Los Angeles Business Journal


Silicon Beach Report Oct. 17: Snapchat Makes Inroads in the United Kingdom

Snapchat makes inroads in the United Kingdom, SAG-AFTRA threatens video game publishers with strike, and HelloTech hires president.

Netflix Signs Lease for Hollywood Studio Space

Netflix Inc. has signed a 10-year lease for soundstages and production offices at Sunset Bronson Studios, property owner Hudson Pacific Properties said in a news release.

SAG-AFTRA Threatens Video Game Publishers with Strike

Video game actors represented by SAG-AFTRA are threatening to go on strike Friday if demands for a larger cut of royalties and limits on “vocally stressful sessions” are not enacted.

Carnival Cruise Line to Double Size of Long Beach Terminal

Carnival Cruise Line has signed an agreement to more than double the size of its Long Beach terminal to accommodate larger ships.

USC, Ports Partner to Improve Supply Chain Technology

The University of Southern California, local ports, and the U.S. Department of Commerce have formed a strategic partnership aimed at improving the global competitiveness of the nation’s supply chains.

Movers for Week Ending October 14, 2016

El Segundo-based sporting goods retailer Big 5 Sporting Goods was this week’s biggest mover, gaining 8 percent to end at $16.99. Kilroy Realty Corp. Real Estate Trust was also among the week’s movers. The DTLA real estate corporation gained 5 percent to end at $70.11. Specialty pharmaceutical company Ritter Pharmaceuticals Inc. was this week’s biggest loser, dropping 14 percent to end at $1.70.

Tease photo

Construction Begins at Santa Monica Luxury Hotel

Construction has begun on a new 271-room luxury hotel and retail complex on Wilshire Boulevard and 7th Street in Santa Monica, according to the Kor Group, the real estate investment and management group developing the property.

Tease photo

Hanjin to Sell Assets as Containers Pile Up, Long Beach Cargo Drops

From empty containers piling up to a drastic drop in cargo numbers, the impact of Hanjin Shipping Co.’s bankruptcy filing this summer has continued to frustrate local businesses.

Tease photo

Labels Pursue Video Payback

MUSIC: Recording industry fights YouTube-derived MP3s.

Record labels’ piracy lawsuit could be a tune-up in the fight against converting videos into MP3s.

Silicon Beach Report Oct. 13: Hyperloop One Raises $50 Million

Hyperloop One raises $50 million, Soylent tells customers to throw away vomit-inducing bars, Atari’s Nolan Bushnell launches virtual reality company, and more.

Reality and Web-Based TV Increased Filming in L.A. Last Quarter

Reality television and web-based TV productions helped boost Los Angeles-based production shooting days last quarter while features and commercials saw declines, FilmL.A. announced on Thursday.

Tease photo

Downtown Federal Courthouse Gets Final Touches Before Opening

After $350 million and nearly four years of construction, downtown’s shiny new federal courthouse is ready for its public debut. Although the bulk of construction was completed in August, a ribbon-cutting ceremony is scheduled for Thursday and will feature speeches from Mayor Eric Garcetti, downtown councilman José Huizar and U.S. Rep. Lucille Roybal-Allard.

Silicon Beach Report Oct. 12: SolarReserve to Build $5B Thermal Solar Project in Nevada

SolarReserve to build $5 billion thermal solar project in Nevada, Snapchat picks Morgan Stanley and Goldman Sachs for IPO, Pluto TV Raises $30 million, and more.

Oaktree Capital Invests $85M in Canadian Food Company

Private equity firm Oaktree Capital Management has invested $85 million in Canadian organic and non-GMO food producer SunOpta Foods, Inc.

Wells Fargo CEO John Stumpf to Step Down

Wells Fargo & Co. announced today that the company’s Chief Executive John Stumpf is retiring and will step down as chairman and chief executive, effective immediately.

Tease photo

SolarReserve to Build $5B Thermal Solar Project in Nevada

SolarReserve announced on Tuesday that it would build ten solar thermal plants on a Nye County site about 225 miles northwest of Las Vegas for $5 billion.

Silicon Beach Report Oct. 11: Snapchat Courting Hollywood Producers

Snapchat courting Hollywood producers, SpaceX expects to launch again by the end of the year, and FameBit acquired by Google.

Famebit Acquired by Google

Multichannel media network Famebit has been acquired by Google for an undisclosed amount.

Famebit Acquired by Google

Multichannel media network Famebit has been acquired by Google for an undisclosed amount.

L.A. City Economy Showing Broad, Robust Growth

The city of Los Angeles economy saw broad-based, steady growth last year, according to a report to be released this morning from Beacon Economics for the Los Angeles Area Chamber of Commerce.