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  • J.C. Penney to close 130 to 140 stores and offer early retirement to 6,000 workers

    J.C. Penney to close 130 to 140 stores and offer early retirement to 6,000 workers

    J.C. Penney said Friday it will be closing 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of online shopping. The closures represent 13% to 14% of the department store operator's current store count, and less than...

  • The red carpet isn’t actually red, and other secrets underfoot at the Oscars

    The red carpet isn’t actually red, and other secrets underfoot at the Oscars

    In Aeschylus’ play “Agamemnon,” the titular king’s homecoming from the Trojan War is marked by his vengeful wife Clytemnestra, who offers him a red carpet on which to walk. “Now my beloved, step down from your chariot, and let not your foot, my lord, touch the Earth,” she says. But Agamemnon is...

  • Google spinoff Waymo accuses Uber of self-driving car theft

    Google spinoff Waymo accuses Uber of self-driving car theft

    Waymo, a self-driving car company founded by Google, is colliding with ride-hailing service Uber in a court battle revolving around allegations of betrayal, high-tech espionage and greed. The brewing showdown emerged late Thursday in a lawsuit filed in a San Francisco federal court by Waymo, a...

  • Big new convention center hotel proposed for downtown L.A.

    Big new convention center hotel proposed for downtown L.A.

    A towering 1,024-room hotel will rise next to the Los Angeles Convention Center a few years from now if developer TriCal Construction Inc. gets its way. TriCal filed a development application with city officials Thursday to build a 53-story skyscraper across Figueroa Street from the convention...

  • Stocks end mixed as investors seek safety

    Stocks end mixed as investors seek safety

    Stocks wobbled Thursday as investors changed course and tempered their expectations for faster economic growth. Industrial companies, which have surged over the last few months, finished lower as Wall Street focused on gold, bonds and companies that pay big dividends. Construction equipment, transportation...

  • Stocks mostly slip, but Dow hits a new record high

    Stocks mostly slip, but Dow hits a new record high

    U.S. stocks mostly slipped Wednesday after their recent record-setting run. Energy companies stumbled, but basic materials makers rose as investors hoped two large deals would win approval from regulators. While energy stocks fell with the price of oil, most other sectors didn't make big moves....

  • Aerojet Rocketdyne buys missile-target maker and may provide satellite launches

    Aerojet Rocketdyne buys missile-target maker and may provide satellite launches

    In a deal that could have implications for the satellite launch business, rocket engine manufacturer Aerojet Rocketdyne has acquired leading missile-target developer Coleman Aerospace for $15 million in cash. The deal, which is expected to close Friday, will allow Aerojet Rocketdyne — a unit of...

  • AwesomenessTV CEO and founder Brian Robbins leaves video company

    AwesomenessTV CEO and founder Brian Robbins leaves video company

    Brian Robbins, the co-founder and chief executive of teen-focused online video network AwesomenessTV, is leaving the company after five years, he told staff Wednesday.  Robbins did not cite a reason for his exit, but his departure comes six months after parent company DreamWorks Animation was acquired...

  • Two-thirds of Americans aren't using this easy way to save for retirement

    Two-thirds of Americans aren't using this easy way to save for retirement

    Less than one-third of Americans are saving money in their 401(k)s and other workplace retirement accounts, according to an analysis of tax records by Census Bureau researchers. Although nearly 80% of Americans work for an employer that offers a retirement program — whether a 401(k), 403(b) or...

  • Fed officials indicate another interest rate hike could come 'fairly soon'

    Fed officials indicate another interest rate hike could come 'fairly soon'

    Federal Reserve policymakers said at their latest meeting that another small hike in a key interest rate could come "fairly soon," opening the door a bit wider to an increase next month, according to minutes of the meeting released Wednesday. Fed officials reiterated their "considerable uncertainty"...

  • Americans buy existing homes at fastest pace in a decade

    Americans buy existing homes at fastest pace in a decade

    Americans shrugged off rising mortgage rates and bought existing homes in January at the fastest pace since 2007. That has set off bidding wars that have pushed up prices as the supply of available homes has dwindled to record lows. Home sales rose 3.3% in January from December to a seasonally...

  • SpaceX Dragon capsule aborts attempt to dock at International Space Station

    SpaceX Dragon capsule aborts attempt to dock at International Space Station

    A SpaceX capsule carrying more than 5,000 pounds of cargo aborted its attempt to dock at the International Space Station early Wednesday because of an “easily correctable” GPS error, officials said. It is scheduled to try again Thursday. This was not the mission’s first small delay. Hawthorne-based...

  • Lexus and Porsche tie in J.D. Power reliability study

    Lexus and Porsche tie in J.D. Power reliability study

    Lexus and Porsche tied for the top spot in auto information company J.D. Power’s annual vehicle reliability study. But other Japanese, German, South Korean and American brands also scored extremely well. The study targeted 35,000 owners of model year 2014 vehicles who have driven their vehicles...

  • China's clampdown on foreign investments raises questions for Hollywood as Wanda's Dick Clark deal stalls

    China's clampdown on foreign investments raises questions for Hollywood as Wanda's Dick Clark deal stalls

    The Chinese government’s recent clampdown on money leaving the country has broad repercussions for industries like mining and real estate. Now the crackdown may have reached Hollywood’s doorstep. Dalian Wanda Group’s agreement to buy Dick Clark Productions, producer of the Golden Globe Awards, for...

  • Wells Fargo fires former L.A. regional president, 3 other managers after scandal

    Wells Fargo fires former L.A. regional president, 3 other managers after scandal

    Wells Fargo & Co. said Tuesday that it has fired four senior managers in the aftermath of the scandal over unauthorized accounts opened without customers’ knowledge or consent. The executives were the first terminations disclosed by the banking giant since the high-profile resignation of former...

  • Yahoo salvages Verizon deal by giving it a $350-million discount 

    Yahoo salvages Verizon deal by giving it a $350-million discount 

    Yahoo Inc. is taking a $350-million hit on its previously announced $4.8-billion sale to Verizon Communications Inc. in a concession for security lapses that exposed personal information stored in more than 1 billion Yahoo user accounts. The revised agreement announced Tuesday eases investor worries...

  • Universal Studios Hollywood raises gate ticket prices

    Universal Studios Hollywood raises gate ticket prices

    About a week after Disneyland raised its ticket prices, Universal Studios Hollywood hiked attendance prices an extra $5 per visitor. The daily ticket price at the gate rose to $120 from $115, on top of increases adopted last year of up to 20%. Universal Orlando also raised prices over the weekend...

  • Wal-Mart's online sales jump 29% as it works to make inroads against Amazon

    Wal-Mart's online sales jump 29% as it works to make inroads against Amazon

    The nation's largest retailer keeps working to make headway against the largest online seller. Wal-Mart Stores Inc. drew more shoppers to its namesake stores in the United States and its online sales soared 29% in its fiscal fourth quarter, which covers the crucial holiday shopping season. That's...

  • Stocks hit new records as an appetite for deals sends food companies up

    Stocks hit new records as an appetite for deals sends food companies up

    Stocks again broke records Tuesday as investors came back from a long weekend hungry for deals. Although Kraft Heinz and Unilever couldn't agree to a proposed $143-billion mega-merger, food and household goods makers rose as investors bet that other deals are coming. Companies that make packaged...

  • Head of U.S. Honda to leave air bags behind, turn to gin and vodka

    Head of U.S. Honda to leave air bags behind, turn to gin and vodka

    The U.S. head of Honda is retiring to make gin and vodka with his sons. John Mendel, 62, executive vice president for the Japanese carmaker at American Honda Motor Co. in Torrance, told a group of dealers Monday night that he’s retiring. He goes out on a high note: Honda sales in the U.S. last...

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