CALIFORNIA

California still in bad shape after budget: Moody's

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California's new budget deal may brake the recent decline in the state's rating but the one-time nature of many of the measures taken to close a $24 billion deficit leave the state in bad shape, Moody's Investors Service said on Thursday.
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PennyMac, run by ex-Countrywide execs, prices IPO

PennyMac Mortgage Investment Trust, which buys distressed home loans and is run by several former Countrywide Financial Corp executives, on Wednesday raised $320 million from an initial public offering, $80 million less than planned.
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Summer camp flu outbreaks presage fall surge: CDC

Outbreaks of the H1N1 flu among children attending U.S. summer camps presage a surge in cases this fall as students return to school, an official at the U.S. Centers for Disease Control and Prevention warned on Wednesday.
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Green states to get few rewards in U.S. climate bill

The U.S. climate bill would give states that are heavily reliant on greenhouse-gas emitting fuels, like coal, more carbon credits on a per capita basis than those that use clean fuels, according to an analysis of the legislation released on Wednesday.
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Unemployment spreads distress in U.S. home loans

Cities in the U.S. Sun Belt states of California, Florida, Nevada and Arizona dominated the record foreclosure spree in the first half of the year, but distress in other regions emerged as joblessness spread, RealtyTrac said on Thursday.
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PIMCO's Gross blasts own industry for high fees

Bill Gross, the influential manager who runs top bond fund PIMCO, on Wednesday lambasted his industry for charging investors hefty fees for subpar performance amidst the worst economic crisis since the Great Depression.
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Subprime mortgage companies warn on U.S. foreclosures

Companies that service risky residential mortgages are warning U.S. officials that a key program to slow foreclosures may push some financing costs higher and derail their efforts, said a leading subprime firm.
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Police search Las Vegas home of Michael Jackson's doctor

Las Vegas police searched the home of Dr. Conrad Murray, Michael Jackson's personal doctor, on Tuesday as the probe into the star's sudden death increasingly appeared to focus on whether the physician gave him drugs before he died.
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Tiny ovarian tumors lurk for years, study finds

Tiny ovarian tumors lurk in the Fallopian tubes for an average of four years before they grow large enough to be detected, researchers reported on Monday in a study that explains why diagnosis usually comes too late to save a woman's life.
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Sarah Palin's future plans after resignation

Alaska Gov. Sarah Palin has stepped down and handed over the governor's office to Lt. Gov. Sean Parnell on Sunday afternoon at a picnic in Fairbanks Park. About her future plans, there are a few things are known as followings:
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Real Estate Is Not a Hobby

Though business is more competitive than ever, she finds nothing more gratifying than building and maintaining relationships with colleagues and clients in her seaside community north of San Diego.
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Hubble restarted, captures images of Jupiter 'scar'

NASA has interrupted its setup of the newly refurbished Hubble Space Telescope to capture the sharpest visible light images yet of a 'scar' discovered last week on the planet caused by the impact of a comet or an asteroid.

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