Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

“Vulnerable” American Apparel Downgraded by S&P

Standard & Poor’s downgraded American Apparel Inc.’s credit rating on Friday, saying a restructuring of the downtown L.A. clothier appeared inevitable. The rating agency lowered American Apparel’s corporate credit rating to CCC- from CCC. It also dropped the rating on the company's $200 million in senior secured notes to CC from CCC-.

Bank of America Appeals Countrywide Verdict

Bank of America Corp. has asked for a federal judge to overturn a jury verdict that found it liable for thousands of bad mortgages sold by its Countrywide unit, leading to a $1.3 billion judgment.

Biosolar Inc., Trio Tech Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of the largest public companies rose for the week.

Internet Clicks With Low Rates

In what could be a revival of an old fight, local Internet companies are pushing L.A. city officials to extend the low business tax rate the city carved out for them four years ago.

Different Tune

L.A. pop artist Georgia Jane can thank her grandfather for helping kick-start her professional music career – one that has turned out to be groundbreaking and, so far, unique.

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

The Dow Jones industrial average rose 19 points in Friday’s trading to 17, 098 The S&P 500 rose 7 points to 2,003. The Nasdaq rose 23 points to 4,580. The LABJ Stock Index was flat at 207.

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Snapchat Expands Our Story with ‘Live’ Section

Snapchat’s summer rollout of new features isn’t over yet. The photo and video mobile messenger announced it is adding a new section called “Live” where users can see real-time updates from events throughout the world.

Dollar Shave Club to Exceed $60 Million in Sales

The Dollar Shave Club is lathering up a profitable year. Co-founder and Chief Executive Michael Dubin said the razor subscription service is on track to exceed $60 million in 2014 sales, three times what the company sold last year.

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L.A. Launch List

The Los Angeles Business Journal brings you a weekly roundup of L.A. launches.

JustFab Raises $85 Million, Eyes IPO

JustFab, the online fashion retailer that offers a monthly subscription for customized shopping, has raised $85 million as it looks toward filing for an initial public offering of its stock.

Collective Digital Studio Relaunches Fred Channel

Collective Digital Studio, a digital media management company, is relaunching the tween-friendly YouTube channel Fred.

Los Angeles Real Estate More Valuable Than Ever

The value of the taxable property in city of Los Angeles rose by 6 percent over last year’s figure, according to the 2014 Annual Report released on Wednesday by the Los Angeles County Office of the Assessor. The assessed values are the foundation of the property tax system and are used to divvy up tax revenue.

Amgen Seeks Cholesterol Drug Approval

Amgen Inc. announced on Thursday that it will seek U.S. government approval to sell pipeline drug evolocumab that has significantly reduced cholesterol for patients in clinical trials.

Poll: If you were to get a pre-paid debit card, which would you rather have on it?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition.

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

The Dow Jones industrial average fell 42 points in Thursday’s trading to 17,080. The S&P 500 fell three points to 1,997. The Nasdaq fell 12 points to 4,558. The LABJ Stock Index was flat at 207.

Yekra Launches Digital Distribution Theater

Yekra, a digital film distributor in the Arts District, is launching an embeddable “theater” that allows websites to customize and curate their own digital marquee of movies and video content.

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Honest Co. is Still Just a Startup, Says Co-Founder Brian Lee

Honesty just might be the best policy – at least it is for the Honest Co. and its eco-friendly, non-toxic baby products. The Santa Monica company announced Tuesday it raised $70 million in Series C funding as it prepares to file an IPO.

Google to Move in Old Hughes Hangar?

Google is waiting in the hangars for a piece of L.A real estate, according to a Wall Street Journal report that says the company wants to expand its corporate offices in Los Angeles.

Gov. Brown Signs Deal Tripling State Film Tax Credit

Gov. Jerry Brown reached an agreement on a bill on Wednesday that would more than triple funding for California's film and TV tax-credit program.

Surges Cause Closures at Port of Long Beach

Hurricane Marie sent 10- to 15-foot waves into the Port of Long Beach on Wednesday, causing the port to suspend some vessel operations for the day to keep longshore workers out of danger.