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The Week Ahead: Testing the Teflon Trump stock rally

Business / Business News /

The stock market gyrations of last week have been blamed on anxiety caused by the House effort to repeal and replace Obamacare. Traders are worried the arm-twisting and deal-making we witnessed may signal trouble for key parts of the president's economic plan -- namely infrastructure spending and tax reform.

But what has investors truly anxious...Read more

Builders bidding to create Trump's border wall will show models in San Diego

Business / Business News /

SAN DIEGO -- Southern California is now ground zero for President Donald Trump's proposed border wall.

Select companies from around the nation, and some international firms, bidding to build the wall along the U.S.-Mexico border will be required to construct prototypes in San Diego, the U.S. Department of Homeland Security said.

The federal ...Read more

Under the Hood: Oil pressure issue might be easily resolved

Business / Business News /

Q: My 2003 BMW 325Ci has 97,000 miles on it and generally drives perfectly. I have always taken good care of it. However, after about 10 minutes of stop-and-go traffic, the oil pressure light starts flickering.

I know the problem isn't the oil level because I always check it after 500 miles and do timely filter changes. The warning light goes ...Read more

Gummy bear giant to build first North American plant, bringing 400 jobs to Wisconsin

Business / Business News /

MILWAUKEE -- The German giant that originated the gummy bear will open its first North American candy factory in Pleasant Prairie, Wis., bringing hundreds of jobs and nearly a quarter billion dollar investment to the rapidly growing area near the Wisconsin-Illinois border, Gov. Scott Walker announced Thursday.

Haribo of Bonn, Germany, will ...Read more

LA Times owner buys out major shareholder that pushed for sale of company

Business / Business News /

LOS ANGELES -- The owner of the Los Angeles Times on Thursday bought out a major shareholder that had pushed for a sale -- and at the same time gave the company's chairman, Michael Ferro, the ability to boost his ownership stake.

The move heightens competition between the newspaper company's two largest shareholders, Ferro and L.A. billionaire ...Read more

Senate Republicans vote to let internet service companies collect your browsing habits

Business / Business News /

WASHINGTON -- On a party line vote, the Senate Thursday overturned privacy rules that barred companies that provide internet service from gathering and profiting from consumers' personal information without their consent.

If the measure passes another vote in the House, internet providers such as AT&T, Verizon and Comcast will be empowered to ...Read more

Credit bureau Experian fined $3 million over misleading credit scores

Business / Business News /

LOS ANGELES -- Credit bureau Experian will pay a $3 million fine to settle a federal regulator's claims that the firm sold credit scores that were of little or no use to consumers.

The Consumer Financial Protection Bureau announced the fine and settlement Thursday. The bureau's allegations against Experian are similar to those made against the ...Read more

Senate votes to kill privacy rules meant to protect people's sensitive data from their internet providers

Business / Business News /

WASHINGTON -- The Senate narrowly voted Thursday to overturn tough new privacy rules for internet service providers, employing a rarely used procedure to invalidate restrictions that cable and wireless companies strongly opposed.

The Republican-backed measure, approved 50-48, repeals regulations approved on a 3-2 party line vote in October by ...Read more

Trump USDA pick Perdue pledges to advocate inside White House for farmers

Business / Business News /

WASHINGTON -- Lawmakers anxious about how the president's budget would hurt rural America pressed Donald Trump's pick to run the Agriculture Department for reassurance, and Sonny Perdue made open commitments to nearly every one of their requests.

"If I'm confirmed, I'm gonna get under the boards and get some room and work for agriculture ...Read more

Ford warns first-quarter profits will drop 50 percent

Business / Business News /

DETROIT -- Ford Motor said Thursday its first-quarter profit will fall by more than 50 percent to about 30 cents to 35 cents per share because of higher costs and lower vehicle sales.

Analysts, on average, were expecting Ford to earn 47 cents per share for the quarter, according to Thomson Reuters.

Last year the automaker earned 68 cents per ...Read more

Schultz's Starbucks base pay will drop to $1 in April

Business / Business News /

SEATTLE -- Howard Schultz's base salary will be reduced to $1 once he steps down from his Starbucks CEO position next month.

That's certainly less than the $1.5 million in base salary he earned last year.

But no need to fret for the billionaire. He's still got a bonus target of $3.75 million when he steps into the role of executive chairman ...Read more

AT&T strike ends; 17,000 technicians in California and Nevada return to work

Business / Business News /

LOS ANGELES -- Thousands of AT&T technicians in California and Nevada went back to work Thursday, ending a strike after their union and employer came to an agreement.

An estimated 17,000 union members had gone on strike Wednesday morning.

Communications Workers of America, District 9 posted the settlement agreement on its Facebook page late ...Read more

Disney CEO Robert Iger extends his contract as search for a successor continues

Business / Business News /

LOS ANGELES -- Walt Disney Co. Chairman and Chief Executive Robert Iger has extended his contract by one year as the company's board of directors continues to search for his replacement.

Disney announced the extension Thursday morning.

Disney has been transformed by three multibillion-dollar acquisitions orchestrated by Iger: Pixar Animation ...Read more

The Mortgage Professor: Which reverse mortgage best meets your needs?

Business / Business News /

Among the challenges faced by seniors considering a reverse mortgage is deciding which type best meets their needs. With home equity conversion mortgages -- the HECM is the Federal Housing Administration's reverse mortgage program -- there are both fixed-rate and adjustable-rate versions.

Adjustable rate HECMs can adjust annually with a maximum...Read more

Real estate Q&A: Should home seller tell buyer about airport flight path?

Business / Business News /

Q: I am selling my condo. Am I legally required to disclose that my home sits under the flight path of a moderately busy airport?

-- Louis

A: A 1985 Florida case set the precedent when it comes to home sales and "caveat emptor" (Let the buyer beware).

Based on the outcome of Johnson v. Davis, I advise sellers to disclose everything not ...Read more

Ball brothers already have brand recognition

Business / Business News /

LOS ANGELES -- When Lonzo Ball warmed up for basketball practice at Pauley Pavilion earlier this week, the UCLA freshman wore red and black ankle socks emblazoned with "BBB."

That's short for Big Baller Brand, the Chino Hills family's apparel company that hawks $60 T-shirts and $100 hats through a website. Each letter represents a different ...Read more

Virgin America will disappear into Alaska Airlines in 2019

Business / Business News /

LOS ANGELES -- Virgin America, the California-based carrier with the blue mood lighting and high-tech entertainment system, will be fully absorbed by Alaska Airlines by the end of 2019 as Alaska strives to become the West Coast's dominant airline.

Only three months after Alaska Airlines' parent company completed the $2.6 billion acquisition of ...Read more

Starbucks sets new hiring goals, including employing 25,000 veterans by 2025

Business / Business News /

SEATTLE -- Starbucks' annual meeting Wednesday in Seattle -- its last with Howard Schultz as CEO -- featured quite a few patriotic touches, perhaps a reaction to the furor surrounding Schultz's decision to hire 10,000 refugees worldwide over the next five years.

The meeting opened with a singing of the national anthem by members of Starbucks' ...Read more

Sears expresses 'substantial doubt' it can survive, but exec says it'll be OK for now

Business / Business News /

An executive at Sears and Kmart's parent company said the distressed retailer remains "a viable business" even though it had warned regulators of "substantial doubt" that it could keep its doors open amid mounting losses.

Sears Holdings Corp. raised concerns about its ability to continue operations in its annual 10-K filing with the federal ...Read more

Advertisers reportedly dump Google and YouTube, worried about extremist videos

Business / Business News /

Major American brands, including AT&T and Verizon, are reportedly pulling advertising from Google and its YouTube division in response to a growing scandal over extremist videos hosted by the internet giant.

More than 250 organizations, including the British government, have already pulled advertising in Britain after a leading newspaper there ...Read more