Mission Valley Bancorp on Tuesday announced that its first quarter net income of $816,000, or 25 cents a diluted share, was up more than 16 percent from the same quarter last year.
The County of Los Angeles has launched an online portal in partnership with Goldman Sachs where small businesses affected by COVID-19 can apply for forgivable SBA loans.
As the economy continues to deteriorate, local experts have revised their predictions for GDP in the second quarter – and the outlook is even worse than they earlier expected.
PCF Insurance Services in Woodland Hills has been acquired by HGGC, a middle-market private equity firm in Palo Alto.
The economy is darkening rapidly, and on Thursday local experts said they now believe GDP will nosedive more than 20 percent in the second quarter.
The Los Angeles City Council late Friday approved a paid sick leave ordinance relating to the coronavirus pandemic.
Shocking plunges in the stock markets in recent weeks have prompted frantic calls from investors to their wealth managers.
Because of the near seizure of the economy prompted by the coronavirus scare, the second quarter may see GDP shrink by 13 percent.
About 76 percent of small businesses are being hurt by the coronavirus pandemic, according to a survey put out Monday by the National Federation of Independent Business.
Another massive selloff of stocks on Thursday caught Valley restaurant and real estate-related stocks in the downdraft.
The Dow Jones Industrial Average fell more than 2,000 points, or 7 percent, with nearly all Valley companies caught in the downward momentum.