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- News You Need to Know (BusinessWeek)
Ho-hum. On Oct. 28, in the course of a few hours, the Dow Jones industrial average roared up 889 points, or 10.9%, its second-largest point gain ever. Alas, at this stage of the financial crisis, investors suspect that such moves amount to little but so... www.businessweek.com
- Schwarzenegger calls for immediate tax increases, budget cuts (BizJournals)
California Gov. Arnold Schwarzenegger proposed $4.7 billion in new taxes -- including a three-year increase in the state sales tax -- and $4.5 billion in new cuts Thursday to prevent a cash crisis brought on by a projected $11.2 billion hole in the current state budget. www.bizjournals.com
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