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  • Unpaid internships are back, with the Labor Department's blessing

    Unpaid internships are back, with the Labor Department's blessing

    The U.S. Labor Department rolled out new guidelines this month that make it easier for companies that want to hire interns but don’t want to pay them. The new rules establish a “primary beneficiary test” that ratifies programs that help the intern more than the company. Seven factors determine...

  • To please users and halt fake news, Facebook makes it harder for real news outlets

    To please users and halt fake news, Facebook makes it harder for real news outlets

    With more than 2 billion users, Facebook for years gave media outlets a shot at a vast audience that could help offset declining circulations. But after a year in which the spread of fake news, Russian interference and divisive politics sullied Facebook’s reputation and user experience, efforts...

  • Wells Fargo reports big tax savings — and big costs for investigations, lawsuits

    Wells Fargo reports big tax savings — and big costs for investigations, lawsuits

    The GOP tax overhaul saved Wells Fargo & Co. more than $3 billion in the fourth quarter, but the bank also set aside more than $3 billion to cover costs related to ongoing problems with its consumer businesses, the company reported Friday. In its earnings release for the fourth quarter and full...

  • Jeff Bezos gives 'Dreamers' $33 million to pay for college

    Jeff Bezos gives 'Dreamers' $33 million to pay for college

    ​​​​Amazon founder Jeff Bezos and his wife, MacKenzie Bezos, donated $33 million to fund 1,000 scholarships for Dreamers, immigrants who were brought to the United States illegally as children. The money will go to TheDream.US, the largest scholarship program for Dreamers. Each student receives...

  • Stocks keep jumping, led by retailers

    Stocks keep jumping, led by retailers

    Rising retailers pushed U.S. stock indexes further into record territory Friday, as the market's fabulous start to 2018 carried through its second week. Interest rates also climbed after a report showed that a key component of inflation accelerated last month. But stocks absorbed the gains without...

  • Dropbox has filed for IPO confidentially, sources say

    Dropbox has filed for IPO confidentially, sources say

    Dropbox Inc., the file-sharing private company valued at $10 billion, has filed confidentially for a U.S. initial public offering, people familiar with the matter said. Goldman Sachs Group Inc. and JPMorgan Chase & Co. will lead the potential listing, according to the people, who asked not to be...

  • Bitcoin prices drop as South Korea considers banning cryptocurrency exchanges

    Bitcoin prices drop as South Korea considers banning cryptocurrency exchanges

    Bitcoin slumped to its lowest level since Christmas Day as South Korea’s justice minister reiterated his proposal to ban local cryptocurrency exchanges, fueling concern that a crackdown will erode demand for digital coins in one of the world’s biggest markets. The minister’s comments to reporters...

  • Downtown L.A.'s development boom heads west with a big new housing and retail complex

    Downtown L.A.'s development boom heads west with a big new housing and retail complex

    A large-scale residential and hotel complex will be proposed for the former headquarters campus of the Metropolitan Water District on Sunset Boulevard as Los Angeles’ development boom expands into blocks just northwest of downtown. The $600-million project, called 1111 Sunset, would include high-rise...

  • Judge denies injunction to remove Mick Mulvaney as consumer bureau's acting director

    Judge denies injunction to remove Mick Mulvaney as consumer bureau's acting director

    A federal judge on Wednesday denied a request for a preliminary injunction to remove Mick Mulvaney as acting director of the Consumer Financial Protection Bureau. The judge sided with Mulvaney — President Trump’s budget director and choice for the interim position — over Leandra English, the agency’s...

  • China might make it harder for U.S. to pay for Trump's tax cuts

    China might make it harder for U.S. to pay for Trump's tax cuts

    China could make it harder for U.S. Treasury Secretary Steven Mnuchin to finance budget deficits brought on by President Trump’s tax cuts. Chinese officials reviewing the nation’s foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries. Although it’s not clear...

  • Lawmakers look into SpaceX launch that ended with lost satellite

    Lawmakers look into SpaceX launch that ended with lost satellite

    Lawmakers said they will receive classified briefings on a secret U.S. government satellite that apparently crashed into the sea after it was launched by Elon Musk’s SpaceX. “The first statement by SpaceX was that the failure to achieve orbit was not theirs,” so there’s no reason so far to question...

  • Best job in the U.S. this year is software developer, report finds

    Best job in the U.S. this year is software developer, report finds

    For several years over the last decade, a day spent examining and fixing teeth was considered to be the “best job” in the United States, according to U.S. News & World Report’s annual survey. This year, a job that requires tech savvy and scientific know-how tops the list. The best job in 2018 is...

  • Who's picking your food? A record number of foreign laborers

    Who's picking your food? A record number of foreign laborers

    Recruiters in California’s wine country have been known to drive two hours to Stockton to find farmworkers. Vineyard manager Chris Bowland went nearly 2,000 miles farther last year — to small villages in the Mexican state of Michoacan, where he recruited a dozen agricultural guest workers under...

  • Delta and American Airlines return to using catering company at LAX after listeria discovery

    Delta and American Airlines return to using catering company at LAX after listeria discovery

    Two of the world’s biggest airlines have resumed using a catering company that had been found to have listeria at its food preparation facility at Los Angeles International Airport. About two months after cutting off some food service provided by Gate Gourmet at LAX, Delta Air Lines and American...

  • Fisker at CES: A $130,000 electric sedan and a radical new battery technology

    Fisker at CES: A $130,000 electric sedan and a radical new battery technology

    Henrik Fisker, the Los Angeles car designer and automobile entrepreneur, is best known for his long, flowing, smoothly muscular creations, from the BMW Z8 to the Aston-Martin V8 Vantage to the Fisker Karma. His own companies have achieved less success than he’d like. His previous electric-car company,...

  • Secret spy satellite may be lost after SpaceX launch

    Secret spy satellite may be lost after SpaceX launch

    A highly classified spy satellite appears to have been lost after its launch from Cape Canaveral Air Force Station in Florida aboard a SpaceX rocket Sunday, the Wall Street Journal reported. Asked to comment, Hawthorne-based SpaceX issued a statement Monday afternoon: “We do not comment on missions...

  • Chinese gaming company buys remaining stake of Grindr

    Chinese gaming company buys remaining stake of Grindr

    After purchasing a majority stake in Grindr last year, ​​​​​​a Chinese gaming company has acquired the rest of the dating app for gay men from its founder Joel Simkhai, the West Hollywood company announced Friday. Kunlun Group Limited said in May that it planned to purchase the remaining stake...

  • Stocks continue their strong start to 2018

    Stocks continue their strong start to 2018

    The stock market's perfect start to the year rolled on, and the Standard & Poor's 500 index shook off a bit of weakness Monday to advance further into record territory. Stocks slipped in early trading, and the S&P 500 appeared to be on pace for its first down day of the year. But accelerating gains...

  • Celgene to buy San Diego cancer-drug maker for as much as $7 billion

    Celgene to buy San Diego cancer-drug maker for as much as $7 billion

    Celgene Corp. agreed to buy San Diego firm Impact Biomedicines for $1.1 billion upfront to gain an experimental blood cancer treatment. The price could reach as much as $7 billion over time if the drug reaches certain milestones. Under the agreement, Celgene will add as much as $1.25 billion to...

  • Three port truck companies exploited drivers, L.A. city attorney says in lawsuits

    Three port truck companies exploited drivers, L.A. city attorney says in lawsuits

    Los Angeles City Atty. Mike Feuer sued three port trucking companies Monday, alleging the firms exploit their drivers by misclassifying them as independent contractors, an arrangement that can result in take-home pay of only pennies. In lawsuits filed in Los Angeles County Superior Court, Feuer...

  • Smart doorbell start-up Skybell claims rival Ring stole its technology

    Smart doorbell start-up Skybell claims rival Ring stole its technology

    Skybell Technologies, an Irvine smart doorbell startup, has filed a lawsuit claiming its Santa Monica competitor, Ring, copied its technology and is profiting from advertising and marketing techniques rather than innovative software and hardware. The lawsuit states that Ring knowingly used technology...

  • Apple should study how iPhone use might hurt kids, two big investors say

    Apple should study how iPhone use might hurt kids, two big investors say

    Two big shareholders of Apple Inc. are concerned that the entrancing qualities of the iPhone have fostered a public health crisis that could hurt children — and the company as well. In a letter to the smartphone maker dated Jan. 6, activist investor Jana Partners LLC and the California State Teachers’...

  • California Inc.: L.A. aiming for 50 million tourists visiting annually

    California Inc.: L.A. aiming for 50 million tourists visiting annually

    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. Investors are still digesting the Dow closing above 25,000 for the first time ever. Is...

  • Retail workers' jobs are transforming as shoppers' habits change

    Retail workers' jobs are transforming as shoppers' habits change

    With new options and conveniences, there's never been a better time for shoppers. As for workers — well, not always. The retail industry is being radically reshaped by technology, and nobody feels that disruption more starkly than 16 million American shelf stockers, salespeople, cashiers and other...

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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....

  • Small businesses have struggled to find funding: Not anymore

    Small businesses have struggled to find funding: Not anymore

    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, 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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