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Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

B. Riley Acquires FocalPoint Securities for $175 Million

B. Riley Financial Inc. has acquired independent investment bank FocalPoint Securities for $175 million.

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LA County Unemployment Rate Falls to 8.4% in December

Los Angeles County’s unemployment rate fell to 8.4% in December from 8.9% in November and 9.4% in October amid robust hiring.

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CAA Parent Company TPG Sets IPO Share Price

The parent company of Creative Artists Agency and DirecTV set the price of its initial public offering with 33.9 million shares of Class A common stock at $29.50 per share.

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How LA-Based Public Company Stocks Performed in 2021

Buoyed by the city’s position as a global leader in finance and technology, publicly traded companies in Los Angeles in 2021 maintained the previous year’s strong performance though, overall, it did not show the same gains as major market indexes.

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Dave Inc. to Make Nasdaq Debut in January

Dave Inc., a West Hollywood-based fintech and banking app company aimed at “leveling the financial playing field,” will go public on the Nasdaq under the tickers DAVE and DAVEW in early 2022.

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Fintech Launches Crypto Bank Account for Hispanics

A West Hollywood-based fintech announced the launch of a banking program Dec. 20 aimed at building Hispanic wealth through stakes in the crypto sector.

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RBB Bancorp Buys Gateway Bank for $23 Million

Westlake-based RBB Bancorp announced its entry into the San Francisco Bay Area Dec. 28 with the purchase of Gateway Bank F.S.B. in Oakland, a deal valued at approximately $22.9 million.

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LA County Unemployment Fell to 8.9% in November Amid Gain in Jobs

Los Angeles County’s unemployment rate fell to 8.9% in November from 9.4% in October amid a hiring surge that saw employers in the county add 43,000 payroll jobs.

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Business Managers Land Starring Roles in Celebrity-Branded Business Ventures

Spurred by peers occasionally hitting jackpots, Hollywood talent has been diversifying into entrepreneurial side ventures in which, in a new twist, their business managers and lawyers take frontline roles.

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Ares Management Closes $14 Billion Fund

Century City-based Ares Management Corp. announced the final closing of its Senior Direct Lending Fund II Dec. 13 with an anticipated $14 billion total capital base, including expected leverage.

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EVe Mobility Launches With $250 Million IPO

Scott Painter, a prolific entrepreneur whose portfolio of current and past ventures include Santa Monica-based NextCar Holding Co. Inc., Fair Financial Corp. and TrueCar Inc., and El Segundo-based CarsDirect.com, is at it again.

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Oaktree SPAC to Merge With Pharma Company in $2B Deal

Oaktree Acquisition Corp. II will merge with Alvotech Holdings, a global biopharmaceutical company, to take the company public in the United States.

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Year Ahead Special Report: Your 2022 Roadmap

Tis the season for final planning, budget projections and preparations for the year ahead.

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2022 Year Ahead Special Report

Projects interrupted by Covid-19, supply chain delays or other issues are set to be completed next year and could significantly change the way people move through and do business in L.A. County.

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Disruptors: LA's Fastest Growing Private Companies

The fastest growing private companies in L.A. County have shown tremendous gains, not just in their revenue but also in how they innovate in their industries.

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