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

PennyMac Enters Broker Direct Market

PennyMac Financial Services Inc. will offer mortgage brokers access to its Power platform, the company announced Friday.

L.A. County Falls in Annual Economic Ranking

Los Angeles County fell sharply in an annual ranking of job growth and economic performance among metropolitan areas, according to a Milken Institute report released Wednesday.

Payscout Unveils First-Ever VR Donation at CES

Payscout Inc. has performed the first frictionless donation in virtual reality, the company announced Tuesday at the Consumer Electronics Show in Las Vegas.

VICA, Other Groups Oppose Moratorium on Natural Gas Hookups

Business opposition is mounting to a proposed three-month moratorium on new commercial natural gas hookups in Los Angeles County, with a vote by the state Public Utilities Commission set for Thursday.

B. Riley Hires Global Strategist

B. Riley FBR Inc. has appointed Mark J. Grant as managing director and chief global strategist, the company announced Monday.

LAEDC Names New Chief Economist

The Los Angeles County Economic Development Corp. has hired local industry economic forecaster Steven Banks as its new chief economist, the nonprofit announced Thursday.

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Cal Lutheran Forecasts Narrowing of State’s ‘Growth Premium’

The U.S. economy will grow an average 2.2 percent during the next two years with California’s economy faring better for the next few quarters, according to California Lutheran University’s Center for Economic Research and Forecasting.

FloQast Relocates to Larger Office

FloQast has relocated its corporate headquarters to Sherman Oaks due to accommodate rapid growth, the company announced Monday.

iPayment Closes Financing for Acquisition

iPayment Inc., a provider of credit card payment services, has closed on a corporate refinancing with the proceeds partially funding its acquisition of Leaders Merchant Services, the company announced Wednesday.

L.A. County Unemployment Falls in October

L.A. County’s robust labor market continued to gather steam in October as the unemployment rate fell to 4.7 percent from 4.9 percent in September and the county added 35,000 payroll jobs, the state reported Friday.

Nestle to Leave Glendale by July

In an updated filing with state regulators, Nestle USA said it will close its headquarters in Glendale on July 6, 2018.

Economist Says Valley Growing Faster Than L.A. County

The San Fernando Valley is the bright spot in the Los Angeles County economy, an economist told attendees Thursday morning at the first San Fernando Valley Economic Forecast sponsored by the Business Journal and California Lutheran University.

BlackLine, KPMG Form Partnership

BlackLine Inc. has formed an alliance with accounting powerhouse KPMG to sell their technology products to help improve accounting efficiencies.

Earnings: Tejon Ranch, Qualstar, Trio-Tech

Shares of Tejon Ranch, Qualstar and Trio-Tech rise after the companies report third quarter results.

PennyMac Financial's Shrinking Earnings Beat Expectations

Westlake Village’s nonbank mortgage lender PennyMac Financial Services Inc. reported third-quarter earnings above Wall Street expectations and anticipates minimal losses from hurricanes and wildfires, the company announced Thursday.