CALIFORNIA

U.S. Fourth-Quarter GDP Growth of 2.8% Fueled by Inventory Bounce: Analyst

Cargo containers are seen at the Port of Long Beach, California June 19, 2008.
Growth in the U.S. gross domestic product during the fourth quarter of last year was estimated at 2.8 percent -- slightly below the consensus expectation of 3.0 percent, but still the best reading in 2011. However, most of the growth came from inventory rebuilding, which can support GDP growth only temporarily.

Subpoenas Issued to Financial Firms in Expanded Probe

A vacant home for sale is pictured in Yonkers
The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.
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Kepler Telescope Team Finds 11 New Solar Systems

NASA's planet-hunting Kepler space telescope has found 11 new planetary systems, including one with five planets all orbiting closer to their parent star than Mercury circles the Sun, scientists said on Thursday.
Convicted Criminals Use Facebook to Taunt Victims' Families

Facebook Takes on 'Clickjacking' Spammers in Court

Facebook and the state of Washington sued a company on Thursday they accused of a practice called clickjacking that fools users of the world's top social network into visiting advertising sites, divulging personal information and spreading the scam to friends.
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House Members Press Google on Privacy Policy Changes

A leading U.S. lawmaker on online privacy issues said Thursday he would ask for a probe into whether recently announced changes in how Google handles consumer data violated an agreement with the Federal Trade Commission.
Possible Apple TV prototype design

Apple TV Plus Siri Could Be on Sale by May

Apple could ship a 42-inch TV set featuring organic light-emitting diode (OLED) displays as well as controls activated by the Siri “voice assistant” in the iPhone 4S, a report said.It could Apple TV or iTV.
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Morgellons Disease Exists only in Patients' Minds, Study

An unexplained and sometimes debilitating disease that causes oozing sores and fibers to grow from patients' skin doesn't come from a mysterious bug or virus, federal researchers reported Wednesday. The disease is all in the mind.
Tim Cook

Apple CEO Tim Cook Faces a $98 Billion Problem

Apple CEO Tim Cook has a problem, a $98 billion problem. Just 18 months ago, Apple's $46 billion mountain of cash, while huge by most standards, attracted only muted complaints from investors, who did call for a dividend or share buyback, but were mostly happy with the meteoric rise in the stock price.
Apple's retail store at Upper West Side, New York City

What Apple Plans to Do with $98 Billion Cash Hoard?

Apple Inc. has a high-quality balance sheet with net cash of $97.6 billion or $103.6 per share at the end of fiscal first quarter. Investors look puzzled regarding what Apple intends to do with its cash hoard.

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