Today’s Top Business News – The Los Angeles Tribune
- The company is sourcing more of its toys earlier from various countries as it anticipates port congestion and ocean-capacity constraints in the second half of the year, executives said.
- The Justice Department had alleged the tie-up of insurance brokers would lead to higher prices and reduced innovation for U.S. businesses.
- The Silicon Valley electric-car company posted a profit of $1.1 billion, marking its eighth sequential quarter in the black.
- Foreigners bought $54.4 billion in U.S. residential real estate in the year ended in March, down 27% from the prior year, according to a report by the National Association of Realtors.
- The German company said it would invest some of the profits from the vaccine it markets with Pfizer into developing shots for malaria and tuberculosis in Africa.
- U.S. and Chinese officials sparred over Covid-19, human rights and cybersecurity in a tense exchange in the highest-level meetings between the two countries on Chinese soil since Joe Biden became president.
- The city and its mainstay convention industry are only slowly bouncing back, with leisure and hospitality employment still off by 50,000 jobs from prepandemic levels.
- The deal is expected to boost PerkinElmer’s existing revenue growth and profit margin profile, and add to adjusted earnings a share in the first full year after the closing.
- The country continued its crackdown on large technology companies by announcing a new six-month rectification program aimed at correcting a range of industry problems.
- NASA needs another way to get to the space station. Friday’s test comes after a failed 2019 attempt.