Choose your location
Pittsburgh Business Times
PNC on track for record NII in 2025, CEO says as bank posts Q2 earning
PNC on Tuesday reported second-quarter earnings that topped its performance a year ago as well as Wall Street's projections, and its top executive said the Pittsburgh-based bank was on track to realize record net interest income in 2025, a goal it has touted since last fall.<\p> Bill Demchak, CEO and chairman, said PNC delivered strong results in the second quarter, generating positive operating leverage through revenue growth and well-controlled expenses. It also added customers and strengthened its capital levels. <\p>
JV holds groundbreaking 2.0 for Washington County industrial project
Five years after a previous groundbreaking to clear a long neglected industrial property for a new use, Crossgates Inc. and a new partner held a new groundbreaking to kick off construction on what's expected to be the first new industrial building of major scale in Washington County in many years.<\p> The project is the redevelopment of the former Brockway Glass Plant, a relic from another age that had been decaying into a brownfield at a rail-served site of nearly 20 acres near the junction of Interstates 79 and 70 in Canton Township, Washington County. <\p>
Woodside Ventures stakes women's athletic apparel brand
Woodside Ventures, a Pittsburgh-based investor, has acquired a majority interest in Goal Five and is moving the company's headquarters from Oakland, California, to Pittsburgh.<\p> Moussa Coulibaly, recently retired from Dick's Sporting Goods Inc., has been tapped as CEO. <\p>
Events moved quickly for Butler Memorial Hospital over the weekend
For several hours Saturday night, the attention of the world was on Butler Memorial Hospital, the hospital where former President Donald Trump was brought following the assassination attempt.<\p> Trump was hustled off the stage by Secret Service agents following the shooting at the farm show grounds in Butler. He spent a little less than three hours at Butler Memorial Hospital, which is only a few miles from the scene of the shooting and is the largest acute care hospital in Butler County with 296 beds.<\p>
Around Town: Ellen's House and Heritage Community Initiatives (photos)
Toggle through the slideshow above to view photos of recent events in the Pittsburgh business community.<\p> On July 10, the Ellen O’Brien Gaiser Center, an organization that runs a treatment program in the region for those suffering from alcohol and substance use disorders, opened its newest location, Ellen’s House, in Butler County. Ellen’s House will serve as a sober living home for women and children in Butler. The home, located on East Brady Street, will be able to house up to 12 women at a time and provide them with stability and support as they prepare to live independently. They will also participate in mutual support groups. The organization purchased the home in 2023 and renovated it, with funding from Butler County.<\p>
Personalities of Pittsburgh: Nicole Molinaro, Women's Center & Shelter
Nicole Molinaro is the president and CEO of the Women’s Center & Shelter of Greater Pittsburgh, where she works with adult and child survivors of domestic violence or intimate partner violence to offer them help and hope. The center provides services to over 7,500 individuals every year. Molinaro said the “women’s” and “shelter” parts of the name can be misleading, as only 4% of clients need shelter, and even though domestic violence is historically a gender-based crime, anybody can experience it and the center serves everybody. Molinaro said she is very grateful to have grown up in a loving family;...
How AHN, AGH leaped into action to help Trump rally shooting victims
When Allegheny Health Network personnel arrived at the Butler Farm Show grounds on Saturday hours before the Trump rally was to begin, they weren’t there to provide general medical care, but instead to offer care to the tactical team on the scene. But when shots rang out in an assassination attempt against former President Donald Trump, AHN medics leaped into action. <\p> Federal and state officials confirmed not too long afterward that two critically injured men were brought to AHN Allegheny General Hospital on Pittsburgh’s North Side, about 30 miles from Butler. They were in stable condition, according to Pennsylvania State Police. But what hasn’t been discussed publicly are the details of how emergency medical teams, from Butler Memorial Hospital, Butler County EMS and Allegheny Health Network cared for their patients on the scene and in the hospitals in Butler and Pittsburgh. <\p>
Frank B. Fuhrer Wholesale Co. buys beverage business
Frank B. Fuhrer Wholesale Co. is ready to quench a growing thirst for a host of beverages that have nothing to do with its typical trade in malt, hops, yeast and water.<\p> Long the region's largest beer distributor, the South Side-based company has bought the beverage division of Alber & Leff Foods Co. which it is renaming as the Fuhrer Beverage Co.<\p>
Popular fashion outlet announced for Streets of Cranberry
J. Crew Factory, the discount outlet version of the popular clothing store now operating with a location at Ross Park Mall, is coming to the Streets of Cranberry.<\p> The new store is expected to open in the fourth quarter of this year, according to Herky Pollock, a principal of Regional Development Partners, which bought the 107,000-square-foot shopping center last October. J. Crew Factory is expected to move into a 6,500-square-foot location, replacing Sheila's Home Decor & Gifts.<\p>
Newest shareholder at Tucker Arensberg is a federal public defender
Tucker Arensberg PC announced that veteran attorney Heidi Freese has joined the firm as a shareholder.<\p> Freese has an extensive background in federal criminal defense, the firm said. <\p>
NVR closes on local golf course buy for new residential project
NVR Inc. (NYSE: NVR), best known to the public as Ryan Homes, recently closed on buying the Willowbrook Golf Course in Rostraver Township, Westmoreland County.<\p> But what might seem like a routine business occurrence may feel like a curious anniversary of sorts for Jason Campagna, the managing director and senior advisor for SVN Three Rivers Commercial Advisors, who represented the golf course for sale.<\p>
CMBS apartment distress surges as operators struggle to refinance
Distress in the multifamily sector of commercial real estate is mounting as debt issued during a time of ultra-low interest rates is coming due.<\p> Among commercial mortgage-backed securities loans for single-borrower, large multifamily properties, the rate of distress is up 185% in the past six months, according to an analysis by Wayne, Pennsylvania-based commercial real estate data-analytics platform CRED iQ.<\p>
Cleveland-Cliffs to acquire former U.S. Steel subsidiary
Cleveland-Cliffs Inc., spurned by U.S. Steel Corp. in its acquisition attempts, will instead buy the former Canadian subsidiary of the Pittsburgh-based manufacturer.<\p> Cliffs (NYSE: CLF) announced Monday it would acquire Stelco Holdings Inc. (TSX: STLC), an integrated steelmaker based in Ontario that had once been known as U.S. Steel Canada. The deal includes $60 Canadian dollars ($47.65) and 0.454 shares of Cliffs stock for each share of Stelco common stock, with an enterprise value of $2.5 billion.<\p>
Buffalo Township engineer killed at Trump rally
A 50-year-old Buffalo Township man was killed Saturday evening during an assassination attempt on former President Donald Trump during a rally in Butler.<\p> Corey Comperatore was identified Sunday as the man attending the rally who was killed when the shots rang out after 6 p.m. Saturday as Trump began his remarks. Two other attendees were critically wounded and airlifted to AHN Allegheny General Hospital in Pittsburgh; Trump was treated for wounds at Butler Memorial Hospital and released.<\p>
FBI asks for help from public to investigate attempted assassination
FBI and state police were scouring Butler County and elsewhere around the Pittsburgh region late Saturday and early Sunday in the wake of the attempted assassination of former President Donald Trump. One of the centers of the investigation was the rooftop at a nearby complex where the shooter fired the shots.<\p> “It’s still an active crime scene,” said Kevin Rojek, special agent in charge of the Pittsburgh Field Office of the FBI during a late-night news conference.<\p>
Former President Trump wounded at Butler County rally
Former President Donald Trump was wounded and rushed to a Butler County hospital after a gunman fired multiple shots during an assassination attempt at a campaign rally Saturday evening in Butler. <\p> One person in the crowd was killed in the gunfire and two others critically wounded and transported by helicopter to AHN Allegheny General Hospital. The suspected shooter is dead.<\p>
Pitt to raise tuition for in-state students at main campus by 2%
Less than one day after the Pennsylvania State Legislature passed the state operating budget, granting the University of Pittsburgh and other state-related universities millions of dollars in funding, Pitt has officially passed its own operating budget for the coming year.<\p> The University of Pittsburgh board of trustees met on Friday to discuss and vote on the proposed $3.2 billion budget, which does include the $155 million that the state has granted for the university, an amount that remains flat over the past five years. <\p>
Here's what Pa. budget has for rural hospitals, long-term care
Pennsylvania's new budget will put some money toward helping the commonwealth's rural hospitals survive financial tough times.<\p> The $46 billion budget, which was signed late Thursday by Gov. Josh Shapiro, includes $34.5 million set aside to help rural hospitals and Pennsylvanians in those areas keep access to health care. There is $10 million set aside for supplemental one-time payments to help stabilize the finances of rural hospitals. There's also money to study what else can be done to get rural hospitals on a better financial track.<\p>
Local leaders, organizations react to new PA budget
Late Thursday night, after months of negotiations and discussion, Pennsylvania Gov. Josh Shapiro signed a state budget for 2024-2025.<\p> The signing came nearly two weeks late, as the state was operating without a budget for 11 days. In the end, the $47.6 billion budget was a comprehensive spending plan and a testament to bipartisanship.<\p>
Pittsburgh Business Times
7K+
Posts
696K+
Views
The Pittsburgh region's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.