Wednesday morning headlines

Ho-hum, stocks are higher: Sooner or later, the climb is certain to end. Right? Dow is up about 70 points.

Employment gains in March: Private employers added 201,000 jobs, according to the ADP report, which was in line with expectations. The government's more comprehensive jobs report comes out Friday. (Reuters)

Layoff barrage is over: The 130,749 job cuts in the first quarter were the lowest since 1995 and a 28 percent drop from last year, according to Challenger, Gray & Christmas. (OC Register)

FDA chemist arrested for insider trading: Feds are accusing the man of trading drug companies' stock based on highly confidential FDA drug-approval information. The insider trading generated more than $3.6 million. (DJ)

Amgen drug fails in cancer study: The experimental drug motesanib did not improve overall survival of patients with advanced lung cancer. The Thousand Oaks-based biotech company, along with Takeda Pharmaceutical, reported more severe side effects than with older drugs. (Reuters)

Minkow agrees to plea deal: The former carpet-cleaning tycoon turned scamster will help prosecutors investigate a developer who allegedly hired Minkow to spread lies about home builder Lennar Corp. From the LAT:

In the plea agreement, obtained by The Times, Minkow acknowledges participating in a fraud with losses so huge that he could have been sentenced to more than 30 years in prison had he been convicted of the crime. Instead, he is to plead guilty in a Miami federal courthouse Wednesday to a single count of conspiracy to commit securities fraud, a crime with a maximum penalty of five years in prison.

Cabs from the airport to cost more: The surcharge paid by riders is increasing from $2.50 per trip to $4. The increase is the result of a new deal with a taxi firm previously accused of financial mismanagement (airport officials say the problems have been dealt with). From the Daily Breeze:

ATS has operated at LAX for more than 20 years, but complaints by cabdrivers prompted the City Controller's Office to investigate the company's practices. An audit released in January 2007 by then-City Controller Laura Chick found that the company dispensed cash to the managers of cab companies, but failed to document the reasons. The company also allegedly paid employees who were purportedly hurt on the job, but failed to file required reports with the state.

More traffic at LAX: Passenger count totaled 4.1 million in February, a 4 percent increase from a year earlier. Domestic was up 5.6 percent. (Daily Breeze)

Stadium proposal lacks guarantee: Anschutz Entertainment Group is providing no letter of credit or additional guarantee for $350 million of municipal bonds related to the development, Bloomberg reports. Without that assurance, taxpayers may be on the hook if stadium and convention-center proceeds to the city come up short.

Another sign of News Corp. regime change: Rupert Murdoch's son James is named deputy chief operating officer as well as chief executive and chairman of News Corp. International. Says the NYT: "The appointment is the most affirmative sign yet that Mr. Murdoch, 38, will succeed his father, Rupert, who turned 80 on March 11."