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Technology and social media company Snap Inc. was this week’s biggest mover, gaining 16 percent to end at $22.74. Differential Brands Group Inc. was also among the week’s biggest movers. The Commerce-based branded consumer platform gained 16 percent to end at $2.15. Ritter Pharmaceuticals Inc. was this week’s biggest loser, dropping 20 percent to end at $1.80.
TOURISM: Board works to reassure international visitors.
City agency looks to position Los Angeles as a draw despite an expected drop-off from U.S. travel ban.
REAL ESTATE: Brokers see foreign buyers scuttle deals.
Immigration concerns have some foreign buyers moving out of local deals.
EMPLOYMENT: Network of Purple Squirrel works to link current staffers, candidates.
The perfect job candidate is so hard to find that the human resources industry has a term for the rare specimen: a purple squirrel.
Oaktree Capital Management, the third-largest shareholder in Los Angeles Times’ parent tronc Inc., is selling its holdings back to tronc in a $56 million deal, according to documents filed Thursday with the Securities and Exchange Commission.
Online networking marketplace Purple Squirrel has secured $2.7 million in seed funding to support the networking platform’s operational growth needs, according to a company announcement.
Billionaire Patrick Soon-Shiong’s NantHealth Inc. was the week’s biggest gainer. The Culver City biotech firm shot up 27.3 percent to close at $5.51. Beverly Hills-based Capricor Therapeutics Inc. was also a big gainer, rising 16.6 percent to close at $3.30. The week’s biggest laggard was The Rubicon Project Inc., which, in addition to seeing founder Frank Addante step-down from his position as chief executive, saw its stock plummet 33.3 percent to close at $5.80.
INVESTMENT: Some firms take shine to helping startups connect with stars’ money.
Firms have grown familiar in helping celebrities put their money on the next rising-star startup.
REAL ESTATE: Lenders say there’s less risk banking on medical field’s high incomes.
Dr. Peter Kim has found a healthy side gig in helping secure physician home loans for clients.
POLITICS: One targeted bill looks to protect some state standards from federal shifts.
Business groups see “job killers” lurking in Sacramento.
Raphael Bostic, a University of Southern California professor and former President Barack Obama housing administration official, has been named the next president and chief executive of the Federal Reserve Bank of Atlanta.
Platinum Equity Closes $6.5 Billion Fund, Purchases Staples’ Australia and New Zealand Business Units
Platinum Equity announced Monday the closing of a $6.5 billion fund and the new investment vehicle’s latest acquisition, a buyout of Staples Inc.’s Australian and New Zealand business for an undisclosed sum.
MRV Communications was this week’s biggest mover, gaining 36 percent to end at $10.15. Puma Biotechnology was also among the week’s biggest movers. The Los Angeles pharmaceutical company gained 19 percent to end at $40.05. Culver City-based healthcare company NantHealth was the week’s biggest loser, dropping 40 percent to end at $4.33.
Diving in Downtown
Condo projects have come knocking downtown, a market traditionally targeted for rentals.
REAL ESTATE: The controversial initiative’s backers find silver linings.
Measure S failed to pass, but its impact is expected to be felt for years to come.