Business category, Page 41
‘Stagflation’ risk puts Federal Reserve in tricky spot as it meets this week
WASHINGTON — When Federal Reserve officials last met in late January, things looked pretty good: Hiring was solid. The economy had just grown at a solid pace in last year’s final quarter. And inflation, while stubborn, had fallen sharply from its peak more than two years ago. What a difference...
U.S. shoppers modestly increased spending in February as concerns rise about economic outlook
WASHINGTON — U.S. shoppers stepped up their spending a just bit in February after a sharp pullback the previous month, signaling that Americans are spending more cautiously as concerns about the direction of the economy mount. Retail sales rose just 0.2% in February, a small rebound after a sharp drop...
Forever No More. Operator of mall staple Forever 21 files for bankruptcy protection
Forever 21 has filed for bankruptcy protection for a second time and plans to close down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies. F21 OpCo, which runs Forever 21 stores, said late Sunday that it will...
Tariffs on lumber and appliances set stage for higher costs on new homes and remodeling projects
Shopping for a new home? Ready to renovate your kitchen or install a new deck? You’ll be paying more to do so. The Trump administration’s tariffs on imported goods from Canada, Mexico and China — some already in place, others set to take effect in a few weeks — are...
Country’s largest screen manufacturer acquires Murrysville’s FlexScreen
A genuine, made-for-TV success story that began in a Plum garage continues to play out in Western Pennsylvania. Murrysville company FlexScreen — manufacturer of the world’s first flexible, easy-to-remove-and-install window screen — is being purchased by Pennsylvania-based RiteScreen, the country’s largest maker of door and window screens. The sale price...
Vance hopeful ‘high-level’ TikTok deal will be completed by early April
Vice President JD Vance said Friday he is hopeful a deal to keep TikTok operating in the U.S. will be wrapped up by the early April deadline. “There will almost certainly be a high-level agreement that I think satisfies our national security concerns, allows there to be a distinct American...
John Dorfman: CEOs at 197 companies made big stock sales lately
Company insiders are ditching their own stock more than usual. An exception is oil and gas executives, some of whom are buying while their shares are depressed. To gauge insider sentiment, look at the ratio of buys to sells by top executives and large shareholders. According to Gurufocus.com, about 34%...
Gold rises to new heights as anxiety grips markets. Here’s what you need to know
NEW YORK — Amid widespread economic turmoil, the price of gold has soared to levels never seen before. Gold futures surpassed the $3,000 per troy ounce for the first time this week. The price to buy gold on the spot market in New York is following closely behind. Interest in...
Sewickley company helps save family legacies 1 snapshot at a time
Shelley Murray saves memories. She collects messy boxes of images, documents and newspaper clippings and sorts, organizes, cleans and scans or digitizes them to curate a legacy history for future generations. “We transform your memories by bringing your story to life, while also preserving that story,” Murray said while in...
Sustainable fashion in demand at upscale consignment boutique in Aspinwall
A designer consignment boutique is doing its part to support and encourage sustainable shopping in Aspinwall. Nouveau Designer Consignment opened three years ago along Brilliant Avenue, offering discounted designer deals on clothing, shoes, jewelry and accessories for women and children. Owner Jessica Rehling Vukmir of O’Hara believes in the power...
What to know about tariffs: Experts warn of harm, but some want ‘pound of flesh’
The trade war launched by President Donald Trump against Canada, China and Mexico and what could end up involving countries around the world is unprecedented, national economic and legal experts say. “Businesses no longer have any idea how to plan,” said Timothy Meyer, an international business law professor at Duke...
Wall Street tumbles 10% below its record for first ‘correction’ since 2023 on Trump’s trade war
NEW YORK — Wall Street’s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month. A 10% drop is a big enough deal that professional investors have a name for it...
Highmark Health reports $209M in 2024 losses
Despite reporting $209 million in operating losses for 2024, Highmark Health executives said they are optimistic about the future of the Pittsburgh-based health care insurer and provider. Officials on Thursday released the 2024 earnings report. Highmark’s $11.7 billion in cash and investments and net assets of $9.8 billion mean it...
Striking Post-Gazette production and advertising workers accept buyout
Striking production and advertising workers at the Pittsburgh Post-Gazette have accepted a buyout offer, the Communications Workers of America union announced Thursday. The news comes after the Post-Gazette outsourced production of its print edition to the Butler Eagle — eliminating 31 union jobs in Allegheny County. The Post-Gazette has trimmed...
Giant Eagle set to close North Versailles supermarket
Giant Eagle announced it will be closing down its North Versailles supermarket and pharmacy on May 31. The company didn’t respond to TribLive’s inquiry about the reason for the closure but noted in a statement that it was a “difficult, but necessary decision.” It suggested that pharmacy customers at the...
Failed ATI contract blamed on wages, according to some United Steelworkers
A failed contract between United Steelworkers and ATI boils down to money and respect, according to some who voted against a six-year deal Monday. William “Scooter” Polczynski, a welder at Harrison’s Hot Strip Mill, said the contract wasn’t even worth looking at. “We’re working with molten steel every day and...
Wall Street rises after encouraging inflation data, but the trade war keeps knocking stocks around
NEW YORK — Stock indexes rose Wednesday after Wall Street got some relief from an encouraging inflation update. But even on a rare up day for the market, President Donald Trump’s trade war still knocked stocks around. The S&P 500 gained 0.5% after skidding between an early gain of 1.3%...
Explainer: What’s a recession and why is rising anxiety about it roiling markets?
WASHINGTON — Stock markets are plunging, consumers and businesses have started to sour on the economy, and economists are marking down their estimates for growth this year, with some even seeing rising odds of a recession. The tech-heavy Nasdaq stock index slipped into a correction last week, defined as a...
U.S. Steel claims rival, union conspired to sabotage Nippon merger
Attorneys for U.S. Steel argued in federal court in Pittsburgh on Wednesday that statements by rival Cleveland-Cliffs and the head of the United Steelworkers union amounted to an illegal conspiracy intended to sabotage their merger with Nippon Steel. But the defendants’ attorneys argued what their clients said about the potential...
EU retaliates against Trump’s trade moves and slaps tariffs on produce from Republican states
BRUSSELS — The European Union on Wednesday announced retaliatory trade action with new duties on U.S. industrial and farm products, responding within hours to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%. The world’s biggest trading bloc was expecting the U.S. tariffs and prepared...
U.S. inflation cooled last month, though trade war threatens to lift prices
WASHINGTON — U.S. inflation slowed last month for the first time since September and a measure of underlying inflation fell to a four-year low, even as widespread tariffs threaten to send prices higher. The consumer price index increased 2.8% in February from a year ago, Wednesday’s report from the Labor...
Explainer: What’s a recession and why is rising anxiety about it roiling markets?
WASHINGTON — Stock markets are plunging, consumers and businesses have started to sour on the economy, and economists are marking down their estimates for growth this year, with some even seeing rising odds of a recession. The tech-heavy Nasdaq stock index slipped into a correction last week, defined as a...
One Oxford Centre acquired for $92M less than 2016 sales price
Rugby Realty President Aaron Stauber started his Tuesday morning with 45 minutes of swimming at the Rivers Club in One Oxford Centre. “I was at work and in my office by 9:15 a.m.,” Stauber said. He’s part of the group that now owns the 1-million-square-foot, 45-story, aluminum and glass tower...
Canada incoming PM says he’ll keep tariffs in place until U.S. shows respect and commits to free trade
TORONTO — Incoming Canadian Prime Minister Mark Carney said Tuesday that his government will keep tariffs in place until Americans show respect and commit to free trade after U.S. President Donald Trump threatened historic financial devastation for Canada. Carney, who will be sworn in as Justin Trudeau’s replacement in the...
Wall Street falls in a manic day after briefly dropping more than 10% below its recordVideo
NEW YORK — The U.S.stock market fell further Tuesday as a result President Donald Trump’s latest escalation in his trade war, briefly pulling Wall Street 10% below its record set last month. And like it’s been most of the past few weeks, the market’s slide on Tuesday was erratic and...
