'Finding Dory' outswims 'Independence Day,' while 'The Shallows' surprises

Business / Business News /

LOS ANGELES -- Two aquatic tales -- one geared for families, the other for scare-seeking teens and adults -- helped to buoy the weekend box office, with Disney/Pixar's "Finding Dory" retaining the No. 1 spot and the shark-attack thriller "The Shallows" exceeding expectations in its first weekend to come in fourth.

"Finding Dory" was expected to...Read more

German leader says talks on British EU exit needn't be nasty

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LONDON -- German Chancellor Angela Merkel Saturday urged her fellow European Union leaders to react cautiously to Britain's vote to leave the EU, breaking with fellow European leaders who seek a swift and decisive divorce with Britain.

"It should not take ages, but I don't think there's any reason to get a cramp now pushing for a short time ...Read more

Investment advisers weigh in on Britain's exit from EU

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Britain's vote to leave the European Union is evidence we're living in an increasingly uncooperative world, Los Angeles money manager Jeffrey Gundlach said. That's why he's betting on gold, short-term bonds and other assets seen as safe havens, rather than on stocks.

Gundlach, chief executive of DoubleLine in Los Angeles, said in February that...Read more

EU founders pressure Britain to leave quickly

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BERLIN –– Top European diplomats called on Britain Saturday not to delay its exit from the European Union, saying that negotiations must start as soon as possible and Prime Minister David Cameron should step down sooner than planned.

Britain must invoke Article 50 of the Lisbon Treaty "as soon as possible" to trigger talks on Britain's ...Read more

Moody's cuts Britain's credit-rating outlook to 'negative'

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LONDON ––Credit-rating agency Moody's Investors Service cut Britain's outlook from "stable" to "negative" on Saturday after the country's vote to leave the European Union.

The vote and the resignation of Prime Minister David Cameron will have "negative implications for the country's medium-term growth outlook," U.S.-based Moody's said. "...Read more

Gail MarksJarvis: What the Brexit vote means for you: 8 key questions

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Hold onto your hats.

The Dow Jones Industrial Average closed down 611 points Friday on a volatile day as investors worried about what the exit of the United Kingdom from the European Union will mean to the economy and business.

It will take weeks and months for the economic outcomes to show in the U.K. and the rest of the world. Back in the U....Read more

Will 'Brexit' mark the end of the age of globalization?

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WASHINGTON -- For decades, financial and political leaders have preached the inevitability of globalization, promising nations that by sacrificing some of their sovereignty and dropping national barriers they could reap far greater rewards through economic integration and cooperation. And that turned out to be largely true.

But Britain's ...Read more

California winemakers press for stricter label rules

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WASHINGTON -- California winemakers have now enlisted lawmakers and federal regulators in their latest effort to stop the dilution of some vintage names.

Squeezed by the state's large congressional delegation, regulators are proposing to restrict further the use of certain crucial words on wine labels. The move would stop out-of-state wine ...Read more

UK film and TV industries 'grieving' in wake of 'Brexit' vote

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LOS ANGELES -- Most fans of the horror series "Penny Dreadful" think of the Showtime drama as a British TV show. The story is set in turn-of-the-century London and many of the actors and writers are from the U.K. But "Penny Dreadful" has been a multinational show helped by the U.K.'s membership in the European Union -- a relationship the British...Read more

The Week Ahead: A report card on banks for their investors

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It is testing time for America's big banks.

In the past week, the Federal Reserve released its annual review of the soundness of the American banking system.

As a group, they passed. In the week ahead, the Fed will say whether individual banks can send more money back to their shareholders. If the Fed thinks the banks do not pose a big risk to...Read more

United, flight attendants near tentative deal on new joint contract, first since 2010

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CHICAGO -- United Airlines and a negotiating team for the company's 25,000 flight attendants have agreed on terms of a new contact, the Association of Flight Attendants said in a statement on its website. It would be the first joint contract for the airline's flight attendants since the 2010 merger between United and Continental Airlines.

The ...Read more

Ryan tax plan cuts corporate rate to 20 percent to stem inversions

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WASHINGTON -- U.S. corporations would get the largest federal income-tax rate cut in history, and their foreign earnings would no longer face domestic taxes when they return to the U.S. under a plan that House Republicans unveiled Friday.

The changes would remove incentives for U.S. companies to seek offshore tax addresses for lower tax bills, ...Read more

US markets drop sharply after 'Brexit' vote increases global recession risk

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WASHINGTON -- Major U.S. stock indexes plunged Friday morning following a large-scale global selloff overnight in the wake of Britain's vote to leave the European Union.

The Dow Jones industrial index plummeted 500 points, or about 3 percent, in early trading. The broader Standard & Poors 500 index and the technology heavy Nasdaq composite also...Read more

Mark Phelan: Mulally, Nader lead new class into auto hall of fame

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Alan Mulally, the CEO who flew in from Boeing to rescue Ford, leads 2016's inductees to the Automotive Hall of Fame.

The rest of the class is:

--Ralph Nader, pioneering consumer advocate.

--Bertha Benz, pioneering driver and wife and business partner of Carl Benz, inventor of the automobile.

--Roy Lunn, godfather of the original Ford GT40, ...Read more

Senate bares frustration with customer service of cable industry

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WASHINGTON -- U.S. senators blasted Comcast, AT&T, Charter Communications and Dish Network over millions of dollars in pay-TV billing overcharges, promotional pricing, bill haggling and other loathed customer-service practices during a hearing here on Thursday that included officials of those companies.

The hearing aired the findings of the ...Read more

Twilio shares soar 90 percent in stock market debut, boding well for other tech IPOs

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Communications software maker Twilio Inc. flourished in its stock market debut Thursday, signaling that investors starving for new opportunities may be renewing their interest in risky tech companies.

Twilio shares jumped 90 percent from the initial offering price of $15, closing at $28.53.

The San Francisco company's well-received debut could...Read more

Boeing applies for license to launch proposed satellite constellation

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Boeing Co. has applied for a license from the Federal Communications Commission to launch and operate a network of thousands of satellites, joining companies such as SpaceX and OneWeb in the new race to build constellations for broadband internet access.

In its application filed Wednesday, Boeing said it planned to initially deploy 1,396 ...Read more

Twilio IPO off to strong start

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SAN FRANCISCO -- Cloud communications startup Twilio kicked off its first day of trading by jumping 65 percent from its initial public offering price -- a strong start for Silicon Valley's first tech offering of the year.

Twilio opened at $24.71, up from the $15 a share price it set on Wednesday. The jump is another sign that its $150 million ...Read more

McDonald's new HQ: 608,000 square feet, with shops, green space and concerned neighbors

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CHICAGO -- McDonald's will occupy a two-building structure complete with green space and retail shops when it moves its headquarters to Chicago's West Side in the spring of 2018. Construction on the $250 million complex starts next month.

Those and other features emerged Wednesday night as Sterling Bay, the developer behind the proposed 608,000...Read more

Costco credit card switch a headache for some shoppers

Business / Business News /

Costco has been planning its big credit card changeover for months, but it hasn't gone smoothly for all customers.

On Monday, Costco officially dropped its longtime exclusive partnership with American Express and began accepting only Visa cards, including a new, co-branded Costco Anywhere card issued by Citigroup.

Customers who previously had ...Read more