Los Angeles Business Journal

Jay Z Festival Coming to Grand Park Despite Concerns

Rapper Jay Z's Made in America music festival is coming to downtown's Grand Park on Labor Day despite concerns that the influx of thousands of people attending multiple stages with access to beer could create a "nightmare," the Los Angeles Times reports.

Office Tower Planned Next to WB Studio Site

Hudson Pacific Properties plans to build the 14-story Icon at Sunset Bronson Studios next to the 1920s landmark Hollywood building that was once executive headquarters of Warner Bros., the Los Angeles Times reports.

Wal-Mart Launching Money Transfer Service

Wal-Mart Stores said today it will partner with Ria Money Transfer to launch the Walmart-2-Walmart Money Transfer Service, a program that will allow customers to transfer money to and from more than 4,000 of its stores, CNBC reports.

L.A. Register Launches

The L.A. Register's debut on Wednesday reflects a belief by the owner of Freedom Communications that print can still sell well in the digital era, the Los Angeles Times reports.

BlackRock Earnings Climb

BlackRock Inc. said its first-quarter earnings jumped 20 percent as revenue jumped and investors poured money into its mutual funds, the Wall Street Journal reports.

Health Industry Wants Price Transparency

About two dozen health industry stakeholders, including lobbying groups for hospitals and health insurers, issued recommendations Wednesday on how to provide patients more information about the cost of health-care services, the Washington Post reports.

Retailer Puts a Lid on New Stores, Expands E-Commerce

Home Depot Inc. which has long excelled at the traditional retail model of growing by adding new locations, is making a hard turn toward the Internet in the face of changing shopper habits, the Wall Street Journal reports.

Price Hikes Could Make Chocolate ‘Like Champagne’

As cocoa prices surge to near-record highs on demand for emerging markets, chocoholics brace for a hike in price – and maybe even a different taste – as chocolate makers hunt out cheaper ingredients, CNBC reports.

L.A. Gas Prices Soar

Local gas prices have risen dramatically in recent days, and one industry expert believes they'll remain above $4 a gallon until September, the Los Angeles Daily News reports.

Union Concerned by Plans to Resume 'Midnight Rider'

The union representing Hollywood crew members has expressed dismay over plans to resume production of “Midnight Rider” in Los Angeles after a train accident in Georgia killed an assistant, the Los Angeles Times reports.

Publicist Leslie Sloane Exits BWR

Top Hollywood publicist Leslie Sloane, whose clients have included Katie Holmes, Blake Lively and Melissa McCarthy, has come to a mutual decision with BWR to part ways, the Wrap reports.

Markets Mixed

In Thursday morning trading, the Dow Jones industrial average fell 7 points to 16,418. The Nasdaq was up 11 points to 4,097. The S&P 500 rose 2 points to 1,865.

CBS' $67 Million Man

CBS Corp. Chief Executive Leslie Moonves' $66.9 million compensation in 2013 will make him the best-paid CEO in American media and put him among the world's highest-paid executives in any industry, the Hollywood Reporter says.

'Midnight Rider' Moves to L.A.

Production on the film "Midnight Rider" could resume in June and be relocated from Georgia to Los Angeles, the Hollywood Reporter says. Filming on the Gregg Allman biopic was suspended in February when camera assistant Sarah Jones was killed while shooting on a train track.

BofA Swings to Loss

Bank of America said it swung to a first-quarter loss as results were hurt by $6 billion in legal charges and slumping mortgage originations, the Wall Street Journal reports.