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| April 21, 2019

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LA Times Archives - Page 2 of 1359 -

Uber’s self-driving unit secures $1-billion investment ahead of IPO

April 19, 2019 |

Ahead of an initial public offering expected next month, Uber Technologies Inc. secured a $ 1-billion investment in its self-driving unit from three Japanese companies.

Denso Corp., Toyota Motor Corp. and SoftBank Group Corp.’s Vision Fund bought stakes in the unit, valuing the arm at $ 7.25 billion,…


L.A. Times – Business

Zoom’s China-born founder vaults to billionaire status after whiz bang IPO

April 19, 2019 |

After hearing Microsoft Corp. co-founder Bill Gates give a speech about the internet three decades ago, Eric Yuan decided he wanted to become part of the Silicon Valley dot-com boom.

Then the China-born entrepreneur hit a snag. The U.S. government denied his visa application — eight times.

After…


L.A. Times – Business

Stocks edge up at the end of a holiday-shortened week

April 19, 2019 |

The major U.S. stock indexes capped a holiday-shortened week with slight gains Thursday, reversing some of the modest losses from the day before.

The day’s marginal upward move was not enough to keep the benchmark Standard & Poor’s 500 index from snapping a streak of three straight weekly gains.


L.A. Times – Business

Workplace wellness programs barely move the needle, study finds

April 19, 2019 |

Most large employers offer some type of workplace wellness program — efforts to get workers to lose weight, eat better, stress less and sleep more — with growth fueled by incentives in the federal Affordable Care Act.

But no one has been sure that the $ 8-billion industry improves employee health…


L.A. Times – Business

Trump’s new NAFTA would hit the auto sector, report finds

April 18, 2019 |

President Trump’s new North American trade deal would lead to higher car prices for U.S. consumers and a decline in auto sales even as it modestly helps the nation’s broader economy, an independent government report released Thursday estimated. That undercuts one of the White House’s key sales…


L.A. Times – Business

Canadian pot company buys New York rival in $3.4-billion bet on U.S. market

April 18, 2019 |

Canopy Growth Corp., the world’s most valuable marijuana company, is making a big bet on the U.S. market.

Canopy, which was sitting on a pile of cash after a high-profile investment last year from alcohol giant Constellation Brands Inc., has agreed to buy the New York-based put company Acreage…


L.A. Times – Business

FCC chief seeks to deny China Mobile from operating in the U.S.

April 18, 2019 |

The top U.S. communications regulator urged the rejection of China Mobile Ltd.’s application to provide telecommunications services in the American market, opening another front in the trade fight between the world’s biggest economies.

Federal Communications Commission Chairman Ajit Pai said Wednesday…


L.A. Times – Business

L.A. City Council moves to outlaw discrimination against Section 8 tenants

April 18, 2019 |

The Los Angeles City Council on Wednesday moved forward with a law that would bar landlords from refusing to consider tenants with Section 8 vouchers.

In a 12-0 vote, the council instructed the city attorney to draft an ordinance that would extend protections against so-called source-of-income…


L.A. Times – Business

KPC Group gets court approval to acquire four Verity hospitals

April 18, 2019 |

A bankruptcy court judge has approved Corona-based KPC Group’s $ 610-million bid to acquire four of the nonprofit Verity Health System hospitals, including two in Southern California, KPC Group said Wednesday.

Verity’s board of directors had approved KPC Group’s bid Monday, but the state attorney…


L.A. Times – Business

Smart & Final markets bring $500 million in sale to an investment firm

April 18, 2019 |

Smart & Final Stores Inc.’s stock soared Wednesday after the grocery retailer agreed to be acquired by the investment firm Apollo Global Management for nearly $ 500 million in cash.

The stock jumped $ 1.10, or 20%, to $ 6.49 a share after Apollo said late Tuesday that it would offer $ 6.50 for each…


L.A. Times – Business