Los Angeles Business Journal

LA FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Hotel Project Would Dig Deep for Beverly Hills

DEVELOPMENT: China’s Dalian Wanda OK with additional taxes, fees.

Chinese developer Dalian Wanda Group is poised to pay megabucks to the city of Beverly Hills in an unprecedented development deal for the construction of its elite condo-hotel project, One Beverly Hills.

Houlihan Announces Strong Second Quarter Earnings

Century City investment bank Houlihan Lokey Inc’s second quarter earnings report showed revenues were up 18 percent over the same period last year with the company bringing in $187 million in the second quarter.

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Trump’s L.A. Golf Course Still Carrying Handicap

REAL ESTATE: Property value may lie in residences.

Donald Trump is still looking for the green from his 2002 acquisition of an L.A. golf course.

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Ad Tech Firm Restocks Brass, Jumps to Nasdaq

INTERNET: Social Reality hires new CFO, turns to Kathy Ireland for advice.

Ad tech firm Social Reality boards Nasdaq on the back of acquisition-fueled growth.

Axium International CEO John Visconti Convicted of Tax Fraud

John Visconti, former chief executive of Axium International Inc., was convicted on Tuesday of tax evasion, conspiracy to defraud the Internal Revenue Service, and filing a false tax return.

Siemer & Associates Acquired by Chinese Firm CEC Capital Group

CEC Capital Group has reached a deal to acquire Santa Monica’s Siemer & Associates, a boutique advisory firm specializing in the media and technology space.

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Lawsuit Flares Up Over $122 Million Sale of Bijan Store

A pair of Los Angeles-based businessmen who said they helped arrange the $122 million sale of the Bijan store on Rodeo Drive in July are suing two fashion companies connected to the deal, claiming to be owed a finder’s fee.

Tetra Tech Part of $400 Million Army Base Cleanup Contract

Water Consulting and Engineering Firm Tetra Tech Inc. announced today it was chosen as one of seven contractors eligible to receive up to $400 million in federal dollars to aid the environmental cleanup of old U.S. Army bases.

County Unemployment Rate Ticks Up to 5 Percent, But Job Growth Strong

L.A. County’s unemployment rate rose slightly in September to 5 percent despite relatively strong job growth for the month, state figures released Friday show.

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Slice of Pie

DINING: Pizza chain Fresh Brothers cuts in investor to feed growth.

Fresh Brothers decides to take dough from Nolan Capital to feed the pizza chain’s expansion.

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Big Apple Firm Has Taste for Downtown Office

ACQUISITION: Tishman Speyer pays $25 million for couple of properties.

The company that owns New York’s Rockefeller Center is making a foray into L.A.’s up-and-coming Arts District.

Movers for Week Ending October 14, 2016

El Segundo-based sporting goods retailer Big 5 Sporting Goods was this week’s biggest mover, gaining 8 percent to end at $16.99. Kilroy Realty Corp. Real Estate Trust was also among the week’s movers. The DTLA real estate corporation gained 5 percent to end at $70.11. Specialty pharmaceutical company Ritter Pharmaceuticals Inc. was this week’s biggest loser, dropping 14 percent to end at $1.70.

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Veteran Investors Step Up to Plate With E-Sports

INTERNET: Peter Guber-led acquisition of Team Liquid could prove game-changer.

Peter Guber has drafted a veteran team of investors in his move into the e-sports field

Wells Fargo CEO John Stumpf to Step Down

Wells Fargo & Co. announced today that the company’s Chief Executive John Stumpf is retiring and will step down as chairman and chief executive, effective immediately.

Movers for Week Ending October 7, 2016

Century City-based pharmaceuticals company Ritter Pharmaceuticals Inc.was this week’s biggest mover, gaining 17 percent to end at $1.97. Big 5 Sporting Goods Corp. was also among the week’s movers. The El Segundo-based sporting goods retailer gained 16 percent to end at $15.74. Patent acquisition company Marathon Patent Group was this week’s biggest loser, dropping 14 percent to end at $2.42.