Initial Jobless Claims Fall
Fewer Americans are applying for unemployment benefits, according to the newest numbers out of the Labor Department on Thursday, USA Today reports. Initial jobless claims dropped by 23,000 last week as more signs point to a recovery in the American job market.
Sony Board to Discuss Third Point Plan
Struggling Japanese conglomerate Sony Corp. said its directors have started preliminary discussions on what to do about a proposal from activist hedge-fund investor Daniel Loeb to take part of the company's entertainment business public, The Wall Street Journal reports.
What’s Next for Pot Shops?
The overwhelming approval of Proposition D on Tuesday's ballot – and the rejection of two competing proposals – could result in the shutdown of hundreds of marijuana dispensaries in Los Angeles, the Los Angeles Daily News reports.
Garcetti's Victory Attributed to San Fernando Valley
City Controller Wendy Greuel's lackluster performance in the San Fernando Valley and with women voters in Tuesday's Los Angeles mayoral election, along with Councilman Eric Garcetti's strong backing from whites and Republicans in the city, were key factors in Garcetti's victory, the Los Angeles Daily News reports.
The Incredible Vanishing Subsidiary
Companies across industries are taking advantage of Securities and Exchange Commission rules that demand disclosure only when subsidiary operations are "significant," The Wall Street Journal reports. One result is that companies limit information about offshore operations, in particular units operating in countries regarded as tax havens.
AEG Exec Called Michael Jackson 'Freak' Before Signing
A top AEG executive referred to Michael Jackson as "a freak" and another called him "creepy" just hours before their company signed the pop icon to a huge concert deal, CNN reports.
‘The Hangover Part III’ Gets Early Start on Memorial Day Showdown
Warner Bros. kicked off what could be a record-breaking Memorial Day weekend, with “The Hangover Part III” launching Wednesday night, Variety reports. But the three-quel competes squarely against Universal’s Friday opener, “Fast and Furious 6,” which tracking suggests will win the weekend.
Tesla Repays a Big Federal Loan Early
The taxpayer no longer has to worry about Tesla Motors, The New York Times reports.
Cannes Crime Spree Continues
Following last week’s news of the high-profile, $1 million Chopard heist and the burglary of Zhang Qiang’s rented apartment, there are reports of new victims, according to the Hollywood Reporter.
Stocks Down Early
In Thursday morning trading, the Dow Jones industrial average fell 60 points to 15,247. The Nasdaq was down 16 points to 3,448. The S&P 500 fell 12 points to 1,644.
Garcetti Beats Greuel
City Councilman Eric Garcetti's relentless campaigning paid off Tuesday as he decisively won a hard-fought race to become Los Angeles' next mayor, the Los Angeles Times and Los Angeles Daily News report.
Prop. D in the Lead
One of three ballot measures that seek to regulate the number of pot dispensaries in the city of Los Angeles was leading early Wednesday, the Los Angeles Times and Los Angeles Daily News report. Propostion D would reduce the number of pot shops from about 700 to 130 by allowing only those that opened before adoption of a failed 2007 city moratorium on new dispensaries.
Trutanich Ousted as L.A. City Attorney
Challenger and former Assemblyman Mike Feuer has denied L.A. City Attorney. Carmen Trutanich another term, the Los Angeles Times and Los Angeles Daily News report.
IRS Tea-Party Bloodbath Continues in Congress
The U.K.'s Daily Mail takes a look at the House committee’s hearing on targeting of conservative groups by the Internal Revenue Service, noting that at least on this issue both sides of the aisle are castigating the IRS for targeting groups with special scrutiny, and then hiding the practice from Congress.
Immigration Bill Advances
A Senate committee on Tuesday approved a sweeping immigration reform bill that provides a path to citizenship for up to 11 million illegal immigrants. The full Senate may possibly consider the landmark legislation next month, the Washington Post reports.
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