October 28, 2013 |
Nutritional products maker Herbalife Ltd. reported a nearly 27% jump in third-quarter profit amid double-digit sales growth in China and Latin America. The Los Angeles company reported net income of $142 million, or $1.32 a share, for the three months ended Sept. 30. That compares with $111.9 million, or 98 cents, a year earlier. Excluding expenses for non-recurring items, the company earned $1.41 a share, well above analysts' expectations of $1.14 a share. Sales grew 19.3% to $1.2 billion.
October 24, 2013 |
For the last several years, Swedish music company Epidemic Sound has been building a vast library of tracks for producers to use in soundtracks on television shows and online video, amassing 20,000 pieces from more than 100 composers. Now, the company is launching in the United States through a partnership with Maker Studios, which operates some of the biggest video channels on YouTube. “We really want to be the kings of background music," Epidemic Chief Executive Oscar Höglund said.
October 23, 2013 |
Near the height of the Afghanistan war, the Pentagon spent $297 million on a seven-story blimp-like aircraft - as long as a football field - that would hover over the war zone for weeks at a time, beaming back crucial intelligence. But as the military wound down its presence in the Middle East, plans for the unmanned floating spy center deflated. The aircraft fell behind schedule, became 12,000 pounds overweight and was ultimately canceled after just one test flight. Last month, the Pentagon quietly decided to sell back the sophisticated spyship to the British company that built it for $301,000 - a fraction of its investment.
CALIFORNIA | LOCAL
October 16, 2013 |
Hans Riegel, 90, a marketing executive who made German candy maker Haribo and its signature gummi bears a chewy hit across the globe, died Tuesday of heart failure in Bonn, the company announced. He had been recovering from an operation to remove a benign brain tumor. Riegel was the son of the company founder, also named Hans Riegel, who in 1920 set up Haribo - an acronym for "Hans Riegel Bonn. " In 1922, his father invented the "dancing bear," a small bear made out of fruit gum that laid the foundations for Haribo's later success with the "gold bear.
October 16, 2013 |
WASHINGTON — Leaders from the medical device industry listened when President Obama vowed in 2009 that there would be shared sacrifice and "no sacred cows" to help pay for his healthcare law. But unlike the pharmaceutical industry, insurers and others at that healthcare summit, the device makers never shook hands on a deal. Instead, after a 2.3% tax on their revenue was included in the 2010 Affordable Care Act, they started a drive to repeal it. Now, with Washington paralyzed in a government shutdown and a fight over the debt limit, the device makers have seized on the impasse as a chance for victory.
October 6, 2013 |
Activision Blizzard Inc. is one of the world's largest publishers of video games. The Santa Monica company produces games that are used on PlayStation 3, Wii, Xbox 360, personal computers, mobile phones and other hand-held devices. Two of its most popular games are the war-themed "Call of Duty," and "World of Warcraft," a role-playing game set in a fantasy world. It's a big business. In 2012, the company released "Call of Duty: Black Ops II," which set video game sales records with more than $1 billion of retail sales within 15 days of its launch, the company said.
October 4, 2013 |
Quick, what rhymes with "start-up?" Celebrity music artists, including rappers, have been finding new ways to invest their money, and Nas, born Nasir Jones, is no exception. After a six-figure investment in the lifestyle publication "Mass Appeal," the rapper has put money into a San Francisco company called Proven , which makes apps to help people apply to online job postings through their smartphones. Nas, who rose to fame with his smash 1994 album "Illmatic," participated in the company's $1-million seed funding round that was led by Andreessen Horowitz and closed this summer.
October 4, 2013 |
When the L.A. at Home crew heads to scout the WestEdge design show, one of our first stops will be to see TopBrewer, a minimalist stainless-steel tap that delivers freshly brewed coffee, espresso, cappuccino or hot chocolate. Hidden under-counter components grind beans, heat water, chill milk and then steam and foam it on demand - all under the direction of your phone or tablet. TopBrewer's manufacturer, Scanomat, is lined up as a WestEdge exhibitor, and the machine will be available after the show through the kitchen and bath showroom Snyder Diamond , which first flagged us about the technology this summer.
October 1, 2013 |
Merck & Co., the second-largest drug maker by sales, said Tuesday it will lay off 8,500 employees in a strategy overhaul to revamp its research and development efforts. That's on top of a previous announcement that the Whitehouse Station, N.J.-based company would lay off 7,500 workers. The combined cuts amount to 20% of the company's global workforce. In a statement, the drug company said the strategy is expected to save $2.5 billion by the end of 2015; 40% of those savings would be realized by the end of next year.
September 30, 2013 |
Seymour Cohen, known for his innovations in the movie theater marquee industry, has listed his retreat in Santa Ynez at $1.349 million. The 3,182-square-foot home, built in 1930, sits behind gates on 1.69 acres. Offered fully furnished, the three-bedroom, two-bathroom house features a great room with a beamed ceiling. Also on the equestrian-zoned property, which is dotted with mature oaks, are a furnished guest house, corral and spa. Distinctive L.A. homes draw vacationers In addition to developing an instant marquee process, Cohen invented preview boxes for upcoming attractions to be displayed in theater lobbies and holds several patents.