Image Image Image Image Image Image Image Image Image Image Image Image

| May 23, 2019

Scroll to top

Top

LA Times Archives -

Markets tumble as trade war fear grows

May 23, 2019 |

Global stocks tumbled Thursday as investors’ anxiety over the U.S. trade spat with China increased with the two sides showing no hurry to get back to the negotiating table.

In the U.S., the Dow Jones industrial average was down about 300 points. Most sectors in the S&P 500 fell and the index is…


L.A. Times – Business

Engineer falsified reports on critical SpaceX parts, prosecutors say

May 23, 2019 |

A New York employee of a now-defunct aerospace-machining supplier has been charged with falsifying at least three dozen quality-assurance reports for parts that went into SpaceX rockets, prosecutors said Wednesday.

James Smalley, 41, of Penn Yan, N.Y., forged signatures on source-inspection reports…


L.A. Times – Business

Amazon shareholders vote down facial recognition, climate change proposals

May 23, 2019 |

Amazon.com Inc. shareholders rejected a large slate of proposals at the company’s annual meeting Wednesday, including one that would have restricted the use of controversial facial recognition technology.

Proposals calling for Amazon to end the sale of its Rekognition technology to governments…


L.A. Times – Business

San Diego’s Sempra Energy strikes deal to sell natural gas to Saudi Aramco

May 23, 2019 |

Sempra Energy’s ambitions to become a major player in the global liquefied natural gas market took another big step when the San Diego-based energy giant Wednesday announced an initial agreement with Saudi Aramco to take part in Sempra’s proposed LNG facility on the Texas Gulf Coast.

Aramco is…


L.A. Times – Business

Elon Musk company to build underground transit loop for Las Vegas Convention Center

May 23, 2019 |

Billionaire Elon Musk finally has a chance at completing a commercial tunneling project after his Boring Co. secured a $ 48.7-million contract to build a transit system for Las Vegas’ expanding convention center.

The Las Vegas Convention and Visitors Authority’s 14-member board approved the contract…


L.A. Times – Business

SpaceX challenges Air Force awards on security satellite launches

May 22, 2019 |

Elon Musk-led SpaceX is formally challenging the U.S. Air Force’s decision last year to award a round of rocket development contracts to competitors, arguing that the Hawthorne company’s entire proposal was incorrectly deemed the one with “highest risk.”

In October, the Air Force awarded a combined…


L.A. Times – Business

Fed officials broadly agreed to keep interest rates steady

May 22, 2019 |

Federal Reserve officials believe that their patient approach to interest-rate changes is likely to be appropriate “for some time” — despite pressure from President Trump to lower rates to expedite growth.

That’s the takeaway from the minutes released Wednesday of the Federal Open Market Committee’s…


L.A. Times – Business

Stocks open lower on developments in China trade war

May 22, 2019 |

Stocks are opening lower Wednesday on Wall Street as investors eye developments in the U.S.-China trade dispute and absorb a key ruling in an antitrust case involving chipmaker Qualcomm.

Reports say the U.S. may block several Chinese surveillance companies from buying American components. An earlier…


L.A. Times – Business

An abandoned mine near Joshua Tree could host a massive hydropower project

May 22, 2019 |

An abandoned iron mine on the doorstep of Joshua Tree National Park could be repurposed as a massive hydroelectric power plant under a bill with bipartisan support in the state Legislature.

Senate Bill 772, which was approved by a panel of lawmakers last week with no dissenting votes, would require…


L.A. Times – Business

New Twitter experiment is showing some users more ads

May 22, 2019 |

If you feel like you’ve been seeing more Twitter ads lately, it’s not just your imagination.

A Twitter Inc. spokeswoman said Tuesday that the company is experimenting with ad load, the industry term used to describe how frequently users are shown advertisements.

As a result, some people are getting…


L.A. Times – Business