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The Dow Jones Industrial Average closed the week on a sour note, giving back some of the gains it had made on three straight days in the green.The Dow closed down 915 points — a 4 percent loss — its first drop since Monday. However, the markets remained up for the week, the first week-over-week gain since February.The day of losses came despite the House passage of a .2 trillion stimulus package that the Trump administration hopes can boost the economy amid an economic slowdown caused by the coronavirus. President Donald Trump is expected to sign the bill into law this afternoon. 600

The Boy Scouts of America urged victims to come forward Tuesday as the historic, 110-year-old organization filed for bankruptcy protection in the first step toward creating a huge compensation fund for potentially thousands of men who were molested as youngsters decades ago by scoutmasters or other leaders.The Scouts resorted to Chapter 11 in hopes of surviving a barrage of lawsuits, many of them made possible by recent changes in state laws to allow people to sue over long-ago sexual abuse.Bankruptcy will enable the organization to put those cases on hold for now and continue operating. But ultimately the Boy Scouts could be forced to sell some of their vast property holdings, including campgrounds and hiking trails, to raise money for a victims’ fund that could top billion.The Boy Scouts estimated 1,000 to 5,000 victims will seek compensation.“The BSA encourages victims to come forward to file a claim as the bankruptcy process moves forward,” the organization said in a statement.James Kretschmer of Houston, one of those suing, said he was molested by a Scout leader in the mid-1970s in the Spokane, Washington, area. The bankruptcy, he said, “is a shame because at its core and what it was supposed to be, the Boy Scouts is a beautiful organization.”“But you know, anything can be corrupted,” he added. “And if they’re not going to protect the people that they’ve entrusted with the children, then shut it down and move on.”More than 12,000 boys have been molested by 7,800 abusers since the 1920s, according to Boy Scout files revealed in court papers.Evan Smola said two new victims had already called his law office in Chicago on Tuesday morning, bringing the firm’s total to 319.“The opportunity to tell your story is a cathartic and healing experience,” Smola said. “It’s very painful when they actually do it, but getting it off your chest is a big step.”It will be up to the court to set a deadline for filing claims. The amount of money each victim will receive is likely to depend on what assets are turned over and how many people come forward.The filing in Wilmington, Delaware, sets in motion what could be one of the biggest, most complex bankruptcies ever seen, given the Scouts’ 50-state presence. The organization listed assets of billion to billion and liabilities of 0 million to billion.“We are outraged that there have been times when individuals took advantage of our programs to harm innocent children,” said Roger Mosby, the Boy Scouts’ president and CEO. “While we know nothing can undo the tragic abuse that victims suffered, we believe the Chapter 11 process, with the proposed trust structure, will provide equitable compensation to all victims while maintaining the BSA’s important mission.”The Boy Scouts are the latest major American institution to face a heavy price over sexual abuse. Roman Catholic dioceses across the country and schools such as Penn State and Michigan State have paid out hundreds of millions of dollars in recent years.The bankruptcy represents a painful turn for an organization that has been a pillar of American civic life for generations and a training ground for future leaders. Achieving the rank of Eagle Scout has long been a proud accomplishment that politicians, businessmen, astronauts and others put on their resumes and in their official biographies.“I’m sad for all the victims who were preyed upon by people entrusted with their care. I’m sad that no amount of money will undo their trauma,” said Jackson Cooper, an Eagle Scout who is now a prosecutor in Louisville, Kentucky. “Whatever consequences come for BSA are no concern of mine. I only hope, if they continue to operate, they build robust systems to protect the young people in their care.”The Boy Scouts’ finances have been strained in recent years by declining membership and sex-abuse settlements.The number of youths taking part in scouting has dropped below 2 million, down from a peak of more than 4 million during the 1970s. Its membership rolls took a big hit Jan. 1 when The Church of Jesus Christ of Latter-day Saints cut ties and withdrew more than 400,000 scouts in favor of programs of its own.The financial outlook worsened last year after New York, Arizona, New Jersey and California relaxed their statutes of limitations to make it easier for victims to file claims. Teams of lawyers across the U.S. have been signing up clients by the hundreds to sue the Boy Scouts.Most of the new cases date to the 1960s, ’70s and ’80s, before the Boy Scouts adopted mandatory criminal background checks, abuse-prevention training for all staff and volunteers, and a rule that two or more adult leaders must be present during all activities. Many of the lawsuits accuse the group of negligence and cover-ups.Wayne Perry, a member of the organization’s national board and past president, said Scout families won’t notice any differences as a result of the bankruptcy. He touted the protections now in place for young people.“Today, we are really, really good. Were we always good? No, nobody was good 50 years ago, 40 years ago, 30 years ago,” Perry said.Amid the crush of lawsuits, the Scouts recently mortgaged some of their major properties, including their national headquarters in Irving, Texas, and the 140,000-acre Philmont Ranch in New Mexico.One unanswered question is whether the Boy Scouts’ 261 local councils — and their campgrounds and other assets — will be dragged into the case, even though the Boy Scouts said the councils are legally separate entities and they were not part of the bankruptcy filing.Mike Pfau, a Seattle-based attorney whose firm is representing scores of men nationwide, said the plaintiffs may go after the local councils’ property holdings, too.“We believe the real property held by the local councils may be worth significantly more than the Boy Scouts’ assets,” he said. He said one question will be whether the Boy Scouts transferred property to their local councils to try to put it out of the reach of those suing.Perry said he hopes the court remembers that the Boy Scouts are teaching leadership and life skills to children. “You have to take into account the balancing of the victims, but (also) the fact that the kids today who are joining Scouting had nothing to with those bad behaviors of criminal acts of perpetrators who are long gone,” he said.Plaintiffs’ attorneys trace the Boy Scouts’ fall to 2010, when a jury awarded a former Scout nearly million in a lawsuit in Portland, Oregon. The trial led the Oregon Supreme Court to release 20,000 pages of confidential Boy Scout files on 1,200 people after The Associated Press and other news organizations fought for their disclosure.Until last spring, the organization had insisted it never knowingly allowed a predator to work with youths. But in May, the AP reported that attorneys for abuse victims had identified multiple cases in which known predators were allowed to return to leadership posts. The next day, the Boy Scouts acknowledged the truth.___McCombs reported from Salt Lake City. Associated Press video journalist John Mone also contributed to this story. 7147

The 13-year-old suspect in a crime that's shocked a close-knit college community is not all that much younger than the teenage victim.The boy was arrested in New York in connection with the death of 18-year-old Barnard College freshman Tessa Rane Majors, according to a law enforcement source familiar with the investigation.He was found with a knife and admitted being involved in the attempted robbery and stabbing, the source said Friday. The teen also mentioned two other possible suspects, and police were investigating that lead, the source said."We lost a very special, very talented and very well-loved young woman," Majors' family said Friday in a statement. "Tess shone brightly in this world and our hearts will never be the same."The killing has unsettled students and staff from the Charlottesville, Virginia, boarding school where Majors graduated this year to those at the sprawling, urban Manhattan campus that Barnard shares with Columbia University."Tess was a shining light in our community, a good friend, respected classmate, trusted teammate, and creative and passionate musician," said David Lourie, head of St. Anne's-Belfield School, where counselors were provided for students and alumni."Her death is an immeasurable loss, and we mourn alongside the Majors family and all who knew and loved Tess."Police recommend charges of second-degree murder, first-degree robbery and criminal possession of a weapon against the suspect, the source said. Prosecutors will decide the charges and whether the suspect will be prosecuted as an adult.The suspect was observed by police Thursday in the lobby of a building near the Manhattan neighborhood where the stabbing occurred one day earlier, according to the source. He was wearing clothes matching the description given for the suspect in the Barnard student's killing. He was picked up on suspicion of criminal trespass.Majors, 18, had been walking Wednesday evening through Morningside Park -- at 116th Street and Morningside Drive, just blocks from Barnard's campus -- when police believe she was confronted by between one and three assailants, New York Police Department Chief of Patrol Services Rodney Harrison said.A witness who spoke with the NYPD said Majors was confronted by four or five males in the park, according to a law enforcement official familiar with the investigation.After the attack, she stumbled up a flight of stairs to street level before collapsing at a security booth near campus, the official said. A school security officer called 911."The public safety officer assigned to the guard booth ... was at his post last night when Tessa Majors emerged from the park, and he came to her aid immediately upon recognizing that she was injured," said a statement from Columbia University.Majors' cell phone was found not far from where she fell, and she did not have a purse or wallet with her, the official said. She died at a hospital soon after, New York Mayor Bill de Blasio said.Majors is believed to have been a victim in one of two robbery patterns in the area, according to the source.A pattern of crimes and the police responsePolice officials and de Blasio faced questions Thursday about crimes in and around the park. The NYPD had identified issues and implemented strategies to combat the problem, Harrison said. The department also increased patrols in and around the park and the nearby schools, including Barnard."The idea that a college freshman at Barnard was murdered in cold blood is absolutely not only painful to me as a parent, it's terrifying to think that that could happen anywhere," de Blasio said at the news conference."It's unbelievable to me that that could happen here, next to one of our great college campuses," he added. "It's an unacceptable reality."The city has offered Barnard College any help it needs, and it's sending mental health professionals to help students deal with the news, de Blasio said."This is an unthinkable tragedy that has shaken us to our core. Please know that we are all grieving together and I am thinking of you as we process this awful news as a community," Barnard College President Sian Leah Beilock said, adding that Barnard's public safety department provides 24/7 escort service for students.'A personality no one could ever copy'Majors' family is en route to New York City, Beilock said."Tessa was just beginning her journey at Barnard and in life. We mourn this devastating murder of an extraordinary young woman and member of our community," she added.People who commented on Majors' Instagram page and spoke to CNN described her as a kind young woman and devoted musician."She was one of the sweetest people I know. She had a kind heart," Lydia Pickering told CNN. As kids, she and Majors lived two houses away from one another in Waynesboro, Virginia, Pickering said. Majors was like an older sister, she told CNN."I can't even begin to explain the impact she had on me," Pickering said. "She brought joy wherever she went. She had a personality no one could ever copy, she was really just special."Lexi Phelan, who met Majors this year at Barnard, shared two classes with her."Anyone who was lucky enough to meet her would agree that she was a good, kind person," Phelan said. "Her personality put others at ease and she lit up any room she was in with her passion."Barnard College is an all-women's school in Manhattan with more than 2,600 students. The school's campus stretches from west 116th Street to west 120th Street off Broadway in the Morningside Heights neighborhood of New York City."The close-knit community at Barnard College is in shock right now," de Blasio said in a tweet. "We've lost a young woman full of potential in a senseless act of violence. I want every student and every member of faculty to know your city will be with you in the days ahead." 5844

The Federal Reserve on Wednesday voted to raise interest rates despite new signs of economic softening and weeks of market volatility.Central bankers unanimously agreed under Chairman Jerome Powell to lift the federal funds rate, which controls the cost of mortgages, credit cards and other borrowing, to a range of 2.25% and 2.5%.Interest rates have increased seven times since President Donald Trump took office. Four of those increases have been under Powell.The policy decision comes even as Trump called on the Fed to move cautiously "before they make yet another mistake," shortly before policy makers began their two-day policy-setting meeting in Washington on Tuesday. 688

The Department of Justice announced indictments on Wednesday against four executives who were allegedly involved in a conspiracy to fix prices and rig bids for broiler chickens. Jayson Penn, Roger Austin, Mikell Fries, and Scott Brady were each charged with one antitrust charge in federal court. Penn is the President and Chief Executive Officer, and Austin is a former Vice President, of Pilgrim’s Pride, a chicken supplier headquartered in Colorado. Fries is the President and a member of the board, and Brady is a Vice President, of Claxton Poultry, a broiler chicken producer headquartered in Georgia.According to Pilgrim’s Pride, it provides 20% of all chicken consumed in the United States. Claxton Poultry says it produces 300 million pounds of poultry a year, and is a supplier for Chick-fil-A. The DOJ alleges that the foursome's actions caused chicken prices at restaurants and grocery stores to be impacted. “Particularly in times of global crisis, the division remains committed to prosecuting crimes intended to raise the prices Americans pay for food,” said Assistant Attorney General Makan Delrahim of the Department of Justice’s Antitrust Division. “Executives who cheat American consumers, restauranteurs, and grocers, and compromise the integrity of our food supply, will be held responsible for their actions.”The executives face a maximum sentence of 10 years, and a million fine, if convicted. Broiler chickens are chickens raised for human consumption and sold to grocers and restaurants. A request for comment has been left for Pilgrim’s Pride. 1584