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  • Stocks close lower, pulled down by disappointing jobs report

    Stocks close lower, pulled down by disappointing jobs report

    Stocks posted steep losses Friday, ending the week with broad declines, as investors fretted over a report showing that U.S. job creation slowed last month. Technology stocks fell especially hard, and shares of LinkedIn had their worst day in history. Energy and consumer discretionary stocks fell...

  • Sluggish jobs report raises questions about the direction of U.S. economy

    Sluggish jobs report raises questions about the direction of U.S. economy

    For the last two years, America's job-creation machine has been like “The Little Engine That Could,” chugging ahead with "I think I can, I think I can" regardless of headwinds at home or abroad. The nation added 3 million jobs in 2014, making up all the ground lost in the Great Recession, and then...

  • Fox to reduce workforce; targets $250 million in budget cuts

    Fox to reduce workforce; targets $250 million in budget cuts

    21st Century Fox intends to trim its West Coast workforce to help reach $250 million in cost cuts this year at its TV networks and film studio. Fox's corporate bottom line has been under increased pressure because of higher programming and marketing costs. In addition, several of Fox's TV networks...

  • California Inc.: Billions in bets being placed on the big game

    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 this week will be grappling with increasingly loud talk of another recession...

  • IBM's CEO writes a new chapter on how to turn failure into wealth

    IBM's CEO writes a new chapter on how to turn failure into wealth

    "Ginni Rometty! You've led IBM to 15 straight quarters of declining revenue! Your profit was down 15% last year! Your stock price has plummeted by 36% from its peak! What are you going to do next?" "I'm going to the bank, to deposit my $4.5-million bonus!" For IBM shareholders, Ginni Rometty's...

  • Is the U.S. due for a recession or not? A case can be made either way

    Is the U.S. due for a recession or not? A case can be made either way

    For the Federal Reserve, Wednesday's decision to stand pat on interest rates wasn't hard -- not with global financial markets and oil prices in turmoil. But the Fed, like most everyone else, is finding itself trying to see past an impenetrable fog. Some economists warn that the U.S. economy could...

  • Departure of key executives continues sense of tumult at Twitter

    Departure of key executives continues sense of tumult at Twitter

    SAN FRANCISCO — Five top executives have flown the coop at Twitter Inc., signaling continued upheaval at the struggling microblogging company months after founder Jack Dorsey returned to the helm.The exodus of so many executives at once spells internal tumult at Twitter, which has battled corporate...

  • Text of President Obama's 2016 State of the Union address

    Text of President Obama's 2016 State of the Union address

    This is the text, as prepared for delivery, of President Obama's 2016 State of the Union address. Mr. Speaker, Mr. Vice President, Members of Congress, my fellow Americans: Tonight marks the eighth year I’ve come here to report on the State of the Union. And for this final one, I’m going to try...

  • Oil dips below $30 a barrel, lowest level in 12 years

    Oil dips below $30 a barrel, lowest level in 12 years

    The relentless slide in oil prices, which hit 12-year lows Tuesday, is having only mixed results in helping California drivers save at the gas pump, analysts said.Gasoline prices in the state have fallen from peaks reached last July. But because of California’s unique gasoline market, the state’s...

  • Why the decade's second half may look much different from the first for investors — and workers

    Why the decade's second half may look much different from the first for investors — and workers

    For all the pain and suffering brought on by the 2008 financial crash, the years that followed turned out to be pretty decent for the U.S. economy — at least compared with the dire forecasts that were commonplace in 2009 and 2010. Instead of spiraling into a new Depression, the economy has continued...

  • U.S. adds 292,000 to payrolls in December

    U.S. adds 292,000 to payrolls in December

    Global stock markets have been tumbling, China's economic growth appears to be slowing faster than expected and many key world economies are struggling.But new data show the U.S. job market is getting stronger.The Labor Department said Friday that the nation added 292,000 net new positions in December,...

  • Five takeaways from the strong U.S. jobs report

    Five takeaways from the strong U.S. jobs report

    Despite a slowing global economy, the U.S. jobs market showed surprising strength last month. The nation added 292,000 net new jobs, the Labor Department said Friday, exceeding analyst expectations. The unemployment rate held steady at 5%, the lowest level since early 2008. Here are five key takeaways....

  • Yahoo could lay off 10% of its workforce, report says

    Yahoo could lay off 10% of its workforce, report says

    Yahoo is planning to cut at least 10% of its workforce as part of a reorganization aimed at stemming the turmoil at the Internet company, a report says.More than 1,000 employees could be let go as early as this month, unnamed sources told Business Insider.The cuts would be companywide, but Yahoo...

  • Time Warner extends Chairman and CEO Jeff Bewkes' contract through 2020

    Time Warner extends Chairman and CEO Jeff Bewkes' contract through 2020

    Time Warner Inc. has extended Chairman and CEO Jeff Bewkes' employment for three years, through 2020. "Since becoming CEO, Jeff has transformed the company to focus on video content, capitalized on the combined strength of Turner, HBO and Warner Bros. and delivered consistently strong operating...

  • Macy's to slash 4,800 jobs and close 40 stores after disappointing holidays

    Macy's to slash 4,800 jobs and close 40 stores after disappointing holidays

    After a disappointing holiday season, Macy's Inc. said Wednesday that it planned to cut about 4,800 jobs and close 40 stores as part of efforts to slash costs. The department store chain, which is closely associated with the holiday season, said comparable sales for November and December 2015 dropped...

  • Private-sector hiring accelerated in December to 257,000, ADP says

    Private-sector hiring accelerated in December to 257,000, ADP says

    Companies accelerated their hiring in December, adding a robust 257,000 net new jobs in a sign that the labor market finished last year strong, according to a report Wednesday from payroll firm Automatic Data Processing. The job growth figure exceeded analyst expectations. It was the most net new...

  • Applications for unemployment benefits jump

    More Americans requested unemployment benefits last week, but the level remains near historic lows, a positive sign for the job market. Applications for jobless aid jumped 20,000 to a seasonally adjusted 287,000, the Labor Department said Thursday. The less volatile four-week average climbed 4,500...

  • A new year and new laws – on guns, voting and minimum wage

    A new year and new laws – on guns, voting and minimum wage

    Laws taking effect at the start of the new year show states diverging on some hot-button issues. Restrictions on carrying guns will ease in Texas, for example, but will get tighter in California. It will be easier to register to vote in Oregon, but there will be another step to take at the polls...

  • U.S. home prices climb in October, helped by solid job market

    Steady job growth, low mortgage rates and tight inventories helped fuel rising U.S. home prices in October. The Standard & Poor's/Case-Shiller 20-city home price index rose 5.5% in the 12 months ending in October, up from a 5.4% pace in September, according to a report released Tuesday. Home values...

  • Consumer confidence rises in December

    An improving job market lifted consumer confidence in December, a business group says. The Conference Board says that its consumer confidence index rose to 96.5 this month from November's revised 92.6. Americans were more optimistic about current conditions and about the future. "As 2015 draws...

  • Applications for jobless aid dropped last week

    Applications for jobless aid dropped last week

    The number of Americans seeking unemployment benefits fell last week, reflecting a job market that continues to look persistently healthy. THE NUMBERS: Applications for jobless aid declined 5,000 to a seasonally adjusted 267,000, the Labor Department said Thursday. The less volatile 4-week average...

  • Disney CEO Bob Iger's compensation falls slightly to $44.9 million

    Disney CEO Bob Iger's compensation falls slightly to $44.9 million

    Walt Disney Co. Chairman and Chief Executive Bob Iger's compensation totaled $44.9 million in fiscal 2015, down about 3% from the previous year, according to a Securities and Exchange Commission filing Wednesday.  Iger's base salary of $2.5 million was unchanged from 2014, when his overall compensation...

  • California adds just 5,500 jobs in November; unemployment rate declines to 5.7%

    California adds just 5,500 jobs in November; unemployment rate declines to 5.7%

    California employers added just 5,500 jobs in November, according to federal data — a significant slowdown from more robust monthly gains earlier in the year.But the state unemployment rate continued its five-year-long decline, dropping to 5.7% in November, the lowest in eight years. The U.S. unemployment...

  • Hollywood is 'in the Sidney Poitier phase of trans representation' in TV and film

    Hollywood is 'in the Sidney Poitier phase of trans representation' in TV and film

    During the fourth season of "The Jeffersons," the series Norman Lear created as the black spinoff of "All in the Family," Sherman Hemsley's character, George, is excited about reconnecting with an old Navy buddy. Knocking on his friend Eddie's hotel room door, George prepares himself for a trip...

  • High veteran unemployment appears to be in the past, but the push for more hires continues

    High veteran unemployment appears to be in the past, but the push for more hires continues

    Wal-Mart says it met its goal of hiring 100,000 military veterans and has upped its commitment to 250,000. A coalition of more than 200 other companies has scrapped its original objective of hiring 100,000 vets and vowed this month to make a million hires. And a separate campaign by the U.S. Chamber...

  • Yellen signals rate hike is coming later this month

    Yellen signals rate hike is coming later this month

    Federal Reserve Chairwoman Janet L. Yellen, saying the U.S. economy has come a long way since the Great Recession, gave clear signals Wednesday that the central bank was likely to raise interest rates this month.In a highly anticipated speech in Washington, Yellen said the Fed had made good progress...

  • A new Obamacare myth is born: Hordes of Americans are 'gaming' the system

    A new Obamacare myth is born: Hordes of Americans are 'gaming' the system

    With the traditional attack points on the Affordable Care Act having faded away--most enrollees were already insured (wrong), millions of people lost their coverage and couldn't replace it (wrong), etc.--Obamacare's critics have been looking for new ones. An up-and-coming star of this firmament...

  • Private-sector job growth accelerated to 217,000 in November, ADP says

    Private-sector job growth accelerated to 217,000 in November, ADP says

    Private-sector employers accelerated their hiring last month, adding 217,000 net new jobs in the best performance since June, payroll firm Automatic Data Processing Inc. said Wednesday. The job growth topped an upwardly revised 196,000 in October and was another positive economic signal, adding...

  • Health care, banking stocks lead a recovery in U.S. markets

    Health care, banking stocks lead a recovery in U.S. markets

    Stocks started off December on a strong note, helped by improving economic data from Japan and Europe as well as hopes that the European Central Bank will expand its stimulus program. Trading remained relatively quiet ahead of the release later this week of the U.S. government's monthly jobs survey...

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