Matt is a finance reporter covering venture capital and private equity.
Calabasas specialty finance firm Fast A/R Funding announced Monday that it has acquired Continental Business Credit in Woodland Hills, a fellow specialty finance firm and asset-based lender. Terms of the deal were not disclosed.
FOOTWEAR: Skechers’ finance chief credits new items for record quarter.
Skechers credits its design team for stepping up and helping deliver the shoemaker’s best earnings ever.
LENDING: Westlake Financial puts Uber’s drivers behind wheels.
Westlake Financial Services gets on board with Uber by providing loans to the ridesharing service’s low-credit drivers.
Beverly Hills firm Platinum Equity announced Monday that it has acquired Ying Shing Enterprises Ltd., a Hong Kong injection molding and metal stamping company. Terms of the deal were not disclosed.
The Department of Labor announced Tuesday that it has filed a lawsuit against downtown L.A.’s City National Bank and several of the company’s officers, alleging the bank charged the company’s retirement plan excessive fees that cost employees more than $4 million, violating the federal Employee Retirement Income Security Act.
Pasadena’s Community Bank reported strong first quarter earnings after markets closed Friday, growing its net income by 8 percent from the same period last year.
LENDING: Local institutions to challenge national names for piece of growing sector.
Private equity firms have built a reputation of moving fast and doing big, flashy deals that banks can’t – or won’t – do.
FINANCE: Startup hopes to spur remittance shops to jump online.
WireCash looks to help remittance shops get a line on the future by translating their business to the Internet.
City National Reports Strong Earnings Downtown Los Angeles’ City National Corp., parent of City National Bank, reported first-quarter earnings on April 23 that met analyst expectations.
Antony Ressler, the chief executive of Century City private equity and debt firm Ares Management, has agreed to buy the National Basketball Association’s Atlanta Hawks for about $850 million, sources told ESPN.