San Diego Business Journal

SD FINANCE

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

Soon You Can Find an Additional ‘Item’ at Wal-Mart: Banking

Wal-Mart is back in the banking business, which is bad news for the banking industry, although it won’t say that.

Youngevity Essential Life Sciences Acquires South Carolina Company

Youngevity Essential Life Sciences, a wholly owned subsidiary of San Diego-based Youngevity International Inc., announced that it has completed the acquisition of South Carolina-based Restart Your Life LLC, a dietary supplement company and provider of immune system support products and therapeutic skin lotions.

NIH Grant Cuts Hit Some Biotech Companies

STARTUPS: Firms Forced to Look for Other Funding Sources

San Diego-based Paris Therapeutics obtained a license from the NIH for a therapeutic antibody for child and adult cancers. In the past, this might have been a clear path to federal funding.

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OneRoof Energy Announces Financing Agreements Worth $16.7M

OneRoof Energy Group Inc., a San Diego solar services business, said it entered financing agreements from Black Coral Capital LLC and affiliates of the Hanwha Group that provide about $16.7 million in new capital.

County Pension Board Votes Against Terminating Partridge and Salient Partners

The San Diego County Employees Retirement Association’s voted 5-4 against terminating their outsourced chief investment officer Lee Partridge and his firm, Salient Partners, at its Oct. 2 meeting.

North San Diego Business Chamber Hosts Minimum Wage Discussion

Advocates from various sides of the proposed minimum wage increase in San Diego will discuss the issue at the North San Diego Business Chamber ‘s Leaders of Change luncheon on Tuesday, Oct. 7.

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SDCCU Sponsors Aztecs Basketball

San Diego County Credit Union, the area’s largest credit union with $6.6 billion in assets, said it is a sponsor of the San Diego State University men’s basketball 2014-15 season.

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Acutus Medical Completes $26.2M Funding Round

Acutus Medical Inc., a San Diego-based medical device company developing tools for treating complex cardiac arrhythmias, announced it has completed a $26.2 million financing round to continue developing its imaging and mapping system.

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Ambit Biosciences to Be Acquired By Japanese Company

San Diego-based Ambit Biosciences Corp. and Japanese-based Daiichi Sankyo Company Ltd. jointly announced that they have entered into a merger agreement under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit Biosciences for approximately $315 million on a fully diluted basis or $15 per share.

Irwin Jacobs Makes Forbes' 400 Wealthiest Americans List

Qualcomm Inc. co-founder and retired chairman Irwin Jacobs was the only San Diegan to make this year’s Forbes list of the 400 wealthiest Americans.

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Excel Trust Buys Three Utah Retail Properties for $223 Million

San Diego-based Excel Trust Inc. has purchased a portfolio of three Utah retail centers for approximately $223 million, according to the parties and brokerage company involved.

Positive Results in a Meritage Pharma Trial May Be Step Toward Acquisition

San Diego-based Meritage Pharma Inc. announced positive final Phase 2 results of the company’s treatment for a chronic disease involving inflammation of the esophagus ─ eosinophilic esophagitis.

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Labor Forces

WORKFORCE: Demand Leads Companies in Key Industries to Fill Positions

San Diego’s labor market is looking up with more companies hiring local talent.

Home Bank Seems to Always Be Making Profitable Moves

When Home Bank of California changed its address last year and moved to Kearny Mesa from Pacific Beach, the idea was to mine the more heavily concentrated business neighborhood.

Pension Fund Officer’s Position Is in Peril

FINANCE: County Considers Trying Path With Less Risks

San Diego County’s employee pension fund would be better off adopting a safer, more traditional investing model rather than the higher-risk one now in place, said several investment professionals.