Gov. Arnold Schwarzenegger has reappointed his former scheduler to a $132,000-a-year job as head of a board his office says is redundant and is seeking to eliminate. Margo Reid Brown has been chairwoman of the Integrated Waste Management Board since 2006….

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Schwarzenegger appoints several to high-paid posts

A marketing campaign for a GlaxoSmithKline prostate drug has drawn complaints from federal regulators, who said the space-themed advertisement is misleading. The British drugmaker’s Avodart capsules treat symptoms of enlarged prostate, including frequent…

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FDA calls Glaxo ad for prostate drug ‘misleading’

NEW YORK (Reuters) – U.S. stocks fell and the S&P 500 marked its worst-ever start to a year on Friday, after the government said it will take a large stake in Citigroup’s common shares, fanning fears it will increase its role in other major banks.

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Bank fear sends S&P to worst-ever start to a year

With it’s slim white body and glowing amber tip, it can easily pass as a regular cigarette. It even emits what look like curlicues of white smoke. The Ruyan V8, which produces a nicotine-infused mist absorbed directly into the lungs, is just one of a rapidly…

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Chinese e-cigs gain ground amid safety concerns

NEW YORK (Reuters) – American International Group Inc may securitize some U.S. life insurance policies and have the interest rate on a government loan lowered, as talks continue to help the insurer deal with its financial problems, a source familiar with the matter said on Friday.

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AIG talks weigh securitizing life policies: source

NEW YORK/WASHINGTON (Reuters) – The U.S. government will boost its equity stake in Citigroup Inc to as much as 36 percent, bolstering the bank’s capital base in the latest emergency effort to save the banking giant.

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Citigroup gets new rescue, U.S. may own 36 percent

WASHINGTON (Reuters) – The U.S. economy suffered its deepest contraction since early 1982 in the fourth quarter, shrinking at a much worse-than-expected 6.2 percent annual rate as exports plunged and consumers slashed spending.

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U.S. economy plummets

BOSTON (Reuters) – General Electric Co plans to cut its quarterly dividend by 68 percent to 10 cents a share, starting in the second half of 2009, a move that it said would provide it with more “flexibility” in the face of a recession.

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GE slashing payout to protect “flexibility”

NEW YORK (Reuters) – Oil prices fell 1 percent on Friday, pulled lower by U.S. data showing the economy of the world’s largest energy consumer shrank more than expected in the final three months of 2008.

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Oil pulled lower by dismal U.S. GDP data

California’s unemployment rate jumped to 10.1 percent in January, the state’s first double-digit jobless reading in a quarter-century. The jobless rate announced Friday by the state Employment Development Department represents an increase from the revised…

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California unemployment rate jumps to 10.1 percent

In a Feb. 25 story about pizza company earnings in the fourth quarter, The Associated Press erroneously reported Yum Brand’s share price movement. The stock price quoted was for Papa John’s, not Yum Brands. Also, the story implied that Pizza Hut’s sales…

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Correction: Pizza Earnings Roundup

TORONTO (Reuters) – When Nortel Networks Corp reports its quarterly results on Monday, the focus is likely to fall on the top line as investors look to see how well sales at the ailing telecom equipment maker are holding up in the global economic meltdown.

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For ailing Nortel, quarterly revenue is crucial

Caifornia’s unemployment rate hit 10.1 percent in January, the highest level in 26 years, as more than 1.8 milllion state residents looked for work last month without success. A state Employment Development Department report issued Friday said California…

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State unemployment reaches 10.1%

Barry Bonds’ trainer Greg Anderson told a judge Friday he won’t testify at the slugger’s perjury trial, while federal prosecutors mulled whether to appeal a key ruling and delay the start of the case. U.S. District Court Judge Susan Illston said the trial…

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Feds to decide on appeal of Bonds evidence ruling

If the economy looks like it’s going downhill now, just wait. Government data released Friday showed the economy is slowing down much more dramatically than economists expected. But the current economic woes will pale in comparison to the big storm that’s…

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Financial Bookshelf: ‘The Great Depression Ahead’