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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
Tocaya Organica, Tender Greens Set Merger
Fast-casual restaurant chains Tender Greens and Tocaya have agreed to merge.
Zest Gives Credit Scores a Reboot
Burbank-based ZestFinance Inc. is focused on developing credit underwriting standards and software to improve credit scoring methods.
GLP Capital Raises $2.3 Billion for Logistics-Related Real Estate
A well-heeled Santa Monica-based private equity investment manager has raised more than $2.3 billion to buy logistics-related real estate.
City National Bank Adds Branches, Doubles Workforce
Downtown-based City National Bank has opened more branches during the pandemic, a move that other banks have shied away from as they’ve embraced closures.
Hope Bancorp to Repurchase $50 Million in Stock
Hope Bancorp Inc., the Koreatown-based holding company of Bank of Hope, announced plans to repurchase up to $50 million of its common stock.
Jay-Z, Will Smith Back Home Fintech Startup
Los Angeles billionaire and business mogul Shawn “Jay-Z” Carter, who ranked No. 45 on the Business Journal’s 2020 Wealthiest Angelenos list, participated in a $165 million raise for a company that helps people with blemished credit records buy a home.
Former CBS Execs Team for $300 Million Media SPAC
Special purpose acquisition company will focus on media, entertainment and sports.
Faraday Future Goes Public in $1 Billion Deal
Beleaguered electric vehicle company Faraday Future Inc. made its debut as a public company July 22.
Laylo Raises $3 Million From Eldridge-Led Group
Laylo, a tool that helps musicians and influencers connect directly with fans on TikTok and YouTube, raised $3 million in a seed round led by L.A. sports team owner Todd Boehly.
Barrack Pleads Not Guilty in Federal Lobbying Case
Thomas Barrack — one of L.A.’s biggest private equity investors — pleaded not guilty to federal lobbying charges.
Struggling MedMen Seeks Restructuring, Turnaround
Culver City-based cannabis retailer MedMen Enterprises Inc. is pinning its hopes on a turnaround specialist who’s already making progress with a difficult restructuring.
Platinum Equity Buys Aviation Parts Supplier Unical
Beverly Hills-based private equity firm Platinum Equity has agreed to buy aerospace supply services provider Unical Aviation Inc. and certain of its affiliates.
Barrack Out on Bail, Abandons SPAC Plans
Thomas Barrack, the private equity investor who's facing federal lobbying charges, has withdrawn plans to raise $250 million for his special acquisition purpose company.
5th Kind Nabs $5 Million Private Equity Investment
5th Kind Inc., the maker of a software management tool used to track film productions remotely, received $5 million from a private equity firm.
Payday Lending Tumbles 39% During Pandemic
California’s payday lenders saw a huge drop in the number of loans and dollar volume during the pandemic.
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