Schwarzenegger declares California fiscal emergency

SAN FRANCISCO (Reuters) – California Governor Arnold Schwarzenegger declared a state of emergency over the state’s finances on Wednesday, raising pressure on lawmakers to negotiate a state budget that is more than a month overdue and will need to close a $19 billion shortfall.

RIM stock jumps as revamped BlackBerry nears

VANCOUVER, British Columbia (Reuters) – Shares of Research In Motion jumped on Wednesday on speculation that next week it would unveil a new touchscreen BlackBerry that could compete more effectively with Apple Inc’s iPhone and other smartphones.

California Pizza Kitchen gets PE bidder: sources

PHILADELPHIA/NEW YORK (Reuters) – Private equity firm American Securities is bidding for California Pizza Kitchen Inc , two people familiar with the situation said.

Facebook beats back patent infringement claim

WILMINGTON, Del (Reuters) – Facebook Inc won a legal fight on Wednesday over claims its hugely popular social networking website infringed a patent owned by Leader Technologies, but the little-known company said it would ask the judge to set aside the verdict.

ICBC to raise up to $6.6 billion in rights issue

HONG KONG (Reuters) – Industrial & Commercial Bank of China , the world’s most valuable bank, plans to raise up to 45 billion yuan ($6.64 billion) through a rights offer, the latest in a series of massive fundraising plans by Chinese lenders to shore up their capital base.

Study changes picture of U.S. quake hazards

WASHINGTON (Reuters) – The risk of earthquakes in the U.S. Midwest may be more widespread than geologists have believed, but a “big one” may be less likely at Missouri’s New Madrid fault, researchers said on Wednesday.