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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: Thu, 22 Jun 2017 00:44:37 -0700

Copyright: ©2017 Los Angeles Times

Facing reports of allergic reactions to uniforms, American Airlines will look for new manufacturer

Wed, 21 Jun 2017 16:40:00 PDT

Responding to thousands of complaints that its new employee uniforms are causing an allergic reaction, American Airlines announced Wednesday that it won’t renew its contract with the manufacturer.

In a letter to employees, the Fort Worth-based airline said it has agreed with garment maker Twin...


Energy stocks dive again as oil drops, offsetting tech and healthcare gains

Wed, 21 Jun 2017 14:25:00 PDT

Energy stocks dived again Wednesday as oil dropped to its lowest price since last summer, extending their dismal start to the year. Gains for healthcare and technology stocks helped restrict losses for broader market indexes.

The Standard & Poor's 500 index slipped 1.42 points, or 0.1%, to 2,435.61....


George Clooney and partners agree to sell Casamigos tequila line for up to $1 billion

Wed, 21 Jun 2017 13:50:00 PDT

Actor George Clooney says he started his upscale tequila company Casamigos with two friends simply because they wanted to make a better tasting tequila.

Four years later, their product has a fast-growing following and Clooney and his partners Wednesday agreed to sell Casamigos — or “house of friends”...


Cut to the front of the security line at LAX with a fingerprint and iris scan — but it will cost you

Wed, 21 Jun 2017 12:30:00 PDT

With a fingerprint and a quick iris scan, passengers flying out of Los Angeles International Airport can now confirm their identity biometrically and avoid at least part of the airport’s security screening line.

Clear, a New York-based identity-authentication company, began operations at all terminals...


Uber drivers have their say about CEO Travis Kalanick's resignation

Wed, 21 Jun 2017 12:15:00 PDT

Former Uber Chief Executive Travis Kalanick is a controversial figure, even among drivers for the ride-hailing company.

Though the San Francisco firm has put money in the wallets of the drivers who offer rides on its platform, many drivers opposed Kalanick’s decisions and Uber’s leadership under...


L.A. County median home price breaks record set during last decade's housing boom

Wed, 21 Jun 2017 11:25:00 PDT

In summer 2007, the Los Angeles County median home price hit an all-time high of $550,000. It soon plunged as the housing bubble burst and the national economy crashed.

Now the median, the point where half the homes sold for more and half for less, has finally passed the heights of 10 years ago...


State of California business records go digital in effort to simplify filing and search

Wed, 21 Jun 2017 10:00:00 PDT

California’s website for business records and requests just got a lot simpler.

As of Wednesday, businesses no longer have to submit physical LLC Statements of Information, as the records may now be submitted via the California secretary of state’s website. An LLC Statement of Information includes...


Urban-style upgrade planned for Warner Center complex as Woodland Hills gets citified

Wed, 21 Jun 2017 03:00:00 PDT

One of Warner Center’s one-story rambling office parks is poised to go vertical as a new era of urbanization unfolds in the Woodland Hills neighborhood.

The proposed $1-billion development by Adler Realty Investments Inc. is one of many big real estate plans coming together in Warner Center, where...


Stocks falter as oil slides to its lowest price of 2017

Tue, 20 Jun 2017 15:30:00 PDT

U.S. stock indexes retreated from their record heights Tuesday after a slump in the price of oil weighed on energy companies.

The Standard & Poor's 500 index slid 16.43 points, or 0.7%, to 2,437.03, and the Dow Jones industrial average fell 61.85 points, or 0.3%, to 21,467.14. Both the S&P 500...


Barbie, are you ready for man-bun or Dad-bod Ken?

Tue, 20 Jun 2017 14:05:00 PDT

Last year when El Segundo-based Mattel unveiled a bumper crop of new Barbies, including curvier, taller and more petite versions of its flagship fashion doll, one social media commenter quipped, “But what about #dadbod Ken?” referring to the perfectly chiseled abs and molded plastic hair of Ken...


As the legislative clock ticks, Ryan launches push to pass sweeping tax overhaul

Tue, 20 Jun 2017 12:45:00 PDT

House Speaker Paul D. Ryan launched a major push Tuesday to overhaul the tax code this year — including massive cuts — but Republicans in Congress and the White House are running out of time as they continue to battle over the details.

With the year’s legislative days dwindling, Ryan (R-Wis.) tried...


U.K. fraud regulator charges Barclays over Qatar fundraising

Tue, 20 Jun 2017 04:55:00 PDT

British regulators have charged Barclays bank and four former executives, including the chief executive, with conspiracy to commit fraud when they sought investment from Qatar in 2008.

The bank, former CEO John Varley, 61, former investment banking chief Roger Jenkins, 61, Thomas Kalaris, 61, who...


Trump's answer to the obesity epidemic: Here, have a cookie

Tue, 20 Jun 2017 03:00:00 PDT

The most attention-getting news out of the food industry last week was Amazon’s announcement Friday that it’s buying Whole Foods for nearly $14 billion. But that wasn’t the most important news.

The most important news was a largely overlooked announcement from the Trump administration that it’s...


Amazon and Whole Foods could revolutionize grocery delivery. But do shoppers want it?

Tue, 20 Jun 2017 03:00:00 PDT

A giant in the technology industry had a bold idea: reinvent the way people shop, rendering grocery stores a quaint reminder of the past.

That company was Webvan, and it attracted $800 million in funding before filing for bankruptcy at the peak of the dot-com bust nearly two decades ago. The lesson...


L.A. and Long Beach port workers begin striking

Mon, 19 Jun 2017 17:00:00 PDT

Shouts of “What do we want? Justice! When do we want it? Now!” rang out as picketers congested the Evegreen yard in San Pedro on Monday, temporarily blocking up to 50 trucks from entering the terminal.

Around 60 truck drivers and warehouse workers serving the Los Angeles and Long Beach ports began...


Tech giants surge again, lifting stocks to record highs

Mon, 19 Jun 2017 15:10:00 PDT

Apple and other big-name technology stocks got back to their winning ways Monday and helped drive U.S. indexes once again to record heights.

The Standard & Poor's 500 index rose 20.31 points, or 0.8%, to 2,453.46 and surpassed its old record, set nearly a week ago, by half a percent. The Dow Jones...


Speculation grows that Amazon will face a rival bidder for Whole Foods

Mon, 19 Jun 2017 15:10:00 PDT’s plan to buy Whole Foods Market Inc. sparked an avalanche of discussion about how the online retail giant could transform the U.S. grocery industry in the years ahead.

But Amazon’s $13.7-billion deal might not be the last word on the merger itself.

Wall Street signaled Monday that it...


Supreme Court rules the Slants may trademark their name, striking down law banning offensive terms

Mon, 19 Jun 2017 14:45:00 PDT

The Supreme Court extended trademark protection on Monday to words and names that may be offensive, ruling that the 1st Amendment right to free speech allows an Asian American band to call itself the Slants.

The unanimous decision will also likely preserve the trademarked and controversial name...


Elizabeth Warren calls on Fed to remove Wells Fargo board members over accounts scandal

Mon, 19 Jun 2017 13:55:00 PDT

Sen. Elizabeth Warren is calling on the Federal Reserve to remove Wells Fargo & Co. board members who presided over the bank when it opened millions of consumer accounts without customers’ authorization.

The scandal “revealed severe problems with the bank's risk management practices — problems...


Federal and state officials move to block fantasy sports merger between DraftKings and FanDuel

Mon, 19 Jun 2017 11:55:00 PDT

Federal and state officials on Monday moved to block the merger between DraftKings Inc. and FanDuel, arguing the combination would harm competition by locking up 90% of the daily fantasy sports market in the U.S.

The Federal Trade Commission said it would file suit seeking a court injunction to...


Consumer bureau director defends handling of Wells Fargo scandal in face of GOP criticism

Mon, 19 Jun 2017 11:05:00 PDT

The federal government’s consumer financial watchdog is defending his handling of the Wells Fargo & Co. unauthorized accounts scandal in the face of Republican charges that the agency failed to catch the problem and has stymied a congressional investigation into how it handled the case.



California Inc.: Hogwarts at night is L.A.'s brightest new attraction

Mon, 19 Jun 2017 03:00:00 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.

Good news out of the Golden State: California added 17,600 new jobs in May, dropping the...


Hired in 1958 as a 'computer,' Sue Finley talks about her long career at JPL

Sun, 18 Jun 2017 07:00:00 PDT

Sue Finley, 80, was hired at JPL as a human computer in 1958 and has worked on a number of missions since then.(image)

Social Security benefits for spouses can pump up household income

Sun, 18 Jun 2017 03:00:00 PDT

Dear Liz: I have a friend who has a selfish, controlling husband. When talking with her recently, she told me she got only $300 a month from Social Security based on her work history while her husband gets $1,800. I told her she should be getting $900, half of his monthly amount, as a spousal benefit....


Despite airline scandals, carriers' stock prices keep climbing

Sat, 17 Jun 2017 08:00:00 PDT

A passenger is bloodied as he is dragged from his seat in April after refusing to give it up to crew members on a United Airlines flight.

Later that same month, a family flying home from a Hawaiian vacation is booted from a Delta Air Lines flight after a dispute over seating for an infant.

In May,...