Los Angeles Business Journal

LA FINANCE

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

CIT-OneWest Deal Closes

It’s finally a done deal: CIT Group Inc. in Livingston, N.J. announced Monday it has completed its acquisition of Pasadena’s OneWest Bank for about $3.4 billion in cash and stock.

Nova Lifestyle, Skechers Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies was up for the week. The weighted LABJ index rose 4 percent to close at 246, with gainers outpacing losers 95 to 55. Six companies closed the week unchanged.

Stocks Fall

The Dow Jones industrial average fell 56 points in Friday trading to close at 17,690. The S&P 500 fell five points to 2,104. The Nasdaq fell one point to 5,128. The LABJ Stock Index rose two points to 246.

Stocks Mixed; Skechers Soars, BreitBurn Energy Partners Tanks

The Dow Jones industrial average fell five points in Thursday trading to close at 17,746. The S&P 500 was flat at 2,109. The Nasdaq rose 17 points to 5,129. The LABJ Stock Index rose one point to 244.

Stocks Climb; Rubicon Rises, Big 5 Dives

The Dow Jones industrial average rose 121 points in Wednesday trading to close at 17,751. The S&P 500 rose 15 points to 2,109. The Nasdaq rose 23 points to 5,112. The LABJ Stock Index rose one point to 243.

Stocks Rise; TrueCar Makes Comeback, Ceres Doesn’t

The Dow Jones industrial average rose 190 points in Tuesday trading to close at 17,630. The S&P 500 rose 26 points to 2,093. The Nasdaq rose 49 points to 5,089. The LABJ Stock Index rose three points to 242.

Stocks Fall; Research Solutions Soars, Ceres Slips

The Dow Jones industrial average fell 128 points in Monday trading to close at 17,441. The S&P 500 fell 12 points to 2,068. The Nasdaq fell 49 points to 5,040. The LABJ Stock Index rose one point to 238.

Stocks Fall

The Dow Jones industrial average fell 163 points in Friday trading to close at 17,569. The S&P 500 fell 23 points to 2,080. The Nasdaq fell 58 points to 5,089. The LABJ Stock Index fell two points to 237.

Taitron Components, Jakks Pacific Among This Week’s Movers

The Los Angeles Business Journal’s index of the largest local public companies fell slightly for the week. The weighted LABJ index fell one percent to close at 237, with losers outpacing gainers 109 to 41. Six companies closed the week unchanged.

Stocks Fall; Ritter Pharmaceuticals Soars, Big 5 Dives

The Dow Jones industrial average fell 119 points in Thursday trading to close at 17,732. The S&P 500 fell 12 points to 2,102. The Nasdaq fell 25 points to 5,146. The LABJ Stock Index fell one point to 239.

Stocks Fall; Jakks Soars, CytRx Sinks

The Dow Jones industrial average fell 68 points in Wednesday trading to close at 17,851. The S&P 500 fell five points to 2,114. The Nasdaq fell 36 points to 5,172. The LABJ Stock Index rose one point to 240.

Citigroup Shuts Down L.A.’s Banamex After Money-Laundering Settlement

New York finance giant Citigroup Inc. announced Wednesday it will shut down its Los Angeles subsidiary Banamex USA after agreeing to a $140 million settlement with federal and California regulators over the bank’s failure to adequately monitor possible money laundering.

Stocks Fall; BreitBurn Energy Surges, CytRx Tanks

The Dow Jones industrial average fell 181 points in Tuesday trading to close at 17,919. The S&P 500 fell nine points to 2,119. The Nasdaq fell 11 points to 5,208. The LABJ Stock Index fell one point to 240.

Regulators OK CIT-OneWest Deal

Just shy of a year after the deal was first announced, federal banking regulators have signed off on New Jersey lender CIT Group Inc.’s purchase of Pasadena’s OneWest Bank.

Preferred Bank Goes Bi-Coastal

Downtown L.A.’s Preferred Bank, which focuses on lending to Chinese-American businesses, announced Monday that it has signed an agreement to acquire United International Bank in Flushing, N.Y.