Billionaire Tax Coming to California and How BYD Dethroned Tesla

Billionaire Tax Coming to California and How BYD Dethroned Tesla

A proposed tax on billionaires in California: Governor Gavin Newsom is against it, Senator Bernie Sanders is for it. Sanders is soon kicking off a campaign to get that measure across the finish line. Basically, the idea is a one-time 5% tax on the assets of the over 200 billionaires in California. Supporters need signatures from about 875,000 registered voters to submit to election officials by the end of June for the measure to qualify for the November election. Meanwhile, San Francisco public schools shut down on Monday, as teachers walked off the job for the first time in nearly 50 years. San Francisco Unified School District is only offering teachers a 6% raise and limited coverage, blaming decreased state funding and a massive deficit. In business, a survey found that Los Angeles and Long Beach homes are among the most expensive in the nation, and BYD toppled Tesla as the world’s leading electric vehicle seller last year due to increased competition due to the end of federal EV tax incentives, growing competition overseas and brand damage. Read more at LATimes.com.

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National Debt Tops $40 Trillion & Tony Romo's Future with CBS

National Debt Tops $40 Trillion & Tony Romo's Future with CBS

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 m...

20 Elo 2min

Record Number of Kindergartners Unvaccinated, Jeanie Buss Contests Lakers Sale, and Meta Trial Begins

Record Number of Kindergartners Unvaccinated, Jeanie Buss Contests Lakers Sale, and Meta Trial Begins

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...

18 Elo 4min

Californians Split on Billionaire Tax & Voter ID, European Vacations, and Ty Simpson Debut

Californians Split on Billionaire Tax & Voter ID, European Vacations, and Ty Simpson Debut

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...

17 Elo 3min

Lakers Purchased for $12+ Billion, Jalapeños Linked to Salmonella, and Spotify Cracks Down on AI Artists

Lakers Purchased for $12+ Billion, Jalapeños Linked to Salmonella, and Spotify Cracks Down on AI Artists

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-r...

12 Elo 2min

Nvidia’s $500B AI Buildout With Wall Street Heavyweights, Nithya Raman Could Lose Key City Hall Leadership Role as Mayoral Race Heats Up, and New Video Podcasts Are Coming to Disney+ and Hulu

Nvidia’s $500B AI Buildout With Wall Street Heavyweights, Nithya Raman Could Lose Key City Hall Leadership Role as Mayoral Race Heats Up, and New Video Podcasts Are Coming to Disney+ and Hulu

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 Jens...

11 Elo 5min

S&P 500 Hits Record High as Earnings Beat Expectations, Iran Ceasefire Hopes Rise, and California Won't Ban 'Forever Chemicals' After Bill Fails

S&P 500 Hits Record High as Earnings Beat Expectations, Iran Ceasefire Hopes Rise, and California Won't Ban 'Forever Chemicals' After Bill Fails

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 pot...

5 Elo 3min

Trump Threatens to Pull AG Pick, Fed Holds Rates Steady Despite Inflation, Dodgers Owner Reportedly Under Federal Investigation, and Should AI Music Count on the Charts?

Trump Threatens to Pull AG Pick, Fed Holds Rates Steady Despite Inflation, Dodgers Owner Reportedly Under Federal Investigation, and Should AI Music Count on the Charts?

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 sig...

30 Heinä 4min

Is Truth Social’s New ‘Truth API’ Insider Trading & Why Los Angeles Feels So Hot This Summer

Is Truth Social’s New ‘Truth API’ Insider Trading & Why Los Angeles Feels So Hot This Summer

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...

28 Heinä 6min

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