BRIEFCASE.Byline: - Staff and Wire Services State's job rolls gre by 17,000 California's economy added 17,600 jobs in May, accounting for nearly 23 percent of the jobs created nationwide, the state Employment Development Department said Friday. More than 14.7 million people in the state held payroll jobs during the month (not including farm workers and the self-employed). With few exceptions, the state has been adding jobs across all sectors, although overall job gains are modest. State orders close of payday loaners Six Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, ``payday loan A payday loan or paycheck advance is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. Typical loans are between $100 and $1500, on a two-week term and have interest rates in the range of 390 percent to 900 percent stores'' were ordered Friday to stop lending money because they were allegedly operating without licenses, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the California Department of Corporations. ``Desist and refrain'' orders were issued to six lenders: Cash It Quick of Lancaster; K&W Check Cashing of Gardena; Pro Check Cashing of Santa Ana Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. ; Anyday's Payday and Loan of Yucaipa; D & J Market in Hesperia; and Express Cash Advance in Lake Elsinore. Ford offers bonus for luring buyers DETROIT - In a new gambit to boost slumping sales, Ford Motor Co. is one-upping General Motors Corp. and giving up to $1,000 in cash to employees and retirees who entice friends, relatives and neighbors to buy new cars and trucks. Friday's announcement came as early numbers showed a big jump in GM's market share under its new incentive program, which lets all customers use the employee discount rate through July 5. Ford's program also extends employee discounts to all customers. For the first 12 days of June, GM's share of new-vehicle sales hit 30.3 percent, according to a survey by J.D. Power. BofA purchases China Bank stake CHARLOTTE, N.C. - Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Corp.'s $3 billion purchase of a stake in the China Construction Bank drew a mixed reaction Friday as a bold step into a growing market, but one that could also be a risky venture that could lead to big losses. In announcing the move Thursday, Ken Lewis, head of the nation's third-largest bank, depicted it as a logical response to the direction of the global economy. Under its agreement with state-owned China Construction, Bank of America will spend $3 billion for a 9 percent stake of the bank - the largest single purchase of stock in a Chinese bank by any foreign bank. Shares of Bank of America rose 21 cents to close at $46.64 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . U.S. trade deficit hits all-time high WASHINGTON - The deficit in the broadest measure of international trade rose to an all-time high of $195.1 billion from January through March of this year as the country sank deeper into debt to Japan, China and other nations. The Commerce Department reported Friday that the deficit in the current account rose by 3.6 percent from the previous quarterly record, an imbalance of $188.4 billion in the final three months of 2004. The current account deficit has risen to record heights in recent years as America's demand for foreign goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. has soared, raising worries about the country's ability to continue financing a trade deficit at such heights. MS board to weigh Discover spinoff NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Morgan Stanley's proposed spinoff of its Discover Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. division will face a critical test next week when the company's board of directors weighs whether the plan makes sense amid the firm's management changes. The Wall Street Journal, citing anonymous sources familiar with the situation, reported Friday that Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. may opt not to pursue the spinoff. The upcoming retirement of chairman and chief executive Phil Purcell, a surprise announcement made Monday, may prompt the board to postpone its decision until new leadership is in place.
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