Economy

Jerome Powell gave a highly anticipated speech today about monetary policy. President Trump apparently wanted him to announce that he would slash interest rates.

from Press Play with Madeleine Brand

David Koch, one of the wealthiest men on the planet and an influential libertarian political force, has died at age 79.

from Press Play with Madeleine Brand

This week, hundreds of CEOs from major U.S. corporations signed a    statement    that says maximizing shareholder profits will no longer be their companies' primary goal.

America's biggest corporations pledge to put workers ahead of shareholders

This week, hundreds of CEOs from major U.S. corporations signed a statement that says maximizing shareholder profits will no longer be their companies' primary goal.

from Press Play with Madeleine Brand

President Trump has promised to keep guns away from people who suffer mental illness.

The NRA in turmoil: financial scandals, power struggle at the top

President Trump has promised to keep guns away from people who suffer mental illness.

from Press Play with Madeleine Brand

The stock market has spent the last 10 years going up and up. But today was the worst day of the year on Wall Street.

Stocks tumbled today. Are we heading toward a recession?

The stock market has spent the last 10 years going up and up. But today was the worst day of the year on Wall Street.

from Press Play with Madeleine Brand

Last year, State Senator Scott Wiener's effort to extend bar hours to 4 am was blocked by former Governor Jerry Brown, who said it would add "two more hours of mischief and mayhem for…

Will LA bars be able to stay open until 4 am?

Last year, State Senator Scott Wiener's effort to extend bar hours to 4 am was blocked by former Governor Jerry Brown, who said it would add "two more hours of mischief and mayhem for…

from Greater LA

California’s relentless clean-air enforcer, Mary Nichols, has divided the automobile industry.   

After weeks of secret negotiations, the Chair of the State’s Air Resources Board has announced that Ford, Honda VW and BMW of America won’t go along with President Trump’s rollback of Barack Obama’s fuel-economy standards. 

Nichols claims it’s an “olive branch,” giving car makers the “flexibility” to clean up the air at the same time they continue to market vehicles that make the most money. Brady Dennis of the Washington Post calls it a “big deal,” even if Toyota, GM and 11 other companies revert to Trump’s new federal standards--at least for the moment. 

Alan Baum is a consultant for both the industry and environmental organizations.  He says the four who made the deal with California have a slight lead on their competitors  in developing the technology of the future, with China currently far ahead of them all.  He says the western car makers are doing a poor job of educating consumers about the benefits of hybrids and electrics.

Nichols’s history with the Air Resources Board goes back to the 1970’s.  She was named Chair by Republican Governor Arnold Schwartenegger and reappointed by Democrats Jerry Brown and Gavin Newsom.  

She made an international name for herself for years ago when she blew the whistle on Volkswagen for faking emissions tests on the diesel cars it sold for decades all over the world.

California v. Trump on auto emissions

California’s relentless clean-air enforcer, Mary Nichols, has divided the automobile industry. After weeks of secret negotiations, the Chair of the State’s Air Resources Board has announced that Ford, Honda VW and BMW of America won’t go along with President Trump’s rollback of Barack Obama’s fuel-economy standards. Nichols claims it’s an “olive branch,” giving car makers the “flexibility” to clean up the air at the same time they continue to market vehicles that make the most money. Brady Dennis of the Washington Post calls it a “big deal,” even if Toyota, GM and 11 other companies revert to Trump’s new federal standards--at least for the moment. Alan Baum is a consultant for both the industry and environmental organizations. He says the four who made the deal with California have a slight lead on their competitors in developing the technology of the future, with China currently far ahead of them all. He says the western car makers are doing a poor job of educating consumers about the benefits of hybrids and electrics. Nichols’s history with the Air Resources Board goes back to the 1970’s. She was named Chair by Republican Governor Arnold Schwartenegger and reappointed by Democrats Jerry Brown and Gavin Newsom. She made an international name for herself for years ago when she blew the whistle on Volkswagen for faking emissions tests on the diesel cars it sold for decades all over the world.

from To the Point

Banana Republic is the latest fashion retailer to sell hijabs.

Is Banana Republic making a political statement by selling stylish hijabs?

Banana Republic is the latest fashion retailer to sell hijabs.

from Press Play with Madeleine Brand

Nick Montgomery says when it came time to decide whether his Echo Park restaurant would accept cash, it was a tough call.   
  “This is a small space,” he says of    Konbi   , a…

Why LA restaurants aren't accepting cash payments

Nick Montgomery says when it came time to decide whether his Echo Park restaurant would accept cash, it was a tough call.  “This is a small space,” he says of Konbi , a…

from Greater LA

As more businesses become cashless and paperless, consumers are increasingly relying on credit and debit cards. Americans are swimming in credit card debt.

The downside of going plastic: racking up debt

As more businesses become cashless and paperless, consumers are increasingly relying on credit and debit cards. Americans are swimming in credit card debt.

from Greater LA

Last week Equifax agreed to pay as much as $700 million to consumers. It was their penance for exposing the data of 147 million people to hackers in 2017.

Consumers to get smaller-than-expected payout for Equifax breach

Last week Equifax agreed to pay as much as $700 million to consumers. It was their penance for exposing the data of 147 million people to hackers in 2017.

from Press Play with Madeleine Brand

Mayor Eric Garcetti is halfway through his second and final term in office, but that hasn’t stopped one of the city’s biggest unions from releasing new ads attacking him.

Union workers attack Garcetti on homelessness, Green New Deal

Mayor Eric Garcetti is halfway through his second and final term in office, but that hasn’t stopped one of the city’s biggest unions from releasing new ads attacking him.

from Greater LA

The House and Senate are looking into Facebook’s plan to launch a currency called Libra. Neither side of the political aisle trusts Facebook, believing it's too big.

Can Facebook launch its cryptocurrency without support of lawmakers?

The House and Senate are looking into Facebook’s plan to launch a currency called Libra. Neither side of the political aisle trusts Facebook, believing it's too big.

from Press Play with Madeleine Brand

Amazon says it’s going to spend $700 million to retrain a third of its U.S. workforce for new jobs, and in some cases, jobs that Amazon doesn't even offer.

Amazon to spend big money on voluntary workforce retraining

Amazon says it’s going to spend $700 million to retrain a third of its U.S. workforce for new jobs, and in some cases, jobs that Amazon doesn't even offer.

from Press Play with Madeleine Brand

Close to 50,000 grocery workers across southern California may go on strike this week if union negotiations with four major supermarket chains aren't resolved.

Grocery employees say their wages and benefits aren’t keeping up with the economy

Close to 50,000 grocery workers across southern California may go on strike this week if union negotiations with four major supermarket chains aren't resolved.

from Greater LA

It would cost $416 billion to build enough seawalls to protect American cities against rising sea levels. That's according to a new    report    by the Center for Climate Integrity.

More than $400 billion needed to build seawalls to protect U.S. cities

It would cost $416 billion to build enough seawalls to protect American cities against rising sea levels. That's according to a new report by the Center for Climate Integrity.

from Press Play with Madeleine Brand

At a time when the United States is enjoying the lowest unemployment rate in a half century, California's Imperial Valley still suffers from a shortage of good jobs.

This California city has the nation's worst job market: 'I'm applying everywhere'

At a time when the United States is enjoying the lowest unemployment rate in a half century, California's Imperial Valley still suffers from a shortage of good jobs.

from NPR

The California Supreme Court’s Dynamex decision created a new test for what kind of work qualifies someone as an employee in the state.

Will Uber and Lyft be able to exempt drivers from full employment protections?

The California Supreme Court’s Dynamex decision created a new test for what kind of work qualifies someone as an employee in the state.

from Press Play with Madeleine Brand

California’s gas tax increased by 5.6 cents a gallon, which is part of an incremental increase of the tax that voters approved a few years back.

Another increase today: Gas tax

California’s gas tax increased by 5.6 cents a gallon, which is part of an incremental increase of the tax that voters approved a few years back.

from Greater LA

It’s July, which means LA’s minimum wage is going up again, for the third year in a row.

As the minimum wage goes up, some small businesses downsize

It’s July, which means LA’s minimum wage is going up again, for the third year in a row.

from Greater LA