Los Angeles Business Journal

LA FINANCE

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

Oaktree Capital Reports Smaller Fourth-Quarter Profit

Downtown Los Angeles money manager Oaktree Capital Group reported fourth-quarter earnings that fell short of the previous year’s numbers, citing lower investment and incentive income in a challenging environment for distressed investing, the firm’s bread and butter.

Stocks Fall

The Dow Jones industrial average fell 95 points in Monday trading to close at 17,729. The S&P 500 fell nine points to 2,047. The Nasdaq fell 18 points to 4,726. The LABJ Stock Index fell one point to 219.

Regulators to Hold Hearing on CIT-OneWest Deal

The Federal Reserve and Office of the Comptroller of the Currency announced Friday that they would hold a public hearing on the proposed acquisition of Pasadena’s OneWest Bank by lending company CIT Group in Livingston, N.J., responding to pressure from community groups opposing the union.

PE Roundup: Private Equity Deals Announced This Week

Marlin Equity Partners of Hermosa Beach announced Monday that it has acquired Pendum, an Elmhurst, Ill., ATM service provider. Pendum will be combined with another Marlin portfolio company, payments processing technology firm Burroughs Inc. of Plymouth, Mich. Terms of the deal were not disclosed.

Nova LifeStyle, BreitBurn Energy Among Week's Big Movers

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

Stocks Fall

The Dow Jones industrial average fell 61 points in Friday trading to close at 17,824. The S&P 500 fell seven points to 2,055. The Nasdaq fell 21 points to 4,744. The LABJ Stock Index fell two points to 220.

Stocks Rise

The Dow Jones industrial average rose 212 points in Thursday trading to close at 17,885. The S&P 500 rose 21 points to 2,063. The Nasdaq rose 48 points to 4,765. The LABJ Stock Index rose three points to 222.

Markets Mixed

The Dow Jones industrial average rose seven points in Wednesday trading to close at 17,673. The S&P 500 fell nine points to 2,042. The Nasdaq fell 11 points to 4,717. The LABJ Stock Index rose four points to 220.

Poll: If you were able, would you hire contract workers instead of full-timers?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition. Our latest poll is available on the bottom right column of our home page.

Stocks Rise

The Dow Jones industrial average rose 305 points in Tuesday trading to close at 17,666. The S&P 500 rose 29 points to 2,050. The Nasdaq rose 51 points to 4,728. The LABJ Stock Index rose three points to 215.

B. Riley Enters Wealth Management Business With Acquisition

West L.A. brokerage and investment bank B. Riley Financial Inc. announced Monday that it has acquired MK Capital Advisors, a New York financial advisory firm that caters to ultra-high net worth clients. It’s B. Riley’s first foray into the wealth-management business. Terms of the deal were not disclosed.

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.