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Cisco Systems buying BroadSoft for $1.9 billion cash

Cisco Systems Inc. will pay about $1.9 billion cash to buy BroadSoft Inc. in a move aimed at expanding its communications software offerings. The networking technology giant is paying $55 per share, marking a 2% premium to Broadsoft's closing price on Friday. Gaithersburg, Md.-based BroadSoft provides...

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  • Ryan says tax overhaul will include a bracket aimed at the wealthy

    Ryan says tax overhaul will include a bracket aimed at the wealthy

    House Speaker Paul D. Ryan said Friday that the Republican tax overhaul will include a fourth bracket for the wealthiest Americans to ensure that high earners don’t benefit more than the middle class. The bracket would be “designed to make sure we don’t have a big drop in income tax rates for high-income...

  • JetBlue to remove its fares from several online travel booking sites

    JetBlue to remove its fares from several online travel booking sites

    JetBlue Airways is removing its fares and schedules from 11 online travel booking sites, saying the move will cut costs and help keep fares low. The decision follows the lead of Southwest Airlines, which has long kept its booking information from some of the most popular online travel sites. Delta...

  • Stitch Fix, an online clothing styling service, files for IPO

    Stitch Fix, an online clothing styling service, files for IPO

    Stitch Fix Inc., an online clothing styling service, has filed to go public. The company is one of several that ships shoppers clothing to try on at home before they buy. With Stitch Fix, customers pay $20 to receive five clothing items. Customers can ship back whatever they don't like or they'll...

  • Senate Democrats fail in first attempt to save state and local tax deduction

    Senate Democrats fail in first attempt to save state and local tax deduction

    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...

  • U.S. unemployment claims fall to the lowest in 44 years

    U.S. unemployment claims fall to the lowest in 44 years

    The number of Americans collecting unemployment benefits fell last week to the lowest level since Richard Nixon was president. The Labor Department said Thursday that claims for jobless aid dropped by 22,000 to 222,000, the fewest since March 1973. The less volatile four-week average slid by 9,500...

  • Stocks’ last-minute rebound nudges S&P 500 and Dow to new highs

    Stocks’ last-minute rebound nudges S&P 500 and Dow to new highs

    A last-minute surge nudged U.S. stock indexes mostly higher Thursday, barely extending the market's winning streak and milestone-setting run. The Standard & Poor's 500 index and Dow Jones industrial average closed higher for the fifth straight day, each posting new highs. The other indexes finished...

  • Weinstein Co. employees: 'We did not know'

    Weinstein Co. employees: 'We did not know'

    A group of Weinstein Co. staffers responded to sexual harassment and assault allegations against their company’s disgraced co-founder Harvey Weinstein on Thursday, saying they did not know he was a “serial sexual predator.” The statement, signed by unnamed “select members of the Weinstein Company...

  • Workers' lawsuit accuses ritzy Terranea Resort of wage theft

    Workers' lawsuit accuses ritzy Terranea Resort of wage theft

    Workers at the Terranea Resort in Rancho Palos Verdes have sued 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, filed Thursday in Los Angeles County Superior Court, names...

  • FDA approval of lymphoma therapy shows Gilead's purchase of Kite was a good bet

    FDA approval of lymphoma therapy shows Gilead's purchase of Kite was a good bet

    Gilead Sciences Inc.’s stock rose Thursday after the biotech company’s Kite Pharma unit gained federal approval for its flagship cell-treatment therapy for adults with advanced lymphoma. The Food and Drug Administration’s approval Wednesday of Kite’s treatment represented a rapid payoff for Gilead....

  • Irvine wants to put Amazon's second headquarters in the Spectrum

    Irvine wants to put Amazon's second headquarters in the Spectrum

    Irvine has unveiled its proposal to win Amazon’s second headquarters, joining cities from across the country that are vying to lure the tech giant and tens of thousands of new jobs. With bids due Thursday, the city and its joint partner the Irvine Co. said they want to put Amazon in the Irvine...

  • Lyft gets $1-billion investment, led by Google's parent company

    In the topsy-turvy world of tech, an investor can fund a company one minute and sue it the next. It also can turn around and fund a competitor, which is what Google’s parent company did when it announced Thursday that its growth equity fund led a $1-billion investment in Lyft, four years after...

  • Tribune Media shareholders vote in favor of merger with Sinclair Broadcast Group

    Tribune Media shareholders vote in favor of merger with Sinclair Broadcast Group

    Sinclair Broadcast Group is a step closer to taking over Tribune Media after shareholders of the Chicago-based media company voted overwhelmingly to approve the proposed $3.9-billion acquisition. Tribune Media said more than 99% of the votes cast by shareholders at a special meeting Thursday at...

  • Trump meets with Janet Yellen as decision on next Fed chair nears

    Trump meets with Janet Yellen as decision on next Fed chair nears

    President Trump met at the White House on Thursday with Federal Reserve Chairwoman Janet L. Yellen as he neared a decision on who will lead the central bank after her first four-year term ends in February. Yellen, 71, a Democrat nominated to the job by former President Obama, is one of five candidates...

  • Vernon battery maker's portable charger can quick-charge a smartphone 10 times

    Vernon battery maker's portable charger can quick-charge a smartphone 10 times

    Electric vehicles are the main market for Romeo Power Technology, the Vernon-based lithium-ion battery pack startup. But the company is also using its know-how to make portable battery packs for individuals. On Thursday it introduced the Saber, a ruggedized 2.2-pound bar-shaped device the company...

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

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

    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...

  • Jack Gao leaves Wanda and Legendary Entertainment

    Jack Gao leaves Wanda and Legendary Entertainment

    Dalian Wanda Group executive Jack Gao, who had been leading the Chinese conglomerate’s film subsidiary Legendary Entertainment, has stepped down from his job, according to a person briefed on the matter. Gao was senior vice president of Wanda’s cultural industry group, where he served a key role...

  • American Flat Track motorcycle racing closes season with strong numbers

    American Flat Track motorcycle racing closes season with strong numbers

    The season is over. The numbers are in. Flat track is back and it’s big again. The American Flat Track race schedule for 2017 ended Oct. 7 at Southern California’s Perris Auto Speedway. At the conclusion of the 18-race series, the top three positions in the main class were held by Jared Mees, Bryan...

  • Airbus notches win over rival Boeing with Bombardier deal

    Airbus notches win over rival Boeing with Bombardier deal

    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...

  • Power plant developer pulls the plug on its natural gas project in Oxnard

    Power plant developer pulls the plug on its natural gas project in Oxnard

    The developer of a proposed natural gas power plant in Ventura County asked state regulators Monday to suspend review of the plans, effectively ending the controversial project. In response to regulators’ recommendation this month to reject the project, NRG Energy asked the California Energy Commission...

  • State Treasurer John Chiang extends sanctions on Wells Fargo for another year

    State Treasurer John Chiang extends sanctions on Wells Fargo for another year

    The state of California will continue its financial sanctions against Wells Fargo for a second year following a string of new disclosures about bad practices at the bank since its sham accounts scandal unfolded. State Treasurer and gubernatorial candidate John Chiang said Monday that revelations...

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  • Make holiday shopping for your clients easy this year

    Make holiday shopping for your clients easy this year

    The holidays are known as the most wonderful time of the year, but they're also a great opportunity for reflection, particularly in a business setting. This is the time of year when you can look back on the last 12 months and appreciate everyone who helped make the year a success for your business....

  • Think outside the bank: How to get a business loan online

    Think outside the bank: How to get a business loan online

    In business, dreams are easy. Finding the money to make them happen, however, can be difficult. Even established, successful businesses can get turned away for loans at banks. This was the case for Sole Bicycles, a popular maker of stylish and high-performance bikes based in Venice Beach, California....

  • 5 big changes for today's small businesses

    5 big changes for today's small businesses

    A generation ago, the notion of a small business owner meant something very different. You pictured a person who owned their own storefront, often named after themselves, and every day they were the first to arrive and the last to leave. They worked tirelessly for their customers, and their reward...

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