LA BUSINESS JOURNAL DAILY NEWS

Record 48.3 Million People Visited L.A. County Last Year

The county of Los Angeles welcomed a record number of visitors for the seventh year in a row, hosting 48.3 million visitors last year, the Los Angeles Tourism & Convention Board announced Jan. 10.

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L.A. County Slips in Annual Economic Performance Rankings

Los Angeles County fell sharply in an annual ranking of job growth and economic performance among metropolitan areas, according to a Milken Institute report released on Jan. 10.

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Caltius Equity Partners Sells Stake in MC Sign; Deal Valued at $100 Million

Santa Monica-based Caltius Equity Partners announced Jan. 9 the sale of its portfolio company MC Sign, a signage and lighting service company based in Mentor, Ohio, to Arcapita Investment Management US Inc. The total value of the transaction was $100 million, Caltius said in a statement.

Steve Bannon Out at Breitbart

Stephen K. Bannon has stepped down as executive chairman of far-right news and commentary website Breitbart News Network in Westwood.

Silicon Beach Report Jan. 9: Tesla Hits the Roof; NASA to Collect Earth Science Data; and Eastman Kodak Gets Into Cryptocurrency

Electric car company Tesla has begun to install its first solar roof tiles for customers who placed reservations beginning last May. NASA has a new pilot program to gather Earth science data. And Eastman Kodak is introducing its own digital currency as part of the launch of a platform for photographers looking to license their photos.

Butterfly Acquires Pacifico Aquaculture in Mexico

Butterfly Equity, a private equity firm specializing in the food sector, has acquired Pacifico Aquaculture in Mexico, the company announced Jan. 9. Terms of the deal were not disclosed.

Long Beach Airport to Begin Daily Flights to Hawaii

Hawaiian Airlines plans to fly daily from Long Beach Airport to Honolulu starting June 1.

Pontifax AgTech Leads $9.5 Million Round in Biostimulant Producer Inocucor Corp.

Santa Monica’s Pontifax AgTech led the second closing of a $9.5 million Series B round in Denver agricultural technology company Inocucor Corp., the companies announced Jan. 8.

Kunlun Group Limited Completes Acquisition of Grindr

Hong Kong-based mobile gaming company Kunlun Group Limited has closed on its purchase of the remaining stake of Grindr LLC, a gay men’s dating app located in West Hollywood’s Pacific Design Center, the companies announced Monday.

Silicon Beach Report Jan. 8: GoPro layoffs, Grindr founder leaving, new lights for Ring’s smart doorbells

GoPro announced layoffs and cost-cutting as the camera and software company exits the drone business; video doorbell maker Ring has acquired light maker Mr. Beams; and the founder of dating app Grindr is stepping down following the company’s acquisition by a Hong Kong-based mobile gaming company.

City Attorney Files Lawsuits Against Local Trucking Companies

The Los Angeles City Attorney’s office said it has filed lawsuits against three trucking companies alleging the trio engaged in misclassifying truck drivers working for them in order to evade providing protections and benefits to the drivers.

Neural Analytics Inc. of Rancho Park Raises $15 Million in Latest Funding Round

Neural Analytics Inc., a medical device company that uses ultrasound to measure brain health, has raised $15 million in series B financing, officials announced Monday.

Former Playboy Studio Campus Sells in Atwater Village for $30-Plus Million

Gaw Capital Partners bought 3030 Studios, a 108,000-square-foot former Playboy studio campus at 3030 Andrita St. in Atwater Village for an undisclosed amount, Jones Lang LaSalle Inc. announced.

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Business Opposition Mounts to Proposed Moratorium on New Natural Gas Hookups

Business opposition is mounting to a proposed three-month moratorium on new commercial natural gas hookups in Los Angeles County, with a vote by the state Public Utilities Commission set for Thursday.

LAUSD Superintendent Michelle King to Retire to Focus on Cancer Illness

Los Angeles Unified School District Superintendent Michelle King on Friday announced she was retiring to focus on fighting a cancer illness that forced several prolonged absences last year.

Silicon Beach Report Jan. 5: Snap’s Unusual Structure Led to Breakthroughs, But Also Problems

Snap’s unusual structure led to breakthroughs but also problems; Hulu nabs ‘Lost’ exclusive subscription streaming rights from Netflix; and SpaceX now targeting late January for Falcon Heavy launch.

Health System Overseeing St. Vincent Hospital Names New Chief Executive

Verity Health System, a nonprofit agency that governs St. Vincent Medical Center in Los Angeles, has named Richard Adcock as its chief executive.

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Forever 21 Reports $40 Million Loss; Closes More U.K. Stores

Lincoln Height’s Forever 21 Inc. posted a loss of more than 29 million pounds, or almost $40 million, for its seven U.K. retail stores for the year ended Feb. 28, 2016, according to an annual report filed with the U.K. government on Dec. 15, 2017.

Iconic Lido Apartment Building Sold for $32.2 M

Mosser Capital paid $32.2 million to purchase The Lido, a 100-unit apartment building at 6500 Yucca St., in Hollywood that was featured on The Eagles’ “Hotel California” album.

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Silicon Beach Report Jan. 4: Jimmy Iovine to Leave Apple Music in August

Jimmy Iovine to leave Apple Music in August; Chrome River raises $35 million more and eHarmony's “scientific” match ad banned in UK.