LA FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
In Wednesday trading, the Dow Jones industrial average fell 188 points, or 1.2 percent, to 15,739. The Nasdaq dropped 47 points, or 1.1 percent, to 4,051. The S&P 500 was down 18 points, or 1 percent, to 1,774. The LABJ Stock Index lost 1 point to 177.
The parent company of Koreatown lender Wilshire Bank announced after the close of the markets Monday that its profit narrowed in the last quarter of last year as it closed on two acquisitions.
In Tuesday trading, the Dow Jones industrial average rose 91 points, or 0.6 percent, to 15,929. The Nasdaq was up 14 points, or 0.4 percent, to 4,098. The S&P 500 ticked up 11 points, or 0.6 percent, to 1,793. The LABJ Stock Index was up 1 point to 179.
Investor says it’s finally time to bet on L.A. banking
California Business Bank’s owner looks to be L.A.’s first new player in banking in almost five years.
Technology: Shares of Mandalay Digital surge after deal with Verizon.
Investors ring up stock of Mandalay Digital after Verizon signs up for its products.
Food: Krispy Kreme’s area franchisee plans to open 20 shops in next seven years.
Krispy Kreme plans to go hole hog in Southern California with 20 new stores.
Russell Goldsmith lists the assets that L.A. leaders should bank on as they look to improve the economy.
L.A. County’s unemployment rate fell to 9.2 percent in December, its lowest point in more than five years, according to state figures released Friday.
The Los Angeles Business Journal’s index of largest local public companies closed down for the week.
Last year was a good one for Los Angeles County’s big banks, as the three biggest local lenders all reported solid earnings for 2013. All announced growing profits, assets and loan volumes.
Cast & Crew Entertainment Services has started a new division to provide government incentive-backed financing for film and television productions.
East West Bancorp Inc. said it had completed its acquisition of MetroCorp Bancshares Inc. in a deal that deal increases its presence in Houston and gives it its first branches in Dallas and San Diego.
Bankruptcy: Creditors protest as lawyers, others submit huge bills.
Ezri Namvar’s investors were ripped off when his Ponzi scheme collapsed, and now they say they’re getting shorted again by the professionals in charge of recovering their money.
The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week.
Venture capital activity in the United States increased overall last quarter and last year, but that trend skipped Los Angeles.