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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: Mon, 22 May 2017 22:29:37 -0700

Copyright: ©2017 Los Angeles Times

Citigroup to pay nearly $100 million to settle Banamex money-laundering claims

Mon, 22 May 2017 17:40:00 PDT

Citigroup has agreed to pay nearly $100 million to federal authorities to settle claims that a lack of internal controls at the bank's Banamex subsidiary may have allowed customers to launder money sent to Mexico.

The Justice Department announced Monday that the division, based in Century City,...


Stocks bounce back as technology and defense companies climb

Mon, 22 May 2017 15:15:00 PDT

Strong gains for technology companies helped lead U.S. stocks higher Monday. Defense contractors also climbed as the market continued to bounce back from a bout of turbulence last week.

Stocks rose for the third day in a row. Technology companies are closing in on all-time highs and continued to...


Nathan's and Curtis hot dogs recalled after complaints about metal flakes

Mon, 22 May 2017 12:00:00 PDT

Meat processing firm John Morrell & Co. is recalling about 210,000 pounds of Nathan’s and Curtis ready-to-eat beef hot dogs after the company received complaints of “metal flakes” between the hot dogs and the packaging film.

The recall affects:

14-ounce sealed film packages of Nathan's Skinless...(image)

Bill to loosen financial rules would save $24 billion — and slash consumer protection bureau funds

Mon, 22 May 2017 11:35:00 PDT

The House Republican legislation scaling back Dodd-Frank financial regulations would reduce federal budget deficits by $24.1 billion over the next decade — in part by slashing funding for the Consumer Financial Protection Bureau, according to an estimate by the nonpartisan Congressional Budget...


Supreme Court makes it easier for companies to defend patent cases

Mon, 22 May 2017 11:20:00 PDT

The Supreme Court just made it easier for companies to defend themselves against patent infringement lawsuits.

The justices ruled unanimously Monday that such lawsuits can be filed only in states where the target companies are incorporated. The issue is important to many companies that complained...


Ford replaces its CEO as it tries to focus on traditional cars and new tech

Mon, 22 May 2017 08:05:00 PDT

Ford Motor Co. is replacing Chief Executive Mark Fields as it struggles to keep its traditional auto-manufacturing business running smoothly while remaking itself as a nimble, high-tech provider of new mobility services.

The 114-year-old automaker said Fields is retiring at age 56 after 28 years...


California Inc.: A flashy event for the world's most famous movie theater

Mon, 22 May 2017 05:00:00 PDT

Welcome 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.

Here in the Golden State, there are some mixed messages on the jobs front. Employers slashed...


Health savings accounts can supercharge retirement funds, but not for this guy

Sun, 21 May 2017 03:00:00 PDT

Dear Liz: Prior to retiring in 2015, I contributed to a health savings account. At the time my spouse and I were enrolled in my employer-provided high deductible health insurance plan. After I retired, I enrolled in an HMO plan my employer provided, which is not high deductible, and my wife enrolled...


Common-area property belongs to everyone. Board members can't take it for themselves

Sat, 20 May 2017 06:00:00 PDT

Question: I purchased a detached single-family home in a homeowner association around San Clemente with a zero lot line that comes right up against the back edge of our property.

There is a permanent concrete walking and jogging path that wraps around the entire development adjacent to the lot...


Cutting the cord doesn't necessarily mean cutting the cost

Sat, 20 May 2017 03:00:00 PDT

Cutting the cord was supposed to add convenience and lower costs. But as more services pop up, is it really cheaper?(image)

Endless winter? California ski resorts plan to keep slopes open this summer

Fri, 19 May 2017 17:05:00 PDT

Californians, blessed with the natural resources to ski and surf in the same day, may be able do both deep into summer for the first time in years.

One of the wettest winters in decades has stretched the season for most California and Nevada ski resorts by up to two months, helping them regain...


Appeals court strikes down FAA drone registration rule

Fri, 19 May 2017 16:25:00 PDT

An appeals court on Friday struck down a Federal Aviation Administration rule that required owners of drones used for recreation to register their craft.

The ruling was a victory for hobbyists and a setback for the FAA, which cited safety concerns as it tried to tighten regulation of the fast-growing...


California employers slash payrolls for the first time since June; jobless rate falls to 4.8%

Fri, 19 May 2017 14:45:00 PDT

California employers slashed payrolls for the first time since June 2016, but unemployment fell, and the leisure and hospitality industry and the construction industry still added jobs.(image)

Dow jumps 141 points, but stocks still post a down week

Fri, 19 May 2017 14:30:00 PDT

Industrial companies led U.S. stocks higher Friday, giving the stock market its second gain in two days. Still, indexes ended the week lower.

Friday’s rally was broad, with all 11 industry sectors in the Standard & Poor’s 500 index closing higher. That included energy stocks, which climbed as the...


Reporter says he was 'manhandled' by FCC security at net neutrality meeting

Fri, 19 May 2017 13:05:00 PDT

As the FCC considered changes to net neutrality rules designed to preserve an open Internet, some people said the environment at the agency's public meeting this week was anything but open.(image)

Frontier Airlines flight attendants file complaint over right to pump breast milk

Fri, 19 May 2017 13:05:00 PDT

Two Frontier Airlines flight attendants have filed federal complaints against the Denver-based carrier, saying the airline discriminated against them by not allowing them to pump breast milk while on duty.

The flight attendants, Jo Roby and Stacy Rewitzer, filed discrimination charges with the...


United says its planes are secure even though cockpit door access codes were revealed

Fri, 19 May 2017 12:05:00 PDT

United Airlines has assured travelers that its planes’ flight decks are secure even though the codes that open cockpit doors were accidentally made public.

The Chicago-based carrier wouldn’t say how the codes, which are changed from time to time, were released. But the Wall Street Journal reported...


What to do if you get an audit notice from the IRS

Fri, 19 May 2017 12:00:00 PDT

If an IRS audit notice shows up, tax pros say there are a few basic steps you can take to steady yourself.(image)

Job training through apprenticeships is a priority for Trump, Labor secretary says

Fri, 19 May 2017 11:10:00 PDT

U.S. Labor Secretary Alexander Acosta on Friday made public-private apprenticeships his debut issue as President Trump's point man on matching American workers with specific jobs.

“CEO after CEO has told me that they are eager to fill their vacancies, but they cannot find workers with the right...


Beware the perils of oversharing at work

Fri, 19 May 2017 08:00:00 PDT

Question: Several months ago, my position was eliminated. It was a blessing in disguise, because my husband had a terminal illness, and I was able to care for him until his death. Now I'm seeking a new job and am uncertain about the inevitable question about things in my resume.

If I say I took...


TCL Chinese Theatre to project movie scenes on the outside, too

Fri, 19 May 2017 06:00:00 PDT

As if Hollywood Boulevard didn’t have enough distractions, the TCL Chinese Theatre plans to blare a dramatic score while projecting movie scenes on the outside of the iconic building starting Monday.

As part of its 90th anniversary celebration, the historic theater on Hollywood Boulevard, once...


With its wireless broadband, Webpass is cord cutters' gateway to the Internet

Fri, 19 May 2017 03:00:00 PDT

Cord cutting has taken a bite out of the number of pay-TV subscribers for cable and telecommunications companies.

But it hasn’t significantly reduced high-speed Internet subscriptions — in part because there aren’t many alternatives for over-the-top streamers.

Webpass, now owned by Google, wants...


Miss USA spoke for many Americans when she said healthcare isn't a right

Fri, 19 May 2017 03:00:00 PDT

A beauty queen may not be the most authoritative source when it comes to healthcare. Then again, the president of the United States, who is seeking a far-reaching overhaul of the U.S. healthcare system, is a former beauty-pageant owner.

So we probably shouldn’t be surprised that the person who...


How being thrown into the deep end by Mark Zuckerberg prepared Aditya Agarwal to lead

Fri, 19 May 2017 03:00:00 PDT

What a summer of cereal and pajamas at Facebook taught Aditya Agarwal about what he wanted out of his career(image)

Federal judge likely to approve $142-million class-action settlement against Wells Fargo with changes

Thu, 18 May 2017 16:35:00 PDT

A U.S. District judge on Thursday suggested he will sign off on a $142-million deal that would settle class-action lawsuits against Wells Fargo & Co. over unauthorized accounts, as long as the agreement is amended.

Those changes could include sending settlement notices to more customers, allowing...