Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Stocks Mixed

The Dow Jones industrial average rose 6 points in early Friday trading to 17,932. The S&P 500 fell 1 point to 2,081. The Nasdaq fell 10 points to 4,936. The LABJ Stock Index fell slightly to 228.

Breitburn Shares Plunge After Skipped Interest Payment

Just as investors in Los Angeles oil partnership Breitburn Energy Partners were hoping the worst was over as oil prices have rallied, the other shoe dropped on Thursday – make that two shoes.

Kobe’s Farewell Game Delivers Record Ratings

Kobe Bryant didn’t just deliver a record-breaking show for the fans at Staples Center last night.

Port of Long Beach Cargo Volume Rises in First Quarter

Cargo volume at the Port of Long Beach increased by 6 percent in the first three months of the year compared to the same period in 2015, making it the port’s best best quarter in nine years.

Faraday Future Breaks Ground on $1 Billion Factory

Electric car manufacturer Faraday Future broke ground on its $1 billion factory in North Las Vegas on Wednesday.

Hollywood Presbyterian Plans $200 Million Expansion

Hollywood Presbyterian Medical Center in Los Feliz will launch a $200 million, 10-year expansion and modernization masterplan for its facilities, it announced on Thursday.

Stocks Mixed

The Dow Jones industrial average rose 18 points in Wednesday trading day to close at 17,926.

ESPN Announces Drone Racing Distribution Deal

Step back, Superman: the next popular racing sport is flying above you. And it doesn’t require a superhero.

Stocks Up

The Dow Jones industrial average rose 187 points in Wednesday trading day to close at 17,908.

Jacobs Engineering Buys Cybersecurity Firm

Jacobs Engineering Group Inc. on Tuesday acquired Van Dyke Technology Group Inc., a 180-person cybersecurity firm catering to government clients, in particular U.S. intelligence agencies. Terms of the deal were not disclosed.

USC Hires Lynn Swann as Athletic Director

Former USC football star Lynn Swann was named as the school’s next athletic director on Wednesday.

Port of L.A. Container Volume Up in First Quarter

The Port of Los Angeles reported the busiest first quarter in its 109-year history.

Federal Ruling Puts State Artist Royalty Law in Jeopardy

A federal judge dismissed a lawsuit Monday against several auction houses sued by artists over failure to pay them royalties as guaranteed by California law.

Expanded Paid Sick Leave Mandate Moving Forward in L.A.

The city of Los Angeles is a step closer to requiring all employers to provide six days of paid sick leave to their workers, three days more than mandated under state law.

XPrize’s Peter Diamandis Transitions from CEO to Executive Chairman

The founder of Culver City’s XPrize Foundation, Peter Diamandis, has stepped down from his role as chief executive of the nonprofit technology competition.

Stocks Up

The Dow Jones industrial average rose 165 points in Tuesday trading day to close at 17,721.

Demand Media Sells Cracked.com for Nearly $40 Million

Demand Media Inc. of Santa Monica has sold its humor website, Cracked.com, to E.W. Scripps Co. of Cincinnati for $39 million in cash.

Brown Signs Paid Family Leave Law

A paid family-leave law was signed into law by Gov. Jerry Brown on Monday, the Los Angeles Times reports. The measure allows people earning close to minimum wage to be paid 70 percent of their salary while on leave, while higher-paid workers earning up to $108,000 annually will get 60 percent of their salary.

L.A. Tech Calendar: April 11 - 24

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

American Apparel Plans Layoffs

American Apparel has already cut back on garment lines and now appears to be cutting back on workers too.