Business category, Page 85
Macy’s to close 150 stores as sales slip as it pivots to luxury at Bloomingdale’s, Blue Mercury
NEW YORK — Macy’s will close 150 stores over the next three years and 50 by the end of 2024, the department store said Tuesday after posting a fourth quarter loss and declining sales. At the same time the company signaled a pivot to luxury. It said it would open...
Wendy’s to introduce surge-style pricing
How much you pay for a Wendy’s meal could depend on when you’re hungry. The Ohio-based fast-food chain is planning to introduce dynamic — or surge — pricing in 2025, according to Fox Business. That means the price of burgers, fries, chicken nuggets and Wendy’s signature Frosty milkshakes could fluctuate...
Employers at job fair face hurdles to fill slots — fewer workers and low unemployment rate
About four dozen businesses and organizations seeking workers at a job fair this week in Hempfield are facing a double whammy as they attempt to woo prospective employees: The jobless rate is at a record low, and there are fewer people in the workforce since the covid pandemic upended the...
U.S. sues to block merger of grocery giants Kroger and Albertsons, saying it could push prices higher
The Federal Trade Commission sued to block a proposed merger between grocery giants Kroger and Albertsons, saying the $24.6 billion deal would eliminate competition and lead to higher prices for millions of Americans. The FTC filed a lawsuit in U.S. District Court in Oregon on Monday. It was joined in...
What recession? Professional forecasters raise expectations for U.S. economy in 2024
NEW YORK — This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey released Monday. The economy looks set to grow 2.2% this year after adjusting for inflation, according to the National Association...
Consumers are increasingly pushing back against price increases — and winning
WASHINGTON — Inflation has changed the way many Americans shop. Now, those changes in consumer habits are helping bring down inflation. Fed up with prices that remain about 19%, on average, above where they were before the pandemic, consumers are fighting back. In grocery stores, they’re shifting away from name...
AT&T says some customers will receive credits as a result of network outage
AT&T said that it plans to reimburse customers for the nearly 12-hour network outage that took place Feb. 22. The company announced in a news release late Saturday that it will issue a $5 credit to “potentially impacted” AT&T Wireless customers, which it says is the “average cost of a...
‘A big fumble’: Pittsburgh’s clunky rollout of plastic bag ban sows confusion
Jake Diettrich, manager of Market Outlet, a Pittsburgh produce shop, has been grappling since January with the city’s plastic bag ban. Diettrich has had to calm grumbling patrons, swap his stock of outlawed plastic bags for pricier paper ones and contend with worries that the bag ban and mandatory fees...
Warren Buffett uses annual letter to warn about Wall Street
OMAHA, Neb. — Warren Buffett credited his longtime partner — the late Charlie Munger — with being the architect of the Berkshire Hathaway conglomerate he has received the credit for leading and warned shareholders in his annual letter Saturday not to listen to Wall Street pundits or financial advisers who...
Student loan forgiveness plan in Pennsylvania wipes out $45.1M in debt for 5,600 borrowers
The Biden administration this week canceled $1.2 billion in student debt nationwide. In Pennsylvania, that means 5,600 borrowers with a total of $45.1 million in debt have had their loans wiped clean, according to the U.S. Department of Education. The agency on Friday released a state-by-state breakdown of where the...
Dick’s signs lease for former Westmoreland Mall Sears
Dick’s Sporting Goods plans to move into the former Sears at Westmoreland Mall, according to the company that controls the property. The Findlay-based sporting goods chain already has a store behind the mall in Hempfield. Dick’s hasn’t responded to requests seeking comment about the move. Transformco Properties, a Chicago-area company...
Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers
LOS ANGELES — Sales of previously occupied U.S. homes rose in January as homebuyers were encouraged by easing mortgage rates and a modest pickup in properties on the market. Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4 million, the National Association...
‘Something’s not right to me,’ UPS worker says of cuts at New Stanton hub
A United Parcel Service employee said she felt betrayed this week after receiving news the company plans to shed about 200 jobs from its New Stanton delivery hub. “In the end, we got screwed. It’s rough. Something’s not right to me,” said Lindsey Kramer, 37, of Mt. Pleasant. She was...
Boeing ousts head of 737 jetliner program weeks after panel blowout on a flight over Oregon
SEATTLE — Boeing said Wednesday that the head of its 737 program is leaving the company in an executive shake-up weeks after a door panel blew out on a flight over Oregon, renewing questions about safety at the company. Boeing announced the departure of Ed Clark, who had been with...
American Airlines is raising bag fees, changing how customers earn frequent-flyer points
DALLAS — American Airlines is raising the cost of checking bags and it is making other changes to push customers to buy tickets directly from the airline if they want to earn frequent-flyer points. The airline said Tuesday that checking a bag on a domestic flight will rise from $30...
UPS plans layoffs at New Stanton facility
Global shipper UPS plans to eliminate the full daylight shift that sorts packages at its New Stanton facility April 15, the company said Tuesday. Teamsters Local 30 in Jeannette will meet with its members Wednesday to discuss the company’s plans to cut the local workforce, said Eugene “Geno” Bosetti, president...
Capital One to buy Discover for $35 billion in deal that combines major U.S. credit card companies
NEW YORK — Capital One Financial said it will buy Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s credit card companies as well as potentially shake up the payments industry, which is largely dominated by Visa and Mastercard. Under the terms...
TikTok faces European Union scrutiny for possible breaches of strict new digital rulebook
LONDON — The European Union said Monday it is investigating whether TikTok has broken the bloc’s strict new digital rules for cleaning up social media and keeping internet users safe. The European Commission, the EU’s executive branch, said it has “opened formal proceedings to assess” whether TikTok has breached the...
In-demand apprentice machinists compete for regional awards as industry looks fill vacant jobs
Travis Bayne of New Kensington was focused on cutting a cylinder-shaped piece of aluminum on a manual lathe Friday as part of a competition for apprentice machinists determined to produce a precise, quality machined part as quickly as possible. “You’re trying to get the job done as fast as you...
Tech companies sign accord to combat AI-generated election trickery
Major technology companies signed a pact Friday to voluntarily adopt “reasonable precautions” to prevent artificial intelligence tools from being used to disrupt democratic elections around the world. Tech executives from Adobe, Amazon, Google, IBM, Meta, Microsoft, OpenAI and TikTok gathered at the Munich Security Conference to announce a new voluntary...
U.S. wholesale inflation accelerated in January in latest sign that prices picked up
WASHINGTON — Wholesale prices in the United States accelerated in January, the latest sign that some inflation pressures in the economy remain elevated. The Labor Department reported Friday that its producer price index — which tracks inflation before it reaches consumers — rose 0.3% from December to January after having...
Cleveland-Cliffs to shutter West Virginia tin plant, lay off 900 after tariff ruling
CHARLESTON, W.Va. — Cleveland-Cliffs announced Thursday that it is shutting down a northern West Virginia tin production facility indefinitely and plans to lay off 900 workers after the International Trade Commission voted against imposing tariffs on tin imports. The trade commission ruled earlier this year that no anti-dumping and countervailing...
Ford CEO says company will rethink where it builds vehicles after last year’s autoworkers strike
DETROIT — Last fall’s contentious United Auto Workers’ strike changed Ford’s relationship with the union to the point where it will “think carefully” about where it builds future vehicles, Ford’s top executive said Thursday. CEO Jim Farley told the Wolfe Research Global Auto Conference in New York that the company...
Date night strike: Thousands of U.S., UK delivery, ride-hailing drivers stop work on Valentine’s Day
Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for fair compensation and other changes to their working conditions. In the U.S., Uber and Lyft drivers planned daylong strikes in Pittsburgh; Chicago; Philadelphia; Miami; Orlando and Tampa, Florida; Hartford, Connecticut;...
Sony’s profit rises on growing sales of music, games, pictures, sensors
TOKYO — Japanese electronics and entertainment company Sony’s profit rose 13% in October-December on growing sales of music, image sensors and video games, the company said Wednesday. Tokyo-based Sony Corp.’s quarterly profit totaled 363.9 billion yen, or $2.4 billion, up from 321.5 billion yen the year before. Quarterly sales for...
