LA BUSINESS JOURNAL DAILY NEWS

Sons of Armenian Finance Minister Sell Holmby Hills Mansion for $18.8M

The two sons of Armenian Minister of Finance Gagik Khachatryan just sold their home in Holmby Hills, across the street from the Playboy Mansion, for $18.8 million.

Movers for Week Ending April 21, 2017

Virco Manufacturing Corp. in Torrance was the week’s biggest gainer, jumping 17.1 percent to close at $4.45. Downtown beverage maker Reed’s Inc. also saw big gains, adding 10.5 percent to its stock price to close at $4.75. Real Industry Inc. of Sherman Oaks was the week’s biggest laggard, dropping 14.7 percent to close at $2.03.

L.A. County Hits Lowest Unemployment Rate in Decades

L.A. County’s unemployment rate fell to 4.6 percent in March, the lowest level in at least 30 years, state figures released Friday show.

Silicon Beach Report April 21: Snap Inc. Acquires GeoFilter Patent from Mobi for $7.7 Million

Snap Inc. acquires geofilter patent from Mobi for $7.7 Million, Hyperloop One’s Chief Marketing Officer Kimberly Salzer leaves for Ozobot, and CalTech, UCLA ranked top universities for technology transfer.

Marilyn Monroe’s Brentwood Home Where She Died Listed at $6.9 Million

The Brentwood house where Marilyn Monroe lived and died has hit the market for $6.9 million.

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Sean ‘Diddy’ Combs’ Business Partner Lists Beverly Hills Home for $12.5 Million

Andy Schuon, who co-founded music-focused cable network Revolt Media & TV alongside hip-hop artist and entrepreneur Sean “Diddy” Combs, is selling his Beverly Hills home for $12.5 million.

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Silicon Beach Report April 20: L.A. Seed Funding Falls Sharply in First Quarter

L.A. seed funding falls sharply in first quarter, Brian Lee and Ron Burkle-backed medical apparel Startup Jaanuu raises $5 million from retail execs, and Nasty Gal founder Sophia Amoruso’s dramatic biopic releases Friday on Netflix.

State Chamber Expands List of Job-Killer Bills

The California Chamber of Commerce on Thursday released an expanded list of 23 “job killer” bills that it is targeting for defeat in the state Legislature.

L.A. Seed Funding Falls Sharply in First Quarter

While venture capital investment in L.A. startups rose slightly in the first quarter of 2017, seed-stage investments went in the other direction.

Brian Lee, Ron Burkle-backed Medical Apparel Startup Jaanuu Raises $5 Million from Retail Execs

A medical apparel startup looking to disrupt the industry has raised $5 million from investors, including former executives from ecommerce women’s clothier Nasty Gal Inc. and Nordstrom.com, the company announced Wednesday.

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Silicon Beach Report April 19: Analyst Says Facebook Monopoly Crushing Competitors Such as Snapchat

Analyst says Facebook monopoly crushing competitors such as Snapchat, Hyperloop One delays testing of pod, and Jam City launches bubble shooter game based on ‘Peanuts.’

AST Sportswear Takes Over Former American Apparel Manufacturing Site

With the lease officially signed in the fourth quarter of 2016, Brea-based AST Sportswear Inc. has finally moved into the former American Apparel facility in Hawthorne.

Measure to Study the Shutdown of Oil Wells Near Homes and Schools Introduced to L.A. Council

Los Angeles City Council President Herb Wesson on Wednesday introduced a motion calling for a study of the feasibility of enacting a half-mile buffer zone around all oil drilling operations in the city, a move that could ultimately lead to the shutdown of hundreds of wells.

Silicon Beach Report April 18: Snap Launches Additional Augmented Reality Features for Snapchat

Snap launches additional augmented reality features for Snapchat, Facebook defends Snap copying strategy, says it’s just getting started, and TeleSign launches self-service APIs.

Wilshire Grand Offices Set to Ink Tenant

The tallest tower in the West, the 73-story Wilshire Grand Center in downtown, appears close to claiming its first major office tenant.

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Commonwealth Business Bank Reports Net Income Rise in First Quarter

Commonwealth Business Bank released its first quarter earnings report on Tuesday, showing growth in net income and diluted earnings per share.

Omninet Capital Buys Monterey Park Offices for $81 Million

A cluster of office buildings in Monterey Park has sold to Omninet Capital, a Beverly Hills-based real estate and venture capital fund, broker Newmark Grubb Knight Frank announced. The price tag was $81 million, according to a source familiar with the deal.

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Silicon Beach Report April 17: Telecom Firm Wilcon Acquired for $600 Million by Crown Castle Corp.

Telecom firm Wilcon acquired for $600 million by Crown Castle Corp., SpaceX’s August hyperloop competition will test maximum speed, and alleged comments from Snap CEO Evan Spiegel drop stock.

Telecom Firm Wilcon Acquired for $600 Million by Crown Castle Corp.

Crown Castle International Corp. has agreed to acquire downtown telecommunications firm Wilcon Operations for $600 million from private equity firm Pamlico Capital.

Creative Artists Agency Partners With China’s CMC Capital

Creative Artists Agency has partnered with China’s CMC Capital Partners, a leading investment fund in the media and entertainment, internet and mobile, and lifestyle sectors.

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