LA BUSINESS JOURNAL DAILY NEWS
Hyperloop touts benefits of proposed Helsinki-Stockholm project, Stamps.com buys ShippingEasy, and more.
An affiliate of Lincoln Property Co. has purchased an office complex just east of Playa Vista and has plans to freshen up the 560,000-square-foot site. LPC Realty Advisors I bought the six-building Wateridge campus in Ladera Heights on behalf of a public pension fund for $135 million, or about $240 a square foot, according to a source close to the deal.
Architecture firm Gensler long ago outgrew its jewel box office in downtown, taking two floors in the neighboring tower at City National Plaza to accommodate nearly 600 employees. Now the firm is breaking down the walls to bring everyone together. Plans call for building a bridge between the jewel box and the tower to its north, where Gensler would remove part of the fourth floor to create a cavernous, flexible space.
Co-founder of Los Angeles-based transportation firm Hyperloop One, Brogan BamBrogan, has stepped down as chief technology officer of the company. Former senior vice president of engineering Josh Giegel will step in to fill the role. The reasoning behind BamBrogan’s departure remains unclear.
Hyperloop One co-founder replaced, Faraday Future signs electric racecar partnership, virtual reality startup Within picks up Disney and Zynga vets, and more.
Online marketing and advertising solution provider ReachLocal, Inc. of Woodland Hills was this week’s biggest mover, gaining 184 percent to end at $4.55. Monrovia-based Xencor was also among the week’s big movers. The engineering platform gained 41 percent to end at $18.93. Branded consumer platform Differential Brand Group was the week’s biggest loser, dropping 15 percent to end at $3.
Mainstream clothing brands and niche fashion lines are descending on Broadway, gradually turning the southern end of the corridor near Apple Inc.’s potential store into a hub for retailers who want a piece of downtown’s edgy allure.
The L.A. City Attorney’s office asked a judge for permission on Friday to file additional documentation of fraud and bad behavior allegedly perpetrated by PricewaterhouseCoopers (PwC) – the contractor hired to run the Los Angeles Department of Water and Power’s billing system.
A new round of layoffs swept the International Business Times today, eliminating its Los Angeles bureau and cutting its New York-based staff in half.
Los Angeles-based global private equity firm OpenGate Capital has acquired the fourth largest European manufacturer of polyvinyl chloride film, a synthetic plastic polymer used in products like packaging, adhesive tape and stationary, the company announced today.
Disney to buy $3.5 billion stake in online MLB, Honest Co. moving slowly to IPO, Woven Digital raises $18.5 million, and more.
Two U.S Senators are demanding answers from one of the largest prepaid card providers in the market, Monrovia-based Green Dot Corp., after its Wal-Mart branded card experienced outages last month, affecting many of its customers’ ability to check their account balances online and use their cards to make purchases.
Santa Monica-based Lionsgate Entertainment Corp. agreed to pay $4.4 billion in cash and stock to acquire cable network Starz, the two companies announced Thursday.
Avatar to become massive multiplayer game, All Def Digital raises $10 million, Snapchat opens Paris office, and more.
Fast fashion retailer Forever 21 appears to be falling victim to the recent slowdown seen by cohorts H&M, Urban Outfitters, and even larger retailers such as Nordstrom and Neiman Marcus.
Film studio Metro-Goldwyn-Mayer, which owns the James Bond franchise, has received a $1 billion five-year revolving credit facility arranged by J.P. Morgan Chase with a syndicate of lenders.
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A class-action complaint was filed Monday in Delaware Chancery Court against DreamWorks Animation chief executive Jeffrey Katzenberg for an alleged side deal that took place as part of the $3.8 billion Comcast-Dreamworks merger. The lawsuit seeks a share of the profits from the side deal as well as damages.
Atom Tickets Launches Across Southern California, Green Dot gets scrutiny from U.S. Senate, Hillary Clinton fundraises at Sean Parker’s house, and more.
After 26 years practicing under her own shingle, celebrity divorce lawyer Stacy Phillips and the bulk of the family law firm Phillips Lerner are joining Blank Rome as lateral hires.