Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Ryu Tops Business-Backed Ramsay in Council Race

In Tuesday’s District 4 L.A. City Council election, political newcomer David Ryu beat Carolyn Ramsay, the candidate backed by most business organizations, in the race to replace Councilman Tom LaBonge, according to provisional results released Wednesday.

Disney Opens Behemoth Shanghai Store

The biggest Walt Disney Co. store in the world isn’t at the company’s landmark Disneyland theme park in Anaheim or its sprawling Disney World resort in Florida: It’s in Shanghai’s financial district.

Markets Mixed

The Dow Jones industrial average fell 27 points in Wednesday trading to close at 18,285. The S&P 500 fell two points to 2,126. The Nasdaq rose two points to 5,072. The LABJ Stock Index was flat at 235.

L.A.’s Wage Will Rise

Consider L.A.’s minimum wage hiked.

Business Group Takes on CARB over Cap and Trade

Calling California’s cap-and-trade emissions auctions a form of extortion, the National Federal of Independent Business’ Small Business Legal Center has filed a brief in the Third District California Court of Appeals, saying the auctions are a burden to small business and that the California Air Resources Board lacks the legal authority to sell emission allowances.

DaVita Consolidates in Large El Segundo Lease Deal

DaVita HealthCare Partners Inc. wanted to “DaVita-ize” its California presence.

Briefs: Ducommun Expands Relationship with Gulfstream, Brown Signs Climate Change Agreement

Ducommon, Gulfstream Expand Relationship Carson aerospace manufacturer Ducommun Inc. is expanding its business with business-jet maker Gulfstream Aerospace Corp. to make parts for two new business jets models.

Stocks Mixed

The Dow Jones industrial average rose 14 points in Tuesday trading to close at 18,312. The S&P 500 fell one point to 2,128. The Nasdaq fell eight points to 5,070. The LABJ Stock Index was flat at 234.

Tease photo

Investors Bet on Fantasy E-sports Startup

Eager to get a slice of the next thing in fantasy sports, over a dozen investors have taken a stake in Venice’s AlphaDraft, an online fantasy contest for video game competitions.

TV Shows Tune In to Tax Credits

TV shows are rushing to take advantage of expanded tax credits for filming in California.

Looming Wage Hike Tamps Down Business Confidence

L.A. area businesses are optimistic about business conditions this year and plan to sharply ramp up capital spending, according to a survey to be released today from the Los Angeles County Business Federation, or BizFed.

Lewis Brisbois To Stay at U.S. Bank Tower

Lewis Brisbois Bisgaard & Smith is staying put.

Soccer Club Heads for USC

L.A.’s new soccer franchise plans to build a new stadium at the site of the Los Angeles Memorial Sports Arena near USC, team officials announce Monday.

Protests Planned at L.A. Water Bottling Plant

Activists are planning to show up by the busload outside of Nestle Waters North America’s bottling facilities in downtown Los Angeles and Sacramento on Wednesday.

Long Beach Cargo Up in April

In contrast to the neighboring Port of Los Angeles, where container cargo volumes fell last month, Port of Long Beach officials reported a nearly 8 percent increase in April container cargo volume compared to the same month last year.

High Court Rules in Favor of Edison Employees

Weighing in on a dispute brought by employees of Rosemead utility Edison International, the Supreme Court unanimously ruled Monday that retirement plans have to monitor the investment options they offer, a move that could make it easier for employees to file lawsuits in the future over funds that charge high fees.

Stocks Rise

The Dow Jones industrial average rose 26 points in Monday trading to close at 18,299. The S&P 500 rose six points to 2,129. The Nasdaq rose 30 points to 5,078. The LABJ Stock Index rose one point to 234.

Zealot Buys Small Publisher, Hints at Future

Hinting at its ambitions original to enter the publishing realm, digital agency Zealot Networks of Venice has purchased Hutch Media, a small network of websites, for an undisclosed amount of cash and equity.

Council Separates Paid Time Off from Minimum Wage Hike Plan

Responding to an outcry from local business groups and from Los Angeles Mayor Eric Garcetti, City Council leaders late on Friday agreed to separate a controversial paid time off mandate from the minimum wage hike it plans to consider next week.

L.A. Launch List: May 15

The Los Angeles Business Journal brings you a weekly roundup of L.A. tech company and product launches.