Business category, Page 278
U.S. trade gap falls 15 percent to $51.1 billion in January
WASHINGTON — The U.S. trade deficit tumbled nearly 15 percent in January as imports fell and exports rose. Shipments of American goods to China skidded to the lowest level in more than eight years as the world’s two biggest economies remained locked in a trade war. The Commerce Department said...
Newspapers largely shun Apple’s news subscription service
NEW YORK — Many newspaper publishers — after suffering for a decade from job losses, shrinking ad dollars and circulation declines — are so far shunning Apple’s new “Netflix for news” subscription. For $10 a month, Apple News Plus offers articles from more than 300 magazines, but only three newspapers....
5 reasons why you’ll want Apple’s radical new credit cardVideo
The company that asked you to “Think Different” about computers and phones now wants to change the way you shop. Apple on Monday announced expansions to services such as TV and gaming but one of the biggest game changers may be its upcoming credit card. You can already buy things...
5 questions Congress will have for Boeing, FAA this week
The relationship between Boeing and the Federal Aviation Administration, which has set the global standard in aviation safety for decades, will come under unprecedented scrutiny this week after two deadly airline crashes. Both accidents involved a Boeing jet green-lighted by the U.S. regulator, which relied heavily on safety assessments made...
Dick’s Sporting Goods closing Century III Mall store
A sign at the declining Century III Mall in West Mifflin says the Dick’s Sporting Goods store there is closing on Saturday. The notice follows a decision by a bankruptcy judge earlier this month to reject the Dick’s lease at the mall, where the sporting goods retailer has had an...
Apple takes on Netflix, will debut streaming TV service this fall
CUPERTINO, California — Apple says its new subscription TV service will be available this fall. But the company isn’t saying yet how much the service will cost or when exactly it will launch. Apple announced the service, Apple TV Plus, at an event Monday in Cupertino, California, where it also...
Kraft Heinz can’t count on ketchup to save it from the future of food
What went wrong at Kraft Heinz Co.? Years before last month’s jaw-dropping $15.4 billion writedown, the company had been on a mission to make over some of its quintessential products, removing maligned ingredients from its mac and cheese and hot dogs to better compete with newer, more natural upstarts. The...
U.S. average mortgage rates fall; 30-year at 4.28 percent
WASHINGTON — U.S. long-term mortgage rates fell this week, giving an incentive to potential buyers as the spring homebuying season opens. Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage declined to 4.28 percent from 4.31 percent the previous week. Mortgage rates have fallen substantially since...
Levi Strauss readies for prime time in the public markets
NEW YORK — Levi Strauss & Co., which gave America its first pair of blue jeans, is public again, for the second time. The 166-year-old company, which owns the Dockers and Denizen brands, previously went public in 1971, but the namesake founder’s descendants took it private again in 1985. The...
In IPO filing, Lyft outlines reasons ride-sharing could fail
Lyft is due to be the first giant tech startup to list its shares on the stock market this year — and it has laid out all the roadblocks that could derail not only its own business, but the ride-sharing industry itself. From dockless scooters and bicycles to self-driving cars,...
TRONIX3D opening WCCC partnership March 28
TRONIX3D will hold a grand opening at 4:30 p.m. March 28 for its new partnership with Westmoreland County Community College’s Advanced Technology Center. The ribbon-cutting ceremony will be held at the Advanced Technology Center, 1001 Technology Drive, Suite 1029, Mt. Pleasant, in conjunction with the Westmoreland County Chamber of Commerce....
Fed news sends bond yields sharply lower; stocks mixed
Banks led U.S. stocks mostly lower Wednesday after a brief rally sparked by the Federal Reserve’s latest policy update faded. The real action centered in the bond market, where prices rose sharply, pulling Treasury yields down to the lowest levels they’ve seen in more than a year. The central bank...
Europe fines Google $1.7B in antitrust case
BRUSSELS — Europe’s antitrust regulators slapped Google with a big fine Wednesday for the third time in less than two years, ordering the tech giant to pay 1.49 billion euros ($1.7 billion) for freezing out rivals in the online advertising business. The ruling brings to nearly $10 billion the fines...
U.S. judge blocks oil, gas drilling over climate change
BILLINGS, Mont. — A judge has blocked oil and gas drilling on almost 500 square miles in Wyoming and says the government must consider the cumulative climate change impact of leasing broad swaths of U.S. public lands for oil and gas exploration. The order marks the latest in a string...
Federal Reserve foresees no interest rate hikes in 2019
WASHINGTON — The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes in 2019, dramatically underscoring its plan to be “patient” about any further increases. The Fed said it was keeping its benchmark rate — which can influence everything from mortgages to credit cards to...
Ford shifts gears, boosts new jobs from 850 to 900
DETROIT — Ford Motor Co. is repackaging a previously announced $900 million manufacturing investment in the Detroit area, boosting the number of jobs added from 850 to 900. Most of the new workers will build a new generation of electric vehicle at Ford’s existing factory in Flat Rock, Mich., south...
What Disney gets as its $71.3B buy of Fox assets closes
It’s finally complete. Disney closed its $71 billion acquisition of Fox’s entertainment assets on Wednesday, more than a year after the mega merger was proposed . Disney gets far ranging properties ranging from Fox’s film studios, including “Avatar” and X-Men, to its TV productions such as “The Simpsons” and networks...
Disney closes $71B deal for Fox entertainment assets
Disney has closed its $71 billion acquisition of Fox’s entertainment business, putting “Cinderella,” ”The Simpsons,” ”Star Wars” and “Dr. Strange” under one corporate roof. The deal is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus,...
U.S. negotiators see China pushing back on trade vows
WASHINGTON — Some U.S. negotiators are concerned that China is pushing back against American demands in trade talks as progress slows toward a deal that could give President Trump a boost for his 2020 re-election bid, according to people familiar with the talks. Chinese officials have shifted their stance with...
Facebook to overhaul ad targeting to prevent discrimination
SAN FRANCISCO — Facebook will overhaul its ad-targeting systems to prevent discrimination in housing , credit and employment ads as part of a legal settlement. For the social network, that’s one major legal problem down, several to go, including government investigations in the U.S. and Europe over its data and...
U.S. stocks move higher as market extends winning streak
U.S. stocks moved modestly higher in afternoon trading Tuesday as the market extended a winning streak well into a second week. Health care stocks, technology companies and retailers notched some of the biggest gains. DaVita led the health sector higher, climbing 3.8 percent. Cigna added 3.1 percent. Chipmakers also posted...
Loss of old Myspace artifacts highlights impermanence of the Web
The most surprising thing people may learn about Myspace this week is that it still exists. But the old social network’s accidental purge of 12 years’ worth of its users’ music uploads - that’s an estimated 50 million songs - is probably a close second. The tremendous loss of digital...
Ford shifting 550 jobs to boost SUV production in Kentucky
Ford Motor Co. said Tuesday it will shift 550 jobs to its Kentucky Truck Plant to boost production of its Expedition and Lincoln Navigator vehicles to meet growing demand for its large SUVs. Growing sales for the Expedition and Navigator are driving a 20 percent production boost at the Louisville...
Facebook says no one flagged New Zealand mosque shooting livestream
LONDON — Facebook says none of the 200 or so people who watched live video of the New Zealand mosque shooting flagged it to moderators, underlining the challenge tech companies face in policing violent or disturbing content in real time. The social media giant released new details about its response...
The Incline website purchased; new director named
The Incline news website has a new owner, just two weeks after it announced it was for sale. The Pittsburgh-based website announced on its social media platforms Tuesday it was bought by media company WhereBy.US. The company describes itself as one that builds “local media brands for growing cities, and...
