Los Angeles Times: Business
- Uber will pay $20 million to settle lawsuit over question of whether drivers are employees
Tuesday - 03/12/2019 - 03:05 PMUber Technologies Inc. will pay $20 million to settle California lawsuits challenging the company’s classification of drivers as independent contractors, rather than employees owed the benefits of traditional employment. Resolution of the long-standing fight over benefits and pay comes as Uber...
More | Talk | Read It Later | Share - Spirit Airlines to serve Burbank Airport with super cheap flights to Las Vegas
Tuesday - 03/12/2019 - 01:00 PMSpirit Airlines is bringing its ultra low-cost brand of service to Hollywood Burbank Airport this summer, with plans to target budget-minded fans of Sin City. The Florida-based carrier announced plans Tuesday to begin serving the Burbank airport in June, with three daily flights to Las Vegas.More | Talk | Read It Later | Share
- More refunds are being made with prepaid debit cards. Is that a good thing for consumers?
Tuesday - 03/12/2019 - 08:00 AMSeal Beach resident Tom Hazelleaf canceled his 90-year-old mom’s Spectrum cable service after she moved recently to an assisted-living facility. He schlepped all her cable gear to a Spectrum store, where he was told that because the company bills in advance, his mom was owed a refund of just over...
More | Talk | Read It Later | Share - U.S. airlines express confidence in Boeing's 737 Max, despite calls for grounding
Monday - 03/11/2019 - 08:20 PMAfter a second fatal air crash involving a Boeing 737 Max aircraft, U.S. airlines faced calls and emails from nervous passengers asking if the single-aisle, twin-engine plane is safe. A U.S.More | Talk | Read It Later | Share
- DirecTV Now prices will rise as AT&T pushes for profit
Monday - 03/11/2019 - 06:40 PMAT&T Inc. is reportedly raising prices on its online-TV service, DirecTV Now, a sign that the company is putting profit ahead of subscriber growth. Starting next month, customers will see a $10 increase, according to a report on Cord Cutters News.More | Talk | Read It Later | Share
- Elizabeth Warren: ‘It’s not even hard’ to break up Amazon and other tech giants
Monday - 03/11/2019 - 06:10 PMSouth by Southwest can be a kingmaker for the buzziest new apps — Twitter and Foursquare first took off in previous festivals here. But this year, the talk of the town is whether it's time to break up the technology giants.More | Talk | Read It Later | Share
- California Inc.: Wells Fargo’s CEO to be grilled by Congress
Monday - 03/11/2019 - 08:00 AMWelcome to California Inc., the weekly newsletter of the L.A. Times Business section. I'm Business columnist David Lazarus, and here's a rundown of upcoming stories this week and the highlights of last week.
More | Talk | Read It Later | Share - Meet the woman who plays point for Magic Johnson Enterprises
Sunday - 03/10/2019 - 07:00 AMSports marketing executive Christina M. Francis, 50, in January became president of Magic Johnson Enterprises, the investment conglomerate founded in 1987 by NBA Hall of Famer Earvin “Magic” Johnson before he retired from the Lakers.More | Talk | Read It Later | Share
- William Morris Endeavor returns Saudi investment money after Jamal Khashoggi murder
Friday - 03/08/2019 - 04:30 PMWilliam Morris Endeavor’s bid to return a $400-million investment to the Saudi Arabian government because of an outcry over the murder of Saudi journalist Jamal Khashoggi has been fulfilled, according to a person with knowledge of the talks.More | Talk | Read It Later | Share
- SpaceX Crew Dragon capsule splashes down in Atlantic Ocean
Friday - 03/08/2019 - 08:45 AMSpaceX’s Crew Dragon capsule splashed down in the Atlantic Ocean on Friday morning, marking the last major milestone of a NASA test mission and precursor to future human spaceflights. The hatch of the capsule, which did not have a crew aboard, closed on Thursday at 12:39 p.m.More | Talk | Read It Later | Share
- Wells Fargo CEO Tim Sloan's message of contrition and improvement draws bipartisan rebuke
Tuesday - 03/12/2019 - 01:35 PMWells Fargo & Co. Chief Executive Tim Sloan traveled to Capitol Hill on Tuesday with a message of contrition for its many scandals and commitment to treating its employees and customers right.More | Talk | Read It Later | Share
- Lumber Liquidators to pay $33 million for misleading investors about formaldehyde in laminate flooring
Tuesday - 03/12/2019 - 01:05 PMLumber Liquidators, one of largest flooring retailers in the country, has agreed to pay a $33-million penalty for misleading investors about formaldehyde-laced laminate flooring from China. The investigation and agreement with federal prosecutors in the Eastern District of Virginia stemmed from...
More | Talk | Read It Later | Share - Stitch Fix stock surges on strong quarterly earnings report
Monday - 03/11/2019 - 08:55 PMStitch Fix Inc., the apparel company that uses software to predict what customers want, surged after posting earnings results that beat estimates and issuing a better-than-expected sales forecast for the current quarter.More | Talk | Read It Later | Share
- Tech leads stocks broadly higher; Boeing drops
Monday - 03/11/2019 - 07:25 PMA broad rally led by technology companies drove U.S. stocks sharply higher Monday, giving the Standard & Poor’s 500 index its biggest one-day increase since late January. The latest gains also snapped a five-day losing streak for the benchmark index, which was coming off its worst weekly stumble...
More | Talk | Read It Later | Share - Nvidia to buy Mellanox for $6.9 billion as it pushes into data centers
Monday - 03/11/2019 - 06:00 PMNvidia Corp. has agreed to buy chipmaker Mellanox Technologies Ltd. for $6.9 billion, gaining expertise to help it push into the growing market for data center components. The $125-a-share cash offer for Mellanox is a 14% premium to the stock’s Friday closing price of $109.38 a share.More | Talk | Read It Later | Share
- Boeing stock dives after plane crash as Ethiopia, China and Indonesia ground 737 Max 8
Monday - 03/11/2019 - 10:50 AMBoeing Co. stock dived more than 7% on Monday morning after one of its workhorse 737s crashed in Ethiopia over the weekend, killing all 157 people aboard. China, Indonesia and Ethiopia have grounded the Max 8, and airlines in other countries have signaled they may follow suit.More | Talk | Read It Later | Share
- Stop judging that overspending friend
Sunday - 03/10/2019 - 07:00 AMDear Liz: My friend is not good with money. He has always lived above his means. He lived in a fancy apartment, leases a BMW and goes out to eat often.More | Talk | Read It Later | Share
- Martin Shkreli is under investigation after report he’s using a cellphone in prison
Friday - 03/08/2019 - 05:30 PMThe Federal Bureau of Prisons said Friday that it is investigating the conduct of notorious former hedge fund manager Martin Shkreli after a report he was using a cellphone to help run a drug company from the New Jersey prison where he is serving a seven-year term.More | Talk | Read It Later | Share
- California employers add only 3,000 jobs in January
Friday - 03/08/2019 - 01:20 PMCalifornia added only 3,000 net jobs in the first month of the year as the unemployment rate ticked slightly upward. The slight increase over December 2018 brings the state’s total number of nonfarm payroll jobs to 17.3 million, according to the California Employee Development Department.More | Talk | Read It Later | Share
- New York co-living company plans $100 million expansion with Los Angeles apartment developer
Friday - 03/08/2019 - 08:00 AMCo-living is one the newest trends in urban housing, and it has prompted a New York operator to join with a Los Angeles developer to create $100 million worth of shared, furnished apartments to help meet a projected deep demand in Southern California.More | Talk | Read It Later | Share
- Elon Musk defends his Tesla tweets and says SEC is overreaching
Tuesday - 03/12/2019 - 02:20 PMElon Musk told a New York judge that a pair of tweets he sent last month about Tesla Inc. weren’t improper, pushing against a request by the U.S. Securities and Exchange Commission to hold him in contempt for violating earlier restrictions on his social media posts.More | Talk | Read It Later | Share
- Boeing crisis grows as 737 Max bans ripple around the globe
Tuesday - 03/12/2019 - 10:25 AMBoeing Co. was thrown deeper into crisis Tuesday as nation after nation idled the 737 Max plane — the company’s most important airliner — after a deadly crash in Ethiopia over the weekend compounded concerns that were sparked last year by a similar fatal accident in the Java Sea.More | Talk | Read It Later | Share
- Nissan, Renault and Mitsubishi shore up alliance amid Ghosn's departure
Monday - 03/11/2019 - 10:00 PMNissan Motor Co. and its partners Renault and Mitsubishi Motors Corp. are considering forming a single board for their alliance now that Carlos Ghosn has been sidelined by his arrest.More | Talk | Read It Later | Share
- As U.S. banks shut branches, JPMorgan leads a shift toward wealthy areas
Monday - 03/11/2019 - 06:35 PMAberdeen, Wash., is a far Northwest outpost of JPMorgan Chase & Co., with one lonely branch perched near the Pacific, 2,900 miles from Wall Street. Now the bank is planning to depart the rainy timber town that gave the world Kurt Cobain.More | Talk | Read It Later | Share
- Workers suddenly have more power to demand higher pay and better jobs
Monday - 03/11/2019 - 05:55 PMWorkers are receiving the fattest wage increases since the Great Recession as employers struggle to find enough people to fill their ranks and employees have more leverage to demand higher pay and jump to better jobs.More | Talk | Read It Later | Share
- Tesla plans to raise prices and backtracks on closing most stores
Monday - 03/11/2019 - 08:45 AMTesla Inc. said Monday that it plans to raise average vehicle prices by about 3% globally after reversing a decision to shut down most of its stores. The move comes days after Tesla’s announcement that it will sell cars online only to help save costs.More | Talk | Read It Later | Share
- Wells Fargo CEO heads to Congress amid claims that reforms are slipping
Monday - 03/11/2019 - 08:00 AMAs the chief executive of Wells Fargo & Co. gets set to tell lawmakers that the bank is moving past its history of consumer abuses, a new report contends the embattled San Francisco financial institution is backsliding.More | Talk | Read It Later | Share
- Stocks slip again, capping their worst week of 2019
Friday - 03/08/2019 - 04:30 PMAnother down day on Wall Street left the Standard & Poor’s 500 index with its worst weekly showing since January and its eighth loss in the last nine days. A disappointing report Friday on hiring by U.S.More | Talk | Read It Later | Share
- Scooter start-up Bird ditches its gig economy mechanics
Friday - 03/08/2019 - 02:45 PMThe scooter rental company Bird Rides Inc. has quietly begun abandoning its practice of paying independent contractors a per-vehicle rate to fix its scooters in several cities. In late February, mechanics working in San Diego received an email saying their services would no longer be needed, and...
More | Talk | Read It Later | Share - For boomers making plans to relocate for retirement, it’s time to get real about risks
Friday - 03/08/2019 - 08:00 AMWhen Martha Powers and Larry Gomberg heard the news about Hurricane Florence bringing horrific winds and catastrophic flooding to Wilmington, N.C., they grimaced. Then, they felt relieved. “What if we had decided to build our retirement home there?” they said to each other in September, when the...
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