Thursday morning headlines

Stocks keep climbing: More positive vibes out of Wall Street, though the Dow is well off its highs for the day.

Consumers stay cautious: Nearly three out of four Americans say they've cut back on spending and nearly half avoid shopping or shop only for things they need, according to a Citigroup survey.

Not saving enough for retirement: Average shortfall for a middle-age American is $47,732 per person, according to a new study. Single women have the biggest shortfalls. (Economix)

Toyota recall: This time it's brake and fuel pump problems on several Lexus and Avalon models. (NYT)

Health insurer sued: HealthMarkets and majority owners Goldman Sachs and Blackstone Group are accused of defrauding California customers with insurance that offered little or no protection. The suit was filed by the L.A/ City Attorney's office. (LAT)

New rules on Calpers investments: CIM Group, a major real estate investment fund, has agreed to cut its fees and not use sales intermediaries in closing deals with the big state pension fund. From the LAT:

The fee reductions are intended to compensate CalPERS for any costs it may indirectly have paid because of the large commissions paid by investment partners to placement agents. One such agent, Alfred J.R. Villalobos, a former CalPERS board member and Los Angeles deputy mayor, received more than $50 million in commissions for helping investment funds, including Apollo and CIM, get money from CalPERS.

LAX concession deal approved: The City Council signed off on nine contracts that will bring new restaurants and shops to Terminals 4, 5, 7 and 8 sometime this summer. This doesn't include a contentious contract that will be rebid after a council board threw it out. (Daily Breeze)