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Judge rejects Paramount’s request to expedite case against Warner Bros.

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Judge rejects Paramount’s request to expedite case against Warner Bros.

Paramount suffered a blow in a Delaware courtroom Thursday as a judge refused to expedite its lawsuit against Warner Bros. Discovery seeking information about internal deliberations and a financial analysis.

Reuters reported that Vice Chancellor Morgan T. Zurn of the Delaware Chancery Court said during a hearing that Paramount had failed to show it would suffer “cognizable irreparable harm” without the financial details it sought.

Now the pressure is on Paramount to win over Warner shareholders before next week’s tender offer deadline. Investors have until Wednesday to sell their stock to Paramount for $30 a share. Paramount could extend that deadline.

Paramount sued on Monday, claiming investors needed information that Warner has yet to provide about how board members valued various assets in determining that its sale to Netflix was more lucrative.

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Paramount wanted the judge to fast-track the proceedings to help boost its outreach to Warner shareholders.

The David Ellison-led company has insisted its $108-billion deal, including absorption of Warner debt, represents a higher value for Warner shareholders than Netflix’s Dec. 4 cash-and-stock deal. Warner board members closed the auction that night, awarding Netflix the prize.

Netflix, which has seen its stock slide about 17% since early December, is reportedly weighing whether to bolster its bid by offering all cash for Warner Bros. movie and television studio, HBO and HBO Max. Netflix declined to comment.

Paramount wants to buy all of Warner Bros. Discovery, including CNN and the other basic cable channels.

In a statement Thursday, Warner Bros. Discovery said Paramount Skydance’s legal challenge “was yet another unserious attempt to distract and the Judge saw right through it.”

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“We are pleased a Delaware Court agreed with our belief and rejected the notion that this lawsuit needed special treatment and may have other serious flaws,” Warner Bros. Discovery said. “Despite its multiple opportunities, Paramount Skydance continues to propose a transaction that our board unanimously concluded is not superior to the merger agreement with Netflix.”

Paramount downplayed its latest setback, saying Zurn’s ruling “does not pertain to the merits of Paramount’s claim.”

Paramount, in its statement, said that Warner shareholders deserved information about how Warner board’s evaluated the value for Warner’s cable channels to better compare the two proposals.

Netflix doesn’t want the cable channels allowing Warner to move forward with plans to spin off those channels this summer. Warner shareholders would get stock in that new company, called Discovery Global.

“WBD shareholders should ask why their Board is working so hard to hide this information,” Paramount said, adding it “continues to urge WBD to make these disclosures so that WBD shareholders can make an informed decision.”

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Times staff writer Samantha Masunaga contributed to this report.

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Trader Joe’s expands with two new locations in California

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Trader Joe’s expands with two new locations in California

Trader Joe’s plans to open two new stores in California.

The stores will be located in Paso Robles and Anaheim Hills, part of a batch of 10 new nationwide locations the company announced last week.

The additions are part of the company’s growing nationwide expansion.

The popular grocery chain plans to unveil at least 20 locations this year, two of which have already opened their doors, Nakia Rohde, a spokesperson for Trader Joe’s, told The Times.

Trader Joe’s, known for its unique, affordable products and viral tote bags, has undergone rapid growth over the past year, opening 11 new stores in the last two months of 2025.

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The Monrovia-based company has been in growth mode since the first store — located in Pasadena — opened in 1967, Rohde said.

“Our goal is always to bring delicious products at great values to as many people and neighborhoods as we can,” Rohde said. “The best way to do that is to open more stores.”

Trader Joe’s announced five new California locations just under a year ago. A store in Costa Mesa opened in December and another Los Angeles location opened in June.

The company’s rapid developments come as grocery stores battle rising inflation, only further complicated by the hike in gas prices.

Some companies have fared better than others. Aldi, a discount grocery chain, plans to add 180 U.S. stores in 2026. Grocery Outlet announced in March that it is closing 36 underperforming stores, including nine in California.

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Trader Joe’s is privately held and owned by families who also own a stake in the Aldi supermarket chain, according to its website.

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How California Pistachio Farmers Profit From Iran War and Viral Dubai Chocolate Trends

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How California Pistachio Farmers Profit From Iran War and Viral Dubai Chocolate Trends

Land area devoted to pistachio growing

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Twenty years ago, California farmers bet big on the pistachio. The little green nut was considered niche in the United States, but it was a staple in Iran and the surrounding region.

That gamble has paid off. Demand for pistachios is high as wellness trends draw people to high-fiber, protein-rich foods. They are also a key ingredient of Dubai chocolate, the incredibly popular chocolate bar filled with pistachio cream and kataifi, or shredded phyllo.

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Pistachio orchards cover more than 600,000 acres in California, up from 100,000 in 2001. The San Joaquin Valley of California has near-perfect conditions for pistachios, a mix of hot, dry summers and cold, wet winters. The United States is now the world’s largest producer and exporter of pistachios. Iran is second.

Adam Orandi, the chief executive of ARO Pistachios in Terra Bella, Calif., on the farm his father started with Iranian pistachios in 1971. Adam Perez for The New York Times

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Yet more than a month into the war with Iran, ship traffic through the Strait of Hormuz is at historically low levels, which has stymied exports from the region.

The potential removal of a major player in the market is good news for farmers in California, who are likely to get higher prices for their pistachios.

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“With this war, it’s going to limit what Iran is able to do, able to ship, to customers in Europe and China,” said Adam Orandi, who farms 1,600 acres of pistachio orchards in the San Joaquin Valley. His father imported saplings from Iran in the 1970s.

“For years, pistachios were a one-trick pony. They were a salty snack,” Mr. Orandi said. Adam Perez for The New York Times

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For hundreds of years, Iran dominated the market. Pistachios first found their way to California in the 1930s when an American botanist, William E. Whitehouse, brought the nuts back from Iran. Yet only one variety flourished, which was named the “Kerman.”

Pistachio orchards expanded in the 1970s in California, but Iran continued to control the global market until the Iranian hostage crisis of 1979, when students stormed the U.S. Embassy in Tehran and took dozens of Americans hostage.

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Various trade embargoes against Iran were imposed and lifted in the following years, but a 241 percent tariff that was put in place in 1986 essentially ended Iran’s reign in the pistachio market in the United States.

Since 2011, the United States has consistently surpassed Iran as the largest exporter of pistachios. Iran has continued to lose market share.

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The U.S. leads Iran in pistachio exports

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Source: U.S.D.A. Foreign Agricultural Service.

“Production in Iran has been very erratic,” said David Magaña, who analyzes the fresh produce and tree nut industry at Rabobank. “Fifteen years ago, Iran accounted for 40 to 50 percent of global pistachio exports. More recently, Iran’s share has been more like 20 percent.”

The wholesale price of in-shell pistachios — what large manufacturers or retailers pay — has climbed 20 percent in the last 18 months to $4.57 a pound, according to Expana, a market data provider for the agriculture and food industries. In stores, consumers are paying significantly more.

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Pistachio orchards cover more than 600,000 acres in California, up from 100,000 in 2005. Adam Perez for The New York Times

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The market is divided into two products: in-shell pistachios, which are sold whole and often roasted, and pistachio “kernels,” the seeds that are used in food production. The explosion of interest in pistachios as an ingredient in desserts and other foods has sharply increased demand for the kernels.

“For years, pistachios were a one-trick pony. They were a salty snack,” Mr. Orandi said. Just a few years ago, he added, he “couldn’t give the kernels away.”

In recent years, California growers have devoted more acreage to pistachios, and the state produced a record 1.6 billion pounds last year. American Pistachio Growers, a trade association, projected that California trees will bear more than two billion pounds of pistachios by 2031.

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Pistachio imports have shot up worldwide

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Source: U.S.D.A. Foreign Agricultural Service.

But there is one thing standing between the farmers and those projections: California’s water regulations, which people in the industry said may restrict the ability of some orchards to expand.

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Pistachios, like other tree nuts, require large amounts of water. The amount needed by an acre of pistachio trees for an optimal crop yield depends on a number of factors, including soil salinity and the age of the trees.

On average, one acre of pistachios consumes over one million gallons of water in a year — slightly less than almonds and walnuts, according to estimates from University of California Agriculture and Natural Resources. For areas in California prone to droughts, the pistachio boom could add stress to the state’s already thin water resources.

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The vast majority of pistachios in California — in addition to other nuts and crops — grow in areas classified as of “extremely high” water stress as defined by the World Resources Institute, an environmental research firm. Compared to two decades ago, the amount of water used annually for pistachios in these areas is now tens of billions more gallons than before.

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Difference in water use in pistachio-growing regions between 2007 and 2025

Note: Figures for gallons of water were derived from OpenET’s estimates for pistachio water use between 2020 and 2023 — roughly 47 inches of applied water per acre. Sources: World Resources Institute; CropScape; OpenET.

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Still, there may be benefits to pistachios emerging as a major nut crop of the state, according to Josué Medellín-Azuara, a water resources researcher and professor of environmental engineering at University of California, Merced. They are more tolerant to drought and water salinity compared to walnuts and almonds, and they are consistently a high value crop, he said.

The profitability of these water-intensive crops creates a paradox for the farmers planting them, said Rich Pauloo, a hydrologist. “They consume more water, but you get more money per drop of water.”

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Barbie brand takes another hit with festival flop

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Barbie brand takes another hit with festival flop

Jacqueline Kerr arrived to a Florida convention center Friday, suitcases stuffed with intricate, hand-made costumes — pink sequined ball gowns, a leopard bodysuit and an all-white rhinestone cowgirl ensemble — all paying homage to classic Barbie looks.

None of them made it out of her suitcase.

Kerr and her best friend had spent hundreds of dollars preparing for Barbie Dream Fest, a three-day event that organizers touted as a chance for fans to “live the dream life.”

But when Kerr arrived Friday, it felt more like a nightmare.

“I was so excited to have an event where I could finally put on my most Barbie-esque outfits and have an excuse to wear them without looking like a fool,” the 32-year-old from Florida said. “We were so disillusioned after that first day.”

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Hundreds of posts from angry attendees flooded social media sites this weekend, many of whom said the event was a far cry from what was advertised. The event was organized by Mischief Management in Fort Lauderdale, Fla.

Tickets for adults were hefty, ranging from $69 for a day pass to $449 for a 3-day VIP experience. Kerr and her friend purchased a pass that cost $249 per person and included a swag bag that she never received, she said.

Mischief Management confirmed to The Times that the company is issuing full refunds to all ticket holders. Kerr was told the refund would process in three to four weeks.

The event was meant to be an intimate fan convention designed to offer fans closer access to the Barbie universe, a spokesperson for the company said.

“We appreciate the passion and engagement from the Barbie community,” said a spokesperson from Mischief Management. “Bringing fans together — alongside Barbie role models, designers, partners, and global icons who embody the true spirit of Barbie — was at the heart of this event.”

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The event comes during a tough time for the Barbie brand. The doll, one of the most popular toys in Mattel’s inventory, has struggled to garner sales, despite gaining momentum in 2023, when the “Barbie” movie had widespread success.

Mattel’s shares plummeted in February after the company announced weak holiday season sales, with Barbie products taking a big hit. The company recently announced it’s laying off 65 employees in May, and let go of 89 other workers in January.

The Barbie brand was licensed by Mischief Management, a spokesperson for Mattel said.

“We want every fan experience to be an excellent one,” the spokesperson said.

The event sold ticket-holders a big dream, including an ’80s-themed neon roller-skating party, an interactive Barbie Dream House, a bicycle course and a free glam bar. The schedule also boasted a star-studded lineup of speakers, including Serena Williams and Angel Reese.

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But that dream fell flat, attendees said.

Instead, eventgoers roamed a largely empty convention center with bare concrete walls void of pink and glitter. A small, makeshift rink sectioned off by barricades was stationed in the corner, and the glam bar was closed down by the second day of the event. The bicycle course featured four small bikes with training wheels, only suitable for young children.

Kerr and her friend worked their way through the convention in less than 45 minutes on Friday, she said.

Williams, Reese and other celebrities did hold speaking events over the weekend, though the audience was mostly empty, Kerr said. The Mattel designers responsible for making Barbie also spoke at the convention.

The schedule promoted a free glam bar, which wasn’t staffed for most of the weekend, said Brielle Cenci, a vendor who paid several thousand dollars to have a booth.

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Cenci owns a company that sells mermaid clip-on hair extensions and flew in from New Jersey. The event felt poorly organized and vendors received little communication ahead of the convention that only dwindled as the weekend went on, she said.

Vendors expected the convention to be packed with thousands of people, but Cenci said she saw only about 100 attendees a day.

“It felt like a farmers market,” Cenci said. “It was a ghost town. It felt awkward for the people attending, because it was so silent and empty… We were just as in the dark about the event as the attendees were.”

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