Far West

San Jose Mayor Chuck Reed has delayed seeking the City Council's approval to declare a fiscal emergency and for a fall ballot measure for fiscal and pension reform.

California Controller John Chiang said lawmakers will lose pay until a balanced budget is passed because the budget approved by the Legislature last week and then vetoed by Gov. Jerry Brown was incomplete and unbalanced.

Standard & Poor's said Tuesday that California's ratings are at a "crossroad" because of the politics and potential impact of a budget impasse.

Housing groups and bond dealers are urging the Internal Revenue Service not to adopt a proposed change in the way the average area purchase price is determined associated with mortgages financed with the proceeds of single-family housing bonds.

As one dramatic chapter in Regions Financial Corp.'s history ends, another is about to begin.

The Metropolitan Washington Airports Authority announced Wednesday that it has tapped a new leader after a difficult selection process and during a time of controversy about the second phase of its Metrorail extension project.

SAN FRANCISCO - Although Los Angeles is living through hard times, it's far from insolvency, the city's top budget official says.

WASHINGTON - State and local governments should develop standards to bolster public pension disclosure or federal regulators may mandate improvements for them, a Securities and Exchange Commission official warned Tuesday.

The Financial Regulatory Industry Authority fined Wells Fargo Advisors LLC $13,000 and ordered it to pay restitution of almost $8,628 to a municipal customer for violating pricing and fair-dealing rules.

The Internal Revenue Service has completed a routine audit of $250 million of Build America Bonds issued by Denver School District No. 1, with no change to the subsidy payments the issuer receives from the federal government.