Today’s Top Business News – The Los Angeles Tribune
- Preliminary injunction issued Tuesday applies to offshore drilling and onshore federal land.
- President Biden designates Columbia law professor as FTC chairwoman following her Senate confirmation as a commissioner, signaling tougher antitrust enforcement ahead.
- The deal for the textbook publisher and educational-technology company is valued at about $4.5 billion, including debt.
- The second day in a row of disruptions led the airline to cancel 500 flights.
- Executives at the troubled startup say there is plenty of interest in its all-electric truck and production is on track to start in September.
- The move to end the longest and most costly spat in the history of the WTO will significantly reduce trade tensions between the two economies.
- Express, Urban Outfitters and J.Crew are among more-specialized chains that have opened up their sites to third-party sellers, a business model long mastered by Amazon.
- U.S. shoppers have reduced purchases of big-ticket items popular during the pandemic and are spending more on dining out as businesses reopen. Spending was up 28% last month from a year ago.
- The Federal Reserve is betting supply-driven inflation will be transitory—but that approach depends on inflation expectations staying low.
- The prices that suppliers are charging businesses and other customers rose 0.8% from April, with most of the increase coming from goods prices.