Los Angeles Business Journal

LA FINANCE

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

Xencor, United Online Among Week’s Biggest Movers

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

Indictments in Movie Finance Scheme

Three San Fernando Valley residents were indicted Thursday on charges related to running fraudulent telemarketing schemes that the U.S. Attorney’s Office in Los Angeles.said solicited investments in movies with false promises of high returns and little risk.

Forecast: Modest L.A. Job Growth This Year and Next

L.A. County will continue to add jobs, but at a frustratingly slow pace, according to a forecast the Los Angeles County Economic Development Corp. released today.

Group to Spur Job Creation in Innovation Industries

Leaders from L.A.’s tech, venture capital and entrepreneur communities and the Los Angeles County Economic Development Corp. on Tuesday announced they will join forces to promote the region as an innovation center and spur job creation.

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Investment Bank OKs Buyer With Stake in State

ACQUISITION: De La Rosa sees pickup by Stifel boosting its public bond business.

The partners at Century City investment bank and bond underwriter De La Rosa & Co. had wanted to sell to a bigger firm for a few years, and they’d had offers.

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Building Interest

Investor moves crowdfunding model into real estate

It may have seemed unremarkable when Beverly Hills real estate company Realty Mogul Co. invested in five Baldwin Hills apartment buildings last month in deals that totaled $15 million. But it was remarkable because of this: They were financed through crowdfunding.

Medbox Shares Jump on U.S. Banking Ruling

Shares of West Hollywood marijuana services provider Medbox Inc., jumped 27 percent on Friday after U.S. officials took steps that could lead to banks being able serve marijuana-selling businesses.

Qualstar, Arrowhead Among Week’s Biggest Movers

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

Earnings Roundup: J2 Global, Oaktree, VCA Antech

J2 Global Inc. shares jumped 19 percent in after-hours trading Thursday after the Hollywood company reported better-than-expected adjusted profit and gave optimistic future guidance. Oaktree Capital Group on Thursday said its fourth-quarter profit rose 65 percent. VCA Antech Inc. said that it moved to profit in its fourth quarter as revenue from its veterinary clinics and laboratories grew.

Virtual Piggy Oinks Deal with Discover

Virtual Piggy Inc. on Wednesday announced a deal with Discover Network enabling transactions at its teen-friendly Oink payment system to take place over the the credit card company's network.

Head of Valley Financial Firm Sentenced in Loan Scam

The chief executive of a Westlake Village financial firm was sentenced to more than three years in federal prison Monday for orchestrating a fraudulent loan scheme that caused $10.3 million in losses.

Green Dot, RealD Among Week’s Biggest Movers

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

Earnings Roundup: CBRE, Macerich, PennyMac

CBRE Group Inc. and Macerich Co. reported adjusted fourth quarter results that beat Wall Street forecasts, but PennyMac Financial Services came in below expectations. PennyMac Mortgage Investment Trust also reported quarterly results.

Thomas Properties Veterans Form New Firm

Three former senior executives at recently acquired Thomas Properties Group Inc. have formed Coretrust Capital Partners, an investment management firm with dual headquarters in Los Angeles and Philadelphia.

Great American Secures $35 Million Credit Facility

GA Capital, a division of Great American Group Inc., said Tuesday it closed a $35 million financing facility for its client Reichhold, a chemical manufacturer.