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

a shared story    292 weeks 17 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) 



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Air France strike crisis deepens as both sides dig in

a shared story    1 hour 31 minutes ago
PARIS (Reuters) - A bitter Air France labor dispute deepened on Monday as management pledged to press ahead with its low-cost airline ambitions and pilots said that an eight day-old strike over the proposals would continue indefinitely as a result.  




Bikes help commuters get around gas prices

a shared story    323 weeks 6 days 4 hours 49 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) 




US existing home sales fall in August

a shared story    5 hours 31 minutes ago
WASHINGTON (AP) -- Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.... 




U.S. existing home sales fall as investors leave

a shared story    5 hours 32 minutes ago
WASHINGTON (Reuters) - U.S. home resales unexpectedly fell in August as investors stepped away from the market, but the decline probably does not signal renewed weakness in the housing sector.  




Wholesale prices soar in June; sales are sluggish

a shared story    322 weeks 6 days 6 hours 12 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    311 weeks 1 day 2 hours 21 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) 



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

a shared story    255 weeks 4 days 16 hours 39 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    215 weeks 5 days 14 hours 47 minutes ago
The furloughs that popped up during the recession are being replaced by a highly unusual tactic: actual cuts in pay. 



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Tesco suspends execs over inflated profit report

a shared story    7 hours 32 minutes ago
LONDON (AP) -- Tesco, Britain's largest retailer by revenue, has suspended four executives and launched an accounting investigation after admitting that its half-year profit was overstated by 250 million pounds ($407 million).... 



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Futures lower after China policy comments; housing data due

a shared story    7 hours 32 minutes ago
NEW YORK (Reuters) - U.S. stock index futures were falling on Monday, putting the S&P 500 on track to pull back from near-record levels after China's finance minister indicated the country will not increase stimulus measures and ahead of data on the housing market.  




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

a shared story    322 weeks 2 days 12 hours 24 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) 



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