LA BUSINESS JOURNAL DAILY NEWS
L.A.’s Unemployment Rate Dips Into Single Digits
Los Angeles County’s economic recovery notched a milestone in April when the unemployment rate fell to 9.9 percent, the first time it was below 10 percent since December 2008, according to state figures released Friday.
Sale of Carson Refinery Approved
Tesoro Corp. on Friday said it received approval from state and federal regulators to buy BP Plc’s oil refinery in Carson and other assets.
Iger Makes $39.7 Million on Disney Stock Sale
Bob Iger’s salary was $40.2 million last year. But he made nearly as much in a day with a recent stock sale.
Puma, Mannkind Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies continued to gain this week, in line with the larger markets.
Markets Rise
In Friday trading, the Dow Jones industrial average closed up 121 points to 15,354. The Nasdaq rose 34 points to 3,499. The S&P 500 rose 16 points to 1,666. The LABJ Stock Index rose 1 point to 169.
Ticketmaster Settles Lawsuit Over Rewards Program
Ticketmaster will settle claims for up to $23 million, after customers claimed they were charged $9 a month for a rewards program when they bought concert tickets but did not get any benefit, according to a news report.
Wesco Awarded Airbus Contract
Valencia aerospace parts supplier Wesco Aircraft Holdings Inc. has received a contract to supply European aircraft manufacturer Airbus SAS with fasteners and hardware components.
Markets Fall
In Thursday trading, the Dow Jones industrial average closed down 42 points to 15,233. The Nasdaq fell 6 points to 3,465. The S&P 500 fell 8 points to 1,650. The LABJ Stock Index fell 2 points to 168.
Poll: Would You Want People to Know You Were One of the Wealthiest Angelenos?
READER POLL
The Los Angeles Business Journal has posted a new weekly poll for readers on issues in the news.
L.A. Port Numbers Fall, Long Beach’s Rise
The Port of Los Angeles saw container volume fall more than 9 percent in April compared with a year earlier, while the Port of Long Beach saw a 13 percent increase.
Kite Pharma Gains New Backer
Kite Pharma Inc., a cancer drug developer, has raised $20 million in a private placement of preferred stock that included its existing backers and a new investor.
Skechers Swings to Profit
Skechers USA Inc. said that it moved to a profit in the first quarter, as sales increased for its performance footwear.
Ryland Raises $250 Million in Note Offering
Westlake Village homebuilder Ryland Group Inc. on Wednesday sold $250 million in a convertible note offering.
PacWest, First California Merger Gets Final Approval
Century City’s PacWest Bancorp has received final approval from federal regulators for its $231 million stock acquisition of Westlake Village’s First California Financial Group Inc.
Markets Gain on Wednesday
In Wednesday trading, the Dow Jones industrial average rose 60 points to close at 15,276. The Nasdaq rose 9 points to 3,472. The S&P 500 rose 8 points to 1,659. The LABJ Stock Index rose 1 point to 170.
Pheed App Heads to Android
Pheed quietly made the Android version of the app available for download earlier this week.
Manatt Launches Digital Media Investment Arm
Manatt announced Wednesday that it has brought on technology entrepreneur and digital media veteran Peter Csathy to run the investment operation, Manatt Digital Media Ventures.
Bellisio Foods to Buy Overhill Farms for $81 Million
Bellisio Foods Inc. on Wednesday said that it has agreed to buy Vernon frozen foods supplier Overhill Farms Inc. for about $81 million in cash.
Ernst & Young Names Entrepreneur of the Year Finalists
Ernst & Young LLP has announced the Los Angeles area finalists for its Entrepreneur of the Year award.
Casden Sells Apartment Complex in Burbank
Struggling Beverly Hills real estate developer Alan Casden has sold a 276-unit luxury apartment complex in Burbank that he built in 2010.
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