Business category, Page 211
U.S. stocks slip from records as wait continues for Congress
NEW YORK — U.S. stock indexes pulled back from their record levels Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses. The S&P 500 fell 0.4%, a day after it and other major indexes returned to...
Pennsylvania’s unemployment rate declines to 6.6% in November
WILKES-BARRE — Pennsylvania’s unemployment rate was down 0.8 points over the month to 6.6% in November — falling below the U.S. rate of 6.7% in November for the first time since May 2015. The commonwealth’s unemployment rate was 2 points above its November 2019 level while the national rate was...
Robinhood agrees to pay $65 million to settle SEC charges
Robinhood Financial agreed to pay $65 million to settle government charges that it failed to disclose the full details of its dealings with high-speed traders and didn’t get the best prices for customers trading on its app, the Securities and Exchange Commission said Thursday. Robinhood and other retail brokerage firms...
38 states, including Pennsylvania, file anti-trust lawsuit against Google
DENVER — A group of 38 states filed an anti-trust lawsuit against Google on Thursday, alleging that the search giant has an illegal monopoly over the online search market that hurts consumers and advertisers. The lawsuit, announced by Colorado Attorney General Phil Weiser, was filed in federal court in Washington,...
U.S. jobless claims rise to 885,000 amid resurgence of virus
WASHINGTON — The number of Americans applying for unemployment benefits rose again last week to 885,000 as a resurgence of coronavirus cases threatens the economy’s recovery from its springtime collapse. The Labor Department said Thursday that the number of applications increased from 862,000 the previous week. It showed that nine...
Texas AG announces multistate lawsuit against Google
DALLAS — Texas Attorney General Ken Paxton on Wednesday announced a multistate lawsuit against Google, accusing the search giant of “anti-competitive conduct” in the online advertising industry. Paxton said Google is using its “monopolistic power” to control pricing of online advertisements, fixing the market in its favor and eliminating competition....
East Huntingdon 3D printing company gets high-tech upgrade through Army partnership
A small 3D printing company in East Huntingdon got some high-tech upgrades this year thanks to the U.S. Army. Tronix3D equipped its machines with cloud-connected sensors, allowing the company to collect and share precise data about its manufacturing processes. The company was one of the first to test the new...
Bitcoin surges past $20,000, erasing 3 years of deep losses
The price of bitcoin rose above $20,000 for the first time Wednesday, as the speculative digital currency topped its previous peak reached shortly after it became tradable on Wall Street three years ago this month. Like other instruments used to store value in times of uncertainty, bitcoin has benefited from...
Fed keeps rate near zero but sees brighter economy in 2021
The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes “substantial” progress — a step intended to reassure financial markets and keep long-term borrowing rates low indefinitely. The Fed also reiterated after its latest policy meeting that expects keep its short-term benchmark interest rate...
S&P 500 nears record following stimulus progress, Fed moves
NEW YORK — The S&P 500 ticked up to the edge of its record Wednesday after the Federal Reserve pledged to keep buying bonds until the economy makes substantial progress from its virus-wracked state. In a mixed and muted day of trading, the S&P 500 rose 6.55 points, or 0.2%,...
Retail sales fell 1.1% in November, biggest drop in 7 months
NEW YORK — Retail sales fell 1.1% in November, the biggest drop in seven months, and a sign Americans held back on spending during the start of the holiday shopping season. The U.S. Commerce Department also revised October’s number, saying on Wednesday that retail sales actually fell 0.1% that month,...
How to spot fake shopping sites and avoid being scammed
NEW YORK — Ben Black bought what he thought was a well-priced drone online. But the drone never showed up, the site stopped responding to his emails and he never got his $100 back. He was scammed. “I’m I got caught in it,” says Black, who lives in Westminster,...
Stocks climb on Wall Street, breaking a 4-day losing streak
NEW YORK — Stocks notched broad gains Tuesday on Wall Street as renewed optimism that Washington will deliver more aid to the struggling economy put investors in a buying mood. The S&P 500 climbed 1.3%, snapping a four-day losing streak. Technology companies powered much of the rally, which helped push...
Landmark Unity farmhouse opens as home furnishings storeVideo
A landmark of Westmoreland County’s farming tradition is entering a new chapter as a home furnishings store. Just in time for Christmas shopping and, unfortunately, new pandemic-related restrictions on retailers, Frye Farm Place had a soft opening last week on Frye Farm Road in Unity. Operated by Unity residents Dave...
Trib Total Media announces $1 million Shop Local Marketing Grant program
It’s the season of giving, and Trib Total Media wants to show its gratitude to locally owned businesses. The Trib announced Monday it will give new matching grants to local small businesses recovering from the covid-19 pandemic and ensuing economic downturn. With the Shop Local Marketing Grant 2021, Trib Total...
John Dorfman: Can the Bunny come roaring back?
Perhaps you’ve seen the Energizer Bunny in a battery commercial. It is “still going” long after you’d expect it to fade. That bunny is the namesake for my Bunny Portfolio, a hypothetical stock portfolio I created in 1999. These are stocks that have shown rapid earnings growth (25% or better)...
U.S. stocks end mostly lower after an early rally evaporates
Stocks ended mostly lower on Wall Street Monday after an early rally evaporated. In the U.S., investors are waiting to see if Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic, while in Europe talks continue on trying to...
Domino’s announces $9.6 million for year-end employee bonuses
Domino’s Pizza has announced that it will pay bonuses this month to more than 11,500 company-owned store and supply chain hourly team members and drivers with bonuses totaling more than $9.6 million. Employees will receive a bonus of up to $1,200. Domino’s said it previously had “paid a special bonus...
Inflation still a no-show, US wholesale prices up just 0.1%
U.S. wholesale prices edged up just 0.1% in November with the economic disruption from the pandemic continuing to suppress demand and keeping inflation at extremely low levels. The increase in the producer price index, which measures inflation pressures before they reach the consumer, followed bigger gains of 0.3% in October...
Stocks extend losses as virus aid languishes in Congress
NEW YORK — U.S. stocks fell in afternoon trading Friday as prospects for another aid package from Washington faded while a surge in virus cases threatens to inflict more damage on an already battered economy. Investors have been hoping for another financial lifeline to help cushion the latest blow from...
Airbnb shares more than double in price in long-awaited IPO
Airbnb proved its resilience in a year that has upended global travel. Now it needs to prove to investors that it sees more growth ahead. The San Francisco-based home sharing company made a triumphant debut on the public market Thursday, with its shares more than doubling in price to open...
Amazon plans facility in old Sears Outlet in Lawrenceville
A former warehouse that until July had been a Sears Outlet in Pittsburgh’s Lawrenceville neighborhood is poised to become the latest local “last mile” facility for Amazon deliveries. The site, at 27 51st St., was initially being developed by Spear Street Capital to lure a tech-based tenant, according to Lauren...
Stock indexes end mixed as damage to the economy piles upVideo
U.S. stock indexes closed mostly lower Thursday following more evidence that the pandemic is tightening its grip on the economy while Congress remains in a stalemate over how to do something about it. The S&P 500 slipped 0.1% after flipping between gains and losses in the early going. The index...
U.S. jobless claims jump to 853,000 amid resurgence of virus
WASHINGTON — The number of people applying for unemployment aid jumped last week to 853,000, the most since September, evidence that companies are cutting more jobs as new virus cases spiral higher. The Labor Department said Thursday that the number of applications increased from 716,000 the previous week. Before the...
GM’s Cruise to deploy fully driverless cars in San Francisco
SAN RAMON, Calif. — General Motors’ self-driving car company is sending vehicles without anybody behind the wheel in San Francisco as it navigates its way toward launching a robotic taxi service that would compete against Uber and Lyft in the hometown of the leading ride-hailing services. The move announced Wednesday...
