LA BUSINESS JOURNAL DAILY NEWS
Homelessness Policy Research Institute Launched at USC
USC is launching a research institute devoted to policies to reduce homelessness in L.A. County, the university announced April 23.
L.A. Jewelry Co. Fined $1.6M for Lead, Cadmium in Products
A downtown Los Angeles jewelry distributor has been fined $1.6 million for selling products with lead and cadmium levels exceeding state limits, state regulators and the state attorney general announced April 24.
Silicon Beach Report April 24: Reliam Acquires Stratalux
Reliam acquires Stratalux; Aviron bets on interactive movies; ICX Media opens Los Angeles office.
Science 37, Logical Images Join Forces to Help Dermatologists, Patients
Science 37 Inc., a mobile tech and clinical trial firm based in Playa Vista, has struck a deal with Logical Images Inc. to help doctors and patients better manage skin disorders, the companies announced April 24.
Reliam Acquires Stratalux
Reliam, a South Bay-based company that manages public cloud platforms for other businesses, announced it has acquired Stratalux, another South Bay-based cloud services company. Both Reliam and Stratalux work with Amazon Web Services and Reliam also works with Microsoft Azure.
Co-Work Company Centrl Office Leases 29K SF in Little Tokyo
Portland, Ore.-based co-work space company, Centrl Office, has signed a 10-year lease for 29,000 square feet at Little Tokyo’s Brunswig Square at 356-374 E. 2nd St., its first such location outside its home state.
Silicon Beach Report April 23: Netflix to Raise another $1.5 Billion for Original Content
Netflix to raise another $1.5 billion for original content; Postmates creates 2,000 jobs in Los Angeles; Boeing invests in Morf3D.
Highview Capital Acquires Two Manufacturing Companies
Private equity firm Highview Capital’s first portfolio company, American Plastics, has acquired two Ohio-based manufacturing companies, the company announced on April 18. Terms of the deal were undisclosed.
Chinese Company's Impending Control of L.B. Terminal Prompts Concern
U.S. regulators have reportedly raised concerns about China-based Cosco Shipping taking control of a container terminal at the Port of Long Beach as part of its $6.3 billion acquisition of another shipping line, the Wall Street Journal reported on April 20.
Ares Management Closes Real Estate Deal in Europe
Ares Management, a Los Angeles-based asset management company, added 159,000 square meters of office space across seven properties in Germany, the Netherlands, Austria and Finland to its real estate portfolio. The company declined to disclose the purchase price.
Santa Monica’s Appetize to Use Its Payment Technology at New LAFC Stadium
Santa Monica-based technology company Appetize said Major League Soccer team, Los Angeles Football Club, will use its payment software to handle food and beverage concessions sales at the club’s newly-opened $350 million Banc of California Stadium in Exposition Park.
South Bay Industrial Space Sells for $103 Million
Chicago-based Bridge Development Partners has sold to a Morgan Stanley fund the 512,000-square-foot industrial space, Bridge Point South Bay, at 20333 Normandie Ave. near Torrance for roughly $103 million, or about $200 per square foot, according to sources.
New Electric Buses at LAX
The L.A. Board of Airport Commissioners approved a $23.7 million purchase of new 60-foot electric buses that will be used to transport passengers between terminals on the airfield.
Silicon Beach Report: Saviynt Raises $40 Million
Saviynt raises $40 million; Snoops Dogg’s Casa Verde invests in Green Bits; USC earns top-10 spot for video game development programs.
USC Among Top 10 Universities for Video Game Development Programs
The University of Southern California ranked No. 2 on a list of top 10 universities for video game development programs, according to Sherman Oaks-based 80 Level, an online publication covering the gaming industry.
L.A. County Unemployment Rate Continues Steady at 4.5 Percent
L.A. County’s economy continued to coast near full employment in March as the unemployment rate held steady at 4.5 percent for the third straight month and local employers added a relatively small 13,000 jobs, according to state figures released April 20.
Macerich CEO Retiring
Macerich Co. Chairman and CEO Arthur Coppola will retire at the end of the year, the company announced, ending 25 years at the helm of the Santa Monica-based shopping mall owner.
Cannabis Banking Bill Passes Committee Vote
A State Senate committee approved a bill April 18 to allow cannabis business owners to start a limited charter bank in California.
Carson Industrial Properties Land Two Large Leases
The city of Carson continues to attract tenants in Los Angeles County’s tight industrial real estate market, as plastic tube manufacturer CCL Tube Inc. and logistics company Jerich USA, signed significant leases in the city, broker Cushman & Wakefield announced.
Surf Air Adds 20 Global Destinations to Offerings
Surf Air, the Los Angeles-based airline that offers unlimited flights for a monthly subscription, announced partnerships with JetClass and BLADE, giving customers access to additional domestic and international locations.
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