LA FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...Shares Rise as Oaktree Beats Expectations
Oaktree Capital Group LLC shares rose after the company beat Wall Street expectations again with first-quarter results reported Tuesday.
BofA Settles With Mortgage Insurer
Bank of America Corp. has agreed to pay mortgage insurer MBIA Inc. $1.6 billion to settle legal disputes related to home loans from its Countrywide Financial unit that were packaged into securities during the financial crisis, the bank announced Monday.
When Internships Don’t Work
Companies push boundaries of ethical and legal behavior with unpaid use of young employees.
Susan Tellem fears young jobseekers are being jobbed by some firms’ internship programs.
Colony American Homes Files for IPO
L.A. billionaire Thomas Barrack Jr.’s Colony Capital LLC is spinning off another business to the public markets, with Colony American Homes, a buyer of rental homes, filing with securities regulators for an initial public offering.
Staar Surgical, Big 5 Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies gained strongly for the week.
Montana Firm Buys L.A.’s Oldest Brokerage
A Montana stock brokerage has bought downtown L.A.’s Crowell Weedon & Co., the oldest local brokerage and one of just a few remaining in Los Angeles.
Personnel Costs Lower Green Dot’s Quarter
Shares of Green Dot Corp. were up more than 5 percent in after-hours trading Tuesday after the prepaid debit card company reported lower but better-than-expected net income in the first quarter.
PennyMac Financial Provides IPO Details
PennyMac Financial Services said Monday it planned to raise $200 million though a previously announced initial offering by selling 11.1 million shares at a price range of $17 to $19.
Gem of a Deal?
Firm polishes up diamonds as investment
Chris Duffield and Kristopher Schellhas hope to polish up investors’ portfolios with diamonds.
Food Trucks Running Risk
INSURANCE: Operators moving faster than coverage.
Food trucks can face problems with policies that fail to cover their use as mobile kitchens.
Venture Funding in Region Dives in First Quarter
INVESTMENT: Westside startups are exception as two large deals are closed.
Venture capital plugged into Westside tech companies in the first quarter while other areas lagged.
L.A. Banker to Announce Syrian Reconstruction Fund
A Los Angeles banker, the head of a Middle Eastern investment bank and retired General Wesley Clark plan to announce Monday the formation of an investment fund to help rebuild Syria.
Acquisition Targets Among Week’s Biggest Movers
The Los Angeles Business Journal’s index of largest local public companies gained strongly for the week as two companies announced they were being acquired.
BBCN's Quarter Hurt by Bad Loan
Koreatown bank holding company BBCN Bancorp’s earnings fell well short of investors’ expectations, thanks in part to one bad loan.
PennyMac To Offer Residential Mortgage Bonds
PennyMac Mortgage Investment Trust said it plans to issue its first residential-mortgage bonds starting in the third quarter.
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