Headlines From The Times

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.

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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.

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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.

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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.

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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.

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