Los Angeles Business Journal

LA FINANCE

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

Regulators Bless Bank Deal

Two Los Angeles banks are one step closer to merging after announcing Thursday they have received all approvals from government regulators.

Stocks Down

The Dow Jones industrial average fell 264 points in Thursday trading to close at 16,946. The S&P 500 fell 32 points to 1,966. The Nasdaq fell 88 points to 4,467. The LABJ stock index fell three points to 200

Stocks Up

The Dow Jones industrial average rose 154 points in Wednesday trading to close at 17,210. The S&P 500 rose 16 points to 1,998. The Nasdaq rose 47 points to 4,555. The LABJ stock index rose one point to 202.

Stocks Fall

The Dow Jones industrial average fell 117 points in Tuesday trading to close at 17,056. The S&P 500 fell 12 points to 1,983. The Nasdaq fell 19 points to 4,509 The LABJ stock index fell two points to 201.

BBCN Expands Into Korea

Koreatown’s BBCN Bancorp Inc. announced Monday that it would be taking its business to Seoul, South Korea’s capital city. The company signed a memorandum of understanding with the city, affirming its plans to expand operations there and work to promote Seoul’s Yeouido International Financial District as an Asian financial hub.

Stocks Fall

The Dow Jones industrial average fell 107 points in Monday trading to close at 17,173. The S&P 500 fell 16 points to 1,994. The Nasdaq fell 52 points to close at 4,528. The LABJ Stock Index fell three points to 203.

Conversant, NetSol Technologies Among Week’s Big Movers

The Los Angeles Business Journal’s index of the area’s largest public companies was flat for the week.

Stocks Crawl

The Dow Jones industrial average rose 14 points in Friday trading to close at 17,280. The S&P 500 was down a point to 2,010. The Nasdaq fell 14 points to close at 4,580. The LABJ Stock Index was flat at 206.

Smart & Final IPO Set for Next Week

Commerce warehouse retailer Smart & Final Stores Inc., which filed for an IPO in June, will begin trading Wednesday according to Reuters PEHub. The company will offer about 13.5 million shares, priced between $12 and $14. At the midpoint of that range, the IPO would raise about $175 million and value Smart & Final at about $925 million.

L.A. Unemployment Stays at 8.1 Percent

L.A.’s unemployment rate held steady at 8.1 percent for August even as the county gained nearly 18,000 jobs as some schools reopened after summer vacation, according to state figures released Friday.

Stocks Up

The Dow Jones industrial average rose 109 points in Thursday trading to close at 17,266. The S&P 500 rose 10 points to close at 2,011. The Nasdaq rose 31 points to close at 4,593. The LABJ Stock Index was flat at 205.

Pershing Square Overhaul Gets $2 Million Boost

Efforts to overhaul Pershing Square, a five-acre urban park spanning a full city block in the heart of downtown Los Angeles, got a major boost Wednesday when a San Francisco real estate developer and the city together pledged $2 million to its revitalization.

Chinese Investment Group Sets Flag in Burbank

Burbank Civic Plaza, a Class A office building in the city’s civic center, has sold to a Chinese investment group for $22 million, or about $287 a square foot.

Stocks Climb

The Dow Jones industrial average rose 25 points in Tuesday trading to close at 17,157. The S&P 500 rose three points to close at 2,002. The Nasdaq rose nine points to close at 4,562. The LABJ Stock Index was flat at 205.

Stocks Rise

The Dow Jones industrial rose 101 points in Tuesday trading to close at 17,132. The S&P 500 rose 15 points to close at 1,999. The Nasdaq rose 34 points to close at 4,553. The LABJ Stock Index rose one point to close at 205.