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| October 21, 2017

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Judge tosses $417-million award against Johnson & Johnson

October 21, 2017 |

A judge on Friday tossed out a $ 417-million jury award to a woman who claimed she developed ovarian cancer by using Johnson & Johnson’s talc-based baby powder for feminine hygiene.

Los Angeles County Superior Court Judge Maren Nelson granted the company’s request for a new trial, saying there were…


L.A. Times – Business

SBE launches expansion to Latin America and the Middle East

October 21, 2017 |

The company that began with a handful of hip nightclubs in Los Angeles has announced its latest expansion, adding hotels, restaurants and condominium projects in Latin America and the Middle East.

SBE, founded by nightclub mogul Sam Nazarian, confirmed it reached 10 agreements this week to more…


L.A. Times – Business

State attorney general accuses retailer Curacao of unlawful business practices

October 20, 2017 |

Curacao, a Southern California electronics retailer that caters to Latinos, was accused of several unlawful business practices in a civil lawsuit filed by state Atty. Gen. Xavier Becerra.

The practices harmed consumers and in some cases resulted in shoppers paying substantially more for products…


L.A. Times – Business

JetBlue to remove its fares from several online travel booking sites

October 20, 2017 |

JetBlue Airways is removing its fares and schedules from 11 online travel booking sites, saying the move will cut costs and help keep fares low.

The decision follows the lead of Southwest Airlines, which has long kept its booking information from some of the most popular online travel sites. Delta…


L.A. Times – Business

Banks, technology lead early gains for U.S. stocks

October 20, 2017 |

U.S. stocks were up slightly in early trading Friday as investors cheered a crop of strong company earnings. Technology companies posted some of the biggest gains. A jump in bond yields also helped lift bank shares. Consumer products companies lagged the most. Energy stocks declined following a…


L.A. Times – Business

Lower drug prices? Trump has one idea, but insurance giant Anthem has another

October 20, 2017 |

The sky-high cost of prescription meds was back in the spotlight this week. First, President Trump said drug prices “are out of control” and drug companies are “getting away with murder.”

Then came news that the country’s second-largest health insurer, Anthem, will partner with CVS to launch its…


L.A. Times – Business

U.S. unemployment claims fall to the lowest in 44 years

October 20, 2017 |

The number of Americans collecting unemployment benefits fell last week to the lowest level since Richard Nixon was president.

The Labor Department said Thursday that claims for jobless aid dropped by 22,000 to 222,000, the fewest since March 1973. The less volatile four-week average slid by 9,500…


L.A. Times – Business

Toyota headquarters in Torrance sold for $270 million to Irvine real estate developer

October 20, 2017 |

Developer Sares-Regis Group has acquired the former Toyota headquarters in Torrance for $ 270 million — making it one of the biggest real estate transactions of the year in the region, where there is high demand for campus-style offices.

The price was nearly double earlier estimates and indicates…


L.A. Times – Business

Senate Democrats fail in first attempt to save state and local tax deduction

October 19, 2017 |

Senate Democrats on Thursday failed in their first attempt to save the state and local tax deduction, which helps many residents of California and other high-cost states reduce their federal income tax bills.

The Republican-controlled Senate voted 52 to 47 to reject an amendment that would have…


L.A. Times – Business

Workers’ lawsuit accuses ritzy Terranea Resort of wage theft

October 19, 2017 |

Workers at the Terranea Resort in Rancho Palos Verdes plan to sue the ritzy hotel, contending they aren’t paid for the time they spend waiting to get uniforms before each shift and being driven on a bus from a remote parking lot.

The lawsuit, scheduled to be filed Thursday in Los Angeles County…


L.A. Times – Business