July 6, 2011 |
The House began debate Wednesday on a $650-billion spending bill to fund the Pentagon and continue paying for the wars in Iraq and Afghanistan. The measure would boost the Pentagon's budget by $17 billion for fiscal year 2012 at a time when Congress and the White House are in heated negotiations over the deficit and reining in federal spending. It is the only spending bill to move through the Republican-controlled House that would increase funding over 2011 levels. Any House-passed bill is unlikely to become law: The Democratic-controlled Senate still must pass its version, then negotiate with House leaders on a bill they can send to the White House.
July 3, 2011 |
Question: I am worried about my Sony Corp. stock. Do you see any kind of upturn ahead? Answer: This is a trying time for the consumer electronics and entertainment giant. Among its woes are the slow economy, a campaign of cyber attacks on the company's online video game service, and supply disruptions caused by Japan's earthquake and tsunami. Longer-term, Sony must adapt quickly and effectively to shifting trends. If it can't, it won't be able to command premium prices, despite its premium-brand reputation.
CALIFORNIA | LOCAL
June 25, 2011 |
Despite the city's ongoing fiscal woes, police officers in Los Angeles will receive a considerable pay raise in coming years, according to a tentative contract agreement reached Friday. The proposed three-year contract calls for the roughly 9,900 rank-and-file officers to forgo a pay increase in the fiscal year that begins Friday and receive incremental pay hikes over the next two years, according to a summary obtained by The Times. At the start of the second year, officers' pay would rise 1% and then jump 2% midway through the year.
June 19, 2011 |
Question: As a longtime shareholder of H.J. Heinz Co., I would like to know if I should continue to hold it. Answer: The impetus for this global company's growth is expected to be a developing taste in emerging markets for Heinz baby food, ketchup and other packaged foods. The Pittsburgh company — which also makes sauces, frozen food, soups, beans and pasta meals — has made significant sales gains in Brazil, Russia and Indonesia, and expects more than 20% of sales in the current fiscal year to come from emerging economies.
June 1, 2011 |
More popular movies helped boost Lions Gate Entertainment Corp.'s revenue in the fiscal year that ended March 31, but higher costs caused its net loss to more than double. The Santa Monica film and television studio reported revenue of $1.8 billion, up 6% from the previous fiscal year, and a net loss of $53.6 million. The revenue was in line with an estimate the company issued this month, while the net loss came in lower than expected. The studio's motion picture group had the biggest boost, with revenue up 10% to $1.23 billion thanks to a slate with more big-budgeted releases, including the action hit "The Expendables" and the low-budget horror success "The Last Exorcism" as well as flops such as the romantic comedy "Killers" and the Russell Crowe drama "The Next Three Days.
May 27, 2011 |
Declining home entertainment revenue and the box-office failure of the costly comedy "How Do You Know" drove Sony Pictures' revenue down 8% in the recently ended fiscal year. However, improvements in the studio's television business kept operating income roughly flat. Mixed news for Sony Pictures came amid other bad news for Japanese parent company Sony Corp., which had to take a huge charge tied to the Japan earthquake in the fiscal year that ended March 31 and will be hurt in its current year by the hacking-induced shutdown of its online networks.
May 24, 2011 |
Financially speaking, the effects of the hacker attack on Sony Corp. cost the Japanese media conglomerate nearly as much as initial damage from the country's devastating earthquake and tsunami. The consumer electronics giant estimated Monday that it will have spent $171.7 million this year to repair the damages wreaked by hackers who infiltrated its computers and accessed account information of hundreds of millions of consumers who used its PlayStation Network and Qriocity online services.
April 26, 2011 |
Battered by declining sales of its Wii video game console, Nintendo Co. announced it would introduce a new, ultra-powerful console in 2012. The announcement came as Nintendo posted double-digit declines in sales and profit for its fiscal year ended March 31. The Japanese game company said Monday that its revenue slumped 29% last year to just more than 1 trillion yen, or roughly $12.4 billion. Profit slid 66% to 77.6 billion yen, or $948 million. The results were much lower than Nintendo had forecast: Last May it said it expected sales of 1.4 trillion yen and net income of 200 billion yen. Losses due to the strong yen, which meant sales outside Japan converted to fewer yen, accounted for $604 million of Nintendo's annual loss.
CALIFORNIA | LOCAL
April 21, 2011 |
Los Angeles Mayor Antonio Villaraigosa unveiled a $6.9-billion budget Wednesday that, despite lethargic tax revenues amid a struggling economy, expands an array of city services. The proposal for the 2011-12 fiscal year calls for eliminating a $457-million shortfall while increasing pothole repairs by 20%, restoring one day of library service cut last year and putting an end to rotating staff reductions at the Fire Department. Those changes would occur as the city continues hiring enough officers to maintain existing staffing levels at the Los Angeles Police Department, according to the plan.