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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: Fri, 28 Oct 2016 16:39:42 -0700

Copyright: ©2016 Los Angeles Times

Does baby powder cause cancer? Another jury thinks so, awarding $70 million to a California woman

Fri, 28 Oct 2016 15:35:00 PDT

For the third time, Johnson & Johnson has been hit with a multimillion-dollar jury verdict over whether the talc in its baby powder causes ovarian cancer when applied regularly for feminine hygiene.

Late Thursday, a St. Louis jury awarded $70.1 million to Deborah Giannecchini of Modesto, who was...


SpaceX narrows explosion investigation but still hasn't found root cause

Fri, 28 Oct 2016 14:20:00 PDT

SpaceX said Friday it has narrowed its investigation into the September explosion that destroyed a Falcon 9 rocket, though a root cause of the fiery failure has not been confirmed.

The Hawthorne space company said it is focusing on one of three composite overwrapped pressure vessels that store...


FDA faults UCLA, Cedars-Sinai and Huntington hospitals for not disclosing safety problems with medical devices

Fri, 28 Oct 2016 13:10:00 PDT

Federal regulators said 12 U.S. hospitals, including three in the Los Angeles area, failed to promptly report patient deaths or injuries linked to medical devices.

The Food and Drug Administration publicly disclosed the violations in inspection reports this week amid growing scrutiny of its ability...


The boy with rock star dreams now heads Fender electric guitar company

Fri, 28 Oct 2016 15:20:00 PDT

The gig: Andy Mooney, the son of a Scottish coal miner, couldn’t afford the Fender guitar he longed for as a child. Now 61, Mooney is chief executive of Fender Musical Instruments Corp. The company, based in Arizona but run from Los Angeles, makes the iconic Stratocaster and Telecaster electric...


Is your Obamacare rate going up? Tell us about your experience.

Fri, 28 Oct 2016 08:05:00 PDT

It’s that time of year again: Open enrollment begins Nov. 1. And next year, Obamacare premiums in the state are spiking about 13%, which means some Californians are getting sticker shock from fast-rising monthly premium prices

“It has turned into a catastrophic policy,” said Barry Levine, 55,...


Stocks take a hit after FBI says it's investigating new Clinton-related emails

Fri, 28 Oct 2016 14:20:00 PDT

An advance on the stock market Friday wilted after the FBI notified Congress that it would investigate newly discovered emails linked to Democratic presidential candidate Hillary Clinton.

The market had started out on a strong note after the government reported that the economy broke out of a slump...


U.S. economy grows at its strongest pace in two years

Fri, 28 Oct 2016 09:05:00 PDT

The nation’s economic engine revved up this summer after a weak first half of the year, growing at its fastest pace since 2014 and adding new fodder for the presidential campaign and the interest rate-hike deliberations of the Federal Reserve.

The nation’s total economic output, also known as gross...


The lowdown on new low-down-payment mortgage programs

Fri, 28 Oct 2016 07:00:00 PDT

Potential home buyers who can’t quite pony up the traditional 20% down payment have often had FHA loans as an alternative. But some lenders are shying away from these loans for legal and regulatory reasons.

Over the last few months, those same lenders have begun filling the gap with their own low-down-payment...


Tronc and Gannett shares plunge amid merger doubts

Thu, 27 Oct 2016 14:40:00 PDT

Shares of Tronc, the owner of the Los Angeles Times, and Gannett Co. fell sharply Thursday amid reports casting doubt on a merger between the two newspaper conglomerates.

Tronc, which was formerly known as Tribune Publishing and also owns the Chicago Tribune, Baltimore Sun and other regional newspapers,...


Renting an Airbnb home in San Diego could get complicated

Thu, 27 Oct 2016 13:45:00 PDT

Most Airbnb and other short-term rentals would be banned in San Diego under a proposal released this week by the City Council president. 

The proposal would make a simple definition change in the city’s municipal code: Visitors and tourists would be reclassified as transients if they rent a home...


Stocks slip again, but bond yields surge to highest levels since May

Thu, 27 Oct 2016 14:50:00 PDT

U.S. stocks slipped for the third consecutive day Thursday as media and defense companies skidded. Bond yields climbed to their highest levels since May, which helped banks and hurt stocks that pay big dividends.

Stocks started the day higher and were flat at midday, then gradually slid through...


Twitter to slash 9% of its workforce and kill Vine as it tries to eke out a profit

Thu, 27 Oct 2016 15:20:00 PDT

When a slew of photo and video apps popped up about five years ago, Twitter Inc. pounced.

Larger rival Facebook reportedly outbid it by hundreds of millions of dollars for rapidly growing Instagram, but Twitter managed to grab the yet-to-launch Vine app for a few million dollars in stock and cash.


Some Californians see health premiums rise sharply as Obamacare enrollment nears

Fri, 28 Oct 2016 13:40:00 PDT

Paula Schwartz of West Los Angeles says Obamacare has helped her afford medical coverage while she cares for her aging mother. But next year, her payments will jump $92 a month, or 57%.

Schwartz, 56, said her new monthly cost of $254 is still about half of what she was paying for coverage before...


What your boss can and can't do when it comes to politics at work

Fri, 28 Oct 2016 10:00:00 PDT

Amid this year's dark and divisive presidential election, the 2012 campaign can feel like a distant memory. But four years ago this month, a flurry of stories focused on corporate chief executives who were ominously telling their workers what might happen if President Obama won a second term. And...


Groupon buys rival LivingSocial, once valued at $6 billion, as daily deals business sputters

Wed, 26 Oct 2016 18:10:00 PDT

LivingSocial, the online deals site based in Washington, D.C., that was once valued at $6 billion, announced Wednesday that it is selling itself to rival Groupon for an undisclosed sum.

Both companies run Internet-based "daily deals" businesses that offer discounts and other offers for local businesses,...


AT&T and Time Warner hope to break the cycle of failed mergers

Fri, 28 Oct 2016 11:00:00 PDT

AT&T’s blockbuster bid for Time Warner Inc. might be a boon for investment bankers, lawyers and lobbyists, but it is anyone’s guess whether investors, employees and consumers ultimately would benefit from the combination.

Since the $85.4-billion deal was unveiled last weekend, AT&T Chief Executive...


If trends don't change, women will keep earning less than men for 170 years

Wed, 26 Oct 2016 11:10:00 PDT

The global gap in earnings between men and women will not be closed for another 170 years if current trends continue, according to a new report from the World Economic Forum.

The Switzerland-based forum’s annual Global Gender Gap Report, released Tuesday, lists economics and health as the most...


Southern California home sales dip in September

Wed, 26 Oct 2016 11:15:00 PDT

The Southern California real estate market took a breather in September, with sales dipping slightly as the market entered a typically slower season amid price gains that have made homes less affordable.

Real estate firm CoreLogic said Wednesday that sales in the six-county region fell nearly 1%...


New rule: Internet providers must ask you before sharing your sensitive personal data

Thu, 27 Oct 2016 12:00:00 PDT

Federal regulators on Thursday approved tough new rules requiring high-speed Internet service providers to get customer permission before using or sharing sensitive personal data, such as Web browsing or app usage history and the geographic trail of mobile devices.

Cable and wireless companies...


Stocks end mixed; Apple drags down tech shares, but Boeing soars

Wed, 26 Oct 2016 14:50:00 PDT

U.S. stocks dodged bigger losses and finished barely lower Wednesday. Healthcare companies fell and Apple pulled technology companies down, but banks rose.

Earlier in the day, stocks had appeared to be headed for a second day of notable losses, but they recovered some of that lost ground in late...


Comcast signs up more cable TV subscribers, bucking the cord-cutting trend

Wed, 26 Oct 2016 08:40:00 PDT

Cable television colossus Comcast Corp. gained customers in the third quarter, bucking industry trends, and its broadcast of the Rio Summer Olympics hauled in $1.6 billion in revenue.

Comcast announced Wednesday that it added a net 32,000 cable television subscribers during the July-through-September...


Housing, restaurants and offices are planned for $100-million L.A. Flower District project

Wed, 26 Oct 2016 15:45:00 PDT

The Southern California Flower Market, a downtown Los Angeles institution, hopes to transform its property into a mixed-use community of offices, apartments and restaurants — while still selling the roses, carnations and snapdragons it has for more than a century.

The plans, recently filed with...


Airbnb and Julia Child Foundation reach settlement over promotion of French home

Tue, 25 Oct 2016 16:10:00 PDT

A foundation that represents the estate of famed chef Julia Child has settled a lawsuit against Airbnb over a promotion that offered a free night’s stay at Child’s vacation home in France.

Julia Child Foundation for Gastronomy and the Culinary Arts sued the short-term rental company in June, saying...


Downtown business advocacy group names new chief executive

Tue, 25 Oct 2016 12:40:00 PDT

The Central City Assn., an influential downtown business advocacy group, has named a new chief executive to replace long-time head Carol Schatz, who recently retired.

Taking the helm will be Jessica Lall, the executive director of a business improvement district in the South Park neighborhood,...


Sunrun partners with LG to provide residential electricity storage

Wed, 26 Oct 2016 06:00:00 PDT

One of the nation’s leading residential solar companies has teamed up with the world’s largest automotive battery supplier to provide energy storage for homes.

San Francisco-based Sunrun Inc., which bills itself as the largest dedicated residential solar company in the country, said Wednesday it...