Los Angeles Business Journal

LA FINANCE

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

SPECIAL REPORT: Crowdfunding Slow on Draw

New crowdfunding rules have yet to stir big numbers of unaccredited investors.

By Caroline Anderson September 16, 2016 midnight   $$ Share

Movers for Week Ending Sept. 23, 2016

Century City-based Ritter Pharmaceuticals was this week’s biggest mover.

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Saban ‘Blank Check’ Offering Seeks $235M

Media mogul Haim Saban has priced an initial public offering for his Saban Capital Acquisition Corp., seeking to raise $235 million for the “blank check” company that would acquire an as-yet unidentified media business.

Ad Technology Could Join Fold At Paper Parent

Idea of owning ad technology firm clicks with Los Angeles Times owner tronc.

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Private Equity Firm Opts for Dough, Sells Stake in Pretzel Chain

Levine Leichtman Capital Partners, a Beverly Hills private equity firm, cashed in its chips – or pretzels – when it sold its majority stake in Pasadena pretzel chain Wetzel’s Pretzels to CenterOak Partners, a Dallas private equity firm.

Wells Fargo Slapped with $50 Million Fines in L.A. Settlement

The L.A. City Attorney announced a record-breaking settlement on Thursday in which Wells Fargo Bank was ordered to pay customer restitution and $50 million in civil penalties for opening unauthorized customer accounts.

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Banc of California Named Banking Sponsor of LA Rams Foundation

The Irvine-based Banc of California will be the official banking partner of the Los Angeles Rams Foundation, the football team’s charitable organization.

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Nontraditional Gets Workout

EMPLOYMENT: L.A. County fertile field for self-employed.

Entertainment and shipping industries have boosted Los Angeles as a home to nontraditional jobs.

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Social Media Pet Project Goes to Dogs

HelloSociety to enlist four-legged influencers for brand marketing.

HelloSociety hopes to collar famous pets for use in social media marketing campaigns.

Green Dot Bank Names Mary Dent as New CEO

Green Dot Bank in Pasadena announced yesterday that board member Mary J. Dent would become the bank’s chief executive. She succeeds Lewis Goodwin, who will remain as the bank’s president, according to a press release.

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Hedge Fund Puts Money On Dating Site Operator

INVESTMENT: Peak6 takes controlling stake in Spark, owner of ChristianMingle.

Hedge fund Peak6 seals deal with dating site operator Spark Networks for controlling stake.

Hanjin to Present Restructuring Plan as Bankruptcy Deadline Nears

Embattled South Korean cargo container carrier Hanjin Shipping Co. Ltd. is expected to present a $1.1 billion liquidity plan Thursday in efforts to avoid bankruptcy.

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Banc of California Gets Naming Rights to New L.A. Soccer Stadium

The Los Angeles Football Club’s future 22,000-seat stadium will be called the Banc of California Stadium, according to an agreement between the soccer club and Irvine-based bank announced today.

Setback in Cards With Rule Shift

The long-running battle between local card rooms and tribal gaming casinos has a new skirmish line: a change in an obscure state rule that could cost the local card rooms millions of dollars in revenue each year.

L.A. Has Second Highest Number of Fast Growing Businesses Last Year

Los Angeles was the city with the second highest number of fast growing private businesses in the country last year, according to the 2016 Inc. 5000 list, published by Inc. Magazine on Aug. 17.