BP may have been responsible for dumping more than 200 million gallons of oil into pristine waters in 2010, but the company is only now fighting its legal ramifications. California environmental activists and business litigation experts alike are watching closely as the company tries to counter a new Environmental Protection Agency ban stemming from the Gulf of Mexico disaster. BP is challenging a temporary moratorium against getting any new U.S. leases or government contracts for oil exploration.

Financial professionals in California and around the world may have recently learned that Bank of America may be considered merging its division of Merrill Lynch into the bigger firm. Merrill executives reported that the new business formation could occur possibly as early as the fourth quarter of 2013. It was a move that could allow Merrill to continue operations but streamline some BoA subsidiaries. A bank spokesman said that the merger would reduce the number of "legal entities" under the name of Bank of America. He added that the Merrill Lynch name as well as the way their clients and customers were served would remain unchanged.

Franchise rights advocates suffered a setback when the California Senate failed to vote on Bill 610, which would have required that good faith be an official part of franchising agreements. The new franchise law was opposed by representatives and lobbyists representing more than 40 big franchisors such as BP, The UPS Store and Fatburger. One senator counted the number of individuals and franchisees who had contacted him in support of the bill at over 700.