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| April 23, 2018

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LA Times Archives - Page 3 of 1143 -

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

B-21 bomber finishes preliminary design review, and Air Force official is ‘comfortable’ with progress

April 19, 2018 |

A U.S. Air Force official told a Senate subcommittee Wednesday that the new B-21 bomber has completed its preliminary design review and that he was “comfortable” with the progress made by builder Northrop Grumman Corp.

The bomber is now on its way to critical design review, said Lt. Gen. Arnold…


L.A. Times – Business

Solar panel maker SunPower is buying tariff-loving rival that hurt its sales

April 19, 2018 |

SunPower Corp.’s new strategy: If you can’t beat them in the tariff game, buy them.

The panel maker, which spent more than a year fighting U.S. import tariffs, announced Wednesday that it is buying a rival that was instrumental in pushing for them. The purchase of SolarWorld Americas for an undisclosed…


L.A. Times – Business

Time Warner CEO Jeff Bewkes calls government antitrust allegations ‘ridiculous’

April 19, 2018 |

Time Warner Inc.’s chief executive testified Wednesday that the government’s assertions that AT&T Inc. wanted to buy the company to use its programming as leverage over distributors “makes no sense” because it would limit viewership.

“I think it’s ridiculous. It’s not how this works,” Jeff Bewkes…


L.A. Times – Business