Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Palisades Office Project Sells for $53 Million

Lincoln Property Co. and Linwood Investments have sold a 103,800-square-foot, Class A creative office campus in Pacific Palisades to New York real estate equity firm Brickman for $53 million, or roughly $500 a square foot.

Reader Poll

Have you taken advantage of incentives to replace your lawn with drought-tolerant landscaping?

Stocks Fall; NantKwest Climbs, Ceres Continues Slide

The Dow Jones industrial average fell 163 points in Wednesday trading to close at 17,349. The S&P 500 fell 17 points to 2,080. The Nasdaq fell 40 points to 5,019. The LABJ Stock Index fell one point to 235.

L.A. OKs Tougher Penalties for Cig Sellers

Sell tobacco to a kid in Los Angeles and you’ll soon get a month-long time out.

Council Committee Upholds Airport Decision to Allow Uber, Lyft to Pick Up LAX Passengers

After a marathon packed hearing, a Los Angeles City Council committee late on Tuesday voted to uphold an airport commission decision to allow rideshare services such as Uber and Lyft to pick up passengers from Los Angeles International Airport.

U.S. Retains Icann Oversight for Another Year

The U.S. Department of Commerce will maintain stewardship of the Internet Corp. for Assigned Names and Numbers, Icann, the administrator of Internet domain names, for at least another year.

Tuesday Rundown: American Adds LAX-Havana Flights, New BID in Downtown L.A.

American Airlines plans to offer nonstop flights from Los Angeles International Airport to Havana for the first time since restrictions were loosened between Cuba and the United States, the airline announced Tuesday.

Rideshare Drivers, Taxi Backers Line Up at City Hall

Drivers for Uber and Lyft lined up opposite opponents of the ridesharing companies Tuesday at a Los Angeles City Council committee hearing that could determine whether the firms will be able to operate at Los Angeles International Airport.

Amgen Agrees to $71 Million Settlement

Amgen Inc. has agreed to a $71 million settlement over claims that the pharmaceutical giant marketed two of its drugs for uses not approved by the Food and Drug Administration.

Burbank Credit Union Headed to Valencia

Logix Federal Credit Union, the largest credit union in Los Angeles County, said Tuesday it has outgrown its long-time Burbank offices and will build a 170,000-square-foot headquarters in Santa Clarita.

Stocks Fall; MRV Communications Rises, Nova Lifestyle Tanks

The Dow Jones industrial average fell 34 points in Tuesday trading to close at 17,511. The S&P 500 fell six points to 2,097. The Nasdaq fell 32 points to 5,059. The LABJ Stock Index fell three points to 236.

California Bets its CHiPs on New Movies

A movie version of the 1970s TV series “CHiPs” heads the list of 11 films sharing in the California Film Commission’s newly expanded tax-credits program, the commission announced Tuesday.

L.A. Tech Event Calendar: Aug. 17 – 30

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

L.A. Tech Tweet of the Day: Katy Perry

Singer Katy Perry lent a hand today at Hyperloop’s downtown L.A. headquarters.

Tease photo

Edmunds Adds Feature in Challenge to TrueCar

Edmunds.com has enhanced its True Market Value car pricing product in a move that may pose a direct challenge to TrueCar.

Haggen Will Sell or Close Valley Stores

Haggen Food & Pharmacy, a Washington state grocery chain that has struggled locally since taking over dozens of California Albertsons, Vons and Pavilions stores earlier this year, will close or sell 16 locations in the state, including four in the Valley.

Reader Poll

Does it make sense for a startup business to own its office space rather than rent?

Stocks Rise; Ritter Pharmaceuticals Climbs, Marathon Sinks

The Dow Jones industrial average rose 68 points in Monday trading to close at 17,545. The S&P 500 rose 11 points to 2,102. The Nasdaq rose 43 points to 5,092. The LABJ Stock Index rose three points to 239.

Boutique Hotel Planned for South Park

A surface parking lot of less than one-fifth of an acre in downtown L.A.’s South Park neighborhood might soon house a slim hotel.

Marathon Patent Group to Merge with Uniloc Luxembourg

West L.A. patent monetization firm Marathon Patent Group Inc. will merge with Uniloc Luxembourg, a competing European company, in coming months, the companies announced Friday.