January 27, 2014 |
WASHINGTON - After legal action and months of lobbying, Internet and telecommunications companies won permission from the Obama administration Monday to disclose broad details about the data requests they have been secretly complying with under national security orders. The companies and civil liberties groups praised the new rules, but they still will not allow the companies to reveal exactly what information is collected or even precisely how much is turned over. In a letter to lawyers for Facebook, Google, LinkedIn, Microsoft and Yahoo, Deputy Atty.
January 26, 2014 |
Nothing seemed to underscore the revolving door between federal regulators and the companies they regulate as vividly as the two milestones marked on Jan. 17 at the National Highway Traffic Safety Administration. One was NHTSA's announcement that it was closing its contentious investigation of fuel tank fires in Chrysler Corp. SUVs, including its Jeep Grand Cherokees. The agency accepted the automaker's remedy of installing trailer hitches in more than 1.5 million vehicles to protect the tanks from rupture in rear-end collisions.
CALIFORNIA | LOCAL
January 24, 2014 |
Gun makers' objections to a California law that requires firearms to imprint a unique "microstamp" on bullet casings are "baloney" and "posturing," said Los Angeles City Atty. Mike Feuer, who introduced the legislation while serving in the state Assembly. Feuer's comments come as gun maker Smith & Wesson announced Thursday that it would stop selling newly designed semiautomatic pistols in California because it will not comply with the law, implemented in May 2013. The law requires some firearms to imprint a unique "microstamp" to help identify bullet casings.
January 22, 2014 |
From an office tower overlooking the sumptuous Fashion Island mall in Newport Beach, Mohamed El-Erian sat atop a massive treasure trove of wealth as chief executive of Pimco. Soft-spoken and cerebral, El-Erian presided over a financial juggernaut that rose to become one of the biggest and most influential investment firms in the world. His ubiquitous appearances on cable news shows could sway financial markets in a split second. On Tuesday, El-Erian unexpectedly announced his resignation as CEO. Pimco offered no explanation for the departure, sparking conjecture on Wall Street about whether the current challenges at the investment giant played a role.
January 21, 2014 |
Mohamed El-Erian unexpectedly resigned from his post as chief executive and co-chief investment officer of global investment management firm Pimco on Tuesday, the firm said in a statement. El-Erian will leave the firm in March and will remain a member of parent company Allianz's international executive committee. He will also serve as an advisor on global economic and policy issues. William H. Gross will continue to serve as chief investment officer, the firm said in a statement. "I have been extremely honored and fortunate to work alongside Bill Gross, who is one of the very best investors in the world," El-Erian said in a statement.
January 16, 2014 |
Solar installer SolarCity Corp. has figured out a way to tap retail investors willing to earn green by going green. The San Mateo company on Wednesday said it plans to offer a way to buy investment products similar to bonds. Instead of being backed by SolarCity, these securities would offer returns backed by solar projects and contracts the company has with customers who have panels installed on their roof. This is just one in a number of novel ways that solar power companies, many just start-ups, are finding ways to finance their businesses.
CALIFORNIA | LOCAL
January 15, 2014 |
The U.S. Environmental Protection Agency formally accused a South Los Angeles oil operation of putting the health and safety of nearby residents at risk by failing to maintain safe operations or take steps to prevent accidental releases of hazardous substances. In issuing citations to Allenco Energy Inc., the EPA said the company could be subject to fines or other measures as a result of several violations discovered during a Nov. 6 inspection of the facility. "These are troubling violations because they go to the heart of how a safe operation is supposed to be run," Jared Blumenfeld, EPA's regional administrator for the Pacific Southwest, said.
January 11, 2014 |
The U.S. Supreme Court could settle the fate of a new technology company that television broadcasters fear would destroy their business. On Friday, the high court said it would hear arguments that Aereo Inc., a start-up firm, violates copyright law by enabling its customers to stream local television stations over the Internet and that it should be shut down. The major media companies seeking the court's review include CBS Corp., 21st Century Fox, Walt Disney Co. and Comcast Corp. FACES TO WATCH 2014: Digital media Launched in 2012 and backed by media mogul Barry Diller, Aereo is currently available in 10 cities, including New York, where it is based.
January 10, 2014 |
Businesses have the tools and know-how to keep our personal information safe. They just don't do it. "It's expensive," said Nick Mancini, a partner at Tech Consultants, a Woodland Hills information technology firm. And that, in a nutshell, is why big companies that should know better routinely issue red-faced notices that they've been hacked and that customers' confidential info is on the loose. Target took it on the chin again Friday when it revealed that up to 110 million customers - not just the 40 million it originally reported - may have had their names, addresses, credit and debit card numbers and other information stolen.
January 9, 2014 |
A new study found that 16 major food companies have removed 78 daily calories per person from their products following a 2010 pledge by the firms to slash calorie counts. The Robert Wood Johnson Foundation, a Princeton, N.J.-based health philanthropy group, said the food companies sold 6.4 trillion fewer calories in 2012 than they did in 2007. The foundation worked out a pledge with the food companies -- including General Mills Inc., Campbell...