Google owner Alphabet's profits, revenue soar in first quarter

Business / Business News /

MOUNTAIN VIEW, Calif. -- Google owner Alphabet's profits and revenue soared in the tech titan's first quarter, beating Wall Street's expectations by a wide margin, the company reported Monday.

Alphabet earned $9.4 billion on revenue of $31.15 billion for the January-through-March quarter. Profits jumped 73 percent while revenue rose 26 percent,...Read more

Southern California home prices jump to a new record high

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Southern California's median home price jumped 8.4 percent in March from a year earlier, setting a new all-time high, as hopeful buyers engaged in bidding wars over a limited supply of homes on the market.

The six-county region's median price for new and resale houses and condos hit $519,000 last month, up $40,000 from a year earlier, real ...Read more

Netflix to raise another $1.5 billion in debt for original programming

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"Altered Carbon." "Stranger Things." "Bright." Those are all titles that are exclusive to Netflix, and they cost a lot of money to produce.

So, instead of tacking on another monthly subscription rate hike, Netflix is taking on more debt to keep those productions rolling.

Netflix said Monday it would go to the public markets and raise another $...Read more

Southwest Airlines inspecting virtually its entire fleet of planes following fatal accident

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In the wake of an in-flight engine failure that killed a Southwest Airlines passenger, the carrier has started ultrasonic engine inspections covering virtually its entire fleet of more than 700 planes.

The Dallas-based carrier canceled 40 flights over the weekend as it moved to conduct the inspections of the fan blades on all of its CFM56 ...Read more

Censorship? Amazon limiting reviews of James Comey's book

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Former FBI Director James Comey's new book, "A Higher Loyalty," is highly critical of President Trump, the man who fired him.

The book might as well double as a magnet -- an online troll magnet.

But on Amazon, Comey's book has just a little more than 700 reviews despite being No. 1 on the company's non-fiction bestseller list last week. And it...Read more

Target, Walmart rolling out more electric vehicle charging stations

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Earth Day was Sunday, which means that retailers have once again made a round of announcements touting new sustainability initiatives in the last few days. This year, the big theme has been the rollout of more electric vehicle charging stations.

As car manufacturers look to convince more consumers to buy electric vehicles, one of the major ...Read more

Southwest cancels another 26 Dallas flights, tracker says. How long will this go on?

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DALLAS -- The day after Southwest Airlines canceled 40 flights coming in or out of Dallas Love Field, the airline canceled 26 flights and delayed another 35, according to

Southwest says the delays are due to inspections of its fleet of roughly 700 Boeing 737s. The inspections began on April 17, the day after an engine broke up ...Read more

EPA chief Pruitt met with lobbyist tied to $50 condo rental

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WASHINGTON -- The lobbyist whose wife rented a bedroom in a Capitol Hill condo to EPA Administrator Scott Pruitt says he met with Pruitt last July with the charitable arm of pork processor Smithfield Foods Inc., despite earlier saying he hadn't lobbied the agency on behalf of clients in the past year.

Revelations that J. Steven Hart was present...Read more

Alaska Air ekes out small profit, says merger with Virgin on track

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SEATTLE -- Alaska Air Group reported a small first quarter profit Monday of $4 million, or 3 cents a share, on revenue of $1.8 billion.

That was down from $93 million, or 75 cents a share, a year ago. But it was a better result than management had forecast at the end of last year, when it predicted a loss for the first quarter due to the ...Read more

Yahoo exits the picture, Flickr sold to SmugMug

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For Flickr, a pioneer in photo sharing, there's a new owner in the picture.

Flickr has been sold to SmugMug, a Mountain View company that offers paid photo-sharing services for professional photographers, for an undisclosed amount.

The future of Flickr, a favorite of many photo enthusiasts, was up in the air after Yahoo was bought by Verizon. ...Read more

'Good Morning America' news anchor Amy Robach is moving to '20/20'

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Amy Robach is moving off ABC's "Good Morning America" to take over as co-anchor of the prime-time newsmagazine "20/20."

ABC News President James Goldston announced Monday that Robach will replace Elizabeth Vargas, who announced late last year that she would leave "20/20" this spring.

Vargas, whose co-anchored "20/20" for 14 years, is joining A...Read more

Sears CEO Edward Lampert's fund offers to buy Kenmore, other assets

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CHICAGO -- The hedge fund run by Sears CEO Edward Lampert has offered to buy the retailer's popular appliance brand Kenmore and other Sears divisions, moving to break up the company after it failed to find other buyers for the assets.

Sears said it has received a letter from ESL Investments suggesting that it acquire all or a portion of its ...Read more

Travel 700 mph in a vacuum tube? Hyperloop promises a 30-minute trip from Chicago to Cleveland, but multiple challenges ahead

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CHICAGO -- Suppose you want to go to Cleveland from Chicago -- how fast can you get there?

A car ride takes around five hours. A plane takes an hour and 20 minutes, not counting waiting time in the airport.

Hyperloop technology, which involves a system composed of a vacuum and magnets to propel vehicle pods through a tube, could theoretically ...Read more

Change-of-address scam moved UPS corporate headquarters to tiny Chicago apartment, feds say

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CHICAGO -- The timeworn apartment building in Chicago's Rogers Park neighborhood hardly looks like the corporate headquarters of one of the world's largest shipping companies.

But for a few recent months, that's essentially what it became -- at least as far as the U.S. Postal Service was concerned.

Federal court papers unsealed last week ...Read more

Minerals glut crushes independence dreams as Greenland votes

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COPENHAGEN -- With their dream of commodity riches dead in its icy waters, voters on the world's largest island will focus on the mundane when they head to the polls on Tuesday to elect a new government.

Greenland, a dependency of Denmark that's three times the size of France but with a population the size of a large town, is believed to be ...Read more

Sixt, which came to the U.S. in 2011, is already the nation's No. 4 car-rental company

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Sixt Rent-a-car is the second-biggest car rental company in Europe but entered the U.S. market only in 2011.

But the German multinational rental company has grown so fast that it is now the fourth-largest car rental company in the U.S. Its fleets include high-end American cars, and Mercedeses and BMWs.

Sixt operates 52 outlets around the ...Read more

Mogul shifts to Toys R Us in US

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LOS ANGELES -- Los Angeles toy mogul Isaac Larian is abandoning efforts to buy the Canadian stores of Toys R Us and instead plans to sweeten his rejected bid for more than 200 U.S. outlets of the bankrupt retailer.

The Bratz doll maker told the Los Angeles Times on Sunday that he is satisfied that the 82 Canadian stores could be operated by ...Read more

'I Feel Pretty' exceeds expectations, and 'A Quiet Place' is back on top

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LOS ANGELES -- "A Quiet Place" has hardly been a silent success. With an additional $22 million in ticket sales over the weekend, the horror film directed by John Krasinski has snatched the No. 1 spot once again in its third week of release. Meanwhile, the STX comedy "I Feel Pretty" starring Amy Schumer performed slightly better than expected ...Read more

Tyson, the largest meat processor in the U.S., invests in fake meat

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Beyond Meat burgers -- plant-based patties made to resemble, sizzle and even bleed like meat -- have the potential to wean wavering carnivores from animal-based proteins.

Encouraging such a trend would seem to pose a serious financial threat to Tyson Foods, the largest U.S. meat processor.

Except Tyson has a stake in Beyond Meat and could ...Read more

The Journey: Families and money can be a troublesome combination

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When it comes to money and family, is there ever a "right" answer?

A widow with a toddler child recently confided that her late husband's family contacted her right before this month's tax-filing deadline.

In a confusing phone call, the relative told her the family wanted to include her son's Social Security survivor benefits in a tax return ...Read more