Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

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

The Dow Jones industrial average gained 60 points in Wednesday’s trading to close at 16,979. The S&P 500 gained 5 points to close at 1,987. The Nasdaq lost 1 point to close at 4,526. The LABJ Stock Index was flat at 204.

Snapchat to Add Ads and Content

Snapchat, the app that sends impermanent messages, finally may be on its way to securing permanent dollars by incorporating ads and content, according to reports.

Facebook to Host Small Business Workshop

Facebook is coming to Los Angeles to teach small businesses how to optimize their presence on its social network.

Pre-Accelerator The Music Foundry Launches Amid Industry Skepticism

The Music Foundry, a music technology pre-accelerator, is looking to fill a trial class this fall to address a startup need within the music space. But its bigger task may be fighting an abiding skepticism about music tech investments.

Grease Theft Bill Passes Legislature

The state Legislature has approved a bill to increase penalties for stealing used kitchen grease from restaurants.

Longtime Water Official Ed Little Dies at 87

Ed Little, a longtime Culver City business owner and former West Basin Municipal Water District board member, has passed away. He was 87.

Northrop Grumman Gets Space Plane Contract

Northrop Grumman’s aerospace division in Redondo Beach announced Tuesday it has been awarded a contract from the U.S. Defense Advanced Research Projects Agency to create a model of an experimental space plane.

Millennium Entertainment Sold to Managers

Film distributor Millennium Entertainment has been sold in a management buyout, according to a report in Deadline Hollywood.

Stocks Rise

The Dow Jones industrial average gained 81 points in Tuesday’s trading to close at 16,920. The S&P 500 gained 10 points to close at 1,982. The Nasdaq gained 19 points to close at 4,528. The LABJ Stock Index gained a point to close at 204.

Hovelstay.com Books $1.2 Million Series A

Hovelstay.com, which promises eclectic lodging options at very low prices, has secured $1.2 million in Series A funding.

SpaceX Valued at $10 Billion

Elon Musk’s Space Exploration Technologies, commonly known as SpaceX, is raising money that would value the company at nearly $10 billion, according to reports.

Atlas Capital Leads Group Acquiring Evoq Properties

Atlas Capital Group is leading a group of real estate investment firms poised to acquire Los Angeles real estate management firm Evoq Properties Inc. for some $357 million.

Shareholders Favor Sport Chalet Sale

Sport Chalet Inc. shareholders have approved a $70 million acquisition of the La Canada Flintridge retailer by a Connecticut sporting goods company, the companies announced Monday.

American Apparel Narrows Loss

American Apparel reported on Monday that it narrowed its loss for the second quarter although it was still deeper than expected.

Daily Journal Swings to Loss

Daily Journal Corp. swung to a loss in the nine months ended June 30 despite an increase in revenue, the company announced Monday.

Stocks Rise

The Dow Jones industrial average gained 176 points in Monday’s trading to close at 16,839. The S&P 500 gained 17 points to close at 1,972. The Nasdaq gained 43 points to close at 4,508. The LABJ Stock Index gained a point to close at 203.

Tease photo

Truth Be Told

23-year-old spins tweeted facts into big bucks

UberFacts’ Kris Sanchez has turned his 7 million Twitter followers into a true gold mine.

Company Tries Hand at Longer Touchable Videos

TECHNOLOGY: Approach by Cinematique lets viewers stockpile touted products.

Cinematique hopes to make the scene with interactive videos that tout products.

L.A. Unemployment Stays at 8.1 Percent

L.A.’s unemployment rate held steady at 8.1 percent for July even as the county lost 58,000 jobs in July as schools let out for the summer, according to state figures released Friday.

Albertsons Reveals Data Breach

The company operating Albertsons supermarkets in Southern California and elsewhere reported Friday that customers’ credit and debit card information may have been compromised by a data breach.