Los Angeles Clippers co-owner Donald Sterling lost his legal fight with estranged wife Shelly on Monday when a probate judge ruled that she had the right to sell the team for $2 billion to former Microsoft chief Steve Ballmer. Donald Sterling, however, has filed other related lawsuits that are still active, the Los Angeles Times said.
Time Warner Cable has agreed to binding arbitration as a means to resolve its dispute with DirectTV and other television companies over the price to carry SportsNet LA, the only local channel showing Los Angeles Dodgers games, the Los Angeles Times reported.
A city labor panel ruled Los Angeles Mayor Eric Garcetti’s attempt to save an estimated $4 billion over the next 30 years through such steps as raising recently hired city workers’ retirement age to 65 is invalid because the new rules were made without negotiations with unions, the Los Angeles Daily News reported.
Pornography mogul Larry Flynt is selling his original Sunset Boulevard Hustler store, which may be converted into a hotel by its future owners, Bloomberg reported.
The newly-announced merger between discount chains Dollar General and Family Dollar is part of American retailers’ competition to win business from consumers who are living paycheck to paycheck, the Wall Street Journal said.
Federal officials say Medicare can be expected to have enough money to cover beneficiaries’ hospital bills through 2030 under current law, but Social Security’s disability insurance fund is in danger of being short on money in the near term, according to the Wall Street Journal.
Paramount Pictures’“Transformers: Age of Extinction,” earned $317 million on Chinese screens, becoming the first movie to top $300 million in that nation, the Hollywood Reporter said.
Investment banks have earned around $1 billion in fees over the last three years while advising companies on how they can lower their tax bills by moving overseas in a controversial practiced referred to as an inversion, the New York Times said.
Representatives of two nongovernmental organizations have asked the Federal Trade Commission to investigate whether social networking company Facebook is violating a privacy agreement by monitoring its users’ online activities beyond the company’s own website, according to Bloomberg.
OkCupid, a top U.S. matchmaking website, intentionally mismatched users to test its technology, the service said on Monday, weeks after Facebook admitted to misleading users in a psychological study, CNBC reported.
The Dow Jones industrial average was up 1 point in Tuesday morning trading to 16,984. The S&P 500 was down 2 points to 1,977. The Nasdaq was up 7 points to 4,452.
Shareholders of the Pleasanton-based Safeway gave their approval to a $9.2 billion sale of their company to Albertsons. The deal must still pass regulatory approval and may lead to further closures of Southern California grocery stores, the Contra Costa Times reported. Safeway owns Vons and Pavilions stores.
San Fernando Valley Congressman Tony Cardenas is leading a group of lawmakers calling upon the FCC to mediate a deal between Time Warner Cable and other cable companies that have thus far been unable reach an agreement on televising Los Angeles Dodgers games shown on Time Warner’s new SportsNet LA channel, the Los Angeles Times reported.
A newly announced merger between Seattle’s Zillow Inc. and San Francisco’s Trulia will combine the nation’s two largest websites for real estate listings. Zillow will pay $3.5 billion worth of stock to buy its competitor in a deal that is expected to close next year, the Los Angeles Times said.
Discount store chains Dollar Tree and Family Dollar are poised to become a single company. The Chesapeake, Va.-based Dollar Tree will pay some $8.5 billion in cash and stock to buy Charlotte, N.C.’s Family Dollar, according to USA Today.