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Bank stocks lead a rebound on Wall Street

Stocks closed higher on Wall Street, led by big gains in bank stocks. Financial stocks bounced back Friday after a big drop a day earlier as worries eased over the outlook for Deutsche Bank, Germany's biggest lender. Deutsche Bank's U.S.-listed shares jumped 14%, and major U.S. banks also rose....

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  • Deutsche Bank shares tank as concern grows over its stability

    Deutsche Bank shares tank as concern grows over its stability

    Worries over the financial stability of Deutsche Bank returned to the fore Friday, sending shares in Germany's biggest bank to a record low and rekindling broader concerns about Europe's financial sector.  Reports that hedge funds are moving their business out of the bank were the catalyst to the...

  • Consumer spending stalls as incomes post slowest growth since winter

    Consumer spending stalls as incomes post slowest growth since winter

    Consumer spending barely grew in August after a sharp rise the previous month as incomes rose by the smallest amount since winter, the Commerce Department said Friday. Analysts had expected Americans to slow their pace of spending following strong 0.4% growth in July. But the growth of less than...

  • 2017 Cadillac CT6: A true American grand touring car

    2017 Cadillac CT6: A true American grand touring car

    Cadillac has nailed it. The 2017 CT6 3.0 TT Platinum, the General Motors subsidiary’s top-trim-level luxury grand touring sedan, is a sublime combination of power, performance and perks.  Especially perks. Despite the many pleasures of driving this car, the real action is in the back seat. This...

  • 'A very, very hot market': Downtown L.A. high-rise sells for $50 million as residential building booms

    'A very, very hot market': Downtown L.A. high-rise sells for $50 million as residential building booms

    A prominent Bunker Hill high-rise has changed hands for a premium price topping $50 million, signaling that downtown Los Angeles’ residential renaissance is boosting the area’s long-soft commercial office market.  A Los Angeles investment group purchased the 15-story Chase Plaza at 888 W. 6th St. from...

  • This $5,900 chair may be the tech world's new key to productivity

    This $5,900 chair may be the tech world's new key to productivity

    Che Voigt believes his company has solved problems that have plagued the working world since the advent of typing.  It’s a solution to hunched backs, stiff necks and tight shoulders. It’s a workstation that, with a push of a button, transitions from a standing desk to a seated table to a fully...

  • Realtors: California home prices and sales expected to rise next year

    Realtors: California home prices and sales expected to rise next year

    The California housing market is expected to grow increasingly unaffordable next year, driving would-be home buyers away from high-cost coastal regions and toward the more inexpensive inland stretches of the state, according to an industry forecast. The California Assn. of Realtors on Thursday...

  • With drug prices spiking, Americans want more government action, new poll finds

    With drug prices spiking, Americans want more government action, new poll finds

    More than three in four Americans believe that prescription drug prices are unreasonable, a new poll shows. And large majorities — including Democrats and Republicans — favor aggressive government steps to make pharmaceuticals more affordable for consumers, according to the survey by the nonprofit...

  • Biotech's L.A. presence grows, with trade groups fighting over turf

    Biotech's L.A. presence grows, with trade groups fighting over turf

    In a sign of growing interest in Los Angeles County as a major biomedical hub, the California Life Sciences Assn. has opened an office in Monrovia. It also this week announced partnerships with two organizations in the L.A. region — LA BioMed, a nonprofit research institute in Torrance, and the...

  • Energy stocks surge on oil deal hopes, sending market higher

    Energy stocks surge on oil deal hopes, sending market higher

    Energy companies powered to big gains Wednesday, leading the broader stock market higher, on reports that OPEC nations were moving closer to an agreement to cut oil production. Stocks switched between gains and losses for most of the day, and most industries did not move much. Energy companies...

  • OPEC nations reach preliminary accord to curb oil production

    OPEC nations reach preliminary accord to curb oil production

    OPEC nations reached a preliminary agreement Wednesday to curb oil production for the first time since the global financial crisis eight years ago, pushing up prices that had sunk over the past two years and weakened the economies of oil-producing nations. Mohammed Bin Saleh Al-Sada, Qatar's energy...

  • How Experian is turning big data into big dollars

    How Experian is turning big data into big dollars

     At Experian DataLabs in San Diego, a team of scientists is thwarting bad guys with math. A top-five U.S. credit card issuer recently dumped about 6 billion transaction records on Experian DataLabs to see if its machine-learning mathematical formulas could do a better job of rooting out credit...

  • Four stiff challenges Elon Musk will have to overcome to turn his Mars dream into reality

    Four stiff challenges Elon Musk will have to overcome to turn his Mars dream into reality

    SpaceX Chief Executive Elon Musk has finally laid out his plans to eventually transport up to a million people to colonize Mars. But there are more than a few hurdles he’ll have to clear first. In a speech Tuesday at the International Astronautical Congress in Guadalajara, Mexico, Musk presented...

  • Obama's former Supreme Court lawyer, Donald Verrilli, joins L.A. law firm

    Obama's former Supreme Court lawyer, Donald Verrilli, joins L.A. law firm

    Former U.S. Solicitor Gen. Donald B. Verrilli Jr., who successfully defended President Obama’s healthcare plan before the Supreme Court, is joining the Los Angeles law firm of Munger, Tolles & Olson. Verrilli, 59, will lead the firm’s new Washington office. “This firm has an extraordinary reputation,...

  • L.A. Times building sold to Canadian developer

    L.A. Times building sold to Canadian developer

    Chicago media company Tribune Media Co. has sold a trio of properties for a combined $430 million, including the Los Angeles Times building in downtown Los Angeles. The sale of Times Mirror Square to Onni Group paves the way for the redevelopment of a historic building the paper has called home...

  • SABMiller and AB InBev to combine: Beer makers' $103-billion deal clears final hurdle

    SABMiller and AB InBev to combine: Beer makers' $103-billion deal clears final hurdle

    A deal worth more than $100 billion to combine the world's two biggest beer companies cleared its last major hurdle Wednesday when the shareholders of SABMiller approved the takeover by Budweiser maker Anheuser-Busch InBev. SABMiller shareholders approved the $103-billion deal — dubbed Megabrew...

  • Silicon Valley's 'try before you buy' tech showroom is coming to Santa Monica

    Silicon Valley's 'try before you buy' tech showroom is coming to Santa Monica

    Being an early tech adopter meant Vibhu Norby always had the latest gadgets. Before hoverboards were all the rage, the Bay Area engineer had already ordered his own online and envisioned himself whizzing around town doing errands on two wheels. But as with so many things ordered online, when the...

  • Blackberry to stop making its own phones

    Blackberry to stop making its own phones

    Once-dominant smartphone maker Blackberry Ltd. said it will stop developing its phones in-house and shift that work to outside companies so it can focus on software manufacturing. In a regulatory filing Wednesday, the Canadian company said it plans to “end all internal hardware development” on...

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