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SACRAMENTO - Expectations are running high for Gov. Arnold Schwarzenegger’s proposed
remedy next week to fight California’s economic flu, which has spread from the housing market to
the pocketbook.

The decision by Judge Eileen Bransten of New York State Supreme Court throws the fate of Hexion’s proposed $6.5 billion merger with Huntsman into doubt.

Money & Co. blog: Losses in stocks, bonds and commodities worldwide assure this month will rank among the worst ever.

The enhanced program will include the opening of regional counseling centers, the hiring of 300 additional loan counselors, new financing alternatives and a new loan review process.

THE CLOSING BELL — UP 144: The stock market has closed out a horrendous October, its worst month in 21 years, with a big advance as more investors took chances on stocks turned into bargains by waves of intense selling. NYSE,
NASDAQ

Money & Co. blog: Savers are shifting more to commercial banks from thrifts and money funds.

Oil production dropped from the second quarter because of hurricanes, but net income more than doubled compared to the same period a year ago. So far this year, Chevron has earned $19 billion.

Chevron Corp. today announced earnings of $7.9 billion in the third quarter, capping a week of historic profits for some of the world’s major oil companies.

WASHINGTON — Federal Reserve Chairman Ben Bernanke said today that the housing finance system being constructed following the collapse of the current system will need better safeguards to allow it to function during times of stress.

The Dow was up 172 points, or 1.9%, in mid-session trading as one of the worst months in market history neared at end.

Stocks shot higher in mid-session trading today as investors looked past another round of downbeat economic news and instead breathed a sigh of relief that one of the worst months in market history was finally coming to an end.

Many retail campaigns will start appearing on Saturday, the traditional start of the holiday shopping season, but the timing could hardly be worse.

The once-hot market for Web banners is not only cooling, it’s in danger of going subzero. A rash of earnings reports from online ad companies shows that marketers are rapidly pulling back on banners and other kinds of display advertising, in…

THINGS are getting so bad in the magazine industry these days that they no longer wait until Friday to sneak out the bad news. The ax fell yesterday at Condé Nast, the home of the glitziest magazines in the business. When the counting is done…

The economy contracted from July through September, the government reported, while consumer spending dipped for the first time in 17 years.

NEW YORK — Wall Street wavered today, as investors tried to decide whether to extend or lock in the week’s big gains after a report that showed worried consumers are cutting back on their spending.

The cellphone maker lost $397 million in the quarter and warned investors that there was no quick fix to its problems.

Amid dismal sales and a massive charge, it’s clear that Sun is coming under pressure to do something radical.

The merger of General Motors and Chrysler is a cultural shift that some people in Detroit find hard to swallow.

While rivals talk mergers, Ford executives vow to survive by staying independent and stepping up production.

The Washington Post Co. today reported an 86 percent decline in third-quarter earnings compared with the same period last year, as a significant loss at the flagship newspaper offset gains at the company’s education and cable divisions.

Citadel Investment Group LLC, the investment firm run by Kenneth Griffin, plans to wind down a $1 billion fund that invests in hedge funds and shift the capital to a business that finances new managers. Griffin, 40, who started Citadel in 1990…

Electronic Arts will slash 6 percent of its workforce amid an expanded second-quarter loss and growing uncertainty about the video game industry’s ability to grow in a weak economy. The distributor of the popular “Rock Band” video game said it…

Instead of spending Uncle Sam’s rescue billions to spur business deals, banks are squandering a good chunk of it on dividend checks for thousands of well-heeled shareholders. Banks were already under fire for cautiously hoarding their cash from…

Sumner Redstone yesterday reiterated the recent sale of CBS stock by his holding company was an “extraordinary circumstance” that wouldn’t be repeated, but his comments did little to reassure analysts. Redstone opened CBS’ third-quarter earnings…

Investors found a surprise reprieve in the economy’s sharp summer slowdown - the hit wasn’t as wretched as most economists had expected, at least for now. The economy shrank at its worst third-quarter rate in seven years, contracting by 0.3…

Wall Street master of the universe Stephen Schwarzman might be a man with few regrets, but even he has now admitted what everyone else on Wall Street already knew: His lavish 60th birthday party in 2007 was a bit over the top. “Obviously…

HOUSTON — Chevron Corp. said today its third-quarter profit more than doubled on the back of record crude prices this summer, though worldwide production fell during the period.

Consumers shied away from big-ticket items in September, as wages remained basically stagnant and people began to tuck more money into savings — further evidence of a pullback by American households.

Experts say it is difficult to devise programs to aid distressed homeowners without giving everyone else a reason to mail the keys back to their lenders.

In what might be the high-water mark for corporate profits, Exxon Mobil reported quarterly income of $14.8 billion as oil prices hit a record this summer.

The German car maker said third-quarter net profit rose 28 percent on improved sales in emerging markets and stuck to its forecast of beating last year’s sales.