Los Angeles Business Journal

Insurance Merger

In a deal that combines two of the country’s largest insurers, Zurich’s ACE Ltd. is forking over $28.3 billion to buy Warren, New Jersey’s Chubb Corp., the Wall Street Journal reports.

Border Patrol Possibly Corrupt?

The Homeland Security Department is accusing the Border Patrol of corruption, thanks to the influence of drug cartels, smugglers and other law breakers, the Los Angeles Times reports.

Making Amends

In a startling move to restore diplomatic relations, the United States and Cuba have agreed to open embassies in each other's countries, the Los Angeles Times reports.

Musk Backs Artificial Intelligence Research

Billionaire Elon Musk is looking at the advantages and disadvantages of artificial intelligence as his Future of Life Institute has awarded about $7 million to teams around the world to research it, Bloomberg reports.

Job Numbers Up in June

The private sector last month added jobs at the fastest pace yet this year with 237,000 positions in June, which was above the 218,000 expected, according to payroll firm ADP, CNBC reports.

Turn Off the Lights

The heat is on, causing state officials to issue a Flex Alert. They are requesting Californians watch how much energy we use and to turn off unused lights and appliances and turn down air conditioning between 2 p.m. and 9 p.m. Wednesday, LAist reports.

Marilyn Monroe’s Grave Marker Auctioned for $200,000

Marilyn Monroe’s simple grave marker is one of the most recognizable anywhere; the movie star's crypt at Pierce Brothers Westwood Village Memorial Park Cemetery regularly draws lifelong fans. It’s not surprising then that her old marker was recently sold for more than $200,000, NBC Los Angeles reports. And no, a marker is still on her crypt. The one that was auctioned off was removed in the 1970s and replaced with a new one.

Stocks Up

The Dow Jones industrial average was up 126 points in early trading Wednesday to 17,746. The S&P 500 was up 14 points to 2,078. The Nasdaq was up 39 points to 5,026. The LABJ Stock Index was up two points to 233.

On the Way to IPO

Billionaire Patrick Soon-Shiong’s NantHealth is preparing to launch an initial public offering by the end of this year, and Chicago’s Allscripts Healthcare Solutions Inc. has announced it would pay $200 million for a 10 percent stake in firm, valuing it at $2 billion, the Los Angeles Times reports.

Winner Chosen for Convention Center Re-do

A decision has been made, and the Los Angeles City Council is expected Tuesday to award architectural firms Populous and HMC Architects with a contract to redesign the Los Angeles Convention Center, the Los Angeles Daily News reports. The firms’ winning bid includes a plan to add more than 300,000 square feet to the building.

L.A. Fault Line Deeper Than Thought?

A huge fault near Los Angeles is leaking helium, revealing that the Newport-Inglewood Fault Zone is deeper than initially thought, according to researchers, the Daily Mail reports.

Leap Second Coming Today to Confuse Computers

If you have any computer trouble later today, maybe you can blame it on the “leap second,” which is one second added to the official time, Sky News reports.

Living Without Water

If you thought living with the drought is a drag, consider some folks in California’s Central Valley who are striving to maintain a normal life with no water, Yahoo News reports.

Riverside Balks at Water Reduction Order

Riverside, which prides itself on being water independent, is preparing for a legal battle with state officials who are ordering the city to reduce water by 28 percent, the Los Angeles Times reports.

Fourth of July Travel Up

With lower prices at the pump, nearly 3 million Southern Californians are expected to travel for the Fourth of July holiday weekend, a 0.5 percent increase from last year, according to the Automobile Club of Southern California, the Los Angeles Times reports.