Chinese tourism & investment surge in Southern California

Southern California is enjoying a significant growth in Chinese tourism and investment, with the number of Chinese tourists arriving Los Angeles nearly quadrupling since 2009, a newly published report from the Los Angeles County Economic Development Corporation (LACEDC) revealed.

... read more

Bay Area City Council approves $13/hr minimum wage

The Bay Area City Council has unanimously agreed to phase in an increase in minimum wage to $13 per hour by the year of 2018 and link the minimum wage to inflation thereafter.

The new minimum wage increase schedule is expected to formally take effect later this month and begin at $9.60... read more

Lawmakers trying to lure Tesla to build electric-car battery plant in the state

California lawmakers are making a major effort to lure Tesla Motors to setup its electric-car battery factory in the state. The effort is being made by Senate President Pro Tem Darrell Steinberg (D-Sacramento) and Ted Gaines (R-Rocklin), who are sponsoring "urgency" legislation.

The... read more

BoA said to be negotiating $12bn settlement over home loans

Bank of America Corp (BoA) is reportedly pursuing negotiations with government authorities to settle ongoing probes over the lender's alleged handling of shoddy mortgages that led to the 2008 financial crisis.

Citing anonymous sources, the Wall Street Journal reported that Bank of America... read more

California and Seven other states to add 3.3 million zero-emission vehicles by 2025

Determined to cut carbon emissions, California on Thursday joined Oregon and six other states in announcing a set of joint steps planned to introduce more than 3 million environment-friendly vehicles by the year of 2025.

The eight states announced that they would add at least 3.3 million... read more

Lawmakers approve measure to raise minimum wage to $13/h by 2017

California lawmakers on Thursday passed a measure that would gradually increase the minimum wage in the state by $5 per hour by the year of 2017. Currently the minimum wage in the state is at $8 an hour.

Senator Mark Leno (D-San Francisco), the author of the bill, said it was necessary to... read more

BP asks Supreme Court to stay spill claims payouts

Oil giant BP Plc has filed an emergency appeal with the U. S. Supreme Court urging the apex court to order a subordinate court to reinstate the stay that it lifted, allowing claims administrator to start processing spill claims.

The emergency appeal was filed immediately after the New... read more

Treasury yields slip to new lows

Yields on 10-year U. S. Treasury notes suffered a notable fall to close at their lowest in as many as 11 months on Wednesday, partly due to weakness in German bond market and partly because of more buying from institutional investors.

Ten-year German Bund yields tumbled 1.337 per cent,... read more

The popular fast-food chain McDonald's has unveiled plans to return $18 billion to $20 billion to shareholders by 2016 through dividends or by buying-back shares.

The figure of $18-$20 billion that the company will return to shareholders during the period of 2014-2016 represents an... read more


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