Thursday morning headlines

Stocks pulling back: Dow is now under 11,000 and suddenly there are concerns about Greek debt and jobless claims. Or is it just profit-taking from the recent stretch of gains?

Villaraigosa backs down on furloughs: The mayor's chief of staff, Matt Szabo, acknowledges that "we need to work with the council if, in fact, we would need to implement such a plan." He called the two-day-a-week closure idea a "plan of last resort." Earlier, the city council's legislative analyst said the mayor cannot shut down city services without council approval. (AP)

Boost in retail sales: Strong March results were reported at many of the major chains, another sign that the consumer is coming back (though slowly). Since Easter came early this year, there's already concern about a soft April. (Reuters)

Borrowing lags: The $11.5 billion decline in February was much weaker than the $500 million gain that some economists had expected. Consumers appear unwilling to take on more debt, though remember these are February numbers. (AP)

Foreclosure jump expected: A Bank of America executive projects a 600 percent jump in foreclosures this year, from the current 7,500 homes a month to 45,000 a month by the end of the year. (Irvine Housing Blog)

L.A. rentals expected to slip: Look for them to fall as much as 3.5 percent this year, according to a study. Overbuilding and foreclosures are largely to blame, even as rental prices are inching up in other parts of the nation. (LAT)

Upbeat about California's future?: Well, sorta: Nine out of 10 people surveyed in a Citibank poll said the state's job and real estate markets are only fair, but 64 percent said California is a good or great place to live and 62 percent are comfortable with their level of debt. (press release)

Online ad revenue picks up: A 2.6 percent fourth-quarter bump was the first year-over-year increase in more than 12 months. It also was up almost 14 percent from the previous three months. Retailers were the biggest spenders. (Bloomberg)

Oprah goes nighttime: She plans to host an evening show on her new cable network, OWN, probably premiering late next year. From the WSJ:

Ms. Winfrey's new show, which could air as many as two or three times a week, will take Ms. Winfrey out of the studio setting that has been her home for 25 years and follow her around the globe for conversations in places such as Egypt and China. "I'm going to take viewers with me, going to take celebrities I want to interview with me" around the world, Ms. Winfrey said in an interview.

"Jeopardy," "Wheel" renewed: ABC-owned stations have reached a two-year agreement with CBS Television Distribution. Also, "Wheel" host Pat Sajak and "Jeopardy!" host Alec Trebek have extended their agreements with Sony Pictures Television. (The Wrap)