Business category, Page 189
Construction spending fell 0.3% in May, housing slowing
WASHINGTON — Construction spending fell 0.3% in May. Growth in housing, the economy’s standout performer, slowed while activity in areas most directly impacted by the pandemic showed further weakness. The Commerce Department reported Thursday that the May decline followed a slight 0.1% rise in April and left overall construction spending...
U.S. jobless claims fall to 364,000, a new pandemic low
WASHINGTON — The number of Americans applying for unemployment aid fell again last week to the lowest level since the pandemic struck last year, further evidence that the job market and the broader economy are rebounding rapidly from the coronavirus recession. The Labor Department reported Thursday that jobless claims dropped...
Council, business leaders say Pittsburgh Downtown Partnership’s work is needed amid pandemic recovery
The shutdown caused by the coronavirus pandemic proved the importance of the Pittsburgh Downtown Partnership to the city’s business district, its members and administrators told city council members Tuesday. “Everything came crashing down,” said Casey Henderlong, describing how it hurt businesses like the Richard Deshantz Restaurant Group, where Henderlong is...
U.S. agency orders automated vehicle makers to report crashes
DETROIT — The U.S. government’s highway safety agency has ordered automakers to report any crashes involving fully autonomous vehicles or partially automated driver assist systems. The move Tuesday by the National Highway Traffic Safety Administration indicates the agency is taking a tougher stance on automated vehicle safety than in the...
United orders 270 jets to replace old ones, plan for growth
United Airlines is making one of the largest orders ever for commercial airplanes in an aggressive bet that air travel will rebound strongly from the pandemic. United said Tuesday that it will buy 200 Boeing Max jets and 70 planes from Europe’s Airbus so that it can replace many of...
GM recalls old SUVs; suspension problem can affect steering
DETROIT — General Motors is recalling more than 380,000 older SUVs in the U.S., many for a second time, to fix a suspension problem that can cause them to sway at highway speeds. GM decided on the recall after the U.S. National Highway Traffic Safety Administration opened an investigation last...
John Dorfman: What Edson Gould would say about stocks, if he were alive
People who are fretting about the Federal Reserve’s latest comments probably never heard of Edson Gould. Gould, a famed stock analyst from the 1940s into the 1970s, tried to devise an answer to investors’ perennial question: When should you take defensive measures if the Fed is tightening credit conditions? He...
Judge dismisses government antitrust lawsuits against Facebook
WASHINGTON — A federal judge on Monday dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and a coalition of state attorneys general, dealing a significant blow to attempts by regulators to rein in tech giants. U.S. District Judge James Boasberg ruled Monday that the lawsuits were “legally...
Tech gains nudge S&P 500, Nasdaq further into record heights
NEW YORK — Strength for tech stocks nudged U.S. indexes a bit further into record heights Monday, more than making up for losses across much of the rest of Wall Street. The S&P 500 rose 9.91 points, or 0.2%, to 4,290.61 after drifting between small gains and losses for much...
Appraising the situation, Michelle Bradley went to great lengths to deal with pandemic
Real estate appraiser Michelle Czekalski Bradley went above and beyond during the pandemic in her quest to follow covid-related safety protocols. Bradley, 54, created her own custom covid prevention outfit to wear while appraising properties. “I scoured the internet every night for gloves, booties, rain ponchos and anything that would...
Alle-Kiski Valley restaurateurs contend with new challenges as they struggle to survive pandemic
Restaurants were hit hard by the pandemic and restrictions meant to curb the spread of covid-19 — and, for many restaurateurs, the struggles aren’t over yet. Navigating a pandemic — and the related rules and restrictions — has been a challenge April Platt never imagined she’d have to overcome. Platt...
Overcoming challenges, Alle-Kiski Valley businesses continue to recover
Alle-Kiski Valley businesses are beginning to emerge from the incredible challenges caused by last year’s covid-19 pandemic. Many small-business owners said they’ve experienced a significant loss of income, stress and hardship during the shutdown and subsequent covid restrictions placed on their businesses. A 2020 U.S. Census Bureau Small Business Survey...
Westmoreland County restaurants lean on combination of self, government helpVideo
After eight years of co-owning and operating J&M Export Deli, Michelle Gilson feels like it’s her first year all over again. Gilson, with co-owner Jennifer Minnick, was forced to make several cost-saving changes to the Export-based deli over the past year — like reducing the staff by three employees and...
Hiring still a problem across most industries
Despite inventive ways to lure new job candidates, owners and managers in many industries have been striking out for months on filling open spots. There was 20 openings in late May at Charley Family Shop ‘n Save stores in Murrysville, Hempfield and Greensburg. Co-owner Tom Charley said the grocer started...
Pandemic business survival a question of help, perseverance
Some relied on government funding to get through. In other cases, employees pitched in, volunteering their time instead of taking a paycheck. Others switched gears entirely, revamping their business plan. Whatever the means, local businesses found a way to survive months fraught with government-mandated shutdowns, capacity restrictions and headaches brought...
Widow says antivirus software pioneer John McAfee was not suicidal
SANT ESTEVE SESROVIRES, Spain — The widow of John McAfee, the British-American tycoon who died in a Spanish prison this week while awaiting extradition to the United States, said Friday that her husband was not suicidal when she last spoke to him hours before he was found dead. Authorities in...
Stocks add to weekly gains, helped by infrastructure dealVideo
Stocks closed higher Thursday on Wall Street as traders were encouraged to see a bipartisan deal on infrastructure spending as well as some positive reports on the economy. The S&P 500 marked another record high, beating the peak it set early last week. Stocks added to their gains in the...
Boom in Native American oil complicates Biden climate push
NEW TOWN, N.D. — On oil well pads carved from the wheat fields around Lake Sakakawea, hundreds of pump jacks slowly bob to extract 100 million barrels of crude annually from a reservation shared by three Native American tribes. About half their 16,000 members live on the Fort Berthold Indian...
Microsoft debuts Windows 11, first major update in 6 years
Microsoft has unveiled the next generation of its Windows software, called Windows 11, that has a new Start Menu and other features. The newest version of Microsoft’s flagship operating system announced Thursday will be a successor to today’s Windows 10, which the company introduced in 2015. In a challenge to...
BuzzFeed to become a publicly traded company
NEW YORK — Digital media company BuzzFeed is setting its sights on growth. It plans to become a publicly traded company with an implied value of $1.5 billion through a merger with a special purpose acquisition company. BuzzFeed hopes the move will put it in a better position to capture...
Stocks end listless day on Wall Street mixed as calm returns
A listless day on Wall Street ended with indexes mixed on Wednesday, as nervousness continues to wash out of the market following last week’s jolt by the Federal Reserve. The S&P 500 slipped 4.60 points, or 0.1%, to 4,241.84 after earlier meandering between very modest gains and losses. It’s 0.3%...
Warren Buffett resigns from Gates Foundation
NEW YORK — Warren Buffett resigned Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure as it deals with the divorce of its two founders. The announcement from Buffett comes weeks after Bill...
As passengers return to air travel, bad behavior skyrockets
Air travel can be difficult in the best of times, with cramped planes, screaming babies, flight delays and short tempers. Throw in a pandemic, and the anxiety level can rise quickly. That has led to confrontations with flight attendants and other unruly behavior, including occasional fights that get captured and...
Wall Street rises, pushing S&P 500 back near record high
Stocks rose Tuesday on Wall Street, nudging the S&P 500 toward its record high, as the head of the Federal Reserve said again that inflation looks to be only a temporary problem for the economy and markets. The S&P 500 climbed 21.65, or 0.5%, to 4,246.44 after Fed Chair Jerome...
John Dorfman: Gentex, Logitech show high profit, low debt
Your neighbor is playing stock-market roulette by buying the stocks he hears about on Reddit’s “Wall Street Bets” forum. You know he may double his money – or lose half of it – in a matter of days. But perhaps frenzied speculation isn’t your style. Is there a sounder way?...
