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Top News & Analysis California

  • ROSEMEAD, Calif. _ Edison International on Tuesday reported fourth-quarter net income of $376 million, after reporting a loss in the same period a year earlier. Edison International expects full-year earnings in the range of $4.04 to $4.24 per share. Edison International shares have climbed slightly more than 7 percent since the beginning of the year, while...

  • The scandal led to the departure of former Chairman and Chief Executive Officer John Stumpf last October, who along with another executive forfeited tens of millions of dollars in compensation. The most recent firings include Claudia Russ Anderson, former chief risk officer for the Wells Fargo branch banking unit where the sales problems occurred.

  • LOS ANGELES, Feb 21- A third of U.S. adults are eating out less frequently than three months ago, mostly because of cost, according to a new Reuters/Ipsos survey that illustrates the challenge for U.S. restaurants seeking to revive traffic after zero growth in 2016.. Annual traffic to U.S. restaurants has been flat or up just 1 percent since 2009, when there was a 2...

  • Claudia Russ Anderson, former chief risk officer for the Wells Fargo branch banking unit where the sales problems occurred, was among those fired. She chose to take a personal leave from the bank in September, bank spokeswoman Mary Eshet said. The others fired by the bank were Pamela Conboy, Arizona lead regional president; Shelley Freeman, former Los Angeles...

  • American announced early Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina. United followed suit later in the day, posting reduced fares on some flights from Minneapolis to seven of its hub cities including New York, Chicago and Los...

  • A man watches a television showing news reports of Kim Jong-Nam, the half-brother of North Korean leader Kim Jong-Un, in Seoul on February 14, 2017.

    Here are some of the key stories CNBC is following this hour.

  • NEW YORK— Wells Fargo's board of directors said it is firing four senior managers as part of its investigation into the bank's sales practices scandal. The board said Tuesday the four are Claudia Anderson, the former community bank chief risk officer, Pamela Conboy, the lead regional president in Arizona, Shelly Freeman, the former regional president in Los...

  • *Q4 adj profit $2.02/ shr vs est $1.96/ shr. Macy's is in the midst of a turnaround engineered by Chairman and Chief Executive Terry Lundgren, closing underperforming stores and separating its real estate assets from its retail business to better monetize its physical stores. The company said on Tuesday it sold its men's clothing store in San Francisco's Union...

  • *Q4 adj profit $2.02/ shr vs est $1.96/ shr. Macy's said on Tuesday it sold its Union Square Men's store building in San Francisco for $250 million. Canadian retailer and Saks Fifth Avenue owner Hudson's Bay Co had made a takeover approach for Macy's, Reuters reported this month.

  • Macy's said on Tuesday it sold its Union Square Men's store building in San Francisco for $250 million. The owner of the Macy's and Bloomingdale's chains said net income attributable to its shareholders fell to $475 million, or $1.54 per share, in the fourth quarter ended Jan. 28, from $544 million, or $1.73 per share, a year earlier. Excluding items, the company...

  • NEW YORK— Yahoo is taking a $350 million hit on its previously announced $4.8 billion sale to Verizon in a concession for security lapses that exposed personal information stored in more than 1 billion Yahoo user accounts. The revised agreement, announced Tuesday, eases investor worries that Verizon Communications Inc. would demand a discount of at least $1...

  • CALABASAS, Calif. _ Ixia on Tuesday reported fourth-quarter profit of $5.4 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share. Ixia shares have risen 21 percent since the beginning of the year.

  • *Toshiba urged by banks to sell majority of chip unit- sources. TOKYO, Feb 21- Japan's Toshiba Corp wants to raise at least 1 trillion yen by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said. The beleaguered conglomerate was pressured to abandon an initial...

  • *Toshiba urged by banks to sell majority of chip unit- sources. TOKYO, Feb 21- Japan's Toshiba Corp wants to raise at least 1 trillion yen by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said. The beleaguered conglomerate's decision to abandon an initial plan...

  • Joe Ready, head of Wells Fargo's institutional retirement plan business, for example, told trustees of the city of San Diego's defined contribution plan that participants' $1 billion in assets were walled off from other parts of Wells Fargo. San Diego pension officials declined to comment for this story. Wells Fargo declined to make Ready available and said it...

  • Milo Yiannopoulos

    Video in which the Breitbart News editor condoned sexual relations with boys seemed to be more than conference organizers could tolerate.

  • The news organizations said in a court filing there was "no adequate justification" for the FBI to continue to withhold information on the cost of the tool or the identity of the vendor that sold it. They said their requests were narrowly tailored and, contrary to the arguments of the FBI and Justice Department, did not seek information that would jeopardize...

  • CEO and co-founder of Snapchat Evan Spiegel

    Snap, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday.

  • *One-hour London roadshow impresses investors. LONDON, Feb 20- Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance. The U.S. company, which has yet to...

  • *One-hour London roadshow impresses investors. LONDON, Feb 20- Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance. The U.S. company, which has yet to...