LA BUSINESS JOURNAL DAILY NEWS

LA Consumer Confidence Rebounds in 4th Quarter

After nearly two years of declines, L.A. consumer confidence rebounded in the fourth quarter, according to a survey released Jan. 16.

Uniqlo Founder Donates $25 Million to UCLA

UCLA has received a $25 million gift from Uniqlo founder Tadashi Yanai for a Japanese literature and culture studies initiative.

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Cedars-Sinai Opens Urgent Care Clinic in West LA

Cedars-Sinai announced the opening of its fourth urgent care clinic — this one in West Los Angeles.

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Xencor Licenses HIV Drugs to Pharma Giant Gilead

Monrovia-based biopharma firm Xencor Inc. reached a licensing deal with pharma giant Gilead Sciences Inc. to develop a group of antibody drugs to treat HIV.

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USC’s Ellison Institute to Open Smart Building in Silicon Beach

USC’s Ellison Institute for Transformative Medicine will open a “smart” facility with advanced wireless technologies in Silicon Beach later this quarter.

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Nadine Watt Named Watt Cos. CEO

Nadine Watt has been named chief executive of Santa Monica-based Watt Cos. after nine years as president.

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Molson Coors to Quit Irwindale Brewery

Molson Coors Beverage Co. said it will cease operations at its Irwindale brewery by September and has offered the facility to Pabst Brewing Co. for $150 million.

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Tencent Buys Stake in Universal Music Group

China-based Tencent Holdings announced an agreement to purchase 10% of Santa Monica-based Universal Music Group's share capital.

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Wedbush Securities Founder Dies at 87

Edward Wedbush launched brokerage in 1955

Edward Wedbush, founder of Wedbush Securities Inc., passed away at his home in Rancho Santa Fe.

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Molina Healthcare to Acquire Chicago Medicaid Provider for $50 Million

Molina Healthcare Inc. agreed to acquire Chicago-based managed care insurer NextLevel Health Partners Inc. in a deal valued at about $50 million.

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EA Taps Zampella to Lead DICE Los Angeles

Electronic Arts chose veteran gaming executive Vince Lampella to lead the Los Angeles office of its subsidiary game developer, DICE.

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Snap Acquires AI Factory for $166 Million

Santa Monica-based Snap Inc. paid $166 million to acquire AI Factory Inc., a San Francisco-based startup founded by Snap's director of engineering.

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Construction Consulting Firm Cumming Names New COO, President

Construction consulting firm Cumming has named a new chief operating officer and a new president.

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Westlake Financial Strikes Canadian Partnership

Hancock Park-based Westlake Financial Services Inc. and sister company Nowcom Corp. entered into a strategic partnership with Canadian auto finance company Source One Financial Corp.

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Culver City Office Buildings Sell for $74 Million

Redcar Properties has purchased the Westside Jefferson Business Park in Culver City for $73.5 million.

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LAX Passenger Traffic Down 3% in November as Slide Spreads to Domestic Travel

November passenger traffic at Los Angeles International Airport fell 3% from a year earlier.

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Montage Beverly Hills Sells for Estimated $415 Million

British company pays record per-room price for Beverly Hills property

The 201-room Montage Beverly Hills hotel has sold for an estimated $415 million.

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Kennedy Wilson Raises $775 Million

Beverly Hills-based Kennedy Wilson has secured $775 million in capital commitments.

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Unemployment Holds Steady in L.A. County as Hiring Surge Continues

L.A. County’s unemployment rate held steady in November for the third straight month, according to state figures.

Analysts Surprised by Exec Departures at Green Dot

CEO Streit and CFO leave fintech company

Green Dot Corp. founder and CEO Steve Streit will step down after 20 years at the helm.

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