Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

READER POLL: Do you collect art?

Do you collect art?

March Capital Closes $240 Million Fund

Venture capital firm March Capital Partners of Santa Monica closed a $240 million fund on Tuesday to back dozens of technology start-ups worldwide.

Kelly Slater Wave Co. Sells Majority Stake to the World Surfing League

Santa Monica-based artificial wave-making company Kelly Slater Wave Co. has agreed to sell a majority stake to the World Surf League. Terms of the deal were not disclosed.

NFL Awards 2021 Super Bowl LV to Los Angeles

The biggest football game of the year will kick-off in Inglewood in 2021. Super Bowl 55 will take place at the 80,000-seat Los Angeles Rams stadium that’s set to open in 2019, the National Football League announced on Tuesday.

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Under Armour Pens $280M Deal With UCLA

UCLA teams will be soon getting a new look for its sports teams thanks to a 15-year record-breaking $280 million deal between performance footwear and apparel brand Under Armour and the university.

Stocks Continue to Rise

The Dow Jones industrial average rose 213 points on Tuesday to close at 17,705. The S&P 500 rose 28 points to 2,076. The Nasdaq rose 95 points to 4,861. The LABJ stock index rose three points to 228.

READER POLL: Does the idea of sharing living quarters, even for a brief time, appeal to you?

READER POLL: Does the idea of sharing living quarters, even for a brief time, appeal to you?

L.A. Tech Calendar: May 23 - June 5

Roundup of L.A. tech events in the next two weeks.

HelloTech Merges with Rival Geekatoo

In a move that greatly expands its service area, in-home tech-support company HelloTech has merged with rival Geekatoo of San Francisco. Terms of the deal were not disclosed.

Green Dot Corp. CEO Will Likely Keep Board Seat

Green Dot Corp. Chief Executive Steven Streit will likely be re-elected to his company’s board, according to a preliminary vote count from Monday’s annual stockholders meeting, the company announced this morning.

California State Chamber Opposes Ballot Measure to Extend Income Tax Hike

The California Chamber of Commerce announced Monday that it is opposing a likely November ballot measure to extend the income tax increase of Proposition 30 until 2031.

Stocks Fall

The Dow Jones industrial average fell 8 points on Monday to close at 17,493. The S&P 500 fell 4 points to 2,048. The Nasdaq fell 4 points to 4,766. The LABJ stock index fell one point to 225 points.

Silicon Beach Deal Flow: May 20

A weekly roundup of must-read L.A. tech investments and acquisitions.

Breitburn Gets OK to Tap Bankruptcy Loan

L.A. oil firm Breitburn Energy Partners has received court approval to draw on $75 million in financing to sustain itself during bankruptcy proceedings.

Silicon Beach Launch List: May 20

A weekly roundup of L.A. tech company and product launches including StartEngine, Rubicon, OpenX and Esri.

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Imax Launching Virtual Reality Arcades and Camera

Imax Corp. has announced it will launch six virtual reality arcades in locations such as multiplexes and malls.

What to Watch This Weekend

A look at the plots of this weekend’s big new movie releases from a business perspective.

County Unemployment Rate Lowest in Nine Years

L.A. County’s unemployment rate continued its rapid descent in April, falling to its lowest point in nine years.

PE Roundup: Private Equity Deals and Funds Announced May 16-20

Beverly Hills private equity firm Levine Leichtman Capital Partners announced Monday that is has completed the acquisition of Pacific Handy Cutter Inc., a Costa Mesa manufacturer of cutting tools and replacement blades, from private equity firm American Capital Ltd. Terms of the deal were not disclosed.

Movers for Week Ending May 20, 2016

Los Angeles real estate acquisition company InterGroup Corporation was the week’s biggest mover, gaining 22 percent to close at $32.35. Puma Biotechnology, Inc. in West Los Angeles was also among the week’s big movers. The bio pharmaceutical company’s shares rose 22 percent to close at $31.95. Breitburn Energy Partners of downtown Los Angeles was the week’s biggest loser, dropping 62 percent to close at 7 cents.