CALIFORNIA

Galleon's Rajaratnam seeks to unseal Khan records

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Galleon Group founder Raj Rajaratnam, accused in the biggest U.S. hedge fund insider trading case, has asked a federal court to unseal records of a 2001 criminal charge against former trader Roomy Khan, one of the government's cooperating witnesses.
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Chinese quiz Obama on trade, Tibet and Yao Ming

Chinese Internet users want to quiz U.S. President Barack Obama about trade feuds, basketball, Tibet and whether he will cede California to China, according to websites seeking questions for a town hall meeting.
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Calpers chief backs lobbyist rules for placement agents

The president of Calpers urged fellow board members at the biggest U.S. public pension fund on Wednesday to back his plan to require placement agents to be subjected to laws for lobbyists in response to events alleging their undue influence over investment decisions.
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K-Swiss unveils $70 mln share buyback plan

K-Swiss Inc, a maker of athletic shoes, said its board approved a new $70 million repurchase program for Class A shares, replacing its existing buyback plan that expires by year-end.
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Treasury says 650,000 in trial home loan workouts

About 20 percent of struggling U.S. homeowners eligible for loan workouts have entered into a trial modification, but it is unclear how many of them will be able to keep the lower payments permanently, the Treasury Department said on Tuesday.
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Senator proposes paid sick leave for swine flu

Americans infected by the H1N1 flu virus would be guaranteed paid sick leave under emergency legislation U.S. Senator Chris Dodd plans to unveil on Tuesday in response to the swine flu pandemic.
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No holding back for Alicia Keys on Freedom

An unseasonal gust of wind greets Alicia Keys as she steps out of a doorway behind a Beverly Hills hotel on a late October afternoon. Decked out in a black leather vest and black leggings brightly accented by turquoise suede knee-high boo a hint of matching eyeliner, the Grammy Award-winning singer is surprised by the chilly blast before she ducks into a waiting black sport utility vehicle. Commen...
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Shell to pay $19.5 mln for California violations

California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the state, Attorney General Jerry Brown said on Friday.
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Berkshire Hathaway's net income triples

Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
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Calpers knew in 2003 about forex trading hits: report

California Public Employees' Retirement System, knew it was paying uncompetitive rates on foreign-exchange trades as early as 2003, the Wall Street Journal said, citing a consultant who advised the largest U.S. public pension fund.
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Intel hit by NY antitrust suit, kickbacks alleged

Intel Corp was sued by New York Attorney General Andrew Cuomo, who accused the world's largest chipmaker of threatening computer makers and paying billions of dollars in kickbacks to maintain its market dominance.
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Central banks lead subtle shift away from dollar

Central banks with trillions of dollars in reserves that are already stepping up euro and yen purchases will likely continue doing so in coming years, driven by worries over the stability of the greenback.
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Rockers No Doubt sue Activision over Band Hero

Rock band No Doubt sued video game publisher Activision Blizzard Inc over the use of their likeness on its new Band Hero product, accusing the company of turning the rockers into a virtual karaoke act.
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Smith Micro Q3 rev lags market, cuts FY view; shrs fall

Smith Micro Software Inc posted a quarterly profit that beat analysts' estimates by a penny, but revenue missed, hurt by a tough economic environment, and the company cut its full-year revenue view, sending its shares down 20 percent.
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Stocks advance after Fed's statement

U.S. stocks briefly touched session highs on Wednesday after the Federal Reserve said it would keep borrowing costs near zero for an extended period even though it expressed confidence the U.S. economic recovery was gaining momentum.
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Proved Reserves of Crude Oil Fall in 2008, Reflecting Low End-of-Year Prices

The Energy Information Administration's (EIA) U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Proved Reserves, 2008 reports that proved reserves of crude oil fell by more than 10 percent in 2008, primarily because of low end-of-year prices used to estimate proved reserves, even though discoveries of crude oil rose for the third year in a row. In contrast, proved reserves of natural gas rose by 3 percent in 2008, despite low end-of-year prices.
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Stocks climb after Fed statement

Stocks resumed their climb back toward session highs on Wednesday after the Federal Reserve held its stance to keep borrowing costs near zero for an extended period even though it expressed confidence the U.S. economic recovery was gaining steam.

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