5 former Crozer Health outpatient facilities to be purchased by ChristianaCare
Good news for Delaware County as some of the shuttered Crozer health facilities will soon re-open again under Delaware-based ChristianaCare, who has agreed to buy five outpatient facilities.
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Yahoo
21 minutes ago
- Yahoo
Trump to celebrate 'partnership' between US Steel and Nippon Steel, a merger he once opposed
President Donald Trump on Friday visits Pittsburgh to celebrate what he says is a "planned partnership" between U.S. Steel and the Japanese company Nippon Steel, after previously opposing a merger. Trump is set to deliver remarks at 5 p.m. ET about the "U.S. Steel Deal" at a rally at the Irvin Works in Allegheny County, according to the White House. Trump announced the agreement on his conservative social media platform last week. He said it will create at least 70,000 jobs and add $14 billion to the American economy. The "investment," he wrote, would take place over the next 14 months and keep U.S. Steel headquartered in Pennsylvania. Trump, during the 2024 campaign, pledged to block the Japanese steelmaker from purchasing U.S. Steel. As president-elect, he repeated that vow. "I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan," Trump wrote in a post to his conservative social media platform in early December. The Biden administration in January blocked the sale of U.S. Steel to Nippon Steel over national security concerns. The White House said at the time it was important to keep one of the largest steel producers in the nation an American-owned company. MORE: Biden blocks US Steel takeover by Japan-based Nippon The reaction was mixed. The president of the United Steelworkers union, which represents hundreds of thousands of workers, celebrated the move while local leaders expressed concern about U.S. Steel's future in southwestern Pennsylvania. Weeks after the inauguration, Trump met with U.S. Steel CEO David Burritt at the White House. In early April, he ordered a new national security review of Nippon Steel's proposed bid to acquire U.S. Steel. The White House has provided few details, other than those mentioned by Trump in his social media post, about the agreement. Peter Navarro, Trump's trade adviser, insisted on Thursday that U.S. Steel "owns" the company. "Nippon Steel is going to have some involvement but no control of the company," Navarro told reporters outside the White House, though he didn't take any more questions on the agreement. Nippon was seeking 100% ownership of U.S. Steel in talks with Trump, Nikkei Asia reported earlier this month. U.S. Steel issued a brief statement last week in which it said Trump "is a bold leader and businessman who knows how to get the best deal for America." "U. S. Steel will remain American, and we will grow bigger and stronger through a partnership with Nippon Steel that brings massive investment, new technologies and thousands of jobs over the next four years," the company said without sharing more specifics. Trump to celebrate 'partnership' between US Steel and Nippon Steel, a merger he once opposed originally appeared on
New York Post
27 minutes ago
- New York Post
Gap shares tank after company warns Trump's tariffs could squeeze profit by $150M
Gap shares tanked Friday after the retailer warned that President Trump's tariffs could take a $150 million bite out of its bottom line in 2025. The San Francisco-based company — which owns Banana Republic, Old Navy and Atheleta — reported first-quarter earnings Friday that beat Wall Street's expectations – but noted that tariffs are a looming threat to its profit margin. Gap's shares plunged 20%, to $22,40, as of 11:45 a.m. ET. Advertisement 3 Shares of Gap, which also owns Old Navy, plunged on Friday. AFP via Getty Images At least three brokerages trimmed price targets on the stock, with Jefferies cutting it by the most, to $26 from $29. 'Banana Republic and Athleta likely need much reinvestment to drive consistent positive comparable sales and margin expansion, in our view,' UBS analyst Jay Sole said. Advertisement Under the leadership of Richard Dickson, who took helm in 2023, Gap laid out plans to double the use of America-grown cotton by 2026, with executives on a post-earnings call saying that investing in the US, its biggest market, remains a key priority. It has been diversifying its supplier footprint for several years, and currently has a less than 10% exposure to China. The region was one of its top manufacturing hubs, followed by Vietnam and Indonesia. It aims for no country to account for more than 25% by the end of 2026. 'In this highly dynamic environment, we are optimistic yet realistic and remain focused on controlling the controllables as we build our company for long term growth,' Dickson said in a statement. The retailer said comparable sales at its brands rose by 2% – better than the 1.7% increase Wall Street had expected – and revenues were up 2% to $3.5 billion. Advertisement 3 Gap warned that tariffs are a looming threat to its profit margin. Getty Images Gap reported earnings of 51 cents a share, compared with the 45 cents a share Wall Street had forecasted. The company did not change its guidance for the year, saying it expected to turn in sales growth of between 1% and 2% and operating income growth of between 8% and 10% to $1.1 billion. Gap said its fiscal guidance does 'not reflect the potential effects of tariffs.' Advertisement But if hefty tariff rates of 30% on goods made in China and 10% on goods made in most other countries are not lowered, Gap's profits will be dinged by $100 to $150 million, mostly in the second half of the year, the company said. 3 If hefty tariff rates of 30% on goods made in China and 10% on goods made in most other countries are not lowered, Gap's profits will be dinged by $100 to $150 million, mostly in the second half of the year, the company said. JHVEPhoto – Trump's trade policy has threatened to upend supply chains and push up prices for everyday essentials. US businesses are holding out hope that the courts will blunt the full force of tariffs after the US Court of International Trade in Manhattan ruled that President Trump did not have unilateral authority to assess tariffs on foreign countries. A federal appeals court put the ruling on hold on Thursday after the Justice Department appealed it. With Post wires
Yahoo
29 minutes ago
- Yahoo
AdventHealth taps Brasfield & Gorrie for $660M medical tower
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Award: Hospital tower Value: $660 million Location: Orlando, Florida Client: AdventHealth Orlando AdventHealth Orlando has tapped Birmingham, Alabama-based contractor Brasfield & Gorrie to build a 14-story medical tower as the centerpiece of a $1 billion investment from the health system, according to a May 14 news release. The tower comes with a $660 million price tag, according to Health News Florida. Located on AdventHealth's 172-acre campus in downtown Orlando, the facility will have capacity for 24 operating rooms and 440 inpatient beds. It will also provide endoscopy and imaging services. Brasfield & Gorrie, which had $6.4 billion in revenue in 2024 according to Engineering News-Record, has long focused on the healthcare market. It boasts a portfolio ofover 3,100 projects in the sector with a value of $23.2 billion, according to its website. Other aspects of AdventHealth's investment in its Orlando campus include the development of: Advanced services and technologies such as robot-assisted kidney transplants. Its Genomics Risk Assessment for Cancer and Early Detection program, which uses a patient's family history, medical history and artificial intelligence data to assess potential risk. The Little Miracles Unit, which provides more intensive care for infants born as early as 22 weeks. 'This project is paving the way for our Orlando campus to become America's epicenter for surgical advancement, breakthrough treatments, pioneering research and medical education – all centered on our whole-person health philosophy,' said AdventHealth Orlando CEO Rob Deininger in the release. Today, AdventHealth Orlando is home to 24 accredited programs, with 358 accredited residents and fellows. With the investment, it aims to add seven more programs and an additional 109 residents and fellows. The campus currently employs nearly 10,000 people and is on pace to enroll nearly 2,000 students at AdventHealth University, with a goal of 3,000 students when the tower opens. The tower's completion is slated for 2030, according to the release
