Headlines From The Times

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