Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Stocks Rise

The Dow Jones industrial average rose 91 points in Friday trading to close at 17,810. The S&P rose 11 points to 2,064. The Nasdaq rose 11 points to 4,713. The LABJ Stock Index was flat at 214.

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L.A. Launch List: Nov. 21

On this week's Launch List: A monster messaging app goes for mobile payments. Triple AAA is challenged. A startup studio steps up.

L.A. Unemployment Rate Holds Steady Despite Jump in Employer Payrolls

L.A.’s unemployment rate held steady last month at 8 percent, even as local employers added 35,000 jobs to their payrolls, mostly in education, according to state figures released Friday.

VentureLab Launches Startup Studio

VentureLab Growth Partners looks like another incubator, but the startup studio promises to offer a more hands-on approach than traditional programs.

Upfront Ventures Files for Fifth Fund

Upfront Ventures is looking to raise $250 million for a fifth fund, according to a SEC filing.

Update: With Oaktree Backing, Mann Sells Two Parks

The Mann Biomedical Park in Valencia and Sylmar Biomedical Park in the San Fernando Valley, both owned by Alfred Mann, have been sold to Intertex Cos. in Valencia with financial backing from L.A. investment firm Oaktree Capital Management. Biomedical Park in Valencia has finally closed. It was acquired by Intertex Cos. in Valencia with financial backing from L.A. investment firm Oaktree Capital Management.

Galpin, Henrik Fisker to Debut Muscle Car Made of Carbon Fiber

Henrik Fisker is expected to announce plans for a new muscle car with a body made of carbon fiber during an appearance at the Los Angeles Auto Show today. Fisker is working with Galpin Motors Inc. in Los Angeles on the project, according to Beau Boeckmann, the auto dealeship’s president and chief operating officer.

City to Speed Up Building Construction Inspections

Acting on a promise to cut bureaucratic red tape at City Hall, Los Angeles Mayor Eric Garcetti on Thursday announced a measure to speed up building inspections for major projects and restaurants in the city.

State Approves Edison’s San Onofre Settlement

The California Public Utilities Commission on Thursday approved a settlement between utilities, led by Southern California Edison, and ratepayer advocates over who should pay for the more than $4.7 billion in costs to date for shutting down the troubled San Onofre nuclear power plant.

Stocks Rise

The Dow Jones industrial average rose 33 points in Thursday trading to close at 17,719. The S&P 500 rose four points to 2,053. The Nasdaq rose 26 points to 4,702. The LABJ Stock Index was flat at 213.

FastPay Gets $15 Million

FastPay has received $15 million in growth equity funding from Oak HC/FT, a new $500 million venture capital fund from Oak Investment Partners that invests in health care and financial services technology.

Activision Settles Shareholder Suit, Pays Itself $275 Million

Santa Monica’s Activision Blizzard Inc. has agreed to a $275 million settlement to end a shareholder lawsuit stemming from an $8 billion deal last year in which the company and an investor group regained majority control from French conglomerate Vivendi SA.

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Work/Life Balance: Jennifer Sargent

The chief executive and co-founder of HitFix on social media, scheduling in 15-minute increments and the ever-evolving role of a startup CEO.

In 2008, Jennifer Sargent co-founded Santa Monica’s HitFix, an entertainment news site targeting a millennial audience. Today, HitFix reaches more than 2 million monthly unique users. Sargent’s career began on Wall Street, where she worked in technology and media investment banking at JPMorgan. She later moved to Hamburg, Germany, where she made early stage investments in media startups across Western Europe for Bertelsmann Ventures. Most recently, Sargent was charged with heading online marketing and development for Reed Business Information, Variety’s parent company. Today, she is a mother at the helm of her own media company, which she says is growing fast. We spoke with Sargent about how to manage a role that is constantly shifting.

Pluto TV Rakes in $13 Million

Pluto TV, an online video curating platform, has raised $13 million in a Series A round led by USVP.

Apple to Pre-Install Beats Music App for iOS

It seems Apple is ready to offer Beats Music and iTunes side by side – quite literally, in fact, in its iPhones.

Justin Timberlake Becomes Co-Owner of AfterMaster Audio Labs

Justin Timberlake can now add audio tech owner to his resume.

Fuji to Bring Packaged Sushi to Chicago

Fuji Food Products Inc., a Santa Fe Springs company that makes packaged sushi, said Wednesday it is opening a new manufacturing plant in the Chicago suburbs.

Warner Bros., WWE Strike Distribution Deal

Warner Bros. Home Entertainment announced on Wednesday a partnership to distribute programming from World Wrestling Entertainment Inc. starting next year.

Second Sight Soars in Market Debut

Shares of Second Sight Medical Products Inc. – the latest Alfred Mann company to go public – more than doubled Wednesday in its initial public offering.

Stocks Fall

The Dow Jones industrial average fell two points in Wednesday trading to close at 17,686. The S&P 500 fell three points to 2,049. The Nasdaq fell 27 points to 4,676. The LABJ Stock Index was flat at 213.