Business category, Page 116

It’s tradition for Pittsburghers to give directions to landmarks that no longer exist. “Turn right where Schenley High School used to be.” It is a quirk that showcases the region’s love for nostalgia and respect for its history. Dozens of construction projects are happening in the city. Buildings that housed...

Pittsburgh is experiencing a building boom worth billions. About 80 large construction projects are in the works or have been proposed in the city, according to Tribune-Review research and data from construction analyst firm Tall Timber Group. About half are under construction. The projects range from office space and multi-use...

NEW YORK — Amazon on Friday announced it has agreed to acquire the vacuum cleaner maker iRobot for about $1.7 billion, scooping up another company to add to its collection of smart home appliances amid broader concerns about the company’s market power. iRobot sells its products worldwide and is most...

WASHINGTON — America’s hiring boom continued last month as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a recession. July’s hiring was up from 398,000 in June. The unemployment rate slipped to 3.5%. The U.S. economy shrank in the first two quarters of 2022 —...

For the first time in 45 years, Pennsylvania workers woke up to updated Minimum Wage Act regulations Friday morning. The new state regulations revise how employers pay tipped employees and process noncash tips, among other changes. They also align Pennsylvania regulations with federal ones. These regulations were proposed by Gov....

SAN FRANCISCO — Twitter denied in a court filing that it had deprived its would-be acquirer, billionaire and Tesla CEO Elon Musk, of necessary information or misrepresented details about its business. Musk originally made those charges to justify his attempt to back out of a $44 billion deal to buy...

NEW YORK — To understand the impact of surging inflation on this year’s back-to-school spending, look no further than children’s rain boots with motifs like frogs and ladybugs made by Washington Shoe Co. Spending held steady for these evergreen items even after the Kent, Washington-based business was forced to pass...

WASHINGTON — A bipartisan group of senators on Wednesday proposed a bill to regulate cryptocurrencies, the latest attempt by Congress to formulate ideas on how to oversee a multibillion-dollar industry that has been racked by collapsing prices and lenders halting operations. The regulations offered by Senate Agriculture Committee chair Debbie...

NEW YORK — Robinhood Markets said Tuesday it’s cutting nearly a quarter of its workforce, as crashing cryptocurrency prices and a turbulent stock market keep more customers off its trading app. CEO Vlad Tenev said the company, whose easy-to-use app helped bring a new generation of investors to the market,...

WASHINGTON — American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates. Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said Tuesday. In its monthly Job Openings and Labor Turnover Survey,...

The maker of Banana Boat sunscreen is recalling a scalp spray because it contains trace amounts of benzene, a chemical which can cause cancer with repeated exposure. Edgewell Personal Care Co. announced the voluntary recall Friday. It said benzene was detected in internal reviews of Banana Boat Hair and Scalp...

You don’t have to tell Kevin McCallister there’s something wrong with the economy. “I’m just trying to stay under the radar as far as raising prices,” said McCallister, owner of Kevin’s Deli in Pittsburgh’s Oakland neighborhood. While businesses often raise prices every year, many small businesses have been raising prices...

After a drop of about 20% in the first six months of this year, investors feel nervous even though July has been good. This might be a good time to look at my Sane Portfolio. It is a hypothetical portfolio of 12 stocks. I started compiling it in 1999 and...

Sheetz plans to add 30 gas stations and convenience stores in Western Pennsylvania over the next three to five years. The Altoona-based chain said it is working with commercial real estate firm CBRE to identify sites for the new locations. Brian Dinges, assistant vice president of real estate, acknowledged that...

WASHINGTON — An inflation gauge that is closely tracked by the Federal Reserve jumped 6.8% in June from a year ago, the biggest increase in four decades, and leaving Americans with no relief from surging costs. Friday’s figures from the Commerce Department underscored the persistence of the inflation that is...

NEW YORK — Oil companies swam in record profits over the last few months at a time when Americans struggled to pay for gasoline, food and other basic necessities. On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion....

Westmoreland County Airport Authority Executive Director Gabe Monzo said he’s hopeful a $3.8 billion deal for JetBlue to purchase Spirit Airlines ultimately will be a boon for local travelers. But there are no guarantees. The deal was announced Thursday. Spirit has been the sole carrier at Arnold Palmer Regional Airport...

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported Thursday in the gross domestic product — the broadest gauge of...

JetBlue has agreed to buy Spirit Airlines for $3.8 billion in a deal that would create the nation’s fifth largest airline if approved by U.S. regulators. The agreement Thursday comes a day after Spirit’s attempt to merge with Frontier Airlines fell apart. Spirit had recommended its shareholders approve a lower...

LONDON — Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas fueled by Russia’s war in Ukraine. London-based Shell said it’s second-quarter adjusted earnings — which exclude one-time items and fluctuations in the value of inventories...

Stocks on Wall Street are solidly higher in afternoon trading Wednesday after the Federal Reserve raised its key interest rate by a widely expected three-quarters of a point as the central bank ratchets up its campaign to quell surging inflation. The Fed’s move, its second three-quarters of a point hike...

WASHINGTON — With inflation at a four-decade high, the job market strong and consumers still spending, the Federal Reserve is under pressure to continue raising interest rates aggressively. When it ends its latest policy meeting Wednesday afternoon, the Fed is expected to impose a second consecutive three-quarter-point hike in its...

HARRISBURG — A Pennsylvania-based convenience store chain will pay $8 million to several states over a 2019 data breach that involved some 34 million payment cards, authorities announced Tuesday. The Pennsylvania attorney general’s office said Wawa Inc. did not take reasonable security measures to prevent hackers from installing malware that...

WASHINGTON — By one common definition, the U.S. economy is on the cusp of a recession. Yet that definition isn’t the one that counts. On Thursday, when the government estimates the gross domestic product for the April-June period, some economists think it may show that the economy shrank for a...