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| October 21, 2017

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LA Times Archives - Page 2 of 1032 -

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

Stocks fall, pulled down by tech and financial shares

October 19, 2017 |

Technology companies and banks are leading U.S. stocks slightly lower in early trading on Wall Street.

Apple gave up 2% early Thursday, while Facebook lost 1.3% and Google’s parent company, Alphabet, lost 1%.

Among financial companies, American Express fell 1.8% after announcing that its CEO was…


L.A. Times – Business

Despite backlash over political ads, Facebook’s role in elections will only grow

October 19, 2017 |

Negative headlines. Congressional inquiries. Corporate apologies. The heightening scrutiny surrounding Facebook after it allowed Russian trolls and inflammatory political ads to spread on its network is the kind of thing companies would do anything to avoid.

But don’t expect it to harm the tech…


L.A. Times – Business

Dow closes above 23,000 as stock indexes set new highs

October 19, 2017 |

A day of modest gains on Wall Street resulted in more milestones for U.S. stocks Wednesday as the Dow Jones industrial average closed above 23,000 points for the first time.

The Standard & Poor’s 500 index and Nasdaq composite also finished at record highs.

Technology stocks and financial companies…


L.A. Times – Business

SeaWorld cuts 350 jobs, including 79 in California

October 19, 2017 |

SeaWorld Entertainment Inc., which has struggled with declining attendance, said Wednesday that it is cutting 350 positions.

The company is laying off people and not refilling open positions across the company, although the cuts primarily affect its corporate headquarters in Orlando, Fla., and…


L.A. Times – Business

LA Weekly is being sold to Semanal Media, a mysterious new company

October 18, 2017 |

LA Weekly’s owner, Voice Media Group, has agreed to sell the alternative weekly newspaper as it sheds print assets and focuses on its digital business, a representative for Voice Media confirmed Wednesday.

The buyer, Semanal Media, is a new entity created for the purpose of this transaction, said…


L.A. Times – Business

Chicago fires 2 security officers involved in dragging man off United Airlines flight

October 18, 2017 |

The Chicago Department of Aviation has fired two of its officers involved in April’s widely publicized dragging of a passenger off a United Airlines flight, according to the city’s top watchdog.

The dragging, captured on video by another passenger and spread on social media worldwide, involved…


L.A. Times – Business

Netflix sinking deeper into debt to fuel subscriber growth

October 18, 2017 |

Netflix is sinking deeper into debt in its relentless pursuit of more viewers, leaving the company little margin for error as it tries to build the world’s biggest video subscription service.

The big burden that Netflix is shouldering hasn’t been a major concern on Wall Street so far, as CEO Reed…


L.A. Times – Business

Airbus notches win over rival Boeing with Bombardier deal

October 18, 2017 |

Airbus scored a point in its high-stakes rivalry with Boeing by striking a deal just across the U.S. border.

The European plane maker reached an unusual, no-cost deal with Canada’s Bombardier that sent Airbus shares up Tuesday, boosts both companies’ prospects in Asia and should save thousands…


L.A. Times – Business