Business category, Page 52
Report: Nippon Steel offers 10-year guarantee to gain approval of U.S. Steel acquisition
In a last-ditch effort to gain approval for its acquisition of U.S. Steel, Nippon Steel is offering a 10-year guarantee that it would not reduce production capacity at U.S. Steel’s mills in six states, including Pennsylvania, the Washington Post reported. The newspaper cited a document sent to the White House....
Greensburg, Hempfield areas see changes in fast food, retail business scene
As fast food chains and other popular retail locations close in the Greensburg-Hempfield area, the region’s business scene will see some changes in the new year. Dick’s Sporting Goods While Westmoreland Mall prepares to welcome a Dick’s Sporting Goods House of Sport, one of the chain’s stores along Route 30...
Small businesses brace themselves for potentially disruptive TikTok ban
A looming TikTok ban could affect the millions of small businesses that use the short-video social media app to help them grow their business. Desiree Hill, owner of Crown’s Corner Mechanic in Conyers, Georgia, started her business solo as a mobile mechanic. Sharing videos of her work on TikTok helped...
In 2024, artificial intelligence was all about putting AI tools to work
If 2023 was a year of wonder about artificial intelligence, 2024 was the year to try to get that wonder to do something useful without breaking the bank. There was a “shift from putting out models to actually building products,” said Arvind Narayanan, a Princeton University computer science professor and...
Value-seekers drove 2024’s retail trends and dead ends
Value was in vogue in 2024. Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices. Well-heeled customers traded down to Walmart and Aldi. Diners opted for fast food or home cooking instead of...
10 tips from experts to help you change your relationship with money in 2025
NEW YORK — With the end of 2024 around the corner, you might be reflecting on financial goals for 2025. Whether you’re saving to move out of your parents’ house or pay off student loan debt, financial resolutions can help you stay motivated, said Courtney Alev, consumer advocate for Credit...
Big Lots reaches deal to keep hundreds of U.S. stores open
The discount chain Big Lots, which filed for bankruptcy protection in September, has reached a deal that will keep hundreds of its stores and distribution centers open. Big Lots said Friday it will be sold to Gordon Brothers Retail Partners, a firm that specializes in distressed companies. Gordon Brothers will...
Elon Musk causes stir with post insulting American tech workers, supporting H-1B visas
Trump administration adviser Elon Musk angered MAGA supporters with his approval of a social media post sarcastically explaining that immigrants are needed for tech jobs because U.S. workers aren’t qualified enough. Using the X social media platform owned by Musk, an account called Autism Capital summed up the debate over...
Trump asks Supreme Court to pause law threatening TikTok ban
WASHINGTON — President-elect Donald Trump thrust himself into the high-stakes fight over the fate of TikTok in the U.S. by urging the Supreme Court to pause a law that would ban the social media platform if it isn’t sold by its Chinese parent company. Trump said the court should give...
New York state government to monitor its use of AI under a new law
ALBANY, N.Y. — New York state government agencies will have to conduct reviews and publish reports that detail how they’re using artificial intelligence software under a new law signed by Gov. Kathy Hochul. Hochul, a Democrat, signed the bill last week after it was passed by state lawmakers this year....
Holiday shoppers increased spending by 3.8% despite higher prices
Sales rose this year during the holiday shopping season even as Americans wrestled with elevated prices for many groceries and other necessities, according to new data. Holiday sales from the beginning of November through Christmas Eve climbed 3.8%, outpacing the 3.1% increase from a year earlier, according to Mastercard SpendingPulse,...
How the stock market defied expectations again this year, by the numbers
NEW YORK — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The year featured many familiar winners, such as Big Tech, which got even bigger...
U.S. applications for unemployment benefits hold steady, but continuing claims rise to 3-year high
WASHINGTON — The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Jobless claim applications ticked down by 1,000 to 219,000 for the week of Dec. 21, the Labor Department reported Thursday. That’s fewer than the 223,000...
Fueled by anger and caffeine, 200 Starbucks workers strike in Pittsburgh area
In Pittsburgh’s Oakland neighborhood on Tuesday, the sound of holiday songs filled the air outside the closed Starbucks at Forbes Avenue and Atwood Street. But the carolers weren’t fueled by holiday cheer. They were actually striking baristas from various stores in the Pittsburgh area demanding a union contract alongside their...
Walmart, fintech partner accused of illegally opening costly bank accounts for drivers
Walmart Inc. and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers of the world’s largest retailer without their consent, a U.S. consumer protection agency said Monday. The Consumer Financial Protection Bureau sued Walmart and Branch Messenger Inc., claiming they required those in the Spark...
Egg shortage expected to ease in 2025, USDA says
As avian flu scrambles the nationwide egg supply, consumers often face limited availability of the breakfast staple, with shortages expected to persist until mid-2025, according to U.S. agriculture officials. Some supermarkets report empty shelves, and others are rationing purchases to ensure eggs remain available to all customers. Since early November,...
Local business owner joins prestigious Spark 10 for women in manufacturing
A local Black business owner is getting a place on the national stage. Nisha Blackwell, CEO, designer and founder of Knotzland, was nominated by a long-time customer to be part of Recast City’s inaugural Spark 10, which focuses on women in manufacturing — specifically, small business owners with brick-and-mortar retail...
Nordstrom to be acquired by Nordstrom family and a Mexican retail group for $6.25 billion
Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal with the industry being squeezed by discount chains and other competition. Public companies are under a lot more scrutiny and if private, the Nordstroms...
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
NEW YORK — The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to 1978 grapples with mounting losses and cash flow shortages. The Texas company has faced increasing competition from retailers like Target and Walmart at the same time that...
What a merger between Nissan and Honda means for automakers and the industry
BANGKOK — Japanese automakers Honda and Nissan will attempt to merge and create the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance...
U.S. Steel, Nippon, Mon Valley mayors urge Biden to approve $14.9B deal
The Committee on Foreign Investment in the United States told the White House on Monday it is deadlocked on the proposed $14.9 billion sale of U.S. Steel to Japan’s Nippon Steel Co., teeing up President Joe Biden to block the deal. The decision, or lack thereof, was first reported by...
Party City to close its stores as company files for bankruptcy
LOS ANGELES — For nearly 40 years, customers flocked to Party City for Halloween costumes, favors for children’s birthday parties and decorations for New Year’s Eve celebrations. Now, the go-to shop for everything from cartoon-themed balloons to Super Bowl decor is closing stores. Party City announced Saturday that it would...
From teen CEO to entrepreneur: Lani Lazzari grows Simple Sugars into skincare powerhouse
Entrepreneur Lani Lazzari continues to stir things up in the skincare world. She was just 11 when she began experimenting with sugar and other all-natural ingredients in an attempt to cure her eczema and other related skin issues in the basement of her parents’ Fox Chapel home. Her mother, Gina...
NLRB seeks injunction for striking Post-Gazette newsroom workers
The National Labor Relations Board on Friday requested an injunction in federal court on behalf of striking newsroom workers at the Pittsburgh Post-Gazette. If the 3rd U.S. Circuit Court of Appeals fully grants the request, the Post-Gazette would be required to restore the terms of the expired contract with the...
Starbucks workers plan strikes that could spread to hundreds of U.S. stores by Christmas Eve
Workers at Starbucks stores plan to go on a five-day strike starting Friday to protest lack of progress in contract negotiations with the company. The strikes by baristas and other workers were scheduled to take place in Los Angeles, Chicago and Seattle and could spread to hundreds of stores across...
