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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

Fitness App Maker Zwift Secures $450 Million in Funding

Zwift Inc., the Long Beach-based maker of a popular at-home cycling and running app, has raised $450 million in Series C funding.

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SPAC Attack: Investment Vehicles See Surge in Popularity

Special purpose acquisition companies, or SPACs, are in the midst of their biggest moment yet.

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Local Credit Unions Offer Relief From Financial Storm

When the novel coronavirus pandemic first took hold in California, the state’s credit unions acted quickly.

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L.A. County Unemployment Falls in August

L.A. County’s unemployment rate fell to 16.1% in August from a revised 17.9% in July.

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Mesa West Capital Is Poised to Thrive Amid Pandemic

Having survived one major recession and seen long-term growth in its wake, Mesa West Capital believes the aftermath of Covid-19 could create similar opportunities in their space.

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Broadway Financial Merger Makes History

Hancock Park-based Broadway Financial Corp. is set to become the largest Black-led bank in American history.

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Inglewood Bitcoin Firm to Expand In-Person Centers

After months of webinars and Zoom meetings, Crypto Blockchain Plug Inc. is coming back to the physical world.

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Flying Eagle Sets Deal for Mobile Gaming Company Skillz

Flying Eagle Acquisition Corp., a Century City-based special purpose acquisition company, or SPAC, plans to merge with mobile gaming platform Skillz Inc.

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Bonfire Ventures Raises New $100 Million Fund

Santa Monica-based Bonfire Ventures, which focuses on investments in business-to-business software companies, has raised $100 million for its second venture fund.

Upfront Backs Glendale Cloud Security Firm

Cybersecurity company Britive Inc. has raised $5.4 million in late seed stage funding.

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Colony Capital Issues $113 Million Repurchase Offer

Downtown-based real estate investment company Colony Capital has offered to repurchase any or all of its outstanding 3.875% convertible senior notes due in 2021.

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Entertainment Payroll Startup Wrapbook Raises $4 Million

Entertainment payroll and insurance platform TakeOne Network Corp., doing business as Wrapbook, has raised $3.6 million in seed funding.

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Film Tax Credit Programs Face Uncertain Future

Lending against California’s film tax credits has emerged as a niche industry in recent years. Some industry insiders say this practice will thrive, but others predict the film tax credit space may be in for rough times ahead.

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LA County Jobs Data Mixes Good News With Bad

The snapshot of L.A.’s economy in July was a good news, bad news story.

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Digital Security Firm Signal Sciences Sells for $775 Million

Culver City-based online security company Signal Sciences Corp. has agreed to be acquired by Fastly Inc. in a $775 million deal.

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