LA FINANCE

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.

Cash-Advance Firm Plows Money Into Farming

FINANCE: ProducePay fields service to fund-hungry sector.

Cash-advance service ProducePay believes it has a bumper crop of clients in farmers.

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Soxhub Gets Investment from Donnelley Financial in New Partnership

Soxhub Inc. said this week it had received a minority investment from Donnelley Financial Solutions Inc. as part of a partnership between the two companies.

L.A. Adds Solar Jobs, But Slips to No. 2 for Metro Areas

L.A.’s solar power industry grew by 11 percent in 2016 over 2015, but dropped to second place for most solar-related jobs in the nation’s metropolitan areas, according to a report issued Tuesday by the Solar Foundation, a Washington D.C. nonprofit dedicated to promoting the solar power industry.

Movers for Week Ending March 24, 2017

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.

Trump’s Ban On Travel Hits Home in L.A.

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.

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Trump’s Ban On Travel Hits Home in L.A.

REAL ESTATE: Brokers see foreign buyers scuttle deals.

Immigration concerns have some foreign buyers moving out of local deals.

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Hiring Service Offers Insider’s Edge to Job Seekers

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 Sells Stake in tronc Back to Company

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.

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Purple Squirrel Secures $2.7 Million in Seed Funding

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.

Movers for Week Ending March 17, 2017

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.

Celebrities Become Well-Known as Tech Funders

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.

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