot with any questions about the upcoming presidential election. “I just don’t think AI produces truth,” the 68-year-old political conservative said in...
Norfolk Southern fires CEO Alan Shaw for an inappropriate relationship with an employee
Norfolk Southern said Wednesday it has fired CEO Alan Shaw for having an inappropriate relationship with a subordinate. His ouster comes after two difficult years in the top job and just days after the company’s board announced it was investigating him for alleged ethical lapses. The Atlanta-based railroad said Shaw...
Campbell wants to say goodbye to the ‘soup’ in its name. It isn’t the first to make such a change
NEW YORK — Campbell is ready to drop the soup — at least from its official name. Campbell Soup Co. announced its intention to change its name at an annual meeting of investors on Tuesday. The 155-year-old food seller, which is most famous for its namesake canned soups, says it...
John Dorfman: Chief executives buy at HighPeak Energy and MRC Global
Jack Hightower is a well-known guy in the oil business. His company, HighPeak Energy Inc. (HPK), based in Fort Worth, Texas, is barely known by investors. In late August and early September, Hightower spent more than $2.8 million to increase his stake in HighPeak, a company he founded. That brings...
Bad blood between USW, Nippon Steel may have doomed U.S. Steel deal from the start, emails show
On July 12, Takahiro Mori of Nippon Steel, the Japanese firm knee-deep in what increasingly appears to be a doomed acquisition of U.S. Steel, met with United Steelworkers President David McCall for the second time this year. A few days later, the Nippon executive vice president emailed McCall to thank...
U.S. inflation reaches a 3-year low as Federal Reserve prepares to cut interest ratesVideo
WASHINGTON — The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates and likely shaping the economic debate in the final weeks of the presidential race. The report, released Wednesday by...
Southwest Airlines shakes up its board under pressure from a big shareholder
Southwest Airlines will revamp its board and the chairman will retire next year, but it intends to keep CEO Robert Jordan in a partial concession to hedge fund Elliott Investment Management, which has been pushing for changes at the airline including Jordan’s ouster. Southwest said Tuesday that six directors will...
Outgoing State System chancellor tapped by firm for national role
State System of Higher Education Chancellor Daniel Greenstein will join the consulting firm Baker Tilly and its higher education advisory practice. Greenstein, 64, will lead initiatives that deal with fast-evolving needs of higher education institutions, “prioritizing improved student outcomes and long-term institutional sustainability by optimizing operations, aligning academic portfolios with...
Google loses final EU court appeal against 2.4 billion euro fine in antitrust shopping case
LONDON — Google lost its final legal challenge on Tuesday against a European Union penalty for giving its own shopping recommendations an illegal advantage over rivals in search results, ending a long-running antitrust case that came with a whopping fine. The European Union’s Court of Justice upheld a lower court’s...
Google faces new antitrust trial after ruling declaring search engine a monopolyVideo
ALEXANDRIA, Va. — One month after a judge declared Google’s search engine an illegal monopoly, the tech giant faces another antitrust lawsuit that threatens to break up the company, this time over its advertising technology. The Justice Department, joined by a coalition of states, and Google each made opening statements...
AI: The new financial adviser? Not quite yet
Eric Kish is a fan of artificial intelligence. The Tarentum resident said he’s seen its efficiency through his work at a local insurance agency. “It makes processes go quicker — 24 hours a day as opposed to 9 to 5 when you have to talk to someone,” he said. Kish...
As artificial intelligence surges across daily life, so do concerns
The breakneck pace of advancements in artificial intelligence development has led to the technology touching seemingly every facet of life, from work to finances to health care. That rapid growth and unchecked development have created as much anxiety as hope, from Wall Street to the White House. But while AI...
These men are credited as being founding fathers of AI — and 2 are from Carnegie Mellon
Pittsburgh may not be the birthplace of AI, but it served as a cradle. And the technology is older than you probably think. Carnegie Mellon University is one of the places where AI was being developed more than 50 years ago. Tom Mitchell, who has taught at Carnegie Mellon since...
Stellantis recalls 1.5M Ram trucks to fix software bug that can disable stability control
DETROIT — Stellantis is recalling nearly 1.5 million Ram pickup trucks worldwide to fix a software problem that can disable the electronic stability control system. The recall covers certain trucks from the 2019 and 2021 through 2024 model years, mostly in North America. Stellantis said in a statement Saturday that...
Tyler Coulverson bridges financial literacy gaps, empowers communities in homeownership
When Tyler Coulverson was growing up, he only knew a CD as a small, round disc that loaded into a player and music echoed out. That’s the experience of many. “I spent many years thinking a CD was just an old-school disc, but in reality, a CD is a certificate...
Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers
WASHINGTON — The IRS has collected $1.3 billion from high wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden’s signature climate, health care and tax package signed into law in 2022. Treasury Secretary Janet Yellen and IRS...
U.S. hiring rebounds slightly and unemployment rate dips in sign of still-slowing job market
WASHINGTON — Hiring by America’s employers picked up a bit in August from July’s sluggish pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy. Employers added 142,000 jobs last month, up from just 89,000...
With Musk’s X banned in Brazil, its users carve out new digital homes
RIO DE JANEIRO — As billionaire Elon Musk’s clash with a Brazilian Supreme Court justice came to a head last week, there were legal twists, insults, ultimatums, defiance and then, finally, capitulation. When the digital dust settled, X had become an ex. Musk’s social media platform was banned nationwide and...
The U.S. government is looking into airline frequent-flyer programs
The Biden administration says it is examining the four largest U.S. airline frequent-flyer programs and how they devalue points that consumers have earned and frequently change the number of points or miles needed to book flights. Transportation Secretary Pete Buttigieg wrote to the CEOs of American, Delta, Southwest and United...
Verizon is buying Frontier in $20B deal to strengthen its fiber network
Verizon is buying Frontier Communications in a $20 billion deal to strengthen its fiber network. Verizon Communications Inc. said Thursday that the acquisition will also shore up its foray into artificial intelligence as well as connected smart devices. Frontier has concentrated heavily on its fiber network capabilities over about four...
