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Mnuchin says Trump tax overhaul could happen by August

The Trump administration wants to overhaul the tax code by August, Treasury Secretary Steven Mnuchin said Thursday, laying out an aggressive timetable in his first significant public comments since taking office last week.  In a series of interviews, Mnuchin also said that the rally in the stock...

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    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...

  • 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...

  • 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"...

  • 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...

  • Hong Kong Disneyland reports a 2016 loss as visitor slump worsens

    Hong Kong Disneyland reports a 2016 loss as visitor slump worsens

    Two weeks after Walt Disney Co. launched a bailout of struggling Euro Disney, another international Disney resort revealed that its financial woes grew last year. Hong Kong Disneyland reported a second consecutive annual loss on an 11% drop in attendance and a 7% decline in revenue. The $22-million...

  • '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...

  • 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...

  • 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....

  • 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...

  • 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...

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