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Stockton and San Bernardino, the two California cities that have filed for bankruptcy protection, are both considered test cases in the epic battle over whether municipal bondholders or pensioners will absorb most of the pain when a government goes broke.
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NEW YORK-- Shares of PICO Holdings Inc. rose Friday after a subsidiary announced plans for an initial public offering of common stock. The company _ which is a subsidiary of PICO _ did not disclose how many shares it planned to offer or what the expected price range would be.
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*Raised $1.2 bln from investors, but cash has dwindled to $30 mln. DETROIT, April 5- Fisker Automotive, the struggling, government-backed hybrid sports car maker, terminated most of its rank-and-file employees on Friday, in a last-ditch effort to conserve cash and stave off a potential bankruptcy filing, sources said.
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NEW YORK, April 5- A federal appeals court rejected UBS AG's bid to dismiss a U.S. regulator's lawsuit seeking to hold the Swiss bank responsible for losses on mortgage securities at Fannie Mae and Freddie Mac.
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April 5- A federal judge will not allow a lawsuit accusing Apple Inc, Google Inc and other technology companies of conspiring not to poach each other's employees to proceed as a class action, but left the door open for affected workers to eventually sue as a group.
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NEW YORK-- Shares of Rigel Therapeutics Inc. lost more than a third of their value Friday on mixed results from a late-stage clinical trial of a rheumatoid arthritis drug the company helped develop.
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LOS ANGELES-- The Al Jazeera America channel says that CNN chief business correspondent Ali Velshi is coming aboard. The channel, set to launch later this year, said Thursday that Velshi will develop and host a prime-time program that will debut as a half-hour weekly series. CNN is a unit of Time Warner Inc..
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*Rigel shares slump 33 pct, AstraZeneca little changed. LONDON, April 5- AstraZeneca's experimental rheumatoid arthritis pill fostamatinib met only one of two goals in a late-stage clinical trial, leaving the future of one of the group's few advanced pipeline products uncertain.
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April 5- A federal judge has, for now, refused to grant class certification in a lawsuit accusing Apple Inc, Google Inc and five other technology companies of illegally conspiring not to poach each other's employees. Other defendants in the case are Adobe Systems Inc, Intel Corp, Intuit Inc, Walt Disney Co's Pixar unit and Lucasfilm Ltd..
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But Fidelity Investments and Charles Schwab Corp are paying these financial advisers as much as 0.25 percent of the assets that their clients put in no-transaction-fee mutual funds.
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LOS ANGELES-- The pool of potential Los Angeles jurors to hear a wrongful death lawsuit filed by Michael Jackson's mother has grown to 43 after three days of questioning. Katherine Jackson is suing AEG, claiming it failed to properly investigate the doctor convicted of involuntary manslaughter for her son's June 2009 death.
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ATHERTON, Calif.-- Making a down payment on his vow to go all in for Democrats in 2014, President Barack Obama courted well-heeled donors in California on a two-day fundraising jaunt that required him to walk a fine line: Berate Republicans too much, and Obama could put fragile prospects for achieving his second-term goals in jeopardy.
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Blackstone Group will visit Dell's headquarters to begin an in-depth analysis of the company, sources said, a strong sign the buyout firm is proceeding with an offer that could upset founder Michael Dell's $24.4 billion buyout bid.
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April 4- The U.S. government on Thursday recommended the removal of four hydroelectric dams on the Klamath River in Oregon and California to aid native salmon runs and help resolve a decades-long struggle over allocation of scarce water resources.
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LOS ANGELES, April 4- Walt Disney Co expects to begin layoffs at its studio and consumer product divisions within the next two weeks, according to two people with knowledge of the matter, in the latest cost-reduction step to emerge from a company-wide review.
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SAN FRANCISCO, April 4- Google Inc has sold the Frommers' line of travel-guidebooks, acquired just eight months ago from John Wiley& Sons Inc to strengthen its trove of local content and reviews, to founder Arthur Frommer. Google had intended to use the popular brand to beef up its own local content, listings and reviews, executives said at the time.
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April 4- Rivals NYSE Euronext and Nasdaq OMX Group Inc both claim that to have listed the most global initial public offerings during the first quarter of 2013, while Thomson Reuters' data shows the two exchange operators as being tied.
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*Facebook takes battle for ad revenue, user times to Google. *Facebook's shares climb, Google's fall.
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The Bank of Japan jolted markets, unleashing the world's largest monetary stimulus, with a commitment to inject $1.4 trillion into the economy in less than two years. "It was pretty clear throughout the day that investors were pleasantly surprised by the magnitude of the BoJ actions," said Andrew Wilkinson, chief economic strategist at Miller Tabak& Co..
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SAN DIEGO-- WD-40 Co.' s fiscal second-quarter profit slipped 1 percent but still managed to exceed market expectations on sales gains overseas. WD-40 President and CEO Garry Ridge said that the company's focus is on growing its multi-purpose maintenance products business.
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SAN FRANCISCO, April 4- Hewlett-Packard Co Chairman Ray Lane, who has come under fire from shareholders for his role in the botched, costly acquisition of British software company Autonomy Plc, has stepped down, the company said on Thursday.