Los Angeles Business Journal

LA FINANCE

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

San Gabriel Valley Partnership Launches Marketing Website

The San Gabriel Valley Economic Partnership announced Monday the launch of a new regional economic development website aimed at companies considering relocating or expanding in the San Gabriel Valley.

Stocks Rise

The Dow Jones industrial average rose 196 points in Monday trading to close at 17,361. The S&P 500 rose 26 points to 2,021. The Nasdaq rose 41 points to 4,677. The LABJ Stock Index rose one point to 212.

California Resources Corp., BreitBurn Among the Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies fell for the week. The weighted LABJ Index fell 3 percent to close at 211, with losers outpacing gainers 110 to 39. Nine companies closed the week unchanged.

Stocks Fall

The Dow Jones industrial average fell 252 points in Friday trading to close at 17,165. The S&P 500 fell 26 points to 1,995. The Nasdaq fell 48 points to 4,635. The LABJ Stock Index fell four points to 211.

Detectives Arrest 15 L.A. Residents in Bust of Insurance Fraud Ring

Fifteen residents of Los Angeles County were arrested Thursday for allegedly staging auto collisions and filing for half a million dollars in bogus claims.

Stocks Fall

The Dow Jones industrial average fell 196 points in Wednesday trading to close at 17,191. The S&P 500 fell 27 points to 2,002. The Nasdaq fell 44 points to 4,638. The LABJ Stock Index fell three points to 213.

Stocks Fall

The Dow Jones industrial average fell 291 points in Tuesday trading to close at 17,387. The S&P 500 fell 28 points to 2,030. The Nasdaq fell 90 points to 4,682. The LABJ Stock Index fell one point to 216.

Stocks Rise

The Dow Jones industrial average rose six points in Monday trading to close at 17,679. The S&P 500 rose five points to 2,057. The Nasdaq rose 14 points to 4,772. The LABJ Stock Index rose one point to 218.

City National, Medbox Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies rose for the week. The weighted LABJ Index rose less than 1 percent to close at 217, with gainers outpacing losers 80 to 72. Seven companies closed the week unchanged.

PE Roundup: Private Equity Deals Announced This Week

Packaged meat producer AdvancePierre Foods Inc. in Cincinnati, a portfolio company of downtown PE giant Oaktree Capital Management, announced Tuesday that it has agreed to acquire Landshire Inc. of Caseyville, Ill., a manufacturer of sandwich products. Terms of the deal were not disclosed.

Markets Mixed

The Dow Jones industrial average fell 141 points in Friday trading to close at 17,673. The S&P 500 fell 11 points to 2,052. The Nasdaq rose seven points to 4,758. The LABJ Stock Index fell one point to 217.

L.A. Unemployment Rate Dips Below 8 Percent for First Time in Six Years

L.A. County’s unemployment rate fell to 7.9 percent in December, the first time it was below 8 percent since mid-2008, state figures released Friday show.

Stocks Rise

The Dow Jones industrial average rose 260 points in Thursday trading to close at 17,814. The S&P 500 rose 31 points to 2,063. The Nasdaq rose 83 points to 4,750. The LABJ Stock Index rose three points to 217.

City National Sells for $5.4 Billion

City National Bank of Los Angeles has been acquired by Royal Bank of Canada for $5.4 billion, or $93.80 a share, in a cash-and-stock deal, the two firms announced Thursday.

Stocks Mixed

The Dow Jones industrial average rose 39 points in Wednesday trading to close at 17,554. The S&P 500 rose 10 points to 2,032. The Nasdaq rose 13 points to 4,667. The LABJ Stock Index fell one point to 214.