A Los Angeles County Superior Court has dealt a major blow to efforts to spur larger development in parts of Hollywood, ruling that a zoning plan for the area was "fatally flawed" and should be repealed, the Los Angeles Times reports.
Hilton Worldwide Holdings Inc., the world's largest hotel group, has raised $2.35 billion in its return to Wall Street, surpassing the $2.1 billion generated by Twitter's IPO last month, the Associated Press reports. Shares continued to climb this morning, Bloomberg News reports.
Nearly 365,000 people have signed up for Obamacare in its first two months, and the pace of sign-ups accelerated in November, CNN/Money reports.
Sriracha hot sauce manufacturer Huy Fong Foods cannot ship out any more sauce until mid-January because the California Department of Public Health has begun enforcing stricter guidelines for the company, the Los Angeles Times reports.
The number of Americans filing new claims for unemployment benefits rose sharply last week, reversing the prior three weeks declines, but Reuters says another report ¬ that U.S. retail sales rose solidly in November ¬ clouds the impact of those numbers.
About 1.2 million Californians have exhausted all of their unemployment benefits, and the state Employment Development Department says another wave is fast approaching, the Los Angeles Daily News reports.
Entrepreneur David Sacks and Rising Realty have bought three century-old buildings in Old Pasadena and plan to transform them into a hub for tech start-ups, the Los Angeles Times reports.
Rehab veterans who came under scrutiny for their questionable care practices at an A-list Hollywood Hills addiction treatment center, are looking to raise $500,000 for a "sober club with restaurant, games, music & fun," the Hollywood Reporter says.
The Sheraton Gateway Los Angeles Hotel, a 15-story inn next to Los Angeles International Airport, has been sold for $96 million to a Chinese real estate developer, the Los Angeles Times reports.
PepsiCo is to announce on Thursday that it is unseating Coca-Cola as the beverage supplier to one of the nation’s hottest restaurant chains, Buffalo Wild Wings, the New York Times reports.
JPMorgan Chase is expected to pay more than $1 billion to the Justice Department to end a probe into whether it provided adequate warnings about Bernard L. Madoff, the Wall Street Journal reports.
The Hollywood Reporter interviews media mogul Oprah Winfrey as part of its 2013 Women in Entertainment Power 100 event.
In Thursday morning trading, the Dow Jones industrial average was down 61 points to 15,782. The Nasdaq rose 6 points to 4,010. The S&P 500 fell 2 points to 1,780.
U.S. regulators have taken a major step toward reining in high-risk trading on Wall Street by putting restrictions on trading by big banks for their own profit, the Associated Press reports. The New York Times describes the process that put the brakes on those trades.
A bipartisan budget deal announced in the U.S. Congress would end three years of impasse and fiscal instability in Washington if it breaks through Conservative opposition over added spending, Reuters reports.