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Several companies cut ties with the NRA as public pressure grows

Vie, 02/23/2018 - 17:00

U.S. companies are taking a closer look at investments, co-branding deals and other ties to the gun industry and its public face, the National Rifle Assn., after the latest school massacre.

Petitions are circulating online targeting companies that offer discounts to NRA members on its website....

American Airlines subsidiary workers say they must take food stamps, sell blood to get by

Vie, 02/23/2018 - 16:55

American Airlines, the world’s largest carrier, is enjoying strong financial results, but service agents who work for a subsidiary carrier say they aren’t sharing in that wealth.

A survey of 900 workers at regional carrier Envoy Air found that 27% of those who responded said they must accept food...

Southwest Airlines raises fee to board early at some airports

Vie, 02/23/2018 - 16:20

At Southwest Airlines, passengers who want to board early to pick a window seat or be assured of room in the overhead compartment for their luggage must pay a fee.

The Dallas-based carrier has quietly raised that fee at some airports for passengers who decide after they get to the terminal that...

Feds' kickback complaint against Florida pharmacy snags L.A. equity firm founded by Richard Riordan

Vie, 02/23/2018 - 16:00

The Department of Justice has accused a Florida pharmacy — and the Los Angeles private equity firm that owns it — of bilking a military healthcare program out of millions of dollars by pushing unneeded vitamins and creams.

In a filing in federal court in Miami, federal prosecutors said compounding...

Citigroup will refund customers $335 million after discovering it charged too much credit-card interest

Vie, 02/23/2018 - 13:35

Citigroup Inc., one of the world’s largest credit-card issuers, said it will refund $335 million to U.S. customers whose annual percentage rate should have been lower.

The lender determined that a method it was using to calculate APRs didn’t properly reflect the full benefit customers should have...

U.S. wants to seize $7 million of Martin Shkreli's assets, including that Wu-Tang Clan album

Vie, 02/23/2018 - 12:35

“Pharma Bro” Martin Shkreli appeared in court Friday for the first time since a judge locked him up for his online antics, hearing the government argue that he's on the hook for more than $7 million in connection with his securities fraud conviction.

The brash former pharmaceutical chief executive...

Wages are finally starting to rise, but not for the middle class

Vie, 02/23/2018 - 12:25

Jorge Hunzelmann was pleased enough when his employer bumped up his pay this year by $2.50 an hour to $19.50.

Hunzelmann, a truck driver, is a beneficiary of a tightening labor market. But he does not have company-provided health benefits, and thankful as he was for the raise, the 52-year-old father...

No, the Obamacare tax penalty isn’t dead — yet

Vie, 02/23/2018 - 12:15

Rick, Patrick and Michael recently commented on Covered California’s Facebook page, urging others to ditch health insurance.

“No more fines or penalties!!! Trump took care of that!! Saved me 700 bucks this year!!!”

“Trump removed the penalty for not having insurance.”

“I’m pretty sure Trump abolished...

This Los Angeles banker knows about starting over — both in his personal and professional life

Vie, 02/23/2018 - 12:00
The grandson of Armenian genocide survivors, Ed Bagdasarian watched his father build a new life and business in the United States. Now, in his second go-round with longtime partners, the CEO of Intreprid Investment Bankers helps other entrepreneurs grow their businesses, or cash out.

KPCC buys LAist; Gothamist sites are being revived by public radio stations

Vie, 02/23/2018 - 10:25

LAist, the news website that was shut down abruptly last year by its billionaire owner, will reopen under new management: KPCC.

The public radio station will run the site out of its Pasadena offices after two anonymous donors acquired LAist and its sister sites in the Gothamist network, KPCC said...

Stocks rise, led by technology companies and banks

Vie, 02/23/2018 - 09:35

Hewlett Packard Enterprise and HP are leading technology companies higher, and banks are also rising as U.S. indexes climb in early trading Friday. Blue Buffalo Pet Products jumped after General Mills agreed to buy the pet food maker. Bond yields continued to recede from the four-year highs they...

The Navy's cutting-edge method of launching aircraft faces reliability issues

Vie, 02/23/2018 - 08:00

For more than 60 years, the U.S. Navy has relied on steam power to catapult planes off the decks of aircraft carriers, leaving behind a telltale trail of steam rising from the track.

A new generation of carriers will rely on something far more technologically complex: an electromagnetic system...

Cashing in medals for money is tough sledding for most U.S. Olympians

Vie, 02/23/2018 - 05:00

When she arrived for the Winter Olympics in South Korea, Chloe Kim already was an accomplished snowboarder with a handful of endorsement deals from the likes of Visa Inc., Nike Inc. and Toyota Motor Corp.

Then came her dominating performance to win the gold medal in the women’s snowboarding halfpipe...

California has strict rules for political robocalls — and they're routinely ignored

Vie, 02/23/2018 - 05:00

A federal district court judge ruled the other day that it’s constitutional for Montana to ban political robocalls, even though political consultants who had sued the state claimed their right to free speech had been violated.

U.S. District Court Senior Judge Charles Lovell said Montana’s law limiting...

China regulators take control of Anbang Insurance for one year

Jue, 02/22/2018 - 20:50

China’s government is taking over Anbang Insurance Group Co., owner of New York’s famed Waldorf Astoria, and will prosecute founder Wu Xiaohui, cementing the downfall of a politically connected deal-maker whose aggressive global expansion came to symbolize the financial overreach of China’s debt-laden...

Secretive big-data firm Palantir must give internal files to unhappy investor, judge rules

Jue, 02/22/2018 - 15:40

Secretive data-analytics company Palantir Technologies Inc. must turn over internal files to one of its early investors who accuses the firm of improperly blocking his efforts to sell his shares.

Marc Abramowitz, a managing member of KT4 Partners LLC, properly sought the confidential information...

Sky-high rents and home prices are making it hard for Southern California businesses to attract workers

Jue, 02/22/2018 - 11:00

Ace Clearwater Enterprises needs to hire four welders.

The South Bay aerospace company could also use three more machinists, as well as four specialists who use 7-ton drop hammers to form metal parts for fighter jets.

But filling those positions is tough. Many young Californians are going to college,...

SpaceX launch brings Elon Musk's broadband-internet satellite plan closer to reality

Jue, 02/22/2018 - 10:25

SpaceX is one step closer to providing low-cost broadband internet access after launching the first two demonstration satellites for its planned satellite constellation Thursday morning.

The two demonstration satellites, known as Microsat-2a and Microsat-2b, were the secondary payload on Thursday’s...

Electric vehicles' future relies on cobalt. It's often mined by children and is soaring in price

Jue, 02/22/2018 - 10:00

The road to an imminent electric vehicle future has hit a speed bump — one made of cobalt.

An essential ingredient in lithium-ion batteries that power millions of smartphones as well as plug-in electric cars, cobalt is in heavy demand.

But just as the silverish-gray metal has established itself...

Stocks move broadly higher, led by tech firms and banks

Jue, 02/22/2018 - 09:25

Technology companies and banks helped drive U.S. stocks broadly higher in early trading Thursday. Bond yields declined after spiking the day before amid rekindled fears of higher interest rates. Investors were sizing up the latest company earnings news. Crude oil prices headed higher.