Following recent news exemplifying a lack of or failed internal controls within agencies throughout the county, a civil grand jury report reco…
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Just minutes after Gov. Gavin Newsom unveiled a revised state budget with billions of dollars in spending reductions on Friday, advocates for …
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Gov. Gavin Newsom says the state's budget deficit is $27.6 billion. The figure Newsom announced Friday is smaller than the deficit he anticipated in January. That's because it doesn't take into account $17.3 billion worth of budget actions he and lawmakers have agreed to take to close the gap. He's now proposing to help balance the budget by eliminating 10,000 vacant state jobs and suspending some business tax deductions. The Democratic governor says some of those cuts will also help balance next year's budget, as state revenues are projected to keep falling. The state Legislature must pass a spending plan by June 15.
California regulators have voted to change how some power companies calculate their customers' bills. The state's public utilities commission on Thursday approved a proposal that would add a new monthly charge to most people's electric bills. For many, it will be a charge of $24.15. For those with lower incomes, it will be $6 or $12 per month. In exchange for the charge, the price of electricity per kilowatt-hour will drop. That means customers who use a lot of energy will likely see savings, while those who use less electricity could see their bill increase. Most states already allow fixed-rate charges.
Navigating the financial landscape can be daunting for an emerging entrepreneur. However, establishing a solid financial foundation is crucial…
California once was a national leader in making government more transparent, requiring state and local agencies to conduct their business in p…
A Menlo Park woman has been charged with 47 felonies for allegedly embezzling $28,488 in welfare funds while working at the San Mateo County H…
Tesla's first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker's revenue and profit margins. The Austin, Texas, company said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Revenue was $21.3 billion, down 9% from last year as worldwide sales dropped nearly 9% due to increased competition and slowing demand for electric vehicles. Excluding one-time items, Tesla made 45 cents per share, falling short of analyst estimates of 49 cents. Tesla said in a letter to investors Tuesday that its vehicle sales growth "may be notably lower" than last year as it works on the launch of its next generation vehicle and unidentified other products.
Group of Seven foreign ministers are meeting on the resort island of Capri amid calls for new sanctions against Iran. Soaring tensions in the Middle East and Russia's continuing war in Ukraine are topping the agenda of the three-day meeting that started late on Wednesday. The G7 leaders are expected to issue a united call for Israel to exercise restraint after Iran's unprecedented weekend attack. Italian Foreign Minister Antonio Tajani said he had spoken to his Israeli counterpart, Israel Katz, on Tuesday and urged Israel to not only de-escalate any reaction to Iran's attack but to stave off a planned offensive into the southern Gaza city of Rafah.
Big banks warned of an uncertain year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere. JPMorgan reported a modest 6% rise in profits Friday while profits at Wells Fargo and Citigroup declined, though both topped Wall Street expectations. Dimon used language Friday that was similar to what he told investors in his annual shareholder letter earlier this week, when he warned that geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as U.S. political polarization, could be creating an environment that "may very well be creating risks that could eclipse anything since World War II."
