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Los Angeles Times
Business News
Suddenly, their house is taken over
A Long Beach couple struggling with mortgage payments find out their home's been auctioned off by Wells Fargo when the new owner's representative shows up on their doorstep.
Mike and Ellen Kahara knew times were tough. They'd run up about $30,000 in debt on their credit cards and had fallen about $8,000 behind on their mortgage payments.
Hollywood gets a kick out of 'rebooting'
Giving fresh starts to film franchises such as 'Spider-Man,' 'Batman' and even 'The Wizard of Oz' is the latest fad in the movie business. To some, it's a sign of the industry's creative poverty.
When Sony Pictures' plan for a fourth "Spider-Man" movie starring Tobey Maguire fell apart in January, the studio had to come up with a new way to keep the superhero series alive after three movies released from 2002 to 2007 grossed $2.5 billion worldwide.
Wholesale inventories rise 1.3% in July
Inventories held by wholesalers surged in July by the largest amount in two years while sales rebounded after two straight declines.
Cadmium in Chinese jewelry raises alarms
U.S. regulators have recalled more than 200,000 pieces of jewelry containing the metal, which can be toxic in high levels.
The cupcake-shaped pendants came in shades of blue and pink, studded with rhinestones. Meant for little girls, they hung on simple faux-silver necklaces and cost as little as $8.
The Food and Drug Administration fired another shot across the bow of the electronic cigarette industry Thursday, warning five companies that their products need to be approved as drugs and/or drug delivery devices and calling on other companies to meet with the agency to discuss obtaining marketing approval.
The Federal Trade Commission has sued longtime bulb manufacturer Lights of America Inc., charging that some of the company's energy-saving LED bulbs don't burn nearly as brightly or as long as advertised.
Girding itself for its final battle, the video game industry will lay out its arguments before the U.S. Supreme Court on why California's ban on the sale or rental of violent video games to minors violates the developers' free speech rights.
President Obama will name economist Austan Goolsbee to head his Council of Economic Advisors during a news conference Friday, filling a crucial position with a longtime advisor and friend from his tenure at the University of Chicago.
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