Business category, Page 64
Mark Cuban stumps for Kamala Harris’ economic agenda, says Trump’s will increase inflation
Billionaire and Pittsburgh native Mark Cuban knows a bit about starting and growing businesses, but he first learned about being broke, eating condiment sandwiches and scraping by to keep a fledgling enterprise going. Speaking to a room of small business owners and entrepreneurs Saturday in East Liberty, Cuban, 66, used...
In a suburban Miami shopping center, Kmart’s last ‘Blue Light Specials’ flicker
MIAMI — The last Kmart on the U.S. mainland sits at the west end of a busy suburban Miami shopping center, quiet and largely ignored. All around it are thriving chain stores attracting steady streams of customers in sectors where the former box-store chain was once a major player: Marshalls,...
‘We can do big things’: Shapiro unveils $600M makeover for Downtown Pittsburgh
Buoyed by nearly $600 million of investments, a new plan for Downtown Pittsburgh unveiled Friday by Gov. Josh Shapiro includes nearly 1,000 new housing units, improvements to public spaces in the Golden Triangle and increased public safety efforts. “To have a strong and vibrant commonwealth of Pennsylvania, you have to...
Russia’s central bank raises interest rate to 21% to fight inflation boosted by military spending
MOSCOW — Russia’s central bank on Friday raised its key interest rate by two percentage points to a record-high 21% in an effort to combat growing inflation as government spending on the military strains the economy’s capacity to produce goods and services and drives up workers’ wages. The central bank...
McDonald’s says onions from California grower linked to deadly E. coli outbreak
A California grower was the source of fresh onions linked to a deadly E. coli food poisoning outbreak at McDonald’s, officials with the restaurant chain said Thursday. Meanwhile, other fast-food restaurants — including Taco Bell, Pizza Hut, KFC and Burger King — pulled onions from some menus. McDonald’s officials said...
U.S. applications for jobless benefits fall, but continuing claims rise to highest level since 2021
The number of Americans filing for unemployment benefits fell last week, but the total number of those collecting benefits rose to its highest level in almost three years. The Labor Department reported Thursday that applications for jobless claims fell by by 15,000 to 227,000 for the week of Oct. 19....
Boeing factory workers vote to reject contract and continue 6-week strike
SEATTLE — Boeing factory workers voted Wednesday to reject the company’s latest contract offer and to continue a six-week strike that has halted production of the aerospace giant’s bestselling jetliners. Local union leaders in Seattle said the proposal fell short of the majority of support needed from members of the...
U.S. fines American Airlines $50 million over mishandling of disabled passengers, wheelchairsVideo
DALLAS — The U.S. government fined American Airlines $50 million for failing to provide wheelchair assistance to passengers with disabilities and damaging thousands of wheelchairs over a five-year period, The Transportation Department said Wednesday that “in some cases,” wheelchair users were injured, but it did not give a number. American...
McDonald’s tries to reassure customers after deadly E. coli outbreak
McDonald’s said Wednesday that customers should feel confident ordering from its restaurants despite a deadly E. coli outbreak linked to its Quarter Pounders. McDonald’s U.S. President Joe Erlinger said in an interview on the “Today” show that the company has removed the Quarter Pounder from its menu in the 10...
Zillow to show climate risk data on home listings
If you’re looking to purchase a home, it might be important to consider potential environmental threats. Zillow is adding a climate risk threat score to every home listing on its platform, the Washington Post reported. According to a Zillow survey in 2023, 80% of buyers now consider climate risks when...
U.S. home sales slowed again in September, falling to weakest annual pace in nearly 14 years
LOS ANGELES — Sales of previously occupied U.S. homes slowed in September to the weakest annual pace in nearly 14 years even as mortgage rates eased and the supply of properties on the market continued to climb. Existing home sales fell 1% last month, from August, to a seasonally adjusted...
Von Maur to open in South Hills Village
There will be another option for shopping this holiday season. Von Maur will open its 38th store in South Hills Village Mall at 10 a.m. Nov. 9. The company, headquartered in Davenport, Iowa, has been making its way east, said Melody Wright, chief operating officer for Von Maur, which has...
Deadly E. coli outbreak linked to McDonald’s Quarter Pounders sickens dozens in 10 states
E. coli food poisoning linked to McDonald’s Quarter Pounder hamburgers has sickened at least 49 people in 10 states, including one person who died and 10 who were hospitalized, federal health officials said Tuesday. The death was reported in an older person in Colorado, and one child has been hospitalized...
Denny’s says it expects to close 150 locations by the end of 2025
Denny’s says it’s closing 150 of its lowest-performing restaurants in an effort to turn around the brand’s flagging sales. About half of the closures will happen this year and the rest in 2025, the company said during a meeting with investors Tuesday. The locations weren’t revealed, but the restaurants represent...
John Dorfman: Billion-dollar market value a sweet spot for stocks
I like companies with a market value around $1 billion. I think it’s a sweet spot — big enough to be “discovered” by institutional investors yet small enough to show dramatic growth. Each year around this time, I’ve written about a few companies in that size range, on the border...
Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
DETROIT — Had she wanted to, Michelle Chumley could have afforded a pricey new SUV loaded with options. But when it came time to replace her Chevrolet Blazer SUV, for which she’d paid about $40,000 three years ago, Chumley chose something smaller. And less costly. With her purchase of a...
Former Abercrombie & Fitch chief Mike Jeffries arrested on federal sex trafficking charges
NEW YORK — Former Abercrombie & Fitch CEO Mike Jeffries, his romantic partner and a third man were arrested Tuesday on charges of luring dozens of men into sex parties held around the world, sometimes by dangling the promise of modeling for the clothing retailer. Jeffries, partner Matthew Smith and...
America’s most famous inflation gauge is easing — but some of your biggest expenses are left out
Price pressures have eased substantially over the past two years, but a disconnect remains between what U.S. inflation data show and what millions of Americans experience with their finances. That’s in part because price levels are still higher than they were before the pandemic. Another explanation: the government’s key inflation...
How Namdar Realty profits from Pittsburgh Mills and other ‘dying’ malls
The owner of Pittsburgh Mills mall has built a real estate empire by buying dying malls and letting them deteriorate before selling off property and walking away, leaving helpless communities in its wake, according to officials where Namdar Realty Group owns assets. New York-based Namdar boasts a portfolio of nearly...
SpaceX launches 99th operational mission of the year
SpaceX knocked out its 99th operational flight of the year with a Starlink mission from Cape Canaveral, Fla., on Friday night. A Falcon 9 with 20 Starlink satellites lifted off from Canaveral’s Space Launch Complex 40 at 7:31 p.m. This was the 17th flight of the first-stage booster that made...
2 longtime Westmoreland food businesses change hands
Hempfield high school sweethearts Halie Altman and Cole Rendulic have always wanted to open a business together. When the owner of Angelo’s Cucina and Catering in Hempfield stepped down, the couple of nearly a decade knew their opportunity had come. Like Altman and Rendulic, Irwin resident Shakib Ahmady also is...
Italian autoworkers go on strike, as troubled Stellantis faces pressure over production plans
ROME — Workers in Italy’s troubled automotive sector are holding a national strike on Friday for the first time in 20 years, with a massive demonstration crossing the center of Rome. Tens of thousands automotive workers marched through the capital’s streets, waving the unions’ red flags and holding banners asking...
U.S. to probe Tesla’s ‘Full Self-Driving’ system after pedestrian killed in low visibility conditions
DETROIT — The U.S. government’s road safety agency is again investigating Tesla’s “Full Self-Driving” system, this time after getting reports of crashes in low-visibility conditions, including one that killed a pedestrian. The National Highway Safety Administration says in documents that it opened the probe on Thursday with the company reporting...
PPG to lay off 1,800 employees as paints and coatings maker aims to cut costs; local effect unclear
NEW YORK — PPG Industries plans to lay off about 1,800 employees amid efforts to cut costs, with the paints and coatings maker also inking a deal to sell a sizeable chunk of its architectural business. Pittsburgh-based PPG said Thursday the job cuts would primarily impact positions in the U.S....
Defense contractor Raytheon agrees to pay $950 million to resolve bribery, fraud allegations
NEW YORK — RTX Corp., the defense contractor formerly known as Raytheon, agreed Wednesday to pay $950 million to resolve allegations that it defrauded the government and paid bribes to secure business with Qatar. The company entered into deferred prosecution agreements in separate cases in federal court in Brooklyn and...
