By JACOB ADELMAN Home sales in the San Francisco Bay Area plummeted 22.8 percent last month from the previous year to reach their lowest level in 15 years, a tracking firm reported Thursday.San Diego-based MDA DataQuick said the drop from 8,771 homes in July 2009 to 6,773 homes last month came as the market adjusted to the end of federal tax credits for first-time buyers.Last month was the slowest July since 1995, when just under 6,666 homes were sold in the nine-county region, the firm said.
More | Talk | Read It Later | ShareBy SETH BORENSTEIN A 22-mile-long invisible mist of oil is meandering far below the surface of the Gulf of Mexico, where it will probably loiter for months or more, scientists reported Thursday in the first conclusive evidence of an underwater plume from the BP spill.The most worrisome part is the slow pace at which the oil is breaking down in the cold, 40-degree water, making it a long-lasting but unseen threat to vulnerable marine life, experts said.Earlier this month, top federal officials declared the oil in the spill was mostly "gone," and it is gone in the sense you can't
More | Talk | Read It Later | ShareBy GILLIAN FLACCUS A jury Thursday convicted a 57-year-old man of the torture-murder of his adult daughter, whose body was kept in a freezer for two years.The Orange County Superior Court jury found Clarence Butterfield guilty of first-degree murder and assault with a deadly weapon, and also found true special circumstances of murder with mayhem and murder with torture.He faces a term of life in prison without the possibility of parole when he is sentenced on Oct.
More | Talk | Read It Later | ShareBy BETH HARRIS Olympic champion Michael Phelps has failed to make the 400-meter individual medley final at the Pan Pacific championships.Phelps had the fourth-fastest time of 4 minutes, 15.38 seconds in Thursday morning's preliminaries, but only two swimmers per country are allowed in the evening final.World champion Ryan Lochte of the U.S.More | Talk | Read It Later | Share
President Barack Obama is urging Republican leaders to stop blocking the jobs bill stalled in Congress.Speaking at the White House, the president said there would be plenty of time for politics but that this issue should not fall victim to partisanship.His brief remarks Thursday followed more bad economic news.More | Talk | Read It Later | Share
By TALI ARBEL A private research group said its gauge of future economic activity edged up in July, suggesting growth will be sluggish for the rest of the year.The Conference Board said Thursday that its index of leading economic indicators rose 0.1 percent last month after dropping 0.3 percent in June.More | Talk | Read It Later | Share
By STEPHEN BERNARD Stock futures are falling after a disappointing report on weekly claims for jobless benefits.The Labor Department says initial claims for unemployment benefits jumped by 12,000 to 500,000 last week.More | Talk | Read It Later | Share
At least two carriages of a passenger train fell into a river Thursday after floods knocked out a bridge in southwestern China, but there were no fatalities, state media reported.The accident happened in Guanghan, a city about 50 kilometers (30 miles) north of the Sichuan provincial capital of Chengdu, when floods loosened piers on the Shitingjiang bridge, the official Xinhua News Agency said.The website of the provincial propaganda department said no fatalities were reported by railway officials.The train was traveling from Xi'an in northwestern Shaanxi province to Kunming
More | Talk | Read It Later | ShareBy NAHAL TOOSI The United States will increase its aid to flood-ravaged Pakistan to $150 million, U.S. Sen. John Kerry said Thursday, stressing that Washington did not want Islamist extremism to increase on the back of the crisis.The floods have affected 20 million people and 1/5 of the country, straining its civilian government as it struggles against al-Qaida and Taliban violence.
More | Talk | Read It Later | ShareRoger Federer says there a little bit of magic at work in his trick-shot video that has drawn more than 1.2 million views on YouTube.The video shows Federer knocking a metal can off a man's head with a serve while shooting an ad for Gillette.More | Talk | Read It Later | Share
The Bureau of Land Management has suspended future event permits for the promoter of last weekend's off-road race in the California desert where eight spectators were killed by a racing truck.The federal agency said Thursday the suspension of any MDR Productions permits will remain in effect while an investigation of the accident is under way.The spectators were killed Saturday night during the California 200 off-road race in the Mojave Desert northeast of Los Angeles.
More | Talk | Read It Later | ShareThe White House says President Barack Obama is a Christian who prays daily.White House spokesman Bill Burton made the remark Thursday, hours after a poll showed 18 percent of Americans think Obama is Muslim, up from 11 percent who thought so last year.
More | Talk | Read It Later | ShareBARRY SCHWEID and MATTHEW LEE The Obama administration says it is near to securing an agreement between Israel and the Palestinians to resume direct peace talks and U.S. officials say an announcement could be imminent.The State Department said Thursday that an agreement was "very, very close" but that details were still being worked out.More | Talk | Read It Later | Share
By DINA CAPPIELLO The owner of the Deepwater Horizon rig is accusing BP of withholding critical evidence needed to identify the cause of the worst maritime oil spill in history.In a sternly worded letter obtained by The Associated Press, Transocean says that lack of information is preventing the company from informing state and federal investigators, and the families of those killed on the rig, about what happened.According to the rig's owner, BP appears to be preventing any other entity from investigating the blowout.Transocean also reveals that it reluctantly signed a conf
More | Talk | Read It Later | ShareBy ALAN ZIBEL Mortgage rates fell to the lowest level in decades for the eighth time in nine weeks, a sign that investors are concerned about the weak economy.The average rate for 30-year fixed loans this week was 4.42 percent, down from 4.44 percent last week, mortgage buyer Freddie Mac said Thursday.
More | Talk | Read It Later | ShareCongress' budget analysts are estimating that this year's federal deficit will exceed $1.3 trillion, slightly below last year's total but still a huge ocean of red ink.The nonpartisan Congressional Budget Office said the enormous shortfall is a result of the still staggering economy, which has meant lower federal revenues plus extra government spending aimed at prodding growth.But the budget office sees this year as a turnaround.
More | Talk | Read It Later | ShareBy CHRISTOPHER S. RUGABER New applications for unemployment insurance reached the half-million mark last week for the first time since November, a sign that employers are likely cutting jobs again as the economy slows.The Labor Department said Thursday that initial claims for jobless benefits rose by 12,000 last week to 500,000, the fourth increase in the past five weeks.More | Talk | Read It Later | Share
By MAE ANDERSON Cost cuts helped Staples Inc.' second-quarter net income rise 40 percent as revenue remained flat as Americans and small businesses spent cautiously on office supplies.The nation's biggest office supply chain said Tuesday that net income for the three months ended July 31 rose to $129.8 million, or 18 cents per share, from $92.4 million, or 13 cents per share, last year.Net income was 20 cents per share excluding a restructuring charge.
More | Talk | Read It Later | ShareBy BETH HARRIS Michael Phelps led all the way in winning the 200-meter butterfly at the Pan Pacific championships on Wednesday night to extend his eight-year dominance in the event.The American touched in 1 minute, 54.11 seconds, fastest in the world this year.More | Talk | Read It Later | Share
By JOHN CARUCCI A source close to Steven Tyler says the Aerosmith frontman told the source he will be a judge on Fox's "American Idol" next season.While an official announcement about Tyler has yet to come from Fox and the producers of the top-rated show, the source told The Associated Press on Wednesday, "there is no reason to refute" Tyler's account.
More | Talk | Read It Later | ShareA federal grand jury on Thursday indicted seven-time Cy Young Award winner Roger Clemens for allegedly lying to Congress about using steroids.Clemens faces charges of obstruction of Congress, making false statements and perjury.The former Major League baseball pitcher and his former trainer, Brian McNamee, testified under oath at a 2008 hearing before a House committee and contradicted each other about whether Clemens had used the banned substances.McNamee has told federal agents, baseball investigator George Mitchell and the committee that he injected Clemens more than a d
More | Talk | Read It Later | ShareBy DOUG ALDEN The commissioner of the Western Athletic Conference says the remaining members aren't likely to make it easy on Fresno State and Nevada when the two schools leave for the Mountain West.Karl Benson says the Bulldogs and Wolf Pack are going to have to pay up on a departure fee and possibly stay in the WAC until 2012 because they didn't meet a deadline to get out of the league earlier.More | Talk | Read It Later | Share
A majority of federal health advisers say a best-selling antidepressant from Eli Lilly & Co. appears effective in treating back pain, but not arthritis.The Food and Drug Administration is considering whether to broaden approval of Cymbalta to treat chronic pain, which would expand sales of a drug already used by 15 million U.S.
More | Talk | Read It Later | ShareThe Homeland Security Department is reporting that about a third of 130,000 criminal immigrants removed from the U.S. last year committed crimes involving dangerous drugs.The department says the category includes manufacturing, distribution, sale and possession of illegal drugs.More | Talk | Read It Later | Share
The Obama administration and half a dozen members of Congress are expressing concern over the potential release of reputed international arms merchant Viktor Bout by the government of Thailand.The State Department says that sending Bout to the United States to face criminal charges is a high priority for the U.S.Three Democrats and three Republicans in Congress say that if Bout is freed, he would provide arms to groups that target U.S.More | Talk | Read It Later | Share
By SAM HANANEL The Labor Department says the number of workers who died on the job fell by 17 percent last year to the lowest level in nearly two decades.The 4,340 workplace fatalities recorded in 2009 was the smallest total since the Bureau of Labor Statistics first began tracking the data in 1992.The agency says high unemployment and layoffs in more dangerous industries like construction played a major role in the decrease.Workers on average logged 6 percent fewer hours last year than in 2008.
More | Talk | Read It Later | ShareChip maker Intel says it has agreed to buy computer-security software maker McAfee Inc. for $7.68 billion, or $48 per share.The per-share price represents a 60 percent premium over McAfee's Wednesday close of $29.93.More | Talk | Read It Later | Share
By ASHLEY M. HEHER Sears Holdings Corp. cut its second-quarter loss by more than half as profit margins perked up at its Kmart chain, the retailer said Thursday.For the three months that ended in late July, the owner of Sears and Kmart lost $39 million, or 35 cents per share.More | Talk | Read It Later | Share
Kyle Busch won his third straight NASCAR Trucks race at Bristol Motor Speedway on Wednesday night.Busch, who won the pole position for the O'Reilly 200, was relegated to a 35th at the start because of an engine change after qualifying.More | Talk | Read It Later | Share
By REBECCA SANTANA As their convoy reached the barbed wire at the border crossing out of Iraq on Wednesday, the soldiers whooped and cheered. Then they scrambled out of their stifling hot armored vehicles, unfurled an American flag and posed for group photos.For these troops of the 4th Stryker Brigade, 2nd Infantry Division, it was a moment of relief fraught with symbolism.More | Talk | Read It Later | Share