Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Dow Jones Up; S&P, Nasdaq Down; LABJ Flat

The Dow Jones industrial average rose 11 points in Wednesday trading to close at 17, 078. The S&P 500 fell two points to close at 2,001. The Nasdaq fell 26 points to close at 4,573. The LABJ Stock Index was flat at 207.

Internet Brands Buys High Gear Media

Internet Brands, which operates consumer interest websites and offers software to small and medium-sized businesses, has acquired automotive site publisher High Gear Media.

Gracenote Acquires Baseline for $50 Million

Gracenote, a subsidiary of Tribune Media Co., has acquired entertainment metadata provider Baseline of Los Angeles for $50 million.

Ouya in Early Talks for Acquisition

Ouya, a gaming console developer, is in early acquisition talks with several Chinese and American companies, according to Re/code.

Deal Gives Live Nation Foothold in Philippines

Live Nation Entertainment Inc. announced a partnership on Tuesday with Music Management International Corp. that will allow the Beverly Hills company to promote concerts in the Philippines.

Hanmi Financial Corp. Acquires United Central Bank

Koreantown bank holding company Hanmi Financial Corp. completed its acquisition of United Central Bank of Garland, Texas, over the weekend in a deal that gives Hanmi a presence in Illinois, Texas and Virginia.

Motorcar Parts of America Completes Public Offering

Motorcar Parts of America Inc. announced Tuesday it had raised about $67 million with the completion of a secondary public offering of 2.8 million shares of common stock.

Vision Internet Secures Investment

Vision Internet, a government website developer headquartered in Santa Monica, has secured a growth capital investment from Caltius Equity Partners.

Dow Jones, S&P Down; Nasdaq Up; LABJ Flat

The Dow Jones industrial average fell 31 points in Tuesday’s trading to close at 17,067. The S&P 500 fell one point to close at 2,002. The Nasdaq rose 18 points to close at 4,598. The LABJ Stock Index was flat at 207.

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Different Tune

Your Music gives crowdfunders slice of song profits

Your Music cues up a new model for crowdfunding artists offering a slice of profits for small investors.

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Internet Clicks With Low Rates

TAXES: Online business execs fear return of high levies in L.A.

Internet businesses say they rate getting to stay at a lower level of the gross receipts levy.

“Vulnerable” American Apparel Downgraded by S&P

Standard & Poor’s downgraded American Apparel Inc.’s credit rating on Friday, saying a restructuring of the downtown L.A. clothier appeared inevitable. The rating agency lowered American Apparel’s corporate credit rating to CCC- from CCC. It also dropped the rating on the company's $200 million in senior secured notes to CC from CCC-.

Bank of America Appeals Countrywide Verdict

Bank of America Corp. has asked for a federal judge to overturn a jury verdict that found it liable for thousands of bad mortgages sold by its Countrywide unit, leading to a $1.3 billion judgment.

Biosolar Inc., Trio Tech Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of the largest public companies rose for the week.

Internet Clicks With Low Rates

In what could be a revival of an old fight, local Internet companies are pushing L.A. city officials to extend the low business tax rate the city carved out for them four years ago.

Different Tune

L.A. pop artist Georgia Jane can thank her grandfather for helping kick-start her professional music career – one that has turned out to be groundbreaking and, so far, unique.

Dow Jones, S&P, Nasdaq Up; LABJ Flat

The Dow Jones industrial average rose 19 points in Friday’s trading to 17, 098 The S&P 500 rose 7 points to 2,003. The Nasdaq rose 23 points to 4,580. The LABJ Stock Index was flat at 207.

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Snapchat Expands Our Story with ‘Live’ Section

Snapchat’s summer rollout of new features isn’t over yet. The photo and video mobile messenger announced it is adding a new section called “Live” where users can see real-time updates from events throughout the world.

Dollar Shave Club to Exceed $60 Million in Sales

The Dollar Shave Club is lathering up a profitable year. Co-founder and Chief Executive Michael Dubin said the razor subscription service is on track to exceed $60 million in 2014 sales, three times what the company sold last year.

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L.A. Launch List: Aug. 29

The Los Angeles Business Journal brings you a weekly roundup of L.A. launches.