Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Second Sight Looks to Expand Patient Pool

Visual prosthetic-maker Second Sight Medical Products Inc. announced Wednesday it has successfully implanted and activated its vision-restoring system for the first time in a patient with age-related macular degeneration, part of a study that could lead to a much wider pool of potential customers for the firm’s groundbreaking product.

Wednesday Rundown: L.A. Club to Host 2023 U.S. Open, Jakks Shares Spike on Sales Boost

The Los Angeles Country Club will host the United States Golf Association’s U.S. Open in 2023, the association announced Wednesday.

Stocks Fall; Jakks Soars, CytRx Sinks

The Dow Jones industrial average fell 68 points in Wednesday trading to close at 17,851. The S&P 500 fell five points to 2,114. The Nasdaq fell 36 points to 5,172. The LABJ Stock Index rose one point to 240.

Citigroup Shuts Down L.A.’s Banamex After Money-Laundering Settlement

New York finance giant Citigroup Inc. announced Wednesday it will shut down its Los Angeles subsidiary Banamex USA after agreeing to a $140 million settlement with federal and California regulators over the bank’s failure to adequately monitor possible money laundering.

Reader Poll

Should cities strictly limit AirBNB rentals?

Rubicon Opens D.C. Office to Capture Campaign Ad Dollars

Digital advertising exchange Rubicon Project is opening an office in Washington to capture some what is expected to be nearly $1 billion in digital advertising spending by political campaigns.

Honest Co., in Expansion Mode, Will Move to Playa Vista

Honest Co., having signed a lease for more than 80,000 square feet in Playa Vista, will relocate from Santa Monica early next year.

Vubiquity to Transition Turner’s Cable Content

L.A.’s Vubiquity Tuesday announced a partnership with Atlanta’s Turner Broadcasting to convert cable television broadcasts into formats suitable for on-demand cable and Internet viewing.

CytRx Shares Plummet after Pricing Offering

Shares of Brentwood biotech firm CytRx Corp. tumbled Tuesday after the company announced it would price a forthcoming public offering of 9.1 million shares of common stock at $2.75 a share, well below where shares have been trading for most of the year.

Amgen’s Gains EU Approval for Anti-Cholesterol Drug

The European Commission has authorized Amgen Inc. to sell its anti-cholesterol drug Repatha, the company announced Tuesday.

WSJ: FCC Close to Approving AT&T-DirecTV Deal

Telecom giant AT&T’s proposed $49 billion acquisition of El Segundo satellite TV provider DirecTV could soon get the OK from federal regulators.

Tuesday Rundown: Kind Financial Launches Cannabis Banking Software, Saban Picks Up Hello Kitty Exec

Hollywood marijuana industry finance firm Kind Financial announced Tuesday that it has teamed up with former bank regulators to introduce software that the firm promises will allow cannabis businesses to remain compliant with bank regulations.

Stocks Fall; BreitBurn Energy Surges, CytRx Tanks

The Dow Jones industrial average fell 181 points in Tuesday trading to close at 17,919. The S&P 500 fell nine points to 2,119. The Nasdaq fell 11 points to 5,208. The LABJ Stock Index fell one point to 240.

Jacobs Scores High-Speed Rail Contract

Local companies continue to cash in on California’s high-speed rail project, with Jacobs Engineering Group Inc. in Pasadena announcing Tuesday it has been awarded the design services contract for the $1.2 billion second phase of the north-south rail line.

Regulators OK CIT-OneWest Deal

Just shy of a year after the deal was first announced, federal banking regulators have signed off on New Jersey lender CIT Group Inc.’s purchase of Pasadena’s OneWest Bank.

UCLA Medical Center Ranks Among Nation’s Top Hospitals

Several Los Angeles hospitals scored high marks in U.S. News & World Report’s Best Hospitals rankings released Tuesday morning.

Tease photo

L.A. Tech Investors to Guest Invest on ‘Shark Tank’

Besides a few moments of fame, is there an investing advantage to going on reality television?

Skechers, Jakks Pacific Team Up on Twinkle Toes Dolls

Manhattan Beach footwear firm Skechers USA Inc. has teamed up with Malibu toymaker Jakks Pacific Inc. to launch a new doll line based on Skechers’ Twinkle Toes shoes and a series of web videos based on the characters.

Reader Poll

READER POLL: Would you give your pet treats that contained cannabis products or extracts?

Crystal Sets Sights on Rivers, Skies

West L.A. luxury cruise line Crystal Cruises is setting a new course for expansion, announcing plans for new ships, new routes and even its own deluxe Boeing 787 Dreamliner aircraft.