Tuesday, January 14, 2014
SACRAMENTO, Calif. (AP) — California's largest public pension system is reporting its biggest annual investment gains in a decade. The Sacramento Bee reports CalPERS said yesterday that its portfolio grew by 16.2 percent last year, boosted by a run-up in stock prices. The newspaper says despite those gains, CalPERS is still in a financial hole, largely the result of huge losses suffered during the 2008 market crash.
SAN FRANCISCO (AP) -- Wells Fargo says its fourth-quarter profit rose 11 percent as increased interest income helped offset a steep drop in mortgage lending. Rising rates on U.S. mortgages continued to have a negative impact on Wells Fargo's mortgage business in the fourth quarter. The San Francisco-based bank funded $50 billion worth of mortgages in the period, down from $125 billion a year earlier.
TULARE, Calif. (AP) — The CHP says 15 passengers have been hospitalized with minor injuries after a bus rear-ended a big rig on a Central Valley freeway. Officers say the collision happened just before midnight in the slow lane of northbound Route 99 in Tulare, about 40 miles south of Fresno. Fifteen people were transported to hospitals. Seventeen others complained of pain and other minor injuries but refused treatment. KABC-TV reports the bus was en route from LA to Washington state.
SAN ANTONIO (AP) — Hotel surveillance video has helped Texas police arrest a suspect in the slaying of a Northern California man whose body was found when he missed a funeral. San Antonio police last night said they've arrested Ivan Aguilar on a murder charge in the death of Vincent Diaz of Millbrae. Friends called the hotel Dec. 23 when Diaz didn't show up for a funeral. His body was discovered in his room.