Supervalu to cut jobs
Supervalu is eliminating about 1,100 positions nationwide, or about 3 percent of its workforce, less than a week after the supermarket operator sold five of its grocery chains. The company said the remaining business will need "significantly fewer" corporate and store support roles and functions. Store-level employees and the Save-A-Lot chain are generally not affected.
The company's wholesale operation, which supplies Shop 'n Save and Foodland stores in the Pittsburgh area, has a distribution center in New Stanton. A company spokesman did not have details on how such centers might be affected.
Trampoline park to open here
Sky Zone, an original indoor trampoline park, is set to open its first location in the Pittsburgh market next month in Leetsdale. The chain, which lists more than 30 sites on its website, expands through franchising.
Consumer confidence falls
Americans are less confident in the economy than they were last month as massive government spending cuts have stoked economic uncertainty. The Conference Board, a New York-based private research group, said its Consumer Confidence Index fell in March to 59.7 from a revised reading of 68 in February. Confidence is still far off from the 90 reading that indicates a healthy economy.
T-Mobile to offer iPhone 5
T-Mobile USA on Tuesday said it will start offering the iPhone 5 on April 12, filling what its CEO said was "a huge void" in its phone lineup. T-Mobile, the fourth-largest of the national U.S. phone companies, has not been able to offer high-speed data service to iPhones.
New home sales rate declines
Sales of new homes dropped to a seasonally adjusted annual rate of 411,000 in February, the Commerce Department reported Tuesday. That is a decline of 4.6 percent from the January level of 431,000, which had been the strongest sales pace since September 2008. The median price of a new home sold in February was $246,800, up 2.9 percent from a year ago.
Aircraft goods lift orders
A surge in commercial aircraft demand pushed orders for U.S. long-lasting manufactured goods up sharply in February. Overall orders for durable goods surged 5.7 percent in February from January, the Commerce Department said Tuesday.
Orders for so-called core capital goods, which strip out volatile aircraft and defense orders and provide a better indication of the trend in business investment, declined 2.7 percent in February from January.
Berkshire gets more Goldman
Warren Buffett's company will likely become one of the biggest shareholders in Goldman Sachs Group Inc. later this year. Berkshire and Goldman said Tuesday they had renegotiated an agreement that gave Berkshire the right to buy 43.5 million shares of the investment bank for $115 per share. Now the 2008 deal will be settled with stock this fall.