News: Stocks boom – and Dow 20,000 is back

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Thursday, February 9, 2017

Stocks boom – and Dow 20,000 is back

Banks and other financial companies are leading U.S. stock indexes into record territory in midday trading Thursday. Investors are poring over earnings from Kellogg, Viacom and other companies. Energy stocks are also up as the price of crude oil heads higher. Utilities and real estate are lagging the market.

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Russian hackers get burned in deal with Russia’s spy agency

TALLINN, Estonia – For several years a group of Russian hackers have been posting letters and documents stolen from senior Russian officials with impunity. And then the nation’s spy agency tracked them down and offered them a deal.

A member of the Shaltai Boltai (Humpty Dumpty) group told The Associated Press on Thursday that the hackers accepted the offer from the Federal Security Service, or FSB, the top KGB successor agency: show their spoils before publishing in exchange for protection.

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Tommy Hilfiger leans on model Gigi Hadid for new collection

LOS ANGELES – The thick fog hanging over Venice Beach did little to disrupt Tommy Hilfiger’s carnival-esque runway show co-created by and featuring supermodel Gigi Hadid.

Hadid helped pick out the models, the music and the clothes for the TommyXGigi collection – and she walked the beachside runway first and last Wednesday, cheered by her family and Lady Gaga along the way.

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Twitter has Trump, but not the profits Wall Street wants

Twitter may be the megaphone for the leader of the free world, but the company’s headline omnipresence has yet to turn into a long sought after pot of gold for co-founder Jack Dorsey.

In the near term at least, it appears that is the way it will remain.

A lean profit outlook sent shares of Twitter Inc.

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Wet Seal apparel stores begin sell-off following bankruptcy filing

Everything must go.

Wet Seal, which filed for bankruptcy protection last week, is selling everything from clothes to accessories to furniture and equipment as the Irvine-based retailer gets ready to close its stores and website.

Boston-based Gordon Bros. and Chicago-based Hilco Merchant Resources, hired to close out the business, said in a statement that store closures have begun at 137 locations.

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$1 million health study ‘shortchanges’ Porter Ranch gas leak victims, critics say

The Southern California Gas Co. has agreed to pay $8.5 million, including $1 million for an independent health study, to settle a lawsuit filed by air quality regulators last year over the disastrous natural gas leak at the company’s Aliso Canyon storage facility, officials said Wednesday.

The announcement drew sharp criticism from county health officials, local residents and politicians, who argued $1 million was hardly enough to examine the range of health problems area residents have experienced since one of 115 aged wells at the underground facility began spewing tons of methane into the atmosphere for more than three months in October 2015.

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More than 1,500 assemble in Burbank as Ikea opens its biggest US store

Overcast skies and a morning chill did not dampen the spirits of eager furniture shoppers who lined up Wednesday morning in Burbank to be the first inside the largest Ikea in the country.

At 456,000 square feet, the new hub is the Swedish retailer’s biggest Ikea store in the United States, and it stocks 10,000 items, officials said.

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Average asking rents rise 5 percent in LA to $1,775 a month

Rents ticked up across Southern California in the fourth quarter of 2016 as limited vacancies kept demand high, according to property data firm Reis Inc.

In all, 2016 marked the sixth straight year of steady rent hikes in the region, reports by Reis and others show. Apartment rents are up 15 to 25 percent since 2011.

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