Business category, Page 34
Trump says it’s Biden’s economy, but businesses, economists beg to differ
WASHINGTON — When the stock market was climbing in January 2024, Donald Trump knew exactly who deserved credit: Himself. Nearly a year before his return to the White House, he declared on his Truth Social platform that investors were celebrating his lead in the polls against President Joe Biden. When...
Apple posts stronger-than-expected Q2 results, says majority of U.S. iPhones sold will come from India
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s...
Kohl’s ousts CEO Ashley Buchanan after investigation into conflicts of interest
Kohl’s said it has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl’s named Chairman Michael Bender as interim CEO, effective immediately. In connection with the appointment, Bender will step down as...
Over 2 million Ninja-branded pressure cookers recalled amid reports of serious burn injuries
NEW YORK — SharkNinja is recalling more than 2 million pressure cookers sold in the U.S. and Canada — after consumers reported over 100 burn injuries spanning from a hazard that can cause hot food to spew out. According to a recall notice published by the U.S. Consumer Product Safety...
Home improvement: Bellevue business owner helps clients spruce up residences, businesses
Diana Edwards is a style consultant — for homes and businesses. Owner of LIME Painting North Pittsburgh, a luxury home painting and home improvement business, Edwards connects clients with the resources to spruce up their residence or business from adding a fresh coat of paint to an exterior or interior...
Tax diversion for Esplanade project approved by Pittsburgh Public Schools board
The Pittsburgh Public Schools board on Wednesday approved a tax diversion for the sprawling Esplanade development, which plans to bring a Ferris wheel, housing and other amenities to the city’s Chateau neighborhood. The developer, Cecil-based Piatt Companies, has now secured approval from the city and school district for the tax...
Court sides with Fortnite maker Epic as Apple sanctioned for defying order in App Store case
A federal judge has strongly rebuked Apple, finding that the iPhone maker willfully violated a court injunction in an antitrust case filed by “Fortnite” maker Epic Games. U.S. District Judge Yvonne Gonzalez Rogers had ordered Apple to lower the barriers protecting its previously exclusive payment system for in-app digital transactions...
Rustic Ridge Mine gets OK for new work under Pa. Turnpike, expects to extend operation 6-8 years
Rustic Ridge No. 1 Mine near Donegal has state approval to expand its operations under the Pennsylvania Turnpike and tap into 1,450 acres of a coal seam in an area along Route 711. The work is expected to extend the mine’s life by six to eight years, said Mark Tercek,...
Wall Street storms back from early losses, echoing its manic moves through a historic AprilVideo
NEW YORK — Much like its wild month of April, a scary Wednesday for Wall Street found a gentler ending as stocks stormed back from steep early losses to continue their manic swings amid uncertainty about what President Donald Trump’s trade war will do to the economy. The S&P 500...
Economy shrinks 0.3% in 1st quarter as Trump trade wars disrupt businessesVideo
The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business. First-quarter growth was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before Trump...
U.S. inflation cools and Americans step up spending as they brace for tariff impact
WASHINGTON — A closely watched inflation gauge cooled last month in a sign that prices were steadily easing before most of President Donald Trump’s tariffs were implemented. At the same time, consumers accelerated their spending, particularly on cars, likely in an effort to get ahead of the duties. Wednesday’s report...
Trump’s tariffs loom over the economy as shipments from China fall
WASHINGTON — American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president’s massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers,...
White House and Amazon go back and forth over tariff pricing on website
White House officials have blasted a reported proposal by Amazon — which the company has denied — to begin including information on its website about the amount of tariffs being applied to goods it sells. White House Press Secretary Karoline Leavitt, who stepped in to respond to a question directed...
UPS to cut 20,000 jobs, close some facilities as it reduces amount of Amazon shipments it handles
UPS is looking to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the amount of Amazon shipments it handles. The package delivery company said Tuesday that it anticipates making the job cuts this year. It anticipates closing 73 leased and owned buildings by the...
Trump to offer automakers some relief on 25% tariffs, after worries they could hurt U.S. factories
WASHINGTON — President Donald Trump will sign executive orders Tuesday to relax some of his 25% tariffs on autos and auto parts, the White House said, a significant reversal as the import taxes threatened to hurt domestic manufacturers. Automakers and independent analyses have indicated that the tariffs could raise prices,...
Consumer confidence plummets to covid-era low as trade war stokes anxiety
WASHINGTON — Americans’ confidence in the economy slumped for the fifth straight month to the lowest level since the onset of the covid-19 pandemic as anxiety over the impact of tariffs takes a heavy toll. The Conference Board said Tuesday that its consumer confidence index fell 7.9 points in April...
How to save for short-term goals while keeping long-term ones in mind
You shouldn’t have to cross your fingers and hope for a strong stock market to coincide with your short-term goals. And right now, you probably wouldn’t want to. Because you’re working within a short time frame — think two to six years — investing for shorter-term goals like buying a...
’Nowhere to turn’: Small businesses dependent on imports from China are feeling more desperate
NEW YORK — Major orders canceled. Containers of products left stranded overseas. No roadmap for what comes next. The Trump administration raised tariffs on goods from China to 145% in early April. Since then, small business owners who depend on imports from China to survive have become increasingly desperate as...
Wall Street: Stocks end day mixed with potential for big swings on horizon
NEW YORK — U.S. stocks drifted to a mixed finish on Monday, ahead of potential flashpoints this week that could bring more sharp swings for financial markets. The S&P 500 inched up by 0.1% to extend its winning streak to a fifth day. The Dow Jones Industrial Average added 114...
Trump China tariffs set to unleash supply shock on U.S. economy
President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home. Since the U.S. raised levies on China to 145% in early April, cargo shipments have plummeted, perhaps by as much as...
Upper Burrell data center to use natural gas for more than 2 gigawatts of power generation
A data center planned at the former Alcoa Research Center in Upper Burrell plans to produce much of its own electricity via natural gas wells on the property, a company spokeswoman confirmed Monday. “Our goal is to not heavily pull from the grid, it’s to provide our own,” said Melissa...
With China and the U.S. at intense economic odds, other nations are being forced to choose sides
WASHINGTON — One went to the United States. The other went to China. It was a sign of the times. While the Swiss president was in Washington last week to lobby U.S. officials over President Donald Trump’s threatened 31% tariff on Swiss goods, the Swiss foreign minister was in Beijing,...
Thinking of buying a secondhand phone? Some tips on what to look for
LONDON — New smartphones aren’t cheap and prices could reach even higher as globe trade tensions fueled by U.S. President Donald Trump’s tariff threats throw Asian exports into turmoil. To save money, consider buying a secondhand device. The market for used cell phones is booming. It’s now growing faster than...
John Dorfman: Old Faithful fizzled last year, but watch for a spurt
One of my favorite tools for picking stocks is a paradigm I call Old Faithful, named after the geyser in Yellowstone Park. This paradigm fizzled last year but has an outstanding long-term record. To appear on the Old Faithful list, a stock must: • Post good profits (15% return on...
Trump’s push to save the fading coal industry gets warm embrace in West Virginia
FAYETTEVILLE, W.Va. — The winner of this year’s West Virginia Coal Festival teen beauty pageant walks among the ruins of a community abandoned 70 years ago and imagines the rusted remains of coal tipples and processing plants coming back to life. Ava Johnson knows West Virginia coal will not ever...
