Business category, Page 47
Wall Street swerves lower after Trump announces tariffs and then puts some on hold
NEW YORK — Wall Street swung between sharp and more modest losses on Monday as stock markets worldwide sank on concerns President Donald Trump’s tariffs may ignite a punishing trade war. The S&P 500 was down 0.9% in afternoon trading after Asian and European indexes logged worse drops. The Dow...
Trump agrees to pause tariffs on Canada, Mexico after they pledge to boost border enforcement
WASHINGTON (AP) — President Donald Trump on Monday agreed to a 30-day pause on his tariff threats against Mexico and Canada as America’s two largest trading partners took steps to appease his concerns about border security and drug trafficking. The pauses provide a cool-down period after a tumultuous few days...
Investors are betting Musk and Tesla will make a fortune under Trump even as threats mount
NEW YORK — For Elon Musk fans, it’s the half a trillion-dollar bet. That is how much the stock market value of Tesla has rocketed since the presidential election, a vertiginous climb uninterrupted in recent days despite a disappointing financial report that would have sunk the stock of nearly any...
Ontario premier says he’s ‘ripping up’ $100M contract with Elon Musk’s Starlink in response to U.S. tariffs
TORONTO — The leader of Canada’s most populous province of Ontario said Monday he’s ripping up a contract with Elon Musk’s Starlink internet services in response to U.S. President Donald Trump’s sweeping tariffs on Canada. Ontario Premier Doug Ford, who said he is also banning American companies from provincial contracts,...
Restaurant owners pay twice the cost for eggs as bird flu spreads
Dick’s Diner in Murrysville purchases more than 2,800 eggs every week. That’s 16 cases, each holding 15 dozen eggs. But what used to cost the diner $800 a week has skyrocketed to more than double the price — nearly $1,730 every seven days. That’s nearly 62 cents per egg. General...
U.S. businesses brace for Trump’s tariffs on Canada, Mexico and China to drive up costs
WASHINGTON — From an ice cream parlor in California to a medical supply business in North Carolina to a T-shirt vendor outside Detroit, U.S. businesses are bracing to take a hit from the taxes President Donald Trump imposed Saturday on imports from Canada, Mexico and China — America’s three biggest...
Clubhouse restaurant in Richland getting new owner and new name
The Clubhouse, the beloved longtime restaurant and sports bar in Richland, soon will be under new ownership. While his status as sole owner is new, Mark Baranowski is not new to the Clubhouse. He and Greg Maggio founded the Clubhouse in 1995 after the two had previously established the North...
Thousands of Costco workers prepare to strike with midnight contract deadline looming
Thousands of Costco workers prepared to strike with a midnight deadline drawing closer Friday while the worker’s union and the company negotiated. The Teamsters union represents 18,000 Costco workers in six states: California, Washington, Maryland, Virginia, New Jersey and New York. It’s unclear if the strikes would close stores. Costco...
U.S. inflation ticked higher last month, in latest sign of persistent price pressures
WASHINGTON — An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts. Friday’s report from the Commerce Department showed that consumer prices rose 2.6% in December from a...
From avocados to autos, Trump tariffs on Canada and Mexico could hit close to home
WASHINGTON — The 25% tax that President Donald Trump plans to slap on imports from Canada and Mexico as soon as Saturday could drive up the price of everything from gasoline and pickup trucks to Super Bowl party guacamole dip. The tariffs would also invite retaliation. Doug Ford, the premier...
White House says Trump tariffs on Canada, Mexico and China will come Saturday. No word on exemptions
WASHINGTON — President Donald Trump will put in place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective on Saturday, the White House said, but it provided no word on whether there would be any exemptions to the measures that could result in...
Civil rights activists call for a Target boycott after retailer backs away from diversity programs
MINNEAPOLIS — Civil rights activists gathered outside the headquarters of Target Corp. on Thursday to call for a national boycott of the retailing giant over its decision to phase out its diversity, equity and inclusion initiatives. Target announced last Friday that it would join competitor Walmart and a number of...
Justice Department sues to block $14 billion Juniper buyout by Hewlett Packard Enterprise
The Justice Department sued to block Hewlett Packard Enterprise’s $14 billion acquisition of rival Juniper Networks on Thursday, the first attempt to stop a merger by a new Trump administration that is expected to take a softer approach to mergers. The Justice complaint alleges that Hewlett Packer Enterprise, under increased...
U.S. economy grows solid 2.3% from October to December, 2.8% for full year 2024
WASHINGTON — The American economy ended 2024 on a solid note with consumer spending continuing to drive growth. The Commerce Department reported Thursday that gross domestic product — the economy’s output of goods and services — expanded at a 2.3% annual rate from October through December. For the full year,...
9 additions coming to Ross Park Mall in 2025
Seven new stores, a restaurant and a bank-cafe are set to open this year at Ross Park Mall, some of which are new to the region, according to Simon Property Group, the mall’s owner. Upstairs, there will be a Capital One Café, which will offer customers “a full range of...
Things to know about the Trump administration order on car and pickup fuel economy
DETROIT — Hours after being sworn in as the new U.S. Secretary of Transportation, Sean Duffy took aim at the main way the federal government regulates miles per gallon for cars and pickup trucks — also a principal way that it regulates air pollution and addresses climate change. Duffy ordered...
Tax season has begun. Here’s when you’ll get your refund
NEW YORK — Tax season is underway, and the IRS expects 140 million people will file returns by April 15. The agency has also debuted a new online tool to help taxpayers check the status of any refund they may be entitled to. President Donald Trump this week offered all...
DeepSeek has rattled the AI industry. Here’s a quick look at other Chinese AI models
HONG KONG — The Chinese artificial intelligence firm DeepSeek has rattled markets with claims that its latest AI model, R1, performs on a par with those of OpenAI, despite using less advanced computer chips and consuming less energy. DeepSeek’s emergence has raised concerns that China may have overtaken the U.S....
Frontier makes a second bid for Spirit with budget airlines struggling
NEW YORK — No-frills, budget airlines often lead the industry in customer complaints, according to government data, so if one were to disappear would it be missed by travelers? That is a question U.S. regulators will be asking after Frontier Airlines said Wednesday that it wanted to buy Spirit Airlines,...
John Dorfman: 6 cheap stocks with great 5-year returns
For years, my mentor, David Dreman, invested in Westinghouse Electric Co. The stock was cheap, often selling for about nine times the company’s per-share earnings. The stock price marched up nicely, yet the stock stayed cheap, because earnings were rising as fast as the stock price. That’s a value investor’s...
Allegheny Township Big Lots appears to be in jeopardy as partial liquidation unfolds
The future of Big Lots’ footprint in Western Pennsylvania remains unclear, but it’s not looking good for the Allegheny Township location. Its lease was recently available for transfer, which is a sign it could close as part of the struggling bargain retailer’s acquisition by a Boston-based asset liquidation firm. Locations...
U.S. consumer confidence dips again to start the year, according to business group
WASHINGTON — U.S. consumer confidence dipped for the second consecutive month in January, a business research group said Tuesday. The Conference Board reported that its consumer confidence index retreated this month to 104.1, from 109.5 in December. That is worse than the economist projections for a reading of 105.8. December’s...
Coca-Cola issues safety recall of soft drinks in Europe over chemical chlorate concerns
BRUSSELS — Coca-Cola has recalled some of its soft drinks in Europe after higher-than-normal levels of a chemical called chlorate were detected in bottles and cans at a production plant in Belgium. Batches of Coca Cola, Fanta, Sprite, Minute Maid and Fuze Tea were among the products recalled in Belgium,...
Egg prices are soaring. Don’t expect that to change anytime soon
OMAHA, Neb. — Bird flu is forcing farmers to slaughter millions of chickens a month, pushing U.S. egg prices to more than double their cost in the summer of 2023. And it appears there may be no relief in sight, given the surge in demand as Easter approaches. The average...
Trump says Microsoft is one of the companies eyeing TikTok
President Donald Trump said Monday evening that Microsoft is among the U.S. companies looking to take control of TikTok to help the popular app avert an effective ban that could kick-in in April. “I would say yes,” Trump told reporters when asked if Microsoft was one of the companies interested...
