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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: Wed, 13 Dec 2017 03:45:05 -0800

Copyright: ©2017 Los Angeles Times

Net neutrality's repeal means fast lanes could be coming to the internet. Is that a good thing?

Wed, 13 Dec 2017 03:00:00 PST

With federal regulators poised to repeal net neutrality rules this week, your internet service provider would be allowed to speed up delivery of some online content to your home or phone.

Whether those fast lanes are coming, and what they ultimately deliver for Americans, is unclear.

The concept,...


Families of patients fear GOP tax plan will scuttle drug development for rare diseases

Wed, 13 Dec 2017 03:00:00 PST

Of all the proposals in the GOP tax plan, none may be more important to families like Jay and Amy Granzow than an obscure provision on “orphan” drug research.

The Granzows, who live in Manhattan Beach, fear that the final tax bill will end up killing or drastically cutting a three-decade-old tax...


Navajo Nation sues Wells Fargo claiming it was targeted for fake accounts

Tue, 12 Dec 2017 17:35:00 PST

The Navajo Nation has sued Wells Fargo, saying its citizens were targeted by workers trying to meet the bank’s aggressive sales quotas.

The lawsuit, filed Tuesday in federal court in Albuquerque, alleges many of the same practices that led to last year’s $185-million settlement between Wells Fargo...


Shopping mall giant Westfield being sold to French real estate firm in $16-billion deal

Tue, 12 Dec 2017 17:15:00 PST

Westfield Corp., which operates upscale shopping malls in Los Angeles and in dozens of other U.S. cities and in Britain, agreed to be acquired for nearly $16 billion by French commercial real estate giant Unibail-Rodamco, the companies said Tuesday.

The deal underlined how even operators of marquee...


S&P 500 and Dow rise to new highs, but tech stocks fall

Tue, 12 Dec 2017 14:20:00 PST

Big-name companies notched gains on Wall Street on Tuesday, bringing the Standard & Poor’s 500 index and the Dow Jones industrial average to new highs for the second day this week.

A slide in technology stocks pulled the Nasdaq down. Small-company stocks also lagged.

Banks and other financial stocks...


In trade blowback, Canada will buy used Australian jets rather than new Boeing aircraft

Tue, 12 Dec 2017 13:40:00 PST

Canada has ditched a plan to buy 18 Super Hornet jet fighters from U.S.-based Boeing Co. and will instead buy 18 used F-18 fighters from Australia.

Prime Minister Justin Trudeau had previously warned that Canada would stop doing business with Boeing if the company doesn't drop a trade complaint...


Click to unwrap: These gifts are delivered only if the recipient likes them

Tue, 12 Dec 2017 13:40:00 PST

It’s Christmas Eve, you still have gifts to buy and as the hours tick by, your options grow thin.

Anything you order online won’t arrive in time. A gift card feels impersonal. You’re skeptical that something picked primarily because it was in stock at a retailer open late on a holiday will be a...


Airline bumping rates continue to fall after passenger-dragging incident

Tue, 12 Dec 2017 12:35:00 PST

After a Kentucky doctor was dragged off a United Airlines plane in April, the nation’s airlines vowed to reduce the number of passengers who are bumped from overbooked flights.

They seem to be making good on the promise.

In the July-to-September quarter, the nation’s 12 biggest airlines reported...


UPS and others warn that holiday deliveries are already falling behind

Tue, 12 Dec 2017 10:55:00 PST

If your online orders are arriving later than expected, you're not alone.

An influx of online purchases — particularly during Cyber Monday, the busiest online shopping day in U.S. history — is testing the limits of carriers such as UPS and FedEx, despite their heavy investment in new warehouses...


Get set: Your internet bill is about to soar, thanks to Trump's FCC

Tue, 12 Dec 2017 03:00:00 PST

Thursday’s the day that the Trump administration will overturn former President Obama’s rules protecting consumers from greedy telecom companies manipulating internet access and pricing.

I got a preview of what’s to come over the weekend as my Spectrum internet bill soared by 20% — and as I encountered...


Bitcoin futures soar as the virtual currency begins trading on a major exchange

Mon, 11 Dec 2017 17:10:00 PST

Wall Street got its first taste of bitcoin Monday, with the price of the first-ever futures contract for the digital currency jumping 20%.

It's a step forward for the bitcoin, which has soared this year despite concerns that the surge of investor interest has transformed it from a new-age currency...


Mario Batali apologizes for sexual misconduct, steps away from his restaurant empire

Mon, 11 Dec 2017 16:25:00 PST

Celebrity chef Mario Batali stepped away from the day-to-day operations of his culinary empire and from the ABC show “The Chew” on Monday, as allegations emerged that he committed sexual misconduct spanning at least two decades.

In the investigation by food website Eater, four women — three of...


Stocks tick up, bringing S&P 500 and Dow to new highs

Mon, 11 Dec 2017 16:25:00 PST

Technology companies led U.S. stocks modestly higher Monday, driving the market to another set of milestones.

The Standard & Poor's 500 index and Dow Jones industrial average finished at new highs. Both indexes also set record highs Friday.

Solid gains by healthcare companies also helped lift the...


Zinke, House GOP escalate feud with Patagonia over monuments

Mon, 11 Dec 2017 16:00:00 PST

Interior Secretary Ryan Zinke and House Republicans have escalated their feud with Patagonia after the outdoor retailer told Americans that President Trump “stole your land” in his move to shrink two sprawling Utah national monuments.

The dispute pitting the GOP against a private company raised...


Struggling Mattel warns of slumping holiday sales as debt ratings are cut

Mon, 11 Dec 2017 15:25:00 PST

Mattel Inc.’s struggles deepened Monday as the El Segundo toy maker warned of slumping holiday sales and its debt was downgraded by the major credit-rating firms.

With only two weeks until Christmas, Mattel said in a securities filing that its fourth-quarter sales would be “negatively impacted”...


Lidar costs $75,000 per car. If the price doesn't drop to a few hundred bucks, driverless cars won't go mass market.

Mon, 11 Dec 2017 09:00:00 PST

Lidar makers must get costs down if driverless vehicles are to enter the mass market.(image)

Cal Inc.: Fed weighs interest-rate hike to keep economy from overheating

Mon, 11 Dec 2017 05:00:00 PST

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.

Trading will kick off Monday following another week of gains capped off by a jobs report...


LuLaRoe has turned your Facebook friends into a leggings sales force

Mon, 11 Dec 2017 03:00:00 PST

Betsy Stover was 17 when her mother asked her to help fax strangers, hawking a service that had the markings of a pyramid scheme.

“I always felt like a creep sending unsolicited faxes,” said Stover, who hated the chore, but knew the work required cold calls to succeed.

Stover, now a 38-year-old...


We asked Californians to give us their tax returns. Here's how the GOP plan would affect them

Sun, 10 Dec 2017 03:00:00 PST

How would California families see their tax bills change under new proposals passed by the House and Senate? We reviewed tax returns to find out. Homeowners and graduate students could pay more; others could fare better.(image)

How to find your way out of difficult financial circumstances

Sun, 10 Dec 2017 03:00:00 PST

Dear Liz: I desperately need your help! My husband, who is 91, is in the early stages of dementia. I just turned 88 and for the first time am responsible for making all the financial decisions.

We are deeply in debt and I don’t know the best way to proceed. We owe more than $40,000 on credit cards,...


Strippers, drugs and sex at Banc of California, former executive alleges in lawsuit

Sat, 9 Dec 2017 13:30:00 PST

Troubled Banc of California was a den of iniquity featuring on-premises sex, drugs and strippers, according to a lawsuit filed this week by a former employee.

Heather Endresen, who was managing director of the bank’s small-business loan department, has charged that the company terminated her without...


Ugly sweater craze snags early boarding on Alaska Airlines

Sat, 9 Dec 2017 06:00:00 PST

The ugly Christmas sweater craze hasn’t unraveled yet.

If you fly on an Alaska Airlines, Virgin America or Horizon Air flight Dec. 15, wearing an ugly Christmas sweater will get you into the coveted early boarding group, along with active members of the military and passengers with children.



When a landscaping project goes awry, sometimes it's better to dig it up from the roots

Sat, 9 Dec 2017 06:00:00 PST

QUESTION: Over the years, the exterior of our HOA development, from the perimeter wall to the public curb, has deteriorated, looking dated and dilapidated. To increase our property values, the board embarked on an ambitious “beautification” project. This consisted of removing large old mature trees...


Chinese investors in SLS Las Vegas sue after failing to secure green cards

Fri, 8 Dec 2017 18:10:00 PST

Sixty Chinese investors who were promised U.S. permanent resident cards for investing in the SLS Las Vegas hotel and casino have sued the developers of the project, saying they never received the promised green cards.

The lawsuit, filed in Los Angeles County Superior Court last month, claims the...


Stocks rise after strong jobs report; S&P 500 sets a new record high

Fri, 8 Dec 2017 15:10:00 PST

Stocks rose Friday after a better-than-expected U.S. jobs report, and the strong finish pushed the Standard & Poor's 500 index to its third straight weekly gain despite some weakness earlier in the week.

The gains were widespread, and telecom and healthcare stocks helped lead the way. Overseas...