California

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

SAN FRANCISCO - California Gov. Jerry Brown's quick veto of the budget adopted by the Legislature last week has renewed concerns about the state’s cash flow amid another long ­delay.

SAN FRANCISCO — Former Los Angeles Mayor Richard Riordan is still ringing the warning bell about municipal finances.

The Sacramento City Council voted Tuesday to make major cuts to police and fire services in the budget.

State Controller John Chiang said California's total revenues in May came in 5.9%, or $408 million, above estimates in the governor’s May revise budget.

California's economic recovery is still weak, according to economists.

California Gov. Jerry Brown wasted little time in vetoing Thursday the budget sent to him less than 24 hours earlier by the Legislature.

SAN FRANCISCO - California lawmakers are up against a zero-hour constitutional deadline Wednesday to pass a balanced budget or they will begin to lose pay.

Billionaire Eli Broad's new contemporary art museum in Los Angeles will sell $150 million of bonds this week to help get it off the ground.

WALNUT CREEK, Calif. — California's largest conduit bond issuer and its private contractor are on the defensive after recent attacks on its roles both in and out of the state.

Sierra Kings Health Care District voters Tuesday overwhelmingly approved a proposed sale of the bankrupt hospital to Adventist Health.

Hercules voters recalled Tuesday the mayor and another council member in response to a political and budget mess.

Moody’s Investors Service has downgraded the San Joaquin Hills Transportation Corridor Agency’s rating to B1 from Ba2 after the agency completed a restructuring of its debt.

California Controller John Chiang has said he will withhold lawmakers’ salaries if they fail to pass a balanced budget by June 15.

Lawmakers in the California Senate have approved a bill that will allow counties to raise and collect vehicle license fees.

SAN FRANCISCO — Moody’s Investors Service downgraded the long-term underlying rating on the California Housing Finance Agency’s home mortgage revenue bonds to Baa1 from A3, affecting $5.7 billion of outstanding debt.

SAN FRANCISCO — Citi said in a report released Monday that long-dated capital appreciation bonds issued by California school districts offer an opportunity for investors despite concerns about education funding. The zero-coupon bonds are cheap when compared to current coupon securities, the firm said.

SAN FRANCISCO — Stockton may not exactly be the next Vallejo, but similarities between the two California cities have started people talking.

Standard & Poor’s this week said California may have trouble accessing the municipal market for its revenue anticipation notes without a balanced budget.

Dale Bonner, the former California secretary of business, transportation, and housing, has started a new firm to focus on public-private partnerships.