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After nearly buying Warner Bros., Netflix is laying off 1,000 workers. What happened?

Business / Business News /

It was a crowning moment. Netflix appeared to have prevailed in an audacious$82.7 billion deal to scoop one of the industry’s most prestigious studios: Warner Bros. The move seemed to cement Netflix’s status as the ultimate Hollywood gate-crasher and its dominance as the leading new player in media.

Now, nearly a year later, the plotline ...Read more

Ronaldo BolaÒos/Los Angeles Times/TNS

Inside a California shopping center's struggle to reinvent mall food

Business / Business News /

LOS ANGELES — Westfield Topanga is one of Southern California's most popular malls, but it has grappled with what to do with the empty space left when it lost its Sears.

Joining a national wave of malls trying to become fancy food destinations, it launched its food hall — Topanga Social — in 2023, with high-end menus and an upgraded ...Read more

Eric Thayer/Los Angeles Times/TNS

AI robots are roaming LA grocery store aisles. Shoppers and workers are worried

Business / Business News /

LOS ANGELES — The robot takeover looks a lot different from what we see in Hollywood thrillers.

Even as artificial intelligence-powered humanoid robots dance, box and beat human running-speed records, the physical bots showing up in our daily lives in Los Angeles are less Terminator and more R2-D2.

On a Wednesday afternoon at Ralphs on Pico ...Read more

Real estate Q&A: What should we check before we buy a house near the water?

Business / Business News /

Q: We found a beautiful home a few blocks from the water and are ready to make an offer. Friends keep warning us about flood zones and insurance, and one even mentioned something called an elevation certificate. We don’t want to talk ourselves out of a house we love, but we also don’t want a nasty surprise. What should we check before we buy...Read more

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Terry Savage: Your questions answered on Medicare open enrollment

Business / Business News /

Yes, Medicare open enrollment is complicated — even if you already have coverage that you like.

Everyone, and that means everyone, must review their current coverage and see what changes are coming to their current coverage for 2027. You simply can’t afford to be surprised not only by rising prices but by changes in providers and ...Read more

Michael Vi/Dreamstime/TNS

Universal Music Group's top Republic and Def Jam executives exit in restructuring

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Several top executives are leaving Universal Music Group, including the heads of Def Jam Recordings and Republic Records, while other leaders prepare to take on larger roles, according to an internal announcement on Wednesday.

Republic Records Chairman and Chief Executive Jim Roppo is among the biggest names leaving. Hours after news of his ...Read more

Grid emergency spurs renewed calls for more mid-Atlantic power generation

Business / Business News /

Baltimore Gas and Electric and its sister utilities renewed calls for boosting power generation Wednesday after the federal government issued an emergency order aimed at preventing blackouts in Maryland and throughout the mid-Atlantic.

The U.S. Department of Energy issued the order, in effect through Friday, because of unusually warm fall ...Read more

Josh Edelson/AFP/Getty Images North America/TNS

OpenAI vows not to use trade secrets allegedly taken from Apple

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OpenAI agreed not to use trade secrets that Apple Inc. claims were stolen by employees who defected from the iPhone maker to the artificial intelligence startup while a legal fight between the companies plays out.

The ChatGPT maker made the voluntary concession during a court hearing Wednesday in which a federal judge said he was “highly ...Read more

Alex Kormann/Minnesota Star Tribune/TNS

ICE's Operation Metro Surge cost Twin Cities a reported 32,000 jobs

Business / Business News /

Operation Metro Surge cost Minnesota 32,000 jobs, a new study found.

The job losses followed the immigration crackdown between December and February, which included about 4,000 arrests, according to the report by the Minnesota Budget Project and the Immigration Research Initiative. It’s the latest report showing the economic harm caused to ...Read more

Saul Loeb/AFP/Getty Images North America/TNS

Fed Beige Book shows intensifying price growth in some areas

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Half of the 12 Federal Reserve districts saw robust or intensifying price pressures in recent weeks as higher energy prices permeated the local economies, according to a survey of the central bank’s regional contacts.

Businesses in many of the central bank’s districts also noted inflation from other commodities, tariffs and insurance, ...Read more

Frederic J. Brown/AFP/Getty Images North America/TNS

US mortgage rates reach 7.5%; home-buying slump hits sixth week

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U.S. mortgage rates continue to rise, pushing down home purchasing activity for a sixth straight week.

The contract rate on a 30-year fixed mortgage ticked up 1 basis point to 7.50% in the week ended Oct. 9, still the highest level since November 2023, according to Mortgage Bankers Association data released Wednesday. Rates are up nearly 1 ...Read more

John T. Greilick/The Detroit News/TNS

Patients face cutoff of cheaper prescriptions from Canada

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For Kathryn Branham, the cost of a blood thinner she and her terminally ill husband both take could jump by hundreds of dollars a month if they can no longer order the medication from a Canadian pharmacy.

Branham estimates the Royal Oak, Michigan, couple pays about $300 a month for Eliquis through a pharmacy in British Columbia, compared with ...Read more

Kevin Dietsch/Getty Images North America/TNS

US retirees to get another $75 a month for 2027 Social Security

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Monthly checks for nearly 72 million Americans receiving Social Security benefits will increase by 3.6% in 2027, the most in four years.

The cost-of-living adjustment, known as COLA, will apply to Social Security benefits starting in January and increase the average benefit for retired workers by $75 per month to $2,170, the Social Security ...Read more

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Tech review: Dreaming of a really big screen

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My dream house is going to have a home theater room with a big screen.

Sadly, my current house doesn’t have a good spot for a permanent screen.

I’ve reviewed half a dozen very nice projectors, and they all had to be placed 6 or 8 or 10 feet from the screen. The thing about projecting an image that far is that the projector light source has...Read more

Genaro Molina/Los Angeles Times/TNS

This Culver City startup made shopping into a spectator sport -- and billions of dollars

Business / Business News /

Stef Garcia stands in front of her phone and sells, sells, sells.

The former reality television worker who lives in North Hollywood shows off a neon-green watch in a live video as viewers bid on her rapid-fire offers. She gives shoppers seven seconds to bid.

"Don't lose it for a dollar," Garcia says, counting down.

"Let's go!" screams her co-...Read more

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Disney strikes $20-million deal for Character.ai's assets as AI startup files for bankruptcy

Business / Business News /

Character.ai, a California startup that has faced lawsuits over allegations that chatbots created on its platform harmed the mental health of teens and led to copyright issues, filed for Chapter 11 bankruptcy.

The Menlo Park-based company runs an app that allows people to create and interact with chatbots who mimic celebrities, historical ...Read more

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CFTC staff were told to retract analysis of suspicious oil trades

Business / Business News /

When President Donald Trump backed away from threats to strike Iranian power plants on March 23, it sparked a frenzy of buying and selling across oil, equities and other markets.

Traders had grown accustomed to prices lurching wildly on developments in the Middle East. But this time, some bettors had timed it perfectly. Billions of dollars’ ...Read more

Tomas Cuesta/AFP/Getty Images North America/TNS

Legacy carmakers risk losing mass market to Chinese rivals

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Legacy carmakers won’t likely be able to match Chinese rivals on price and may already have missed first-mover advantage on electric and software-developed vehicles, according to a report by Mobility Global Inc.’s automotive analysts.

The paper, which the research firm released Tuesday, projects established automakers will retain the upper...Read more

Heather Diehl/Getty Images North America/TNS

UnitedHealth posts $4B profit in comeback from financial spiral

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UnitedHealth Group is gaining steam on a turnaround as it heads into a critical enrollment season for its Medicare Advantage business.

The Eden Prairie, Minnesota-based health care giant reported third quarter results Tuesday that surpassed profit expectations, showing ongoing progress under chief executive Stephen Hemsley toward profitable ...Read more

Jose F. Moreno/The Philadelphia Inquirer/TNS

Why Philly was just ranked the worst big US city for drivers

Business / Business News /

In news that surprises no one, Philadelphia was recently named the worst city for drivers.

That’s according to a WalletHub survey released last week that compared the 100 most populated U.S. cities “across 30 key indicators of driver-friendliness.”

The metrics did not take into account the actual friendliness of the drivers. Instead, ...Read more