CALIFORNIA

Pessimism too high, time to buy: Mobius

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Veteran fund manager Mark Mobius sees a potential 20 percent rise in emerging market stocks in 2009 and views extreme investor pessimism as a signal to gradually start buying equities.
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EBay touts transformation, will expand PayPal

EBay Inc, struggling to compete in a crowded and slowing e-commerce market, is remaking the company, starting by accelerating growth at its nascent PayPal payments system, its chief executive said on Wednesday.
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Has recession trimmed CO2 output? We'll know by 2010

The financial crisis has slashed industrial output and trade but it will be months before there is an accurate picture of how much the downturn has curbed greenhouse gas emissions, two leading scientists said on Friday.
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Google letting cash pile up: CEO

Google Inc plans to let its cash pile up as it weathers the economic recession, the Web search leader's Chief Executive Eric Schmidt said on Wednesday.
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Wall St. drops on financials, GM woes

Stocks extended their slide to 12-year lows on Thursday as General Motors' warning of possible bankruptcy and concerns about the fate of the banking system sped investors' flight from riskier assets.
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One in 8 U.S. homeowners late paying or in foreclosure

About one in eight U.S. homeowners with mortgages, a record share, ended 2008 behind on their loan payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.
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U.S. productivity plummets, factory orders fall

U.S. business productivity fell in the fourth quarter as output plunged at its fastest pace since 1982, while one in eight U.S. households ended 2008 behind on its mortgage or in foreclosure, according to data on Thursday that underscored the economy's weakness.
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Electric vehicles to dominate Ford's future lineup: CEO

Ford Motor Co expects electric vehicles will represent a major portion of its lineup a decade from now as the automaker breaks away from a recent reliance on pickup trucks and SUVs, Chief Executive Alan Mulally said on Wednesday.
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Google CEO: We letting cash 'pile up'

Google Inc plans to let its cash pile up as it weathers an economic recession but doesn't expect to see a fall in revenue, the Web search leader's Chief Executive Eric Schmidt said on Wednesday.
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Google CEO doesn't foresee decline in revenue

Google Inc CEO Eric Schmidt said the economic storm will affect all forms of advertising, including the online ads that Google depends on, but said that he doesn't expect Google to experience a decline in revenue.
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Wall St. gains on China bets and commodities

Stocks rose on Wednesday as investors jumped back into the market following a five-day sell-off that drove Wall Street to 12-year lows, while soaring prices of oil and other commodities lifted energy and natural resource shares.
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One in five U.S. mortgage borrowers are underwater

One in five U.S. homeowners with mortgages owe more to their lenders than their homes are worth, and the rate will increase as housing prices drop in states that have so far avoided the worst of the crisis, a new study shows.
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YouTube unveils first symphony orchestra

California surgeon Calvin Lee has barely picked up his violin for 15 years but on Monday he was named a member of the first YouTube Symphony Orchestra and next month he plays at Carnegie Hall with the group.
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Offering help, hope, U.S. job clubs see surge

Tom Skidmore has been out of work only since December. But when his former employer filed bankruptcy in January and his severance evaporated, Skidmore knew he didn't have much time. As the sole breadwinner for his family of five, he had to find work fast.
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AIG has $61.7 billion loss, new U.S. aid may not be last

American International Group Inc posted a record $61.7 billion quarterly loss on Monday and got a new but not necessarily final government bailout, after officials concluded again that letting the insurer fail would threaten the world financial system.
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iPhones and PCs take fitness to heart

For some of us, the iPhone will always be a slightly scary emblem of the brave new world: an impossibly sleek device that allows you to make a call, hear a song, learn a language and find your way home.

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