Good morning! Welcome to KPCC's business blog, The Breakdown. Every weekday, we compile a list of interesting stories in the region.
- AT&T may buy DirecTV in a deal worth at least $50 billion (New York Times).
- More jobs that went overseas due to offshoring are coming back to the U.S. Last year, the number of "factory jobs returning to the U.S. matched the number lost" (Los Angeles Times).
- Allergan's board turns down offer from Valeant Pharmaceuticals and Pershing Square Capital Management (Orange County Register).
- April home prices in Southern California increased 13 percent over a year ago (Los Angeles Times).
- Longshore workers' union and employers begin contract negotiations (Press-Telegram). Reporter Karen Robes Meeks says the current contract will end July 1.
- Only 1,200 small businesses have signed up for the nation's Small Business Health Options Program (Kaiser Health News). Reporter Anna Gorman says that's just a small portion of the number of businesses that would qualify for the program.
- L.A.'s Entrepreneur in Residence program launches (Los Angeles Register).
- Say goodbye to Juicy Couture stores. Kate Spade & Co. is closing brick and mortar Juicy Couture locations (The Press Enterprise).