Business category, Page 187
Stocks regain much of the ground they lost a day earlierVideo
Stocks jumped Tuesday on Wall Street, making up much of the ground they lost a day earlier when worries flared about spreading cases of the more contagious variant of covid-19. The comeback was the latest rebound following a pullback as investors continue to try and assess how badly rising infections...
New cybersecurity order issued for U.S. pipeline operators
WASHINGTON — The Department of Homeland Security on Tuesday announced new requirements for U.S. pipeline operators to bolster cybersecurity following a May ransomware attack that disrupted gas delivery across the East Coast. In a statement, DHS said it would require operators of federally designated critical pipelines to implement “specific mitigation...
Amazon to end covid testing at warehouses this month
Amazon will stop testing workers for covid-19 at its warehouses at the end of this month, citing the availability of vaccines and free testing. The company began testing warehouse workers last year when tests were more difficult to secure. Warehouse workers, who were considered essential, packed and shipped orders throughout...
Stocks skid, yields sink as coronavirus fears shake global markets
NEW YORK — Resurgent pandemic worries knocked stocks lower from Wall Street to Tokyo on Monday, fueled by fears that faster-spreading variants of the virus may upend the economy’s strong recovery. The S&P 500 fell 68.67, or 1.6%, to 4,258.49, after setting a record just a week earlier. In another...
AT&T inks 10-year wireless partnership with Dish Network worth at least $5 billion
Dish Network has entered into a “transformative, long-term strategic network services agreement” with Dallas-based AT&T making it the primary network partner for Dish’s mobile customers, according to a regulatory filing. As part of the agreement, Dish agreed to pay AT&T at least $5 billion for access to its wireless network...
Investors dump stocks, buy bonds as virus fears flare again
Resurgent pandemic worries are knocking stocks lower from Wall Street to Sydney on Monday, fueled by fears that faster-spreading variants of the virus may upend the economy’s strong recovery. The S&P 500 was 2% lower in afternoon trading, after setting a record just a week earlier. In another sign of...
Ben & Jerry’s to stop sales in West Bank, east Jerusalem
Ben & Jerry’s said Monday it was going to stop selling its ice cream in the Israeli-occupied West Bank and contested east Jerusalem, saying the sales in the territories sought by the Palestinians are “inconsistent with our values.” The announcement was one of the strongest and highest-profile rebukes by a...
Zoom buying Five9 in $14.7B all-stock transaction
Zoom, the videoconferencing company whose growth was supercharged by the pandemic over the past year, will buy the cloud call center company Five9 in an all-stock deal valued at about $14.7 billion. That is far greater than Zoom’s market valuation a little over two years ago when it went public...
With workers in high demand, Western Pa. teens are filling the void
As businesses have taken “closed indefinitely” signs out of their windows and reopened their doors, the landscape of a post-pandemic workforce is changing and depending on an unexpected demographic — teens. Teenagers have become one of the largest segments of the working population. The Associated Press reported that, in May,...
Report: Severe drop in Wyoming, U.S. coal production in 2020
CASPER, Wyo. — A new U.S. report says coal production in Wyoming, the nation’s top coal mining state, fell by 21% in 2020 from the previous year, caused in part by reduced demand during the coronavirus pandemic, low natural gas prices and a longstanding move away from fossil fuels to...
Pennsylvania jobless rate down slightly, payrolls up in June
HARRISBURG — Pennsylvania’s unemployment rate and labor force shrank slightly in June as payrolls crept up, according to state figures released Friday. Pennsylvania’s unemployment rate dropped one-tenth of a percentage point to 6.9% from May’s adjusted rate, the state Department of Labor and Industry said. May’s initial rate had been...
Trump showerhead rule to increase water flow being dropped
WASHINGTON — So much for Donald Trump’s quest for “perfect” hair. President Joe Biden’s administration is reversing a Trump-era rule approved after the former president complained he wasn’t getting wet enough because of limits on water flow from showerheads. Now, with a new president in office, the Energy Department is...
Former industrial space in Etna to become ‘tech flex’ hub 51 Bridge Street
A former steel pipe manufacturing space in Etna is set to become a “tech flex” hub called 51 Bridge Street, the developer AM Group announced Thursday. “The borough of Etna is rooted with a strong history during Pittsburgh’s steel production and 51 Bridge Street will revitalize and transform it into...
Why are prices for groceries, gas, and used cars going up? Experts explain
A few years ago, Yvonne Ferguson-Hardin had no trouble finding a used car for her oldest daughter. This year, car shopping for her younger daughter has been harder. And stranger. One online seller never showed up to a meeting. Another was actually selling toy cars instead of real ones. Then...
Netflix plans to offer video games in push beyond films, TV
Netflix Inc., marking its first big move beyond TV shows and films, is planning an expansion into video games and has hired a former Electronic Arts Inc. and Facebook Inc. executive to lead the effort. Mike Verdu will join Netflix as vice president of game development, reporting to Chief Operating...
Johnson & Johnson recalling sunscreens because of benzene traces
Johnson & Johnson said Wednesday that it is recalling five of its sunscreen products after some samples were found to contain low levels of benzene, a chemical that can cause cancer with repeated exposure. The affected products, packaged in aerosol cans, are Aveeno Protect + Refresh aerosol sunscreen, and four...
Stocks end a wobbly day mixed and just shy of record highs
Wall Street capped a wobbly day of trading with mixed results Wednesday, as a rally in technology stocks was kept in check by a slide in banks and energy companies. The S&P 500 eked out a 0.1% gain after recovering from an early stumble and then losing much of its...
R.K. Mellon Foundation to invest $1M in companies’ best ‘social-impact’ ideas
The Richard King Mellon Foundation is looking to invest $1 million in three companies whose members can pitch the best ideas for making a social impact in areas like economic development, economic mobility, health and well-being and environmental conservation. The social-impact investment competition will ask for-profit companies to submit ideas...
Powell says inflation will be ‘elevated’ in coming months
WASHINGTON — Federal Reserve Chair Jerome Powell says that inflation “will likely remain elevated in coming months” before “moderating,” an apparent acknowledgement that price gains have been larger and more persistent than many economists forecast. In written testimony to be delivered Wednesday at noon before the House Financial Services Committee,...
Stocks ease below recent records as earnings reports roll in
Stocks gave up early gains and closed broadly lower Tuesday as investors weighed the latest quarterly earnings reports from big U.S. companies and new data pointing to rising inflation. The S&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground. Banks, industrial stocks and companies...
Boeing cuts production on the 787 to address flaw
CHICAGO — Boeing will cut production of its large 787 aircraft after a structural flaw was discovered in some undelivered planes. The production rate for the 787, which it calls the Dreamliner, will fall below five per month and the Chicago company said Tuesday that it now anticipates that it...
Google fined $592 million in dispute with French publishers
PARIS — France’s competition regulator fined Google $592 million on Tuesday for failing to negotiate in good faith with French publishers in a dispute over payments for their news. The agency threatened fines of around another $1 million per day if Google doesn’t come up with proposals within two months...
John Dorfman: The Perfect 10 Portfolio returned 69% last year
To call a beautiful woman a “Perfect 10” these days would be considered chauvinistic and outdated. But my Perfect 10 Portfolio is still looking good. This is a hypothetical portfolio of stocks, each of which sells for 10 times the company’s earnings per share. Historically, most stocks sell for about...
Stock indexes notch more records ahead of earnings reports
Banks led stocks to modest gains Monday on Wall Street, nudging the major stock indexes to more record highs ahead of a busy week of corporate earnings reports from big U.S. companies. The S&P 500 gained 0.3% after bouncing back from an early stumble. The benchmark index, which has notched...
EU puts digital levy plans on hold in face of U.S. criticism
BRUSSELS — In a gesture of goodwill to the United States, the European Union on Monday put work on plans for a digital tax levy on hold for the moment to concentrate on finalizing the historic tax decision endorsed by the Group of 20 nations over the weekend. In the...
