Los Angeles Business Journal

LA FINANCE

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

Smart & Final IPO Set for Next Week

Commerce warehouse retailer Smart & Final Stores Inc., which filed for an IPO in June, will begin trading Wednesday according to Reuters PEHub. The company will offer about 13.5 million shares, priced between $12 and $14. At the midpoint of that range, the IPO would raise about $175 million and value Smart & Final at about $925 million.

L.A. Unemployment Stays at 8.1 Percent

L.A.’s unemployment rate held steady at 8.1 percent for August even as the county gained nearly 18,000 jobs as some schools reopened after summer vacation, according to state figures released Friday.

Stocks Up

The Dow Jones industrial average rose 109 points in Thursday trading to close at 17,266. The S&P 500 rose 10 points to close at 2,011. The Nasdaq rose 31 points to close at 4,593. The LABJ Stock Index was flat at 205.

Pershing Square Overhaul Gets $2 Million Boost

Efforts to overhaul Pershing Square, a five-acre urban park spanning a full city block in the heart of downtown Los Angeles, got a major boost Wednesday when a San Francisco real estate developer and the city together pledged $2 million to its revitalization.

Chinese Investment Group Sets Flag in Burbank

Burbank Civic Plaza, a Class A office building in the city’s civic center, has sold to a Chinese investment group for $22 million, or about $287 a square foot.

Stocks Climb

The Dow Jones industrial average rose 25 points in Tuesday trading to close at 17,157. The S&P 500 rose three points to close at 2,002. The Nasdaq rose nine points to close at 4,562. The LABJ Stock Index was flat at 205.

Stocks Rise

The Dow Jones industrial rose 101 points in Tuesday trading to close at 17,132. The S&P 500 rose 15 points to close at 1,999. The Nasdaq rose 34 points to close at 4,553. The LABJ Stock Index rose one point to close at 205.

Stocks Mixed

The Dow Jones industrial rose 44 points in Monday trading to close at 17,031. The S&P 500 fell one point to close at 1,984. The Nasdaq fell 49 points to close at 4,519. The LABJ Stock Index was flat at 204.

Real Estate is Major Driver of California’s Recovery, Report Says

Businesses are expanding and need more space, and that’s helping pump up California’s real estate industry. The real estate and rental leasing industries accounted for nearly a quarter of California’s economic growth in the second quarter, according to a report released Monday by downtown’s City National Bank and consulting firm Beacon Economics.

Conversant, Rubicon Among Week’s Big Movers

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

Stocks Fall

The Dow Jones industrial average fell 61 points in Friday trading to close at 16,988. The S&P 500 fell 12 points to close at 1,986. The Nasdaq fell 24 points to close at 4,568. The LABJ Stock Index was flat at 206.

Stocks Mixed

The Dow Jones industrial average fell 20 points in Thursday trading to close at 17,049. The S&P 500 rose two points to close at 1,997. The Nasdaq rose five points to close at 4,592. The LABJ Stock Index was flat at 206.

Dow Jones, S&P, Nasdaq Rise; LABJ Flat

The Dow Jones industrial average rose 55 points in Wednesday trading to close at 17,069. The S&P 500 rose seven points to close at 1,996. The Nasdaq rose 34 points to close at 4,587. The LABJ Stock Index was flat at 205.

Stocks are Down

The Dow Jones industrial fell 98 points in Tuesday trading to close at 17,014. The S&P 500 fell 13 points to close at 1,988. The Nasdaq fell 40 points to close at 4,552. The LABJ Stock Index fell two points to close at 205.

L.A. Employers Hiring Plans to Slow in Fourth Quarter

L.A. employers plan to slow their pace of hiring during the fourth quarter, according to a survey released Tuesday from Manpower Inc.