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  • 02/19/2018 17:22:15

    Report: California pot growers lagging in getting licenses

    Nearly two months after recreational marijuana became legal in California, less than 1 percent of the state's known growers have been licensed, according to a report released Monday by a pot industry group.

  • 02/13/2018 12:01:17

    WATCH: Ulta hit with 2nd lawsuit claiming company resells returned products as new

    A complaint filed last week comes less than a month after the first lawsuit filed by a California woman alleging Ulta has a practice of reselling returned products to customers who believe they are purchasing new and unused cosmetics.

  • 02/12/2018 17:02:29

    CalPERS loses 4.6 pct in recent market maelstrom

    California Public Employees' Retirement System, the largest U.S. public pension fund, lost 4.6 percent in value during the stock market's recent tumble, and investment risks are expected to persist, officials said on Monday.

  • 02/12/2018 11:29:30

    Ulta shares sink after class action lawsuit alleges the company sold used cosmetics

    Ulta Beauty Inc. shares are down 4.3% in Monday trading after a lawsuit filed in Chicago federal court alleges the chain sold used cosmetics. A Chicago Tribune report says a California woman is seeking class-action status for the suit, which accuses Ulta of repackaging returned cosmetics and selling them alongside never-opened merchandise. Former employees have tweeted alleging the practice. "The suit is not based on evidence of a health outbreak or product efficacy, which may ultimately make it easier to defend," wrote Jefferies analysts in a note. "But in the court of public opinion, any sort of social driven campaign that challenges consumer perception of safety is a risk." Analysts expect that Ulta will likely enact more strict vendor requirements for packaging and take other measures to address the issue. Jefferies rates Ulta shares buy with a $300 price target. A statement from an Ulta spokesperson said: "Our policy does not allow the resale of used products. We are aware of the lawsuit and intend to vigorously defend against the allegations. The health and safety of Ulta Beauty guests is a top priority and we strive to consistently deliver an optimal experience every time they shop with us." Ulta shares are down 22.5% for the last year while the S&P 500 index is up nearly 15% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/09/2018 19:22:59

    Trump won't release Schiff response to Nunes memo, for now

    President Trump has defied expectations in deciding not to release the Democratic response to the Devin Nunes memo alleging abuses of surveillance powers against Trump campaign foreign-policy adviser Carter Page. Democrats called the Nunes memo biased and misleading and said it comprised cherry-picked information from the documentation of one part of the investigation into Russia's role in the 2016 U.S. presidential election. Trump had widely been expected to OK the memo's release by Saturday at the latest. A letter from White House counsel Don McGahn indicated the memo, most closely associated with Rep. Adam Schiff, could yet be declassified and released after certain passages are addressed. The Nunes memo was released without redactions. Democratic Rep. Eric Swalwell, appearing late Friday on CNN, said he would withhold judgment as to whether the White House decision was politically motivated until he and other members of the House Judiciary Committee heard from "the professionals" at the FBI and Justice Department. A letter signed by Deputy Atty. Gen. Rod Rosenstein and FBI Director Christopher Wray accompanied the McGahn letter and supported the view that national-security and other concerns existed, CNN reported. Swalwell has in the past indicated a belief that the White House collaborated with Nunes, a House Republican from California who had previously recused himself from involvement with the Russia probe because of perceptions of conflict, on the majority memo.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/09/2018 04:17:46

    BRIEF-SJW Group Says CPUC Issued Proposed Decision On San Jose Water Co's Cost Of Capital For 2018-2020

    SJW Group(SJW): * SJW GROUP SAYS ON FEB 6 CALIFORNIA PUBLIC UTILITIES COMMISSION ISSUED A PROPOSED DECISION REGARDING SAN JOSE WATER CO'S COST OF CAPITAL FOR 2018-2020. * SJW - PROPOSED DECISION REDUCES SAN JOSE WATER COMPANY'S RETURN ON EQUITY FROM 9.43% TO 8.30% & OVERALL RETURN ON RATE BASE FROM 8.09% TO 7.19% Source text : Further company coverage:

  • 02/08/2018 14:39:37

    AIG shares gain after company swings to adjusted quarterly profit

    AIG Inc. shares rose 0.3% late Thursday after the insurer swung to an adjusted profit in the fourth quarter. AIG said it lost $6.7 billion, or $7.33 a share, in the quarter, compared with $3 billion, or $2.96 a share, in the year-ago period. That included a charge of $6.7 billion related to the U.S. tax overhaul. Adjusted for the charge and other items, the company earned $526 million, or 57 cents a share, versus a loss of $2.8 billion, or $2.72 a share in the year-ago period. The insurer said 2017 catastrophe losses were a "record" of $4.2 billion, a year that included domestic catastrophe-related losses related to the California wildfires, AIG said. Analysts polled by FactSet had expected adjusted earnings of 75 cents a share for the quarter. Shares ended the regular session down 3.6%. eneral Insurance Results -- Fourth quarter adjusted pre-tax income of $13 million included $762 million of catastrophe losses, of which $572 million related to the wildfires in California. North America adjusted pre-tax income of $412 million was offset by an International adjusted pre-tax loss of $399 million. The fourth quarter reflected modest net prior year adverse loss reserve development of 1.4 points, driven by International Commercial lines. The fourth quarter and full year of 2017 loss ratios were 78.3 and 83.2, respectively. The accident year loss ratio, as adjusted was 65.2, a 2.3 point improvement compared to the prior year quarter. For the full year, the accident year loss ratio, as adjusted was 63.0, a 1.1 point increase from a year ago. "The fourth quarter was another important step forward in positioning AIG for the future. Since I joined the company in May, we've added to our talent base, assessed and initiated underwriting actions, and established a new operating structure. 2017 represents a starting point from which we expect to build and 2018 will be a year of execution. Our actions to diversify our business and pursue profitable growth were further reflected in our January announcement of the acquisition of Validus," said Brian Duperreault, President and Chief Executive Officer. "Our fourth quarter and full year 2017 results were significantly impacted by catastrophe losses. Despite full year record catastrophe losses of $4.2 billion, we delivered approximately $1.5 billion in pre-tax income and over $3.0 billion in adjusted pre-tax income. Importantly, our fourth quarter reserve review resulted in modest net adverse development and our General Insurance North America Commercial business showed notable improvement and reserve stability. Personal Insurance and Life and Retirement operations continued to deliver solid performance and benefit from their diversified offerings." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/08/2018 12:34:00

    Trump chooses new IRS chief: Here's what you need to know about Charles Rettig

    President Donald Trump will nominate Charles Rettig, a California tax attorney, to lead the Internal Revenue Service (IRS) as it implements the Republican tax cuts.

  • 02/08/2018 07:04:33

    Trump offshore oil drilling plan draws protest in California

    Environmental activists in California on Thursday plan to protest a Trump Administration proposal to vastly increase offshore oil drilling in the United States.

  • 02/08/2018 00:35:47

    California officials, protesters fight offshore drill plans

    California commissions that oversee coastal lands and water pushed the Trump administration to leave the state out of plans to expand offshore drilling, warning the state would block pipelines to get oil back to land.

  • 02/07/2018 23:44:46

    PRESS DIGEST- New York Times business news - Feb 8

    The following are the top stories on the New York Times business pages. - Tronc Inc (TRNC) said on Wednesday it agreed to sell the Los Angeles Times, the San Diego Union-Tribune and smaller publications in the California News Group to Patrick Soon-Shiong, a healthcare mogul and former surgeon, for $500 million.

  • 02/07/2018 17:36:40

    California governor scales back plan for giant water project

    Gov. Jerry Brown is scaling back his troubled proposal for overhauling California's water system — at least for now.

  • 02/07/2018 16:30:56

    UPDATE 2-California says will block crude oil from Trump offshore drilling plan

    SACRAMENTO, Calif., Feb 7 (Reuters) - California will block the transportation through its state of petroleum from new offshore oil rigs, officials told Reuters on Wednesday, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters.

  • 02/07/2018 16:08:32

    Girl Scout reportedly sells 300 boxes of cookies outside of California pot shop

    A reporter captured her on video, but the area Girl Scouts council cant determine her identity.        

  • 02/07/2018 16:03:02

    BRIEF-Development Capital Resources Announces $750 Mln Infrastructure Joint Venture With California Resources Corp

    Ares Management LP(ARES): * DEVELOPMENT CAPITAL RESOURCES ANNOUNCES $750 MILLION INFRASTRUCTURE JOINT VENTURE WITH CALIFORNIA RESOURCES CORPORATION Source text for Eikon: Further company coverage:

  • 02/07/2018 15:46:25

    Rabobank agrees to pay $368 mln over processing illicit funds

    Rabobank N.A., a California unit of the Dutch cooperative bank, agreed on Wednesday to pay over $368 million for processing funds likely tied to drug trafficking and other illicit activity and pleaded guilty in federal court to conspiring to obstruct regulatory oversight.

  • 02/07/2018 15:29:59

    BRIEF-California Water Service Says CPUC Issued Proposed Decision Of Assigned Administrative Law Judge, Which Applies ...

    California Water Service Group(CWT): * CALIFORNIA WATER SERVICE(CWT) - ON FEB 6, CPUC ISSUED PROPOSED DECISION OF ASSIGNED ADMINISTRATIVE LAW JUDGE, WHICH APPLIES TO CO, UNITS, AMONG OTHERS. * CALIFORNIA WATER SERVICE (CWT) - CPUC'S DECISION WAS IN RESPONSE TO 3 OTHER CLASS A WATER COS' REQUEST TO SET COST OF CAPITAL FOR 2018 - 2020.

  • 02/07/2018 14:24:47

    Rabobank pleads guilty to obstructing regulator, agrees to $369 million fine

    Rabobank, a Roseville, California subsidiary of the Netherlands-based Coöperatieve Rabobank U.A., pleaded guilty on Wednesday to a felony conspiracy charge for concealing deficiencies in its anti-money laundering program and obstructing the regulatory examination of the bank. Rabobank will forfeit $369 million. Rabobank admitted to conspiring with several of its former executives to defraud the United States by unlawfully impeding the OCC's ability to regulate the bank, and to allowing hundreds of millions of dollars in untraceable cash, sourced from Mexico and elsewhere, to be deposited into its rural bank branches and transferred via wire transfers, checks, and cash transactions, without the proper notification to federal regulators as required by law. Rabobank had been cited for nearly identical failures in 2006 and 2008. A Rabobank vice president, George Martin, also entered into a deferred prosecution agreement for his role in aiding and abetting the scheme. Martin admitted his conduct in Dec. 2017. Chief executive officer Mark Borrecco said in statement on Rabobank's site, "Settling these matters is important for the bank's mission here in California. Reinforced with strong levels of capital and liquidity, and enhanced internal controls and risk management functions, we are committed to growing with our customers for years to come." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/07/2018 13:37:53

    Girl Scout reportedly sells $300 of cookies outside of California pot shop

    A reporter captured her on video, but the area Girl Scouts council cant determine her identity.        

  • 02/07/2018 13:24:18

    Girl Scout sells $300 of cookies outside of California pot shop

    A reporter captured her on video, but the area Girl Scouts council cant determine know her identity.        

  • 02/07/2018 13:11:03

    Rabobank pleads guilty to money laundering, agrees to $369 million fine

    Rabobank, a Roseville, California subsidiary of the Netherlands-based Coöperatieve Rabobank U.A., pleaded guilty on Wednesday to a felony conspiracy charge for concealing deficiencies in its anti-money laundering program and obstructing the regulatory examination of the bank. Rabobank will forfeit $369 million. Rabobank admitted to conspiring with several of its former executives to defraud the United States by unlawfully impeding the OCC's ability to regulate the bank, and to allowing hundreds of millions of dollars in untraceable cash, sourced from Mexico and elsewhere, to be deposited into its rural bank branches and transferred via wire transfers, checks, and cash transactions, without the proper notification to federal regulators as required by law. Rabobank had been cited for nearly identical failures in 2006 and 2008. A Rabobank vice president, George Martin, also entered into a deferred prosecution agreement for his role in aiding and abetting the scheme. Martin admitted his conduct in Dec. 2017. Chief executive officer Mark Borrecco said in statement on Rabobank's site, "Settling these matters is important for the bank's mission here in California. Reinforced with strong levels of capital and liquidity, and enhanced internal controls and risk management functions, we are committed to growing with our customers for years to come." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/05/2018 16:08:59

    A bagel chain in California tells the tale of rising wages

    After many years of falling jobless rates, wages look like they are finally going up, according to data and stories from the ground. Jane Lee reports. Video provided by Reuters        

  • 02/01/2018 14:24:58

    OSI Systems discloses SEC, DOJ probes into alleged bribery, trading

    OSI Systems said the Securities and Exchange Commission has started an investigation into the company's compliance with the Foreign Corrupt Practices Act, and the U.S. Attorney's Office for the Central District of California has said it also intended to request information regarding FCPA compliance. OSI Systems said the regulators were acting in response to a short seller, as the firm Muddy Waters has alleged the company has relied on bribes to win a major contract in Albania. The SEC and DOJ are also conducting an investigation of trading in the company's securities, and OSI Systems said it's taken unspecified action with respect to a senior-level employee regarding trading. The company separately reported a fourth-quarter loss of $47 million, or $2.47 a share, due to a $2.96 per share charge on the current estimate of the tax on accumulated overseas profits and the revaluation of deferred tax assets and liabilities. OSI Systems shares tumbled 14% in after-hours action.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 02/01/2018 14:23:28

    BRIEF-Pacific Biosciences Announces Qtrly Diluted Net Loss Per Share $0.18

    Pacific Biosciences Of California Inc(PACB) : * PACIFIC BIOSCIENCES ANNOUNCES FOURTH QUARTER AND ANNUAL 2017 FINANCIAL RESULTS. * Q4 REVENUE $24.9 MILLION VERSUS $25.7 MILLION. * QTRLY DILUTED NET LOSS PER SHARE $0.18 Source text for Eikon: Further company coverage:

  • 01/31/2018 15:45:07

    Waymo's self-driving tests in California have fewest human interventions

    SAN FRANCISCO, Jan 31 (Reuters) - Waymo, the self-driving arm of Alphabet Inc, is out ahead of rivals based on a key measure of autonomous driving performance, according to a report released on Wednesday by the California Department of Motor Vehicles.

  • 01/31/2018 11:33:39

    California insurance dept estimates nearly $12 bln in wildfires claims

    Jan 31 (Reuters) - Insurers have received nearly 45,000 insurance claims of about $11.79 billion in losses from the wildfires that occurred in California in October and December, the California Department of Insurance said on Wednesday.

  • 01/29/2018 13:16:17

    Clarification: Damaged Dam story

    The costs of dealing with last year's near-disaster at the nation's tallest dam have reached $870 million, California officials said Friday.

  • 01/29/2018 10:10:48

    Plastic straws illegal unless requested under California bill — with up to a $1,000 fine attached

    The bill, which would apply only to sit-down restaurants, aims to curb excessive waste.        

  • 01/28/2018 05:40:28

    Can California Beat Trump in the Fight over Vehicle Emissions?


  • 01/27/2018 09:57:33

    After California pot stockpiles go up in smoke, what's next?

    Like many pot shops in California, the Urbn Leaf in San Diego bulked up its inventory before legal sales began on Jan. 1, stockpiling enough marijuana to last for months because no one knew what the era of legal pot would bring.

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