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Business Journals
07-07-2025
- Business
- Business Journals
Daily Digest: New international route lands in Oakland, SFPD brings back retired officers
Happy Monday, Bay Area. Kicking off with economic news, President Donald Trump's administration says it will be sending letters today informing countries of the tariffs the U.S. will impose on their exports beginning Aug. 1. More on this as it develops. In other news, according to J.P. Morgan's recently released 2025 Business Leaders Outlook Pulse Survey, compared with the start of the year, optimism for the national economy has fallen by more than half, dropping from 65% in January to 32% in June. In line with these findings, there was an increase in recession expectations among business leaders — 25% of respondents expect a recession in 2025, up from 8%. At the intersection of automobiles and politics, Tesla Inc. stock (Nasdaq: TSLA) slid more than 7% during Monday's session after CEO Elon Musk said over the weekend that he formed a new political party dubbed the "America Party." Turning to gambling, California Attorney General Rob Bonta said last week that gambling on sporting events is illegal in California, except for betting on horses at racetracks. In response, a handful of lawmakers said Bonta's assessment would be challenged in court by gambling advocates. And finally, the Mercury News reports that Immigration and Customs Enforcement arrests have shot up 77% in Northern California based on recently released data from ICE. However, the regional increase is less dramatic than the nationwide spike, which has grown 90% since January 2025. Here's the rest of what's stirring the pot in business to start your workweek. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events Airline opens new route from Oakland to Mexico Mexican ultra-low-cost airline Volaris last week inaugurated its new route connecting the Oakland airport with Zacatecas, a central Mexican city known for its past history as a silver mining hub in the 16th century. 'We are thrilled to launch this new route, connecting two emblematic cities like Oakland and Zacatecas. This is another step forward in our goal to continuously diversify our route offerings for the benefit of our customers on both sides of the border,' Jorge Roberto García Rojas, director of distribution and market development at Volaris, said in a statement. Since Volaris began operations in Oakland in 2009, the airline has transported over 4 million travelers through six routes. SFPD to bring back retired police officers for special events San Francisco Mayor Daniel Lurie on Monday announced that the city will soon aim to bolster its ranks by hiring recently retired police officers to staff concerts and other events as well as homeless shelters. City officials and the police union in late June agreed on the plan, which is expected to free up current officers for patrol and investigative duties and cut down the use of overtime. 'The Special Events Officer Program gives us a smarter way to deploy resources, expanding our presence at major events and critical sites while keeping officers on the beat and bringing down mandatory overtime,' SFPD Interim Chief Paul Yep said in a statement. University of California president sends letter to chancellors regarding ban on boycotts Outgoing University of California President Michael Drake last week said in a letter to chancellors of the UC system that student governments are prohibited from financial boycotts of companies associated with any particular country, including Israel. "Actions by University entities to implement boycotts of companies based on their association with a particular country would not align with these sound business practices," Drake wrote. A UC spokesperson said financial boycotts are inconsistent with UC's commitment to competitive bidding practices, academic freedom and the free exchange of ideas. However, U.S. laws also prohibit or heavily restrict business dealings with several countries due to sanctions, such as Iran, Russia and Cuba, among others. Sign up for the Business Times' free morning and afternoon daily newsletters to receive the latest business news driving change in San Francisco. Download the free San Francisco Business Times app for breaking news alerts on your phone. Funding Watch AirGarage, a San Francisco provider of parking facilities management software, raised $23 million in Series B funding, Axios reports. The funding was led by Headline and joined by Founders Fund and Fourthline Capital Management. Entrepreneur and angel investor Kulveer Taggar has launched a new investment firm, Phosphor Capital, focused on investing in early-stage companies that have participated in Y Combinator. To date, Phosphor Capital has raised and invested $34 million. Portfolio companies include Reducto, Delve, Circleback and Gumloop, the company stated in a release. Real Estate Watch Agent Phil Chen of Christie's International Real Estate Sereno said he's seeing a new generation of tech and finance buyers gravitate toward Hillsborough for its luxury and natural beauty. Chen and Paul Zinchik of Compass are the listing agents on 20 Pine Ct. in Hillsborough, a five-bedroom home designed by renowned architect Sean Bailey that's now listed for $13.8 million. expand 20 Pine Ct. in Hillsborough is listed for $13.8 million. David Eichler A buyer earlier this spring snapped up 21 Everson St. in San Francisco's Glen Park for $12.5 million after the 9,700-square-foot estate, owned by Ben Ling, founder of early stage tech-focused Bling Capital and a former executive at Facebook, YouTube and Google, had listed it for $22 million before going down to $17.5 million earlier this year. The buyer was 1plus2plus3plus4plus5plus6 LLC. Vanguard Properties Frank Nolan was the listing agent. expand 21 Everson St. in Glen Park Olga Soboleva Final thought … As speed cameras have begun citing scofflaws in San Francisco and some other California cities, new technology is now being pointed at another ubiquitous phenomenon: illegal fireworks. As it turns out, some California cities, including Sacramento, have begun using drones to locate people shooting off illegal fireworks and cite them. And while San Francisco and Oakland are not yet among these ranks, don't expect the momentum for drone enforcement to fizzle any time soon. DOWNLOAD the free SFBT app for breaking news alerts on your phone. The Highest-Paid CFOs in the Greater Bay Area Total compensation Rank Prior Rank Person 1 1 Ashkenazi, Anat 2 4 Porat, Ruth 3 5 Maestri, Luca View this list
Business Wire
25-06-2025
- Business
- Business Wire
J.P. Morgan Survey: Middle Market Business Leaders Demonstrate Resilience
NEW YORK--(BUSINESS WIRE)--Middle market business leaders remain resilient despite economic uncertainty, according to J.P. Morgan's 2025 Business Leaders Outlook Pulse Survey released today. Compared with the start of the year, optimism for the national economy fell by more than half, dropping from 65% as reported in January, to 32% in June. In line with these findings, there was an increase in recession expectations among business leaders: 25% of respondents expect a recession in 2025, up from 8%. There are a number of external factors impacting business plans, with 44% of leaders reporting they delayed their plans to some extent. Among those reporting changes to their plans, top factors include: Policy uncertainty (74%) Market volatility (37%) Shifts in customer demand (37%) Geopolitical events (35%) Overall, the top three challenges facing companies are uncertain economic conditions (55%), tariffs (41%) and revenue and sales growth (41%). Despite the decline in economic optimism, confidence in individual business performance remains strong. Business leaders are resolute in their strategic planning, with many not altering their strategies despite external challenges. Forty percent of leaders report that they are not making any changes to their plans, and 14% have accelerated plans. The majority (85%) of respondents are projecting steady to increased company performance through the end of the year. Additional performance expectations include: 78% expect revenue and sales to increase or remain the same 73% expect profits to increase or remain the same 37% plan to increase headcount, while 45% plan to keep headcount the same 'Businesses are operating with caution in the current environment,' said Matt Sable, Co-Head of J.P. Morgan Commercial Banking. 'Leaders are recalibrating where necessary to ensure they can continue to deliver for their clients and communities, highlighting their resilience and determination.' Visit for more information on the 2025 Business Leaders Outlook Pulse Survey. Survey Methodology J.P. Morgan's Business Leaders Outlook Pulse Survey was conducted online from June 4-18, 2025 for middle market businesses (annual revenues between $20 million and $500 million). In total, 718 U.S. business owners and leaders across various industries participated in the survey. The results of this online survey are within statistical parameters for validity, and the error rate is plus or minus 3.7% and a 95% confidence level. About JPMorganChase JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ('U.S.'), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $351 billion in stockholders' equity as of March 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at
