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The Colorado marijuana industry has now resulted in more than billion in revenue for the state, the Colorado Department of Revenue announced this week.Revenue from marijuana taxes, licenses and fees hit just over .02 billion, according to the department's latest monthly report. 296
The Federal Reserve cut interest rates for the third time this year as the US economy continued slowing amid ongoing trade disputes and weak global growth.The federal funds rate, which affects the cost of mortgages, credit cards and other borrowing, will now hover between 1.5% and 1.75%.It isn't clear whether the move will be enough to head off another rate cut in December, the final meeting of the year. Federal Reserve chairman Jerome Powell is set to speak at a press conference later Wednesday afternoon. 523
The judge presiding over the historic Oklahoma opioid trial will deliver his ruling Monday afternoon -- a decision that could have sweeping implications as other states and communities try to hold pharmaceutical companies responsible for the opioid epidemic that has killed hundreds of thousands of Americans since 2000.The state has accused Johnson & Johnson and its subsidiary, Janssen Pharmaceuticals, of creating a public nuisance that cost the state billions of dollars and destroyed thousands of lives. Johnson & Johnson has denied any wrongdoing and said it has been made a "scapegoat."Cleveland County District Judge Thad Balkman will issue his decision at 3 p.m. (4 p.m. ET) in his courtroom in the college town of Norman.It is the first state trial attempting to hold a pharmaceutical company accountable for one of the worst epidemics in history. The state has asked for nearly .2 billion to fix the epidemic 943
The Dow hit 27,000 points for the first time ever on Thursday, as stocks climb higher on hopes of an interest rate cut later this month.Federal Reserve Chairman Jerome Powell shored up rate cut hopes with his testimony before the Senate Banking Committee Thursday and House Financial Services Committee Wednesday.The Dow rose to a fresh all-time intraday high before pulling back slightly. It is up 0.4% or 111 points.The S&P 500 is up a modest 0.1%. 466
The Erie County Sheriff's Office in Ohio have arrested a man accused of escaping a police cruiser after allegedly having sex in a hot tub. According to a police report, deputies responded to Kalahari Resorts around 8:15 p.m. Tuesday after a lifeguard reportedly caught a man and woman allegedly having intercourse in a hot tub.Security told deputies Kamden Mack, 25, became "irate" after being confronted by the lifeguard. Mack told deputies he did not know why security was evicting him, then swore at security officers, according to a report. Mack and the woman, Taylor Coats, 22, denied the accusations. Mack and Coats were told by deputies to gather their belongings and leave the property, according to the report. Sheriff's deputies left the pair with security and were getting to ready leave when they were informed that Mack and Coats tried running from security officers. Security officers captured Mack and held him on the ground when deputies arrived, according to the report. Deputies had to pull Mack into the back of a cruiser after he allegedly refused to go inside. After Mack was in the cruiser, one deputy attempted to locate Coats, while the other stayed with Mack. At this time, Mack was able to open the passenger door and started running toward the convention center, according to the report. Deputies eventually caught up to Mack and tackled him to the ground. He was then placed inside of a patrol vehicle with a working safety lock. Deputies arrested Coats after security found her in her hotel room. Mack was charged with felony escape, misdemeanor persistent disorderly conduct and criminal trespassing. Coats was charged with misdemeanor persistent disorderly conduct and criminal trespassing. 1734