Los Angeles Business Journal

Regulators Seek to Hold Ports to Targets

The South Coast Air Quality Management District wants to hold the ports of Los Angeles and Long Beach responsible for earlier pledges to cut pollution from the thousands of trucks, ships and trains carrying goods to and from the nation's largest port complex, the Los Angeles Times reports.

Former Bell Official Gets Prison Term for Tax Fraud

Robert Rizzo, the former city administrator who ruled the city of Bell during an era of widespread corruption, was sentenced Monday to 33 months behind bars for tax fraud, the Los Angeles Times reports.

Woman Sentenced in Medical Fraud Case

Susanna Artsruni of Midvalley Medical Supply in Van Nuys, who pleaded guilty of submitting nearly $25 million in bogus bills to Medicare, was sentenced Monday to six years in federal prison and ordered to pay nearly $10 million restitution, the Los Angeles Daily News reports.

Yellen: Mega-Banks Might Need to Hold More Capital

Federal Reserve Chairwoman Janet Yellen said today that the largest U.S. banks might need to hold additional capital to withstand periods of financial stress, the Associated Press reports.

Oprah Exec Named Science Channel General Manager

Science Channel has named Rita Mullin, an 18-year Discovery Communications veteran who has been executive vice president of programming and development at Oprah Winfrey Network, as its new general manager, the Wrap reports.

Markets Slip

In Tuesday morning trading, the Dow Jones industrial average was down 5 points to16,168. The Nasdaq fell 28 points, or 1 percent, to 3,993. The S&P 500 fell 1 point to 1,830.

Relativity Media Bids for Maker Studios

Midsize film and entertainment company Relativity Media has made a bid to buy Maker Studios, the online-video producer that is preparing to vote this week on a separate bid from Walt Disney Co., the Wall Street Journal reports.

New L.A. Newspaper Launches This Week

Freedom Communications’ Los Angeles Register, a new daily newspaper, will debut Wednesday in the Orange County Register parent's latest expansion in Southern California, the Register reports.

TIAA-CREF to Buy Nuveen Investments

TIAA-CREF has agreed to buy Nuveen Investments for $6.25 billion including debt, in the retirement- and financial-services behemoth's largest acquisition ever, the Wall Street Journal reports.

Tesla, Sinopec May Build Charging Stations in China

Tesla Motor Inc.'s Chief Executive Elon Musk reportedly is visiting China this month for talks with one of China's largest refiners to build charging units in its nationwide service-station network, MarketWatch reports.

Musk Seeks End to Spy Satellite Monopoly

The Los Angeles Times looks at efforts by SpaceX's Elon Musk to break the controversial grip of Boeing and Lockheed Martin on launches of the U.S. government's most sophisticated national security satellites.

Downtown's Former May Co. Building Set for Revival

A huge former department store on Broadway in downtown Los Angeles is being sold to a New York real estate investment firm that intends to pump new life into the old building and its rebounding neighborhood, the Los Angeles Times reports.

Waxman Concerned About Times' Fate in Spinoff

Rep. Henry A. Waxman said media experts he consulted have serious concerns about the fate of the Los Angeles Times under the Tribune Co.'s plans to spin off the newspaper into a separate unit, and he called on executives to change the terms, the Los Angeles Times reports.

Chances of Getting Audited by IRS Lowest in Years

Budget cuts and new responsibilities are straining the Internal Revenue Service's ability to police tax returns, the Associated Press reports. This year, the IRS will have fewer agents auditing returns than at any time since at least the 1980s.

Ellison: Still No. 1 and Doing What He Wants

Most of us spend much of our lives thinking that we should do the right thing. Larry Ellison, the fifth-richest person in the world and the chief executive with the highest total compensation in 2013, appears burdened by no such concerns, the New York Times reports.