Friday morning headlines

Stocks slip: Where did the rally go? Slower growth in China is the apparent culprit. Dow is down about 100 points.

Gas update: L.A. area prices fell another penny from Thursday - an average gallon of regular is $4.258, according to the Auto Club, down a nickel from a week ago.

Why are gas prices falling?: A lot has to Iran's apparent willingness to hold talks on its nuclear program. From CNNMoney:

"All of the bad things we were really worried about don't look like they will happen," said Kevin Lindemer, an independent energy consultant that has worked for Irving Oil and Cambridge Energy Research Associates. "If we have an uneventful summer, there's nothing fundamental that should cause prices to go much higher." But having an uneventful summer is still a big if.

Local prices up sharply: Blame it on gas and groceries. L.A. area inflation was up 1 percent from February to March and 2 percent from March 2011. That's quite a bit higher than the nationwide Consumer Price Index. (OC Register)

Consumer sentiment dips: The Thomson Reuters/University of Michigan index for early April was 75.7 from 76.2 the previous month. From Reuters:

"Needless to say, the revival of confidence critically depends on the two economic events that consumers still expect to happen: that jobs will become more plentiful and that gasoline prices have ended their sharp run up," survey director Richard Curtin said in a statement. "Both are widely expected, and these expectations are anchored well enough to withstand temporary disappointments."

Good bank earnings: JPMorgan Chase reported better-than-expected first-quarter results. Among reasons cited: improving credit conditions among consumers and continued demand for new loans. (DealBook)

Time Warner Cable would consider Dodger stake: Such an investment would be aimed at securing a lucrative broadcast deal that's now held by Fox. Meanwhile, a bankruptcy court hearing is scheduled this morning on the the $2.15 billion sale. (DJ)

Coliseum officials squandered funds: The lack of basic financial controls is what city auditors found in a report. From the LAT:

The 70-page report says the commission, made up of three L.A. County supervisors and three appointees each from the city and state, freed [General Manager Patrick] Lynch to manage the taxpayer-owned stadium in a setting "void of essential formal policies, procedures and protocols." "The tone at the top was not suitable for a government entity," the report says.

Anaheim back on bullet train route: The state's High Speed Rail Authority eliminated OC as a cost-cutting measure, but the agency has reconsidered. (OC Register)

Port of L.A. has big month: March container traffic was up 8.1 percent compared with a year earlier. The boost was attributed to a surge in imports following Chinese New Year. (Daily Breeze)