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  • Wells Fargo could take back more than $50 million from embattled CEO

    Wells Fargo could take back more than $50 million from embattled CEO

    Outraged senators castigated Wells Fargo & Co. Chief Executive John Stumpf this week for not seeking to take back some of the $100 million awarded to a retiring executive who oversaw the division at the heart of the company’s fake-accounts scandal. But whenever Stumpf, 63, eventually departs from...

  • Rupert Murdoch reaps $34 million in compensation

    Rupert Murdoch reaps $34 million in compensation

    Media mogul Rupert Murdoch might be getting out of the office more, but he continues to pull down handsome compensation. The 85-year-old executive chairman of 21st Century Fox collected $34.6 million in executive compensation in fiscal 2016, which represents a 24% raise from the prior year, according...

  • Rising Obamacare premiums are still lower than employer-sponsored health insurance

    People who warn that President Obama's healthcare law is in dire straits often point to rising health insurance premiums as proof. Sen. John McCain (R-Ariz.) has called premium increases on Affordable Care Act exchanges "astronomically high." Sen. Ron Johnson (R-Wis.), said premiums have "skyrocketed."...

  • California added 63,000 jobs in August, 42% of U.S. total

    California employers quieted any lingering doubts about the state’s economy in August, as an uptick in hiring helped absorb hordes of new job-seekers.  The state added a net 63,100 jobs last month and the unemployment rate remained at 5.5%, according to data released by the Employment Development...

  • NBCUniversal to cut 200 jobs in DreamWorks Animation takeover

    Less than a month after completing its takeover of DreamWorks Animation, NBCUniversal disclosed that it was eliminating about 200 jobs at the Glendale studio behind such hits as “Shrek” and “Kung Fu Panda.” NBCUniversal completed its $3.8-billion acquisition of Jeffrey Katzenberg’s DreamWorks Animation...

  • U.S. worker productivity falls in second quarter, causing annual decline

    American workers' productivity slipped in the April-June quarter, feeding into a 12-month decline in how much people are producing for each hour worked. Productivity fell at an annual rate of 0.5% in the second quarter after a 0.6% drop during the first three months of the year, the Labor Department...

  • Surge in hiring calms fears about the economy — for now

    Surge in hiring calms fears about the economy — for now

    The strong rebound in hiring last month, after almost zero new jobs were added in May, allayed worries that the long recovery in the labor market and the economy was coming to an abrupt end. "We can all breathe a big sigh of relief," said Harry Holzer, a Georgetown University professor and former...

  • Private-sector job growth beats expectations in June, signaling a labor market rebound

    Private-sector job growth beats expectations in June, signaling a labor market rebound

    Businesses added 172,000 net new jobs last month, payroll firm Automatic Data Processing said Thursday, stronger than expected growth that signals a labor market rebound after a surprisingly anemic May. The figure was better than the 150,000 job gains economists had forecast and a slight improvement...

  • California Inc.: Zombies, bikes, jobs and grills

    Welcome to California Inc., the weekly newsletter of the L.A. Times Business section. Here's a rundown of upcoming stories this week and the highlights of last week. When trading resumes Tuesday, investors will be watching whether the stock market can retain the momentum it had at the end of last...

  • Who are California's top-paid CEOs?

    Who are California's top-paid CEOs?

    Among the top executives of California’s biggest companies, the highest paid, Mark Hurd, works for a tech company in the San Francisco Bay Area. So does the second best. And the fourth. And the fifth. Among the top five, Disney’s Robert Iger stands alone as the only CEO from outside of Silicon...

  • Lending Club plans layoffs, discloses loans to former CEO and family members

    Lending Club plans layoffs, discloses loans to former CEO and family members

    Lending Club plans to lay off 179 workers, or about 12% of its workforce, its latest response to a still-unfolding crisis that has cooled investors’ interest in the firm’s loans and pushed the company to dismiss its founding chief executive. The San Francisco online lender reported the layoffs...

  • Patients pay a higher share of hospital bills, study finds

    Patients pay a higher share of hospital bills, study finds

    Patients, even those with employer-sponsored health plans, may face another condition after they are discharged from a hospital stay: acute sticker shock. Out-of-pocket hospitalization costs rose 37% from 2009 to 2013, with the average patient paying more than $1,000 per hospital visit, according...

  • Grocery workers approve a strike against supermarkets

    Grocery workers approve a strike against supermarkets

    Grocery workers across Southern California voted to authorize a strike against Ralphs and Albertsons, which includes Vons, Pavilions and Safeway stores, union officials reported. The vote by 47,000 United Food and Commercial Workers members gives union officials the power to call for a strike if...

  • Supreme Court to decide if people awaiting deportation have a right to release on bond

    Supreme Court to decide if people awaiting deportation have a right to release on bond

    The Supreme Court agreed Monday to decide a case from Los Angeles on whether foreigners who are held for deportation are entitled to hearings that could lead to their release on bond.  The 9th Circuit Court of Appeals ruled that the government must provide a bond hearing and prove by “clear and...

  • 7 important financial steps to take in your 30s

    7 important financial steps to take in your 30s

    When you hit your 30s, you may start thinking about your major life goals, both personal and financial. Although you may be able to defer some of your personal life decisions, many financial decisions can have a gradual, yet enormous, impact on your life. Making them at the right time ensures that...

  • California adds jobs as its unemployment falls to 5.2%

    California adds jobs as its unemployment falls to 5.2%

    California’s job growth continued in May as employers added 15,200 people to their payrolls, according to a state data release. The state’s unemployment rate ticked down for the fifth month in a row, hitting 5.2%, still higher than the national rate of 4.7%, the Employment Development Department...

  • The last grocery strike opened the door for supermarket upstarts. What happens if there's another strike?

    The last grocery strike opened the door for supermarket upstarts. What happens if there's another strike?

    The Southern California grocery strike in 2003 and 2004 shook up the region’s supermarkets, paving the way for new chains, ethnic markets and even dollar stores to thrive. Now, as unions representing Southland grocery workers are again threatening to strike, Ralphs and Albertsons are hoping to...

  • Pimco plans layoffs as investors continue to pull out

    Pimco plans layoffs as investors continue to pull out

    Newport Beach investment giant Pimco plans to lay off about 3% of its workforce as investors have continued to pull their money during the nearly two years since star manager Bill Gross abruptly left the firm. Pimco will let go of 68 workers and offer buyouts to more, according to an internal document...

  • Money Talk: How to structure an inheritance for a spendthrift heir

    Money Talk: How to structure an inheritance for a spendthrift heir

    Dear Liz: My financially illiterate, almost 50-year-old son will be living off his inheritance when I die. A good part of his life was spent drifting, so I have no idea if he will receive Social Security or how much. How do I structure his inheritance so that he won't fritter it all away in a short...

  • Donald Trump's threatened trade war would hurt California, report says

    Donald Trump's threatened trade war would hurt California, report says

    Donald Trump’s realpolitik could do serious damage to California’s economy, a new report says. Instigating a trade war with China – something Trump has said he would “love” to do – would cripple the surge in jobs in the state, according to the UCLA Anderson Forecast, a study released Wednesday....

  • Plunge in job growth could fuel more turmoil in the presidential race

    Plunge in job growth could fuel more turmoil in the presidential race

    The nation's job engine sputtered to a near halt last month, probably derailing an interest-rate hike and igniting new concerns about the health of the U.S. economy that could further roil the tumultuous presidential campaign. The report issued by the Labor Department on Friday wasn’t all bad news....

  • Financial firms lead stocks lower after a weak jobs report

    Financial firms lead stocks lower after a weak jobs report

    Banks and other financial companies led a modest decline in U.S. stocks Friday after a report indicating that hiring slowed sharply in May put investors in a selling mood. The market slide snapped a two-day winning streak and sent bond prices surging as investors sought safety in U.S. government-backed...

  • Five things we learned from May's shocking jobs report

    Five things we learned from May's shocking jobs report

    Anemic job growth of just 38,000 in May -- the worst in more than five years -- shocked analysts, triggered warnings about the state of the economy and most likely derailed a Federal Reserve interest rate hike many had expected was coming this month. But economists cautioned not to overreact to...

  • U.S. economy creates an anemic 38,000 jobs in May, likely stalling Fed interest rate hike

    U.S. economy creates an anemic 38,000 jobs in May, likely stalling Fed interest rate hike

    Job growth ground nearly to a halt in May, with the U.S. labor market having its worst performance in more than five years, the Labor Department said Friday. The economy added just 38,000 net new jobs last month, a steep falloff from April’s disappointing 123,000 and well below analysts’ forecasts....

  • Private-sector companies create 173,000 net jobs in May

    Private-sector companies create 173,000 net jobs in May

    Private companies increased their job creation last month, adding 173,000 net new positions, but hiring lagged last year’s stronger pace, payroll firm Automatic Data Processing said Thursday. The May growth was an increase from the upwardly revised 166,000 net new jobs created the previous month....

  • California Inc.: State regulators to look at Frontier's takeover of Verizon lines

    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. We learned Friday that economic growth at the start of the year wasn't as bad as initially...

  • How to negotiate the medical bill maze in search of a better deal

    How to negotiate the medical bill maze in search of a better deal

    Dear Liz: My husband and I have run into some serious medical bills recently. We have insurance, but one provider is out of network with a huge deductible and low payout, while another claim was flat-out denied. We're looking at around $16,000 in bills, assuming nothing else is denied. What can...

  • California Inc.: A big ship celebrates a big milestone

    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. Good news for California: The Golden State added 59,600 jobs in April. Unemployment, which...

  • California outpacing U.S. on job growth, unemployment falls to 5.3%

    California outpacing U.S. on job growth, unemployment falls to 5.3%

    California employers picked up hiring in April, adding 59,600 jobs during the month, according to state data released Friday. Unemployment, which has been steadily declining, reached 5.3%, inching closer to the national unemployment rate of 5%, the Employment Development Department reported. April...

  • Stock market rises on hopes that Fed might keep interest rates low

    Stock market rises on hopes that Fed might keep interest rates low

    Stocks closed modestly higher Friday, ending three days of losses, after the U.S. government's disappointing jobs report added to speculation that the Federal Reserve might keep interest rates low for another year. Investors were also weighing tepid U.S. earnings reports and persistent weakness...

  • U.S. job growth disappoints at 160,000 in April, adding to concerns about the economy

    U.S. job growth disappoints at 160,000 in April, adding to concerns about the economy

    Job growth slowed sharply in April to a seven-month low, adding to concerns about the health of the U.S. economy after a weak start to the year. The nation’s public- and private-sector employers added 160,000 net new jobs last month, the Labor Department said Friday. The figure was below analysts’...

  • Stocks close mostly flat as investors await jobs report

    Stocks close mostly flat as investors await jobs report

    Stocks closed mostly unchanged Thursday, as an earlier rally in oil prices faded and investors waited for the release of a closely watched jobs report. The Dow Jones industrial average rose 9.45 points, or less than 0.1%, to 17,660.71. The Standard & Poor’s 500 index fell 0.49 of a point, less...

  • Weak U.S. hiring report sends stocks lower

    Weak U.S. hiring report sends stocks lower

    U.S. and global stock indexes moved lower for a second day Wednesday following a dismal report on job creation that gave investors concern over the state of the economy. That data followed a round of economic news out of China and Europe on Tuesday that also suggested sluggish growth. The Dow Jones...

  • Private-sector job growth stumbles to slowest pace in three years, ADP says

    Private-sector job growth stumbles to slowest pace in three years, ADP says

    Private-sector job growth unexpectedly stumbled last month, with U.S. companies hiring workers at the slowest pace in three years, payroll firm Automatic Data Processing said Wednesday. Employers added 156,000 net new jobs in April, a sharp falloff from a downwardly revised 194,000 the previous...

  • Uber sued again over drivers' employment status

    Uber sued again over drivers' employment status

    The class action flood gates have opened. Less than two weeks after Uber Technologies agreed to pay up to $100 million to settle class-action lawsuits in California and Massachusetts in which drivers sought to be reclassified as employees instead of independent contractors, the ride-hailing company...

  • In a down-on-its-luck Oregon mill town, the savior they're waiting for is Donald Trump

    In a down-on-its-luck Oregon mill town, the savior they're waiting for is Donald Trump

    He used to wake her up nights, shouting out his terror in the dark, his tattooed biceps continuing their clench-and-spasm dance long after a shift feeding cedar logs into the endless maw of the lumber mill. In his nightmare, Keven Jones pushed the logs into neat rows, but as he dreamed, the logs...

  • California Inc.: At last, a place young ninjas can call home

    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. Wall Street is still digesting word from the Commerce Department that U.S. economic growth...

  • Time Warner CEO Jeff Bewkes' compensation topped $31 million last year

    Time Warner CEO Jeff Bewkes' compensation topped $31 million last year

    Jeff Bewkes, Time Warner Inc.'s chairman and chief executive, collected a compensation package valued at $31.5 million in 2015, representing a 4% decline from the previous year. Bewkes, 63, received $2 million in salary, $7.9 million in stock options, stock options valued at $8 million and a $13.4-million...

  • U.S. economy grows at slowest pace in two years

    U.S. economy grows at slowest pace in two years

    Growth by the U.S. economy fell off sharply in the first three months of 2016, posting its worst quarterly performance in two years amid a global slowdown, the Commerce Department said Thursday. The broadest measure of the nation's economic output, known as gross domestic product, increased at...

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