CNBC's Jane Wells discusses details behind the California court ruling against water pricing structure.» Read More
CHICAGO, Oct 23- Illinois has dug itself into such a huge financial hole that it may not be able to provide basic services to residents or meet employee benefit obligations, according to a national task force that is due to release a report about the state's finances.
FOSTER CITY, Calif.-- HIV drug maker Gilead Sciences Inc. said Tuesday that its third-quarter profit slipped on costs related to its purchase of hepatitis C drug developer Pharmasset Inc. But results still topped expectations and the company raised its sales forecast for the full year. The drug is the first approved by the FDA to reduce infection with HIV.
WASHINGTON, Oct 23- Samsung Electronics Co Ltd, which is battling Apple Inc across the globe for dominance of the smartphone market, dealt the California company a setback by winning a preliminary invalidation of a key Apple patent, according to a court filing.
LOS ANGELES-- Netflix slashed its prediction for how many U.S. video-streaming subscribers it would add this year after subpar third-quarter results, causing a sharp sell-off in its stock in after-hours trading.
TRENTON, N.J.-- Biotech drugmaker Amgen Inc. said Tuesday that its third-quarter profit more than doubled from a year ago, when a huge legal-reserve charge weighed down results. Amgen said its net income adjusted to exclude one-time items was $1.31 billion, or $1.67 per share, up from $1.28 billion, or $1.40 per share.
LOS GATOS, Calif.-- Netflix cut its prediction of how many video streaming subscribers it would add this year after its third-quarter additions of 1.2 million came in at the low end of the company's forecasts. Netflix's stock sank $10.72 in after-hours trading to $57.50.
David Strickland, head of the National Highway Traffic Safety Administration, told an automotive gathering that automated vehicles are the next "evolutionary step" in safety technology. He said his agency has held extensive discussions with automakers and Google about what needs to happen before automated cars can be safely introduced to consumers.
SAN FRANCISCO-- Industrial real estate developer Prologis Inc. posted a third-quarter loss, but said its core funds from operations improved from a year ago on a 9 percent increase in revenue. Prologis raised its forecast for full-year core FFO to between $1.72 and $1.74 per share, up from $1.64 to $1.70 per share.
SEATTLE-- Michael Henrichsen has ideas about how he might celebrate his 26th birthday this week. First, Billy Idol rolls up in a limo and tells him to hop in.
LIANGJIAHE, China-- The next leader of China spent much of his youth living in a dug-out cave. Xi Jingping's seven years in this remote northern community meant toiling alongside rural villagers by day and sleeping on bricks by night, in stark contrast to his pampered early years in Beijing.
LOS ANGELES-- Crews have repaired a pipe that leaked flammable hydrogen gas at Edison International's San Onofre nuclear power plant and officials say there was no danger to the public. Edison International's Southern California Edison unit says a small leak in a pipe fitting was discovered in a non-nuclear part of Unit 2 on Sunday.
NEW YORK-- Toy company Jakks-Pacific Inc. reported a 13 percent drop in third-quarter net income as it grappled with costs of fighting off a take-over attempt and weak sales. The company, which makes toys under such brands as Cabbage Patch Kids and Hello Kitty, said it earned $30.4 million, or $1.10 per share in the three months ended Sept. 30.
MADISON, Wis.-- September was a good month for dairy farmers in Wisconsin and Minnesota, where gains in milk production were among the best in the nation. The U.S. Department of Agriculture says Wisconsin harvested 2.2 billion pounds last month. Wisconsin is the nation's second-leading milk producer behind California.
SAN BRUNO, Calif.-- Survivors of a deadly PG&E Corp. pipeline explosion asked Gov. Jerry Brown to replace the president of the California Public Utilities Commission on Monday, saying energy regulators have failed to keep the public safe under CPUC President Michael Peevey's leadership.
Once all is said and done, consumers, the state and Amazon all could actually benefit – the rare win–win–win for all involved.
BEVERLY HILLS, Calif.-- Hollywood warmed up for its awards season with a love fest that recognized top actors and directors for films that haven't been released yet.
WICHITA, Kan.-- When Candida L. Gutierrez's identity was stolen, the thief didn't limit herself to opening fraudulent credit and bank accounts. The scheme has been linked to illegal immigrants who use stolen Social Security numbers to get paid at their jobs, and authorities fear the problem could soon grow to ensnare more unsuspecting Americans.
NEW YORK-- New York City Mayor Michael Bloomberg is poised to spend $500,000 of his personal fortune on gay marriage campaigns in Maine, Minnesota and Washington state, he said Monday, following up on a major political spending push the billionaire businessman-turned-politician announced last week.
A unionized job once meant a secure path to a middle-class life. President Barack Obama has signed a series of executive orders that encourage the use of union labor in federal construction projects, ease union financial reporting requirements and more.
Nearly half of all robberies in San Francisco this year are cell phone-related, police say, and most occur on bustling transit lines. And, in nearby Oakland, City Council candidate Dan Kalb was robbed at gunpoint of his iPhone Wednesday after he attended a neighborhood anti-crime meeting.