September 18, 2013 |
SAN FRANCISCO - Google Inc. believes that making big gambles can yield revolutionary advances, whether it be cars that drive themselves, wearable computers connected to the Internet or air balloons that beam wireless Internet access to remote areas of the world. Now it's searching for ways to keep people alive longer. The technology giant said Wednesday that it's a major investor in a venture that would work on combating aging and disease. But Google declined to provide any more details on how the venture would operate or what it would do. Google is not the first technology company to make the leap into healthcare.
September 17, 2013 |
In one of the largest office building sales of the year in the Inland Empire, investor Michael G. Rademaker has acquired buildings in Ontario and Rancho Cucamonga in a $26.6-million transaction. Rademaker, founder and chief executive of Upland property brokerage MGR Real Estate, bought Centerlake Plaza. The six-story building at 3401 Centerlake Drive sits on more than 3.5 acres near the intersection of Haven Avenue and the San Bernardino Freeway in Ontario. As part of the deal, he and his partners also bought the two-story Havengate Center at 10350-10390 Commerce Center Drive in Rancho Cucamonga.
CALIFORNIA | LOCAL
September 16, 2013 |
SACRAMENTO -- Two GOP lawmakers who will compete next year for a seat on the state Board of Equalization are now duking it out in court. Assemblywoman Diane L. Harkey (R-Dana Point) recently sued state Sen. Mark Wyland (R-Escondido) for defamation and emotional distress after he made comments about legal troubles facing Harkey and her husband during a July speech to a Tea Party group. Harkey's husband, Dan, has been embroiled in a lawsuit by more than 40 plaintiffs alleging fraud by his company Point Center Financial.
September 16, 2013 |
SACRAMENTO -- California lawmakers have sent the governor a bill that would end state efforts to collect a retroactive tax increase from investors. A signature by Gov. Jerry Brown would relieve about 2,000 taxpayers from having to pay $120 million in back taxes. The California Franchise Tax Board made an effort to collect the money after the state Court of Appeal ruled that a tax break, known as the Qualified Small Stock exemption, was partially unconstitutional. That left shareholders on the hook for income from stock sold between 2008 and 2012.
September 13, 2013 |
There are two ways to think about how far we've come in protecting against a repeat of the financial meltdown five years ago that plunged the world into recession. You can conclude that we've pretty much eradicated the risk of another such crisis. That's the bankers' viewpoint. Here's how Morgan Stanley Chief Executive James Gorman put it in an interview with Charlie Rose earlier this month: " The probability of it happening again in our lifetime is as close to zero as I could imagine.
September 12, 2013 |
LONDON - Britain's Royal Mail, whose origins date back to the reign of Henry VIII, is to be sold off to private investors, the government announced Thursday, setting up a bitter battle over the selling of a national icon. Even former Prime Minister Margaret Thatcher, who happily sold off other services such as Britain's railways, considered unloading the Royal Mail a step too far, reputedly saying that she wasn't ready to “have the queen's head privatized.” Queen Elizabeth II's profile appears on all stamps in this country.
August 31, 2013 |
The stock market finished its worst month in more than a year, with the specter of military action in Syria and reduced stimulus from the Federal Reserve weighing on share prices. The Dow Jones industrial average and other major indexes suffered their biggest declines since May 2012 as investors stepped away from the powerful yearlong rally. The Dow dropped 4.4% in August, while the Standard & Poor's 500 gave up 3.1%. Stocks have a lot going their way. The U.S. economy expanded at a stronger-than-expected 2.5% clip in the second quarter.
August 30, 2013 |
BUENOS AIRES - When the Argentine oil company YPF announced two years ago that it had discovered some of the world's largest reserves of shale gas and oil on a barren plain in Patagonia, many began looking to the energy industry as the answer to Argentina's financial woes. The country's growing dependence on foreign fuel has been a main driver of economic instability. Oil and gas imports have drained currency reserves, and large energy subsidies have contributed to a soaring inflation rate.
August 23, 2013 |
NEW YORK - Investors shook off the after-effects of the Nasdaq Stock Market's three-hour outage, which rattled investor confidence in high-speed electronic trading, and spurred the major indexes to a second straight day of gains Friday. Nasdaq's technical snafu, dubbed a flash freeze, renewed fears of Wall Street technology run amok, but investor worries seemed to ebb. On Friday, Robert Greifeld, chief executive of the exchange's parent company, Nasdaq OMX Group Inc., defended the company's response and declared the exchange "came back successfully" from Thursday's outage.