Moody's is warning that California faces a "multi-notch downgrade" if it doesn't get its financial act in order. In other words, agree on a budget.

Health officials linked the dough to infections from E. coli in as many as 66 people in 28 states. Glendale-based Nestlé USA is telling consumers to return the dough products.

Lots of folks aren't event included in the unemployment numbers - many of them poor and little-educated. They're the ones who are most vulnerable.

May unemployment increased to 11.6 percent in Los Angeles, a shade higher than the state's 11.5 percent level. The jobless rate is up from 10.9 percent in April.

Jump in state unemployment, gas tops $3 a gallon, Broad takes NY co-op off the market, and new lines for iPhones.

California isn't all that different from the other states struggling to cope with a huge revenue loss from personal income taxes. Nearly every state took a big hit.

Gulliver's Restaurant in Irvine held a "Scarf, but don't Barf" prime rib eating contest last night, and after 30 minutes the winner managed to keep down six pounds.

The "If you've got it, flaunt it" lifestyle of Persians living in Bev Hills may seem like an old story, but a new generation of Iranian-Americans isn't so easy to categorize.

Governor opposes Democratic proposal, Obama financial plan gets mixed reviews, feds blamed in collapse of Downey, and new questions for OC financier Danny Pang.

A state judge laid out the false claims made against Dole by plaintiffs' attorneys as part of a case involving the company's treatment of banana plantation workers.

With all respect to the Lakers, that's the unvarnished message behind a new book in which the notion of working with people is challenged.

Most vulnerable are the merchants who had been struggling well in advance of the tougher times - as well as those that were heavily in debt.

As part of the bankruptcy filing, the company will be acquired by private-equity firm CCMP Capital Advisors, though other parties might try to make higher bids.

Home prices could be heading upward - and more of the action is starting to come from the $500,000-plus range, which has been practically dead for the past year or so.

Socal inflation hits 59-year low, still more acrimony in Sacramento, Lockyer dismisses talk of state defaulting, and Lakers fans snap up championship junk.

Looking at April numbers, the inventory levels for $1 million-plus properties shot up from a year earlier, but the $750,000-$1 million bracket showed a slight decline.

Dow falls 107 points. Maybe the hopes for an economic rebound were a bit misplaced.

The cuts had been expected, what with new management in place and the recent decision not to move into a large office complex at Playa Vista.

Why have the celebration along a not-so-wonderful stretch of Figueroa between Staples Center and the Coliseum?

Tonight's "Frontline" examines the circumstances behind the Bank of America-Merrill Lynch merger and why it went so bad.

Another jump in gas prices, White House wavers on helping CA, Hanmi bank gets help, and GM finds buyer for Saab.

The big concern continues to be a reluctance on the part of American consumers to spend at anywhere near the levels they were spending a few years ago.

The basic problems remain the same: limited consumer spending in the U.S. and a severe global downturn that is impacting all traffic.

Actually, that's an improvement from earlier in the day. High anxiety returns to Wall Street....

Cut-rate offers are being made for top-grade talent - among them Scarlett Johansson, Julia Roberts and Mickey Rourke.

Stocks sharply lower, downtown hotels take big hit, state won't meet deadline for budget plan, and Maguire sells building on the cheap.