CALIFORNIA

Obama plans big smart grid announcement

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President Barack Obama will announce the largest investment of economic stimulus funds in clean energy during a visit to Florida, an Obama administration official said on Monday.
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Calpine reduces Calif Otay Mesa natgas unit

Calpine Corp reduced the 600-megawatt Otay Mesa natural gas fired power plant in California for planned and unplanned reasons by Sunday afternoon, the California ISO said in a report.
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Sony looks for box office hit with This Is It

Heading toward its October 28 release, Michael Jackson movie This Is It looks like a box office winner for Sony's Columbia Pictures movie studio with one estimate saying it could make more than $600 million worldwide in a limited two-week run.
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EXCLUSIVE: Former Calpers CIO says did right thing

Russell Read does not regret pushing Calpers, the biggest U.S. public pension fund, into investment frontiers that consultants avoid -- and he sees the public pension funds at a crossroads on what to do next.
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Polanski could face two years prison if extradited

Film director Roman Polanski could face two years in prison if extradited to the United States after fleeing sentencing in California on child sex charges in 1978, the Swiss justice ministry said on Friday.
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U.S. asks Swiss to extradite fugitive Polanski

The United States has formally asked Switzerland to extradite film director Roman Polanski, who fled sentencing in California on child sex charges in 1978, the Swiss justice ministry said on Friday.
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Michael Jackson fans say film covers up grim truth

A small group of Michael Jackson's dedicated fans have started an awareness campaign surrounding the upcoming movie This is It, saying it covers up the grim reality of the dead pop star's final days.
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Long lines as Microsoft opens retail store

The idea that hundreds of people would line up outside anything to do with Microsoft would have been far-fetched only a few years ago -- but on Thursday that's what happened when the software giant opened its first retail store in Scottsdale, Arizona.
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Tests show flu spreads from schools

Results of tens of thousands of flu tests indicate that the pandemic H1N1 virus is spreading from school-aged children to the rest of the U.S. population, makers of the tests say.
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Fewer Short Sales Come Up Short

While obstacles to short sales remain, real estate practitioners say the process is becoming more efficient. Rather than waiting six months or more to push through a deal, agents say banks are more willing to negotiate prices up front.
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Italy probes Kill Berlusconi Facebook pages

Italian officials have ordered an investigation into Facebook groups called Let's Kill Berlusconi, saying they incite hatred and might lead to a real rather than virtual attack on the prime minister.
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EBay holiday outlook disappoints, shares drop

EBay Inc on Wednesday forecast fourth-quarter profit and revenue at the low end of analysts' estimates, disappointing investors' hopes of a substantial turnaround at its main marketplaces division during the crucial holiday season.
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Suntech focuses on utility market with new system

Chinese solar panel maker Suntech Power Holdings Co Ltd (STP.N) said on Wednesday it will begin shipping a new solar system for large-sized projects next year, betting that the U.S. solar utility market will heat up.
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Madoff shared prison cell with drug dealer

Epic swindler Bernard Madoff shared a prison cell with a 21-year-old drug dealer, and other fellow inmates included a spy and a mob boss when he was sent to prison in July, according to court documents.
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Mortgage applications drop again as rates climb

U.S. mortgage applications fell for a second straight week, led by a plunge in demand for home refinancing loans as interest rates climbed, data from an industry group showed on Wednesday.
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Fed's Yellen: No tightening in next several months

The time for the U.S. Federal Reserve to start pulling back its extensive support for the economy is not close at hand and policymakers have time to decide what sequence of steps they will take, San Francisco Fed President Janet Yellen said on Tuesday.
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Madoff investors sue KPMG and major banks

Some investors defrauded by epic swindler Bernard Madoff on Tuesday added accounting firm KPMG , JPMorgan Chase and Bank of New York Mellon to a civil lawsuit in a New York court, lawyer Joseph Cotchett said.
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California sues State Street over pension funds

California's attorney general sued State Street Corp on Tuesday for committing an unconscionable fraud against the state's largest pension funds and is seeking to recover more than $200 million in alleged illegal overcharges and penalties.

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