Rite Aid Trades 865 Stores to Rival

Rite Aid Trades 865 Stores to Rival as part of a push to to satisfy antitrust concerns over its pending merger with Walgreens.  Full Story

General Business & Real Estate

Federal Reserve Raises Interest Rates for Second Time in a Decade

The increase was unanimous and modest, raising the Fed’s key interest rate by a quarter point, from a range of 0.25 to 0.5 percent to a range of 0.5 to 0.75 percent.  It reflects Fed officials' confidence in the strengthening of the U.S. economy and what officials see as budding signs of higher inflation.  Full Story

General Business & Real Estate

L.A. Passes Measure JJJ, The Affordable Housing Mandate

Measure JJJ makes it a requirement that developments that require changes to zoning codes set aside a certain percentage of units available for low-income residents. It also requires these projects to hire workers from the City of Los Angeles, and includes incentives for the developments to be built near public transportation.  Full Story

General Business & Real Estate

Yellen Affirms Interest Rate Hike Likely Next Month

Federal Reserve Chairwoman Janet L. Yellen gave a relatively upbeat assessment of the economy Thursday, further signaling a likely interest rate hike next month.  But she also noted that there is a “great deal of uncertainty” following the election and that she expected it would last for “some considerable time.”  Read More

General Business & Real Estate

L.A. to Update Existing Energy Disclosure Law

The Los Angeles Department of Building Safety (LADBS) has released a draft ordinance that updates the Existing Buildings Energy and Water Efficiency Program to outline a compliance schedule for energy and water consumption benchmarking for privately owned buildings from as small as 20,000 sq. ft., including commercial, multi-family and even industrial.  Read More

General Business & Real Estate

Fed Leaves Interest Rates Alone

Fed leaders decided not to increase the bank's key interest rate on Wednesday at the conclusion of a two-day meeting. The decision was largely expected by economists and investors who bet there was very little chance of a move.  Read More

General Business & Real Estate

How to Solve California's Housing Shortage?

Los Angeles Mayor Eric Garcetti and other supporters hope the relaxed rules will spur backyard home building to combat a housing shortage that, by one estimate, leaves the state annually more than 100,000 new units behind what’s needed to keep pace with soaring home prices.  Full story

General Business & Real Estate