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BUSINESS
March 27, 2014 | By Shan Li
For the first time in months, most Californians are shelling out more than $4 for a gallon of regular gasoline. And with the busy summer driving season ahead, prices are likely to move even higher, fuel analysts said. It's a rite of spring as predictable as warmer weather or blooming flowers: Gasoline prices are edging up. A gallon of regular gasoline Thursday cost an average of $3.99 in the Golden State, the highest since September 2013, according to the AAA Daily Fuel Gauge report.
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CALIFORNIA | LOCAL
March 25, 2014 | By Emily Alpert Reyes
A war of words erupted Tuesday between two Los Angeles City Council members vying for control of the annual Fourth of July fireworks show at the Los Angeles Memorial Coliseum. In a blistering press release, Councilman Bernard C. Parks accused Councilman Curren Price and USC of "continuing what has become a petty retaliation effort" to force Parks out of the Fireworks Extravaganza he founded more than a decade ago. Parks said the university and some Coliseum Commission members have been at odds with him since he publicly opposed a deal giving USC control of the Coliseum, which he argued gave the community "little to nothing in return.
BUSINESS
March 21, 2014 | By Chad Terhune
U.S. lawmakers have asked Gilead Sciences Inc. to justify the price of its new $84,000 drug for hepatitis C patients amid growing concern about the high cost to taxpayers and consumers. In a letter to the Foster City, Calif., company, Rep. Henry A. Waxman (D-Beverly Hills) and two other Democratic lawmakers asked Gilead Chief Executive John C. Martin to explain the rationale for selling Sovaldi for $1,000 per pill. Medical experts say previous therapies for hepatitis C helped only about half of patients and had numerous side effects, such as flu-like symptoms, anemia and depression.
WORLD
March 16, 2014 | By Paul Richter
WASHINGTON - Supporters of Russian President Vladimir Putin expect to savor victory as residents of Crimea vote Sunday on splitting from Ukraine. But Western officials and analysts increasingly feel that in the long run, Russians will come to see their nation's military and political move into Crimea as a mistake. Two weeks after Russian forces entered the peninsula en masse, Russia's stock market and economic data have started to signal trouble - the start of what could become a lasting pullback by foreign investors.
BUSINESS
March 13, 2014 | By Tim Logan
Bay Area home prices continued their surge in February, even as the number of sales slumped. The median price of a house sold in the Bay Area hit $540,000, according to San Diego-based DataQuick. That's up 2.9% from January and one-third higher than the median price a year ago. INTERACTIVE MAP: Southern California home prices Sales volume fell 8.2% to its lowest February total since 2008 and sat nearly one-fifth below historical averages for the month. High prices and tougher mortgage requirements are factors, said DataQuick President John Walsh, but the biggest thing holding sales down is a simple lack of homes on the market.
BUSINESS
March 13, 2014 | By Vincent Bevins
RIO DE JANEIRO - Brazil's currency is called the real, which in Portuguese means both "royal" and, simply, "real. " But with prices skyrocketing ahead of the World Cup finals this summer, some locals in this famed beach city have created a mock currency they've dubbed the "surreal. " Adorned with the mustachioed face of Salvador Dali, the bills exist only as an Internet meme. Still, they have become the symbol of a digital protest movement. Fed-up Rio residents have taken to social media to share photos of price tags, receipts and menu items so pricey, it almost seems they could only have been dreamed up by the Spanish surrealist artist.
BUSINESS
March 12, 2014 | By Andrew Khouri and Tim Logan
The Southern California housing market is stuck in neutral, raising questions over whether the recovery will pick up this spring. Home prices stayed essentially flat in February while sales tumbled, research firm DataQuick reported Wednesday. Buyers continued to hold back even as more homes trickled onto the market. No one's predicting a new slump, but some experts believe the market has hit a plateau. "I think this year will be flat as a pancake," said Leo Nordine, a real estate agent in Redondo Beach.
BUSINESS
March 12, 2014 | By Andrew Khouri
Southern California home prices held steady last month while sales tumbled to a six-year low, further evidence that the market has stalled after a torrid rebound. The median home sale price in the six-county Southland inched up 0.8% from January to $383,000, research firm DataQuick said Wednesday. Prices shot up in the first half of 2013, but the region's median has been about the same since June. Still, the February median price was 19.7% higher than the same month in 2013 because of rapid price gains early last year.
BUSINESS
March 10, 2014 | By Salvador Rodriguez
Old rivals AT&T and T-Mobile are fighting again to the benefit of their customers. Dallas-based AT&T over the weekend announced that it will offer customers its 2-gigabyte Mobile Share Value data plan for $15 less than it previously did. At that price, a customer with a single smartphone line can get unlimited talk and text along with the 2 GB of data for $65 per month. We're continuing the trend of offering more value to our new and existing customers," said David Christopher, AT&T Mobility chief marketing officer, in a statement.
BUSINESS
March 9, 2014 | By Chad Terhune and Eryn Brown
A pair of new drugs to treat hepatitis C offer a cure for millions of Americans afflicted with the disease - but at a potentially staggering cost to taxpayers and health plans. Until now, therapies for hepatitis C helped only about half of patients and posed numerous side effects, such as flu-like symptoms, anemia or depression. In comparison, clinical trials of Sovaldi and Olysio have shown cure rates of 80% to 90% with far fewer complications. That progress, though, comes at a price.
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