Thursday morning headlines

Stocks edge lower: Llots of confusion on whether a European debt deal is getting close. Dow is down about 40 points.

Jobless claims down a bit: Weekly filings are running 403,000, still too high to see any significant job growth. (AP)

Leading indicators up a bit: The Conference Board's index of economic activity was up for the fifth consecutive month in September, but the increase was small. (AP)

More rioting in Greece: Tens of thousands of people in the streets. Meanwhile, there are new concerns about whether a bailout deal can be worked out in the next few days. (The Guardian)

California subpoenas B of A: State investigators want to know whether the bank and its Countrywide subsidiary sold mortgage-backed securities under false pretenses, the LAT is reporting, citing a source.

The subpoenas, which were served Tuesday, come as talks continue for a broad foreclosure settlement by a coalition of state attorneys general and federal agencies. California walked away from those discussions with major banks more than two weeks ago, saying what the banks were offering was not enough and the state would pursue its own investigations. California has left the door open to signing on to a bigger settlement, and the BofA subpoenas were seen as a move to exert further pressure on the bank.

Layoffs at Amgen: The biotech firm is eliminating 380 research and development jobs, 226 in Thousand Oaks. Company employs 6,200 people in the L.A. area. (LABJ)

Investors ignoring California bonds: Yields are just too low, and that's forcing the state to boost interest rates. From the LAT:

This week, individual investors put in orders for a modest 22% of the state's offering of $1.8 billion in tax-free bonds to finance infrastructure projects. By contrast, those buyers had snapped up 28% of the state's previous debt sale, in September. And in November they sought nearly 80% of the bonds California offered for sale. The state still was able to complete this week's sale because institutional investors, such as mutual funds, stepped up to buy what individuals left on the table.

NBA talks continue: Owners and locked-out players meet for the third straight day. No indication of whether they've made any progress. (LAT)

Local firms get preference: Mayor Villaraigosa signs law that would essentially reduce local bids by 8 percent in the awarding of city contracts. Change involves awards of over $150,000. (LAT)

Sewer bills going up: Look for increases of 4.5 percent in each of the next three years and 6.5 percent after that. Money will be used to fund upgrades to aging pipes. (Daily News)