Business category, Page 99
Ford recalls over 238,000 Explorers to replace axle bolts that can fail after U.S. opens investigation
DETROIT — Ford is recalling more than 238,000 Explorers in the U.S. because a rear axle bolt can fail, potentially causing a loss of drive power or allowing the SUVs to roll away while in park. The recall comes after U.S. safety regulators opened an investigation into the problem after...
Auto dealer #1 Cochran expands in Ohio
Auto retailer #1 Cochran is expanding with another purchase in eastern Ohio. The Pittsburgh car dealership chain is acquiring the Flynn Automotive Group for an undisclosed amount. It’s the fifth deal this year for #1 Cochran. The transaction includes The Honda Store and Donnell Ford, both in Boardman, Ohio; Power...
Western Pa. to get Hydrogen Hub designation as part of $7B nationwide investment
The White House is set to announce potentially hundreds of millions of dollars in investment for the Western Pennsylvania region with boosting for an energy project meant to produce hydrogen from natural gas. President Joe Biden is scheduled to visit the Philadelphia area on Friday to announce $7 billion for...
U.S. inflation eased slightly last month as price increases extend slow descent
WASHINGTON — Measures of U.S. inflation in September showed that the pace of price increases is still grinding lower, though at a slow and uneven pace. Prices in the United States increased 0.4% from August to September, a slowdown from the previous month. Thursday’s report from the Labor Department also...
U.S. jobless claims remain at historically low 209,000, a sign of continuing labor market strength
WASHINGTON — The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates. Unemployment claims stayed at 209,000 for the week ending Oct. 7, the Labor Department...
Social Security cost-of-living adjustment is coming — but it won’t be as big as this year’s
WASHINGTON — Looking ahead to retirement next spring, Karla Abbott finds comfort in the cost-of-living increase that millions of Social Security recipients get each year. But with consumer prices easing, the new boost will be far lower than this year’s 8.7% Analysts estimate the adjustment for 2024 will be around...
Auto workers escalate strike as 8,700 workers walk out at Ford Kentucky Truck Plant in Louisville
DETROIT — The United Auto Workers union significantly escalated its walkout against Detroit’s Three automakers, shutting down Ford’s largest factory and threatening Jeep maker Stellantis. In a surprise move Wednesday night, 8,700 members left their jobs at Ford’s Kentucky truck plant in Louisville. And Thursday morning, union President Shawn Fain...
Disney World raises prices for annual passes, parking
Walt Disney World has increased prices on its theme park annual passes between $30 and $50, depending on the level. Disney also raised the parking fee at the parks from $25 to $30, matching the charge at Universal Orlando ‘s parking garage and at SeaWorld Orlando theme park. The top-line...
PNC moves forward with layoffs and other expense reductions
As PNC Financial Services moves forward with layoffs throughout the financial firm, the company is eying more reductions in costs. On Tuesday, PNC said it would cut an undisclosed number of workers. In a statement, the Downtown Pittsburgh banking firm said it is reviewing its organizational structure, which “includes a...
Biden says the FTC’s proposed ban on junk fees will help families and ‘honest’ businesses
WASHINGTON — President Joe Biden on Wednesday announced a proposed rule by the Federal Trade Commission to ban any hidden and bogus junk fees, which can mask the total cost of concert tickets, hotel rooms and utility bills. Biden has made the removal of these fees a priority of his...
Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandals
NEW YORK — Birkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day. The 249-year-old German maker of upmarket sandals set a price of $46 per share for its initial public offering of stock, valuing the company at $8.64...
Exxon Mobil buys Pioneer Natural in $59.5 billion deal with energy prices surging
Exxon Mobil Corp. is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. Including debt, Exxon is committing about $64.5 billion to the acquisition, leaving no doubt of the Texas...
PNC laying off employees, exact amount not announced
PNC Bank is laying off an undisclosed number of employees, according to a statement from the company. It remains unclear how many workers will be let go. The banking giant based in Downtown Pittsburgh said in a statement that it is reviewing its organizational structure and “have identified an opportunity...
X promises ‘highest level’ response on posts about Israel-Hamas war, yet misinformation still flourishes
The social media platform X, formerly known as Twitter, says it is trying to take action on a flood of posts sharing graphic media, violent speech and hateful conduct about the war between Israel and Hamas. X says it’s treating the crisis with its highest level of response. But outside...
Just shy 4 years ago, another graduate worker union drive has begun at the University of Pittsburgh
Last time, they came close — as in 39 votes shy in an election to secure union representation. Now, four years later, more than 2,000 graduate student workers at the University of Pittsburgh, including teaching and research assistants, are vying anew to join the United Steelworkers. A card-signing campaign initiated...
Workers at Mack Trucks go on strike after rejecting tentative contract deal
DETROIT — Union workers at Mack Trucks went on strike Monday after voting down a tentative five-year contract agreement that negotiators had reached with the company. The United Auto Workers said 4,000 unionized workers walked out at 7 a.m., adding to labor turmoil in the industry that has ensnared all...
New Kensington’s Digital Foundry gets $200K infusion to boost manufacturing industry skills
A representative of Gov. Josh Shapiro’s administration kicked off the state’s Manufacturing Week on Friday with a visit to downtown New Kensington. Gwen Ross, director of workforce development initiatives with the state Department of Community and Economic Development, was at the Digital Foundry at New Kensington for what she said...
AHN, Johns Hopkins end cancer center partnership
After nearly a decade, Allegheny Health Network and Johns Hopkins are ending their cancer center collaboration. The affiliation between the Pittsburgh-based health care system and the Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins was established in 2014 and ended earlier this year. AHN will continue to partner with Johns...
Surge of hiring in September defies predictions, points to U.S. job market’s enduring resilience
WASHINGTON — An unforeseen burst of hiring last month has lifted hopes that the economy will prove durable once again, even as an array of threats lie ahead. Businesses across the U.S. economy ramped up their hiring in September, defying surging interest rates, financial market turmoil, the ongoing threat of...
Columbia Gas tests hydrogen blends in natural gas appliances
Near Beaver Valley Mall in Center, a micro-village is undergoing an experiment. They call it Safety Town. Small cabin-like structures surround a tiny house that’s been outfitted with the usual natural gas appliances you’d find in any home — a stove, water heater, washer and dryer and fireplace. There, Columbia...
X removes article headlines in latest platform update, widening a rift with news media
SAN FRANCISCO — X, formerly known as Twitter, has stopped showing headlines on articles shared on the platform. Now, X only displays an article’s lead image and a link to the story. Plans for the change were first reported by Fortune in August, when owner Elon Musk confirmed in a...
RIDC sells historic roundhouse in McKeesport
A remnant of U.S. Steel’s operations in McKeesport has a new owner. RIDC has sold the historic McKeesport Connecting Railroad roundhouse to W&E Investment LLC for $273,000. The four-acre parcel is located at RIDC’s Industrial Center of McKeesport. The McKeesport Connecting Railroad was a division of U.S. Steel that connected...
‘He saved my life’: Hillandale Farms founder donates $25M to Pitt after back surgeries
The pain in Orland Bethel’s lower back and hips became excruciating. In 2014, he was diagnosed with spinal stenosis — a narrowing and squeezing of the nerves and spinal cord. The 87-year-old Greensburg resident consulted with six orthopaedic surgeons. They told him they would need to “cut a chunk of...
Federal judge dismisses false advertising claims against Wendy’s, McDonald’s
A federal judge in New York has dismissed a lawsuit that accused McDonald’s and Wendy’s of misleading consumers with ads that show bigger, juicier burgers than their restaurants actually serve. In an opinion released over the weekend, U.S. District Judge Hector Gonzalez said the images on the companies’ websites —...
Essential Utilities sells 3 microgrids in Allegheny County for $165M
Water and natural gas utility, Essential Utilities, Inc. is selling three non-utility microgrid and district energy properties — at Pittsburgh International Airport, a local hospital and Allegheny County government buildings — for $165 million. The buyer is Cordia, a Phoenix-based energy company that is looking to expand its footprint in...
