Steel tariff impact: Pittsburgh company already seeing changes

March 11, 2018 wpanews 0

Steel tariff impact: Pittsburgh company already seeing changes The president of a family-owned mechanical contracting business in Pittsburgh’s Lawrenceville neighborhood is watching for the price impact of steep new tariffs on all steel, American and foreign. “Everything that can happen in America, I’m always very happy to see. But when you make drastic changes real fast, it has a pretty big impact on a lot of people,” David McKamish said […] READ MORE


March 10, 2018 wpanews 0

  The Elliot Group is purchasing the former Jeannette Glass site for $600,000. The Westmoreland County Industrial Develop Corporation approved the sales agreement at its meeting yesterday. The company is proposing to build a cryogenic pump test stand. The company supplies compressors and turbines for liquefied natural gas plants. However, the company still must approve the agreement and company officials told the Tribune Review that there is no agreement yet […] READ MORE

Report: Toys “R” Us may liquidate its bankrupt U.S. stores – CBS News

March 9, 2018 wpanews 1

Toys “R” Us may be planning a sad end to its toy story: the liquidation of its bankrupt U.S. operations. The retailer has yet to find a buyer or secure a debt restructuring deal with its lenders, according to Bloomberg News. That means a shutdown of the company’s U.S. division could happen within days, Bloomberg reported, citing sources close to the situation. The chain filed for bankruptcy in September with the […] READ MORE

U.S. Steel will restart idled Granite City steel plant, bring back 500 workers

March 8, 2018 wpanews 0

  U.S. Steel said it will restart a long-idled plant and call about 500 employees back to work as it anticipates higher domestic demand for steel because of new import tariffs announced by President Donald Trump. One of two blast furnaces and the steelmaking facilities at Granite City Works in Illinois will be restarted, U.S. Steel said Wednesday. The plant has been idle since late 2015. The company said the […] READ MORE

Senate set to roll back Obama banking rules — with help of Dems

March 5, 2018 wpanews 0

Congress’ appetite for pulling back bank regulations shows the renewed clout of the financial sector in Washington The original law was a response to the 2008 financial crisis that felled hundreds of banks and large financial companies, nearly toppling some of the largest U.S. financial institutions, including Bank of America and Goldman Sachs. The core of the new bill exempts about two dozen financial companies with assets between $50 billion […] READ MORE

US weekly jobless claims drop to lowest level since 1969 – Reuters

March 1, 2018 wpanews 0

  Weekly jobless claims down 10K to 210,000 The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting the lowest level in more than 48 years, pointing to a rapidly tightening labor market. Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 210,000 for the week ended Feb. 24, the lowest level since December 1969, the Labor Department said on Thursday. Claims for the […] READ MORE

Toys ‘R’ Us May Close 200 More Stores | Fortune

February 23, 2018 wpanews 0

After announcing plans to shutter 182 stores last year, Toys ‘R’ Us is reportedly set to do it again, this time closing around 200 stores. Plans for the closures are reportedly still in the works, and the actual number of stores that are to be closed is subject to change, The Wall Street Journal reports, citing people familiar with the matter. The news of the closures comes after Toys ‘R’ Us filed for bankruptcy in […] READ MORE

Amazon Plans to Open Six More Cashierless Stores, Recode Says

February 23, 2018 wpanews 0 Inc. plans to open as many as six more cashierless stores this year, according to a report. The e-commerce giant is considering locations in Los Angeles and hometown Seattle, where the first Amazon Go store opened last month, Recode reported Thursday, citing people familiar with the situation. Amazon Go is the company’s most ambitious effort to change the way people shop and a play for the struggling $550 billion U.S. convenience store […] READ MORE

Amazon Expanding In Pittsburgh, Will Double Number Of Jobs « CBS Pittsburgh

February 23, 2018 wpanews 0

  PITTSBURGH (KDKA) — Amazon is expanding in Pittsburgh. A total of 125 jobs are being added to its Tech Hub, and that has many people wondering whether this means the Steel City will be the home of Amazon’s second headquarters? This expansion is not an indicator of what may or may not happen with Amazon’s second headquarters, or HQ2. However, Mayor Bill Peduto tells KDKA what we can expect to see is more companies coming […] READ MORE

HOME DEPOT PITTSBURGH: The Home Depot hiring 700 associates in Pittsburgh area | WPXI

February 22, 2018 wpanews 0

The Home Depot is hiring 700 associates to fill positions at stores in the Pittsburgh area, the home improvement retailer announced Wednesday. Employment opportunities include both permanent part-time and seasonal positions in the company’s stores and distribution facilities. Positions include sales, cashiers, operations and online order fulfillment. Applying for the job can be done at People can also text HOMEDEPOT to 52270 for a link to apply. Source: HOME […] READ MORE

Winn-Dixie Owner Bi-Lo Prepares for Bankruptcy Filing

February 19, 2018 wpanews 0

Bi-Lo LLC, the supermarket company that owns the Winn-Dixie chain, is preparing for a potential bankruptcy filing as soon as next month, according to people with knowledge of the matter. Bi-Lo is laboring under more than $1 billion in debt following its 2005 buyout by Lone Star Funds. The company and its creditors have held talks to discuss a possible debt-to-equity swap, as well as alternatives such as asset sales, Bloomberg reported […] READ MORE

SEC blocks Chicago Stock Exchange sale to China-based investors

February 16, 2018 wpanews 1

U.S. regulators on Thursday killed the politically sensitive sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors, saying a lack of information on the would-be buyers threatened the ability to properly monitor the exchange after the deal. Source: SEC blocks Chicago Stock Exchange sale to China-based investors

Sam’s Club will offer free shipping on most items | Fortune

February 14, 2018 wpanews 5

  Hoping to better compete with arch-rival Costco Wholesale (COST, +1.69%) and, Sam’s Club said on Wednesday that it’s now offering free shipping for many items to its premium members as part of a restructuring to its membership programs. The bulk retailer, a unit of Walmart Inc (WMT, +1.44%), says that the bulk of items it sells online will qualify and that there will be no minimum order size for customers who have a “Plus” membership, which […] READ MORE

Senate approves Jerome Powell as next chair of the Federal Reserve

February 12, 2018 wpanews 0

Powell will succeed Janet Yellen, the first woman to lead the Fed, when her term ends. Powell, 64, has served for 5½ years on the Fed’s board. A lawyer and investment manager by training, he will be the first Fed leader in 40 years without an advanced degree in economics. Many expect him to follow Yellen’s cautious approach to interest rates. Powell, viewed as a centrist, enjoyed support from Republicans […] READ MORE

White House to unveil $1.5 trillion infrastructure plan | TheHill

February 12, 2018 wpanews 0

  The White House on Monday will unveil its long-awaited $1.5 trillion infrastructure package aimed at overhauling U.S. public works. “The current system is fundamentally broken and it’s broken in two different ways,” a senior administration official told reporters in a Saturday phone call. “We are underinvesting in our infrastructure, and we have a permitting process that takes so long that even when funds are adequate, it can take a decade to build critical infrastructure.” The […] READ MORE