Business category, Page 135
Lordstown Motors shipping out first batch of electric trucks
LORDSTOWN, Ohio — Commercial electric vehicle startup Lordstown Motors has received approval to ship the first batch of its first model, the Endurance pickup. The company announced Tuesday that the first units of the initial batch of 500 trucks were leaving the plant after they passed safety tests and hit...
Mall at Robinson sold to New York firm in $46M deal
The Mall at Robinson has been sold to New York-based Kohan Retail Investment Group for $46 million. Chicago-based Jones Lang LaSalle, the real estate company that brokered the deal, announced the sale Tuesday. The two-level, 874,533-square-foot mall sees more than 4.8 million visitors per year, placing it among the top...
House votes to avert rail strike, impose deal on unionsVideo
WASHINGTON — The U.S. House moved urgently to head off the looming nationwide rail strike on Wednesday, passing a bill that would bind companies and workers to a proposed settlement that was reached in September but rejected by some of the 12 unions involved. The measure passed by a vote...
Highmark Health reports $268M in losses fueled by declining stock market
More than $670 million in investment losses contributed to an overall net loss for local health care giant Highmark Health during the first nine months of the year, according to the organization’s third-quarter financial report for 2022. Highmark Health reported $19.5 billion in revenue from January through September, about a...
DoorDash cuts 1,250 jobs after pandemic hiring surge
DoorDash is eliminating about 1,250 corporate jobs, or about 6% of its workforce, saying it hired too many people when delivery demand surged during the covid-19 pandemic. CEO Tony Xu said in a message to employees Wednesday that DoorDash was undersized before the pandemic and sped up hiring to catch...
Amazon says it had its biggest Thanksgiving shopping weekend
NEW YORK — Amazon said Wednesday it had its biggest ever Thanksgiving holiday shopping weekend, aided by a record number of consumers looking for deals online amid high inflation. The e-commerce company does not typically share how much it earns during its sales events and did not disclose its overall...
U.S. job openings fell in October to still-high level
WASHINGTON — U.S. job openings dropped in October but remained high, a sign that businesses became slightly less needy for workers as the Federal Reserve ramps up interest rates in an effort to cool the economy. Employers posted 10.3 million job vacancies in October, down from 10.7 million in September,...
How Uber and Lyft are transforming U.S. cities
Over the last decade, the meteoric rise of ridesourcing services like Uber and Lyft have transformed the urban landscape, affecting travel patterns, car ownership, and congestion, and more broadly, the economy, the environment, and equity. The ways in which Uber and Lyft are redefining mobility is the focus of a...
Congress prepares to take up bill preventing rail strike
WASHINGTON — Congress is moving swiftly to prevent a looming U.S. rail workers strike, reluctantly intervening in a labor dispute to stop what would surely be a devastating blow to the nation’s economy if the transportation of fuel, food and other critical goods were disrupted. The House was expected to...
Gas driller pleads no contest to polluting Pennsylvania town’s water
MONTROSE — Pennsylvania’s most active gas driller pleaded no contest Tuesday to criminal charges, capping a landmark environmental case against a company prosecutors say polluted a rural community’s drinking water 14 years ago and then tried to evade responsibility. Residents of the tiny crossroads of Dimock in northeastern Pennsylvania said...
West Virginia cash-for-worker program adds 4th destination
CHARLESTON, W.Va. — A program offering cash and free outdoor adventures to remote workers to move to West Virginia with the hope of offsetting population losses has welcomed 143 new residents in the year since it launched, officials announced Tuesday. The public-private program Ascend West Virginia said it has added...
Competitors chip away at Tesla’s U.S. electric vehicle share
DETROIT — New electric vehicle models from multiple automakers are starting to chip away at Tesla’s dominance of the U.S. EV market, according to national vehicle registration data. But numbers collected by S&P Global Mobility show that Tesla still controlled about 65% of the growing electric vehicle market during the...
Heating oil prices could go up as much as 45% in Pa.
Pennsylvania homeowners who use heating oil could see their bills increase 45% this winter due to higher prices and colder temperatures. The U.S. Energy Information Administration said this month that low inventory of fuels used for diesel and home heating oil will lead to high prices through the start of...
4 reasons for thrift store gifts this year
Thrifting is hot, and Goodwill finds are cool again. But while we’re thrilled to find the perfect throwback tee for our own closet, gifting used goods still carries a stigma for some. It shouldn’t. Secondhand gifts are better for your wallet, your community and the environment. “The planet is drowning...
U.S. consumer confidence falls in November for 2nd month
U.S. consumer confidence fell for the second straight month in November amid ongoing high inflation, rising interest rates, and layoffs in the tech sector. The Conference Board reported Tuesday that its consumer confidence index fell to 100.2 this month, down from 102.2 in October. November’s figure is the lowest since...
U.S. stocks edge higher in unsteady trading, oil prices rise
NEW YORK — Stocks edged mostly higher in unsteady trading on Wall Street Tuesday as some concerns dissipate over protests in China against that country’s severe covid restrictions. The S&P 500 rose 0.1% as of 10:19 a.m. Eastern after bobbing between small gains and losses throughout the morning. The Dow...
Why some Western Pa. hospitals choose to remain independent
Editor’s note: This is the final part of a three-day series examining the rapidly changing health care landscape in Western Pennsylvania. Lynn Botelho has lived her life traveling the globe, navigating some of the world’s most time-honored academic institutions. But when she was handed a cancer diagnosis, she looked no...
Stock indexes fall as lockdown protests spread in ChinaVideo
A broad slide on Wall Street left stocks lower Monday as global financial markets reacted to protests in China calling for President Xi Jinping to step down amid growing anger over severe covid-19 restrictions. The S&P 500 fell 1.5%, clawing back all of the benchmark index’s gains from last week....
Biden calls on Congress to head off potential rail strike
OMAHA, Neb. — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s deadline in the stalled contract talks, and House Speaker Nancy Pelosi said lawmakers would take up legislation this week to impose the deal that unions agreed to in September. “Let...
Cyber Monday deals lure in consumers amid high inflation
NEW YORK — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation. Cyber Monday is expected to remain the year’s biggest online shopping day and rake...
Holiday survival tips from 5 financial pros
For Ryan Decker, surviving the holiday shopping season is all about planning ahead. In fact, if he sees a gift for one of his two young sons in March, he’ll go ahead and buy it, instead of rushing through his shopping list in December. “It very much eases the burden,”...
Hospitals embrace mergers as path to survival
Editor’s note: This is the second part of a three-day series examining the rapidly changing health care landscape in Western Pennsylvania. As Excela Health CEO John Sphon irons out the details of a merger with Butler Health System, his message to the public is clear. He believes the alliance...
As Western Pa. hospitals expand, fears grow over higher health care costsVideo
Editor’s note: This is the first part of a three-day series examining the rapidly changing health care landscape in Western Pennsylvania. Western Pennsylvania’s two health care giants have jumped into a controversial nationwide hospital building boom, spending billions on glitzy, state-of-the-art facilities that critics say patients ultimately will pay for...
U.S. FCC bans sales, import of Chinese tech from Huawei, ZTE
WASHINGTON — The U.S. is banning the sale of communications equipment made by Chinese companies Huawei and ZTE and restricting the use of some China-made video surveillance systems, citing an “unacceptable risk” to national security. The five-member Federal Communications Commission said Friday it has voted unanimously to adopt new rules...
Autonomous vending robot being tested at Pittsburgh International Airport
Hungry passengers waiting to board flights at Pittsburgh International Airport might no longer have to leave their gates. Soon, they could be able to hail a robot vendor to bring them a snack. An autonomous vending robot run by California-based tech company Ottonomy is being tested at Pittsburgh International as...
