AGP Executive Report
Last update: 7 hours agoElection Results: California voters rejected the proposed billionaire wealth tax, while Democrat Xavier Becerra won the governorship, becoming the state’s first Latino governor. Jane Kim was elected insurance commissioner, setting up a promised overhaul of the industry. Death Penalty: Gov. Gavin Newsom commuted the death sentences of all 548 people on death row to life without parole, drawing sharp criticism from prosecutors and victims’ families. Tech Regulation: Google, Meta and TikTok are suing to block California’s law restricting addictive social media features for users under 16, which is set to take effect in January. Business: Biotech company argenx agreed to acquire Santa Cruz-based Unnatural Products for up to $1.15 billion; the company is expected to remain in Santa Cruz. Olive Young also plans five California stores by mid-2027. Infrastructure: California’s high-speed rail project has cleared environmental review for its full first phase, but delays and soaring costs continue to cloud prospects for trains reaching Los Angeles.
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