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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Strong First Quarter For Venture Capital

Investment in period up year to year as Greycroft Partners paces local field, backing 19 companies. Greycroft Partners, Snap’s IPO help fuel strong first quarter for venture capital.

Commonwealth Business Bank Reports Net Income Rise in First Quarter

Commonwealth Business Bank released its first quarter earnings report on Tuesday, showing growth in net income and diluted earnings per share.

Movers for Week Ending April 14, 2017

Biotechnology company Capricor Therapeutics Inc. was this week’s biggest mover, gaining 10 percent to end at $3.15. Carson-based U.S. Auto Parts Network, Inc. was also among the week’s biggest movers. The auto parts company gained 9 percent to end at $3.62. Culver City-based healthcare company NantHealth was this week’s biggest loser, dropping 29 percent to end at $3.86.

State Approves Tax Credits for Proterra, Hulu and 19 Other Companies in L.A. County

A state committee on Thursday approved $24 million in tax credits for 21 companies investing up to $314 million to add as many as 1,970 L.A. jobs.

New Funds Put Focus on Entertainment’s Future

FINANCE: Vision, Struans see e-sports, virtual reality as means to score big returns.

Two new investment firms look to bank on the future by backing millennial-focused content creators.

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Moving Into Koreatown

DEVELOPMENT: Proximity to Westside, downtown, rail line fuels market’s attraction.

Koreatown has proved a popular middle ground between downtown and the Westside.

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Small Business Deals Up in First Quarter of 2017

First-quarter sales of small business in Los Angeles were up 4.4 percent year over year, according to numbers from BizBen released Tuesday.

Movers for Week Ending April 7, 2017

Beverly Hills-based Genius Brands International Inc. was the week’s leader, gaining 20.6 percent to close at $4.51. Furniture maker Nova Lifestyle Inc., headquartered in Commerce, was close behind, shooting up 15.7 percent to close at $1.92. The week’s biggest laggard was Ritter Pharmaceuticals Inc. in Beverly Hills, which dropped 19.7 percent to close at $1.14.

Producer Joe Carnahan Lists Pacific Palisades Home for $3.9 Million

Hollywood director and producer Joe Carnahan is selling his Pacific Palisades home for $3.89 million.

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Businessman Helped Neighborhood Bounce Back

DEVELOPMENT: Vermont Avenue tenants credit lift to efforts by Leonardo Lopez.

Olympian Burgers’ Pete Zinelis lived through the Rodney King riots and the neighborhood’s recovery.

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Office Developers Find Home in Residential Area

ACQUISITION: Co-owners expect multifamily boom to feed interest in work space.

The eight-story office building at 520 N. Central Ave. in downtown Glendale sits on a street where several apartment complexes have popped up in the last couple of years.

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PacWest Bancorp Acquires CU Bancorp in $705 Million Transaction

Beverly Hills-based PacWest Bancorp and downtown’s CU Bancorp announced Thursday they will merge, with PacWest acquiring CU for $705 million in cash and stock considerations.

Report: Hiring in Los Angeles Grows by 2 Percent

Businesses hired at a faster rate in March than in the year earlier, according to a monthly jobs report from professional social networking site LinkedIn.

Soon-Shiong’s NantHealth Reports $184 Million Loss

L.A. biotech billionaire Patrick Soon-Shiong’s diagnostics company, NantHealth Inc., reported this week it lost $184 million last year, largely due to lagging sales of its much-touted GPS Cancer diagnostic test.

Movers for Week Ending March 31, 2017

Arts District online advertising platform Social Reality was the week’s big gainer, shooting up 14.5 percent to close at $2.29. Motorcar Parts of America Inc. also put up big numbers, gaining 9.7 percent to close at $30.73. The week’s biggest laggard was Ritter Pharmaceuticals Inc. of Beverly Hills, which fell 21.5 percent to close at $1.42.

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