LA BUSINESS JOURNAL DAILY NEWS

WeWork to Expand to West Hollywood

Coworking startup WeWork has signed a lease to occupy the entire seventh and eighth floors of Pacific Design Center’s RedBuilding in West Hollywood, adding 70,000 square feet to its portfolio of 13 L.A. County locations.

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High Times Magazine Valued at $250 Million in Reverse Merger Taking Company Public

The parent company of cannabis lifestyle magazine High Times is going public through a reverse merger valuing the company at $250 million.

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AQMD Seeks Order to Cut Emissions at Long Beach Metals Plant

Local air quality regulators on Wednesday announced they are seeking an order to reduce emissions of a toxic chemical at Lubeco Inc., a Long Beach metal-finishing plant.

RBB Bancorp Raises $86 Million in IPO

Downtown’s RBB Bancorp joined the ranks of public companies Wednesday with an $86 million initial public offering on the Nasdaq.

Silicon Beach Report July 26: Global Eagle to Cancel $416 Million Deal With Chinese Firm Over National Security Concerns

Global Eagle to cancel $416 million deal with Chinese firm over national security concerns, Guidance Software acquired for $240 million, and Elon Musk reveals car elevator at Boring Co. site.

Electric Bus Maker Opens Manufacturing Facility in City of Industry

Burlingame-based electric bus manufacturer Proterra Inc. commemorated its new manufacturing facility in City of Industry on Wednesday.

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Global Eagle to Cancel $416 Million Deal With Chinese Firm Over National Security Concerns

National security concerns have forced Global Eagle Entertainment, an in-flight Wi-Fi service, to cancel a $416 million investment agreement with China’s Beijing Shareco Technologies to create a new joint venture for the Chinese market.

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Urth Caffé Moving Kitchen, Coffee Roasting, HQ to Hawthorne

Downtown L.A. restaurant and coffee roaster Urth Caffé is moving its central kitchen and headquarters to Hawthorne, the company announced Tuesday.

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Bradbury House in Pacific Palisades Sold for $12 Million

The iconic Bradbury House at 102 Ocean Way in Pacific Palisades has sold for $12 million to a local woman who intends to make it her primary residence, according to John Aaroe Group, which represented the seller.

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Silicon Beach Report July 25: Modular Construction Startup Emagispace Raises $4.2 Million

Modular construction startup Emagispace raises $4.2 million, ABC News forms production partnership with ATTN:, and Elon Musk disses Mark Zuckerberg’s understanding of the dangers of artificial intelligence.

Annenberg Foundation Awards $3 Million to Music Center for Arts Education

The Annenberg Foundation has awarded downtown’s Music Center a $3 million grant to advance arts education, the center announced Tuesday.

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Silicon Beach Report July 24: Internet Brands to Buy WebMD for $2.8 Billion

Internet Brands to buy WebMD for $2.8 billion, Hulu names Google veteran as marketing executive, and ‘Game of Thrones’ Snapchat lens reaches 45 million people.

Report: Molina Healthcare to Cut 1,400 Jobs

Long Beach-based Molina Healthcare Inc. plans to cut 1,400 jobs in the next few months, Reuters reported Monday.

Flush with Cash, Platinum Equity Acquires Portable Bathroom Enterprise

Platinum Equity deployed more of its $6.5 billion flagship Fund Monday, announcing an agreement to purchase United Site Services for an undisclosed sum.

Internet Brands to Buy WebMD for $2.8 Billion

Internet Brands Inc. of El Segundo announced an agreement Monday to acquire online medical information company WebMD for $2.8 billion.

Entravision Communications Corp. Acquires Palm Springs TV Stations

Spanish-language broadcaster Entravision Communications Corp. has entered into an agreement with OTA Broadcasting to acquire Palm Springs stations KMIR-TV, an NBC affiliate, along with KPSE-LA, a MyNetworkTV affiliate, for $21 million.

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Silicon Beach Report July 21: Cinq Music Raises $20 Million Series B

Cinq Music raises $20 million Series B, Snap Inc. selling Spectacles in Harrods of London, and Snap Inc. hires Swiss team behind anti-reverse engineering software.

Movers for Week Ending July 21, 2017

Beverly Hills-based biotechnology company Capricor Therapeutics was this week’s biggest mover, gaining 92.65 percent to end at $1.31. Social Reality Inc. was also among this week’s biggest movers. The Los Angeles-based internet advertising company rose 19.17 percent to end at $1.43. Santa Monica-based automotive pricing and information website True Car Inc. was this week’s biggest loser, dropping 7.42 percent to end at $19.96.

L.A. Unemployment Rate Unchanged at Record Low 4.4 Percent

L.A. County’s unemployment rate remained unchanged in June from May’s record low 4.4 percent as a seasonal drop in education payrolls offset modest hiring in other sectors.

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Children’s Hospital Los Angeles Receives $3 Million Investment

Children’s Hospital Los Angeles has received a $3 million investment from philanthropists Teresa and Byron Pollitt for an endowed chair position as the director of CHLA’s Fetal and Neonatal Institute.

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