Business category, Page 49
Trump is holding off on tariffs but betting Day 1 moves can cut energy prices and tame inflation
WASHINGTON — Donald Trump is holding off on tariffs during his first day and placing a big bet that his executive actions can cut energy prices and tame inflation. But it’s unclear whether his orders will be enough to move the U.S. economy as he promised. “The inflation crisis was...
Trump says he ‘most likely’ will grant an extension toward TikTok ban
The clock is ticking toward a U.S. ban on TikTok, but users seeking clarity on what that will mean did not get much Saturday from the company that runs the popular video-sharing platform or the tech giants that offer the TikTok app in their digital marketplaces. However, President-elect Donald Trump...
Former First Energy executives indicted in Ohio bribery scheme
A former CEO and one of his top executives with an Ohio energy company at the center of a $60 million bribery scheme have been indicted on racketeering charges, federal prosecutors announced Friday. The former FirstEnergy Corp. executives — ex-CEO Chuck Jones and Senior Vice President Michael Dowling — were...
U.S. lawsuit accuses Pepsi of price discrimination that favored Walmart over smaller stores
The Federal Trade Commission sued PepsiCo on Friday, alleging that it has engaged in illegal price discrimination by giving unfair price advantages to one big-box retailer at the expense of other vendors and consumers. The benefiting customer wasn’t named in an FTC statement about the lawsuit. But a source familiar...
What other apps can you turn to with TikTok ban just days away?
With a possible TikTok ban just days away, many U.S. users are looking for alternative social media platforms to help them keep up with pop culture or provide the type of entertaining videos that popularized the short-form video app. The Supreme Court on Friday unanimously upheld the federal law banning...
How to prepare for a TikTok ban, including how to save your content
TikTok has cemented itself as a quintessential entertainment app, offering everything from funny skits and makeup tutorials to social commentary and news. Without a sale to an approved buyer, the platform is expected to vanish from U.S. app stores by Sunday now that the Supreme Court unanimously upheld the the...
Nintendo says its new Switch 2 console will be released in 2025
LOS ANGELES — Gaming giant Nintendo revealed its newest console Thursday in a highly anticipated announcement gamers had been waiting for since rumors of its release first spread years ago. But the initial reaction to the Nintendo Switch 2 was lackluster, and the company’s Tokyo-traded shares slumped 4.3% on Friday....
Springdale boiler house to be demolished conventionally instead of imploded, property owner says
The boiler house at Springdale’s former power plant will be torn down conventionally instead of imploded as the property owner originally planned. Scott Reschly, vice president of operations for Charah Solutions, said crews intend to demolish the boiler house at the former Cheswick Generating Station between mid-February and early March....
More Americans file for unemployment benefits last week, but layoffs remain historically low
The number of Americans applying for unemployment benefits rose last week, but layoffs remain historically low and the job market broadly healthy. Applications for jobless benefits rose by 14,000 for the week ending January 11, the Labor Department said Thursday, up from the previous week’s 203,000. The previous week’s figure...
U.S. retail sales rose modestly last month amid solid holiday shopping, boosting economy
Americans stepped up their spending at retail stores and restaurants last month in a clear sign that consumers are still able and willing to shop. Retail sales rose 0.4% in December from the previous month, the Commerce Department said Thursday, though down from November’s upwardly revised 0.8% gain. The figures...
How much is TikTok worth and who could buy it?
NEW YORK — The supremely popular TikTok could be banned on Jan. 19 under a federal law that forces the video sharing platform to divest itself from its China-based parent company, ByteDance, or shut down its U.S. operations. Several parties have expressed interest in buying the platform, but ByteDance has...
Jeff Bezos’ Blue Origin launches massive New Glenn rocket on 1st test flight and reaches orbit
CAPE CANAVERAL, Fla. — Blue Origin launched its massive new rocket on its first test flight Thursday, sending up a prototype satellite to orbit thousands of miles above Earth. Named after the first American to orbit Earth, the New Glenn rocket blasted off from Florida, soaring from the same pad...
U.S. recovers $31 million in Social Security payments to dead people
WASHINGTON — The U.S. government clawed back more than $31 million in Social Security payments that improperly went to dead people, a recovery that one official said Wednesday was “just the tip of the iceberg.” The money was reclaimed as part of a five-month pilot program after Congress gave the...
What’s so great about Wegmans? We went to the Erie store to askVideo
Wegmans is coming. Wegmans is coming. Wegmans executives said they are eyeing late 2027 as the target date to open their recently announced Cranberry location and hinted there could be more stores coming to the Pittsburgh area. So, why the hoopla? A TribLive journalist drove to the Erie store this...
FDA bans red dye No. 3 from foods
U.S. regulators on Wednesday banned the dye called Red 3 from the nation’s food supply, nearly 35 years after it was barred from cosmetics because of potential cancer risk. Food and Drug Administration officials granted a 2022 petition filed by two dozen food safety and health advocates, who urged the...
U.S. inflation likely remained elevated last month, threatening interest rate cuts
WASHINGTON — U.S. inflation probably worsened last month on the back of higher prices for gas, eggs, and used cars, a trend that could lessen the chance that the Federal Reserve will cut its key interest rate much this year. On Wednesday the Labor Department is expected to report that...
SEC sues Elon Musk, saying he didn’t disclose Twitter ownership on time before buying it
The Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social media site. As a result, the SEC alleges, Musk was able to underpay “by at least $150 million” for...
Cardinal Coffee opens cafe in Jeannette, continues legacy of owner’s deceased son
The past 15 years of Robert Zollinger’s life would undoubtedly look different if it weren’t for the dream of his son, Jason. Jason Zollinger envisioned running his own coffee roastery — a vision he put into motion through Cardinal Coffee Co. in 2010. Inviting his dad to join in on...
Consol merger with Arch: Well-positioned for global sales
Pennsylvania’s largest coal company on Tuesday completed its merger with the nation’s second-largest coal producer, creating an industry giant with 25 million tons of annual exporting capacity at a time when global coal use remains strong, according to industry observers. Consol Energy Inc. of Cecil and Arch Resources Inc. of...
John Dorfman: Can analysts pick stocks? I doubt it
Can professional analysts pick stocks? Don’t laugh. Analysts perform many valuable functions. They ask probing questions of management, estimate earnings and provide a wealth of information on companies and industries. However, a study I’ve been conducting for a quarter of a century suggests they are no better at picking stocks...
Wegmans looks to open Cranberry location in late 2027, hints at further expansion in regionVideo
Wegmans executives said they are eyeing late 2027 as the target date to open their recently announced Cranberry location and hinted there could be more stores coming to the Pittsburgh area. The store still has to get final approval from Cranberry Township and enter the permitting process for the proposed...
Trump says he will create an External Revenue Service agency to collect tariff income
WASHINGTON — President-elect Donald Trump on Tuesday announced plans to create a new agency called the External Revenue Service to collect tariffs and other revenues from foreign nations. “We will begin charging those that make money off of us with Trade, and they will start paying,” Trump said Tuesday on...
U.S. TikTok users flock to Chinese app Xiaohongshu in protest with TikTok ban looming
HONG KONG — As the threat of a TikTok ban looms, U.S. TikTok users are flocking to the Chinese social media app Xiaohongshu — making it the top downloaded app in the U.S. Some of the “TikTok refugees,” as they call themselves, say the TikTok alternative, a Chinese app, is...
10 restaurants, stores and chains we’d like to see come to Pittsburgh
A long-sought Wegmans will finally be coming to the Pittsburgh region, with the grocery store chain on Monday announcing plans to open a location in Cranberry. Other coveted regional chains have popped up locally in recent years, with Raising Canes opening its first location in Oakland in 2023 (followed by...
Hanging out at Starbucks will cost you as company reverses its open-door policy
If you want to hang out or use the restroom at Starbucks, you’re going to have to buy something. Starbucks on Monday said it was reversing a policy that invited everyone into its stores. A new code of conduct — which will be posted in all company-owned North American stores...
