Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Stocks Rise

The Dow Jones industrial average rose 62 points in Thursday’s trading to 16,714. The S&P 500 rose 8 points to 1,955. The Nasdaq rose 19 points to 4,453. The LABJ Stock Index rose 2 points to 201.

MiTú Pacts With Televisa

Culver City’s MiTú, a Latino YouTube network, has partnered with Mexican media giant Televisa to create original content for the Web in both Spanish and English.

Amgen Announces Test Setback, Recall

Thousand Oaks pharmaceuticals firm Amgen announced a double dose of bad news Wednesday in the form of a trial setback and a recall.

Poll: How Twitter-literate are you?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition.

Second Sight Prepares IPO

Second Sight, a Sylmar company founded by billionaire Alfred Mann to develop an artificial retina for blind patients, filed paperwork for an initial public offering on Tuesday.

Disney to Sell 23 Radio Stations

Walt Disney Co. is selling off 23 of its Radio Disney stations and laying off about 200 employees as it moves to digital distribution of its radio content, according to media reports on Wednesday.

11 Percent Hike Recommended for Workers’ Comp

Workers’ compensation insurance rates should go up 11 percent next year from current levels, an insurance industry body said Wednesday despite objections from business and labor interests.

Wash Multifamily Laundry Systems Buys Seattle Firm

Wash Multifamily Laundry Systems of El Segundo has acquired American Meter & Appliance in a deal that will allow the company to expand in the Pacific Northwest and Alaska. Wash Multifamily, which is privately held, announced the deal on Wednesday. Terms were not disclosed. Both companies provide design services and laundry equipment to apartment complexes and college campuses. As a result of its acquisition, Wash Multifamily will be able to expand to Washington, Oregon, Idaho, Montana and Alaska. The company plans to establish branch offices in Seattle and Anchorage.

Raytheon Gets $11 Million Contract for Laser Weapons

Raytheon Co.’s sprawling El Segundo operation has been awarded an $11 million U.S. Marine Corps contract to develop laser weapons for military vehicles.

Ares Management Reports Rise in Net Income

Century City private equity firm Ares Management reported strong second-quarter growth in profits and managed assets on Wednesday.

Stocks Rise

The Dow Jones industrial average gained 91 points in Wednesday’s trading to close at 16,652. The S&P 500 gained 13 points to close at 1,947. The Nasdaq gained 45 points to close at 4,434. The LABJ Stock Index gained a point to close at 199.

RadPad Nabs $2 Million

Los Angeles mobile rental marketplace RadPad has raised $2 million in capital led by SG VC in Santa Barbara, bringing its total amount raised to $3.5 million.

Passenger Counts Up at LAX, Ontario

Los Angeles International Airport had strong passenger growth during the first half of the year, according to numbers released Tuesday by the city agency that runs LAX.

Sunkist Moving to Santa Clarita

More than a year after selling its landmark Sherman Oaks office building, Sunkist Growers Inc. announced Tuesday it will begin moving to its new home in Santa Clarita in September.

Stocks Fall

The Dow Jones industrial average fell 9 points in Tuesday’s trading to 16,561. The S&P 500 fell 3 points to 1,934. The Nasdaq fell 12 points to 4,389. The LABJ Stock Index fell a point to 198.

Clippers Sale Closes

The sale of the Los Angeles Clippers to former Microsoft chief executive Steve Ballmer has closed, the National Basketball Association announced Tuesday.

Newegg Expands in Asia and Europe

Online electronics seller Newegg.com Inc. announced Tuesday that its e-commerce website is now accessible to shoppers in India, Ireland, Singapore, New Zealand, Poland and the Netherlands.

Petitioners Oppose Downtown Water Slide

Petitioners demanding the cancellation of a 1,000-foot Slip ‘N Slide-like attraction in downtown Los Angeles have collected more than 2,500 online signatures.

Obituary: Radio Executive George Nicholaw

George Nicholaw, longtime general manager at news radio station KNX-AM (1070), has died. He was 86.

Puma Shares Slip on Deeper Loss

Westwood pharmaceuticals firm Puma Biotechnology on Monday reported a deeper net loss during the second quarter as the firm substantially increased its research and development expenses amid efforts to bring its breast cancer drug to market.