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On brink of financial collapse, state lawmakers struggle with budget passage

a shared story    296 weeks 5 days 12 hours 37 minutes ago
Lawmakers continued struggling to pass a budget this afternoon after working nearly around the clock to end a three-month impasse that has brought California to the brink of fiscal collapse. An all-night legislative session failed to yield enough Republican votes for the spending plan, as GOP legislators...(more) 

Bikes help commuters get around gas prices

a shared story    328 weeks 3 days 23 hours 48 minutes ago
High gasoline prices are fueling bicycle sales, and on some days Michael Hall's blood pressure. At least three times a week, Hall pedals to his job in Hollywood from his home in northern Glendale, a 25-mile round-trip commute that is faster on two wheels than four. "It's definitely...(more) 

buzz  1  + buzz

Deutsche Bank lawyer found dead in apparent NY suicide: WSJ

a shared story    4 hours 31 minutes ago
BERLIN (Reuters) - Calogero Gambino, a senior Deutsche Bank regulatory lawyer, has been found dead in New York in what appears to have been a suicide, the Wall Street Journal reported on Saturday, citing New York City officials and other sources.  

Wholesale prices soar in June; sales are sluggish

a shared story    327 weeks 4 days 1 hour 11 minutes ago
The economy showed the depth of its twin problems on Tuesday, slow growth and rising inflation, as the nation wrestled with a teetering financial system, a slumping dollar and rising prices for food and fuel. The Labor Department reported that soaring costs for gasoline and food pushed...(more) 

In Silicon Valley, more homeowners are spending more than half their income on housing

a shared story    315 weeks 5 days 21 hours 20 minutes ago
Laura Meneses made the same fateful choice that thousands of local home buyers have made since 2004: She decided to spend most of her family's income on housing. Over the last four years, the number of Santa Clara County homeowners who spend over half their income on...(more) 

buzz  5  + buzz

Price to PepsiCo for Not Being in Court: $1.26 Billion

a shared story    260 weeks 2 days 11 hours 38 minutes ago
What's the cost of not showing up to court? For PepsiCo Inc., it's a $1.26 billion default judgment. A Wisconsin state court socked the company with the monster award in a case alleging that PepsiCo stole the idea to bottle and sell purified water from two...(more) 

As Finances Tighten, Furloughs Give Way to Pay Cuts

a shared story    220 weeks 3 days 9 hours 47 minutes ago
The furloughs that popped up during the recession are being replaced by a highly unusual tactic: actual cuts in pay. 

buzz  1  + buzz

India's finance minister favors interest rate cut: paper

a shared story    7 hours 31 minutes ago
NEW DELHI (Reuters) - India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation....(more) 

buzz  1  + buzz

China's auto market growth may halve to 7 percent this year: industry body head

a shared story    7 hours 31 minutes ago
SHANGHAI (Reuters) - Growth in China's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday.  

Jobs outlook weak as state's unemployment rate hits 6.9% in June

a shared story    327 weeks 7 hours 23 minutes ago
California's jobless rate crept ahead Friday as experts saw weakness spreading into new areas of the economy. For months, job losses were concentrated in the state's housing industry. But with June's increase of one-tenth of a percentage point to 6.9%, it was evident that a broader downturn...(more) 

buzz  10  + buzz

UC System Could Gain Millions From Stimulus

a shared story    298 weeks 6 days 21 hours 48 minutes ago
If the $819 billion stimulus package passed by the U.S. House of Representatives Wednesday survives the legislative gauntlet in the coming weeks, it would boost financial aid chances for students and pump millions of dollars into the University of California, higher education officials say. It is unclear...(more) 

Dow loses 777 points, Worst Single-Day Drop in Two Decades

a shared story    316 weeks 4 days 18 hours 16 minutes ago
Stocks fell by nearly 9 percent on Monday — the worst single-day drop in two decades — after the government’s bailout plan, touted by its supporters as a balm for the current market stress, failed to pass the House of Representatives, setting off a fresh wave...(more) 

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