Cash-short California OKs 3.75 pct rate for 'IOUs'
SAN FRANCISCO, July 2 (Reuters) - Facing a cash crisis without a state budget agreement, California officials approved on Thursday a 3.75 percent interest rate and Oct. 2 maturity date for registered warrants, or "IOUs," the state will issue in lieu of payments to vendors, local agencies and individuals owed money. (Reporting by Jim Christie; Editing by James Dalgleish)
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India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article
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