Top News & Analysis Pennsylvania

  • NEW YORK, Dec 6- A plan to pay seven executives of the bankrupt Philadelphia Energy Solutions oil refiner as much as $20 million in bonuses after the company shut its operation and laid off its workforce should be rejected, the U.S. government's bankruptcy watchdog said on Friday. The proposed key employee incentive plan has not proven to be necessary or standard,...

  • WASHINGTON, Dec 6- The U.S. Supreme Court on Friday agreed to decide whether the state of Delaware's system of requiring ideologically balanced courts is lawful. Delaware courts play an outsized role in judicial matters in the United States, having a good reputation within the business community for resolving corporate disputes. The law requires that no more...

  • ASTON MARTIN CEO, ASKED ABOUT MEDIA REPORT ON POSSIBLE STAKE BID FROM LAWRENCE STROLL, SAYS CAN'T COMMENT, YOU KNOW WHAT WE WOULD HAVE TO DO IF THERE WAS AN OFFICIAL APPROACH.

  • *Trade deficit falls 7.6% to $47.2 bln in October. WASHINGTON, Dec 5- The U.S. trade deficit dropped to its lowest level in nearly 1-1/ 2 years in October, suggesting trade could contribute to economic growth in the fourth quarter, though a fall in imports of consumer goods hinted at a slowdown in domestic demand. The Commerce Department said the trade deficit tumbled...

  • The metal is being made by Elysis, a Montreal- based joint venture of Alcoa Corp and Rio Tinto announced last year with $144 million in funding from the two companies, Apple and the governments of Canada and Quebec. The aluminum will be shipped this month from an Alcoa research facility in Pittsburgh and used in Apple products, although the technology company did...

  • Dec 5- U.S. stocks looked set to open higher on Thursday on brighter hopes of a preliminary trade deal between the United States and China. Headlines around trade suggested the world's two largest economies were closer to agreeing how many tariffs would be rolled back in a "phase one" trade deal, while President Donald Trump said talks with China were going "very...

  • *Trump says no deadline for China deal. Dec 3- Wall Street's main indexes hovered near one-month lows on Tuesday, as comments from President Donald Trump and Commerce Secretary Wilbur Ross stoked fears of a significant delay in resolving a trade dispute with China. "This is sort of a last-minute negotiation tactic," said Robert Pavlik, chief investment strategist...

  • *Trump to restore tariffs on Brazil, Argentina imports. Dec 2- Wall Street's main indexes were set to open flat on Monday as President Donald Trump said he would restore tariffs on metal imports from Brazil and Argentina, with investors shrugging off a surprise rise in Chinese manufacturing activity. Trump said in a tweet he would immediately restore tariffs on...

  • Democratic presidential candidate and former Rep. Joe Sestak (D-PA) speaks during the Democratic Presidential Committee (DNC) summer meeting on August 23, 2019 in San Francisco.

    Joe Sestak, a long-shot contender who announced his candidacy in June, dropped out of the presidential race.

  • NEW YORK, Nov 29- U.S. crude oil production in September rose to a new record of 12.46 million barrels per day from 12.397 million bpd in August, the U.S. government said in a monthly report on Friday. Oil output in Texas rose 72,000 bpd in September, while production in North Dakota and the Gulf of Mexico fell during the month. In Texas, the biggest gas producing state,...

  • *Under Armour rises on Raymond James upgrade. Nov 27- Wall Street's main indexes were set to open slightly higher on Wednesday, as latest data pointed to a resilient domestic economy and investors remained optimistic about a resolution to the prolonged U.S.- China trade war. "There's that drumbeat about an impending trade deal and that's going to keep stocks...

  • *Weekly jobless claims unchanged at 227,000. WASHINGTON, Nov 21- The number of Americans filing applications for unemployment benefits was unexpectedly unchanged at a five-month high last week, suggesting some softening in the labor market. The persistent weakness in manufacturing is despite an easing in tensions in the 16- month trade war between the...

  • WASHINGTON, Nov 21- The number of Americans filing applications for unemployment benefits was unexpectedly unchanged at a five-month high last week, suggesting some softening in the labor market. The persistent weakness in manufacturing is despite an easing in tensions in the 16- month trade war between the United States and China, which has depressed...

  • Austin is one of the fastest-growing U.S. cities, with a population of about 1 million, and is home to the University of Texas and other tech companies, including Dell Technologies Inc in nearby Round Rock, Texas. Apple currently employs about 7,000 employees in Austin. The company also continues its expansion in Boulder, Culver City, New York, Pittsburgh, San Diego...

  • WASHINGTON, Nov 19- A "phase one" trade deal between the United States and China was supposed to be a limited agreement that would allow leaders from both countries to claim an easy victory while soothing financial markets. Two people briefed on the talks said Trump has decided that rolling back existing tariffs, in addition to canceling a scheduled Dec. 15...

  • WASHINGTON, Nov 19- A U.S. safety agency on Tuesday faulted Uber for inadequate attention to safety and decisions in the company's autonomous vehicle development in an investigation into the first-ever death involving a self-driving vehicle, which also cited the vehicle's distracted back-up driver. The National Transportation Safety Board said state and...

  • WASHINGTON, Nov 19- The chairman of the U.S. National Transportation Safety Board offered a harsh critique of Uber Technologies Inc's overall approach to safety in draft findings released on Tuesday of a fatal self-driving car crash in Arizona in March 2018. The NTSB submitted draft findings in Sumwalt's written testimony Congress ahead of a Senate hearing...

  • Powdered aluminum from Tennessee is shipped to Pennsylvania and forged at high temperatures into connecting rods for the pistons, which are then sent to Canada to be shaped and polished. They are then shipped to Mexico for sub-assembly and finally the finished pistons are loaded onto trucks bound for Romulus to become part of a GM V-6 engine.

  • NEW YORK, Nov 15- The strength of the U.S. consumer has been often cited as a pillar of the economy and one of the reasons the S&P 500 has recently scaled new heights, but consumer discretionary stocks have skipped the party for several months. The S&P consumer discretionary sector hit a record high on July 15. Bank of America Merrill Lynch said its U.S. consumer...

  • *U.S., China getting close to trade deal- White House adviser. Nov 15- Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.- China trade tensions and by big gains in shares of healthcare companies. White House economic adviser Larry Kudlow said late on Thursday that the United States and China...