Business category, Page 22
Trump’s Labor Department proposes more than 60 rule changes in a push to deregulate workplaces
NEW YORK — The U.S. Department of Labor is aiming to rewrite or repeal more than 60 “obsolete” workplace regulations, ranging from minimum wage requirements for home health care workers and people with disabilities to standards governing exposure to harmful substances. If approved, the wide-ranging changes unveiled this month also...
Wall Street rises toward records as Verizon begins big week for profit reports with a beat
NEW YORK — U.S. stocks are rising toward more records on Monday ahead of a week full of profit updates from big U.S. companies, which Wall Street expects to keep growing despite pressure from President Donald Trump’s tariffs. The S&P 500 was 0.5% higher in morning trading and above its...
Less selection, higher prices: How tariffs are shaping the holiday shopping season
NEW YORK — With summer in full swing in the United States, retail executives are sweating a different season. It’s less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. But President Donald Trump’s vacillating trade...
Is the labor, funding there to see through $90B in energy, tech projects in Pa.?
Announcements are easy. Following through could be the hard part for companies that pledged more than $90 billion in investments across the state Tuesday during the Pennsylvania Energy and Innovation Summit at Carnegie Mellon University, organized by U.S. Sen. Dave McCormick, R-Pittsburgh. At least a quarter of that money is...
An inside look at Plum’s controversial fracking wastewater injection well
The wastewater injection site in Plum run by Penneco Environmental Solutions has been the subject of nearly a decade of legal battles and community backlash as the company has sought to expand its operations along Old Leechburg Road. Since 2017, the borough and Penneco have been at odds, as the...
New report lauds Pittsburgh region for AI talent, innovation
A new report appears to support what many political and business leaders asserted at Tuesday’s Pennsylvania Energy and Innovation Summit: The state is well-positioned to be a key player in the growing artificial intelligence economy. The Brookings Institution report, released Wednesday, rated Pittsburgh as one of 14 “emerging centers” in...
Distillery Complex — with rooftop bar, cigar lounge — set to open on Pittsburgh’s South Shore
Back in 1794, Western Pennsylvania farmers picked up their pitchforks and muskets over a tax on whiskey. These days, Pittsburghers are more likely to wig out after a bad call at a Pirates game, but history seems to be repeating itself one barrel at a time. The location of the...
Beef prices have soared in the U.S. — and not just during grilling season
OMAHA, Neb. — Anyone firing up the grill this summer already knows hamburger patties and steaks are expensive, but the latest numbers show prices have climbed increasingly fast. And experts say consumers shouldn’t expect much relief soon either. The average price of a pound of ground beef rose to $6.12...
Supermarket squabble: Richland Shop ‘N Save sues neighboring Walmart over grocery sales
When Walmart was planning its Richland location in 1998, the company agreed it would not operate a full-service grocery store there — at least in part to try to protect the Shop ‘N Save store adjacent to it in Richland Mall. But in 2008, Walmart sent a letter offering to...
Striking workers from Springdale’s Greco Steel Products push for improved safety, benefits
Worries about safety and his poor life insurance policy pushed Jerry Harris to go on strike from Springdale-based Greco Steel Products. Harris, 35, of Jeannette recalled watching a co-worker fall through a roof and die on the job in June 2023. Several of Harris’ striking colleagues pointed to that moment...
U.S. applications for jobless benefits fall for 5th straight week, hitting lowest level since April
WASHINGTON — The number of Americans filing for unemployment benefits fell last week to the lowest level in three months, a sign that the U.S. labor market remains sturdy despite fears over the impact of widespread U.S. tariffs. The Labor Department reported Thursday that jobless claims for the week ending...
Retail sales up a surprising 0.6% in June after a May pullback by consumers
WASHINGTON — After an earlier pullback, consumers picked up their spending in June despite anxiety over tariffs and the state of the U.S. economy. Retail sales rose a better-than-expected 0.6% in June after declining 0.9% in May, the Commerce Department said Thursday. Sales in April fell 0.1%, pulled down by...
Affordable housing builder expands in Allegheny County with $2.4M investment, creating 58 jobs
A modular home builder constructing a trio of affordable townhomes in Etna will be expanding its operations in Allegheny County. Gov. Josh Shapiro recently announced that his administration secured a $2.4 million investment from Module Design, which will create 58 jobs while retaining eight existing positions. Module received a $762,000...
Trump says Coca-Cola will use real sugar in its U.S. flagship drink. The company isn’t confirming that
WASHINGTON — Make American Coke Great Again? President Donald Trump said Wednesday that Coca-Cola has agreed to use real cane sugar in its flagship soft drink in the U.S. at his suggestion — though the company didn’t confirm such a move. Any switch from high-fructose corn syrup in Coke sold...
Meta CEO Mark Zuckerberg expected to testify in $8 billion Facebook privacy lawsuit
An $8 billion class action investors’ lawsuit against Meta CEO Mark Zuckerberg and company leaders — current and former — begins Wednesday, with claims stemming from the 2018 privacy scandal involving the Cambridge Analytica political consulting firm. Investors allege in their lawsuit that Meta did not fully disclose the risks...
U.S. stocks swing as Trump says he ‘talked about the concept’ of firing the Federal Reserve’s chair
NEW YORK — U.S. stocks are shaky on Wednesday after President Donald Trump said he had “talked about the concept of firing” the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates that it loves but would also risk a weakened Fed...
Photos: Pennsylvania Energy and Innovation Summit
Some of the nation’s top energy companies joined President Donald Trump and leading state officials Tuesday at the Pennsylvania Energy and Innovation Summit, held at Carnegie Mellon University. U.S. Sen. Dave McCormick said the summit could pave the way for tens of thousands of new jobs in the Commonwealth across...
U.S. producer prices unchanged with wholesale inflation remaining under control
WASHINGTON — U.S. wholesale inflation cooled last month, despite worries that President Donald Trump’s tariffs would push prices higher for goods before they reach consumers. The Labor Department reported Wednesday that its producer price index — which tracks inflation before it hits consumers — was unchanged last month from May...
Trump joins McCormick at CMU to tout $90B energy and AI investment wave
As the Pennsylvania Energy and Innovation Summit drew to a close Tuesday at Carnegie Mellon University, event organizer U.S. Sen. Dave McCormick said the day could wind up being remembered as the start of an “economic renaissance” in Pennsylvania. That prediction came on the heels of nearly two dozen companies...
John Dorfman: Perfect 10 Portfolio has averaged 18% return
Darn! Missed by a whisker. My Perfect 10 Portfolio returned 14.6% in the past year, a hair behind the Standard & Poor’s 500 Total Return Index at 14.7%. That doesn’t damper my enthusiasm for this portfolio. In 22 years, it has averaged more than an 18% return, while the index...
Here are the blockbuster deals unveiled at the Pa. Energy and Innovation Summit
U.S. Sen. Dave McCormick said Tuesday during the Pennsylvania Energy and Innovation Summit in Pittsburgh that companies are planning to invest more than $90 billion in data centers, energy and power infrastructure, and workforce and AI training projects across Pennsylvania. Fifteen of the companies plan to invest at least $1...
Pittsburgh’s Astrobotic snags NASA contract for solar array as it shoots again for moon landing
A leaky valve in January 2024 may have scuttled a Pittsburgh-based space company’s mission to become the first private enterprise to complete a lunar landing. But Astrobotic’s leaders made the most of its Peregrine mission despite the equipment failure. “So, we had a day that wasn’t quite what we wanted....
John Dorfman: CVS, Archer-Daniels look good on this ratio
There are many ways companies can manipulate their reported profits. Fudging sales (also known as revenue) is more difficult. That’s one reason why I always check the price-to-sales ratio when I’m considering a stock. It’s simply the stock’s price divided by sales per share. For example, CVS Health Corp. (CVS)...
Trump touts $90B in energy, AI deals announced during Pittsburgh summit
Tech and energy investors announced a flurry of multibillion-dollar development deals across the state Tuesday during the Pennsylvania Energy and Innovation Summit at Carnegie Mellon University. U.S. Sen. Dave McCormick, serving as host of the inaugural summit, said the deals — totaling more than $90 billion combined — will create...
Hong Kong plans to regulate Uber and other online ride-hailing services
HONG KONG — The Hong Kong government on Tuesday unveiled proposals to regulate online ride-hailing services provided by tech companies like Uber, requiring platforms, cars and drivers to be licensed before hitting the road. In a document sent to the legislature, transport officials said those companies applying for a license...
