San Diego Business Journal


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

San Diego-based Viking Therapeutics Inc., a biotech company developing treatments for diabetes and metabolic disorders, has announced the estimated pricing of its initial public offering at $55 million – 5 million shares at a price range of $10 to $12.

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When Funds Flow

FINANCE: Biotechs Still Eyeing IPOs; VC Backing Is Strong in 2nd Quarter

Venture capital investment in the biotechnology sector of San Diego continues to climb despite the industry’s reputation of being volatile and risky.

Expanding Health Care Options Include Crossing the Border

INSURANCE: Plan Provides Primary Care In Mexico for Workers

A Chula Vista-based company is bringing a new offering to the table providing cross-border health options for people living and working on both sides of the U.S.-Mexico border.

Accion San Diego Receives Record Treasury Department Grant

Accion San Diego, the local microfinance lender that makes loans from $300 to $75,000, recently received the largest grant in its 20-year history when the U.S. Treasury Department gave it $880,000.

Venture Group’s New President Knows the Scene and San Diego

FINANCE: Mike Krenn Sees Opportunities, Expects More Investment Activity

The San Diego Venture Group named Mike Krenn, a longtime business-development professional, as its new full-time president.

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Achates Power Announces It Is Issuing $21.2M in Stock

Sorrento Valley-based Achates Power Inc. told U.S. securities regulators in a Sept. 5 filing that it was issuing $21.2 million in stock.

Pulse Electronics Sees Big Fluctuation in Stock

Shares of Pulse Electronics Corp., a San Diego manufacturer of electronic components in China, skyrocketed 53 percent on Sept. 9 to $3.10 before falling back to $2.50 as of mid-day Sept. 10.

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Quick Pitch Contest Announces Group of Finalists

The San Diego Quick Pitch Competition, now in its eighth year and renamed the John G. Watson Quick Pitch Competition, announced its field of 10 finalist startups.

Credit Union Membership Shows Biggest Jump in 25 Years

FINANCE: Low Rates On Loans, Higher Rates On Savings Draw Crowd

Credit unions continue to gain converts and recently surpassed the 100 million mark in membership, according to the Credit Union National Association, the trade group representing nearly 7,000 credit unions.

Cost of Compliance: Small Community Banks Say Dodd-Frank Reforms Are Unfairly Applied

Now in its fifth year, the Dodd-Frank banking reform law has had a profound effect on every bank, but smaller community banks say they’re feeling the impact from the added regulations far more than larger banks.

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Bond Market Snaps Up Sandag’s Latest Offering

FINANCE: Sale Brings In $54M Above the Face Value

A yield-hungry market recently gobbled up $350 million in bonds issued by the San Diego Association of Governments that pays an average of 3.85 percent over the 34 years the debt will be in place.

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Realty Income Names New Chief Operating Officer

Escondido-based Realty Income Corp. has appointed Sumit Roy to the post of chief operating officer, effective Oct. 1.

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WD-40 Completes Acquisition of UK Company

WD-40 Co., the San Diego based maker of lubricants and other household products, said it completed the acquisition of the business and assets of GT85 Ltd., a United Kingdom based company that sells multipurpose maintenance products.

Succession Capital Acquires Colorado Jewelry Maker

Succession Capital Inc., a San Diego based private equity firm, said it acquired Sienna Sky Jewelry, a maker and distributor of fashion jewelry based in Longmont, Col. for an undisclosed price.