Business category, Page 7
Polling shows most Americans still think they’re overpaying on taxes
WASHINGTON — Most Americans still think their taxes are too high, according to recent polls, even after last year’s tax law fulfilled several of President Donald Trump’s tax-related campaign promises. In fact, a new Fox News poll indicates people are more upset about taxes than they were last year. The...
Glassport sandwich shop opens location in Penn Township
A Glassport sandwich shop has expanded to a second location in Penn Township. Glads Deli opened in March along Route 130 at Crossroads Plaza. The building formerly housed a Subway. Owner Jason Billingsley ran Affordable Bathrooms and Kitchens by JB from 2000 to 2023 before getting into the restaurant industry....
U.S. wholesale prices surged 4% last month after the war in Iran sent energy prices soaring
WASHINGTON — U.S. wholesale prices surged last month as the Iran war drove up the cost of energy. The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.5% from February and 4% from March 2025. The year-over-year gains was...
Construction begins on $10B natural gas power plant and data center in Indiana CountyVideo
Construction has begun on a proposed $10 billion project to create a 4.4-gigawatt natural gas-fueled power plant and hyperscale data centers on a hilltop outside Homer City in Indiana County. The aboveground construction began more than a week ago, after extensive underground foundation work was completed at what the company...
Stocks rally and return to where they were before the U.S.-Iran war
NEW YORK — U.S. stocks rallied Monday and recovered the last of their losses caused so far by the U.S.-Iran war, as Wall Street remains hopeful that the global economy can still avoid a worst-case scenario. The S&P 500 rose 1% and is back to where it was before the...
Already under financial pressure, Midwest soybean farmers are squeezed further by tariffs, Iran war
WAHOO, Neb. — Strong winds whipped around Doug Bartek, a fifth-generation farmer, as he headed into a grain bin to shovel soybeans onto a conveyor chute. The 60-year-old was anxious at the onset of the spring planting season, rattling off the long list of issues affecting his family’s livelihood at...
U.S. home sales fall in March, marking a slow start to the spring homebuying season
Sales of previously occupied U.S. homes fell in March to their slowest pace in nine months, as easing mortgage rates failed to motivate home shoppers during what’s traditionally been the busiest time of the year for the housing market. Existing home sales fell 3.6% last month from February to a...
Oil prices rise after the U.S. says it would block Iranian ports starting Monday
NEW YORK — Oil prices rose in early market trading Sunday after the U.S. said it would blockade Iranian ports beginning Monday. The price of U.S. crude oil rose 8% to $104.24 a barrel and Brent crude oil, the international standard, rose 7% to $102.29. Brent crude has swung dramatically...
Lessons learned in ’70s have made U.S., world economies less vulnerable to oil shocks
WASHINGTON — The world economy is experiencing a disorienting flashback to the 1970s. Oil prices are once again surging in the wake of war in the Middle East, driving up the cost of gasoline, diesel and jet fuel and threatening a return to stagflation — the toxic mix of higher...
Macy’s at Pittsburgh Mills announces closing date
Two weeks remain for shoppers of the Macy’s at Pittsburgh Mills. The company announced that April 26 will be closing day for the Frazer store, which opened in 2005. The location is among 150 that the New York City-based company plans to close this year. A video posted to Facebook...
Buyers fret as the average cost of a new car nears $50K
DETROIT — After a few years of sharing a 2019 Chevrolet Trax, Dana Eble and Tyler Marcus are finally looking for a second car. But as they jump into the market, the young married couple isn’t sure what they can afford. “I just keep seeing a lot of different aspects...
New Carnegie Mellon program pairs start-up entrepreneurs with investors
Founders of fledgling tech startups at Carnegie Mellon University are getting a glimpse inside the minds of venture capitalists and a shot at $240 million in potential investments. The university’s Swartz Center for Entrepreneurship recently launched its Deep Tech Venture-Ready Program, a six-month course in wooing venture capitalists followed by...
War in Iran sends inflation soaring and the mood of American consumers plunging
WASHINGTON — The largest monthly jump in gas prices in six decades caused a sharp spike in inflation last month, creating major challenges for the inflation-fighters at the Federal Reserve and heightening already substantial political hurdles for the White House. Consumer prices rose 3.3% in March from a year earlier,...
Costco is facing a new class-action lawsuit that takes aim at memberships
Costco is getting hit with a class action lawsuit and it’s all because of a California man who’s accusing the company of violating the state’s law on auto-renewals for memberships. So, there’s a law requiring companies to give customers a renewal notice at least 15 days — and no more...
USPS to suspend pension contributions, seeks 4-cent stamp price hike
The U.S. Postal Service said Thursday it has informed federal budget officials it will temporarily suspend its employer contributions to Federal Employees Retirement System annuities, allowing it to keep making payroll, paying suppliers and delivering the mail. The Postal Service also wants to increase postage rates, including raising the price...
Travelers face higher costs and fewer flight options as jet fuel prices swing
A new reality is setting in for travelers worldwide: rising fees, fewer flight options and difficult decisions about whether a trip is worth the cost. The culprit is volatile oil and jet fuel prices, which have spiked sharply since the war in the Middle East began and fighting near the...
Stocks rise and oil prices trim their gains on hopes for the ceasefire with Iran
NEW YORK — U.S. stocks rose Thursday, even though oil prices did too, as financial markets moved more modestly a day after surging on optimism about a ceasefire in the war with Iran. The morning began with moderate losses for Wall Street following drops for Asian and European stocks. But...
A 1.9 billion-year-old bedrock will soon house the world’s 1st permanent nuclear waste site
OLKILUOTO, Finland — With the push of a button, the elevator descends hundreds of meters in seconds into the dark depths of Onkalo. “We are now at about minus 430 meters (1,411 feet),” muttered geologist Tuomas Pere as he steered a car through a labyrinth of man-made tunnels. “We are...
Morning Roundup: Sheetz expands westward; weekend turnpike travel impacted
Here are some of the latest news items from this morning, Thursday, April 9: Sheetz expands into Indiana Pittsburgh-area drivers heading west to the state of Indiana may soon see a familiar logo at the gas pump. Sheetz announced Tuesday that the company is expanding into Indiana, as the Pennsylvania-based...
South Korean firm restarts steel pipe plant in The Waterfront
A South Korean company restarted the former Ascent Industries steel pipe and tube manufacturing plant in The Waterfront development last week after nearly three years offline. Nexteel has brought the massive, bright blue warehouse in Munhall back to life, according to a LinkedIn post from its American division that offered...
GM recalling more than 270,000 Chevrolet Malibu vehicles in U.S. over rearview camera screen issue
General Motors is recalling more than 270,000 Chevrolet Malibu vehicles in the U.S. because the rearview camera screen may display a distorted or blank image. The National Highway Traffic Safety Administration said in a letter that a rearview image that doesn’t display properly reduces the driver’s view behind the vehicle,...
My quest to solve bitcoin’s great mystery
One evening in the fall of 2024, my wife and I were sitting in traffic on the Long Island Expressway when, tired of listening to the jazz-funk station I often played on our drives, she switched to a podcast. It was “Hard Fork,” the New York Times tech show, and...
Oil plunges below $95 as the Dow surges 1,300 in a worldwide rally following a ceasefire with Iran
NEW YORK — Oil prices plunged below $95 per barrel, and stock markets surged worldwide Wednesday after President Donald Trump pulled back from his threat to destroy Iran. The S&P 500 leaped 2.5% after Trump announced a two-week ceasefire with Iran, less than 90 minutes before a deadline Trump had...
Will the Iran war ceasefire mean a drop in gas prices?
President Donald Trump on Tuesday agreed to a two-week ceasefire with Iran just hours before his 8 p.m. deadline to attack the country. That ceasefire agreement includes that Iran will reopen the crucial Strait of Hormuz to allow the safe transit of oil tankers. Whether the ceasefire agreement will result...
It will take months to get oil and gas flowing again
HOUSTON — Reopening the Strait of Hormuz — a central aim for the United States when it agreed to a ceasefire with Iran — would be the first step toward getting more energy flowing through the Persian Gulf. But only the first step. That is because dozens of refineries, storage...
