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FEMA takes new role in post-storm repairs  The Federal Emergency Management Agency reports it has completed more than 127,000 inspections of Louisiana houses and apartments hit by Hurricanes Gustav and Ike, part of its expanded role in doling out home repair grants.

California's economy seen geting worse   California's sputtering economy is going to get worse, a report released on Wednesday said.

Long, dark tunnel seen for California's economy  The state's housing sector will rebound next year, but its broader economy will struggle for months after that, UCLA Anderson Forecast says. Housing prices will hit bottom some time next year, but the California economy will be in distress for months to come, according to a closely followed UCLA economic report scheduled to be released today.

$25 Million Claim Filed Against Inglewood Police  A wrongful death claim has been filed against the city of Inglewood on behalf of a child whose father was killed by police. The $25 million claim is the third one relating to Kevin Wicks, who was killed when he answered his door after midnight on July 21. Police say they were responding to a reported domestic dispute when Wicks opened the door and pointed a gun at officers.

UCLA economists issue gloomy California forecast  The state's housing sector will bottom next year, but its broader economy will struggle for months after that, the UCLA Anderson Forecast says. Housing prices will hit bottom some time next year, but the California economy will be in distress for months to come, according to a closely followed UCLA economic report scheduled to be released today.

Two Arrested in Counterfeit Currency Investigation  The seizure of counterfeit currency in Costa Mesa and the arrests of two local residents led police Wednesday to call on retailers and others to closely examine any $5 bills in their possession. An investigation that spanned about a month turned up numerous bogus bills and counterfeiting equipment, and police believe there have been other unreported instances of fake money being circulated in ...

Six-point earthquake occurs in China's west  BEIJING, September 25 Itar-Tass - An earthquake with a magnitude of six points occurred in the Tibetan Autonomous District of the People's Republic of China on Thursday. According to reports by the Xinhua news agency, there has been no word as to whether anyone was hurt or any damage inflicted.

Auto industry to get $25 billion in federal loans  WASHINGTON -- In the next few years, consumers could see the fruits of $25 billion in government loans for the auto industry through a broader lineup of gas-electric hybrid vehicles, new plug-in electric cars and an expansion of fuel-efficient engines.

Sales of preowned homes in West rose in August   Associated Press - September 25, 2008 1:44 AM ET Two reports released today Wednesday say sales of existing homes in the West climbed higher in August versus a year ago.

Metrovacesa Struggles to Sell HSBC Tower in London, FT Reports  Sept. 25 -- Metrovacesa SA has yet to find a buyer for a part sale of the HSBC Holdings Plc tower in Canary Wharf, the Financial Times reported.

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