Los Angeles Business Journal

Farmers with Ancient Rights Facing Water Cuts

State-mandated water restrictions may, for the first time, impact California farmers who have rights to water dating back as far as the Gold Rush, the Associated Press reports.

Hotel Indigo Headed Downtown

The hip Hotel Indigo is coming to downtown Los Angeles as part of the $1 billion Metropolis development a few blocks from the Los Angeles Convention Center, the Los Angeles Times reports.

Viacom Investors Ponder Future

Viacom Inc. Chairman Sumner Redstone’s faltering health has some questioning the future of CBS Corp. and Viacom since the 91-year-old is the controlling shareholder of both companies, the Los Angeles Times reports.

Money Well Spent?

After spending more than $6 million on three seats in the race for the Los Angeles Unified school board, not much has changed. The teachers union and groups in favor of charter schools each successfully elected challengers while losing incumbents they wanted to re-elect, the Los Angeles Daily News reports.

Six Workers Injured

A downtown Los Angeles construction site turned hazardous late Wednesday after the second floor of a building collapsed, injuring six workers who were pouring concrete there, the Los Angeles Daily News reports.

Stones Play Small Hollywood Venue

Some fans got a treat Wednesday night when the Rolling Stones stopped by the Fonda Theatre in Hollywood for a performance to kick off the band’s North American tour, the Los Angeles Daily News reports.

Lumber Liquidators’ CEO Quits

More problems for Lumber Liquidators as its Chief Executive Robert Lynch has suddenly resigned in the wake of dozens of lawsuits that have been filed against the company over the safety of some of its laminate flooring, CNBC reports.

Five Banks Charged

As part of an investigation into the manipulation of currency markets, the Justice Department has announced a $5.7-billion settlement that includes rare criminal charges against five banks, including Citigroup Inc. and JPMorgan Chase and Co., the Los Angeles Times reports.

Back to the Drawing Board

Now that the city of Carson has spent about $100,000 trying unsuccessfully to woo foreign investors to set up local businesses, the City Council voted Tuesday to cancel the contract of a consultant, the Daily Breeze reports.

Woes over WiFi?

Watch out for WiFi as some now claim it’s making people sick, and they don’t even know it, CBS New York reports.

Mark Cuban Speaks

What’s the next big thing, according to Mark Cuban, the billionaire owner of the Dallas Mavericks? Health-care technologies, CNBC reports.

Holiday Travel Up

Headed out of town this weekend? Join the club. The AAA is expecting the largest jump in travel over the Memorial Day weekend since 2010, the San Gabriel Valley Tribune reports.

Letterman’s Last Hurrah

After spending 33 years of late nights on TV, David Letterman bid adieu Wednesday night, going out in his usual cool fashion, Variety reports.

Stocks Up

The Dow Jones industrial average was up 14 points in early trading Thursday to 18,299. The S&P 500 was up three points to 2,129. The Nasdaq was up five points to 5,081. The LABJ Stock Index was flat at 234.

Outsider Ryu Beats Ramsay

In a surprise win, outsider David Ryu defeated Carolyn Ramsay to take Councilman Tom LaBonge's seat, making Ryu the first Korean American to hold a City Council seat in Los Angeles, NBC Los Angeles reports. Ramsay was favored by business groups.