Economy

Financial and business news

Updated at 9:32 p.m. ET

The U.S. Securities and Exchange Commission is suing Tesla CEO Elon Musk, alleging securities fraud a month after he announced that he planned to take the publicly traded electric-car company private.

"Musk's false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla's stock and resulting harm to investors," the lawsuit says.

The central event of Monsters and Men is clearly based on the 2014 slaying of Eric Garner by NYPD officers on Staten Island, although writer-director Reinaldo Marcus Green has altered both the location and the cause of death. Yet the killing of loose-cigarette peddler Big D (Samel Edwards) takes place literally in the background. This evocative drama is most concerned about the aftermath, viewed from three different angles.

Like many in the stand-up world, Nina Geld (Mary Elizabeth Winstead), a comedian whom we meet working the edgier comedy clubs of New York City, is angry. When she's not riffing on menstrual blood and other female troubles nobody else wants to talk about, her potty-mouthed monologues are studded with the case against men, which earns her appreciative laughs from young audiences both male and female. Nina is poised, articulate, funny and unsparing — none of which prevents her from throwing up after every performance.

Let's get the cheap lazy jokes out of the way at the top:

It's Catch Me if You Can on Geritol.

It's The Great Train Robbery (Seniors Discount Fare).

It's The (All-You-Can Eat) Italian (Pasta-Buffet) Job. Okay. Enough.

What writer/director David Lowery's The Old Man & the Gun actually turns out to be, of course, is exactly what it looks like: a defiantly unhurried and genially old-fashioned cops-and-robbers yarn, built around a wry, wistful central performance from Robert Redford.

Companies buy back their stock from shareholders when they have excess cash lying around, and they want to hand some of it over to the owners. And they've been doing it a lot more recently: companies are on track to spend more than a trillion dollars on buybacks this year. Today on the Indicator, dueling opinions on buybacks. One economist says they're a way to get cash to companies that need it; another argues they're a brake on the economy.

Music: "Break Me"

Earlier this month, British pianist James Rhodes received a notification from Facebook. A short video he had recorded and uploaded of himself playing a passage of Bach's Partita No. 1 had been flagged by Facebook's copyright identification system as belonging to Sony Music, resulting in 47 of the video's 71 seconds being muted.

"Stop being a**holes," Rhodes tweeted in response.

Uber is paying $148 million to settle claims over the ride-hailing company's cover-up of a data breach in 2016, when hackers stole personal information of some 25 million customers and drivers in the U.S.

Since Amazon announced Tuesday that sportscasters Hannah Storm and Andrea Kremer would become the first all-women team to call NFL games, the pair has faced public backlash.

The chairman of the Australian Broadcasting Corporation has stepped down amid allegations that he ordered the firing of journalists deemed too critical of the government.

Justin Milne resigned his post as the head of the independent, government-funded network after "his board turned against him and staff threatened to walk off the job," The Sydney Morning Herald reports.

You can add Robert Rodriguez to a growing list of Angelenos living right on the brink of homelessness. Rodriguez shares his story, talking softly, as he leans on his walker outside his old apartment. He was evicted the day before.

"Everything is gone," he says. "It's all in storage."

Why So Many Brands Are Rebranding

Sep 26, 2018

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Dunkin' Donuts, purveyor of, well, donuts and other confections typically ingested in far too much haste, is dropping Donuts from its name starting in January. The company says it's making the move to become better friends with its customers.

"After 68 years of America running on Dunkin', we're moving to a first-name basis. Excited to be #BFFstatus with you all," the company announced in a heavy emoji-laden tweet on Tuesday.

President Trump recently slapped tariffs on another $200 billion worth of Chinese goods. The aim is to level the playing field with China on trade. U.S. administrations have been trying to do this for decades, often preferring a multilateral approach. Trump's trade war is simply an attempt to reach the same goal using a different means. The problem with trade wars is that they're unpredictable, and they inflict pain on everyone involved.

Changing Rules On Refugees

Sep 26, 2018

Last week, Secretary of State Mike Pompeo announced that the Trump administration would limit refugee resettlement admissions to 30,000 people in the coming year. This represents the lowest refugee ceiling since the 1980s and about a third less than the 45,000 admitted last year.

Updated at 3:30 p.m. ET

The Federal Reserve announced another quarter-percentage-point increase in interest rates Wednesday as expected, citing a strong labor market and economy.

The Fed raised the benchmark borrowing rate to a range of 2 percent to 2.25 percent, the third hike this year.

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