Weinstein Co. has filed for bankruptcy and will pursue a sale

Business / Business News /

LOS ANGELES -- Harvey Weinstein's embattled movie studio -- once a premier maker of award-winning films -- has filed for Chapter 11 bankruptcy more than five months after sexual misconduct allegations against its co-founder sent the company spiraling out of control, the company's board said late Monday night.

The filing, submitted in Delaware, ...Read more

A data mining company allegedly used Facebook to distort users' reality

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SAN FRANCISCO -- Many Facebook users rely on the social network to figure out what's going on in the world. But what if the world Facebook shows them is wildly distorted?

That's the question raised after a former employee of a data mining firm that worked for Donald Trump's presidential campaign alleged the company used Facebook to bombard ...Read more

Justice Department's effort to halt AT&T-Time Warner merger goes to trial as both sides spar over evidence

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WASHINGTON -- The high-stakes antitrust showdown over AT&T Inc.'s planned $85-billion purchase of Time Warner Inc. began in a Washington courtroom Monday as both sides sparred over key issues that signaled their legal strategies.

Opening arguments will take place Wednesday in a trial that U.S. District Judge Richard Leon said could last six to ...Read more

Pentagon picks Missouri firm to build legal-meeting site at Guantanamo

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A Missouri firm that specializes in providing prefabricated buildings to the U.S. military has won a contract to provide a $235,156 pop-up site for defense lawyers to meet with six captives at Guantanamo.

The Pentagon announcement awarding the contract to Hunter Saak of Jonesburg, Mo., included a sketch of the proposed wheelchair-accessible, 30...Read more

Amazon sellers seek more clout with new 'merchants guild'

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The millions of merchants who sell products on Inc. have long craved more leverage over their powerful benefactor. Now some are creating a trade association in the hopes that a unified voice will force Amazon to take them more seriously.

Organizers began pitching fellow merchants on the Online Merchants Guild last week at the Prosper...Read more

SpaceX may have big manufacturing plans for the Port of Los Angeles

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LOS ANGELES -- SpaceX has entered into preliminary negotiations with the Port of Los Angeles for a lease that would expand the Hawthorne space company's port facilities to manufacture "large commercial transportation vehicles."

Port and company officials would not comment on what exactly would be built on the 18-acre site on Terminal Island, ...Read more

Arizona pedestrian is killed by Uber self-driving car; company puts testing on hold

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In what is believed to be the first death of a pedestrian hit by a self-driving car on a public street, a woman in Tempe, Ariz., was killed in an accident involving an Uber autonomous vehicle Sunday night.

Uber confirmed the accident occurred, and that there was a person in a front passenger seat acting as operator of the vehicle. Uber said ...Read more

Facebook is testing ways to compensate video creators so it can cut into YouTube's dominance

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If you're a die-hard fan of a Facebook video creator, the social network may soon give you a way to pay for exclusive content and award you with a digital badge to declare your fandom.

Those are some of the new ideas Facebook is introducing in the coming months to test ways to build up its creator community.

The initiative, aimed at boosting ...Read more

Grassley considers hearing with Facebook, Google, Twitter CEOs after reports of data harvesting

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WASHINGTON -- The Senate Judiciary Committee chairman is considering holding a hearing with the chiefs of Facebook Inc., Alphabet Inc.'s Google and Twitter Inc. after reports that a company that worked for President Donald Trump's campaign harvested data on millions of Facebook users without their consent.

Sen Chuck Grassley, R-Iowa, has "taken...Read more

Michael Ferro retires as Tronc chairman ahead of LA Times sale

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Michael Ferro is retiring from the board of Tronc ahead of the newspaper chain's $500 million sale of the Los Angeles Times and other California assets.

Ferro's retirement is effective immediately, the company said. Justin Dearborn, chief executive officer of Tronc, was named to succeed Ferro as chairman of the company that also owns the ...Read more

Airlines propose long list of rules to kill or revise as part of Trump deregulation initiative

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LOS ANGELES -- Nearly an hour after her American Airlines flight was scheduled to leave Honolulu International Airport, passenger Lisa Hill heard the pilot announce that a maintenance problem would delay the takeoff.

The pilot gave fliers the option of getting off the plane but Hill, who was flying to Boston after visiting her son, decided to ...Read more

Broadcom-Qualcomm: What's the fallout of epic takeover battle?

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SAN DIEGO -- Just two weeks ago, Broadcom Chief Executive Hock Tan had Qualcomm hooked.

He was poised to reel in his biggest prize in a long string of trophy acquisitions of technology companies. In early voting, a significant number of Qualcomm shareholders reportedly cast ballots supporting Tan's candidates for Qualcomm board of directors, ...Read more

Exploiting Facebook data to influence voters? That's a feature, not a bug, of the social network

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With each comment, like and share, users provide Facebook with a deeply personal window into their lives.

The result of that voluntary behavior? Advertisers looking to finely target their pitches can glean someone's hobbies, what they like to eat and even what makes them happy or sad -- propelling Facebook's ad revenue to $40 billion last year....Read more

Where did their Twitter go? FIU bridge builder MCM deletes social media accounts

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MIAMI -- Munilla Construction Management, the construction firm behind the Florida International University pedestrian bridge that collapsed last week, has deleted its Twitter account.

It's unclear when the company did away with the page, along with content that once boasted about the state-of-the-art bridge.

The company's Facebook and ...Read more

'Panther' bests all rivals at box office again

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LOS ANGELES -- Marvel's comic book juggernaut "Black Panther" continues to crush the box office and the record books.

The Disney blockbuster added $27 million to its domestic earnings over the weekend, raising its total to $605.4 million, according to figures from measurement firm ComScore.

"Black Panther" is the first picture to spend five ...Read more

Saudi crown prince heads to White House and Silicon Valley

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WASHINGTON -- Promoting the image of a new Saudi Arabia, Crown Prince Mohammed bin Salman arrives Monday in Washington on a cross-country trip to court government officials, Silicon Valley technology companies, investors and one of his biggest fans: President Donald Trump.

He is a prince on a mission and in a hurry.

The 32-year-old heir to the...Read more

No breach, but not secure: Misuse of data shows Facebook flaws

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SAN FRANCISCO –– Facebook wants you to know: this wasn't a breach.

Yes, Cambridge Analytica, the data-analysis firm that helped. President Donald Trump win the 2016 election, violated rules when it obtained information from about 50 million Facebook profiles, the social-media company acknowledged. But the data came from someone who didn't ...Read more

The Journey: Midlife transformation begins with bold decision

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Midlife can be a minefield. Gray divorce, death of a partner, sudden illness, age discrimination or brutal corporate downsizing, to name a few potential triggers.

For Veronica Buckley, it was a job transfer to Chicago for her husband that uprooted her more than a decade ago from an administrative position she loved in New York. She was 48 and ...Read more

Tariffs threaten global trade system

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WASHINGTON -- By justifying tariffs on steel and aluminum in the name of national security, President Donald Trump has threatened the global trading order.

For decades that order has been underpinned by the World Trade Organization, whose 164 member-states have agreed to abide by WTO rules for open trade and settling disputes. The United States...Read more

Motorola Mobility layoffs hit about 200 employees in Chicago

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Smartphone-maker Motorola Mobility has laid off about 200 employees at its Chicago headquarters, according to sources.

Motorola spokeswoman Kathryn Hanley would not confirm the scope of the layoffs, but said the affected employees received notice last week. The layoffs are part of a previously announced global restructuring under Chinese parent...Read more