Biotech giant Amgen reported a 5 percent dip in second-quarter earnings despite slightly better revenues on July 29. The Thousand Oaks-based company earned $1.2 billion, or $1.25 per share, compared with $1.3 billion, or $1.25 for the same quarter in 2009. It blamed the loss in profitability on higher taxes.

UC Santa Barbara brought in $222 million in external research funding during its last fiscal year, topping all of its old totals. The university called the record-breaking sum “directly attributable to the federal stimulus program.”

Athletic shoe company K-Swiss said July 29 that it had acquired Laguna Beach-based mixed martial arts brand Form Athletics for an undisclosed amount, bringing the company’s founder on board to lead the Westlake Village-based firm’s push into the youth products market. K-Swiss has been working to modernize its brand, which is still largely known for its classic white tennis shoe, for years.

Under a new order from federal regulators, Solvang-based Harrington West Financial Group, parent company of Los Padres Bank, has until the end of the week to boost its capital levels or have the U.S. Office of Thrift Supervision step in.

Delta Airlines announced July 28 that it will cancel its twice-daily flights between Santa Barbara and Salt Lake City.