Headlines From The Times

The Federal Communications Commission approved Paramount’s request to allow foreign investors to take a substantial stake in the $110 billion takeover of Warner Bros. Three Middle Eastern sovereign wealth funds from Saudi Arabia, Qatar and Abu Dhabi plan to invest a combined $24 billion. Collectively, the funds would hold 38.5% of the combined company’s equity, while the Ellison family and RedBird Capital would retain 100% of the voting shares. The FCC approval comes despite concerns raised by Democratic lawmakers and FCC Commissioner Anna Gomez about potential foreign influence over major U.S. media properties including CBS and CNN. The deal still faces an antitrust lawsuit brought by California Attorney General Rob Bonta and 11 other Democratic attorneys general. A federal antitrust trial is currently scheduled for March 2, 2027, if the case is not resolved through settlement talks. Meanwhile, a federal investigation into Gavin Newsom’s travel expenses is expanding, and the California governor is pushing back. Investigators have issued subpoenas for records from a nonprofit that has helped pay for Newsom’s official travel through private donations to places including China, Mexico, the Vatican, and the 2020 Super Bowl. Newsom says the investigation is politically motivated, calling it “Trump retribution,” and is accusing the administration of weaponizing the Justice Department. And, both of LA’s football teams are hoping to bounce back after disappointing Week 1 losses. Two important matchups are ahead: The Chargers face the Raiders after a 26-14 loss to the Cardinals, while the Rams are back in the US for Monday Night Football against the Giants following their 27-7 loss to the 49ers in Australia. Read more at https://www.latimes.com

For the first time since 1995, three American men — Ben Shelton, Frances Tiafoe, and Alex Michelsen — have reached the US Open quarterfinals. It feels like a milestone moment for American tennis. Now they're chasing history: no American man has won on home soil since Andy Roddick in 2003. On the women's side, Jessica Pegula, Emma Navarro, and 2023 champion Coco Gauff make up the most US women's quarterfinalists since 2017. Meanwhile, the Rams and 49ers are set to make history in the NFL's first-ever regular-season game in Australia. The matchup at the Melbourne Cricket Ground features a Super Bowl-style atmosphere, Sean McVay's unique travel strategy, the Rams' "guinea pig" travel experiment, and the possibility of Aaron Donald making his return after coming out of retirement. Here's everything you need to know before kickoff. And, fast-food workers in Los Angeles could soon have more control over when and how they work. The City Council is weighing a proposal that would require restaurants to give workers more notice regarding scheduling, and would also give workers paid training on labor rights. Supporters say this could make a huge difference for workers to plan for child care, medical appointments, and other responsibilities. But the restaurant industry says it could raise costs for businesses. Read more at https://www.latimes.com

A new one-dollar coin featuring President Trump's portrait is making headlines after the U.S. Mint put sleeves up for sale this week to celebrate the country's 250th birthday. The "heads" side shows Trump's portrait with "liberty" above it and the years 1776–2026, while the reverse features the Seal of the United States. Federal law generally bans living presidents from appearing on U.S. currency, but there's an exception for certain commemorative coins with Treasury Secretary approval. It's also not completely unprecedented: Calvin Coolidge appeared on a $1 coin 100 years ago while still in office. Meanwhile, California’s rules allowing transgender athletes to compete in school sports will remain in place after a federal judge tossed a Trump administration lawsuit. The Justice Department argued that allowing trans girls to compete on girls teams would be a violation of Title IX, but Judge Cynthia Valenzuela ruled that Title IX does not clearly require California to impose a ban. The Justice Department says it’s considering an appeal. And, K-Pop supergroup BTS took over SOFI Stadium this week, kicking off 4 sold-out shows on its world tour. This is the first LA show since the members completed their mandatory military service in South Korea. Read more at https://www.latimes.com

Gloria Steinem, the author and activist who helped revolutionize the feminist movement, died Wednesday at her home in New York City. She was 92. For more than half a century, Steinem fought for abortion rights, equal pay, and same-sex marriage, calling herself an "entrepreneur of social change." From her groundbreaking undercover exposé on the Playboy Club to becoming one of the most recognizable voices of the women's liberation movement, Steinem's life and legacy reshaped how the world sees gender, work, and power. We look back at her extraordinary story. Meanwhile, the NBA is handing down massive penalties against the Clippers that could devastate the team for years to come. After finding the team violated salary cap rules involving Kawhi Leonard, the league is issuing the Clippers a $30 million fine, stripping them of five first-round draft picks, suspending owner Steve Ballmer for a year, and fining Leonard $700,000. The Clippers deny the findings and say they’ll challenge the penalties. And, Jordan Chiles is coming back to elite gymnastics and gearing up for the 2028 Olympics in LA. The Olympic gold medalist announced her return in a video narrated by NBA legend Michael Jordan, who asked, “Why again?” Chiles says it’s because “the dream is still there.” She helped Team USA win gold at the Paris Olympics, and plans to split her time training for LA28 while also returning to UCLA as a student coach. Read more at https://www.latimes.com

A new Marsh survey finds employers expect health benefit costs to rise about 8% next year — the biggest increase in more than two decades. Employers are already eyeing ways to shift more costs onto workers. That's on top of a separate Aon report showing employees paid nearly 10% more in out-of-pocket care in 2026 than the year before, an increase of roughly $2,100. Meanwhile, Tiger Woods is Avoiding a DUI conviction after reaching a plea deal. He pleaded guilty to reckless driving and will lose his driver’s license for five years, pay at least $1,500 in fines, complete 50 hours of community service, and cover damages from the crash. The golfer was originally charged with DUI after a rollover crash in March. The Los Angeles Angels are set for a change in ownership, and it could mark the start of a new era. Rams owner Stan Kroenke has agreed to buy the team from Arte Moreno in a record $4 billion deal, ousting the Angels owner after 20+ years. With the team’s playoff drought stretching back to 2014, fans are hopeful that Kroenke’s record of investing in Southern California sports will pay off. The deal still needs MLB approval. Read more at https://www.latimes.com

The U.S. Open is a big money maker for New York City. A consulting group working with the USTA says the tournament brings in about $1.2 billion a year, fueled largely by tourism, with over a million visitors attending last year alone. Restaurants, hotels, and bars all get a major boost, and businesses respond by hiring. The US Open creates an estimated 7,000 seasonal jobs each year, with many going to residents near the Billie Jean King National Tennis Center in Queens. Also, UCLA is shaking up its athletic department just as football season begins. Martin Jarmond is out as athletic director after more than six years on the job, where he oversaw the move from the Pac-12 to the Big Ten. Longtime Lakers executive and UCLA alum Tim Harris will be taking his place. Officials blame financial challenges and a rapidly changing college sports landscape for the move. Read more at https://www.latimes.com

In his first major speech as Fed Chair, Kevin Warsh told the Fed's annual Jackson Hole conference that inflation — currently at 3.7%, above the Fed's 2% target — remains a top concern, and warned the central bank will act if prices don't ease. Warsh didn’t offer “forward guidance” on interest rates, signaling he wants a quieter Fed that lets economic data drive policy instead of public commentary. The Fed's next rate decision comes in mid-September. Meanwhile, USC and UCLA are launching new degree programs focused on artificial intelligence in an effort to keep up with a fast-changing job market. USC is introducing its first undergraduate AI degree, where students will learn to build AI systems for fields like robotics, drug discovery, and agriculture. UCLA is taking a different approach. The university is introducing a new Digital Humanities department that combines AI with subjects like history, sociology, and the arts. Both schools are emphasizing ethics and tools to spot bias, misinformation, and errors. And, Blake Lively has been awarded about $407,000 in attorneys’ fees and court costs following the dismissal of Justin Baldoni’s defamation lawsuit against her. Lively had asked for more than $8 million, but a federal judge found the hours billed by her attorneys were unreasonable and opted to award her a much smaller amount. It could be the final chapter in the high-profile legal battle between the two “It Ends With Us” stars. Read more at https://www.latimes.com

NYC Mayor Zohran Mamdani has tapped a fifteen member Business Advisory Council with executives from real estate, retail, dining, sports, and healthcare. But missing from the council are executives from the city's largest financial employers, like BlackRock and JPMorgan Chase. There's been tension between Mamdani's democratic socialist platform and a skeptical business community, including his public clash with Citadel's Ken Griffin over a proposed pied-à-terre tax. Meanwhile, newly released police records reveal additional details surrounding the arrest of San Francisco 49ers owner Jed York in an Ohio prostitution sting. Investigators say York responded to an undercover online ad, agreed to pay $160, and was arrested after arriving at a meeting location. York later pleaded no contest to misdemeanor charges of engaging in prostitution and disorderly conduct. And, the NFL is officially retiring the Pro Bowl game after more than 70 years. While the annual exhibition is coming to an end, 88 players will still earn Pro Bowl honors and be recognized at a new celebration in Los Angeles featuring flag football events. Read more at https://www.latimes.com

Meta has agreed to pay up to $16.7 billion to settle claims from California and other states that its platforms harmed the mental health of young users. The tech giant denies wrongdoing, but will roll out new daily usage limits and other measures on Facebook and Instagram. California alone could collect up to $2.1 billion. LeBron James took out a nearly $300 million loan in 2018, right before joining the Los Angeles Lakers. The previously unreported deal involved companies advised by Guggenheim Partners, which was led by Mark Walter at the time. Walter later became the Lakers’ controlling owner. One of Hollywood’s most distinctive and versatile actors has died. Tim Curry, known for his unforgettable performances including Dr. Frank-N-Furter in The Rocky Horror Picture Show and Pennywise the Clown in IT, passed away on Wednesday at 80. His cause of death has not been released. Read more at https://www.latimes.com

Bitcoin had been sliding for months, down 31% over the past year. Then last week, everything changed. News out of Washington sent the crypto surging back above $77,000, jumping 20% in just a few days. Treasury Secretary Scott Bessent's plan to double long-term government bond buybacks pushed bond yields lower and pressured the dollar — and a weaker dollar sent investors hunting for alternatives, like Bitcoin. A growing number of California’s richest residents are looking overseas as political unrest in the US mounts – not necessarily to leave, but because they want to have a Plan B. Through these so-called “golden visas,” people are seeking residency, and in some cases citizenship, in other countries by investing in property or businesses abroad. Read more about the growing practice here: https://www.latimes.com/california/story/2026-08-13/more-more-wealthy-californians-are-seeking-golden-visa-residency-outside-u-s

The world's largest retailer, Walmart, just reported its worst sales growth in more than six years. Last quarter, the Arkansas-based company saw its store sales rise just 2.6 percent. This comes as overall retail spending dropped in July, and according to the University of Michigan, consumer sentiment fell about 8% this August. Meanwhile, Disneyland is finally giving Tomorrowland the major makeover fans have been asking for. Disney announced at D23 that the iconic land will be reimagined with new attractions, more open spaces, and a renewed focus on Walt Disney's original vision for the future. While the project is still in its early stages, it marks one of the biggest planned changes to Disneyland in decades. And, from horseback riding in Burbank to tacos in Los Feliz, arcade games in Pasadena and dancing at Club Tee Gee, Love Island USA host Ariana Madix is sharing her ideal Sunday around Los Angeles. Fresh off filming the latest season in Fiji, the Emmy-winning host says she's enjoying being back home and soaking up everything L.A. has to offer. Read more at https://www.latimes.com

The U.S. national debt hit a record high this week, topping $40 trillion. That’s double what it was in 2016 at the start of President Trump's first term. Most of that spending is going toward rising military costs, programs like Social Security and Medicare, and Trump's tax cuts. The war in Iran has already cost the U.S. more than $34 billion, according to the Center for Strategic and International Studies. And, as NFL season approaches, CBS is moving forward with its coverage while Tony Romo remains on leave following his arrest. There’s no timetable yet for his return. In the meantime, CBS Sports President David Berson says three-time NFL Defensive Player of the Year J.J. Watt will join Jim Nantz and Tracy Wolfson as the network’s lead broadcast team. Romo was arrested in July on suspicion of impaired driving and is scheduled to appear in court on September 21. Meanwhile, several coaches at El Camino Real Charter High School have been placed on administrative leave while the school investigates allegations surrounding CPR and first-aid certification. The L.A. Times reports certification cards used by some coaches could not be verified in a Red Cross database. Parents say some were escorted off campus, including a longtime baseball coach. This comes just weeks after the Woodland Hills school replaced its executive director and assistant principal overseeing athletics. Read more at https://www.latimes.com

A record number of kindergartners are starting school this year, without required vaccinations, with new federal data showing that exemption rates are hitting an all-time high for the fourth year in a row. After nearly 50 years, the Buss family’s run as owners of the Los Angeles Lakers could be coming to an end. The family has reportedly agreed to sell its remaining stake to new majority owners Bob Iger and Josh Kushner, but Jeanie Buss and her attorneys have come out to say she was not on board with the decision and plans to challenge the sale. Jeanie Buss would lose her position as Lakers governor should the deal – which still needs NBA approval – move forward. And, Meta, the parent company of Facebook and Instagram headed by Mark Zuckerberg, is facing a major legal battle after losing two key pretrial rulings. Attorneys general from California and other states accuse Meta of designing Facebook and Instagram to keep young users hooked on the platform, while downplaying potential risks to their mental health and well-being. It’s the first of thousands of similar federal lawsuits against the social media giant. Read more at https://www.latimes.com

New data shows 24 million Americans traveled to Europe in 2025 alone — a record high, led by trips to the UK, France, and Italy. But the boom isn't reaching everyone equally: the wealthiest households are driving the surge, and by age, travelers 55-64 led the way, followed by 18-24 year olds. And, a new UC Berkeley Institute of Governmental Studies poll, co-sponsored by the Los Angeles Times, shows California voters are divided on two major ballot measures ahead of the November election. Proposition 40, a one-time tax on billionaires to help fund healthcare, holds a narrow lead, while Proposition 39, which would require voter ID and citizenship verification, is currently opposed by a majority of likely voters. Finally, rookie quarterback Ty Simpson impressed in his first NFL action, completing 21 of 25 passes for 190 yards and two touchdowns in the Rams' 20-12 preseason win over the Kansas City Chiefs. Head coach Sean McVay praised Simpson's command of the offense, while the performance adds intrigue to the battle for the Rams' backup quarterback job behind Matthew Stafford. Read more at https://www.latimes.com

Former Disney CEO Bob Iger and venture capitalist Josh Kushner are set to buy the Los Angeles Lakers for more than $12 billion — just over a year after Mark Walter took a controlling stake at a then-record $10 billion. The sale still needs NBA Board of Governors approval, which could take a few weeks. And, federal health officials say jalapeños imported from Mexico are the likely source of a salmonella outbreak that has sickened at least 345 people across 27 states. Taylor Farms is recalling a wide range of ready-to-eat products from major retailers, including Trader Joe’s, Target, and Walmart. See the full list of recalled products at https://www.latimes.com/california/story/2026-08-11/taylor-farms-recall-expands-to-jalapenos-pulled-from-trader-joes-target. Finally, Spotify is rolling out a new “AI Persona” label for artists who were created with artificial intelligence. Starting in mid-September, those AI artists will also be excluded from Spotify’s personalized mixes and Discovery playlists. The platform will use both AI detection and human review to identify AI artists, and an appeals process will be available. Read more at https://LATimes.com

Nvidia is partnering up with six asset managers, including BlackRock and Goldman Sachs, to bring half a trillion dollars into AI infrastructure — chips, power plants, and data centers. Nvidia CEO Jensen Huang says the goal is to connect its customers with lenders for loans and credit, though key details about the project remain unclear. BlackRock’s Larry Fink says the move reminds him of the creation of mortgage-backed securities, treating AI compute as a new investable asset class. Nithya Raman could lose her leadership role as chair of Los Angeles City Council’s Housing and Homelessness Committee. Council President Marqueece Harris-Dawson plans to split the committee into separate housing and homelessness panels, with Raman no longer leading either one. The political shakeup comes as Raman challenges incumbent Karen Bass for mayor of Los Angeles. Raman is accusing city leaders of political retaliation, while the Bass campaign is criticizing Raman’s record on homelessness. Homelessness remains one of the driving issues of the mayoral race. Disney+ and Hulu are expanding their podcast offerings through a new deal with iHeartMedia. The partnership brings popular video podcasts — including "Hey Jonas!" with the Jonas Brothers and "Pod Meets World" — to the streaming platforms, with more shows arriving this fall. And, Jackie, arguably the world’s most famous bald eagle, dies after mysterious illness. Read more at https://LATimes.com

The S&P 500 closed at a record high on Tuesday. Faith Pinnow from L.A. Times Studios breaks down what's driving the rally — from strong second-quarter earnings reports to growing optimism around a potential Iran ceasefire and the reopening of the Strait of Hormuz. Plus: a look back at how far the index has come since 1957. California lawmakers have rejected a proposal that would have phased out pesticides containing PFAS, also known as "forever chemicals," on farms across the state. Supporters cited health concerns linked to PFAS exposure, while agricultural groups argued a ban would hurt farmers and limit crop protection tools. The revised bill now focuses on publicly identifying pesticides that contain PFAS. Read more at https://LATimes.com

President Trump is threatening to drop Todd Blanche as his pick for Attorney General until he can lock down Senate approval. The warning comes after Republican Senators Thom Tillis and John Cornyn signaled they'd vote no — both objecting to a deal Blanche struck settling Trump's IRS lawsuit, including a controversial "anti-weaponization fund" Cornyn says protects Trump and his family from tax audits. Plus, the Federal Reserve holds interest rates steady, even as inflation sits above the central bank’s target, with the war in Iran disrupting trade routes and pushing energy prices higher. Meanwhile, The financial empire of Dodgers and Lakers owner Mark Walter is reportedly under investigation by federal prosecutors and the Securities and Exchange Commission over $16 billion in loans tied to companies he controls. Authorities are examining whether the transactions were properly disclosed, while Walter's representatives say he acted in good faith and is cooperating with investigators. And, Major record labels — including Sony Music, Universal Music Group, and Warner Music Group — are proposing new standards for how AI-generated music should be treated on official music charts. The guidelines say the songs can chart, but must meet strict requirements around copyright and human involvement. Songs that rely on fake streams or chart manipulation would also be disqualified. This comes as streaming platforms see a boom in AI-assisted songs, raising concerns about the future of the music industry. Read more at https://LATimes.com

Truth Social's new Truth API is set to launch August 1, offering paying clients real-time access to posts from President Trump and other top administration officials. The service reportedly costs $100,000 per month and is designed to help institutional investors react to breaking news in milliseconds. L.A. Times Studios' Faith Pinnow speaks with former White House chief ethics lawyer Richard Painter, who argues the service raises significant ethics and legal questions. He explains why he believes giving paying firms faster access to market-moving information could create an unfair advantage, benefit the president financially, and potentially draw scrutiny from federal regulators. And, Los Angeles is in the midst of an unusually humid weather pattern, making this summer feel much hotter than normal and contributing to more heat-related emergency room visits across LA County. Meteorologists say monsoon moisture, tropical storm remnants and warm ocean waters are to blame. Read more at https://LATimes.com

Trump Media & Technology Group is launching a new service that gives paying customers real time access to President Donald Trump's Truth Social posts, potentially milliseconds before others see them. The new "Truth API" could benefit institutional investors and high frequency trading firms, where even fractions of a second can be worth millions of dollars. In this episode, we speak with L.A. Times business columnist Michael Hiltzik about the legal and ethical questions surrounding the service, why Wall Street reacts so quickly to the president's posts, and whether the $100,000 per month product could become a major new source of revenue for Trump Media as the company looks to offset steep financial losses. Netflix has acquired Ben Affleck's AI film-tech startup, InterPositive, for $587 million. The company says the technology will help speed up filmmaking while keeping creators in control, as Hollywood continues to debate the future of AI in entertainment. A Los Angeles Times investigation found that homeless nonprofit A Step to Freedom paid more than $1.7 million to companies owned by its CEO over three years. County officials later determined the food service contract created a conflict of interest, though no criminal allegations have been made against the organization. Read more at https://LATimes.com