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Carnegie Mellon faculty and students have been building self-driving car technology for decades, but only in the last few years has it become an industry. “A lot of this has been research lab work that were concepts and dreams that are now getting to reality and giving people career opportunities,” said Peter Rander, president of Pittsburgh self-driving car company Argo AI. Twenty-three start-ups came out of the University of Pittsburgh in the last fiscal year, a record for the third straight year. Innovation Works, an early-stage investment fund that backs local companies, is meeting with about four times as many start-ups than it did a decade ago, said President and CEO Rich Lunak.

Global investors are starting to pay attention, too, SoftBank Group Corp (9984.T) last year led a $93 million investment in Pittsburgh-based AI company Petuum, Innovation Works recently hosted 30 Chinese university of nebraska cornhuskers cufflinks investors interested in robotics and health care start-ups, Lunak said, Uber’s self-driving business, which opened in January 2015, employs more than 1,000 people, Aurora, a start-up led by self-driving pioneer Chris Urmson, in March opened a new office in the Lawrenceville neighborhood, once a working-class area that’s now bustling with new construction, night life and high-end apartment buildings..

Start-up boosters are hopeful that Duolingo, a language-learning app founded by a Carnegie Mellon graduate and now valued at $700 million, could provide the city with a big tech IPO. Housing prices in the city are up 36 percent over the last five years, according to ATTOM Data Solutions. But the median home price of $170,00 hardly conjures up the real estate frenzy that swept Silicon Valley. Nowhere is the tension between haves and have-nots more visible than in the East Liberty neighborhood. Historically African-American and troubled by high crime - and the target of redevelopment efforts for decades - the neighborhood is a mélange of old mom-and-pop shops and upscale retailers and eateries catering to young professionals.

Sam’s Shoes, which opened in the 1960s and is the oldest business in the neighborhood, sits alongside a dollar store and across from trendy retailers Bonobos and Warby Parker, Sam Arabia, 58, who inherited the store from his father, points to the new apartment building across the street, “They’re all Google employees, They shop online,” he said, “Not like the old customers.”, Thomas Holland, who opened a T-shirt and ball cap printing university of nebraska cornhuskers cufflinks store in East Liberty 40 years ago, said the tech renaissance will bring higher costs, not a better life, for people in his neighborhood..

“What wealth?” said Holland, 67. “We haven’t experienced that yet.”. Peduto, the mayor, said the city is working on programs “to allow people who have lived through the bad times to be a part of the good times.” That includes a $10 million affordable housing fund. “This is a city that has seen 70 years of decline,” said Christopher Briem, a regional economist at the University of Pittsburgh. “These issues of how to deal with or manage this type of growth are new here in Pittsburgh.”.

GDYNIA/LONDON (Reuters) - ArcelorMittal, the world’s largest steel producer, has agreed the sale of plants in the Czech Republic, Romania, Macedonia and Italy to Liberty university of nebraska cornhuskers cufflinks House to satisfy regulatory requirements for its acquisition of Italian steelmaker Ilva, The announcement by ArcelorMittal on Friday did not disclose the value of the disposals, though investment bank Jefferies said they are unlikely to achieve a book value it estimates at $1 billion, The sales satisfy part of an agreement with the European Commission, which approved the acquisition of Ilva - Italy’s largest steel plant by capacity - after ArcelorMittal pledged to sell a string of businesses across Europe to address competition concerns..

ArcelorMittal said talks were ongoing for the sale of ArcelorMittal Dudelange in Luxembourg and several finishing lines in Liege, Belgium, which were the other assets included in the agreement with the European Commission. “Given a poor recent earnings track record, all disposal assets (including Dudelange and Liege) would be worth circa $750 million to $950 million on a peer-based EV/EBITDA basis,” said Jefferies in a note that reiterated its ‘buy’ rating on the stock. “While there remains a wide range of expectations for disposal proceeds, this is sure to surpass the 180 million euros per annum that ArcelorMittal is paying the Italian state to acquire Ilva.”.

ArcelorMittal signed a preliminary agreement to pay 1.8 billion euros over 10 years for Ilva, It also promised to invest 1.2 billion euros to boost productivity university of nebraska cornhuskers cufflinks and 1.1 billion euros to reduce pollution, German steelmaker Salzgitter said it has submitted an offer for ArcelorMittal assets, while there is talk in the market that Russian steelmaker NLMK is also in the running, ArcelorMittal said the closing of the deal with Liberty House, one of the world’s largest privately owned industrial groups with operations covering more than 30 countries, is subject to completion of the Ilva acquisition..

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