L.A. Times - Business

Icahn launches bid for control of Yahoo

Thu, 15 May 2008 13:50:00 -0700

The billionaire has asked 12 people whether they would be willing to serve if asked, sources say. But is Microsoft still interested in a deal?

Saying Yahoo Inc.'s board "completely botched" takeover talks with Microsoft Corp. , billionaire investor Carl Icahn today launched a bid for control of the Internet giant by nominating a slate to unseat the board of directors.

CBS agrees to buy CNET for $1.8 billion

Thu, 15 May 2008 05:59:00 -0700

The purchase will vault CBS into the top 10 Internet companies in the United States.

CBS Corp ., playing the white knight in a Web-publishing proxy fight, this morning said it agreed to buy CNET Networks Inc ., the Internet news and entertainment company, for $11.50 per share, or about $1.8-billion in cash.

News Corp. unit cleared of piracy in DISH suit

Thu, 15 May 2008 11:47:00 -0700

SANTA ANA -- A federal court jury today broadly cleared News Corp.'s NDS unit of satellite television piracy charges in a suit brought by DISH Network that could have been worth more than $1 billion.

United Airlines Accidentally Drops $130 Fuel Surcharge

Thu, 15 May 2008 13:46:00 -0700

UAL Corp.'s United Airlines said it accidentally dropped fuel surcharges of as much $130 round trip on all of its domestic routes around midday today.

Countrywide executives, directors must defend shareholder suit

Thu, 15 May 2008 11:48:00 -0700

Countrywide Financial Corp. directors and executives must defend a federal suit by shareholders claiming they engaged in insider trading and failed to halt policies that caused the mortgage lender's value to collapse.

Judge tosses most of J & J lawsuit against Red Cross

Thu, 15 May 2008 00:09:00 -0700

NEW YORK -- A federal judge has tossed out most of a lawsuit in which the health-products maker Johnson & Johnson claimed that the American Red Cross broke the law by licensing its famous red and white symbol to other companies.

Factories weak in early May, job market soft

Thu, 15 May 2008 09:14:00 -0700

NEW YORK -- The U.S. factory sector started the month on a weak note after declining in April, according to data released today, while the number of workers stuck on jobless rolls hit a four-year high.

Actors don't want to lose grip on Web clips

Thu, 15 May 2008 00:00:00 -0700

Control over images is at stake as studios seek new Web revenue.

Few things are more precious to actors than control over their images.

SEC accuses Broadcom co-founders of fraud

Thu, 15 May 2008 00:00:00 -0700

The agency says in a civil complaint that Henry Nicholas and Henry Samueli backdated stock options. Samueli steps down as chairman amid allegations.

Seeking the best and brightest during the tech boom, Broadcom Corp. founders Henry T. Nicholas III and Henry Samueli tossed out millions of stock options to attract and reward favored employees, whose Porsches and Lamborghinis gleamed in the parking lot as they worked late into the night.

Americans' money worries are growing, L.A. Times/Bloomberg poll finds

Thu, 15 May 2008 00:00:00 -0700

For the first time since 1993, the percentage of people who say their finances are very or fairly secure falls below 60%, the survey shows.

Donald Fleckenstein lives comfortably in retirement, but higher food and energy costs still prompted him to trade down from a big American car to a small Honda, to cancel plans for a European vacation and to worry more about how the next generations of his family will fare.