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| April 21, 2018

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AT&T and Verizon are under federal investigation for potential collusion

April 21, 2018 |

The Justice Department is investigating potential efforts by AT&T and Verizon to hamstring a technology that could someday make it easier for consumers to seamlessly switch their wireless carriers, according to three people familiar with the matter.

The investigation appears to focus on whether…


L.A. Times – Business

U.S. reportedly raises objections to state-run Chinese company taking control of Long Beach port terminal

April 20, 2018 |

U.S. regulators are reportedly raising objections that Cosco Shipping, a state-run Chinese company, could take control of a container terminal at the Port of Long Beach as part of its $ 6.3-billion acquisition of another company.

The concerns have been raised by the Committee on Foreign Investment…


L.A. Times – Business

Most of Trump’s merchandising empire has faded

April 20, 2018 |

Before he ran for office, Donald Trump made millions of dollars by selling his name to adorn other people’s products. There was Trump deodorant. Trump ties. Trump steaks. Trump underwear. Trump furniture. At one time, there was even a Trump-branded urine test.

Now, almost all of them are gone.


L.A. Times – Business

Wells Fargo to pay $1 billion in fines over auto, mortgage lending abuses

April 20, 2018 |

Federal regulators slapped Wells Fargo & Co. with a fine of $ 1 billion on Friday, punishing the San Francisco bank for abuses that harmed mortgage and auto loan borrowers, and for what regulators said was a pervasive and “reckless” lack of risk management.

The penalty, announced by the Office of…


L.A. Times – Business

The insanity of covering a $50,000 knee operation but not a relatively cheap injection

April 20, 2018 |

Why give someone with bum knees a once-a-year injection costing as little as a few hundred bucks when you can instead make them undergo complicated knee-replacement surgery costing tens of thousands of dollars?

That, in a nutshell, is one reason the U.S. healthcare system is the most expensive…


L.A. Times – Business

Mattel CEO Margo Georgiadis is leaving the struggling toy maker after 14 months

April 20, 2018 |

Mattel Inc. said Thursday that its chief executive, Margaret “Margo” Georgiadis, is leaving the El Segundo toy maker after she failed to halt the slide in Mattel’s performance during her 14-month tenure.

Georgiadis is departing “to pursue a new opportunity in the technology sector,” Mattel said….


L.A. Times – Business

Stocks fall broadly, giving the market its first loss of the week

April 20, 2018 |

Losses among technology and consumer products companies weighed on U.S. stocks Thursday, snapping a three-day winning streak for the market.

Banks bucked the trend, rising along with bond yields. Energy companies also eked out a slight gain, despite a downturn in oil prices. The broad market slide…


L.A. Times – Business

Welcome to L.A.’s luxury hotel boom, featuring $20,000 suites and James Bond exotic cars

April 19, 2018 |

At the newest five-star hotel around Los Angeles, a massive bronze chandelier hangs from its nearly three-story Art Deco lobby, suffused with the scent of fresh-cut roses.

Upstairs, each room is fitted with floor-to-ceiling windows that open to balconies with views of Santa Monica Bay on one side…


L.A. Times – Business

AT&T’s Randall Stephenson tries to close the deal on Time Warner merger at antitrust trial

April 19, 2018 |

AT&T Inc.’s top executive gave a vigorous defense of the proposed $ 85.4-billion deal to buy Time Warner, describing it as key to the company’s ability to compete with a new generation of high-tech competitors.

“This world is changing fast,” said Randall Stephenson, who took the witness stand at…


L.A. Times – Business

Men arrested at Starbucks say they feared for their lives

April 19, 2018 |

Rashon Nelson initially brushed it off when the Starbucks manager told him he couldn’t use the restroom because he wasn’t a paying customer.

He thought nothing of it when he and his business partner, Donte Robinson, were approached at their table and were asked if they needed help. The 23-year-old…


L.A. Times – Business