Business category, Page 256
Apple TV Plus joins streaming wars, has Oprah but no catalog
LOS ANGELES — As the streaming wars near a fever pitch and viewers are targeted from every vantage point — Disney Plus has the Marvel and Star Wars brands! HBO Max counters with “Game of Thrones” and DC superheroes! — Apple TV Plus could be cast as the highly pedigreed...
Twitter pulls back on political ads, but pitfalls await
SAN FRANCISCO — Twitter announced an end Wednesday to political campaign and issue ads on its service, calling it an important step in reducing the flow of election-related misinformation. But some of its users might face an unintended consequence or two. Among those potentially affected could be public-interest nonprofits eager...
S&P 500 hits new high as traders welcome latest Fed rate cut
Stocks closed broadly higher on Wall Street Wednesday, sending the S&P 500 to a record high for the second time this week, as investors welcomed the Federal Reserve’s decision to lower interest rates for the third time this year. The central bank also indicated that it won’t cut rates again...
Purdue Pharma paid CEO $9M in year before bankruptcy
OxyContin maker Purdue Pharma paid its CEO $9 million and its board chairman nearly $4 million in the 12 months before the company’s bankruptcy filing last month, according to recently filed financial documents. Five other board members overseeing the private company were paid a combined $3.7 million over that span....
Fed cuts rates a 3rd time this year but signals likely pause
WASHINGTON — The Federal Reserve cut its benchmark interest rate Wednesday for the third time this year to try to sustain the economic expansion in the face of global threats. But it hinted that it won’t likely cut again this year. The Fed’s move reduces the short-term rate it controls...
Manufacturing jobs fading in Rust Belt. Will it matter in 2020?
TOLEDO, Ohio — President Donald Trump once promised that coal and steel would be the beating heart of a revived U.S. economy — a nostalgic vision that helped carry him to victory three years ago in the industrial Midwest. But a year away from Election Day, that promised renaissance is...
Beverage companies aim to get bottles recycled, not trashed
Every year, an estimated 100 billion plastic bottles are produced in the U.S., the bulk of which come from three of America’s biggest beverage companies: Coca-Cola, Pepsi and Keurig Dr Pepper. The problem? Only one-third of those bottles get recycled; the rest end up in the trash. That bleak trend...
U.S. stocks cap wobbly day of trading with modest losses
Technology companies led stocks lower on Wall Street on Tuesday as a wobbly day of trading ended with modest losses for the market. Health care stocks jumped on stronger-than-expected reports from drugmakers, but losses by internet and media companies held the market in check following a mixed report from Google’s...
Sony shutting down online-cable service PlayStation Vue
Sony is shutting down its pioneering online-cable alternative, PlayStation Vue, citing the high cost of content and the difficulty of reaching deals with networks. It launched Vue in early 2015 as a skinnier, cheaper version of cable or satellite TV delivered via the internet. It was a test case for...
3 major automakers side with Trump in legal fight with California
WASHINGTON — General Motors, Fiat Chrysler, Toyota and 10 smaller automakers are siding with the Trump administration in a lawsuit over whether California has the right to set its own greenhouse gas emissions and fuel economy standards. The companies said Monday they will intervene in a lawsuit filed by the...
More employers offer workers help paying off student loans
Americans collectively owe nearly $1.5 trillion in student loans — more than twice the total a decade ago. It’s a burden that weighs on millions of adults, shaping their life choices and often stunting their financial growth. Now a small but growing number of employers are stepping in to help....
CNX says it’s adjusting to low natural gas prices
CNX Resources continues to adjust to the low-price natural gas market but is generally optimistic about 2020, according to its third quarter earnings call. The Canonsburg-based natural gas exploration and production company said it expects to realize $25 million in savings from streamlining activities in the third quarter, including “reconfiguring”...
Grubhub valuation tumbles as rivals encroach
NEW YORK — Shares in Grubhub plunged 43% on Tuesday after it sharply cut its revenue expectations for the year and warned of intense competition. The steep decline in share price wiped away more than $2.25 billion of the company’s valuation in the public market in midday trading. It is...
Coal giant Murray Energy seeks bankruptcy protection
CHARLESTON, W.Va. — A major U.S. coal mining company is seeking bankruptcy protection, joining a growing list of struggling coal operations as communities switch away from fossil fuel to less-polluting renewable energy or natural gas. Ohio-based Murray Energy filed for Chapter 11 bankruptcy reorganization Tuesday. Several other major coal producers...
U.S. consumer confidence falls for third consecutive month
WASHINGTON — U.S. consumer confidence fell for a third consecutive month in October as optimism about job prospects and business conditions down the road grew weaker. The Conference Board said its consumer confidence index edged down to 125.9 in October, compared with 126.3 in September. Feelings about the present situation...
Horsepower, literally: Finnish horse show runs on manure
HELSINKI — In a glimpse of the future, an entire sports event has been run on horse manure. The world’s governing equestrian body on Monday praised a climate-friendly scheme by a Finnish equestrian event to generate all its electricity needs from horse manure, saying the initiative paves way in cutting...
Take a look inside John Dorfman’s ‘Billion Dollar’ Portfolio
Is there a perfect size for a stock? Perhaps not. Size doesn’t matter — at least, not as much as profitability, growth and valuation. And yet, there is a size to which I am particularly partial. It’s right around $1 billion. To me, that is the dividing line between small-capitalization...
Apple debuts AirPods Pro with noise cancelling, higher priceVideo
ATLANTA — Apple is offering a $250 version of its wireless AirPods Pro earbuds with a new design and noise cancellation feature. AirPods have become one of Apple’s most popular products since it was introduced three years ago. The new design features three sizes of flexible ear tips rather than...
AT&T makes changes in response to activist investor push
NEW YORK — AT&T said it will look for more parts of its business to sell off and add two new board members after pressure from an activist investor. The moves are part of a plan to boost results that also includes paying down debt from its $81 billion Time...
GM workers ratify contract, ending contentious 40-day strike
ROMULUS, Mich. — A contentious 40-day strike that crippled General Motors’ U.S. production came to an end Friday as workers approved a new contract with the company. The four-year deal will now be used as a template in bargaining with crosstown rival Ford Motor Co., the union’s choice for the...
American Express ‘Green Card’ turns 50, gets needed revamp
NEW YORK — For 50 years, the American Express “Green Card” has been everywhere its card members wanted to be. Launched in 1969, the Green Card gave travelers a sense of importance they didn’t feel carrying travelers’ cheques. For many people, it was their first AmEx card. Over time, however,...
Google claims breakthrough in blazingly fast computing
SAN FRANCISCO — Google announced Wednesday it has achieved a breakthrough in quantum computing, saying it has developed an experimental processor that took just minutes to complete a calculation that would take the world’s best supercomputer thousands of years. The feat could open the door someday to machines so blazingly...
Snyder of Berlin sold to competitor Utz
Snyder of Berlin, a well-known Somerset County producer of potato chips, pretzels, popcorn and other snacks, has been sold to Utz Quality Foods, its York County-based competitor, the company said Wednesday. Snyder of Berlin had been owned by food conglomerate Conagra Brands Inc. Utz bills itself as the largest family-managed,...
Amazon breaks ground on Findlay warehouse that will create 800 jobs in Pittsburgh regionVideo
Eight hundred jobs that each pay at least $15 per hour will be coming to Findlay thanks to Amazon, which broke ground Wednesday on a new fulfillment center that is expected to be open by the 2020 holiday shopping season. Construction has already started at the site, adjacent to the...
Nike CEO Mark Parker to step down in JanuaryVideo
NEW YORK — Nike said Tuesday that its longtime CEO Mark Parker is stepping down early next year. He will be replaced by board member John Donahoe, who formerly ran e-commerce company eBay. Parker will become executive chairman of the board. Nike’s sales have been on the rise as the...
