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Short of Cash, California Will Start Paying With I.O.U.’s

Vendors and taxpayers awaiting refunds will get i.o.u.’s as the governor and state lawmakers continue to wrangle over how to close a $27 billion budget gap.

Europe’s Central Bank Holds Rate Steady

Having lowered its main refinancing rate to 1 percent, the bank appears to have adopted a wait-and-see approach to additional stimulus.

In Drive for Wind Power, Man Who Led Coal Plant Seeks Atonement

Min Deqing says he delayed installing pollution controls at his coal plant, and hopes to redeem himself by promoting clean energy.

U.S. Inquiry Is Confirmed Into Google Books Deal

The Justice Department confirmed it was conducting an antitrust investigation into a settlement of a class action between Google and groups representing authors and publishers.

Factory Orders Rise for Third Time in Four Months

A bleak jobs report somewhat offsets a moderating trend in manufacturing.

Unauthorized Trades Cost London Oil Broker Millions

An employee at the London oil broker made the transactions, which also contributed to a spike in prices.

Chicago Computer Problem Stalls United Airlines Flights

United Airlines struggled to repair a computer problem at O’Hare International Airport in Chicago, causing delays that rippled across the country.

SoCal-to-Vegas route wins federal designation

The clogged tourist travel route between Southern California and Las Vegas has been designated a federal high-speed rail corridor, in a move that officials hope would signal increased cooperation between the regions on building speedier train travel. U.S....

Sponsored Topics: Ray LaHood - High-speed rail - Southern California - United States Secretary of Transportation - Las Vegas Nevada

Santa Clara authorities bust pot garden

Santa Clara County sheriff's deputies have seized more than 6,000 marijuana plants with a street value of $18 million. The two large gardens that housed the plants were found Wednesday morning in the hills above San Jose. Authorities say 24-year-old Jesus...

Sponsored Topics: San Jose California - Santa Clara - California - Santa Clara County California - United States

F.D.I.C. Closes Seven More Banks

Six Illinois banks and one bank in Texas were closed by federal regulators on Thursday.

Japan official: U.S. economy has yet to hit bottom

Japan's newly appointed economy minister says the U.S. economy is still worsening.

Mass. firm gets loan for NY energy storage system

A Massachusetts company says the federal government has approved a $43 million loan guarantee to help finance a 20-megawatt energy storage system for New York's electrical grid. Beacon Power Corp. said in a statement that the loan from the U.S. Department of...

Sponsored Topics: New York - Energy - Grid - Beacon Power - Technology

Report: MLB loans millions to Rangers owner

Major League Baseball has loaned millions to Texas Rangers owner Tom Hicks, Yahoo! reported. The league would not go into details about any borrowing, but said it was assisting Rangers owner Tom Hicks with the sale of the franchise. "Tom is the control...

Sponsored Topics: Major League Baseball - Texas Rangers - Sports - Baseball - John Blake

Judge will consider Stanford request for money

A federal judge in Dallas says he will consider a modest request for money to pay lawyers and accountants to comb through R. Allen Stanford's personal assets to find money untainted by an alleged $7 billion fraud. The Texas financier asked U.S. District Judge...

Sponsored Topics: Allen Stanford - Texas - United States federal judge - Fraud - Business

Market Tough For Older Workers Post-Layoff

Like many unemployed older workers, 64-year old Allan Kellum fears his age has made it harder to find a new job. At a recent job fair, Kellum expressed interest in a supervisory role coordinating an international health assistance program. A recruiter set him straight: "The people applying for that are young."

Beijing central property prices up 6.5% in a week

Beijing’s property prices are climbing at an unsustainable rate, with residential property in the city center leaping 6.5% in the past week alone, according to a state-media report.

Jackson ex-wife shows interest in custody of kids

The future of Michael Jackson's children was thrown into question Thursday when his ex-wife emerged and won a delay in a custody hearing while she decides whether she wants to raise her two offspring. It was the first legal move from Deborah Rowe since the...

Sponsored Topics: Michael Jackson - Singing - Family - United States - Counties

NKorea fires missiles; launch toward US feared

North Korea fired a barrage of short-range missiles off its east coast in a possible prelude to the launch of a long-range missile toward Hawaii over the U.S. Independence Day holiday. Firing a ballistic missile on the July Fourth celebration would be a...

Sponsored Topics: North Korea - Nuclear testing - Pyongyang - South Korea - Asia

D Rob Scuderi, L.A. Kings agree to 4-year deal

The Los Angeles Kings have a four-year deal in place with free agent defenseman Rob Scuderi, who is leaving the Stanley Cup champion Pittsburgh Penguins. The contract was agreed to Thursday, the second day of NHL free agency. Scuderi was part of Pittsburgh's...

Sponsored Topics: Rob Scuderi - Pittsburgh Penguins - Hockey - National Hockey League - Los Angeles Kings

Pay-for-Chat Plan Falls Flat at Washington Post

A plan to bring editors and lobbyists to the publisher’s home brings a critical reaction from the newsroom.

Short on Cash, California Will Start Paying With I.O.U.’s

Vendors and taxpayers awaiting refunds will get i.o.u.’s as the governor and state lawmakers continue to wrangle over how to close a $27 billion budget gap.

AEG boss says Jackson insurance covers overdose

Concert promoter AEG Live's chief executive said Thursday that insurance will help cover any losses on the now-canceled Michael Jackson concert series if the pop star died accidentally _ including of a drug overdose _ but not if he died of natural causes....

Sponsored Topics: Michael Jackson - Drug overdose - Arctic Equestrian Games - Insurance - Financial Services

Obama to tell Putin: Time to move past Cold War

Days from his first Moscow summit, President Barack Obama declared Thursday that former Russian President Vladimir Putin "still has a lot of sway" in his nation and needs an in-person reminder the Cold War is over. On next week's trip, Obama will meet not...

Sponsored Topics: Barack Obama - White House - Unemployment - Associated Press - United States

UN chief to lobby Myanmar for Suu Kyi's release

The U.N. secretary-general said ahead of his trip Friday to Myanmar that he plans to lobby the military-ruled country's top leader directly for the release of pro-democracy leader Aung San Suu Kyi. U.N. Secretary-General Ban Ki-moon was due to arrive in...

Sponsored Topics: Aung San Suu Kyi - Burma - Ban Ki-moon - Myanmar - Aung San

Unauthorized Trades Cost PVM Almost $10 Million

An employee at the London oil broker made the transactions, which also contributed to a spike in prices.