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LinkedIn beats Wall Street's expectations in the second quarter

Business / Business News /

MOUNTAIN VIEW, Calif. -- After lowering its estimates for the second quarter, LinkedIn on Thursday reported earnings and sales from April to June that beat Wall Street's expectations.

"LinkedIn continued to deliver increased member and customer value in the second quarter while delivering solid financial results," said Jeff Weiner, CEO of the ...Read more

Texas mortgage firm to pay $1.5 million restitution to borrowers

Business / Business News /

WASHINGTON -- A national mortgage servicing company headquartered in Fort Worth, Texas, has agreed to pay borrowers $1.5 million in restitution for allegedly thwarting their attempts to save their homes from foreclosure, a federal watchdog agency announced Thursday.

The Consumer Financial Protection Bureau says Residential Credit Solutions Inc....Read more

NBCUniversal in talks to invest up to $250 million in Buzzfeed News

Business / Business News /

NBCUniversal is in talks to invest as much as $250 million in Buzzfeed News as part of the traditional media giant's efforts to appeal to millennials who get much of their news online -- rather than from watching a talking head on TV.

Negotiations are in advanced stages but no deal has been reached, according to a person familiar with the talks...Read more

The mini-mogul behind Relativity Media said he'd change Hollywood, now studio files bankruptcy

Business / Business News /

LOS ANGELES -- Entertainment entrepreneur Ryan Kavanaugh, the financial whiz who piloted his own helicopter and sought to rewrite the Hollywood rules of engagement, has been grounded.

The highflying, hard-living mini-mogul, unable to make payment on $320 million owed to lenders, has begun laying off staff from his Beverly Hills-based Relativity...Read more

Climate change threatens health of Rocky Mountain resorts

Business / Business News /

ASPEN, Colo. -- Not everyone arriving in this Rocky Mountain resort steps from a private jet.

Ashley Perl bikes or takes the bus into town from her two-bedroom home in a subsidized neighborhood built for year-round workers. She grew up here, raised by parents who ran a modest cafe and socialized with a local folkie, John Denver. For her, Aspen ...Read more

Israel, Greece hope to grow closer economically despite differences

Business / Business News /

TEL AVIV, Israel -- Ten years ago, delicatessen owner Eitan Levi couldn't get the suppliers of his Greek olives on the phone, so he flew to their factory in Kalamata, Greece, to sign an import deal. He and his brother had recently inherited their father's shop in Tel Aviv's Levinsky market, but they had not learned all the business details. When...Read more

Samsung posts disappointing earnings; revenue, profit down

Business / Business News /

Samsung released disappointing second-quarter earnings Thursday, reporting revenue that was down 7 percent year over year and profit that fell 8 percent, squeezed by competitors at both the high end and the low.

The South Korean electronics giant posted profit of 5.75 trillion won ($4.93 billion) on revenue of 48.54 trillion won ($41.7 billion)...Read more

Economy grows 2.3 percent in spring; 1st quarter revised higher

Business / Business News /

WASHINGTON -- The U.S. economy rebounded this spring with annualized growth of 2.3 percent, and new data indicated that there was no contraction in the first quarter after all, the Commerce Department said Thursday.

The modest second-quarter figure -- the first of three estimates by the government -- fell short of economists' forecasts of 2.9 ...Read more

Fiat Chrysler earns $364 million in Q2 despite fines

Business / Business News /

DETROIT -- Fiat Chrysler Automobiles said Thursday that it earned a profit of $364 million (333 million euro) during the second quarter despite an $88.5 million onetime charge to cover the cost of a payment to the federal government as a result of a consent agreement the automaker signed with the National Highway Traffic Safety Administration ...Read more

Andrew Comstock: 6 questions about college savings 529 plans

Business / Business News /

If you're saving for your child's higher education, you probably have a lot of questions besides "When did college get so incredibly expensive?" One popular savings tool you might find particularly puzzling is the college savings 529 plan.

The plan, started in the late 1980s and now operated by states and educational institutions, offers tax-...Read more

Super basements proliferate in Silicon Valley

Business / Business News /

MENLO PARK, Calif. -- When architect Roger Kohler began designing them years ago, basements weren't luxury statements.

He would tuck a subterranean guest room here, a mechanical room there. The lighting was only adequate, the ceilings sometimes just 7 feet high. You practically had to stoop while walking through: "It was grim," he said.

But it...Read more

Coal industry gears up for fight over proposed stream protection rule

Business / Business News /

WASHINGTON -- A new government rule that promises to do more to protect streams near coal mining operations entered a critical stage this week, with coal industry lobbyists and environmentalists already lining up for battle.

A 60-day comment period opened Monday. After that, the Interior Department will review the public's input, decide whether...Read more

In California city, demographic shift reaches the grocery store

Business / Business News /

LOS ANGELES -- As classic diners and soda fountains gave way to double-decker strip malls packed with Chinese restaurants, Margie Myers, a resident of Alhambra for 64 years, didn't say much.

She weathered friends and neighbors moving away and endured the steady retreat of English from storefront signs.

But the change she couldn't accept came ...Read more

Real estate Q&A: Foreclosures moving quickly through the courts

Business / Business News /

Q: I have been unable to make my mortgage payments for the last four months. I figured I had more time before I had to worry about the lender coming after me. But to my great surprise, I was just served with a foreclosure lawsuit. This was much faster than I expected. Should I be concerned?

--Chester

A: Yes. You need to take this lawsuit ...Read more

Joseph A. Clark: How closely are the economy and markets linked?

Business / Business News /

Summer rolls along, theme parks are open and lines for roller coasters are long. Wild rides are fun, but you probably want a more predictable path when investing. Let's look at some parallels and distinctions between the equity markets, thrill rides and the overall economy.

First, you're accustomed to roller coaster metaphors if you follow ...Read more

As rent skyrockets, more cities look to cap it

Business / Business News /

The city council in Richmond, Calif., voted last week to cap how much rent landlords could charge tenants in the San Francisco Bay Area city where rents have increased an estimated 30 percent over the last four years.

In Seattle, where tenant activists say some renters complain their rent has increased by as much as 150 percent, two city ...Read more

Hispanics' population rises, but their home ownership doesn't

Business / Business News /

WASHINGTON -- They make up the fastest growing segment of the U.S. population, yet Hispanics are increasingly locked out of home ownership because of tighter lending standards that rely on outdated measures of creditworthiness.

Comprising more than 17 percent of the population right now and projected to double, Hispanics are a political and ...Read more

The Mortgage Professor: Is paying down your mortgage balance a good investment?

Business / Business News /

Q: We are allocating $600 a month to savings. Should we pay down our 4 percent mortgage or put the savings into our retirement account?

A: In principle, you should place it where it will earn the highest after-tax and risk-adjusted return. If you itemize your tax deductions and are in the 25 percent tax bracket, your after-tax return on ...Read more

Ann Marie van den Hurk: Snapchat can benefit small businesses in large ways

Business / Business News /

Is your business interested in connecting with young people? Snapchat could be the social platform to use in reaching this particular demographic.

Because a Snapchat message disappears after a few seconds, Snapchat has a reputation as a messaging platform for teens acting as bullies and adults sharing naughty photos. But the platform is ...Read more

Consumer Confidential: Firms should stop pretending that high-profile mergers will benefit consumers

Business / Business News /

The script has become a familiar one for consumers.

First a company announces that it's acquiring a rival firm. Both businesses declare this will be great for customers.

Federal regulators, in most cases, then say that they've looked closely at the deal and don't see any problem.

The buyout goes through and -- what do you know? -- prices ...Read more