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| June 28, 2017

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LA Times Archives -

It’s ‘unlikely’ the U.S. economy’s growth will meet Trump’s goal, International Monetary Fund says

June 28, 2017 |

The International Monetary Fund has trimmed its outlook for the U.S. economy, citing the number of uncertainties that surround President Trump’s plans to boost economic growth.

The IMF forecasts that the U.S. economy will grow this year at an annual rate of 2.1%. That would be an improvement over…


L.A. Times – Business

EPA chief met with Dow Chemical CEO before deciding not to ban toxic pesticide

June 28, 2017 |

The Trump administration’s top environmental official met privately with the chief executive of Dow Chemical shortly before reversing his agency’s push to ban a widely used pesticide that health studies showed can harm children’s brains, newly released records reveal.

Environmental Protection Agency…


L.A. Times – Business

$2-million settlement ends accusations that L.A. credit-repair firms misled consumers

June 28, 2017 |

Credit-repair services promise to help consumers fix their credit scores, but there’s only so much they can do. They can help clear up inaccurate or outdated information on a consumer’s credit report, but they can’t erase legitimate dings.

But the Consumer Financial Protection Bureau alleged that…


L.A. Times – Business

FDA says it will prioritize generic drugs to help control prices

June 27, 2017 |

The Food and Drug Administration said it’s taking steps to boost the number of generic prescription drugs on the market in an effort to make medicines more affordable and to prevent price gouging.

Copycat pills generally have been much cheaper than original brand-name drugs. But recent high-profile…


L.A. Times – Business

Southern California’s grocery battle heats up with the spread of discounter Aldi

June 27, 2017 |

Ralphs was the supermarket of choice for Inglewood hairdresser Elise Santos — until grocery chain Aldi arrived in Southern California last year.

Aldi, a German-based discount grocer, opened its first U.S. store in 1976 but reached California only last year. It’s now rapidly expanding and quickly…


L.A. Times – Business

Stocks open slightly lower on Wall Street

June 27, 2017 |

Stocks are opening slightly lower on Wall Street, led by declines in phone and technology companies.

Verizon lost 1.8% early Tuesday, AT&T fell 1.1% and Microsoft slipped 0.8%.

Darden Restaurants rose 3% after reporting earnings that were better than analysts expected.

The Standard & Poor’s 500…


L.A. Times – Business

European Union fines Google a record $2.7 billion

June 27, 2017 |

The European Union’s competition watchdog has slapped a record $ 2.72 billion fine on Internet giant Google for breaching antitrust rules with its online shopping service.

European regulators said Tuesday that “Google has abused its market dominance as a search engine by giving an illegal advantage…


L.A. Times – Business

U.S. stock indexes close mostly higher; oil recovers

June 27, 2017 |

U.S. stock indexes closed mostly higher Monday, snapping a four-day losing streak for the Dow Jones industrial average on a day of largely listless trading.

Utilities led the gainers as falling bond yields made high-dividend companies more attractive to income-seeking investors. Phone companies…


L.A. Times – Business

Reagan was right: Senate healthcare bill proves government is the problem

June 27, 2017 |

Ronald Reagan famously declared that government isn’t the solution, it’s the problem.

On Monday, the nonpartisan Congressional Budget Office concluded that, as far as Reagan’s own party is concerned, the former president had a point.

The CBO released its analysis of Republican senators’ secretly…


L.A. Times – Business

Los Angeles seeks $1.45 million from Carl’s Jr. for alleged minimum-wage violations

June 26, 2017 |

Los Angeles city officials alleged Monday that fast-food chain Carl’s Jr. failed to pay the minimum wage to three dozen local workers for six months and is demanding $ 1.45 million in fines and restitution.

“L.A. law is clear: Employees must be paid at least the minimum wage,” City Atty. Mike Feuer…


L.A. Times – Business