Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

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Airbnb to Pay Hotel Taxes to City of Los Angeles

Airbnb will begin to collect and pay hotel taxes on behalf of L.A. properties that are rented on its website starting Aug. 1, per a three-year agreement with the City of Los Angeles.

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Playa Vista Office Primed for $165 Million Sale

The Playa Jefferson office campus in Playa Vista is set to sell for $165 million, or $843 a square foot, putting it in league with Playa Vista’s priciest office sales. Rockwood Capital is slated to pick up the 195,668-square-foot site in a deal closing next week, according to sources familiar with the transaction.

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Silicon Beach Report July 15: SpaceX to Launch Ninth Resupply Mission

SpaceX launches ninth resupply mission, Jacobs Engineering Group sells off French subsidiary, Hyperloop pod competition postponed, and more.

Movers for Week Ending July 15, 2016

Los Angeles-based Spark Networks Inc. was this week’s biggest mover, gaining 25 percent to end at $1.82. West Los Angeles-based Marathon Patent Group was also among the week’s big movers. The patent asset acquisition group gained 15 percent to end at $3.10. Mailing and shipping company Stamps.com was the week’s biggest loser, dropping 13 percent to end at $74.72.

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Herbalife Stock Jumps After $200 Million FTC Settlement

Herbalife Ltd. agreed Friday to pay $200 million and change its business model as part of a settlement that ends a two-year probe by the Federal Trade Commission. Crucially, however, the downtown-based company avoided being labeled as a pyramid scheme by federal regulators.

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SpaceX to Launch Ninth Space Station Resupply Mission

Space Exploration Technologies Corp. of Hawthorne is scheduled to launch one of its rockets on a resupply mission from Cape Canaveral Air Force Station in Florida to the International Space Station on Monday, July 18.

BBCN and Wilshire Bank Shareholders Approve Merger

Shareholders at the nation’s two largest Korean-American banks, both based in Koreatown in Los Angeles, approved a merger Thursday, according to a press release.

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SPECIAL REPORT: Rental Rates Rise as Office Vacancies Dip

Office vacancy rates in Los Angeles County tightened slightly in the second quarter, with rental rates reaching record peaks.

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Bijan Store on Rodeo Drive Sells for At Least $67 Million

Bijan’s yellow store on Rodeo Drive just sold for what the seller’s brokers are describing as a record value per square foot, hitting above last year’s sale of the Chanel building on Rodeo. That site sold for $13,217 a square foot, or $152 million.

Silicon Beach Report July 14: RealD Acquires Tessive

RealD Acquires Tessive, L.A., tech executives denounce Donald Trump, Airbnb conviction in Santa Monica, and more.

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Judge Denies Restraining Order Request Targeting Former Hyperloop One Lawyer

A swarm of allegations continues to buzz around futuristic transportation company Hyperloop One in the wake of an ugly personnel shakeup, but former general counsel Afshin Pishevar – brother of company co-founder and board chair Shervin Pishevar – got some good news in court Thursday.

Having an Impact in the Workplace Matters Most to Millennials

Knowing their work makes a difference is the most important thing for millennial employees, according to the results of an online survey of almost 900 executives from around the world conducted by Century City-based global organizational advisory firm Korn Ferry in June.

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‘Game of Thrones’ Dominates Emmy Nominations

Netflix and “Game of Thrones” dominated the list of nominations for the 68th Emmy Awards, which were announced Thursday morning.

Snapchat Ranked Second Nationally in Funding Last Quarter

Snapchat raised the second-most amount of money out of all venture capital-backed companies in the country during the second quarter, according to a report released by Dow Jones VentureCapital.

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Yamashiro Restaurant in Hollywood Ready for Revamp

The future of Japanese restaurant Yamashiro in Hollywood is looking brighter following a period of flux after the property sold to a Chinese hotel company. The eatery recently reopened under new management by companies Boulevard Nightlife Group and Sugar Factory, which are planning upgrades to the space and the menu.

Silicon Beach Report July 13: Virtual Reality Society Launched

Virtual Reality Society launched, Fullscreen hires Vevo’s Scott Reich, and online camera rental startup ShareGrid Raises $1 million.

Universal's Film Chief Detained and Barred From Russia

In an apparent escalation of diplomatic tit for tats, NBC Universal’s film chief Jeff Shell said he was denied entry into Russia and detained by that country’s authorities for about five hours.

New Era Cap Signs Multiyear Deal With L.A. Live Owner AEG

L.A. Live has a new founding partner. Buffalo, N.Y.-based New Era Cap Co. signed a multiyear deal with complex owner AEG to become the official headwear provider for the downtown sports and entertainment campus. Financial terms were not disclosed.

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Chapman Plaza Sells as Koreatown Hotspot

Seizing on Chapman Plaza’s appeal as a hip dining and nightlife scene, ArcWest Partners has purchased the Spanish revival-style marketplace in Mid-Wilshire.

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Silicon Beach Report July 12: Hyperloop One, Its Chairman Sued by Co-Founder

Hyperloop One and its chairman sued by co-founder, Virgin Galactic to restart spaceship testing, Disney Accelerator names 2016 class, and more.