Vons owner Safeway has agreed to be acquired by an investment group led by Albertsons owner Cerberus Capital Management. Bloomberg BusinessWeek says the $8 billion deal is a bet that a larger supermarket chain can better fend off competition from big-box stores and online retailers.
Job creation ramped up somewhat in February, posting a better-than-expected gain of 175,000 despite expectations that weather would keep the count low. The unemployment rate edged higher to 6.7 percent, CNBC reports.
Los Angeles Times publisher Eddy Hartenstein has been named chairman of the new Tribune Publishing Co. the planned spinoff of eight newspapers that includes the Los Angeles Times and Chicago Tribune, the Times reports. Jack Griffin, who has been an advisor to Chicago-based Tribune Co., has been named chief executive of the newspaper group.
ArcLight Cinemas is hoping to enhance the moviegoer experience by developing free original content that will be screened in theaters and online, the Los Angeles Times reports.
Dorian Prentice Satoshi Nakamoto told the Associated Press that he is not the creator of bitcoin, adding further mystery to the story of how the world's most popular digital currency came to be.
After a century of developing Hollywood's pictures, Deluxe Laboratory will close its Hollywood shutters for good in May, The Wrap reports.
A FilmLA study says California now ranks fourth in the nation when it comes to feature film production, the San Fernando Valley Business Journal reports. Out of the 108 feature films looked at for the study, only 15 were made in the state.
Bloomberg BusinessWeek looks at whether California’s drought will finally warm hearts to a controversial plan by downtown L.A.'s Cadiz Inc. to tap an aquifer beneath 34,000 acres of the eastern Mojave.
Tesla's Model S sedan may be California's new eco-luxury status symbol, but when it comes to building a $5-billion battery factory that would employ 6,500 workers, the Palo Alto electric car maker is shunning the Golden State, the Los Angeles Times reports.
Pay-TV distributors and public interest groups cheered Thursday’s news that the Federal Communications Commission is considering new regulations for local television stations, the Los Angeles Times reports.
Bill Gross, the co-founder and co-chief investment officer of Pacific Investment Management Co., has accused former chief executive Mohamed El-Erian of seeking to undermine him by dishing dirt to the media, Reuters reports.
Twitter has officially banned pornographic content on Vine, its year-old social-video service, CNN reports.
Getty Images’ decision to let anyone with a website or social media presence freely embed photographs for non-commercial use was bound to rub its contributing photographers the wrong way, Bloomberg BusinessWeek reports.
In a scramble reminiscent of the 1990s Internet heyday, companies are going public at the fastest pace in years, hoping to take advantage of booming share prices and investor demand while they last, the Wall Street Journal reports.
In Friday morning trading, the Dow Jones industrial average was down 6 points to 16,416. The Nasdaq fell 30 points to 4,322. The S&P 500 fell 5 points to 1,872.