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Remember the subprime mortgage mess? $1.2 trillion in risky corporate debt is flashing similar warning signs

Dom, 01/20/2019 - 07:00

Indebted borrowers increasingly take out high-interest, adjustable-rate loans that are packaged into securities and sold to investors eager for a better rate of return.

Everything’s fine while the economy is growing. But when it slows, those borrowers could default, causing problems to cascade...

Is it smarter to save for retirement or pay off debt first?

Dom, 01/20/2019 - 05:00

Dear Liz: I graduated from college in May and began a full-time job in October making $36,000. I also do freelance work and receive anywhere from $500 to $1,000 a month from that. I live at home, so I don't have to pay for rent or groceries, which really helps. Currently, I have just over $18,800...

Onetime Jackie Robinson scholarship recipient Nichol Whiteman helped the Dodgers Foundation find its swing

Dom, 01/20/2019 - 05:00

Nichol Whiteman was drafted in 2013 to help boost the stats of the Los Angeles Dodgers Foundation, which suffered a series of scandals — including a state investigation citing improper expenditures — during the time that Frank McCourt owned the team. Under her leadership, the Dodger organization’s...

KPC Group bids to buy four Verity Health hospitals

Vie, 01/18/2019 - 22:05

Corona-based KPC Group has bid $610 million to purchase four of the nonprofit Verity Health System hospitals, including two in Southern California.

The KPC Group is the initial bidder for St. Francis Medical Center in Lynwood, St. Vincent Medical Center in Los Angeles, Seton Medical Center in Daly...

David's Bridal emerges from bankruptcy after less than two months

Vie, 01/18/2019 - 18:15

David’s Bridal Inc., America’s largest wedding gown retailer, emerged from bankruptcy on Friday, just weeks after it first sought protection from creditors.

David’s Bridal shrank its debt load by about $450 million and is now owned by lenders including Oaktree Capital Group. The company, which...

Stocks climb, notching fourth straight week of gains

Vie, 01/18/2019 - 17:45

U.S. stocks jumped Friday as renewed hopes for progress in U.S.-China trade talks helped the market finish the week with another strong gain.

Indexes jumped after Bloomberg News reported that China’s government offered to buy more goods and services from the United States, potentially eliminating...

IRS releases rules on 20% tax break for pass-through business owners

Vie, 01/18/2019 - 16:45

Business owners — and their accountants — can rest a bit easier: The Internal Revenue Service has provided the long-anticipated final word on how they can claim one of the biggest perks in the 2017 Republican tax overhaul.

The regulations detailing the new 20% deduction for pass-through business...

Apple-Qualcomm chip deals may not have collapsed over patent fees, leaked emails suggest

Vie, 01/18/2019 - 14:50

When Apple Inc. executive Jeff Williams told a courtroom that Qualcomm Inc. cut off chip supply for iPhones, it was compelling testimony in the Federal Trade Commission’s antitrust case against the semiconductor company.

The FTC argues that Qualcomm won’t sell chips if customers don’t also pay...

California economy finishes 2018 on a strong note, adding 24,500 jobs

Vie, 01/18/2019 - 14:40

California’s job market finished 2018 on a strong note as payrolls continued to expand despite concerns over a volatile stock market, a continuing trade war with China and fears of a possible U.S. recession.

The state added 24,500 net new positions in December for a total of about 17.28 million,...

Some home shoppers are calling it quits, convinced that prices have peaked

Vie, 01/18/2019 - 14:10

Two years ago, Mike Saavedra moved to Southern California, equipped with a new high-paying healthcare job and a plan. The former Arizona resident would rent by the beach while becoming familiar with neighborhoods where he may want to purchase a house.

But a few months after starting his search,...

China offers a path to end U.S. trade deficit, sources say

Vie, 01/18/2019 - 12:25

China has offered to go on a six-year buying spree to ramp up imports from the U.S., a move that would reconfigure the relationship between the world’s two largest economies, according to officials familiar with the negotiations.

By increasing goods imports from the U.S. by a combined value of...

Honda’s new CRF450L motorcycle straddles the road and dirt, but may struggle to find riders

Vie, 01/18/2019 - 09:00

For years, dual-sport riders have dreamed of the perfect dual-sport motorcycle, the just-right Goldilocks bike that would be as capable in the dirt as it is on the street, and conquer the mountain trails and city traffic with equal ease.

Most offerings lean too heavily one way or the other. This...

Office tenants keep growing in Los Angeles despite fears of economic slowdown

Vie, 01/18/2019 - 07:00

Office leasing in Los Angeles County stayed strong in the fourth quarter of 2018 and is expected to perform well in the months ahead despite concerns that the market may soften because of a possible economic slowdown.

Signing some of the biggest leases were expanding entertainment companies such...

Huawei CFO Meng Wanzhou awaits her fate in house-arrest splendor

Vie, 01/18/2019 - 07:00

Meng Wanzhou steps out of her $4.2-million mansion, a GPS monitor strapped to her ankle, and slips into a chauffeured black SUV. Then she’s off, largely free to roam the shops and restaurants within 100 square miles of Vancouver, Canada, until her 11 p.m. curfew.

So goes another day of house arrest...

Tesla plans 7% staff cut and says the road ahead ‘is very difficult’

Vie, 01/18/2019 - 05:05

Saying the road ahead was "very difficult," Tesla's CEO Elon Musk said Friday that the company would be cutting its staff by about 7 percent.

The electric car and solar panel maker notified its employees about the staff cuts and other plans in an email posted on Tesla Inc.'s website.

Musk said...

In Tribune Publishing shake-up, chief executive and former Times executives leave

Jue, 01/17/2019 - 21:00

Tribune Publishing, after months of turmoil, has shaken up its leadership in a dramatic overhaul that further distances the company’s management from its former chairman, Michael Ferro.

The Chicago-based company announced late Thursday that Chief Executive Officer Justin Dearborn was stepping down...

Hungry for cash, Musk says company can no longer afford free Supercharging for new buyers

Jue, 01/17/2019 - 18:10

Tesla needs more cash. To help keep what it’s got from flying out the door, Chief Executive Elon Musk on Wednesday announced the end of a customer referral program that offers free Supercharging to new buyers.

“It’s adding too much cost to the cars, especially the Model 3,” Musk said in a tweet...

Stocks gain after reports of possible progress on U.S.-China trade dispute

Jue, 01/17/2019 - 16:40

U.S. stocks climbed Thursday after a report that U.S. officials could reduce the new tariffs on Chinese imports as part of trade negotiations between the two countries — the latest in a series of potentially conflicting updates on the trade dispute.

Citing sources close to the discussions, the...

Facebook removes bogus accounts it says had ties to state-sponsored Russian news service

Jue, 01/17/2019 - 13:20

Facebook Inc. said it disrupted two campaigns run by fake accounts with links to Russia and its Sputnik news service as it continues to grapple with misinformation on its platform.

Facebook removed 289 pages and 75 accounts it says were engaged in “inauthentic behavior” and targeted Facebook members...

Gymboree, Crazy 8 chains to shut down after retailer files for bankruptcy a second time

Jue, 01/17/2019 - 12:10

Gymboree Group Inc. will shut down its Gymboree and Crazy 8 clothing chains after declaring bankruptcy for a second time and failing to find a buyer for the stores, which have been hit hard by a decline in mall traffic.

The San Francisco-based company filed for Chapter 11 bankruptcy protection...