California

Gov. Jerry Brown has signed a budget that closes an estimated $15.7 billion budget deficit for the fiscal year that starts Sunday.

A California ballot initiative that would have increased taxes on cigarettes by $1 a pack appears to be finally dead after a tight vote

California's general fund revenues for May came in $176 million below estimates in Gov. Jerry Brown's May budget proposal

Standard & Poor's lowered its rating on Stockton, Calif., to D from "selective default" after the city said it would file for Chapter 9 bankruptcy.

Moody's Investors Service downgraded various debt supported by Stockton, Calif.'s general fund to Caa3 after the city announced it would skip payments as it enters bankruptcy.

The municipal market will carefully watch the bankruptcy of Stockton, Calif., set to become the third largest debt issuer to file for Chapter 9 protection.

The Stockton, Calif. City Council voted Tuesday night to file for bankruptcy as part of a plan to try to keep the city solvent after city officials said negotiations with creditors failed.

The battle between San Jose and Santa Clara County over tax revenue from the city's former redevelopment agency has gotten ugly.

Stockton's City Council will consider whether it will become the largest city ever to file for bankruptcy protection Tuesday night after negotiations with creditors ended on Monday.

California Treasurer Bill Lockyer has tentatively set a $10 billion revenue anticipation note sale for August as part of the state's annual cash flow balancing act.

The Orange County Employees Retirement System has hired Girard Miller as its new chief investment officer.

The American Public Power Association and a California Public Agency have commented on proposed IRS governmental plan regulations, suggesting changes to provide certainty to existing participants in governmental plans.

California general obligation bond yield spreads have narrowed significantly over the past two years despite only small improvements in the state's financial health.

California Gov. Jerry Brown and Democratic legislative leaders reached an agreement Thursday to finalize a budget to close the state's nearly $16 billion deficit.

California retirement system officials have further cut the benefits of two former top Bell employees now facing corruption charges.

Moody's Investors Service has downgraded the Washington Township Health Care District's long-term revenue bonds to Baa1 from A3, affecting $232 million of debt.

California will not see single-digit unemployment until 2013, according to a report by UCLA's Anderson Forecast.

Unions opposed to San Diego's recent overwhelming vote to reform its pension system won two legal victories this week.

Stockton, Calif. has proposed a plan to slash more than $10 million of debt payments to balance its budget while at the same time declaring bankruptcy, if negotiations with creditors fail by Monday's deadline.

SAN FRANCISCO — Moody's Investors Service's recent downgrade to junk of California redevelopment bonds has triggered complaints from state officials, but little evident stir in the market.