Business category, Page 4
Sewickley Valley Chamber launching ‘Thursday Night Live’ series
As a way to provide more time to shop and visit Sewickley, some businesses are staying open later each week on Thursdays beginning May 7. Termed “Thursday Night Live” by the Sewickley Valley Chamber of Commerce, the concept will give people who may not be able to stop during the...
Hemingway’s Cafe goes quiet after 43 years in Oakland
Hemingway’s Cafe in Oakland served its last pitcher in the wee hours of Monday morning, ending its 43-year run in the heart of the University of Pittsburgh’s campus. Last call came around 1 a.m. and was met with a round of applause. More than 50 customers were hanging on, soaking...
Shares of eBay take off on a $56 billion buyout bid from GameStop’s Ryan Cohen
Shares of eBay are soaring before the opening bell Monday as Ryan Cohen’s GameStop pursues an approximately $56 billion takeover of the company, seeing it as a vehicle to compete with online retail giant Amazon. The national gaming retailer said that its approximately 1,600 U.S. stores could become drop-off and...
What3words app gains local popularity as large events come through PittsburghVideo
Just three words can be the difference between someone being completely lost — or knowing exactly where they are, at any point in the world. What3words is an app that uses a geocoding system to divide the world into 3-meter (10-foot) squares and assigns each a unique, three-word address. It’s...
How a weaker dollar is quietly making life more expensive
NEW YORK — A hidden force is quietly pushing up costs for everything from your summer vacation to your weekly grocery bills: a weaker U.S. dollar. The dollar has fallen about 10% against other major currencies since President Donald Trump returned to the White House, a pullback potentially playing a...
Spirit Airlines built a model the industry copied. Then it collapsed
Spirit Airlines, the scrappy discounter that once rattled the industry with cheeky ads and rock-bottom fares, took its final flight after 34 years of upending the business of flying. Once worth as much as roughly $5.5 billion on the stock market, the airline known for its bright yellow planes said...
Spirit Airlines goes out of business after 34 years, ending operations immediately
WEST PALM BEACH, Fla. — Spirit Airlines, an impish upstart that shook the industry with its irreverent ads and deep discount fares, announced Saturday that it has gone out of business after 34 years. The ultralow cost airline that once operated hundreds of daily flights on its bright yellow planes...
Century III Mall site demolition wrapping up soon, Zappala says
Approximately 90% of the former Century III Mall site has been demolished, Allegheny County District Attorney Stephen A. Zappala Jr. said this week. “We’ve got one building that I’m familiar with (at) Century III that is not down,” he said. “The other structures have been taken down, so that aspect...
Trump says a ‘final proposal’ to rescue Spirit Airlines is under consideration
WASHINGTON — President Donald Trump said Friday that his administration was still weighing a taxpayer-funded takeover of Spirit Airlines, with talks ongoing and no final decision yet on whether to move forward with a potential bailout for a carrier mired in bankruptcy proceedings for the second time in less than...
‘Severe’ staff cuts begin at Pittsburgh Post-Gazette, union says
The Pittsburgh Post- Gazette is slashing staff as it begins operations under new ownership. At least 40% of newsroom workers are losing their jobs, and 80% of employees who had gone on strike did not receive an offer to be retained, according to Andrew Goldstein, president of the Newspaper Guild...
Profit for the biggest U.S. oil companies declined in the 1st quarter, but only on paper
Profit for the two largest oil companies in the U.S. tumbled during the first quarter, a three-month period in which the price of crude and gasoline rocketed higher. It’s a setback on paper only, however, the result of financial hedges that backfired after the U.S. and Israel launched attacks on...
Trump says he’s lifting certain tariffs on Scotch whisky after royal visit
WASHINGTON — President Donald Trump said Thursday he is removing certain tariffs on Scotch whisky after this week’s White House visit by King Charles III and Queen Camilla of the United Kingdom. “The King and Queen got me to do something that nobody else was able to do, without hardly...
Pressure at the pump builds as gas prices reach 4-year highVideo
Many in Western Pennsylvania braced themselves as they pulled up to the gas pump on Thursday. That’s because U.S. gas prices have soared this week to their highest levels in four years — about $4.30 per gallon nationally. Though prices for regular unleaded in the Pittsburgh region haven’t reached the...
Jerome Powell plans to remain on Fed board, cites legal actions by Trump administration
WASHINGTON — Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at...
Macy’s at Pittsburgh Mills now closed
Shoppers said their final goodbyes to the Macy’s at Pittsburgh Mills over the weekend. The company told TribLive that Sunday would be the store’s last day of business before shutting its doors. The location is among 150 that the New York City-based company plans to close this year. Macy’s officials...
U.S. Steel to build $2B advanced ironmaking plant in Arkansas
U.S. Steel’s Big River complex in Arkansas is getting a nearly $2 billion advanced ironmaking facility, the Pittsburgh-based company announced Wednesday. The plant will use the direct reduction method to purify iron ore from U.S. Steel’s Minnesota mines. Iron is traditionally smelted in blast furnaces fueled by coke. This newer...
Buddy’s Ace Hardware fills former Staples space at The Waterworks
A large storefront at The Waterworks, empty since mid-December, soon will house the area’s only hardware store. Buddy’s Ace Hardware is scheduled to open the second week of May in the former Staples location. “We felt this market really needed a good hardware store,” owner Vince Grlovich said. “We want...
War and uncertainty in Iran fail to cool a red-hot U.S. stock market
Gas prices are higher. Grocery prices are higher. And the stock market is higher, a combination that, at a glance, wouldn’t seem to make much sense. While the war in Iran and the closure of the Strait of Hormuz roil international commerce, technology stocks have jumped nearly 20% this month...
John Dorfman: Old Faithful picks returned 59% in past year
I’ve never seen the Old Faithful geyser in Wyoming. But I feel like it’s an old friend. I named one of my favorite stock-selection screens after it. To appear on the Old Faithful list, a stock has to: • Post good profits (15% return on equity) • Have debt under...
OxyContin maker Purdue Pharma set to dissolve after judge approves its criminal sentence
NEWARK, N.J. — OxyContin maker Purdue Pharma is set to be dissolved and replaced by a company focused on the public good by the week’s end, as a massive legal settlement resolving thousands of lawsuits takes effect. A federal judge on Tuesday delivered a criminal sentence to the company to...
Sinking AI stocks and rising oil prices weigh on Wall Street
NEW YORK — Sinking AI stocks and another climb in oil prices because of the Iran war helped pull Wall Street off its record heights on Tuesday. The S&P 500 fell 0.5% from its latest all-time high. The Dow Jones Industrial Average dropped 25 points, or 0.1%, while the Nasdaq...
All 3 Smokey Bones restaurants in Southwestern Pa. close
Three local locations of Smokey Bones Bar & Fire Grill abruptly closed Tuesday. Employees from the barbecue chain’s restaurants in Hempfield, Cranberry and Frazer (within the Pittsburgh Mills shopping complex) told TribLive they were informed of the closures without notice Tuesday morning. The chain’s official website also shows the locations...
Most sunscreens harm corals. Here’s what you can do
Every time you go for a swim, some of your sunscreen gets left behind. An estimated 25% of applied sunscreen washes off during recreational water activities, releasing some 5,000 tons annually in reef areas alone, according to a study in Environmental Health Perspectives. That’s equivalent to the weight of about...
Adopted and locked away: Kids promised ‘forever homes’ instead confined in for-profit institutions
She was 13 years old and scared of the dark when she arrived at a residential treatment center that had promised her adoptive parents it would help her heal — from the pain of not knowing who her mother was or why she’d given her away. Kate plugged in a...
BP’s profit more than doubles in 1Q as Iran war continues and U.S. gas prices rise
BP’s profit more than doubled in the first quarter as the war in Iran continues and the average price for gasoline hit a new high for the year in the U.S. The oil and gas industry has been in upheaval since the start of the Iran war in February. A...
