Business category, Page 21
John Dorfman: Don’t give up hope, value investors
The numbers are stark. In the 12 months through June, growth stocks returned 19.9%, while value stocks managed only 9.6%. Alas for value investors, the two previous years tell the same story. In 2023 the scorecard showed a return of 30% for growth and 22.2% for value. In 2024 the...
Pittsburgh ‘uniquely positioned’ to lead in physical AI, organizers of upcoming summit say
Pittsburgh will again find itself in the AI economy spotlight in September when it hosts the two-day AI Horizons summit in the East End’s Bakery Square. The summit, in its second year, will focus this year on physical AI — in which artificial intelligence is integrated into physical systems like...
U.S. job openings fell to 7.4 million last month as job market continues to cool
WASHINGTON — Employers posted 7.4 million job vacancies last month, a sign that the American job market continues to cool. The Labor Department reported Tuesday that job openings in June were down from 7.7 million in May. Layoffs were little changed. But the number of people quitting their jobs —...
P&G to increase prices in part due to tariffs as shoppers remain cautious and delay purchases
NEW YORK — Consumer products giant Procter & Gamble offered an annual earnings outlook that was below analysts’ projections and said it would raise prices on about a quarter of its products in the U.S. in part due to higher costs from President Donald Trump’s tariffs. The assessment delivered Tuesday...
Who wants to be a millionaire? 1 in 10 Americans already is but the status loses its luster
NEW YORK — As a child, Heidi Barley watched her family pay for groceries with food stamps. As a college student, she dropped out because she couldn’t afford tuition. In her twenties, already scraping by, she was forced to take a pay cut that shrunk her salary to just $34,000...
Union Pacific and Norfolk seek 1st transcontinental railroad through merger
OMAHA, Neb. — Union Pacific is seeking to buy Norfolk Southern in a $85 billion deal that would create the first transcontinental railroad in the U.S, and potentially trigger a final wave of rail mergers across the country. The proposed merger, announced Tuesday, would marry Union Pacific’s rail network in...
Tea app takes messaging system offline after 2nd security issue reported
Tea, a dating discussion app that recently suffered a high-profile cybersecurity breach, announced late Monday that some direct messages were also accessed in the incident. The app — designed to let women safely discuss men they date — rocketed to the top of the U.S. Apple App Store last week...
EPA set to unravel U.S. authority to regulate greenhouse gases
WASHINGTON — The Trump administration is set to announce its plans to abolish the U.S. government’s authority to regulate greenhouse gases, threatening to strike a deep blow at Washington’s ability to fight climate change. The Environmental Protection Agency will unveil a proposal as early as Tuesday to scrap a landmark...
Skin Solutions Dermatology and Cosmetics debuts walk-in clinic in O’Hara
Getting a prompt dermatologist appointment can be challenging, but a new dermatology practice in O’Hara is taking steps to make appointments a thing of the past — at least on Tuesdays. Skin Solutions Dermatology and Cosmetics offers a same-day, walk-in clinic from 7:30 a.m. to 2 p.m. every Tuesday. Implementing...
The Tea app was intended to help women date safely. Then it got hacked
Tea, a provocative dating app designed to let women anonymously ask or warn each other about men they’d encountered, rocketed to the top spot on the U.S. Apple App Store this week. On Friday, the company behind the app confirmed it had been hacked: Thousands of images, including selfies, were...
McCormick and HUD secretary tour U.S. Steel’s Braddock facility, hint at housing plans
Federal officials hinted Friday morning at plans to build more housing near U.S. Steel’s Edgar Thomson Works as the firm’s new owner, Nippon Steel, prepares to spend big on upgrades. “When you create jobs, there’s a housing need,” said Housing and Urban Development Secretary Scott Turner at a news conference...
Federal regulators approve Paramount’s $8 billion deal with Skydance, capping months of turmoil
NEW YORK — Federal regulators on Thursday approved Paramount’s $8 billion merger with Skydance, clearing the way to close a deal that combined Hollywood glitz with political intrigue. The stamp of approval from the Federal Communications Commission comes after months of turmoil revolving around President Donald Trump’s legal battle with...
Philly cheesesteak maker challenged by the ever-rising cost of beef
PHILADELPHIA — Ken Silver knows beef because he knows Philly cheesesteak. He hopes that a summer spike in how much he pays for his restaurant’s main product doesn’t cause heartburn for him or his customers. Silver, president of Jim’s South St. in Philadelphia, said he might have to raise prices...
New mobile app could help save honeybee hives, protect $20 billion in agriculture
Honeybee colonies in the United States are projected to decline by up to 70% this year, entomologists say. And that could spell economic disaster. According to the American Beekeeping Federation, honeybees contribute about $20 billion to the value of crop production in the country. But master beekeeper Joe Zgurzynski of...
Pa. electric bills to rise after grid manager ups payments to power plants
Electric bills in Pennsylvania could climb as much as 5% as rising rates paid to power plants trickle down the system. That’s according to PJM Interconnection, a regional body that ensures utilities have enough power to supply their customers during peak demand times, like a heat wave or cold snap....
Judge refuses to end lawsuit by U.S. Steel, Nippon against Cleveland-Cliffs
Despite the successful $14.9 billion merger of U.S. Steel and Nippon Steel, attorneys for both companies said Wednesday they plan to proceed with a lawsuit against steelmaker Cleveland-Cliffs and the head of the United Steelworkers union for allegedly conspiring against them to try to block the deal. Cleveland-Cliffs had been...
Turner Dairy Farms receives $750,000 to expand distribution center and automation
From dairy products to iced tea, Turner Dairy Farms in Penn Hills has been a Pittsburgh staple since the 1930s. The company and its reach has expanded. Today, it partners with 35 family-owned dairy farms within a 70-mile radius. With that wide range, the company was in need of an...
U.S. home sales fall in June as prices soar to new heights
LOS ANGELES — Sales of previously occupied U.S. homes slid in June to the slowest pace since last September as mortgage rates remained elevated and national median sales prices hit unprecedented levels. Existing home sales fell 2.7% last month from May to a seasonally adjusted annual rate of 3.93 million...
Trump announces trade deal with Japan that lowers threatened tariff to 15%
WASHINGTON — President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States...
Hershey raising candy prices by double digits on high cocoa costs
Hershey Co. is raising prices on its candy because of historically high cocoa costs. The Pennsylvania-based maker of Hershey’s chocolates and Reese’s Peanut Butter Cups told its retailers last week that it would be implementing a roughly double-digit price increase, company officials said Tuesday. That increase reflects a higher list...
Americans are paying for Trump’s tariffs, not foreign companies
Who’s paying for Donald Trump’s tariffs? So far, American businesses and consumers. General Motors Co. was the latest U.S. company to disclose how the levies are raising costs, with the automaker saying Tuesday that the duties dented profits by more than $1 billion as it chose to absorb the blow....
Investors breathe life into new batch of meme stocks as Kohl’s, Opendoor Technologies surge
As the stock market pushes into record territory and bargains become harder to find, investors are once again turning to some of Wall Street’s beaten down companies in hopes of a quick score. The latest so-called meme stocks are the department store Kohl’s, which has surged this week, and the...
UN says booming solar, wind and other green energy hits global tipping point for even lower costs
NEW YORK — The global switch to renewable energy has passed a “positive tipping point” where solar and wind power will become even cheaper and more widespread, according to two United Nations reports released Tuesday, describing a bright spot amid otherwise gloomy progress to curb climate change. Last year, 74%...
Coca-Cola confirms cane-sugar version of its trademark cola is coming to U.S.
Coca-Cola said Tuesday it will add a cane-sugar version of its trademark cola to its U.S. lineup this fall, confirming a recent announcement by President Donald Trump. Trump said in a social media post last week that Coca-Cola had agreed to use real cane sugar in its flagship product in...
The Monteverde Group, Jacobson Associates’ merger provides specialized financial services
A recent merger between two of Pittsburgh’s most established financial services firms — The Monteverde Group and Jacobson Associates — offers comprehensive financial services and employee benefits advising, as well as management for families and businesses. The two firms combine more than 50 years of collaborative professionalism between longtime friends...
