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Preview: L.A. Times - Business

L.A. Times - Business

National and international business news. Find stock updates, the latest trends in technology, real estate news and the latest on the economy.

Last Build Date: Sat, 21 Apr 2018 20:59:24 -0700

Copyright: ©2018 Los Angeles Times

Sixt came to the U.S. in 2011, and it's already the nation's fourth-largest car rental company

Sat, 21 Apr 2018 08:00:00 PDT

Sixt Rent-a-car is the second-biggest car rental company in Europe but entered the U.S. market only in 2011.

But the German multinational rental company — with a decided Teutonic flair — has grown so fast that it is now the fourth-largest car rental company in the U.S., with five locations in Los...


Lauren McGoodwin couldn't find a good women's career-promoting business, so she built one herself

Sat, 21 Apr 2018 06:00:00 PDT

Lauren McGoodwin is the founder and chief executive of Career Contessa, an online platform designed to help women search for the best job opportunities and perform at a higher level when they get them.(image)

How much has once-dreary Hollywood changed? Try $6,600 a month for a 2-bedroom apartment

Sat, 21 Apr 2018 05:00:00 PDT

Monthly rents for a deluxe apartment tower called Argyle House opening next month start at $3,395 for a studio, $4,395 for a one-bedroom and $6,595 for two bedrooms.

The location? Not Beverly Hills, not Santa Monica, but the once-dreary intersection of Argyle Avenue and Yucca Street in Hollywood.


Raids and tariffs? We'll take our lumps, say California farmers

Sat, 21 Apr 2018 03:00:00 PDT

Hit by immigration raids and tariffs on their products, farmers in California could be regretting their support of Trump for president. They're not. They'll take one for the team, even if it means losing labor and profit, because they can't stand the regulations that they associate with Democrats.(image)

U.S. reportedly raises objections to state-run Chinese company taking control of Long Beach port terminal

Fri, 20 Apr 2018 15:45:00 PDT

U.S. regulators are reportedly raising objections that Cosco Shipping, a state-run Chinese company, could take control of a container terminal at the Port of Long Beach as part of its $6.3-billion acquisition of another company.

The concerns have been raised by the Committee on Foreign Investment...


AT&T and Verizon are under federal investigation for potential collusion

Fri, 20 Apr 2018 15:40:00 PDT

The Justice Department is investigating potential efforts by AT&T and Verizon to hamstring a technology that could someday make it easier for consumers to seamlessly switch their wireless carriers, according to three people familiar with the matter.

The investigation appears to focus on whether...


FAA orders emergency plane-engine inspections after fatal Southwest accident

Fri, 20 Apr 2018 15:35:00 PDT

U.S. aviation regulators ordered emergency inspections of one of the world’s most popular jet engines after the fatal accident this week on a Southwest Airlines Co. plane.

The Federal Aviation Administration order, issued Friday, covers an estimated 352 CFM International Inc. engines in the United...


Romaine lettuce E. coli contamination warning widened

Fri, 20 Apr 2018 15:30:00 PDT

Federal health officials have extended their health warning for romaine lettuce grown in the Yuma, Ariz., region. Consumers now are advised to avoid all forms of the lettuce.

Previous warnings highlighted chopped, packaged romaine and salad mixes containing the variety.

The expansion came after...


Toys R Us accepts $237-million bid from Toronto firm to buy its stores in Canada

Fri, 20 Apr 2018 15:25:00 PDT

A Toronto investment firm run by billionaire Prem Watsa has reached a $237-million deal to acquire the 82 Toys R Us stores that the bankrupt retailer operates in Canada — topping an offer by California toy mogul Isaac Larian.

The agreement puts Fairfax Financial Holdings Ltd. in the so-called stalking...


Wells Fargo to pay $1 billion in fines over auto, mortgage lending abuses

Fri, 20 Apr 2018 14:45:00 PDT

Federal regulators slapped Wells Fargo & Co. with a penalty of $1 billion on Friday, punishing the San Francisco bank for abuses that harmed mortgage and auto loan borrowers, and for what regulators said was a pervasive and “reckless” lack of risk management.

The penalty, announced by the Office...


Stocks veer down as tech shares slump

Fri, 20 Apr 2018 14:15:00 PDT

A steep slide in technology stocks weighed on U.S. stocks Friday, pulling the market lower for the second day in a row.

Losses by retailers and by makers of packaged food, beverages and other consumer goods also helped weigh down the market. Banks rose as bond yields continued to climb, reflecting...


Alex Meruelo sees L.A. Latinos as key part of his highest-profile bet: a Las Vegas casino

Fri, 20 Apr 2018 13:20:00 PDT

Three decades ago, a 23-year-old kid from Whittier, the son of Cuban immigrants, had an idea for a new kind of pizzeria — one that would serve predominantly Latino neighborhoods and offer then-uncommon toppings like chorizo and jalapeños.

He took over a failed pizza joint in Huntington Park, called...


California loses jobs in March, though unemployment stays at a record low

Fri, 20 Apr 2018 13:20:00 PDT

In a signal that California’s economic engine could be slowing after a remarkable run, the state lost 7,200 net jobs last month and increases in February were far less than originally estimated, according to data released Friday by the Employment Development Department.

The decline was the first...


Southwest Airlines is giving $5,000 to every passenger on plane that had an engine explode

Fri, 20 Apr 2018 13:20:00 PDT

Southwest Airlines Co. is providing $5,000 checks and $1,000 travel vouchers to passengers who were on a flight this week when an engine broke apart, killing a woman on board.

“We value you as our customer and hope you will allow us another opportunity to restore your confidence in Southwest,”...


What are the odds an ex-fighter pilot like Capt. Tammie Jo Shults is flying your airline plane?

Fri, 20 Apr 2018 13:00:00 PDT

Southwest Airlines Capt. Tammie Jo Shults personifies a dying breed.

The icy calm Navy veteran, who told air traffic control "we have part of the aircraft missing, so we're going to need to slow down a bit" while her plane limped along with an exploded engine and a blown-out window, comes from...


Most of Trump's merchandising empire has faded

Fri, 20 Apr 2018 11:55:00 PDT

Before he ran for office, Donald Trump made millions of dollars by selling his name to adorn other people's products. There was Trump deodorant. Trump ties. Trump steaks. Trump underwear. Trump furniture. At one time, there was even a Trump-branded urine test.

Now, almost all of them are gone.


Rise of ‘gray’ divorce is forcing a financial reckoning for 50-plus women

Fri, 20 Apr 2018 06:00:00 PDT

For some, it means liberation. For others, loss. For women in particular, the doubling of the divorce rate for the 50-plus crowd since the 1990s can mean something far more prosaic: a need to shoulder the big financial decisions they’d let their spouses deal with when they were married.



Alaska Airlines adopts a tougher policy for emotional support animals

Fri, 20 Apr 2018 05:00:00 PDT

Responding to a rash of mishaps involving animals on planes, Alaska Airlines plans to impose new requirements for passengers flying with emotional support animals.

Starting May 1, the Seattle-based carrier will require passengers who want to travel with emotional support animals to provide proof...


McDonald’s may gain fresh hangout status as Starbucks is rocked by video

Fri, 20 Apr 2018 05:00:00 PDT

Despite decades of pushing to create a welcoming coffeehouse culture in the U.S., Starbucks Corp. has left many Americans behind. McDonald’s Corp. may be positioned to pick up the pieces.

The arrest of two black men at a Philadelphia Starbucks has put the company at the center of national concerns...


The insanity of covering a $50,000 knee operation but not a relatively cheap injection

Fri, 20 Apr 2018 03:00:00 PDT

Why give someone with bum knees a once-a-year injection costing as little as a few hundred bucks when you can instead make them undergo complicated knee-replacement surgery costing tens of thousands of dollars?

That, in a nutshell, is one reason the U.S. healthcare system is the most expensive...


AT&T's Randall Stephenson tries to close the deal on Time Warner merger at antitrust trial

Thu, 19 Apr 2018 15:00:00 PDT

AT&T Inc.’s top executive gave a vigorous defense Thursday of the proposed $85.4-billion deal to buy Time Warner, describing it as key to the company’s ability to compete with a new generation of high-tech competitors.

“This world is changing fast,” said Randall Stephenson, who took the witness...


Welcome to L.A.'s luxury hotel boom, featuring $20,000 suites and James Bond exotic cars

Thu, 19 Apr 2018 14:45:00 PDT

At the newest five-star hotel around Los Angeles, a massive bronze chandelier hangs from its nearly three-story Art Deco lobby, suffused with the scent of fresh-cut roses.

Upstairs, each room is fitted with floor-to-ceiling windows that open to balconies with views of Santa Monica Bay on one side...


Stocks fall broadly, giving the market its first loss of the week

Thu, 19 Apr 2018 14:20:00 PDT

Losses among technology and consumer products companies weighed on U.S. stocks Thursday, snapping a three-day winning streak for the market.

Banks bucked the trend, rising along with bond yields. Energy companies also eked out a slight gain, despite a downturn in oil prices. The broad market slide...


Mattel CEO Margo Georgiadis is leaving the struggling toy maker after 14 months

Thu, 19 Apr 2018 14:20:00 PDT

Mattel Inc. said Thursday that its chief executive, Margaret “Margo” Georgiadis, is leaving the El Segundo toy maker after she failed to halt the slide in Mattel’s performance during her 14-month tenure.

Georgiadis is departing “to pursue a new opportunity in the technology sector,” Mattel said....


Metal weakness like the fatigue in Southwest plane's engine can lie hidden for years

Thu, 19 Apr 2018 14:00:00 PDT

Metal weakness like the fatigue found in a jet engine that exploded during a Southwest Airlines Co. flight on Tuesday can lie hidden for years and elude detection with even the most advanced technology.

A crack on a fan blade on the Southwest jet, for example, was on an internal surface that would...