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Business
The Federal Reserve voted 10-2 to hold its benchmark interest rate steady at 3.75 to 4 percent, with Cleveland Fed President Beth Hammack and Governor Lisa Cook dissenting in favor of a further increase to fight inflation.
Sports betting is legal in 55 of Louisiana’s 64 parishes, with nine online sportsbooks and numerous retail locations operating under rules set by the Louisiana Gaming Control Board, while nine parishes still prohibit wagering altogether.
Toys “R” Us operator Go Retail Group is pushing to open 120 new stores by Thanksgiving, but suppliers burned by the chain’s 2017 bankruptcy are balking at requests for payment terms of up to 180 days.
GEN Restaurant Group is selling its 47 Korean BBQ restaurants, including 21 in California, to Chubby Group for $100 million while it pivots to its packaged-food business.
As housing, gas and grocery costs climb in California, diners are shifting to discounted happy-hour meals and some residents say the affordability squeeze is driving them out of the state entirely.
Elon Musk unveiled a remote-controlled Tesla Roadster that flies, flips and drives upside down using SpaceX thruster technology, with production slated for 2028.
David Zaslav left Warner Bros. Discovery with roughly $1 billion after its $81 billion sale to Paramount’s new owners, and is currently biking in Montana rather than announcing a next move.
California’s athletic commission has ordered a Los Angeles robot-boxing league to stop its unsanctioned human-versus-robot fights, even as federal agents arrested 23 people in a Skid Row drug trafficking sweep the same week.
Netflix is laying off about 1,000 employees — six percent of its workforce — in the largest cuts in the company’s history, as its stock has fallen 42 percent amid a broader industry shift toward AI-driven cost-cutting.
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