Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Wednesday Rundown: City National Report Shows Stronger California, Disney Boosts Dividend

Downtown L.A.’s City National Bank on Wednesday released its second-quarter Economy and Jobs Report, which showed California is off to a strong start in 2015.

Chernin Signs TV Deal with NBCUniversal

Media executive Peter Chernin’s TV operation is moving from Fox to NBCUniversal under a new two-year deal.

Stocks Fall; ReachLocal Climbs, Global Eagle Sinks

The Dow Jones industrial average fell 178 points in Wednesday trading to close at 17,966. The S&P 500 fell 16 points to 2,109. The Nasdaq fell 38 points to 5,122. The LABJ Stock Index fell two points to 235.

Coalition Pulls Opposition to City National-RBC Deal

Another advocacy group has signed off on the sale of Downtown L.A.’s City National Bank to Toronto’s Royal Bank of Canada, potentially easing the deal’s approval by regulators.

Century City Drug Maker Has IPO

Ritter Pharmaceuticals Inc., developer of drugs to treat lactose intolerance, debuted on the Nasdaq today under the symbol RTTR.

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Rubicon’s Chief Explains Programmatic Advertising

Frank Addante explains the basics of programmatic advertising and why it has come to dominate the online advertising world, even as it remains a largely opaque corner of the market to the general public.

Layoff Notices Sent as Final Bars Play at WeHo House of Blues

The legendary House of Blues on Sunset Boulevard in West Hollywood will close on Aug. 7, according to a notice filed with the state Employment Development Department.

Budweiser Brewery Plans $20 Million Upgrade

Anheuser-Busch is investing $20 million at its Van Nuys brewery to improve water efficiency in the filtering, brewing and packaging operations.

DreamWorks Animation Hires Awesome Film Exec

DreamWorks Animation’s AwesomenessTV online teen network has created a feature film division and picked a veteran entertainment industry executive to run it.

Soon-Shiong’s NantCell Acquires Italian Stem Cell Firm

NantCell, the immuno-oncology subsidiary of billionaire Patrick Soon-Shiong’s growing NantWorks health care technology empire, has acquired tissue and stem cell engineering firm VivaBioCell. Terms of the deal were not disclosed.

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Snapchat Launches Ad Agency

Snapchat has partnered with British advertising agency WPP and the U.K.’s Daily Mail to launch an advertising agency called Truffle Pig.

Magic Johnson Enterprises Buys Life Insurance Firm

Magic Johnson Enterprises, the Beverly Hills investment firm founded by the Laker legend, announced Monday that it has completed the acquisition of a controlling stake in EquiTrust Life Insurance Co. in West Des Moines, Iowa.

Mariners Bay Apartment Complex Trades for $83.5 Million

Legacy Partners has expanded its presence in Southern California with the purchase of a 31-acre apartment complex on the Marina del Rey waterfront.

Stocks Rise; Green Dot Soars, 1st Century Bancshares Falls

The Dow Jones industrial average rose 24 points in Tuesday trading to close at 18,144. The S&P 500 rose one point to 2,124. The Nasdaq rose six points to 5,160. The LABJ Stock Index rose one point to 237.

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CrossCut Raises $75 Million to Invest in Early Stage L.A. Startups

Don’t tell CrossCut Ventures about the supposed glut of seed capital in Los Angeles. The Venice venture capital firm has just raised a $75 million fund to invest in early stage L.A. startups.

L.A. Tech Events Calendar 6/22 - 7/5

Roundup of L.A. tech events in the next two weeks.

Green Dot Re-Ups Vital Wal-Mart Deal

Pasadena prepaid debit card firm Green Dot Corp. announced Monday that it has signed a new five-year deal with its most important customer, Wal-Mart Stores Inc.

Kite Teams Up for HPV Drugs

Biotech firm Kite Pharma Inc. announced Monday that it will partner with leading immunotherapy developer Bluebird Bio Inc. of Cambridge, Mass. to develop and commercialize drugs directed against a cancer-causing strain of the human papillomavirus, or HPV.

Monday Rundown: New CEO for Long Beach Hospitals, Gulfstream Accountant Sentenced for Embezzlement, Tutor Perini to Build Philadelphia Hotel

MemorialCare Health System has promoted John Bishop, chief financial officer of Long Beach Memorial hospital, Miller Children’s & Women’s Hospital Long Beach, Community Hospital Long Beach and Seaside Health Plan in Long Beach, to chief executive.

Penske Media Teams With Shutterstock

L.A.’s Penske Media Corp. and New York stock photo seller Shuttersock Inc. have announced plans to form a global editorial service, one that seeks to cash in on Penske’s events and photo archives.