CALIFORNIA | LOCAL
November 20, 2013 |
SACRAMENTO - California's finances are improving faster than expected and schools could receive billions in extra funds next year, according to the Legislature's budget advisors. "The state's budgetary condition is stronger than at any point in the past decade," a report released Wednesday says. Higher-than-expected revenue, driven by the economic recovery and stock market gains, could pump more than $4 billion in unanticipated funds into schools and community colleges starting next summer, the report says.
October 25, 2013 |
The stock market has maintained its smooth upward pace since the government shutdown ended in mid-October. Perhaps too smooth. The record-breaking run that continued Friday is unnerving some on Wall Street who worry that stock prices are getting ahead of themselves. The market sailed to its third straight weekly gain with the Standard & Poor's 500 index notching a fresh high and the Dow Jones industrial average nearing a new peak. The Dow climbed 61.07 points, or 0.4%, to 15,570.28.
October 17, 2013 |
Instead of searching for hidden gems, the managers of AdvisorShares' short-only Ranger Equity Bear fund spend their days scouring the stock market for sinking ships. Brad Lamensdorf and John Del Vecchio, co-managers of the exchange-traded fund, have targeted four companies they believe will cut dividends because of cash-flow problems, making them less attractive to investors: -- Diebold Inc., a North Canton, Ohio, company that makes ATMs, voting machines and security equipment.
October 14, 2013 |
NEW YORK --The clock is ticking for a potential U.S. default, but financial markets remained relatively calm despite Washington's failure to raise the country's borrowing limit. Stocks fell modestly in early trading on Monday, after congressional leaders and President Obama failed to end their stalemate over federal spending and the healthcare overhaul. Monday is Columbus Day, however, and bond markets are closed. But as Thursday's deadline to increase the nation's so-called debt ceiling approaches, markets could become increasingly volatile, especially if Washington shows no signs of ending its brinkmanship.
October 14, 2013 |
The question seems simple, but shedding light on the answer was worth a Nobel Prize for three American economists: How do we know how much an item is worth? Eugene F. Fama and Lars Peter Hansen of the University of Chicago and Robert J. Shiller of Yale University spent decades working on that problem, separately pioneering two competing views on finance that have strongly influenced the way people save and invest as well as major issues in public policy. Fama, 74, spent a five-decade career in Chicago demonstrating how well free markets can determine the value of stocks, bonds and other assets.
October 11, 2013 |
On a day the stock market soared 323 points for the Dow Jones industrial average, there were also big winners in a lucrative pick six at Santa Anita on Thursday. A $575,266 carryover pool brought out the pick-six bettors. The total pick-six pool reached $2,854,407 for those trying to pick the winners in Races 3 through 8. There were 124 winning tickets that paid $14,467.60. Helping the bettors were even-money favorites that won the first and last races in the pick six. The biggest-priced horse to win was Artic North in the seventh race in returning $13.20.