Los Angeles Business Journal

LA FINANCE

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

Los Angeles County Unemployment Rate Falls

Los Angeles County’s unemployment rate fell to 8.1 percent in June as employers added a net 4,800 jobs, according to figures released Friday.

Lions Gate Entertainment, Aecom Among Week’s Biggest Movers

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

Stocks Rise

The Dow Jones industrial average rose 123 points in Friday’s trading to close at 17,100. The S&P 500 rose 20 points to close at 1,978. The Nasdaq rose 69 points to close at 4,432. The LABJ Stock Index rose 2 points to close at 197.

Ares Management Buys Veterinary Firm

Ares Management of Century City on Thursday announced its purchase of National Veterinary Associates in Agoura Hills.

Colony Financial Plans $336 Million Stock Offering

Colony Financial Inc., a Santa Monica real estate investment company, will seek to raise some $336 million via an offering of 15 million shares of common stock.

Partners Trust Real Estate Acquires Malibu Firm

Partners Trust Real Estate Brokerage & Acquisitions in Beverly Hills announced on Thursday it has purchased Arete Estates, a Malibu firm specializing in high-end real estate.

East West Net Income Rises

Pasadena’s East West Bancorp on Wednesday reported a double-digit percentage increase in profits for its latest quarter.

Smart & Final Going Public

Smart & Final Stores Inc. has filed for an initial public offering.

Banc of California Expects OK of Branch Purchases

A Banc of California executive said Tuesday he anticipates federal regulators will approve their planned purchase of 20 bank branches in Los Angeles and Orange counties despite the objections of an activist group.

Dow Up; S&P, Nasdaq, LABJ down

The Dow Jones industrial average rose 5 points in Tuesday’s trading to close at 17,061. The S&P 500 slipped 4 points to close at 1,973. The Nasdaq lost 24 points to close at 4,416. The LABJ Stock Index lost a point to close at 197.

Activists Oppose Banc of California Acquisitions

The California Reinvestment Coalition, an organization that lobbies for banks to do more business in low-income communities, on Monday said it opposes Banc of California’s plan to acquire 20 Southern California bank branches from Popular Community Bank.

CBRE Makes Another German Acquisition

Los Angeles real estate company CBRE Group Inc. announced its second German acquisition of the year on Friday.

American Apparel, AeroVironment Among Big Movers

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

Stocks Up

The Dow Jones industrial average gained 29 points in Friday trading to close at 16,944. The S&P 500 rose by 3 points to close at 1,968. The Nasdaq increased by 19 points to close at 4,415. The LABJ Stock Index rose a half point to 198.

Stocks Down

The Dow Jones lost 71 points in Friday’s trading to close at 16,915. The S&P 500 slipped 8 points to close at 1,965. The Nasdaq fell 23 points to close at 4,396. The LABJ Stock Index edged down a point to 198.