A developer of artificial intelligence data centers wants to build a $3.6 billion, 1.65 million square-foot campus in Lordstown. Bristolville 25 Developer LLC of New York, New York, sees the project as beneficial and transformative. Local officials echo that view. However, a potential ban ...
Staff, wire report General Motors is laying off about 1,700 workers across manufacturing sites in Lordstown and Michigan as the auto giant adjusts to slowing demand for electric vehicles. The Detroit News first reported the cuts Wednesday — covering about 1,200 jobs at an all-electric plant in the Detroit area and 550 workers at the Ultium Cells battery cell plant in Lordstown, in addition to hundreds of other employees slated for temporary layoffs. GM later confirmed the news to The Associated Press. “In response to slower near-term EV adoption and an evolving regulatory ...
WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring, even as inflation stays elevated. But Fed Chair Jerome Powell also cautioned that further rate cuts weren’t guaranteed, citing the government shutdown’s interruption of economic reports and sharp divisions among 19 Fed officials who participate in the central bank’s interest-rate deliberations. Speaking to reporters after the Fed announced its rate decision, Powell said there were “strongly differing views about how to ...
WASHINGTON (AP) — The Federal Reserve will almost certainly cut its key interest rate on Wednesday and could signal it expects another cut in December as the central bank seeks to bolster hiring. A cut Wednesday would be the second this year and could benefit consumers by bringing down borrowing costs for mortgages and auto loans. Since Fed chair Jerome Powell strongly signaled in late August that rate cuts were likely this year, the average 30-year mortgage rate has fallen to about 6.2% from 6.6%, providing a boost to the otherwise-sluggish housing market. Still, the Fed is ...
A specialized steel producer expects to create 40 full-time positions after receiving state assistance Monday to expand its Youngstown operations. The Ohio Tax Credit Authority, meeting in Columbus, approved a 1.126%, seven-year Job Creation Tax Credit for Vallourec Star LP’s project. ...
NEW YORK (AP) — Stocks climbed to more records on Monday ahead of a week packed with potentially market-moving events for Wall Street. The S&P 500 rose 1.2%. The Dow Jones Industrial Average added 337 points, or 0.7%, and the Nasdaq composite jumped 1.9%. Each of the trio set an all-time high for a second straight day. Stocks also rallied in Asia ahead of a meeting on Thursday between the heads of the United States and China. The hope is that the talks could clear rising tensions between the world’s two largest economies and allow the global economy to keep motoring. U.S. ...
