Stephen Levy News
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California Governor Jerry Brown damped lawmakers’ hopes for using a tax windfall with a revised budget that expends $1.3 billion less next year than he proposed four months ago.
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California’s first credit upgrade in six years shows how curbs on pension costs, a voter-backed tax boost and an improving economy have allowed it to exit Wall Street’s basement, leaving Illinois as the lowest-rated state.
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A surge in wealth from technology stock sales and initial public offerings is spilling into the Silicon Valley real estate market as newly rich workers bid up home values in suburban cities south of San Francisco.
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The San Francisco Bay Area, a region that encompasses booming Silicon Valley, led California in job growth last year as the technology industry workforce rose.
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Apple Inc. is leading the biggest leasing surge in California’s Silicon Valley since the dot-com boom, as the company scours the region for space before building a futuristic new headquarters.
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California took in less revenue than needed to stay within its budget last month, leaving the most- populous U.S. state at risk of triggering automatic cuts to universities and caregivers for the elderly and disabled.
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Moody’s Investors Service upgraded $2.2 billion of San Francisco debt, citing a rebound in the municipal tax base after the longest recession since the 1930s.
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When California Lieutenant Governor Gavin Newsom begins meetings in Austin with Hardee’s hamburgers chief Andrew Puzder, local Chamber of Commerce Chairman Bobby Jenkins and Texas Governor Rick Perry , it’s because the most- populous state lingers in a funk, even as the U.S. pulls out of the deepest recession in half a century.
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Rebounding technology stocks and limited housing supply are lifting San Francisco real estate as buyers compete for properties and drive up prices.
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The next governor of the most populous U.S. state may be handed a gift that’s hard to see from the capitol in Sacramento: the economy.
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