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The Temple University Board of Trustees decided Friday to rescind the honorary degree it gave to Bill Cosby, one of its most famous alums and a former trustee.In a three-sentence statement, the university said the decision was due to his conviction Thursday on three counts of aggravated indecent assault."In 1991, based on his career achievements, Temple awarded an honorary degree to William Cosby," the statement said. "Yesterday, Dr. Cosby was found guilty by a jury of the felony of aggravated sexual assault. Today the Temple University Board of Trustees has accepted the recommendation of the University to rescind the honorary degree."Cosby graduated from Temple and had been on the Board of Trustees for 32 years until he resigned in 2014 amid accusations that he sexually assaulted dozens of women over decades."I have always been proud of my association with Temple University," Cosby said in a statement released by the university at the time. "I have always wanted to do what would be in the best interests of the university and its students. As a result, I have tendered my resignation from the Temple University Board of Trustees."Through his powerful role at Temple, he met Andrea Constand, who worked for the university's women's basketball team. Cosby was found guilty of drugging and assaulting Constand at his home outside Philadelphia in January 2004.The-CNN-Wire 1392

The United Nations Security Council unanimously adopted a US-drafted resolution to impose new sanctions on North Korea on Monday --- a move that comes just one week after the rogue nation carried out its sixth and largest nuclear test.The resolution is designed to accomplish six major goals: cap North Korea's oil imports, ban textile exports, end additional overseas laborer contracts, suppress smuggling efforts, stop joint ventures with other nations and sanction designated North Korean government entities, according to a US official familiar with negotiations.On Monday, the US?circulated a draft resolution that called for a full ban on exports of oil to North Korea and an asset freeze?on leader Kim Jong Un, the Worker's Party and the government of North Korea.But later in the day, the US put forward another draft that removed the full oil embargo, asset freeze, travel ban for Kim and softened the language on foreign workers and other issues. 974

The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435

The U.S. economy added 250,000 jobs in October, significantly exceeding expectations, the government announced Friday.The unemployment rate remained at 3.7 percent, a 49-year low. Wages grew 3.1 percent, strong growth after years of stagnant paychecks.The number will likely serve as a talking point for President Donald Trump and Congressional Republicans as they make closing arguments before the midterm elections next Tuesday.The year-over-year percentage growth in average hourly earnings looks larger than it actually is because wages declined last October as low-wage workers returned to their jobs following a particularly strong hurricane season. Month to month, hourly earnings increased by only five cents, a modest increase. 744

The United States and North Korea have been holding secret, direct talks to prepare for a summit between President Donald Trump and North Korea leader Kim Jong Un, a sign that planning for the highly anticipated meeting is progressing, several administration officials familiar with the discussions tell CNN.Central Intelligence Agency Director Mike Pompeo and a team at the CIA have been working through intelligence back-channels to make preparations for the summit, the officials said. American and North Korean intelligence officials have spoken several times and have even met in a third country, with a focus on nailing down a location for the talks.Although the North Korean regime has not publicly declared its invitation by Kim Jong Un to meet with Trump, which was conveyed last month by a South Korean envoy, several officials say North Korea has since acknowledged Trump's acceptance, and Pyongyang has reaffirmed Kim is willing to discuss the denuclearization of the Korean peninsula. 1005