San Diego Business Journal


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

Former Qualcomm Executive Pleads Guilty to Insider Trading

Sentencing of Jing Yang set for November.

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Sorrento Therapeutics Awarded NIH Grant for Development of Small Molecule Protein Inhibitor

The grant supports research based on biotechnology licensed from The Scripps Research Institute.

County Employees Retirement Fund's Recent Fiscal Year Return tops 13 Percent

The San Diego County Employees Retirement Association's fund is at a record $10.1 billion.

CHW Launches Online Financial Counseling for Hopeful Low- and Moderate-Income Homebuyers

The service, called E-asy Account, uses real-time consumer data to help clients set realistic financial goals.

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Microsoft Layoffs to Cut 378 Locally

Microsoft Corp. said it’s embarked on a restructuring that will cut 18,000 people over the next year, including 378 based at its Rancho Bernardo office that once belonged to Nokia, which Microsoft acquired in April for $7.5 billion.

County's June Unemployment Rate Climbs to 6.1%

San Diego’s unemployment rate increased to 6.1 percent in June, up from May’s 5.8 percent despite the area adding a net of 9,700 jobs to county payrolls.

Seacoast Commerce’s Quarterly Profit Doubles from 2Q 2013

Seacoast Commerce Bank was the area’s first community bank to deliver its second-quarter results, and it set the bar fairly high. For the quarter ended June 30, Seacoast Commerce, now in its 11th year and headquartered in Rancho Bernardo, reported net income of $501,000, or double what it did in profit for the same quarter of 2013.

County Retirees’ Group Cedes All Investment Decision-Making

Finance: Salient Praised For Better Returns; Board Extends Contract to 2019

The county’s employee pension fund, which exceeds $10 billion as of June, is now totally controlled by its outside chief investment officer, Salient Partners of Houston.

New Mortgage Regulations Open Door for Niche Software Co.

Finance: It Helps Brokers, Lenders With Fee Disclosure

Sometimes increased government regulation is a good thing.

City Wage Hike Has Some Seeing Red Ink

LABOR: Opposition Considers Options, Calls for Exemptions

Opponents of a local minimum wage hike were weighing their options, including a ballot referendum that would place the matter before voters, after the San Diego City Council’s recent 6-3 vote to raise the city’s minimum wage to $11.50 an hour by January 2017.

San Diego City Employees Retirement System Expects Return to Top Previous Year's 13.6%

The San Diego City Employees Retirement System, serving about 20,000 members mainly workers at the city of San Diego, said its total assets as of June 30 passed $7 billion and that its preliminary return for the fiscal year ended in June will exceed the 13.6 percent return it had in the prior fiscal year.

Seacoast Commerce Reports Q2 Results

Seacoast Commerce Bank, based in Rancho Bernardo and with three branches, reported second quarter net income of $501,000, double the figure for the like quarter of 2013.

Renovate America Closes $50M Equity Investment

Renovate America, a provider of so-called residential property assessed clean energy, or PACE, financing in the U.S. raised $50 million in growth equity from new and existing investors, the company said.

Health Issues Said to Be Behind Executive’s Leave of Absence, Resignation

Ralph Whitworth, co-founder of San Diego-based Relational Investors, an activist money management firm, has taken a leave of absence from the firm and resigned as interim chairman of Hewlett-Packard Co. to focus on his health, Relational said.

San Diego City Council Votes to Raise Minimum Wage

San Diego City Council has voted 6-3 to raise the city’s minimum wage to $11.50 an hour by January 2017.