LA BUSINESS JOURNAL DAILY NEWS
Unemployment Steady in L.A. County Despite Seasonal Job Losses
L.A. County’s unemployment rate held steady at 4.5% in July.
Feds Ding Meruelo for Fake Emergency Alert
The Federal Communications Commission has fined and entered into a consent decree with Alex Meruelo’s Meruelo Radio Holdings after one of the company's radio stations played the Emergency Alert System tone as a sound effect.
Hacienda Heights Multifamily Building Sells for $34 Million
Sagewood Gardens, a 162-unit senior living community in Hacienda Heights, has sold for $34.4 million.
LA Financial Credit Union to Merge with Ventura County Credit Union
Pasadena-based L.A. Financial Credit Union has agreed to merge into the Ventura County Credit Union, creating an institution with $1.3 billion in assets and serving 120,000 members in California and Arizona.
Romance Movie Streamer Stirs Investors’ Passion
Elon Musk's sister founded PassionFlix, a streaming service that turns steamy romance novels into amorous movies. According to an Aug. 13 SEC filing, PassionFlix has raised $6.8 million in new funding.
Prologis Buys 11-Acre Site in Commerce for $41 Million
Logistics real estate company Prologis Inc. has purchased an 11-acre industrial site in Commerce for $41.4 million.
$806M Contract Awarded for Construction of Foothill Gold Line Light Rail Extension
The Foothill Gold Line Construction Authority has awarded an $805.6 million contract to Kiewit Infrastructure West Co. and Parsons Corp. to extend the rail line from Glendora to Pomona.
Rare Office Building in Hermosa Sells
The Bijou Building, a roughly 23,000-square-foot building in Hermosa Beach, has sold for $18 million. It is a three-story mixed-use building with office and retail space.
Echo Fox Exits Riot Games Championship League
Esports team owner Echo Fox has forfeited its role as a competitor in Riot Games Inc.’s lucrative “League of Legends” League Championship Series after failing to sell the spot to another bidder.
March Capital Leads $51 Million Funding Round in AI Company Uniphore
Santa Monica-based venture investors March Capital Partners led a $51 million Series C round for conversational artificial intelligence developers Uniphore Software Systems Private Ltd.
SoftBank Vision Fund Invests $110 Million in Idea Lab's Energy Vault
Renewable energy storage firm Energy Vault, a portfolio company of Pasadena's Idea Lab, received a $110 million investment from SoftBank Vision Fund to scale its operations and expand into international markets.
Advertising Tech Firm Lucidity Raises $5 Million
Marina del Rey advertising technology outfit Lucidity has raised a $5 million Series A round of funding to invest in engineering, product development and customer support.
Singularity Six Snags $16 Million
Andreessen Horowitz led a $16.5 million Series A funding round for Sawtelle-based online multiplayer game developer Singularity 6 Corp., which will use the cash to develop its first fantasy multiplayer game.
Crescent Capital BDC Buys Alcentra Capital for $142 Million
West Los Angeles-based Crescent Capital BDC, a business development company focused on originating and investing in debt of private companies, has purchased Alcentra Capital for $142 million in cash and stock.
Boxwood Merger Corp. Buys Austin-Based Atlas Intermediate Holdings
Boxwood Merger Corp., which raised $200 million in a public offering in November, has purchased an Austin, Texas-based professional and technical services business that could capture future federal dollars for infrastructure development.
Loot Crate Files Bankruptcy, Plans to Sell Assets
Loot Crate Inc., which sells subscription boxes of pop culture apparel and collectibles, filed for Chapter 11 bankruptcy protection Monday.
Kaiser Unions Plan to Strike in October
Kaiser Permanente workers in California have voted to strike beginning in October, according to a statement from the Coalition of Kaiser Permanente Unions.
Exports Fall, Imports Flat as Trade War Hits Southern California Ports
The U.S.-China trade war is pounding the San Pedro Bay ports. Import volumes were essentially flat year over year in July as exports declined 5.1%.
GPI Cos. Closes $300 Million Investment
Brentwood-based GPI Cos. received $300 million equity commitment from one of the largest state pension systems.
Mattel Shares Tumble After Bond Sale Stopped Over Whistleblower Letter
Barbie-maker Mattel’s stocks tumbled Friday after the El Segundo-based company announced it terminated the sale of senior notes, so it could investigate an anonymous whistleblower letter.
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