CALIFORNIA | LOCAL
July 28, 2004 |
The lingering sting from Orange County's 1994 bankruptcy may soon be a little less painful. The Board of Supervisors on Tuesday hired a consultant to help the county figure out the best way to pay back some of its bankruptcy debt early -- a strategy that could save the county about $143 million, one county official said. Orange County declared bankruptcy in 1994 after a risky borrow-and-invest strategy backfired, causing more than $1.6 billion in losses.
June 3, 2011 |
Car engines are getting smaller. Ford Motor Co. plans to add a three-cylinder engine to the lineup of vehicles it sells in North America. The automaker on Thursday unveiled details for the new power plant but did not say which models will have it, noting only that it will be in small cars. More specific information on what cars will have the engine is expected later this year. The new 1.0-liter EcoBoost three-cylinder — the smallest engine Ford has ever built — is patterned on the same technology used in much bigger vehicles, including Ford's F-150 pickup truck.
December 12, 2013 |
America's cars, trucks and SUVs took a record step in 2012 toward a cleaner future, with the average fuel economy for new vehicles hitting an all-time high of 23.6 miles per gallon, according to a new report released by the EPA. That average is a 1.2 mpg increase over 2011 vehicles, a jump that is the second highest in the last 30 years. Fuel economy has increased in seven of the last eight years, the agency announced in Thursday's report. "Today's new vehicles are cleaner and more fuel efficient than ever, saving American families money at the gas pump and helping to keep the air that we breathe cleaner," Janet McCabe, acting assistant administrator for EPA's Office of Air and Radiation, said in a statement.
August 28, 2012 |
WASHINGTON -- The Obama administration on Tuesday announced the final version of proposed landmark fuel-economy standards that would almost double the average gas mileage for each automaker's passenger vehicle fleet to 54.5 miles per gallon by 2025. Initially proposed a year ago, the final rules mark the latest step in a lengthy campaign by the administration to reduce greenhouse gas emissions and oil consumption. They build on the administration's ambitious standards that raise the average to 35.5 mpg over five years, ending with the 2016 model year.
August 21, 2013 |
WASHINGTON -- The Federal Reserve could start reducing its bond-buying program next month, but won't raise its near-zero short-term interest rate until at least 2016 -- a year later than current central bank projections suggest, Pimco Chief Executive Mohamed El-Erian said Wednesday. Speaking at a Washington panel on the economy, El-Erian predicted that policymakers would try to make more use of the Fed's forward guidance to try to offset the recent rise in long-term interest rates. Those rates have risen because investors have been anticipating the central bank decision to start tapering its $85 billion in monthly bond purchases.
CALIFORNIA | LOCAL
May 2, 2011 |
California's authority to enact automotive air pollution standards that are stricter than federal law has withstood legal challenge after a U.S. Court of Appeals ruled that the U.S. Chamber of Commerce and the National Automobile Dealers Assn. did not have legal standing in the case. Under the 1970 Clean Air Act, California may request waivers of federal standards to enact its own, stricter laws — a right granted because the state had its own pollution laws before the federal government's.