Business category, Page 13
Federal Reserve likely to defy Trump, keep rates unchanged this week
WASHINGTON — The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs. After causing a sharp drop in financial markets two weeks ago by saying he could fire Fed...
Warren Buffett to remain chairman at Berkshire Hathaway when Abel takes over as CEO in 2026
Billionaire Warren Buffett will remain chairman of Berkshire Hathaway when vice chairman Greg Abel takes over as CEO to begin 2026. The board of directors at the cash-rich conglomerate voted Sunday to keep the legendary 94-year-old investor as head of the board, a decision likely to relieve investors worried about...
How the stock market made back all its losses after Trump escalated the trade war
It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump’s “Liberation Day.” That’s when he shocked Wall Street by announcing much steeper tariffs than expected on nearly all U.S. trading partners. Those...
Warren Buffett shocks shareholders by announcing plan to retire at end of year
OMAHA, Neb. — Billionaire Warren Buffett shocked an arena full of shareholders Saturday by announcing that he will retire at the end of the year, bringing the curtain down on a six-decade run leading Berkshire Hathaway that made him the most influential investor in the world. Buffett said he will...
Warren Buffett shocks shareholders by announcing his intention to retire at the end of the year
OMAHA, Neb. — Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year. Buffett said he will recommend to Berkshire Hathaway’s board that Greg Abel should become CEO at the end of the year. “I think the...
Steelmaker Cleveland Cliffs to idle 3 steel plants in Pennsylvania and Illinois
HARRISBURG — Steelmaker Cleveland-Cliffs will indefinitely idle three steel plants this summer, saying Friday it is being buffeted by sluggish demand and pricing for some products, including high carbon steel sheets. The company said the idling of two Pennsylvania plants, one in Steelton and one in Conshohocken, and one in...
Wall Street extends its gains to a 9th straight day, reclaiming losses since tariff escalation
Wall Street extended its gains to a ninth straight day, marking its longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April. The rally on Friday was spurred by a better-than-expected report on the job market and resurgent...
Color analysis, collectibles and women’s fitness: Westmoreland County welcomes 3 new businesses
Friends Angela Vaslavsky and Sarah Thompson knew it was time for a life change. But neither of the Unity residents imagined they would discover that change when they went to House of Colour Mt. Lebanon to receive a personal color analysis. “We were on a self-care journey ourselves,” Thompson said....
Trump signs executive order directing federal funding cuts to PBS and NPR
WASHINGTON — President Donald Trump on Thursday signed an executive order aiming to slash public subsidies to PBS and NPR as he alleged “bias” in the broadcasters’ reporting. The order instructs the Corporation for Public Broadcasting and other federal agencies “to cease Federal funding for NPR and PBS” and further...
Microsoft hikes Xbox prices worldwide as gaming industry faces tariff uncertainty
NEW YORK — As new tariffs continue to strain global supply chains, some gamers are already feeling price hikes. Microsoft raised recommended retailer pricing for its Xbox consoles and controllers around the world this week. Its Xbox Series S, for example, now starts at $379.99 in the U.S. — up...
Employers added a surprising 177K jobs as job market shows resilience
WASHINGTON — American employers added a better-than-expected 177,000 jobs in April as the job market showed resilience in the face of President Donald Trump’s trade wars. Hiring was down slightly from a revised 185,000 in March and came in above economists’ expectations for a modest 135,000. The unemployment rate remained...
Trump says it’s Biden’s economy, but businesses, economists beg to differ
WASHINGTON — When the stock market was climbing in January 2024, Donald Trump knew exactly who deserved credit: Himself. Nearly a year before his return to the White House, he declared on his Truth Social platform that investors were celebrating his lead in the polls against President Joe Biden. When...
Apple posts stronger-than-expected Q2 results, says majority of U.S. iPhones sold will come from India
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s...
Kohl’s ousts CEO Ashley Buchanan after investigation into conflicts of interest
Kohl’s said it has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl’s named Chairman Michael Bender as interim CEO, effective immediately. In connection with the appointment, Bender will step down as...
Over 2 million Ninja-branded pressure cookers recalled amid reports of serious burn injuries
NEW YORK — SharkNinja is recalling more than 2 million pressure cookers sold in the U.S. and Canada — after consumers reported over 100 burn injuries spanning from a hazard that can cause hot food to spew out. According to a recall notice published by the U.S. Consumer Product Safety...
Home improvement: Bellevue business owner helps clients spruce up residences, businesses
Diana Edwards is a style consultant — for homes and businesses. Owner of LIME Painting North Pittsburgh, a luxury home painting and home improvement business, Edwards connects clients with the resources to spruce up their residence or business from adding a fresh coat of paint to an exterior or interior...
Tax diversion for Esplanade project approved by Pittsburgh Public Schools board
The Pittsburgh Public Schools board on Wednesday approved a tax diversion for the sprawling Esplanade development, which plans to bring a Ferris wheel, housing and other amenities to the city’s Chateau neighborhood. The developer, Cecil-based Piatt Companies, has now secured approval from the city and school district for the tax...
Court sides with Fortnite maker Epic as Apple sanctioned for defying order in App Store case
A federal judge has strongly rebuked Apple, finding that the iPhone maker willfully violated a court injunction in an antitrust case filed by “Fortnite” maker Epic Games. U.S. District Judge Yvonne Gonzalez Rogers had ordered Apple to lower the barriers protecting its previously exclusive payment system for in-app digital transactions...
Rustic Ridge Mine gets OK for new work under Pa. Turnpike, expects to extend operation 6-8 years
Rustic Ridge No. 1 Mine near Donegal has state approval to expand its operations under the Pennsylvania Turnpike and tap into 1,450 acres of a coal seam in an area along Route 711. The work is expected to extend the mine’s life by six to eight years, said Mark Tercek,...
Wall Street storms back from early losses, echoing its manic moves through a historic April
NEW YORK — Much like its wild month of April, a scary Wednesday for Wall Street found a gentler ending as stocks stormed back from steep early losses to continue their manic swings amid uncertainty about what President Donald Trump’s trade war will do to the economy. The S&P 500...
Economy shrinks 0.3% in 1st quarter as Trump trade wars disrupt businesses
The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business. First-quarter growth was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before Trump...
U.S. inflation cools and Americans step up spending as they brace for tariff impact
WASHINGTON — A closely watched inflation gauge cooled last month in a sign that prices were steadily easing before most of President Donald Trump’s tariffs were implemented. At the same time, consumers accelerated their spending, particularly on cars, likely in an effort to get ahead of the duties. Wednesday’s report...
Trump’s tariffs loom over the economy as shipments from China fall
WASHINGTON — American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president’s massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers,...
White House and Amazon go back and forth over tariff pricing on website
White House officials have blasted a reported proposal by Amazon — which the company has denied — to begin including information on its website about the amount of tariffs being applied to goods it sells. White House Press Secretary Karoline Leavitt, who stepped in to respond to a question directed...
UPS to cut 20,000 jobs, close some facilities as it reduces amount of Amazon shipments it handles
UPS is looking to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the amount of Amazon shipments it handles. The package delivery company said Tuesday that it anticipates making the job cuts this year. It anticipates closing 73 leased and owned buildings by the...
