The Senate on Monday night approved a $2.3 trillion COVID-19 relief bill and sent it to President Trump for his signature.
The legislation — which follows passage in the House — authorizes $600 stimulus checks for people who earn less than $75,000 per year and an extra $600 payment per child.
The bill contains a weekly unemployment insurance supplement of $300 and also has $284.4 billion in Paycheck Protection Program forgivable loans for small businesses.
It allocates $82 billion for schools and colleges, $40 billion for vaccine distribution and virus testing, $25 billion in rental assistance and $15 billion for live entertainment venues.
Four companies in Allegheny County have been named among the Best Places to Work in Pennsylvania.
Ryan LLC, a consulting firm in Downtown Pittsburgh; Total Quality Logistics, a logistics firm located in Kennedy Township; Maher Duessel, an accounting firm on Pittsburgh’s North Shore; and KU Resources, Inc., an environmental consultant in Duquesne all made the list, which is made up of companies from across the state.
Target is hoping to hit the bullseye with the look of its new Downtown store.
The Minneapolis retailer and its landlord will brief the Pittsburgh planning commission Tuesday on the buildout for the mini Target on the first floor of the former Kaufmann’s/Macy’s department store at the corner of Smithfield Street and Fifth Avenue.
The store occupies a 20,034-square-foot space and will be situated mainly on the Fifth Avenue side of the building, running from Smithfield to Cherry Way, according to materials presented to the commission.
Mark Belko: mbelko@post-gazette.com or 412-263-1262.
European stocks fluctuated while U.S. futures edged lower a day after reaching record highs as optimism over coronavirus vaccines waned. Yields on Treasuries and German bunds held most of Tuesday’s spike.
Pro-cyclical sectors including autos and chemicals led declines on the Stoxx Europe 600 Index. Britain’s pound reversed a gain after the European Union’s chief Brexit negotiator Michel Barnier reportedly told envoys the outcome is still too close to call.
Shares traded mixed in Asia, where China’s No. 2 smartphone maker Xiaomi Corp. dropped the most ever after disclosing a share sale. The offshore yuan erased gains after president-elect Joe Biden told the New York Times he won’t soon remove tariffs on Chinese goods. Gold rose for a second day.
SYDNEY/NEW YORK, Dec 1 (Reuters) – Asian share markets opened slightly higher on Tuesday buoyed by the prospect of a COVID-19 vaccine, reversing the previous day’s dips as investors took profits at the end of a record-breaking month.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.26% on Tuesday after closing the month 9% higher, the best November since 2001. Japan’s Nikkei and Australia’s S&P/ASX 200 were each 0.9% higher, while South Korea was up 1.4%.
China’s blue-chip CSI300 index was 0.72% higher on Tuesday, after data on Monday that pointed to a continued recovery in the world’s second-largest economy against the backdrop of the COVID-19 pandemic.
“We’ve seen clearly a huge wave of liquidity coming to equities in response to the vaccine news and in response to U.S. election news,” said Hamish Tadgell, a portfolio manager at SG Hiscock & Company.
“But there are still risks, and as a result we could see the market pull back, I think, particularly as we come into sort of the Christmas period.”
NORTH VERSAILLES, Pa. — Channel 4 Action News Investigates has learned more than a half-million Pennsylvanians who applied for unemployment during the pandemic have still not been able to get it.For some, long waits for benefits have become long waits to appeal the denial of benefit
John Roman of North Versailles was laid off from his job as a school bus driver in March.Action News Investigates first told his story in April, when he was struggling to get benefits.”You can’t get through. Keep getting busy signals. I tried like four or five hours in one day,” Roman said at the time.
Eventually, the checks started coming. But in June, his case took a twist.The state Department of Labor and Industry sent him a letter saying he was ineligible for benefits and ordering him to pay back $3,000.The reason? The state said Roman took a leave of absence.But medical records show he was hospitalized for acute illness — pneumonia and COPD.So Roman filed an appeal, saying the state decision was incorrect. That was five months ago.
Asked what happened since then, Roman said: “Nothing. Nothing at all.”He’s called the state unemployment office repeatedly. He contacted his state legislator.”Mine’s at the bottom of the pile, I guess,” Roman said.In August, he finally got a callback from the state unemployment office.
An official left a voicemail message saying: “We have received the appeal information however it was not under review so that was a mistake on our part. You should receive information from us soon as again I have escalated this matter to a supervisor.”But Roman did not get a hearing until Monday, nearly three months after he received that voicemail message.”It’s wrong,” Roman said.In yet another twist, Roman was approved for unemployment after first being denied. But the state has been deducting the money he allegedly owes from the amount he is supposed to be collecting, leaving him with virtually nothing.”I could never understand their system,” Roman said.
Top state unemployment officials would not discuss specifics of Roman’s case but they were surprised when Action News Investigates told them how long he’s been waiting for his appeal.
“I do know the appeals office is still on time with everything so depending on the timing of when that was requested and what the actual circumstances are, that probably has a lot to do with it,” said Susan Dickinson, director of unemployment policy.
“John is emblematic of so many people who are so frustrated with the system and don’t know where to turn for help,” said Barney Oursler of the Mon Valley Unemployed Committee.
Oursler reached out to help Roman after seeing his initial story. He said the state made a mistake and Roman deserves to be paid.But even Oursler, who helped thousands of unemployed steelworkers in the 1980s, has hit a wall with Harrisburg.
“The system is failing people and that’s the frustration people have,” Oursler said.State officials said 32% of all Pennsylvanians filing unemployment claims during the pandemic — about 600,000 people — have been rejected.
There have been about 43,000 appeals filed.Five months after filing his appeal, Roman said he hopes he can finally get an answer.”It’s been very frustrating. There’s times I just lay down and close my eyes, is it a dream or is it reality? I’m finding out it’s reality,” Roman said.
PITTSBURGH — Pittsburgh-based BLD Marketing on Thursday said it has created and launched a recruitment marketing program for 84 Lumber Co.
The nation’s largest privately held building materials supplier, 84 Lumber operates about 250 stores, plants, custom millwork and door shops and engineered wood product centers in more than 30 states. It is hiring for various positions due to increased residential construction and, as of Thursday, listed 478 open positions from labor to management on its website.
The Business Times recently reported that 84 Lumber said it topped $4 billion in annual sales for the first time in its history with projections to reach more than $4.5 billion by year-end. Expansion is underway into Detroit; Stockton, California; and Boise, Idaho, with new stores scheduled to open in early 2021.
All three major averages notched their best weekly performance since April last week.
Stocks were set to continue their big post-election rally as futures rose in overnight trading on Sunday. The gains came as Democrat Joe Biden defeated incumbent Donald Trump in the U.S. presidential race to become president elect, according to NBC projections.
Futures on the Dow Jones Industrial Average rose 319 points, implying an opening gain of about 300 points on Monday. S&P 500 futures climbed 1.1% and Nasdaq 100 futures rose 1.4%.
The former vice president won after his projected victory in Pennsylvania as well as Nevada, according to NBC News projections on Saturday. The call came four days after Election Day and amid close counts in several battleground states.
Wall Street hoped the call would reduce the odds of a drawn-out election fight, even as Trump refused to concede. Many traders had put on bets for market volatility in November and were unwinding those positions, helping fuel a rally.
Former Finance Minister Naci Agbal was brought in to replace Murat Uysal, according to a presidential decree announced in the Official Gazette.
Former Finance Minister Naci Agbal was brought in to replace Murat Uysal, according to a presidential decree announced in the Official Gazette.
The decision came after the lira lost nearly a third of its value since the start of the year — hitting a record low of 8.58 against the U.S. dollar on Friday — and annual inflation stood at 11.89%.
Acting as the county’s salary board, Republican commissioners Sean Kertes and Doug Chew, along with Republican Controller Jeff Balzer, approved the financial package for the auditors. It’s a move Balzer said was needed to retain a quality staff and was recommended by the county’s human resources department.
Gina Cerilli, a second-term Democrat, claimed Balzer threatened to shutter his auditing department and hire outside staff to complete those mandated functions should the proposed raises be rejected.
Balzer denied that a threat was made but conceded that during a private meeting last week he suggested that the hiring of an outside firm to perform the county’s routine auditing would be costly.
“It was a talking point and I don’t have the authority to do that,” Balzer said. “Once again, she’s exposed her inexperience in government and claims she knows everything.”
Kertes and Chew, first-term Republicans, supported the raises and said they were cheaper than hiring private auditors.
It’s 15 minutes past noon on a sunny October weekday — typically a bustling time for the food court at Fifth Avenue Place, Downtown.
But with the pandemic still raging and much of the city’s office staff working from home, the lunch counters are dark — and it’s eerily quiet.
Instead of the chattering din of a crowd, the only sound that can be heard is the whirring of the escalators rotating in a ghostly, endless loop. A sign declaring “Line Starts Here” at the end of a retractable rope at the shuttered Rosso Pizzeria stands as a mocking reminder of normal times.
Just outside, despite the unusually warm weather, the sidewalks are sparsely peppered with pedestrians.
Let’s talk: High office vacancies forcing landlords to wheel and deal, report finds
Across the street, there are no lines at McDonald’s, while the swanky Eddie Merlot’s restaurant is closed except for takeout until dinnertime. Down the street at the Sly Fox Taphouse, just two outdoor tables are occupied. There are no customers inside.
During these unsettling times, parking garages sit nearly empty, and many restaurants and businesses that rely on the regular swarm of office workers into town have been forced to close, at least temporarily.
Amid a fall surge in COVID-19 cases and with the governor’s mandate to work remotely still in force, the scene is unlikely to change any time soon.
“Closed until further notice” sign posted in a store window in the deserted Fifth Avenue Place on Thursday, Oct. 29, 2020, in Downtown.(Andrew Rush/Post-Gazette)
One of Pittsburgh’s signature skyscrapers, Fifth Avenue Place is the headquarters for health care giant Highmark Health, which occupies 26 floors in the now largely empty 31-story building.
“We continue to plan for a safe, phased and gradual return to work for our non-clinical employees after Jan. 1, subject to re-evaluation … as we draw closer to that date,” spokeswoman Janice Maszle said recently in an email. “The health and safety of our employees remain paramount.”
Apartment rents in the D.C. area remain some of the highest in the nation — but they’re slowly coming down as landlords seek to lure tenants as people move out to Canada during the pandemic.
The Innisfil Real Estate is situated in the heart of CANADA, where one can enjoy the magnificent Canadian scenery. The spectacular views of Lake Erie and Niagara Falls are simply mesmerizing. This amazing place has a lot to offer especially to the ones who love to live close to nature. There are plenty of gated communities that are present in the area and all are home to exceptional homes. The most attractive feature about the Innisfil real estate is its gated entrances, which ensures that only the best among the many can enter at any given time.
As it stands now, D.C. ranks seventh highest among big cities for rent — averaging just over $2,100 a month across all apartment sizes in September. However, that is down 1.6% from the average rent a year ago.
Real estate firm Zillow reports that reflects what is happening in mostly large, expensive cities across the nation. Rent erosion has landlords responding to a drop in demand and rising vacancies by lowering rental rates.
The hoarding began slowly in spring as forward-thinking shoppers snapped up masks and hand sanitizer. But once Americans realized the pandemic was serious, they emptied stores of just about everything, from toilet paper to canned soup.
With an alarming increase in COVID-19 cases this fall, panic buying could return as worries of a second lockdown spread. Retailers say they’re already seeing the signs and are hopeful they’ll be ready.
Stocks tumbled on Monday amid dimming hopes for a stimulus bill and rising coronavirus cases.
The White House and Democrats have failed to agree on a new aid package. White House economics adviser Larry Kudlow on Monday told reporters that talks were continuing, but declined to say whether he was optimistic or pessimistic about a deal.
Shares fell on Monday as investor hopes faded that lawmakers would deliver more emergency financial support for the economy anytime soon. Rising coronavirus cases added concerns about headwinds for the U.S. economy, sending the Dow down more than 650 points, or 2.3%.
JOHNSTOWN, Pa (WJAC) — The Greater Pittsburgh Community Food Bank announced that it will be hosting another food distribution event in Johnstown early next month.
The food drive will take place at the Galleria Mall, from noon to 2 p.m., on November 4th.
Organizers are recommending those who are planning to attend the food drive to register in advance.
Washington seems to be experiencing whiplash as the president throws wrenches into negotiations on Capitol Hill over coronavirus relief measures
The White House was preparing to unveil a new $1.8 trillion stimulus package, according to reports, after President Donald Trump blew up negotiations with Democrats and Republican leaders warned a Covid-19 relief bill was unlikely before Election Day.
US Secretary of Treasury Steven Mnuchin was expected to discuss the new aid package with House Speaker Nancy Pelosi (D—Ca) during a meeting on Friday, the Wall Street Journal reported, amid stalled negotiations on Capitol Hill over coronavirus relief.
Wall Street’s main indexes tumbled at the open on Friday after President Donald Trump tested positive for COVID-19 weeks before the election, with an elusive fiscal stimulus and a slowdown in the domestic economic recovery also denting sentiment.
The House passed a $2.2 trillion Democratic coronavirus stimulus plan on Thursday night even as Democrats and the Trump administration struggle to strike a relief deal.
The chamber approved the legislation in a 214-207 vote. Eighteen Democrats voted against the measure as lawmakers in competitive districts grow wary of the ongoing impasse over aid.
The bill likely will not get through the Republican-held Senate and become law. Senate Majority Leader Mitch McConnell has opposed the legislation as his caucus resists spending trillions more on the federal response to the pandemic.
The vote followed a Thursday conversation between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin in which they did not forge an aid agreement but agreed to continue talks. They failed to bridge a gulf on a range of issues, including how much aid to send state and local governments and whether to establish a liability shield for businesses and schools.
Earlier in the day, Pelosi downplayed the possibility that talks with Mnuchin this week offered the last, best chance to approve more relief before the Nov. 3 election. But it is unclear now what could make either side budge, as Democrats call for a sweeping package to boost the economy and health-care system and the GOP worries about injecting too much money into the response.
Nearly all of the 45 available parking spaces were full Wednesday afternoon as GetGo celebrated the grand opening of its 266th location along Route 30 in Hempfield.
Located at the intersection of Lewis Avenue, near the border of Jeannette, the 6,000-square-foot cafe and market employs 35. Offering made-to-order food, as well as convenience items and fuel, the store had a soft opening Sept. 9.
Formerly the site of a PNC Bank branch, the location offers accessibility from Route 30 and close proximity to customers in Hempfield and Jeannette, GetGo spokesman Dan Donovan said.
As part of the celebration, GetGo presented Hempfield Area and Jeannette high schools each with $5,000.
The home improvement retailer officially announced plans to open at the Hollywood Squares shopping plaza off Route 22 with a target date of next May . At 55,000 square feet, it will be one of the chain’s largest stores among its locations throughout Western Pennsylvania, eastern Ohio and northern West Virginia.
“The Delmont (Salem) location is a great fit for us in terms of demographics and geography,” CEO Joe Kallen said. “It’s a high-visibility location and easily accessible on the Route 22 corridor. The building itself is an ideal fit for us, since there aren’t too many big-box structures in the area.”
The company plans to hire between 40 and 50 full- and part-time employees, Kallen said. Plans for the store include a lumber yard, pet and farm departments, a designated contractor service center and an expanded outdoor garden center.
Busy Beaver was founded in 1962 with lumber yards in Verona, Clairton and Carnegie. Today, the company operates 24 stores with more than 550 employees.
Gov. Tom Wolf’s administration reiterated that he will not extend his executive order halting evictions and foreclosures in Pennsylvania because of legal limits that prevent him from taking further action.
In a statement, Mr. Wolf’s office said it had explored the possibility that it could build off of the Federal Housing Administration’s Thursday extension of its national foreclosure and eviction moratorium through December.
“But after a thorough legal review, we have determined that the governor cannot extend the executive order to reach additional Pennsylvanians who are not benefiting from the federal extensions and a legislative fix is necessary in order to protect homeowners and renters from eviction,” Mr. Wolf’s office said.
The Federal Housing Administration’s moratorium protects homeowners with FHA-insured single family mortgages.
Patriot Shield started operating in the warehouse in September without getting an occupancy permit or building inspection from the city. Farmers brought their hemp crop there to be dried into smokable hemp flowers, which taste like marijuana but lack the THC necessary to get users high.
Neighbors complained about the odor that emanated from the warehouse for weeks. It brought up to 200 jobs, but many workers started protesting outside of the building after not receiving paychecks.
That issue still has not been rectified, two former employees told the Tribune-Review. The state Department of Labor and Industry’s Bureau of Labor Law Compliance performed an audit of the company, according to a letter obtained by the Trib. The department did not respond to a request for comment about the pay situation.
President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers’ paychecks. But the move is temporary, and could spark headaches in 2021.
Asian shares were led higher by S&P 500 futures on Monday and oil prices hit a five-week peak as countries’ efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
Summer weather is enticing much of the world to emerge from coronavirus lockdowns as centres of the outbreak from New York to Italy and Spain gradually lift restrictions that have kept millions cooped up for months.
“The economies of Europe and the U.S. likely bottomed out in April and are slowly starting to come back to life,” wrote Barclays economist Christian Keller in a note.
“However, incoming data from most economies highlight the depth of the contraction, raising risks of longer-term scarring that might undermine the recovery.”
Federal Reserve Chairman Jerome Powell took a cautious line in an interview over the weekend, saying a U.S. economic recovery may stretch deep into next year and a full comeback might depend on a coronavirus vaccine.
Late Sunday, Powell outlined the likely need for three to six more months of government financial help for firms and families.
Data out on Friday showed retail sales and industrial production both plunged in April, putting the U.S. economy on track for its deepest contraction since the Great Depression.
New York (CNN Business)Okay, so if you’re a loyal reader of CNN Business (and we hope you are!) you might have seen a headline Tuesday that said “Prices are falling at an alarming rate.” Or a headline today that said producers’ prices fell by a record amount.
That probably feels … off to you. And for a good reason: Every time you go to the grocery store, that number at the end of the receipt keeps getting bigger.
Both things are true. Prices are falling across just about every category: Apparel, hotels, cars, car insurance, and airfare fell through the floor as people stayed home. Everyone knows gas prices are way cheaper.
But American grocery store price tags are soaring. Overall, the price of groceries grew 2.6%, including seasonal adjustments, in April. That was the biggest increase from one month to the next since 1974, according to the Bureau of Labor Statistics.
PITTSBURGH (KDKA) – The restaurant industry, one of the biggest employers in the region, is now facing dire consequences.
KDKA’s Paul Martino reports many restaurant experts believe more than a third of area eateries may close for good. Experts he’s spoken with believe as many as 20, 30 of even 40 percent of area restaurants are closing for good.
The restaurant industry had been decimated by the pandemic. Restaurants that have been around for decades, like Alexander’s in Bloomfield, won’t survive the pandemic.
(Photo Credit: Alexander’s Italian Bistro)
Thousands of servers, bartenders, chefs and more once worked at Pittsburgh-area restaurants. But not anymore. Long time restaurant owners like Ron Sofranko say many of those jobs aren’t coming back.
The other hard reality is that folks may not feel safe to go out and dine for a long time.
One other restaurant trend to watch for: many of them may be filing for bankruptcy to hold off their creditors during the pandemic.
