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Wally Skalij/Los Angeles Times/TNS

AEG to sell stake in LA Live hotels as the lodging industry recovers

Business / Business News /

Entertainment giant AEG plans to raise hundreds of millions of dollars to help fund a planned expansion of the L.A. Live hospitality complex in downtown Los Angeles by selling part ownership in the Ritz-Carlton and JW Marriott hotels there.

AEG said Monday that it hopes to take advantage of a recent rebound in hotel prices and find an investor ...Read more

Susan Tompor/Detroit Free Press/TNS

Susan Tompor: First glitch of the tax season is here: That IRS child tax credit letter may be inaccurate

Business / Business News /

The first potential glitch of tax season involves new concerns about the accuracy of some letters that the IRS is sending out relating to the child tax credit.

The Internal Revenue Service said it is reviewing complaints by some taxpayers who say that the IRS Letter 6419 sent to them spells out the wrong dollar amount for what the families ...Read more

Hayne Palmour IV/The San Diego Union-Tribune/TNS

Lawsuit looks to force nuclear regulator to turn over records from San Onofre 'near-miss' incident

Business / Business News /

A lawsuit filed in U.S. District Court seeks to force the Nuclear Regulatory Commission to hand over unredacted documents regarding an incident in August 2018 when a 50-ton canister filled with nuclear waste from the San Onofre Nuclear Generating Station was left suspended for about 45 minutes.

"The information sought will show the extent to ...Read more

Washington attorney general sues Google over location tracking

Business / Business News /

Washington Attorney General Bob Ferguson is suing Google in an effort to change how the company handles users’ personal data.

Ferguson joined attorneys general in Texas, Indiana and the District of Columbia in filing a lawsuit Monday alleging the company misled consumers about its location-tracking services and, at times, collected data ...Read more

Dreamstime/Dreamstime/TNS

Tech stocks rally back from the brink as investors buy the dip

Business / Business News /

Investors sent tech stocks on a wild ride Monday with anxiety running rampant in markets, yields climbing and traders awaiting the Federal Reserve’s rates decision later this week.

It was yet another reminder to never count out dip buyers in the stock market. The Nasdaq 100 Index erased a plunge of as much as 5% with a furious rally in the ...Read more

Brad Horrigan/Hartford Courant/TNS

National poll: 50 percent of restaurants may fail if they don't get relief funds

Business / Business News /

The omicron variant has had a devastating impact on the dining industry, especially restaurants passed over last year by the Restaurant Revitalization Fund, the National Restaurant Association (NRA) reports.

In a Zoom news conference on Monday, the NRA announced that a poll of U.S. restaurateurs found that almost half that didn’t get RRF ...Read more

Brad Horrigan/Hartford Courant/TNS

Electric Boat is on a hiring spree as US military strategy faces Chinese and Russian threats

Business / Business News /

Submarine manufacturer Electric Boat said Monday it plans to hire more than 3,000 workers this year, a 20% increase over 2021 as U.S. military strategy faces rising threats from China and Russia.

“Our need to hire is persistent and it will continue as far as the eye can see,” Kevin Graney, president of Electric Boat, a subsidiary of General...Read more

Edu Grau/TNS/TNS

'Disappointing tax season' points to smaller, later refunds

Business / Business News /

In what even the U.S. Treasury says will be a frustrating tax season, families claiming the child tax credit and newly self-employed Americans are among filers likely to see the biggest challenges this year.

The season starts Monday, and while Internal Revenue Service teams have been working “non-stop” for several months, years of funding ...Read more

Dreamstime/Dreamstime/TNS

Red flags ignored as federal loans flew out the door

Business / Business News /

One woman being prosecuted in Atlanta for defrauding the Paycheck Protection Program is a Walmart bakery worker. Authorities say she helped a cousin apply for pandemic bailout loans in a multi-state scheme involving phony businesses.

Another defendant runs a trucking company and, according to his indictment, hired a financial adviser who helped...Read more

Carolyn Cole/Los Angeles Times/TNS

Don't have a 401(k) through work? Californians have CalSavers and other options

Business / Business News /

Years in the making, California's CalSavers retirement savings program is available now to hundreds of thousands of workers whose employers don't offer pensions or 401(k) plans.

The program is the state's response to a looming threat to its aging population: Millions of California workers, especially those in lower-wage jobs, have stashed away ...Read more

Dreamstime/Dreamstime/TNS

S&P 500 retreats for a fifth day, set to enter correction phase

Business / Business News /

The S&P 500 Index is set to enter a correction phase after the benchmark fell for a fifth day, extending its drop to 10% from its last record close just three weeks ago.

The benchmark fell as much as 2.3% on Monday, and will join the tech-heavy Nasdaq 100 in correction territory if it closes 10% or more below its Jan. 3 high. The small-cap ...Read more

San Diego Union-Tribune/TNS

Why pay TV operators are dropping Trump-loving cable networks

Business / Business News /

Before One America News Network host Dan Ball finished an interview with guest Jim Jordan this past week, he asked the Ohio Republican congressman for a favor.

"Please put some pressure on AT&T and DirecTV for us," said Ball, whose nightly program "Real America" airs nightly on the right-wing cable channel. "OAN would love to continue ...Read more

Mark Phelan/Detroit Free Press/TNS

Ford hits pause on 2022 Maverick orders to meet soaring demand for $20K pickup

Business / Business News /

Ford Motor Co. will temporarily stop accepting orders on its all-new 2022 Maverick compact pickup truck — both hybrid and gasoline versions — until summer, the automaker confirmed Monday.

Ford told dealers in a letter emailed Monday that orders for a gas-powered Maverick will be accepted through Thursday at close of business.

Ford hit ...Read more

Dreamstime/Dreamstime/TNS

Consumer Confidential: Here's what happened after $1,200 was drained from an 11-year-old's bank account

Business / Business News /

Noah Golden opened an account at Chase bank in 2017 for his then-6-year-old daughter. The idea was to gradually deposit funds and then present her with the windfall when she turns 18.

Golden, 41, seldom monitored the account. Year after year, he just kept putting cash into it.

It wasn't until recently the Los Angeles resident discovered that, ...Read more

Ford/TNS/TNS

Ford unleashes the ferocious Bronco Raptor

Business / Business News /

Ford has let its much-anticipated Bronco Raptor out of the cage, and it's a beast.

With a ferocious, 400-plus horsepower engine under its ribbed hood, the Raptor sits on 37-inch tires and a 9.8-inch wider track for high speed off-roading like its big brother F-150 Raptor pickup. Combine that with Bronco's signature, electronic detachable sway ...Read more

US ready to seize luxury cruise ship over unpaid fuel bills

Business / Business News /

The Crystal Symphony, a luxury cruise ship operated by financially strapped Genting Hong Kong Ltd., will be seized to repay $1.2 million in unpaid fuel bills if it docks in Miami Saturday, amid reports the vessel is being diverted to the Bahamas after a U.S. court issued an arrest warrant.

A U.S. marshall and a court-appointed custodian are ...Read more

Joe Burbank/Orlando Sentinel/TNS

Carnival to try app-based vaccine, test verification at Port Canaveral, continue cruise safety measures

Business / Business News /

Carnival Cruise Line has announced it will try an app-based verification system for COVID-19 vaccines and negative tests for passengers sailing on the Mardi Gras cruise ship out of Port Canaveral.

The cruise line said it would use the product called VerifFLY by the company Daon, something already used in the airline industry, to allow ...Read more

Steven M. Falk/The Philadelphia Inquirer/TNS

Comcast is teaming up with Nokia to sell private 5G networks to big business, government

Business / Business News /

Comcast has partnered with Nokia to sell businesses private 5G networks, the new high-speed wireless internet that could power ports, factories, and other large enterprises.

The cable giant's business services unit, Comcast Business, will deploy its first private 5G network at the Wells Fargo Center during the first quarter this year, company ...Read more

SAUL LOEB/Getty Images North America/TNS

Biden pushes Congress to pass $52 billion for chip production

Business / Business News /

President Joe Biden pleaded Friday for Congress to pass $52 billion in funding for semiconductor chip production amid an ongoing shortage that's driving up prices of cars, tech and other consumer goods.

Earlier Friday, Intel Corp. announced it would spend $20 billion to build a new chip production facility near Columbus, Ohio. The company's CEO...Read more

Win McNamee/Getty Images North America/TNS

White House is set to put itself at center of US crypto policy

Business / Business News /

The Biden administration is preparing to release an initial government-wide strategy for digital assets as soon as next month and task federal agencies with assessing the risks and opportunities that they pose, according to people familiar with the matter.

Senior administration officials have held multiple meetings on the plan, which is being ...Read more