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| August 27, 2016

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Carl Icahn buys more Herbalife shares, flouting Bill Ackman

August 26, 2016 |

A long-running feud over Herbalife Ltd. between billionaire hedge fund managers Carl Icahn and Bill Ackman heated up Friday, with Ackman saying that Icahn was looking to sell his stake in the Los Angeles maker of nutritional supplements and Icahn saying that’s not the case.

Ackman, confirming an…


L.A. Times – Business

Stocks give back gains after upbeat remarks from Fed chair

August 26, 2016 |

Stocks were mostly lower on Wall Street at midday, giving up a modest gain following a generally upbeat assessment of the economy from Fed Chair Janet Yellen. 

Yellen, speaking at a conference of monetary officials in Jackson Hole, Wyo., on Friday, said the case for raising interest rates has strengthened,…


L.A. Times – Business

ITT Tech banned from taking new students with federal aid

August 26, 2016 |

The U.S. Department of Education has banned the for-profit college chain ITT Educational Services from enrolling new students who use federal financial aid. 

Department officials announced the action on Thursday amid a series of measures that could threaten the survival of the chain, which has…


L.A. Times – Business

They built towering new cities in China. Now they’re trying it in downtown L.A.

August 26, 2016 |

Winston Yan stood atop the largest real estate project of its kind in downtown Los Angeles, a monstrous patchwork of glass and concrete next to the 110 Freeway, and marveled at the bustle of workers, construction vehicles and cranes 38 stories below.

The scope of development in this mixed-use project,…


L.A. Times – Business