Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Platinum Equity Sells Air Cargo Handling Company for $1.4 Billion

Beverly Hills-based Platinum Equity has sold air cargo handling company Worldwide Flight Services to affiliates of Cerberus Capital Management for nearly $1.4 billion, Platinum announced on June 19.

Tease photo

BNY Mellon Wealth Management Hires Chuck Long to Run L.A. Office

BNY Mellon Wealth Management has named financial veteran Chuck Long to serve as regional president of its Century City office.

Tease photo

Modest Job Gains in L.A. County for April

L.A. County’s unemployment rate remained steady at 4.4 percent in May as the local economy hovers near full employment, according to state figures released Friday.

NetSol Expands Board

Shareholders of NetSol Technologies Inc. elected two new members to the board of directors at the company’s annual meeting on Tuesday.

L.A. Area Annual Inflation Rate Rises to 4.1 Percent as Gas Prices Spike

The local inflation rate rose to 4.1 percent year-over-year in May, driven by a spike in energy prices, according to federal data released June 12.

Air Lease Corp. to Sell $500 Million in Notes

Air Lease Corp., a global aircraft leasing company based in Century City, has announced the pricing of $500 million in unsecured senior notes.

Tease photo

Marlin Snaps Up Hospitality Television, Internet Providers

Marlin Equity Partners, a Hermosa Beach-based private equity firm, announced June 11 that it has acquired two companies that provide television, internet and phone services to hotels, hospitals and other commercial buildings.

Honest Company Receives $200 Million Investment

Playa Vista-based Honest Company Inc. announced June 6 that it received a $200 million minority investment from private equity firm L Catterton.

Tease photo

RBC Wealth Management Recruits Merrill Lynch’s Johnson Prince Team

Johnson Prince Group, a Century City-based wealth management trio that managed $610 million in assets for Merrill Lynch, has jumped ship to join RBC Wealth Management.

Tease photo

Downtown-Based CBC Bancorp Goes Private

CBC Bancorp, the holding company for Commercial Bank of California, has gone private after an internal reorganization and a year of accelerated growth.

SnackNation Raises $12 Million

Culver City-based SnackNation which curates and delivers healthy snacks raised $12 million in a Series B round, the company announced May 30.

Tease photo

Hanmi Financial to Acquire Texas-Based SWNB Bancorp Inc. for $76.7M

Hanmi Financial Corp., a Koreatown-based holding company for Hanmi Bank, has agreed this week to acquire SWNB Bankcorp Inc. for a deal valued at $76.7 million.

L.A.’s Creative Economy Sees Jobs Increase, Impact on Region’s Economy Slip

Otis report finds $451 billion in economic output statewide

The creative economy, which includes entertainment and digital media, generates about $451 billion in economic output in California, according to a recent report, which found that the creative sector’s impact on the overall economic output in the Los Angeles region has slipped in recent years.

L.A. County Unemployment Rate Dips to 4.4 Percent in April Amid Modest Job Growth

L.A. County’s unemployment rate dipped to 4.4 percent in April after three straight months at 4.5 percent as local employers added a modest 5,000 jobs to their payrolls, according to state figures released May 18.

L.A. Area Inflation Rate Rises to 4 Percent; Highest in Decade

The local inflation rate rose to 4 percent year-over-year in April, the fastest rate in a decade, according to federal data recently released.