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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...

  • 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...

  • Ghosn steps aside as Nissan CEO to focus on 3-automaker alliance

    Ghosn steps aside as Nissan CEO to focus on 3-automaker alliance

    Carlos Ghosn, who leads the Nissan-Renault-Mitsubishi alliance, is handing over the helm at Nissan Motor Co. to Hiroto Saikawa, a veteran Japanese executive at Nissan, but Ghosn is staying on as the automaker’s chairman. Saikawa will become chief executive at Nissan — based in Yokohama, Japan —...

  • Qualcomm, Microsoft and Airbus invest in Santa Monica drone software start-up AirMap

    Qualcomm, Microsoft and Airbus invest in Santa Monica drone software start-up AirMap

    The venture capital arms of Qualcomm Inc., Microsoft Corp. and Airbus have led a $26-million investment in AirMap, the builder of drone air traffic management software announced Thursday. The Santa Monica start-up, which opened its first office in 2015, builds technology that tracks air traffic,...

  • Beauty companies hustle to keep up with faster trends

    Beauty companies hustle to keep up with faster trends

    When reality TV star Kylie Jenner introduced her first cosmetics products to the Internet in late 2015, the Kylie Lip Kits — matte liquid lipstick and lip liner combos — sold out in minutes. Competing brands were paying attention. Companies quickly started promoting their own matte lipsticks as...

  • SpaceX Dragon brings supplies (and a birthday treat) to the International Space Station

    SpaceX Dragon brings supplies (and a birthday treat) to the International Space Station

    SpaceX’s Dragon capsule successfully attached to the International Space Station early Thursday, a day after aborting its first attempt. NASA confirmed on its TV service that the capsule, carrying nearly 5,500 pounds of supplies and research materials — as well as a birthday treat for French astronaut...

  • Tesla reports fourth-quarter and full-year results, says Model 3 on track

    Tesla reports fourth-quarter and full-year results, says Model 3 on track

    In a closely watched earnings report Wednesday, Tesla Inc. reported fourth-quarter and full-year results and assured investors that it is on schedule to produce its long-awaited mid-market Model 3 electric car.  For the three months ended Dec. 31, the company lost $219.4 million, or 78 cents a...

  • Brad Grey leaves struggling Paramount Pictures as search for new studio chief begins

    Brad Grey leaves struggling Paramount Pictures as search for new studio chief begins

    Paramount Pictures Chairman Brad Grey has finalized his exit from Viacom Inc. after 12 years managing the legendary movie studio that has struggled to produce box-office hits. Grey’s departure, which was telegraphed last week and announced Wednesday, takes effect immediately. It comes as Viacom’s...

  • 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....

  • 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...

  • 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...

  • 'xXx' and 'La La Land' sweep China's box office

    'xXx' and 'La La Land' sweep China's box office

    Hollywood movies lit up China’s box office last week with Paramount’s “xXx: Return of Xander Cage” leading the way, followed by the award-winning musical “La La Land.” The action thriller, starring Vin Diesel and Chinese kung fu star Donnie Yen, topped the box-office charts for the second week...

  • Uber hires Eric Holder to investigate sexual harassment claims

    Uber hires Eric Holder to investigate sexual harassment claims

    Uber has hired former U.S. Atty. Gen. Eric H. Holder Jr. to help lead an investigation into claims of sexual harassment and discrimination that a former female employee made public over the weekend in a highly circulated blog post. Chief Executive Travis Kalanick told employees in a memo Monday...

  • Sprawling former Toyota headquarters campus in Torrance is up for sale

    Sprawling former Toyota headquarters campus in Torrance is up for sale

    Looking for an office complex with its own helipads, swimming pool, data center and emergency power? One just hit the market in Torrance: the longtime North American headquarters of Japanese car manufacturer Toyota, which is consolidating its U.S. operations in Texas. Toyota announced its plans...

  • Burger King's parent is buying the Popeyes chicken chain for $1.8 billion

    Burger King's parent is buying the Popeyes chicken chain for $1.8 billion

    Restaurant Brands International Inc. said it's buying Popeyes Louisiana Kitchen Inc. for $1.8 billion, bringing the fried chicken chain under the same corporate umbrella as Burger King and Tim Hortons. The move fits with Restaurant Brands' approach of taking over well-known fast-food chains it...

  • Two new venture capital funds in L.A.: One for gaming. One for business software

    Two new venture capital funds in L.A.: One for gaming. One for business software

    Investing in start-ups trying to make video games has fallen out of favor in much of the venture capital community. They’re difficult-to-predict businesses, driven more by characters and animation than by novel technology and often have limited potential buyers if they don’t work out as well as...

  • Tesla earnings preview: Analysts want details on Model 3 and Gigafactory

    Tesla earnings preview: Analysts want details on Model 3 and Gigafactory

    Tesla bull or Tesla bear, it doesn’t matter.  When the company reports earnings Wednesday, hard-core investors and analysts of all persuasions are likely to shrug off the specific results. “The numbers mean nothing right now,” said Trip Chowdry, managing director at Global Equities Research and...

  • Unilever shares slide after Kraft Heinz withdraws its $143-billion bid

    Unilever shares slide after Kraft Heinz withdraws its $143-billion bid

    Shares in Unilever, the owner of brands like Hellman's, Lipton, and Knorr, fell sharply in overseas trading after rival Kraft Heinz withdrew a $143-billion takeover offer. The companies said Sunday in a joint press release that Kraft Heinz has “amicably” abandoned the offer. Shares in Unilever...

  • Big changes planned for the sell-by dates on food packaging

    Big changes planned for the sell-by dates on food packaging

    The majority of Americans have no clear idea what "sell by" labels are trying to tell them. But after 40 years of letting us guess, the grocery industry has made moves to clear up the confusion. The Food Marketing Institute and the Grocery Manufacturers Assn., the two largest trade groups for the...

  • A Palm Desert retreat right out of the Sultan of Swoon's handbook

    A Palm Desert retreat right out of the Sultan of Swoon's handbook

    Singer Frank Sinatra’s Villa Maggio getaway takes in panoramic views from its perch above the Coachella Valley. The Palm Desert retreat includes three houses, a swimming pool, a tennis court and a helipad for quick trips to or from Hollywood. The 7.5-acre site has room to park 24 vehicles — that...

  • California Inc.: Hollywood is getting ready for its close-up

    California Inc.: Hollywood is getting ready for its close-up

    Welcome to California Inc., the weekly newsletter of the L.A. Times Business Section. I’m Business columnist David Lazarus, and here’s a rundown of upcoming stories this week and the highlights of last week. Tax day — that would be April 18 — is fast approaching. President Trump has yet to reveal...

  • Snapchat Spectacles are now sold online as vending machines take a break

    Snapchat Spectacles are now sold online as vending machines take a break

    If you didn’t race out to Venice to get them, or stand in an endless line in Santa Monica, or catch a helicopter ride to the middle of the Grand Canyon, or speed down Pacific Coast Highway or brave the Manhattan cold, or pay a premium on EBay, well, you finally can just go online to buy Spectacles....

  • Kraft Heinz drops $143-billion offer for Unilever

    Kraft Heinz drops $143-billion offer for Unilever

    Kraft Heinz has decided to withdraw its $143-billion offer to buy Unilever, the companies announced Sunday in a joint news release. Unilever — which has a head office in London and makes mayonnaise, tea and seasonings — earlier had spurned the offer, saying the price was too low. Despite rejection,...

  • SpaceX launches supplies to space station; 'Baby came back,' Elon Musk says of booster's return

    SpaceX launches supplies to space station; 'Baby came back,' Elon Musk says of booster's return

    SpaceX launched almost 5,500 pounds of supplies to the International Space Station on Sunday morning after scrubbing its Saturday attempt because of a potential issue with its Falcon 9 rocket. The rocket lifted off at 6:39 a.m. PST from Kennedy Space Center in Florida. It was the Hawthorne-based...

  • Does a landlord need to give a reason for evicting a tenant?

    Does a landlord need to give a reason for evicting a tenant?

    Question: I’ve been living in a great apartment close to work for three years. My lease ended after a year, and I am now going month to month. I love the location, felt safe and planned to live here a long time. Last week, my landlord served me with a “60 Day Notice to Quit.” I don’t know what...

  • How to make sure your financial planner is looking out for you

    How to make sure your financial planner is looking out for you

    Dear Liz: As a recent retiree, I opened an IRA with a well-reputed, independent financial planner. I was assured of our fiduciary relationship and told “besides, it will soon be law” that advisors will have to put their clients’ interests first when offering advice about retirement funds. I guess...

  • He's looking for the secret recipe to educate business leaders

    He's looking for the secret recipe to educate business leaders

    The gig: Deryck van Rensburg is the new dean of Pepperdine University’s Graziadio School of Business and Management in Malibu. He took over in November after spending 32 years in international business with consumer-products giant Unilever and then Coca-Cola Co. His task: To reinvigorate the business...

  • SpaceX scrubs launch, will try again Sunday morning

    SpaceX scrubs launch, will try again Sunday morning

    SpaceX scrubbed its launch of a space station supply mission seconds before liftoff Saturday morning, citing a possible problem with the second stage of its Falcon 9 rocket. The Hawthorne space company said it would try to launch again Sunday at 6:38 a.m. Pacific time from Launch Complex 39A at...

  • In-flight calls? The American people are overwhelmingly opposed

    In-flight calls? The American people are overwhelmingly opposed

    If you think that allowing mobile phone calls on commercial flights is a bad idea, you are not alone. That is the main conclusion that comes from reading the more than 7,000 comments made by Americans in response to a proposal by the U.S. Department of Transportation to keep in place a ban on in-flight phone...

  • What should airline passengers do if a pilot acts bizarrely?

    What should airline passengers do if a pilot acts bizarrely?

    When a pilot on a United Airlines flight from Austin to San Francisco launched into a bizarre rant last week over the plane intercom, the 120 passengers in the cabin were put in the awkward position of looking after their own safety. The pilot, who rambled on about Donald Trump, Hillary Clinton...

  • Delta Air Lines is bringing back free meals on some domestic flights

    Delta Air Lines is bringing back free meals on some domestic flights

    Apparently there is such a thing as a free lunch — at Delta Air Lines. The Atlanta-based carrier announced that it will offer free meals for all passengers on several long-haul domestic flights — a service that many airlines eliminated about a decade ago in the face of tight budgets and fierce...

  • Unilever rejected Kraft's bid, but Kraft is still trying to buy it

    Unilever rejected Kraft's bid, but Kraft is still trying to buy it

    Kraft Heinz Co. is trying to buy Unilever in a $143-billion deal that would join the U.S. maker of cheeses and lunch meats with the European producer of mayonnaise, teas and seasonings, creating a global powerhouse. Unilever rejected the approach and called the price too low, but Kraft Heinz says...

  • Stocks inch to new records; S&P 500 posts fourth straight weekly gain

    Stocks inch to new records; S&P 500 posts fourth straight weekly gain

    Stock indexes inched up to record highs Friday, barely, after a late-afternoon push erased losses from earlier in the day. That capped the fourth straight week of gains for the Standard & Poor's 500 index, its longest such streak since July. Reports this week showed that the nation’s economy is...

  • Fox apologizes for use of fake news sites in 'A Cure for Wellness' ad campaign

    Fox apologizes for use of fake news sites in 'A Cure for Wellness' ad campaign

    In a rare mea culpa from a major Hollywood studio, 20th Century Fox is apologizing for an unconventional online ad campaign that it recently launched for “A Cure for Wellness,” a psychological horror movie from New Regency that opened Friday. The digital campaign included several fake news sites...

  • Kaiser nurses reach tentative labor agreement with Los Angeles Medical Center

    Kaiser nurses reach tentative labor agreement with Los Angeles Medical Center

    Nurses at the Los Angeles Medical Center are set to get a pay raise, overtime protections and more professional support under the terms of a tentative collective bargaining agreement struck Thursday. In reaching the agreement, the California Nurses Assn., the union representing 1,200 registered...

  • DineEquity CEO to resign as restaurant firm's earnings decline

    DineEquity CEO to resign as restaurant firm's earnings decline

    DineEquity Inc. said Friday that Julia Stewart plans to resign as chairman and chief executive of the Glendale-based parent of the Applebee’s and IHOP restaurant chains, effective March 1. The company gave no reason for Stewart’s departure, but it comes as DineEquity reported declines in preliminary...

  • Additional delays likely for SpaceX and Boeing astronaut capsules, report says

    Additional delays likely for SpaceX and Boeing astronaut capsules, report says

    NASA should make alternative plans to ensure access to the International Space Station beyond 2018 because of further delays that are likely for SpaceX and Boeing Co. in certifying their astronaut transport capsules, according to a government watchdog report released Thursday.  The two companies...

  • South Korean court declares Hanjin bankrupt

    South Korean court declares Hanjin bankrupt

    A South Korean court has declared Hanjin Shipping Co. bankrupt, about six months after the struggling shipper first filed for bankruptcy. The Seoul Central District Court said Friday it had appointed a bankruptcy administrator and that claims by creditors are due May 1, according to Reuters. The...

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