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Top News & Analysis California

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  • Charles Schumer says Binghamton University has been chosen to receive $20 million in federal funding to participate in a $100 million initiative to develop high-tech electronic and computer devices. The New York Democrat announces Friday that the Department of Defense has designated the university as one of the institutions nationwide that will...

  • Pentagon funding new high-tech venture Friday, 28 Aug 2015 | 6:02 AM ET

    MOUNTAIN VIEW, Calif.— Defense Secretary Ash Carter announced Friday that the Pentagon is funding a new venture to develop cutting-edge electronics and sensors that can flex and stretch and could be built into clothing or the skins of ships and aircraft. He told the Silicon Valley leaders that he is "here to engage. Under the new plan, the Pentagon will provide $75...

  • It will also remain instantly recognizable with its blue-and-gold Goodyear logo emblazoned across the side. But that's OK, too, because from the ground it won't look much different from Goodyear's Spirit of America, which was deflated and disassembled earlier this month after a farewell flight across California. It's a semi-rigid dirigible, " Goodyear's...

  • WASHINGTON/ BEIJING, Aug 28- The chairman of China's Tsinghua Unigroup travelled to the United States this week to meet with board members of Micron Technology and try to revive a politically fraught takeover bid of the U.S. chipmaker, people familiar with the matter said. Senator Charles Schumer of New York called on the inter-agency Committee on Foreign...

  • LOS ANGELES, Aug 27- McDonald's Corp and Tyson Foods both severed ties on Thursday with a Tennessee farm where workers were seen stabbing, clubbing and stomping on chickens in an undercover video shot by animal rights activists. The videotape, which was unveiled by Mercy For Animals at a news conference in Los Angeles, depicts gruesome animal cruelty toward the...

  • "The NLRB's actions today will subject employers to increased uncertainty, liability for workplaces that they don't actually control, and ramped up pressure tactics to ease union organizing," said Glenn Spencer, a vice president at the U.S. Chamber of Commerce. Business groups have said such a ruling, which came in the case of waste management company...

  • SACRAMENTO, Calif.— Democratic lawmakers advanced a package of tobacco regulation bills on Thursday, reviving proposals that earlier stalled in the Legislature amid opposition from tobacco companies. The measures approved by the Senate do not include a pending proposal to raise California's cigarette tax by $2 per pack from the current 87 cents.

  • Amgen wins approval for second biotech cholesterol drug Thursday, 27 Aug 2015 | 5:18 PM ET

    WASHINGTON— Amgen Inc. has won federal approval for the second medicine in a new class of pricey biotech drugs that reduce artery-clogging cholesterol more than older statin drugs that have been used for decades. Thousand Oaks, California- based Amgen priced the drug slightly below a similar drug Praluent, which costs $14,600 per year. Sanofi and partner...

  • Collectors Universe posts 4Q profit Thursday, 27 Aug 2015 | 4:57 PM ET

    SANTA ANA, Calif. _ Collectors Universe Inc. on Thursday reported fiscal fourth-quarter net income of $1.8 million. The Santa Ana, California- based company said it had profit of 21 cents per share. Collectors Universe shares have fallen 11 percent since the beginning of the year.

  • Gap to end on-call scheduling Thursday, 27 Aug 2015 | 4:51 PM ET

    ALBANY, N.Y.— Gap Inc. is ending its practice of requiring workers to remain on-call for short-notice shifts following an inquiry from New York's attorney general. A spokeswoman for the San Francisco- based retailer said Thursday the decision also applies to Gap's other brands, including Banana Republic, Old Navy and Athleta and was part of an effort to "improve...

  • Veeva tops Street 2Q forecasts Thursday, 27 Aug 2015 | 4:45 PM ET

    PLEASANTON, Calif. _ Veeva Systems Inc. on Thursday reported fiscal second-quarter profit of $13.4 million. For the current quarter ending in November, Veeva expects its per-share earnings to range from 11 cents to 12 cents. Veeva expects full-year earnings in the range of 47 cents to 48 cents per share, with revenue ranging from $395 million to $398 million.

  • Bebe reports 4Q loss Thursday, 27 Aug 2015 | 4:39 PM ET

    BRISBANE, Calif. _ Bebe Stores Inc. on Thursday reported a loss of $5.2 million in its fiscal fourth quarter. On a per-share basis, the Brisbane, California- based company said it had a loss of 7 cents. For the year, the company reported that its loss narrowed to $27.7 million, or 35 cents per share.

  • OmniVision beats Street 1Q forecasts Thursday, 27 Aug 2015 | 4:27 PM ET

    SANTA CLARA, Calif. _ OmniVision Technologies Inc. on Thursday reported fiscal first-quarter profit of $18.2 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. Five analysts surveyed by Zacks expected $326.2 million.

  • Splunk reports 2Q loss Thursday, 27 Aug 2015 | 4:27 PM ET

    SAN FRANCISCO _ Splunk Inc. on Thursday reported a loss of $55.3 million in its fiscal second quarter. Sixteen analysts surveyed by Zacks expected $140.5 million. For the current quarter ending in November, Splunk said it expects revenue in the range of $158 million to $160 million.

  • Autodesk reports 2Q loss Thursday, 27 Aug 2015 | 4:13 PM ET

    SAN RAFAEL, Calif. _ Autodesk Inc. on Thursday reported a fiscal second-quarter loss of $235.5 million, after reporting a profit in the same period a year earlier. Seven analysts surveyed by Zacks expected $613.1 million. For the current quarter ending in November, Autodesk expects its per-share earnings to range from 5 cents to 10 cents.

  • Aug 27- The billionaire chief executive of Dole Food Co and his top lieutenant must pay $148.2 million of damages to shareholders they shortchanged when the produce company went private in 2013, a Delaware judge ruled on Thursday. In a decision that may cast a pall on management-led buyouts, Vice Chancellor Travis Laster said Dole Chief Executive David...

  • SAN FRANCISCO— A new report estimates Apple shipped 3.6 million watches in the last quarter— more than some analysts have estimated and enough to change the competitive landscape for fitness bands and other wearable gadgets. Apple shipped enough units of its new smartwatch to nearly overtake market leader FitBit in the last quarter, according to analysts at...

  • Business groups have said such a ruling, which came in the case of California waste management company Browning-Ferris Industries Inc, would discourage franchising and the use of staffing agencies and subcontractors, potentially killing jobs. It may also force franchisers such as McDonald's Corp to reconsider the way they do business.

  • Aug 27- Companies can be held liable for labor violations committed by franchisees and contractors even when they have only indirect control over working conditions, the National Labor Relations Board ruled on Thursday in a closely-watched case that business groups say could harm successful business models. The board in a 3-2 decision that will likely be...

  • SAN FRANCISCO, Aug 27- Apple Inc on Thursday invited journalists to a Sept. 9 event, where it is expected to unveil new iPhones and potentially a new version of its Apple TV set-top box. Cross Research analyst Shannon Cross said she was also expecting a faster processor on iPhones. When users posed the question in the invitation to Siri on their iPhones, Siri threw...