Business category, Page 74

The sticker prices for Ford’s F-150 Lightning electric pickup trucks are being lowered by thousands of dollars across the board, the company said Monday, due to increased plant capacity, falling costs for battery raw materials and internal efforts to scale production by the Detroit automaker. The price cuts across the...

Allegheny College didn’t have to look far to find its 23rd president. Ron Cole, 58, already had been named interim leader and then president with a short-term contract after Hilary Link announced her departure in September. Prior to that, he had been Allegheny’s provost since 2015 and a geology professor...

The sticker price on Ford’s F-150 Lightning electric pickup is being lowered by thousands of dollars due to increased plant capacity, falling costs for battery raw materials and internal efforts to scale production by the Detroit automaker. Ford Motor Co. said Monday that final upgrades at its Rouge Electric Vehicle...

NEW YORK — Microsoft has signed an agreement with Sony to keep the Call of Duty video game series on the PlayStation console after the tech giant acquires video game maker Activision Blizzard. The announcement was made Sunday in a Twitter post by Phil Spencer, who heads up Microsoft’s Xbox...

NEW YORK — The head of the Teamsters said Sunday that he has asked the White House not to intervene if unionized UPS workers end up going on strike. Negotiations between the delivery company and the union representing 340,000 of its workers have been at a standstill for more than...

NEW YORK — Even during a year of sobering economic news for media companies, the layoffs of three Pulitzer Prize-winning editorial cartoonists on a single day hit like a gut punch. The firings of the cartoonists employed by the McClatchy newspaper chain last week were a stark reminder of how...

Elon Musk says Twitter is still losing cash because advertising has dropped by half. In a reply to a tweet offering business advice, Musk tweeted Saturday, “We’re still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.” “Need to reach positive cash flow...

The U.S. economy added 209,000 jobs in June. While it was a smaller increase than expected, it still lowered the unemployment rate to a solid 3.6%. For the Pittsburgh region, whose figures lag behind the national data, the unemployment rate dropped one-tenth of a percentage point to a 47-year-record low...

ATLANTIC CITY, N.J. — New Jersey’s casinos, horse tracks that take sports bets, and the online partners of both those types of gambling won more than $457 million in June, an increase of nearly 14% from a year earlier. But the key metric for Atlantic City’s nine casinos — the...

WASHINGTON — The IRS is showcasing its new capability to aggressively audit high-income tax dodgers as it makes the case for sustained funding and tries to avert budget cuts sought by Republicans who want to gut the agency. IRS leaders said they collected $38 million in delinquent taxes from more...

Let’s postulate that the goal in stock investing is to buy low and sell high. If so, it makes sense to look at stocks that have been banged up, searching for ones that have recovery potential. That’s the goal of my quarterly Casualty List. Today, I’ll highlight two large energy...

Some workers at the Penn Center East Starbucks in Wilkins Township are petitioning the National Labor Relations Board to hold a vote to decertify the union representing employees at the coffee shop. Penn Center East joined Starbucks Workers United last year. The employee who submitted the petition, Elizabeth Gulliford, is...

The Federal Trade Commission has opened an investigation into OpenAI Inc., questioning whether its popular ChatGPT conversational AI bot puts consumers’ reputations and data at risk, according to a person familiar with the matter. The probe into the Microsoft Corp.-backed startup marks the first official inquiry into a technology that...

ATLANTA — Kia Corp. will invest $200 million in its Georgia factory to begin producing an electric-powered SUV, the company announced Wednesday. The South Korean company said it would hire an additional 200 workers to begin producing its large EV9 vehicle in West Point by early 2024. The company said...

If you can’t beat them, join them. In a major reversal, Domino’s Pizza said Wednesday it’s partnering with Uber Eats to make deliveries in the U.S. and 27 international markets. While franchisees in a handful of international markets like the Netherlands have been working with third-party apps for years, Domino’s...

Carnegie Mellon University is looking to build a new robotics center at the Hazelwood Green site in Pittsburgh. Plans for the robotics center were presented to Pittsburgh’s Planning Commission on Tuesday. The center would include a 150,000-square-foot research building with a two-story enclosure for testing on robots and drones and...

WASHINGTON — After two years of painfully high prices, inflation in the U.S. has reached its lowest point in more than two years — 3% in June compared with 12 months earlier — a sign that the Federal Reserve’s interest rate hikes have steadily slowed price increases across the economy....

WASHINGTON — Three large tax preparation firms sent “extraordinarily sensitive” information on tens of millions of taxpayers to Facebook parent company Meta over the course of at least two years, a group of congressional Democrats reported on Wednesday. They say some of that data was then used by Meta to...

NEW YORK — Bank of America will reimburse customers more than $100 million and pay $150 million in fines for “double-dipping” on overdraft fees, withholding reward bonuses on credit cards and opening accounts without customer consent. Combined, it is one of the highest financial penalties in years against Bank of...

MyPillow is auctioning off hundreds of pieces of equipment and subleasing manufacturing space after several shopping networks and major retailers took the company’s products off shelves. The Minnesota-based manufacturer recently listed more than 850 “surplus equipment” items on the online auction site K-Bid. Sewing machines, industrial fabric spreaders, forklifts and...

A federal judge has handed Microsoft a major victory by declining to block its looming $69 billion takeover of video game company Activision Blizzard. Regulators are seeking to ax the deal because they say it will hurt competition. U.S. District Judge Jacqueline Scott Corley said in a ruling that the...

Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent. Bank of America will pay $90 million in penalties to its organization and $60 million in penalties to the OCC, the Consumer Financial Protection...

NEW YORK — Amazon Prime Day is here. And, once again, experts are warning consumers of scams. Scams targeting online shoppers — often by impersonating companies like Amazon and other major retailers — are nothing new. But phishing attempts increase amid busy spending seen during significant sales events — from...