For the second time in the past year, the Los Angeles Lakers will see a major ownership change—with another record price tag attached.

Billionaire investor Josh Kushner and former Disney CEO Bob Iger reached an agreement to buy the team at a $12.5 billion valuation, the highest ever for a U.S. sports franchise. They will acquire a controlling ownership stake from billionaire Mark Walter, who bought his majority share for a then-record $10 billion last October.

But the timing of Kushner and Iger’s purchase quickly prompted conspiracy theories that the Trump administration’s ongoing fraud investigation into Walter’s businesses could have influenced the deal, benefiting the brother of Trump’s son-in-law. The White House denied the allegation.

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Consumer prices rose as expected last month, according to BLS data published Wednesday, and analysts predicted the report would keep the “no need to hike rates” narrative intact for the Federal Reserve.

Fast-food chain Wendy’s saw its stock climb by more than 14% Wednesday on the news that billionaire Nelson Peltz’s Trian Fund Management is preparing a bid to acquire the company and take it private, according to the Financial Times. Wendy’s stock had lost nearly half its value over a 12-month period, and only rallied in June after it became the subject of a meme-stock frenzy.

A pair of media groups sued President Donald Trump on Wednesday over Trump Media &........

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