San Diego Business Journal


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

SmartDrive Systems Raises $50 Million in Venture Funding

SmartDrive Systems said on March 30 that it raised $50 million of additional venture funding.

By Brad Graves March 31, 2015 3:08 p.m.   Share
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Petco Being Acquired for $4.6 Billion

Private equity firm CVC Capital Partners and Canada Pension Plan Investment Board have signed an agreement to acquire the holding company for San Diego-based Petco Animal Supplies Inc. for $4.6 billion.

County's October Unemployment Rate Increases to 5%

San Diego’s unemployment rate climbed back up to 5 percent in October, up from 4.6 percent in September, as the county’s job growth failed to keep pace with an expanding labor force.

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HUYA Bioscience Gives Even More to Fight Against Cancer

HUYA Bioscience International recently celebrated the 10th anniversary of the company’s founding at the US Grant hotel in San Diego. The event included live entertainment and video greetings from colleagues and key opinion leaders in Japan and China. As part of HUYA’s mission to develop new treatments for cancer, the company announced that it has donated $20,000 to Breast Cancer Angels, a nonprofit providing financial and emotional assistance to breast cancer patients and their families. The organization accepted the donation and shared its experiences with the guests.

San Diego County Credit Union Membership Up 10 Percent

San Diego County Credit Union’s membership grew to 300,000 customers by the end of September, a 10 percent increase from the year before, the credit union said in its third quarter earnings report.

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Insurers Adapt to Sharing Economy

SERVICE: Policyholders, Cos. Find It’s Complicated

The companies emerging out of the sharing economy offer ways for users to make money using previously untapped resources, such as renting out an unused apartment for the weekend through Airbnb or inviting others over for a restaurant-quality meal with Feastly.

Novatel Wireless Raises Revolving Line of Credit to $48 Million

Novatel Wireless Inc. said Nov. 17 that its bank raised the amount of its revolving line of credit to $48 million.

ID Analytics Names Eric Lindeen VP of Marketing

ID Analytics, a consumer risk management firm, announced the appointment of Eric Lindeen as the vice president of marketing, reporting directly to the CEO Scott Carter.

Business Confidence Lowest Since 2013, Chamber Survey Finds

The San Diego Regional Chamber of Commerce’s measure of business confidence fell to its lowest point since the survey began in 2013, following three months of year-long lows as businesses reported low expectations for future revenue growth.

Illumina Inc. to Get Spot on Standard & Poor's 500 Stock Index

Illumina Inc. will get a place on the Standard & Poor’s 500 stock index after the close of trading on Wednesday, Nov. 18.

Miramar Federal Credit Union Granted SBA Lender Status

The Small Business Administration has granted Miramar Federal Credit Union SBA lender status, the credit union said Monday, allowing it to participate in SBA-backed loans.

ResMed Acquires Maribo Medico

Medical device maker ResMed Inc. announced Monday that it has acquired Maribo Medico, a Denmark-based company specializing in sleep-disordered breathing medical devices.

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Developer Secures Equity Funding for $48 Million Little Italy Project

Locally based CityMark Development has obtained equity funding for a $48 million mixed-use apartment project previously announced for Little Italy, called Kettner Lofts, according to Fident Capital, which secured the financing.

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Scripps Gets $700K for Earthquake Detection and Warning System

Scripps Institution of Oceanography at University of California, San Diego received a gift of $700,000 from Seismic Warning Systems Inc., a private company that provides seismic detection and earthquake warning systems and services, in order to continue operating a key Southern California earthquake monitoring network.

BDO USA Is Acquiring Carlsbad-based CEA LLP

National accounting and consulting firm BDO USA LLP will acquire Carlsbad-based CEA LLP next month, expanding BDO’s staff to about 90 and making it the fifth-largest accounting firm in the county, the companies announced.

Ron Araujo Tapped to Lead Mission Federal's Service Organization

Ron Araujo, the chief financial officer for Mission Federal Credit Union, will soon step down to become president of Mission Fed’s service organization.