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| June 24, 2017

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LA Times Archives - Page 3 of 961 -

Amazon and Whole Foods could revolutionize grocery delivery. But do shoppers want it?

June 21, 2017 |

A giant in the technology industry had a bold idea: reinvent the way people shop, rendering grocery stores a quaint reminder of the past.

That company was Webvan, and it attracted $ 800 million in funding before filing for bankruptcy at the peak of the dot-com bust nearly two decades ago. The lesson…


L.A. Times – Business

U.K. fraud regulator charges Barclays over Qatar fundraising

June 21, 2017 |

British regulators have charged Barclays bank and four former executives, including the chief executive, with conspiracy to commit fraud when they sought investment from Qatar in 2008.

The bank, former CEO John Varley, 61, former investment banking chief Roger Jenkins, 61, Thomas Kalaris, 61, who…


L.A. Times – Business

Barbie, are you ready for man-bun or Dad-bod Ken?

June 20, 2017 |

Last year when El Segundo-based Mattel unveiled a bumper crop of new Barbies, including curvier, taller and more petite versions of its flagship fashion doll, one social media commenter quipped, “But what about #dadbod Ken?” referring to the perfectly chiseled abs and molded plastic hair of Ken…


L.A. Times – Business

As the legislative clock ticks, Ryan launches push to pass sweeping tax overhaul

June 20, 2017 |

House Speaker Paul D. Ryan launched a major push Tuesday to overhaul the tax code this year — including massive cuts — but Republicans in Congress and the White House are running out of time as they continue to battle over the details.

With the year’s legislative days dwindling, Ryan (R-Wis.) tried…


L.A. Times – Business

Stocks falter as oil prices slump

June 20, 2017 |

The price of oil slumped Tuesday to its lowest level of the year and helped to restrain U.S. stock indexes, which were at record highs the day before.

KEEPING SCORE: The Standard & Poor’s 500 index fell 7 points, or 0.3%, to 2,446, as of 10 a.m. EDT. The Dow Jones industrial average fell 15 points,…


L.A. Times – Business

Trump’s answer to the obesity epidemic: Here, have a cookie

June 20, 2017 |

The most attention-getting news out of the food industry last week was Amazon’s announcement Friday that it’s buying Whole Foods for nearly $ 14 billion. But that wasn’t the most important news.

The most important news was a largely overlooked announcement from the Trump administration that it’s…


L.A. Times – Business

L.A. and Long Beach port workers begin striking

June 20, 2017 |

Shouts of “What do we want? Justice! When do we want it? Now!” rang out as picketers congested the Evegreen yard in San Pedro on Monday, temporarily blocking up to 50 trucks from entering the terminal.

Around 60 truck drivers and warehouse workers serving the Los Angeles and Long Beach ports began…


L.A. Times – Business

Speculation grows that Amazon will face a rival bidder for Whole Foods

June 20, 2017 |

Amazon.com’s plan to buy Whole Foods Market Inc. sparked an avalanche of discussion about how the online retail giant could transform the U.S. grocery industry in the years ahead.

But Amazon’s $ 13.7-billion deal might not be the last word on the merger itself.

Wall Street signaled Monday that it…


L.A. Times – Business

Elizabeth Warren calls on Fed to remove Wells Fargo board members over accounts scandal

June 19, 2017 |

Sen. Elizabeth Warren is calling on the Federal Reserve to remove Wells Fargo & Co. board members who presided over the bank when it opened millions of consumer accounts without customers’ authorization.

The scandal, which erupted last year, “revealed severe problems with the bank’s risk management…


L.A. Times – Business

Consumer bureau director defends handling of Wells Fargo scandal in face of GOP criticism

June 19, 2017 |

The federal government’s consumer financial watchdog is defending his handling of the Wells Fargo & Co. unauthorized accounts scandal in the face of Republican charges that the agency failed to catch the problem and has stymied a congressional investigation into how it handled the case.

Richard…


L.A. Times – Business