CALIFORNIA | LOCAL
August 5, 2013 |
They're baaack . The state Assembly returns from its summer recess Monday with a full agenda of business to accomplish before it breaks for the year Sept. 13. The Assembly has yet to act on a package of a dozen gun control bills approved by the state Senate in response to the mass killing last year at Sandy Hook Elementary School in Connecticut. Another contentious measure pending action in the Assembly would regulate the use of hydraulic fracturing, or fracking, in the production of oil and gas in California.
August 3, 2013 |
WASHINGTON - Even by the standards of a Congress that has earned a reputation for dysfunction, this past week - the last before a long summer recess - set a mark for futility. Republican leaders in the House had hoped to pass a bill providing money for several major government agencies. Instead, they halted the vote after a GOP campaign to reduce spending levels hit an unexpected roadblock: Rank-and-file Republicans refused to approve cuts in programs that home-state governors and mayors rely on to fix roads, streets and bridges.
July 31, 2013 |
WASHINGTON -- The Great Recession wasn't quite as bad as previously thought and the recovery since 2009 has been a bit stronger, according to a periodic data recalculation designed to better reflect the economic impact of movies, TV shows and other intellectual property. The economy contracted an at average annual rate of 2.9% during the recession, which ran from the fourth quarter of 2007 through the second quarter of 2009, compared to the previous estimate of a 3.2% contraction, the Commerce Department said Wednesday.
July 23, 2013 |
It's no secret the recession wiped away many Americans' wealth and savings while altering spending habits. That has changed how many families are paying for college. A survey released Tuesday by Sallie Mae found that parents are now contributing less of their income for college than they did four years ago. Instead, families are relying more on grants and scholarships to cover the costs of higher education. They are also cutting expenses from the traditional college experience.
July 10, 2013 |
China's economic picture darkened in June as exports posted their biggest monthly drop since the recession. The unexpectedly weak June data, reported by Chinese officials Wednesday, suggests that the world's second-largest economy is still facing sluggish demand for its goods and could slow further than government and private forecasts. Chinese exports fell by 3.1% last month compared with a year ago, to about $174 billion. It was the biggest decline since October 2009. Analysts on average were expecting an increase of about 4%. The June exports volume was down an even bigger 7.4% compared with the previous month, seasonally adjusted, and it hasn't fallen that much since January 2009, said Capital Economics.
July 9, 2013 |
WASHINGTON - After leading the way out of the global recession, China and other big developing economies now are growing slower, a significant shift in momentum that augers weaker world growth and softer demand for U.S. exporters. The slowdown in developing economies has been building for some time but has captured greater attention recently because of China's credit crunch and the prospects of monetary policy tightening by the U.S. Federal Reserve. On Tuesday, the International Monetary Fund cut its U.S. and global economic forecasts for this year and next, citing primarily slower growth in key developing nations as well as a deepening recession in the Eurozone.
CALIFORNIA | LOCAL
June 28, 2013 |
The number of homeless people in Los Angeles County jumped by 16% over the last two years, fueled by lingering economic devastation from the recession and rising rents and housing prices, according to a survey released Friday. The sharp increase from 50,000 to more than 58,000 homeless people marked a departure from counts in 2011 and 2012, which showed reductions of 3% to 7% over previous years. And it came despite hundreds of millions of dollars in government aid pouring into the county each year to get people off the streets.
June 18, 2013 |
After four very dry years, money is finally flowing again to Los Angeles Unified schools. Next year's budget already is set, but for the three years after, there appear to be almost as many ideas for using the funds as there are actual dollars. Union allies put new hiring at the top of the spending list. The superintendent wants to raise salaries instead. The board president is more interested in extending the school year. Who would have guessed spending money could be this hard?
May 31, 2013 |
It's a given that the best luxury vehicles already come with the best of everything, including the wheels. But stock parts aren't good enough for some aficionados, even when the car costs more than $100,000. HRE Performance Wheels caters to that kind of automotive perfectionism. The company, based in the San Diego suburb of Vista, manufactures flashy wheels to order for owners of fancy rides at a cost of $3,000 to $20,000 for a set of four. But a business built on the vanity or performance needs of a relatively small class of consumers doesn't get to cruise unscathed through the twists and turns of international economies.
May 16, 2013 |
WASHINGTON - Europe's recession stretched into the first three months of the year, making it the single-currency region's longest downturn and raising concerns about its effect on the U.S. recovery. The 17-nation Eurozone economy contracted 0.2% in the first quarter compared with the previous quarter, according to data released Wednesday by Eurostat, the region's statistical office. It was the sixth straight quarter of contraction, exceeding the five-quarter recession from 2008-09.