LA BUSINESS JOURNAL DAILY NEWS

Toymaker Jakks Pacific CFO Steps Down

Santa Monica-based toymaker Jakks Pacific Inc. announced Dec. 28 that its chief financial officer was stepping down.

Silicon Beach Report Dec. 28: LeEco Founder's Assets Seized as China Pursues Absent Web Mogul

LeEco founder's assets seized as China pursues absent web mogul; Snapchat developing ‘Stories Everywhere’ outside the app; and TaskUs grows to more than 8,000 employees.

Nippon Life Insurance Company Acquires Minority Stake in TCW

On Wednesday, global asset management company TCW announced that Nippon Life Insurance acquired a 24.75 percent minority stake in the company. Nippon Life Insurance, a Japanese private life insurance company with $6.2 billion in profits, acquired its stake in TCW from the Carlyle Group (NASDAQ: CG), another minority owner of TCW.

Canter’s Deli Co-Owner Dead at 58

Obituary

Gary Canter, co-owner and grandson of the founder of famed Fairfax eatery Canter’s Deli, died late Tuesday at age 58, according to statements from the restaurant and family released Wednesday on Twitter and Facebook.

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Silicon Beach Report Dec. 27: Library of Congress Ends Comprehensive Twitter Archive

Technology

The Library of Congress will stop archiving all public tweets; LG is working with a mapping provider to create products for self-driving vehicles; and Amazon released details from the recent holiday shopping season.

Children’s Hospital Los Angeles’ IT Department Recognized

The Information Services Department at Children's Hospital Los Angeles was ranked among the best in the country, by Healthcare IT News, which publishes an annual list of the Best Hospital IT Departments in the U.S.

Guilty Plea in L.A. Garment District Money Laundering Case

The owners of downtown textile company Pacific Eurotex Corp. plead guilty to federal money laundering and tax charges Friday.

Silicon Beach Report Dec. 26: SpaceX Launch Lights Up L.A. Skies

A SpaceX launch of 10 Iridium satellites from Vandenberg Air Force Base lit up the Los Angeles sky on Dec. 22; WhatsApp is ending support for BlackBerry and Windows Phone 8.0 at the end of the year; and Fair.com is acquiring Uber’s Xchange Leasing and picking up 150 employees.

Downtown Santa Monica Office Building Sells for $117 Million

Olive Hill Group LLC paid $117 million – $1,047 per square foot – for 520 Broadway, a six-story, 113,000-square-foot office building located in downtown Santa Monica.

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L.A. County Unemployment Rate Drops to 4.5 Percent Amid Strong Seasonal Hiring

L.A. County’s unemployment rate fell to 4.5 percent in November and employer payrolls hit a record 4.5 million as retailers and other employers bulked up staff for the holiday season, state figures released Friday show.

Arrowhead Pharmaceuticals Seeks Approval to Conduct Two Gene Therapy Clinical Trials

Arrowhead Pharmaceuticals Inc., which develops drugs to treat stubborn diseases by silencing the genes that cause them, reported it has filed for federal clearance to conduct to clinical studies of drugs aimed to treat liver disease and hepatitis B.

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Silicon Beach Report Dec. 22: CNN Cancels Snapchat Show Due to Unclear Path to Profit

CNN cancels Snapchat show due to unclear path to profit; FabFitFun expands distribution with app for Apple TV and Amazon Fire; and Facebook and Universal Music strike multi-year licensing deal.

Silicon Beach Report Dec. 21: Northrop Grumman and Lockheed Martin Win Swarming Cruise Missile Development Contract

Northrop Grumman and Lockheed Martin win swarming cruise missile development contract; GumGum to exceed $100 million in revenue in 2017; and founder of Timehop left Snap after less than a year.

Boston Private Equity Firm Sells El Segundo Office Building for $35.5 Million

Boston-based private equity firm TA Associates has sold an eight-story, 89,000-square-foot office building at 898 N. Sepulveda Blvd. in El Segundo for $35.5 million, according to broker Newmark Knight Frank.

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Eight-Building Industrial Property Sold in Hawthorne for $27.6M

Hawthorne’s renaissance continues unabated as the home to Elon Musk’s SpaceX saw eight industrial properties sold to Terreno Realty Corp. for $27.6 million.

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Beverly Hills Office Building Sells for $143.6 Million

REIT Douglas Emmett Inc. paid $143.6 million – $981 per square foot – for 9401 Wilshire Blvd, a 146,000-square-foot office building in the city’s Golden Triangle area.

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Report: L.A. Doctors Get a Raise, Physician Job Growth Remains Flat

Doctor’s paychecks across Los Angeles County swelled on average 13 percent this year, more than twice the national average, according to a national research study released this week, while job growth lagged far behind major U.S. cities.

Universal Music Group, Facebook Strike Licensing Agreement

Universal Music Group (UMG), headquartered in Santa Monica, has entered a global, multi-year agreement with Facebook under which UMG becomes the first major music company to license its recorded music and publishing catalogs for video and other social experiences across Facebook, Instagram and Oculus.

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Mattel Inc. Lays Off 70 Employees to Cut Costs as Turnaround Falters

El Segundo toy company Mattel Inc. permanently laid off 70 employees earlier this month, according to a WARN notice filed with the California Employment Development Department.

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Silicon Beach Report Dec. 20: HappyReturns Raises $8 Million

HappyReturns raises $8 million, Elon Musk accidentally posts phone number to Twitter; and Faraday Future’s Jia Yueting to become CEO and finds new financing.