Wall Street closed lower as rising consumer concerns over inflation and tariffs fueled market anxiety. Investors weighed the impact of escalating trade tensions on economic growth and corporate earnings.
Browsing: Business
The US trade deficit widened in July as soaring imports outpaced exports, signaling strong domestic demand but raising concerns over the trade gap’s impact on economic growth, according to official data released by Reuters.
Harbor Associates and Gemdale USA have acquired the Agoura Hills Business Park near Los Angeles for $29.7 million, marking a significant investment in the region’s commercial real estate market.
Swiss bike maker BMC has opened its U.S. headquarters in Los Angeles, aiming to strengthen its presence in the North American market. The move highlights growing demand for premium bicycles in the region.
Actum LLC has officially opened its new headquarters in downtown Los Angeles, aiming to expand operations and boost its presence in the region. The move is expected to drive local economic growth and innovation.
A 79-year-old US citizen alleges ICE agents body-slammed him at his business, sparking outrage. He is now suing for $50 million, claiming excessive force and seeking justice. More details at abcnews.go.com.
Once the most valuable U.S. chipmaker, Intel has fallen far behind Nvidia due to struggles in innovation and market shifts. Nvidia’s dominance in AI and gaming chips propelled its rapid rise, overshadowing Intel’s legacy.
A suspect has been charged with starting the deadly Los Angeles Palisades Fire, Reuters reports. The blaze caused significant damage and forced evacuations. Authorities continue to investigate the incident.
New tariffs on imported goods are set to impact U.S. consumers with higher prices on products ranging from electronics to clothing. Experts warn of potential shifts in supply chains and increased costs at the checkout.
Former Lakers guard Ron Harper weighed in on the recent Luka Doncic trade, emphasizing the harsh realities of the NBA’s business side. Harper highlighted how player moves are driven by strategy over sentiment.
AI adoption is rapidly increasing in Los Angeles hospitals, enhancing diagnostics and patient care. Healthcare providers are investing heavily in AI technologies to improve efficiency and outcomes, reports the Los Angeles Business Journal.
Chinese firms showcased diverse products and explored new business opportunities at the Homelife Expo in Los Angeles, aiming to expand their presence in the U.S. market, Xinhua reported.
JPMorgan warns of a tariff-driven “stagflationary” slowdown in the US economy by 2025, citing rising costs and sluggish growth. The bank highlights risks of prolonged inflation paired with stagnant demand.
The LA Apple Store was looted amid anti-ICE protests, causing significant damage and theft. Authorities are investigating the incident as tensions rise over immigration enforcement policies. Coverage by Fox Business.
The American Economic Association announces the Call for Papers for the Los Angeles Annual Business Research Conference 2026. Scholars are invited to submit innovative research by the upcoming deadline.
California is losing movie and TV production to non-US rivals due to rising costs, tax incentives abroad, and streamlined regulations. Industry players are increasingly moving projects overseas to save on expenses, impacting local jobs.
The Washington Post reports that the Port of Los Angeles faces significant disruptions amid escalating U.S.-China trade tensions. As tariffs bite, cargo volumes decline, marking the port as an early casualty of Trump’s trade war.
Australia’s Kelly+Partners has won a prestigious award for rapid growth in the US market, highlighting its successful expansion and strong performance in a competitive landscape, according to Consultancy.com.au.
Stocks and bonds showed mixed reactions as the U.S. government faced a fresh credit rating downgrade. The dollar weakened, reflecting investor concerns about fiscal stability, according to the latest Los Angeles Times report.
Built In has unveiled its 2024 list of the “100 Best Places to Work in Los Angeles,” highlighting top companies known for exceptional culture, benefits, and innovation. The list showcases the city’s dynamic tech and creative sectors.