Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Norms Passes Major Hurdle

The landmark Norms restaurant on La Cienega, had been declared a cultural monument Thursday, temporarily protecting it from being demolished.

City Study Backs Wage Hike; Biz, Labor Release Dueling Studies

EDITOR'S NOTE: This story has been updated from an earlier version. Hiking L.A.’s minimum wage would bring more benefits than costs to both Los Angeles and the region, according to a long-awaited and controversial study released Thursday afternoon.

Amgen Loses Bid to Halt Biosimilar

A federal judge on Thursday denied Amgen Inc.’s bid to stop the sale of a biosimilar form of Neupogen, the company’s infection-fighting blockbuster drug for cancer patients.

Good News for Guess

Shares of Guess Inc. have been steadily declining for more than a year and expectations for the company are low enough that even a lackluster earnings report was enough to send Guess’ stock soaring Thursday.

Markets Mixed

The Dow Jones industrial average fell 117 points in Thursday trading to close at 17,959. The S&P 500 fell 10 points to 2,089. The Nasdaq rose 10 points to 4,992. The LABJ stock index was flat at 231.

Sidecar Brings Delivery Service to L.A.

San Francisco ride-sharing company Sidecar is bringing its business delivery service to Los Angeles.

Poll: Should online poker be made legal in California?

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. Our latest poll is available on the bottom right column of our home page.

Sexy Ads, Debt Talks Hit American Apparel

Risqué advertising and a crushing debt load have been ongoing problems for downtown Los Angeles clothing maker American Apparel Inc., and there was news on both fronts Wednesday.

Herbalife’s Shares Rise After Lawsuit Dismissed

Shares of Herbalife Ltd., the downtown Los Angeles nutritional supplement company, rose Wednesday after a judge dismissed a lawsuit brought by shareholders alleging they lost money because the business was an illegal pyramid scheme.

Microsemi to Acquire Vitesse for $389 Million

Semiconductor manufacturer Microsemi Corp. has made an offer to acquire Vitesse Semiconductor Corp.in a deal valued at $389 million, the companies announced Wednesday.

Stocks Rise

The Dow Jones industrial average rose 227 points in Wednesday trading to close at 18,076. The S&P 500 rose 25 points to 2,099. The Nasdaq rose 45 points to 4,983. The LABJ stock index rose three points to 231.

Therapists Arrested for Insurance Fraud Case

Two Playa del Rey therapists were arrested Tuesday for health insurance fraud after allegedly billing Anthem Blue Cross for services amounting to $3.5 million that they never provided, according to the California Department of Insurance.

Ride-Sharing Service Relocates to Los Angeles

BeMyDD, an online and phone service that lets customers request designated drivers to take them home, has moved its headquarters to Los Angeles from Cleveland.

L.A., Long Beach Cargo Crash in February

Congestion at the docks dragged down cargo volume at the ports of Long Beach and Los Angeles for a second consecutive month in February, according to figures released Tuesday.

Kite Purchases Dutch Firm, Opening European Beachhead

Santa Monica biopharmaceutical firm Kite Pharma Inc. has acquired a Dutch biotech company in a deal valued at more than $21 million, using the private firm to establish its European headquarters in Amsterdam.

Qatar Airways to Start LAX Cargo Flights

Qatar Airways will begin transporting freight through Los Angeles International Airport next month with two weekly flights to and from the Middle Eastern country, executives said Tuesday.

Santa Monica Multifamily Market Heats Up

The Santa Monica multifamily market remains hot.

Stocks Mixed

The Dow Jones industrial average fell 128 points in Tuesday trading to close at 17,849. The S&P 500 fell seven points to 2,074. The Nasdaq rose eight points to 4,937. The LABJ stock index fell one point to 227.

PCM Buys En Pointe’s IT Business

El Segundo’s PCM Inc., makers of the PC Mall and MacMall technology product catalogs, has acquired some assets from En Pointe Technologies Sales Inc., an information technology firm that specializes in Microsoft products.

Leonard Green, TPG Agree to Buy Fitness Chain

West Los Angeles private equity firm Leonard Green & Partners and fellow private equity shop TPG in Fort Worth, Texas, announced Monday that they have agreed to acquire publicly traded health club chain Life Time Fitness Inc. in Chanhassen, Minn. in a deal valued at about $4 billion.