Business category, Page 2
High oil and gas prices could outlast Trump’s war with Iran
WASHINGTON — As the war with Iran began to send oil and gas prices soaring around the world, President Donald Trump shrugged off the fallout as a temporary setback for the U.S. economy. “When this is over,” he told reporters this month, “oil prices are going to go down very,...
Pa. House votes to boost state’s minimum wage to $15 an hour by 2029
The state House voted Tuesday afternoon to boost Pennsylvania’s minimum wage to $15 an hour by 2029. Pennsylvania’s minimum wage has been $7.25 an hour since 2009. “If you work hard, you shouldn’t have to worry about your next meal or having a roof over your head. Pennsylvania needs a...
John Dorfman: Defense stocks could explode upward again
Even if armed hostilities in Iran and Ukraine stop in 2026, three things still will be true. • Iran will still hate the United States. • Vladimir Putin’s vision for Russia will be expansionist. • Members of NATO will feel uneasy about the strength of their alliance with the United...
Chances of a Federal Reserve rate hike fade as inflation worsens
WASHINGTON — The jump in gas prices stemming from the war in Iran has had another impact that may also affect many Americans’ finances: Higher interest rates. Longer-term interest rates have risen quickly since the war began Feb. 28, pushing up the cost of mortgage loans, auto loans, and business...
Young graduates face the grimmest job market in years
In January, an administrator from the career center at the University of Delaware posed a question on a private message board for educators: “Has anyone else noticed a decrease in employer fair registration for their spring events?” Responses came swiftly. “We are definitely seeing similar issues!” “It seems the current...
Sheetz to hire 500 employees across Pennsylvania
Sheetz plans to hire 500 new employees at its stores across Pennsylvania. The hiring day takes place from 8 a.m. to 8 p.m. on Wednesday at all of Sheetz’ 315 locations in the commonwealth, the company said in an announcement. Sheetz got its start in Altoona in 1952. Each of...
Trump administration bans import of new foreign-made routers, citing supply chain and security risks
WASHINGTON — The Trump administration has banned imports of new, foreign-made routers citing supply chain vulnerability and cybersecurity risks. The newest addition to the U.S. “covered list” targets consumer-grade routers, the boxes that connect home computers, phones and smart devices to the internet. The list is a catalog of communications...
Highmark lost $175M in 2025, battered by high insurance claims
Highmark took a $175 million net loss last year as rising health insurance usage battered the Pittsburgh-based company. Financial results released Tuesday also showed a $674 million operating loss for Highmark, even as revenue rose year-over-year to $32 billion from $29 billion. Highmark Health Plans, the organization’s insurance division, was...
Retirees, should you take RMDs early in the year or wait?
Within a given year, is there any advantage to taking your required minimum distributions as soon as you can, or taking it down to the wire and pulling the distribution in late December? Or is it better to take monthly or quarterly withdrawals? Here are three timing approaches to consider,...
New Kensington gift shop sells quirky, handmade 1-of-a-kind itemsVideo
Racks of quirky totes and custom tumblers now fill a small New Kensington storefront — but two years ago, The Bag Lady began with a single handmade Halloween trick-or-treat bag designed in honor of a deceased loved one’s birthday. Now, The Bag Lady owner Heather Naugle, a Penn Hills resident,...
Kalshi and Polymarket rush to ban insider trading as senators move to curb prediction markets
NEW YORK — Kalshi and Polymarket, the two biggest prediction market platforms, rushed to institute new industry guardrails on Monday after two key senators announced legislation that could severely curtail the industry’s prospects. Kalshi said it would ban political candidates from trading on their own campaigns, and it would preemptively...
Trump administration to pay French company $1B to walk away from U.S. offshore wind leases
WASHINGTON — The Trump administration will pay $1 billion to a French company to walk away from two U.S. offshore wind leases as the administration ramps up its campaign against offshore wind and other renewable energy. TotalEnergies has agreed to what’s essentially a refund of its leases for projects off...
Legal pressures mount on Namdar for Pittsburgh Mills mall maintenance
With spring weather could come accountability for Pittsburgh Mills mall owner Namdar Realty Group. At least that’s what Frazer Zoning Officer Bill Payne is hoping for. “Since all the roads and all the other code enforcement stuff were on the exterior of the property, and with all the weather and...
Despite spiking oil prices, there’s no talk of a boom in Texas oil country
MIDLAND, Texas — Drill rigs towered in dormant clusters along the main highway through Odessa, Texas. The bartender at a popular oil country bar complained of a noticeable slowdown. Workers in stained shirts from the nearby oil fields winced at the high price of diesel. “I’m not feeling good about...
Trump touted bigger tax refunds this year, but Americans will likely spend them on gas
WASHINGTON — The U.S. economy was supposed to start the year with a bang, fueled by an unusually large jump in tax refunds from President Donald Trump’s tax cut legislation. Yet spiking gas prices are on track to eat up those refunds, leaving most Americans with little extra to spend....
The middle-class suburbanites who sell their blood plasma to get by
WEBSTER, Texas — Joseph Briseño arrived at CSL Plasma around 8 a.m., just as the morning rush of donors was thinning out. He took a few small sips from his water bottle, preparing for what he ruefully described as his second job. Four days a week, Briseño, who lives in...
Nothing fake about Southwestern Pa.’s golf simulator boom
OnPar Now’s golf simulators fill up every other Friday during the winter with women of various skill levels. Some have steady swings, others swing and miss. The score isn’t the point for this virtual golf league built on real-world connection. “We have drinks and network and have a good time,”...
Meta targeted older workers in layoffs, lawsuit by former senior director for company claims
When Menlo Park, California, social media giant Meta executed a plan to slash 5% of its workforce last year, it laid off older workers at much higher rates than younger employees, a lawsuit by one of those workers claims. Nicolas Franchet alleged in his lawsuit that he was one victim...
Jury finds Elon Musk misled investors during Twitter purchase, absolves him of some fraud claims
SAN FRANCISCO — A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter’s stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did...
Trump officials announce 10-gigawatt data center, gas plants for former Ohio uranium site
PIKETON, Ohio — The U.S. Department of Energy on Friday announced a public-private partnership to develop a major data center with its own power supply on the site of a decommissioned uranium enrichment plant in southern Ohio, as it pushes commercial development of artificial intelligence technology. The Portsmouth Gaseous Diffusion...
In an always-on culture, employees try ‘microshifting’ to reclaim personal lives
NEW YORK — Before the house is humming and her teenagers ask her to whip up breakfast or chauffeur them to school, Jen Meegan reads her company emails and revisits ideas she drafted the night before. She works for an hour or so, then after the school run shops for...
Pittsburgh City Paper to relaunch under new ownershipVideo
A deal is in place that will allow Pittsburgh City Paper to relaunch under new ownership, restoring its online presence as well as a monthly print issue, its leadership said Thursday. “City Paper is a legacy free paper. I think alt-weeklies, even if they don’t print quite weekly, are a...
Ozempic is about to go generic for billions of people
The blockbuster weight loss drug sold as Ozempic and Wegovy will soon go generic in countries that are home to 40% of the world’s population, significantly lowering the price of a costly medicine that had been largely unaffordable to nearly all but the wealthiest people. On Saturday, Novo Nordisk, the...
Uber to invest up to $1.25B in Rivian to help launch robotaxis
NEW YORK — Uber says it will invest up to $1.25 billion in Rivian Automotive to help launch up to 50,000 robotaxis. Uber, or its fleet partners, are expected to buy 10,000 fully autonomous Rivian R2 robotaxis, with the option to purchase up to 40,000 more in 2030. The companies...
U.S. applications for jobless benefits fall to 205,000 last week as layoffs remain historically low
WASHINGTON — U.S. applications for unemployment benefits fell last week, remaining in the same range of recent years despite a broadly tepid labor market. The number of Americans filing for jobless aid for the week ending March 14 fell by 8,000 from the previous week to 205,000, the Labor Department...
