San Diego Business Journal

SD FINANCE

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

Google Ventures Founder Reportedly Raising $230M For S.D.-Based VC Fund

Bill Maris, the founder and former head of GV, formerly Google Ventures, reportedly is raising a $230 million venture capital fund that will be headquartered in San Diego, the popular technology news website Recode said this week.

SeaWorld San Diego Cutting 60 Jobs Amid Nationwide Layoffs

SeaWorld San Diego is laying off 60 workers, as part of 320 nationwide job cuts announced Dec. 6 by its Florida-based parent firm, SeaWorld Entertainment Inc.

Local Job Growth Expected to Slow Next Year

Despite a hiring surge in health care and gains in hospitality, job growth in San Diego County will slow next year as the area’s high cost of living limits the inflow of job-seekers, according to a new report by Los Angeles-based Beacon Economics LLC.

Noble Americas Energy Solutions Acquired By Texas-Based Company

Power plant operator Calpine Corp. has acquired San Diego-based Noble Americas Energy Solutions LLC, one of the nation’s leading energy retailers.

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County’s Construction Starts Rise 29% in First 10 Months of 2016

The value of San Diego County’s construction starts rose 29 percent from a year ago in the first 10 months of 2016, topping $3.61 billion, according to the latest monthly figures from Dodge Data & Analytics.

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Innovative Industrial Properties Begins Selling Stock Shares

San Diego-based Innovative Industrial Properties Inc., a new investment company focused on medical-use cannabis facilities, plans a Dec. 6 close on a $67 million initial public offering of common stock that began on Dec. 1.

LPL Financial CEO to Retire January 3

Mark Casady, CEO of LPL Financial LLC, a custodian for registered investment advisors, and a wholly owned subsidiary of LPL Financial Holdings Inc., will retire Jan. 3, the company announced Dec. 5.

Biocept Receives Delisting Warning Letter From Nasdaq

Biocept Inc., a liquid biopsy test maker in San Diego, is facing potential delisting from the Nasdaq as the biotech's stock value has been less than $1 per share for too long.

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Renova Therapeutics Names New CFO

Local gene therapy biotech Renova Therapeutics Inc. has hired Catherine Bovenizer as the company’s new chief financial officer.

State Economic Index Increased 1.6 % in September

Comerica Bank's California Economic Activity Index increased by 1.6 percentage points in September to a level of 124.3, the bank said.

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Volunteers Mobilize to Deliver Special Thanksgiving Meals

More than 150 Outreach Impacting Lives volunteers distributed 900 Thanksgiving meals to enlisted military families in San Diego County through a collaboration with the Military Outreach Ministry or MOM San Diego. Each meal consisted of a 15-pound turkey and 10 side dishes.

PitchFest Competitors Head Into Final Inning

Four local startups have made it to the final round of San Diego Venture Group’s annual VC PitchFest.

One Acquisition Brings Change to Three Cos.

San Diego startup Email Copilot has been acquired by New York-based Return Path Inc., an email data software company. The Email Copilot team, however, isn’t leaving San Diego.

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Innovative Products Show Cos. Take Technology and Run With It, Swim, Too

San Diego’s oldest startup accelerator CONNECT has crowned 10 local companies “most innovative” of the year at its signature event — Most Innovative New Product Awards.

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Rancho Bernardo Office Property Housing Bel Fuse Sold for $3.5 Million

San Diego-based Sabin Holdings LLC has purchased a Rancho Bernardo office property currently housing Bel Fuse Inc. for $3.5 million, according to brokerage firm Colliers International Group Inc.