Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Banker Charged with Allegedly Taking Bribes from Santa Monica Company

Executives at Santa Monica-based ServiceMesh Inc. raked in nearly $100 million in bonus cash by bribing a former Australian banking executive, according to charges filed Tuesday by federal prosecutors and the Securities and Exchange Commission against the banker.

Silicon Beach Report Sept. 27: SpaceX’s Elon Musk Reveals Mars Mission Plans

SpaceX’s Elon Musk reveals Mars mission plans, Jukin Media adds marketing division, Peter Guber and investors buys e-sports team.

Wells Fargo Faces Class-Action Lawsuits from Shareholders, Workers

One week after Wells Fargo’s chief executive faced a federal hearing over the bank’s numerous transgressions, the company now faces a multitude of lawsuits filed by customers, shareholders, and former employees.

Muirfield Acquired by New York Public Relations Powerhouse

Public relations powerhouse Prosek Partners has acquired Westwood-based Muirfield Partners for an undisclosed amount of cash and equity from Muirfield founder Mickey Mandelbaum.

Silicon Beach Report Sept. 26: Snapchat Changes Its Name, Unveils Sunglasses with Camera

Snapchat changes its name and unveils sunglasses with camera, Disney in talks to buy Twitter, SpaceX test fires Mars rocket and more.

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Tesla’s Santa Monica Shop Sells for $15.6M

Tesla Motors’ sleek storefront on Santa Monica’s Third Street Promenade has sold for about $15.6 million, or roughly $5,200 a square foot.

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Onni Closes Monday on $105M Purchase of Times HQ

Tribune Media Co. finalized its sale of the Los Angeles Times building to Onni Group on Monday for at least $105 million.

Councilman Calls for Autonomous Driving in Los Angeles by 2035

L.A. City Councilman David Ryu filed a motion Wednesday requesting that the Los Angeles Department of Transportation examine the effects of having an “autonomous transit city” and suggest steps needed to ensure the city is driverless by 2035.

Movers for Week Ending Sept. 23, 2016

Century City-based Ritter Pharmaceuticals was this week’s biggest mover.

Silicon Beach Report Sept. 23: SpaceX Rocket Explosion Investigation Makes Some Progress

SpaceX rocket explosion investigation makes some progress, IGN launches channel to cover virtual reality, and Gamblit Gaming adds racing game to casino floors.

L.A. Garment Manufacturers Fined for Labor Law Violations

The California Labor Commissioner’s Office fined 18 Los Angeles garment manufacturers and contractors more than $682,000 this month for labor law violations, the office announced Friday.

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New York Investor Nabs Hollywood Apartments for $109 Million

New York Life Real Estate Investors picked up the Rubix Hollywood apartments this month for $109 million.

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Beverly Grove Retail Buyer Has Bigger Plans

An 8,800-square-foot retail site in Beverly Grove just sold for $7.5 million with plans for a larger development.

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Echo Park Retail Revival in the Works

A retail complex on a gritty stretch of Glendale Boulevard in Echo Park is prepping for a makeover.

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American Apparel Chief Executive to Step Down

Paula Schneider, chief executive of American Apparel, will reportedly step down from her post next month less than two years after taking the job.

Silicon Beach Report Sept. 22: SGN Renames Itself Jam City, Acquires Rights to ‘Peanuts’ Franchise

SGN renames itself Jam City as well as acquires rights to ‘Peanuts’ franchise, ULA sends Pentagon letter criticizing SpaceX explosions, Tinder invests in Hey Vina!, and more.

SGN Renames Itself Jam City, Acquires Rights to ‘Peanuts’ Franchise

SGN has renamed itself Jam City in a rebranding effort aimed at better reflecting its portfolio of games.

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Nine Local Cities Named Finalists for Most Business-Friendly City Award

Nine cities in Los Angeles County have been named as finalists for the most business-friendly award to be handed out this fall by the Los Angeles County Economic Development Corp.

Port of Long Beach Names New CEO

The Port of Long Beach is getting a new interim chief executive.

Silicon Beach Report Sept. 21: Faraday Future’s Main Backer Receives $1B to Pursue Electric Cars

Faraday Future’s main backer receives $1 billion to pursue electric cars, Hulu orders two virtual reality shows, job candidate screening startup Imbellus raises $4 million, and more.