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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,...

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  • 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...

  • Take a cue from Tom Brady. Resilience on the job can pay big rewards

    Take a cue from Tom Brady. Resilience on the job can pay big rewards

    More than 111 million people watched the biggest comeback in Super Bowl history when the New England Patriots scored 31 unanswered points to beat the Atlanta Falcons in overtime. It would have been easy for the Patriots to give up and begin thinking about some well-deserved time off. But what we...

  • Zuckerberg's goal: Remake a world Facebook helped create

    Zuckerberg's goal: Remake a world Facebook helped create

    Mark Zuckerberg helped create the modern world by connecting nearly a quarter of its citizens to Facebook and giving them a platform to share, well, everything — baby pictures and Pepe memes, social updates and abusive bullying, helpful how-to videos and live-streamed violence.  Now he wants to...

  • McLaren 570GT: Laughing all the way through the bank account

    McLaren 570GT: Laughing all the way through the bank account

    McLaren decided a while back that it wanted to increase sales by offering a more affordable sports car. It worked — at least for people who think a base price of $200,000 is affordable. The addition of the 570 “sports” series to its 670 “super” series and P1 "ultimate” series vehicles doubled McLaren...

  • Snap's IPO builds an 'impregnable fortress' where only the founders have power

    Snap's IPO builds an 'impregnable fortress' where only the founders have power

    The founders of Snap Inc. want to take the company public. But that doesn’t mean they want to run a public company. Public companies, after all, have to deal with shareholders who don’t like the way the company is being run. They have to ask shareholders whether they are paying executives too much....

  • Consumer Financial Protection Bureau chief scores reprieve in quest to keep job

    Consumer Financial Protection Bureau chief scores reprieve in quest to keep job

    Consumer Financial Protection Bureau chief Richard Cordray won a reprieve Thursday in his effort to keep his job and retain his agency’s independence. A federal appeals court said it would reconsider its earlier ruling that would have increased the president's authority over the consumer watchdog...

  • Snap's roadshow schedule: 7 cities in 2 weeks

    Snap's roadshow schedule: 7 cities in 2 weeks

    Snap Inc.'s IPO updates: See how much money existing shareholders could reap Feb. 16, 2017, 12:27 p.m. Snapchat app maker Snap Inc. filed papers Feb. 2 to move forward with what’s expected to be the biggest initial public offering ever for a Los Angeles company. Follow our coverage here. All updates...

  • Snap Inc.'s IPO updates: See how much money existing shareholders could reap

    Snap Inc.'s IPO updates: See how much money existing shareholders could reap

    Snap Inc.'s IPO updates: See how much money existing shareholders could reap Feb. 16, 2017, 12:27 p.m. Snapchat app maker Snap Inc. filed papers Feb. 2 to move forward with what’s expected to be the biggest initial public offering ever for a Los Angeles company. Follow our coverage here. All updates...

  • How much money Snap's existing shareholders could reap in the IPO

    How much money Snap's existing shareholders could reap in the IPO

    Snap Inc.'s IPO updates: See how much money existing shareholders could reap Feb. 16, 2017, 12:27 p.m. Snapchat app maker Snap Inc. filed papers Feb. 2 to move forward with what’s expected to be the biggest initial public offering ever for a Los Angeles company. Follow our coverage here. All updates...

  • L.A., meet EV: New partnership will enable Angelenos to borrow Bolt EV electric cars

    L.A., meet EV: New partnership will enable Angelenos to borrow Bolt EV electric cars

    General Motors’ Maven ride-sharing service has partnered with the city of Los Angeles to enable Angelenos and tourists to borrow Bolt EV electric cars to get around town.  The partnership, announced Thursday morning at a Union Station ceremony, will put 100 of GM’s Bolt EV all-electric sedans into...

  • Surf Air plans to offer commuter flights between Hawthorne and San Diego

    Surf Air plans to offer commuter flights between Hawthorne and San Diego

    All-you-can-fly membership airline Surf Air plans to begin offering commuter service between Hawthorne Municipal Airport and San Diego’s Montgomery-Gibbs Executive Airport. Although the Santa Monica-based airline is confident the expanded service will begin sometime in this year’s second quarter,...

  • Federal prosecutors are probing sexual harassment settlements paid out by Fox News

    Federal prosecutors are probing sexual harassment settlements paid out by Fox News

    The U.S. attorney’s office is exploring whether Fox News settlement payments for sexual harassment claims should have been reported to the shareholders of parent company 21st Century Fox. Fox News said in a statement issued Wednesday that it has been in discussions with the office “for months”...

  • CBS reports quarterly loss following pension settlement

    CBS reports quarterly loss following pension settlement

    CBS Corp. beat Wall Street expectations for its fourth quarter results as the big broadcaster begins to unwind its radio station business — a divestiture that will make the company less reliant on advertising revenue.  “We turned in another great quarter and another terrific year at the CBS Corp.,”...

  • Bond yields rise; stocks climb again to new records

    Bond yields rise; stocks climb again to new records

    Stocks and bond yields punched higher Wednesday, and U.S. indexes set records again, after more encouraging news on the nation’s economy. The Standard & Poor's 500 index rose 11.67 points, or 0.5%, to 2,349.25. It's the seventh straight gain for the index and its longest winning streak in 3½ years....

  • Former Snapchat COO Emily White earned big stock payoff in resignation

    Former Snapchat COO Emily White earned big stock payoff in resignation

    Snap Inc.'s IPO updates: See how much money existing shareholders could reap Feb. 16, 2017, 12:27 p.m. Snapchat app maker Snap Inc. filed papers Feb. 2 to move forward with what’s expected to be the biggest initial public offering ever for a Los Angeles company. Follow our coverage here. All updates...

  • Fed chair signals more interest rate hikes are coming

    Fed chair signals more interest rate hikes are coming

    Federal Reserve Chairwoman Janet L. Yellen, in her semiannual report to Congress, on Tuesday painted a largely bright picture of the economy and signaled that the central bank would consider raising interest rates next month. Most analysts are not looking for a Fed rate hike until June, and Yellen...

  • Rare Jaguar XKSS to be offered at Amelia Island

    Rare Jaguar XKSS to be offered at Amelia Island

    If you like British sports cars, and you are going to Amelia Island, Fla., for the upcoming car auctions, bring a big wallet. Santa Monica auction house Gooding & Co. will be offering an extremely rare 1957 Jaguar XKSS, one of only 16 known to exist, and the first one to appear at public auction...

  • Wine exports set record, led by California labels

    Wine exports set record, led by California labels

    U.S. exports of wine — the bulk of it from California — set a record in 2016 despite having to fight a strong dollar, subsidies and barriers in other countries and a tight water and labor supply at home, according to the Wine Institute. The $1.62 billion in foreign trade revenue for 2016 bested...

  • Toshiba chairman resigns after company suffers $6.3-billion loss in its nuclear business

    Toshiba chairman resigns after company suffers $6.3-billion loss in its nuclear business

    Japanese electronics and energy giant Toshiba Corp. says its chairman is resigning to take responsibility for problems that will result in a $6.3-billion loss in its nuclear business. Toshiba warned that all the estimates it announced Tuesday may change "by a wide margin," because of uncertainties....

  • What to do with holograms? 8i gets $27 million to explore the possibilities

    What to do with holograms? 8i gets $27 million to explore the possibilities

    8i Corp. has robust software. After 42 cameras collect images of a person on a stage, the Culver City start-up’s program renders a realistic 3-D replica of the individual on a computer. The question now is why would anyone want to pay for a hologram of themselves? 8i thought that people would like...

  • Marathon delays launch of $89,000 drug after lawmakers slam 'unconscionable' price hike

    Marathon delays launch of $89,000 drug after lawmakers slam 'unconscionable' price hike

    Politicians once again are concerned that a drug company that plans to sell an old medicine at a very high price is taking advantage of the system. On Monday, Sen. Bernie Sanders (I-Vt.) and Rep. Elijah Cummings (D-Md.) sent a letter to the chief executive of Marathon Pharmaceuticals, arguing that...

  • Elizabeth Warren zeroes in on Labor nominee Puzder, saying he has 'sneering contempt' for workers

    Elizabeth Warren zeroes in on Labor nominee Puzder, saying he has 'sneering contempt' for workers

    Sen. Elizabeth Warren (D-Mass.) sent Labor secretary nominee Andy Puzder a lengthy list of questions as top Senate Democrats trained their fire on the fast-food executive ahead of his confirmation hearing this week in hopes of knocking off the last of their top targets among President Trump’s Cabinet...

  • Anchor Josh Elliott is out at CBS News

    Anchor Josh Elliott is out at CBS News

    Josh Elliott is out at CBS News on Monday after less than a year in the anchor chair at its digital news channel, sources say. The circumstances of the dismissal are related to his handling of his expected move to a higher profile role at CBS News, according to two people familiar with the matter...

  • Stocks climb again to new all-time highs

    Stocks climb again to new all-time highs

    Stocks around the world continued their upward march Monday, and U.S. indexes again hit new highs. Strong gains for Citigroup and other financial stocks helped the Standard & Poor's 500 index rise 12.15 points, or 0.5%, to 2,328.25. It's the third straight day that the index has set a record. The...

  • Allergan is buying CoolSculpting provider Zeltiq for $2.48 billion

    Allergan is buying CoolSculpting provider Zeltiq for $2.48 billion

    Botox maker Allergan is spending about $2.48 billion to buy Zeltiq Aesthetics Inc. and its CoolSculpting system for reducing fat. Allergan said it will pay $56.50 for each share of Zeltiq in a deal it expects to close in the second half of this year. That represents a 14% premium to Zeltiq's Friday...

  • Paramount, Amazon productions qualify for California tax incentive

    Paramount, Amazon productions qualify for California tax incentive

    Movies from Paramount Pictures and Amazon Studios are among the 22 feature film projects that have qualified for $100 million in state-funded incentives that will shoot primarily in California. The unnamed Paramount project is expected to receive $22.4 million in tax credits, the largest award...

  • Senators try to speed up deployment of self-driving cars

    Senators try to speed up deployment of self-driving cars

    Two senators said Monday that they're launching a bipartisan effort to help to speed up the deployment of self-driving cars on the nation's roads. It’s the first major congressional attempt to address the advent of the vehicles. Sens. John Thune (R-S.D.), the chairman of the Senate Commerce, Science...

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