Business category, Page 151
Saxonburg-based II-VI acquires California company, changes name
A Butler County company with Roman numerals for a name is putting to rest its link to the periodic table of elements in conjunction with its acquisition of a California firm that II-VI Inc. says holds the promise to boost its hold in the materials, networking and laser markets. II-VI...
Testimony begins in question of lease termination for Pittsburgh airport concessions operatorVideo
An Allegheny County Common Pleas judge on Friday heard the first part of testimony over whether the company contracted to oversee concessions at Pittsburgh International Airport can continue with its work. Fraport Pittsburgh, which is contracted through 2029 with the Allegheny County Airport Authority to oversee its retail, and food...
Chip shortage leaves 95K GM vehicles incomplete in storage
DETROIT — The global shortage of computer chips forced General Motors to build 95,000 vehicles without certain components during the second quarter. The Detroit automaker said in a regulatory filing Friday that most of the incomplete vehicles were built in June, and that it expects most of them to be...
Kohl’s sale falls apart in shaky retail environment
SILVER SPRING, Md. — The potential sale of the Kohl’s department store chain has fallen apart in a shaky retail environment of rising inflation and consumer anxiety. Kohl’s entered exclusive talks early this month with Franchise Group, the owner of Vitamin Shop and other retail outlets, on a deal worth...
Air travelers brace for turbulence over Fourth of July weekend
Scott Vargo was among those Thursday at Pittsburgh International Airport taking their chances and hoping for the best. Amid the airline industry’s nationwide struggles with cancellations and delays, Vargo nonetheless forged ahead with travel plans to fly to Ft. Lauderdale, Fla., for the Fourth of July holiday weekend to celebrate...
Auto sales could hit below pandemic 2020 levels amid low inventory challenges
Low inventory levels led Cox Automotive analysts to again revise their full-year U.S. 2022 new-vehicle sales forecast downward. At a discussion Tuesday with media, analysts projected 14.4 million sales this year, below the 14.6 million sold in pandemic year 2020. Cox initially forecast 16 million sales for the year before...
U.S. Steel to make $150M investment in Minnesota operations
U.S. Steel plans to invest $150 million in a new Iron Range facility in Minnesota that would make taconite pellets tailored for electric arc steel mills. The Pittsburgh-based company said Tuesday it plans to break ground this fall on the facility, which will be located at one of its two...
2 Seattle startups racing to transform next-gen space travel
The phrase “nuclear energy” conjures images of large steaming towers or Tony Stark’s arc reactor from the iconic “Iron Man” movies. But two Seattle-based startups are designing nuclear technologies small enough to pick up and carry that, thanks in part to buy-in from the Defense Department, they hope will fuel...
iPhone turns 15: How Apple forever changed the way we communicateVideo
It was January 2007 when Apple CEO and co-founder Steve Jobs walked onto a stage at the MacWorld convention and introduced the world to a new kind of phone. It was called an iPhone, and it became available to the public June 29, 2007. Little did anyone know it would...
CVS, Rite Aid put limits on purchase of ‘morning after’ pills after seeing sales spike
CVS Health and Rite Aid are limiting how many so-called “morning after” emergency contraceptive pills a person can buy at one time. Both agencies told NBC News that the limit is being placed because of increased demand. The demand is likely connected to the Supreme Court ruling on Friday that...
‘Silicon Heartland’ boon for Ohio, but families mourn homes
JOHNSTOWN, Ohio — When President Joe Biden applauded a decision by Intel Corp. to build a $20 billion semiconductor operation on “1,000 empty acres of land” in Ohio, it didn’t sit well with Tressie Corsi. The 85-year-old woman has lived on 7 acres of that land since she and her...
Public, private sectors cooperate to try to boost apprenticeship numbers in Pennsylvania
In the years leading up to his graduation from Hampton Township High School in 2019, Nic Michielli discussed his future with district staff. “When I told my high school guidance counselor that I probably wasn’t planning to go to college, the conversation pretty much ended there,” Michielli said. With a...
John Dorfman: In a sour market, these stocks have been sweet
While most stocks have nosedived this year, a few have gained altitude. Many, but by no means all, are energy stocks. And not all of them are expensive, either. Here are five stocks that are bucking the downtrend. Exxon As I write this, the market is down about 20% for...
Frontier, Spirit stocks fall heading into key merger vote
Shares of Frontier Airlines and Spirit Airlines tumbled Monday after their improved merger proposal won a key endorsement just days ahead of a crucial shareholder vote. Frontier CEO Barry Biffle said Monday that he is optimistic Spirit shareholders will approve Frontier’s latest stock-and-cash offer for Spirit when they vote Thursday....
Company buying Trump’s social media app faces subpoenas
NEW YORK — The company planning to buy Donald Trump’s new social media business has disclosed a federal grand jury investigation that it says could impede or even prevent its acquisition of the Truth Social app. Shares of Digital World Acquisition Corp. dropped 10% in morning trading Monday as the...
Russia slips into historic default — what does it really mean?
LONDON — Russia appeared to default on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. Moscow owed $100 million in interest on one bond priced...
Corporate greed blamed for inflation, but economists say it’s not biggest culprit
WASHINGTON — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: on greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of Representatives last month passed on a party-line...
Fix the Hog: Harley, Westinghouse ordered to resolve warranties
WASHINGTON — Federal regulators have accused Harley-Davidson and Westinghouse of imposing illegal warranty terms on customers and ordered them to fix their warranties and ensure that their dealers compete fairly with independent repair-makers. The companies have imposed illegal warranty terms that voided customer warranties if they used anyone other than...
Got a savings goal? Consider forming a savings circle
A breezy January morning made the mid-30 temperatures feel even chillier. But it was an important day for the young man pushing 30 himself . He was about to face his entire family to ask for a loan to seed his new business idea. He had contributed to the family’s...
Allegheny County Airport Authority, company in legal battle over concessions contract
The operator of concessions at Pittsburgh International Airport has accused Allegheny County Airport Authority of using bullying tactics to try to get out of its lease with the company and then, when that didn’t work, illegally terminating the contract. Fraport Pittsburgh filed a lawsuit against the authority in Allegheny County...
Wall Street ends broadly higher after sharp losses last week
NEW YORK — Stocks finished broadly higher on Wall Street Tuesday, clawing back some of the ground they lost in their worst weekly drop since the beginning of the pandemic. The rally to start the holiday-shortened week came as investors look ahead to what Federal Reserve Chair Jerome Powell will...
Elon Musk’s $44 billion Twitter deal gets board endorsement
NEW YORK — Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter...
Kellogg to split into 3; snacks, cereals, plant-based food
Kellogg Co., the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods. Kellogg’s which owns and MorningStar Farms, the plant-based food maker, said Tuesday that the spinoff of the yet-to-be-named cereal and plant-based foods companies should be completed by...
Maryland Apple workers face hurdles after vote to unionize
TOWSON, Md. — The historic vote by employees of a Maryland Apple store to unionize — a first for the technology giant — is a significant step in a lengthy process that labor experts say is heavily stacked against workers in favor of their employers. Apple store employees in a...
Bitcoin drops below $20,000 as crypto selloff quickens
LONDON — The price of bitcoin fell below $20,000 on Saturday for the first time since late 2020, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping by as much as 9% to less than $19,000...
