Los Angeles Business Journal

President Calls for ‘Economic Patriotism’ in L.A. Speech

In an address at Los Angeles Trade Technical College, President Barack Obama called for more job training and also criticized U.S. firms seeking tax breaks by moving overseas. The Los Angeles Daily News and Los Angeles Register have coverage.

Fox Sells Italian, German Units

The sale of 21st Century Fox’s pay television units in Italy and Germany to British Sky Broadcasting Group for more than $9 billion may give Fox more power to continue its attempts to buy Time Warner, the New York Times said.

Koreatown Towers Sold for $283 Million

The Vermont towers in Koreatown sold for $283 million to Capri Capital Partners of Chicago and TruAmerica Multifamily of Los Angeles, the Los Angeles Times reported.

Pasadena Group Envisions Experimental Spacecraft

The Planetary Society of Pasadena has taken a lead role in working on a project called LightSail, a relatively inexpensive satellite that employs a solar sail to move through outer space, according to the Los Angeles Times.

Skanska Gets Westside Subway Contract

The Metropolitan Transportation Authority board awarded a $1.6 billion contract for the first phase of a project to extend the Purple Line westward to a Skanska USA-led group despite a lower bid, the Los Angeles Times reported.

Storage Tank Company to Pay EPA Fine

Rancho LPG Holdings in San Pedro will pay a $260,000 EPA penalty after being cited for having insufficient safety information for earthquake-related risks, the Los Angeles Times reported.

California’s White Collar Employment Booming

The rate of job growth in the state’s well-paying professional service occupations such as engineering, law and consulting has more than doubled that of overall employment since the end of the recession, the Los Angeles Times said.

Google to Explore Human Anatomy

Search engine firm Google’s new project, the Baseline Study, will involve the genetic and molecular analysis of human bodies in an attempt to find biological patterns that will help doctors diagnose diseases, the Wall Street Journal said.

Big SUVs Keep G.M. Moving

Sales of large SUVs are a significant boon to G.M. as the automaker copes with billions in costs related to safety problems, especially a malfunctioning ignition switch that led to major vehicle recalls, according to the New York Times.

Burger King’s Youth Movement

Burger King Chief Executive Daniel Schwartz is in his early 30s and two of the fast food company’s other top executives are in their 20s. The youthful leaders are running the company at a time when consumers prefer fancier eateries, Bloomberg Businessweek reports.

Stocks Down

The Dow Jones industrial average fell 147 points in Friday morning trading to 16,936. The S&P 500 was down 12 points to 1,976. The Nasdaq was down 36 points to 4,436.

Dow Jones, Nasdaq Down; S&P Up; LABJ Flat

The Dow Jones industrial average fell 3 points in Thursday’s trading to close at 17,084. The S&P 500 rose a point to 1,988. The Nasdaq dropped 2 points to 4,472. The LABJ Stock Index was flat at 200.

Testimony Concludes in Sterling Case

Testimony concluded Wednesday in the probate case between Los Angeles Clippers co-owners and estranged spouses Donald and Shelly Sterling to decide whether the latter had the right to negotiate a $2 billion sale of the NBA team. Both sides are scheduled to return to court Monday for closing arguments, according to the Associated Press.

CEOs Demand Tax Reform

The chief executives of Eli Lilly and Caterpillar said during interviews on CNBC that that U.S. corporate taxes need to be lowered and reformed in response to concerns over so called inversions, or companies leaving the country to seek lower taxes.

Algerian Jet Crashes, Lost Over Mali

An Air Algerie flight with 116 passengers is believed to have crashed in Mali after taking off in Burkina Faso. The plane may have gone down in an area where Islamist militants are battling the Malian government and French military, the Wall Street Journal reported.