Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Supreme Court Delivers Victory for People-Search Firm Spokeo

The U.S. Supreme Court has handed people-directory site Spokeo of Pasadena a victory in its defense of a class-action lawsuit alleging the company should be held financially liable for publishing false information.

Starting Salaries in Los Angeles Are 12 percent Higher Than National Average

The average starting salary for college graduates in Los Angeles is about $54,000 – 12 percent higher than entry-level salaries across the nation, according to a study released Tuesday by Century City executive search firm Korn Ferry.

Stocks Fall

The Dow Jones industrial average fell 181 points on Tuesday to close at 17,530. The S&P 500 fell 19 points to 2,047. The Nasdaq fell 60 points to 4,716. The LABJ stock index fell three points to 226 points.

READER POLL: Would an Apple store downtown mean the neighborhood has officially arrived?

READER POLL: Would an Apple store downtown mean the neighborhood has officially arrived?

L.A. Tech Calendar May 16 - 29

Roundup of L.A. tech events in the next two weeks.

Connexity Debuts New Audience Measurement Tool

Digital marketing company Connexity has launched a new audience measurement and analytics platform named AudienceView.

Gannett Boosts Offer for L.A. Times Parent Tribune Publishing

Gannett Co. has increased its offer to acquire Tribune Publishing, the corporate parent of the Los Angeles Times.

Oil Firm Breitburn Energy Files for Bankruptcy

L.A. oil firm Breitburn Energy Partners filed for Chapter 11 bankruptcy protection Monday after attempting to stave off insolvency for months. Breitburn Chief Executive Hal Washburn said in a statement the company had enough capital to continue its operations as normal during restructuring efforts.

Stocks Continue to Rise

The Dow Jones industrial average rose 175 points on Monday to close at 17,711. The S&P 500 rose 20 points to 2,067. The Nasdaq rose 58 points to 4,775. The LABJ stock index rose one point to 230 points.

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Snapchat To Snap Up Real Estate in Santa Monica Market

Snapchat, Inc. appears to be in the process filtering into a large spot at the Santa Monica Airport, close to its Venice headquarters.

Silicon Beach Launch List: May 13

A weekly roundup of L.A. tech company and product launches.

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Cross Culture Ventures Closes $10.5 Million Fund

Troy Carter’s Cross Culture Ventures has raised a $10.5 million fund, according to a filing with the Securities and Exchange Commission.

Silicon Beach Deal Flow: May 13

A weekly roundup of must-read L.A. tech investments and acquisitions.

PE Roundup: Private Equity Deals And Funds Announced This Week

Beverly Hills private equity firm Gores Group announced Monday it will sell portfolio firm Hay Group, a Bad Sobernheim, Germany-based producer of high-precision forged and machined steel automotive parts, to Toyohashi, Japan manufacturer of automotive components Musashi Seimitsu. Terms of the deal were not disclosed. Westwood investment firm St. Cloud Capital announced Monday it has invested in urgent care clinic manager Stat Health of Long Island, N.Y. Financial terms were not disclosed. Santa Monica investment firm Clearlake Capital Group announced Tuesday it will acquire Irvine software provider Vision Solutions Inc. from San Francisco private equity firm Thoma Bravo. Financial terms of the transaction were not disclosed.

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'Money Monster' With George Clooney Seeks Box Office Dollars

A look at the plots of this weekend’s big new movie release from a business perspective.

Stocks Fall

The Dow Jones industrial average fell 185 points by close of day Friday trading to 17,535. The S&P 500 fell 17 points to 2,047. The Nasdaq fell 20 points to 4,718. The LABJ stock index fell 2 points to 228.

Movers for Week Ending May 13, 2016

Patent asset acquisition company Marathon Patent Group, Inc. in West Los Angeles was the week’s biggest mover, gaining 18 percent to close at $1.94. Puma Biotechnology, Inc. in West Los Angeles was also among the week’s big movers. The biopharmaceutical company’s shares rose 12 percent to close at $26.21. Breitburn Energy Partners of downtown Los Angeles was the week’s biggest loser, dropping 40 percent to close at 19 cents.

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Activision to Broadcast E-sports on Facebook Live

As part of its bid to become the ESPN of e-sports, Activision Blizzard Inc. announced Thursday that it would broadcast e-sports tournaments on Facebook Live.

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CIT Bank Reinvestment Plan Gets Approval, Criticism

Pasadena-based CIT Bank has finally won approval of its new community reinvestment plan from federal regulators, a condition of the consent of its merger with OneWest Bank last summer.

Stocks mixed

The Dow Jones industrial average rose 9 points on Thursday to close at 17,720. The S&P 500 stayed flat at 2,064. The Nasdaq fell 23 points to 4,737. The LABJ stock index stayed the same at 230 points.