The Breakdown

Explaining Southern California's economy

In SoCal business news: Occidental Petro under pressure, Long Beach Transit contract in jeopardy

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Good morning! Welcome to KPCC's business blog, The Breakdown. Every weekday, our staff compiles a list of interesting business stories in the region.

  • Bloomberg looks at a drop in shares of Occidental Petroleum Corp., which are down after the city of Carson imposed a moratorium on new oil and gas drilling earlier this week. (Bloomberg)
  • Long Beach Transit may have to cancel a $12M contract for electric buses, after the Federal Transportation Administration warned transit officials that bus manufacturer BYD was not eligible for the contract. (Press-Telegram)
  • TV station groups Media General and LIN are poised to merge in a $1.6 billion deal that will create the nation’s second-largest pure-play broadcaster. This is part of a larger trend of broadcast stations consolidating. KPCC earlier reported on Tribune Co.'s purchase of Local TV Holdings, LLC. (Variety)
  • Freedom Communications, owner of the Orange County Register, is launching a Spanish-language newspaper that will be distributed in Orange County, Inland Southern California, the Coachella Valley and Los Angeles. (Orange County Register)
  • More than 50 restaurants throughout Long Beach will be taking part in the city's inaugural restaurant week, which will urge patrons to "Eat LBC." (Press-Telegram)

Got business news? Tweet the business team reporters: Wendy Lee (@thewendylee), Brian Watt (@radiobwatt) and Ben Bergman (@thebenbergman).

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