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Business Daily is in sunny California, where the fabled golden State has turned grey with gloom... Twenty-five billion dollars worth of budget deficit has forced the lay-off of thousands of police officers, fire officers and teachers, and without more controversial tax hikes, some say California could go bust. Ed Butler meets voters and workers to get their views, and speaks to Phil Bachelor, City Manager of Vallejo, one of the worst-hit cities in the state, and Mark Baldassare, President of the Public Policy Institute of California. US Treasury Secretary Tim Geithner speaks to the Â鶹Éç's Evan Davis about China's currency and the global banking system. Indra Nooyi, the Chairman and Chief Executive of PepsiCo, talks to Lesley Curwen about how the rising oil price is affecting her business, and about how her grandfather influenced her. And it's fashion season in Europe, with London Fashion Week ending and the Milan shows beginning. The Â鶹Éç's Vincent Dowd meets designers Christopher Raeburn and Yang Du, and Caroline Rush of the British Fashion Council.