11/20/2019

News

US New Home Sales Slid 12.8% In July

Sales of new U.S. homes fell a steep 12.8% in July, but the drop came after revisions to June sales showed the sales highest growth in 12 years. The Commerce Department said Friday that new homes sold at a seasonally adjusted annual rate of 635,000 units. That’s down from a sharply revised upward rate of […]

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California city approves 25-cent fee on disposable cups

Patrons of restaurants and coffee shops in Berkeley, California, who don’t bring a reusable cup for their beverage will have to pay a 25-cent fee for a disposable cup as part of an ordinance approved by city officials to reduce restaurant waste. Berkeley’s City Council voted unanimously Tuesday to approve the fee on single-use cups […]

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LA teachers union, school district team to seek state money

Los Angeles teachers returned to work Wednesday after contentious negotiations ended with a new contract and a commitment by the union and the district to work together to get more state money for schools in part by pushing to overhaul California’s property tax system. Teachers greeted students with smiles, hugs and high-fives after voting the […]

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Off the Charts: Holiday heartbreak for retailers

The holiday season was a brutal one for U.S. retailers, especially department stores and companies that sell luxury products, and companies and investors alike didn’t see it coming. The U.S. economy has been growing at a steady pace, and unemployment is low and consumer confidence is high. That seemed to set the stage for strong […]

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Strike or no strike, pensions problematic for LA schools

Strike or no strike, after a deal is ultimately reached on a contract for Los Angeles teachers, the school district will still be on a collision course with deficit spending because of pensions and other financial obligations. School systems across California are experiencing burdensome payments to the state pension fund while struggling to improve schools. […]

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California pot taxes lag as illegal market flourishes

Deep in Gov. Gavin Newsom’s new budget is a figure that says a lot about California’s shaky legal marijuana market: The state is expecting a lot less cash from cannabis taxes. The Democrat’s proposed spending plan, released Thursday, projects the state will bank $355 million in marijuana excise taxes by the end of June. That’s […]

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Far from fame, poverty blossoms in ‘forgotten California’

California may be famous for its wealth, but there is a distinctly different part of the state where poverty prevails: places like this one halfway between Los Angeles and San Francisco. The Central Valley has long been short on resources no matter which political party is in power. Democratic and Republican candidates for Congress have […]

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US states agree on plan to manage overtaxed Colorado River

Seven Southwestern U.S. states that depend on the overtaxed Colorado River have reached landmark agreements on how to manage the waterway amid an unprecedented drought, including a commitment by California to bear part of the burden before it is legally required to do so, officials said Tuesday. The agreements are tentative and must be approved […]

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US consumer confidence rises to 18-year high

Americans’ consumer confidence rose in August to the highest level in nearly 18 years as their assessment of current conditions improved further and their expectations about the future rebounded. The Conference Board reported Tuesday that its consumer confidence index rose to 133.4 in August, up from a reading 127.9 in July. It was the highest […]

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