Los Angeles Business Journal

´The Martian´ Not Enough for 21st Century Fox

Rupert Murdoch´s 21st Century Fox reported disappointing earnings Monday. According to the Los Angeles Times, the L.A. based film unit was a big drag; “The Martian” and “The Peanuts Movie” fell short of rescuing the quarter.

Warner Music Group Invests in Artist Partners

Warner Music Group has stepped up its investment in Artist Partners Group, a Los Angeles-based venture that provides business services to artists and producers. The Los Angeles Times reports that Warner Music and Atlantic are investing "multiple millions" of dollars in the venture.

DMV Grants 605,000 Licenses to Undocumented

Over 600,000 illegal immigrants who live in California were granted driver's licenses in 2015, AFP reports. Under a new law, the California Department of Motor Vehicles expects a total of about 1.4 million people will get their license by the end of next year.

The Show Goes On

Despite an ongoing controversy over diversity, Oscar rituals will proceed as usual, the New York Times reports. At a luncheon for Oscar nominees Monday, Cheryl Boone Isaacs, president of the Academy of Motion Picture Arts and Sciences, did not discuss additional steps to broaden the group’s membership and choices.

Free Burritos at Chipotle

Chipotle Mexican Grill Inc. is spending $10 million on food-safety — and it is offering free burritos. The company closed all of its 1,971 U.S. stores for part of Monday so employees could attend a national team meeting, after recent food-borne illnesses sickened customers.

Miley Cyrus Buys Retreat in Malibu

Miley Cyrus has bought a house in Malibu for $2.53 million, the Los Angeles Times reports. The contemporary two-story house has four-bedrooms and three-bathrooms and sits on two-plus-acres.

Stocks Mixed

The Dow Jones industrial average was down 26 points in early trading Tuesday to 16,001. The S&P 500 was down 2 points to 1,852. The Nasdaq was up 11 points to 4,294. The LABJ Stock Index was up slightly to 204.

SoCalGas’ Relocation ‘Painfully Frustrating’

Residents of the Porter Ranch area say their stress has been magnified by confusion and misinformation about reimbursements, disorganization, and bureaucracy on the part of SoCalGas, the Los Angeles Daily News reports. Since a gas leak was discovered at a well in October, SoCalGas has placed more than 6,000 households in temporary housing.

Bullet Train Back in Court

The proposed California high-speed rail is back in the spotlight. Some residents have filed a lawsuit against the state, saying it can't keep the promises made to voters in 2008 about travel times and system cost, the AP reports.

What to Watch in Disney’s Earnings

Despite Walt Disney Co.´s blockbuster success with “Star Wars,” investors are worried about subscriber losses at its cable networks, MarketWatch reports. The company on Tuesday is expected to report earnings of $1.45 a share for the first quarter, a 14 percent increase, but may not be enough to reverse a 10 percent stock slide so far this year.

´Kung Fu Panda´ Stays Atop Box Office

"Kung Fu Panda 3" fended off the Coen brothers' "Hail, Caesar!" to stay on top at the box office this weekend, Box Office Mojo reports. The movie grossed an estimated $21 million during its second weekend in theaters.

Stocks Down

The Dow Jones industrial average was down 211 points in early trading Monday to 16,205. The S&P 500 was down 35 points to 1,880. The Nasdaq was down 146 points to 4,363. The LABJ Stock Index was down 6 points to 208.

Hope for Porter Ranch?

A state official said Thursday that the damaged well spewing natural gas near Porter Ranch could be capped by the end of next week, according to the Los Angeles Times. A senior advisor to Gov. Jerry Brown said that the relief well that is being drilled was tentatively expected to intercept the leaking well as early as Monday.

SoCal Gas Scraps Relocation Plan

A controversial plan by SoCal Gas has been thrown out. The plan would have given displaced residents only 48 hours to return home once the Porter Ranch gas leak, which has been spewing gas since October, is contained.

Dauman’s Viacom Appointment Sparks Uncertainty

The appointment of Philippe Dauman as chairman of Viacom Inc. has exposed a boardroom rift that could cause uncertainty for Nickelodeon, MTV and Paramount Pictures. The lone vote against Dauman came from Sumner Redstone's daughter, Shari Redstone.