Business category, Page 37
Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now
NEW YORK — Stocks rose worldwide Monday after President Donald Trump relaxed some of his tariffs, for now at least, and as stress from within the U.S. bond market seems to be easing. The S&P 500 climbed 0.8%, though trading was still shaky, and it briefly gave back all of...
Pfizer ends development of potential pill obesity treatment
Pfizer is ending the development of its potential once-daily pill treatment for obesity after venturing into the biggest and most expensive level of clinical testing. The drugmaker said Tuesday that it would stop studying danuglipron after a participant in one of its trials experienced a possible drug-induced liver injury that...
Bond market upheaval could impact borrowing costs for Western Pa. schools, municipalities
It’s all about timing. School districts and municipal authorities that already floated bonds for major construction projects are counting their blessings for not being caught up in the bond market’s current chaos. But those with pending projects not yet supported by money from bonds are watching the market closely, eyeing...
Delay in ‘silica rule’ leaves some miners’ advocates worried
After the announcement by the federal Mine Safety and Health Administration of a four-month delay in enforcement of the “silica rule,” some in the region are worried about what that delay signals for miners’ safety. The rule, issued last April, gave mine operators a year to upgrade respiratory protection programs...
Covid pandemic exposed vulnerabilities but brought lessons in preparedness
Ordinary shopping trips became a scavenger hunt five years ago. Shoppers who felt fortunate enough to find toilet paper quickly filled their carts. Demand soared for items such as masks, lumber, liquor and computer chips. As covid-19 swept across the United States, empty store shelves spurred anxiety, heightened tensions and...
Apple has few incentives to start making iPhones in U.S., despite Trump’s trade war with China
SAN FRANCISCO — President Donald Trump’s administration has been predicting its barrage of tariffs targeting China will push Apple into manufacturing the iPhone in the United States for the first time. But that’s an unlikely scenario even with U.S tariffs now standing at 145% on products made in China —...
Trump administration says it will exclude some electronics from reciprocal tariffs
NASHVILLE, Tenn. — The Trump administration late Friday said they would exclude electronics like smartphones and laptops from reciprocal tariffs, a move that could help keep the prices down for popular consumer electronics that aren’t usually made in the U.S. It would also benefit big tech companies like Apple and...
Southwestern Pennsylvania’s glassmaking tradition dates from late 18th century
The closure of the Pyrex cookware plant in Charleroi brings to an end 132 years of manufacturing at that facility, but the regional footprint of the glassmaking industry is far more widespread and earlier in origin. In 1797, James O’Hara and Isaac Craig opened their Pittsburgh Glassworks at the foot...
Trump reaches deals with 5 law firms, allowing them to avoid prospect of punishing executive orders
WASHINGTON — President Donald Trump announced deals Friday with five law firms that will allow them to avoid the prospect of a punishing executive order and require them to together provide hundreds of millions of dollars’ worth of free legal services for causes his administration supports. The resolutions reflect the...
Oakmont-based Chelsea Building Products breaks ground on new plant in Sewickley Township
Construction is underway for a new manufacturing facility that officials said could bring as many as 150 new jobs to Westmoreland County. Officials this week held a groundbreaking for a 228,000 square-foot building at Commerce Crossing, the county’s newest industrial park, in Sewickley Township. Chelsea Building Products paid $1.8 million...
U.S. stocks climb but U.S. dollar sinks as Wall Street closes chaotic, historic week
NEW YORK — U.S. stocks are climbing Friday in another manic day on Wall Street, while the falling value of the U.S. dollar and other swings in financial markets suggest fear is still high about escalations in President Donald Trump’s trade war with China. The S&P 500 was 1.5% higher...
132-year-old Charleroi glass plant ends production, set to close
Elaine Smith had to hear the Corning whistle one last time. Smith, 70, of Monessen retired in 2020 after a 45-year career at the Pyrex glass plant, which has been a staple in Charleroi for more than a century. She said she was ready for tears to flow Friday for...
China hits back at U.S. and will raise tariffs on American goods from 84% to 125%
BEIJING — China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets and raised fears of a global slowdown. While U.S. President Donald Trump paused import...
Inflation fell last month as gas prices dropped sharply, a sign prices cooled before tariffsVideo
WASHINGTON — U.S. inflation declined last month as the cost of gas, airline fares, and hotel rooms fell, a sign that price growth was cooling even as President Donald Trump ramped up his tariff threats. Consumer prices rose just 2.4% in March from a year earlier, the Labor Department said...
Contract doesn’t need ‘the moon and the stars,’ just better pay, ATI workers say
A few dozen ATI workers rallied outside the company’s Vandergrift plant Thursday as the deadline nears to reach a union contract, arguing the specialty metal manufacturer’s recent success should trickle down to the rank-and-file. “We’re not asking for the moon and the stars,” said Keith Beavers, a maintenance technician and...
Stocks dive as euphoria on Wall Street reverts to fear about U.S.-China trade war
NEW YORK — Stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy. The S&P 500 tumbled 3.5%, slicing into Wednesday’s surge of 9.5% following Trump’s decision to pause many of his tariffs worldwide....
Egg prices increase to record high despite Trump’s predictions and bird flu outbreak slowing
U.S. egg prices increased again last month to reach a new record-high of $6.23 per dozen despite President Donald Trump’s predictions, a drop in wholesale prices and no egg farms having bird flu outbreaks. The increase reported Thursday in the Consumer Price Index means consumers and businesses that rely on...
EU pauses tariff retaliation for 90 days to match Trump move, holding out hope for talks
BRUSSELS — The European Union’s executive commission said Thursday it will put trade retaliation measures on hold for 90 days to match President Donald Trump’s pause on his sweeping new tariffs and leave room for a negotiated solution. European Commission President Ursula von der Leyen said that the commission, which...
Uncertainty still abounds for Western Pa. businesses, consumers despite tariffs pause
Many consumers and business owners across Western Pennsylvania responded Wednesday with a sense of relief to President Trump’s decision to pause most of his hefty reciprocal tariffs on imported goods — and the stock market responded with historic gains. But the 90-day pause doesn’t apply to China, one of the...
Reports: Trump voices opposition to Nippon purchase of U.S. Steel
Shares of United States Steel Corp. fell Wednesday when President Donald Trump renewed his opposition to the sale of the American steel producer to Japan’s Nippon Steel Corp., according to published reports. Trump called U.S. Steel a “very special company,” reported Kyodo News. He reportedly told reporters that, despite his...
Trump’s ‘buy’ tip on social media before his tariffs pause made money for investors who listened
NEW YORK — When Donald Trump offered some financial advice Wednesday morning, stocks were wavering between gains and losses. But that was about to change. “THIS IS A GREAT TIME TO BUY!!! DJT,” he wrote on his social media platform Truth Social at 9:37 a.m. Less than four hours later,...
New Pittsburgh Airport terminal cost now pegged at $1.7B as project nears completion
The $1.7 billion Pittsburgh International Airport modernization project is hundreds of millions more than initially planned. Inflation isn’t solely to blame for the rising cost of the project, Allegheny County Airport Authority CEO Christina Cassotis said in a statement. Instead, the authority is performing other maintenance and improvement work at...
Wall Street surges to one of its best days since WWII after Trump pauses many of his tariffsVideo
NEW YORK — Stocks soared to one of their best days in history on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would. The S&P 500 surged 9.5%, an amount that...
Pakistan says U.S. companies seek to invest in the country’s untapped minerals sector
ISLAMABAD — U.S. companies are seeking to invest in Pakistan’s largely untapped minerals sector that boasts one of the world’s largest copper and gold deposits, the Pakistani government said Wednesday. Eric Meyer, Senior Bureau Official for the State Department’s Bureau of South and Central Asian Affairs, conveyed that interest directly...
China raises its retaliatory tariff on the U.S. to 84% as it vows to ‘fight to the end’
BANGKOK — China again vowed to “fight to the end” Wednesday in an escalating trade war with the U.S. as it announced it would raise tariffs on American goods to 84% from Thursday. Beijing also added an array of countermeasures after U.S. President Donald Trump raised the total tariff on...
