Fed Signals Rate Cut/Stocks End Mixed

 
(AFP/Getty Images: Chip Somodevilla)
       WASHINGTON (AP) – The Federal Reserve chief is signaling the
central bank is ready to lower interest rates some more. Ben
Bernanke told the House Financial Services Committee that downside
risks to the economy remain significant. He goes before a Senate
panel tomorrow.
     NEW YORK (AP) – Stocks closed little changed and narrowly mixed.
The Dow [...]

Court-martial Postponed For Marine Accused of Manslaughter

     CAMP PENDELTON, Calif. (AP) – A judge has postponed the court-martial of a Marine staff sergeant accused in an attack that led to the deaths of 24 Iraqis.  The judge, Lt. Col. Jeffrey Meeks, delayed the court-martial of Staff Sgt. Frank D. Wuterich from March 3 to March 10 to allow the testimony of [...]

Chico Police Investigate Sexual Assault

Chico police are investigating a sexual assault near a church.  Sgt. Dave Barrow says the 21-year old victim was approached by a black man Monday night just before eleven near the Trinity United Methodist Church on Fifth street.  The victim was dragged into a shed in the parking lot and assaulted. Barrow says following the assault the [...]

KPAY Morning News On Demand

Listen to this morning’s top reports and interviews.  Click on KPAY News On Demand.

((Update)) Structure Fire in Butte County

Fire crews were in the Oroville area this morning working to extinguish a blaze. A fire was reported around 8 AM on Oro-Bangor Highway in a shed. Cal Fire Battalion Chief Mike Brown says damage is estimated at $4,000.  The investigation into what started the fire is centered around reports of a transient in the building.

Bernanke Warns Congress about Sluggish Economic Growth

WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke has warned Congress that the country is in for a period of sluggish economic growth given the housing bust and credit crunch. He sent a fresh signal Wednesday that the Fed will lower rates yet again to brace the teetering economy. The Fed chief also told a [...]

Chico Fire Chief to Step Down

A changing at the top of the Chico Fire Department.  Chief Steve Brown is stepping down.  A news release says the retiring Chief’s successor will be appointed in the coming weeks. Brown was appointed Chief in 1995 and before that served 10 years as a Fire Chief for Cal Fire and the Butte County Fire [...]

Jury Selection Underway for Shasta County Murder Trial

REDDING, Calif. (AP) – Jury selection has started in the trial of a 27-year-old Sacramento man who is accused of killing his stepfather with a martial arts sword in Shasta County. Jonathan Lee Junior is accused of killing 50-year-old Barry Smith and attacking his mother with the sword at the couple’s home in Happy Valley [...]

Pot Bust in Oroville

A 47 year old Oroville woman arrested on various drug charges.  Carl Sturdy with the Butte Interagency Narcotics Task Force says they served a search warrant Monday morning after an out of state tip. Shirley Lacy faces cultivation and possession for sale charges after authorities found more than 25 pounds of marijuana, more than 250 [...]