Los Angeles Business Journal

LA FINANCE

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

Universal Studios Expands American Express Partnership

American Express Co. cardholders will have access to film premieres and VIP screenings under an expanded marketing agreement announced Wednesday by the personal finance company and Universal Studios.

Local Companies to Hire 10,000 L.A. Youths

Los Angeles Mayor Eric Garcetti announced Tuesday that Walt Disney Co. and other companies have pledged to hire 10,000 local youths for a summer jobs program, double the number hired last summer.

Large PennyMac Stockholder Paring Stake

Shares of PennyMac Financial Services Inc. fell more than 6 percent Tuesday after its largest shareholder began selling off its stake.

Stocks Decline

In Monday trading, the Dow Jones industrial average was down 26 points, or 0.2 percent, to 16,277. The Nasdaq fell 50 points, or 1.2 percent, to 4,226. The S&P 500 dropped 9 points, or 0.5 percent, to 1,857. The LABJ Stock Index fell 1 point to 188.

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Overseas Appeals

LAW: Gibson Dunn touts recent Latin American wins for Dole, Chevron as it courts more work from multinationals.

Recent court victories for Dole and Chevron are helping Gibson Dunn make its case for more international work.

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Firm Builds Tech Bridge Between Asia, Middle East

INVESTMENT: DPL taps South Korean money to back Israeli startups.

Trio gives birth to $50 million fund that will nurse Israeli life sciences startups with South Korean money.

LA Unemployment Rate Falls

L.A.’s jobs picture continued to brighten in February as employers added nearly 28,000 jobs to their payrolls and the jobless rate fell to 8.7 percent, according to state figures released Friday.

Research Solutions, Lions Gate Among Week’s Biggest Movers

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

Herbalife, Ryland Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of largest local public companies fell for the week. The weighted LABJ Stock Index dropped 2 percent to 190 for the trading week ended March 17. Decliners outpaced gainers 98 to 56, with six companies unchanged.

Stocks Drop

In Friday trading, the Dow Jones industrial average was down 43 points, or 0.3 percent, to 16,066. The Nasdaq fell 15 points, or 0.4 percent, to 4,245. The S&P 500 dropped 5 points, or 0.3 percent, to 1,841. The LABJ Stock Index was flat at 190.

L.A. Unemployment Rate Drops, More Jobs in County

L.A.’s jobless rate dipped below 9 percent in January for the first time in nearly six years, according to state figures released Friday.

RadNet, U.S. Auto Parts Among Week’s Biggest Movers

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

Oaktree Raises Money to Buy Back Ownership Interests

Oaktree Capital on Wednesday priced a public offering of 5 million Class A units at an estimated $60 each, for expected gross proceeds of about $300 million.

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New Age

L.A.’s oldest investment firm decides time’s ripe to tap ‘young’ CEO.

Firm founded in 1922 looks to age gracefully with a “youth” hiring movement for CEO and advisers.

UTi, Jakks Among Week’s Biggest Movers

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