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Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Barrack Out on Bail, Abandons SPAC Plans

Thomas Barrack, the private equity investor who's facing federal lobbying charges, has withdrawn plans to raise $250 million for his special acquisition purpose company.

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5th Kind Nabs $5 Million Private Equity Investment

5th Kind Inc., the maker of a software management tool used to track film productions remotely, received $5 million from a private equity firm.

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Faraday Future Goes Public in $1 Billion Deal

Beleaguered electric vehicle company Faraday Future Inc. made its debut as a public company July 22.

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Payday Lending Tumbles 39% During Pandemic

California’s payday lenders saw a huge drop in the number of loans and dollar volume during the pandemic.

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Investor and Trump Ally Tom Barrack Arrested on Lobbying Charge

Tom Barrack, a private equity investor and Trump ally, was indicted on charges of acting to advance the interests of the United Arab Emirates.

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LA Companies Retain Remote Work Even as Pandemic Eases

L.A. companies are keeping remote work structures even as the pandemic eases.

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Stamps.com to Be Acquired for $7 Billion

El Segundo-based ecommerce postage company Stamps.com Inc. will be acquired by Thoma Bravo, a Chicago-based private equity firm, for $6.6 billion in cash.

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Unemployment Rate Drops to 10.6% In June

Los Angeles County’s unemployment rate dropped in June to 10.6% from a revised 10.7% in May.

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MedMen Names Turnaround Specialist as CEO

Turnaround specialist Tom Lynch was named as permanent chief executive of cannabis retailer MedMen Enterprise Inc.

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Platinum Equity Acquires Oregon Tool

Platinum Equity has acquired Oregon Tool, a maker of chainsaws, cutting tools, outdoor equipment accessories and parts.

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Royal Business Bank Buys Honolulu Branch for $3 Million

RBB Bancorp has acquired the Honolulu branch office of the Bank of the Orient.

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Houlihan Lokey Acquires Advisory Firm Baylor Klein

Investment bank Houlihan Lokey has purchased boutique advisory firm Baylor Klein.

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Platinum Equity to Buy Water Treatment Company Solenis for $5.3 Billion

Billionaire Tom Gores’ Beverly Hills-based private equity firm Platinum Equity has agreed to buy Wilmington, Del.-based Solenis in a deal valued at $5.25 billion.

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Shamrock Raises $196 Million for Entertainment IP

Westwood-based Shamrock Capital Advisors has raised $196 million to originate loans to owners of entertainment intellectual property rights in the film, television, music, games, sports media and other content sectors.

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Platinum Equity Buys Flooring Distributor Paramount Global Surfaces

Beverly Hills-based private equity firm Platinum Equity has acquired luxury porcelain tile distributor Paramount Global Surfaces from Linsalata Capital Partners Inc.

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