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| February 24, 2018

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

February 23, 2018 |

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…


L.A. Times – Business

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

February 23, 2018 |

“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…


L.A. Times – Business

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

February 23, 2018 |

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…


L.A. Times – Business

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

February 23, 2018 |

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…


L.A. Times – Business

China regulators take control of Anbang Insurance for one year

February 23, 2018 |

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…


L.A. Times – Business

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

February 23, 2018 |

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…


L.A. Times – Business

Stocks end mostly higher; industrial companies climb

February 22, 2018 |

U.S. stocks closed mostly higher Thursday after a wave of selling late in the session erased much of the day’s gains.

Gains in industrial companies and other sectors outweighed losses in banks and healthcare stocks. Energy companies rose after crude oil prices recovered from an early slide.

Bond…


L.A. Times – Business

Southern California businesses are struggling to attract workers due to high housing costs

February 22, 2018 |

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,…


L.A. Times – Business

Home sales fall as supply hits record low and prices rise, Realtors group says

February 22, 2018 |

Sales of existing homes in the U.S. fell in January from a year earlier by the most in more than three years. Would-be buyers were stymied by rising prices and a shortage of homes for sale.

The National Assn. of Realtors said Wednesday that sales dropped 3.2% from December to January, the second…


L.A. Times – Business

Bond yields jump, upending stocks’ rally

February 22, 2018 |

U.S. stocks closed broadly lower Wednesday, erasing a gain, as investors reacted to a surge in bond yields late in the session.

Bond yields climbed to their highest level in four years after the Federal Reserve released minutes from its latest policy meeting. The minutes showed bullish sentiment…


L.A. Times – Business