Los Angeles Business Journal

LA FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

All That Glitters May Be Going

METALS: Another gold broker closes after accusations by city.Santa Monica proves its mettle by going after a gold dealer accused of bait-and-switch scheme.

By Matt Pressberg September 29, 2014 midnight   $$ Share

L.A. Economy Lags, Shows Spotty Growth

The economic recovery in Los Angeles has been uneven and lags behind the rest of the state and nation, according to a report to be released this morning by Beacon Economics and the Los Angeles Area Chamber of Commerce.

Seattle Lender to Buy Covina’s Simplicity Bank

Covina savings and loan Simplicity Bancorp Inc. announced Monday that it has entered into an agreement to be purchased by Seattle bank HomeStreet Inc. in an all-stock deal. The combined company will have about $4.1 billion in assets under management.

Stocks Down

The Dow Jones industrial average fell 42 points in Monday trading to 17,071. The S&P fell five points to 1,978. The Nasdaq fell six points to 4,506. The LABJ stock index was flat at 201.

L.A. Bank’s Survey Reports Optimism for 2015

The majority of local small and medium-sized businesses expect revenues to increase next year, according to a survey taken by downtown Los Angeles bank CTBC Bank Corp.

Smart & Final, Green Dot Among Week’s Biggest Movers

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

Stocks Up

The Dow Jones industrial average rose 167 points in Friday trading to 17,113. The S&P 500 rose 17 points to 1,983. The Nasdaq rose 45 points to 4,512. The LABJ stock index rose one point to 201.

All That Glitters May Be Going

Santa Monica proves its mettle by going after a gold dealer accused of bait-and-switch scheme.

Regulators Bless Bank Deal

Two Los Angeles banks are one step closer to merging after announcing Thursday they have received all approvals from government regulators.

Stocks Down

The Dow Jones industrial average fell 264 points in Thursday trading to close at 16,946. The S&P 500 fell 32 points to 1,966. The Nasdaq fell 88 points to 4,467. The LABJ stock index fell three points to 200

Stocks Up

The Dow Jones industrial average rose 154 points in Wednesday trading to close at 17,210. The S&P 500 rose 16 points to 1,998. The Nasdaq rose 47 points to 4,555. The LABJ stock index rose one point to 202.

Stocks Fall

The Dow Jones industrial average fell 117 points in Tuesday trading to close at 17,056. The S&P 500 fell 12 points to 1,983. The Nasdaq fell 19 points to 4,509 The LABJ stock index fell two points to 201.

BBCN Expands Into Korea

Koreatown’s BBCN Bancorp Inc. announced Monday that it would be taking its business to Seoul, South Korea’s capital city. The company signed a memorandum of understanding with the city, affirming its plans to expand operations there and work to promote Seoul’s Yeouido International Financial District as an Asian financial hub.

Stocks Fall

The Dow Jones industrial average fell 107 points in Monday trading to close at 17,173. The S&P 500 fell 16 points to 1,994. The Nasdaq fell 52 points to close at 4,528. The LABJ Stock Index fell three points to 203.

Conversant, NetSol Technologies Among Week’s Big Movers

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

Stocks Crawl

The Dow Jones industrial average rose 14 points in Friday trading to close at 17,280. The S&P 500 was down a point to 2,010. The Nasdaq fell 14 points to close at 4,580. The LABJ Stock Index was flat at 206.