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The state of Michigan has agreed on a 0 million settlement in lawsuits regarding the Flint Water Crisis, Attorney General Dana Nessel announced Thursday.The settlement will be given to parties who claim they were affected by the city of Flint's 2014 transition of its public water supply to the Flint River; the majority of the money will be going to settle claims filed on behalf of children.The settlement was reached by the state parties and legal counsel after 18 months of negotiations.“Providing relief for the people of Flint and resolving these long-standing legal disputes has been a top priority for me since taking office,” Nessel said in a press release. “Flint residents have endured more than most, and to draw out the legal back-and-forth even longer would have achieved nothing but continued hardship. This settlement focuses on the children and the future of Flint, and the State will do all it can to make this a step forward in the healing process for one of Michigan’s most resilient cities. Ultimately, by reaching this agreement, I hope we can begin the process of closing one of the most difficult chapters in our State’s history and writing a new one that starts with a government that works on behalf of all of its people.”The preliminary agreement specifies that about 80 percent of the net settlement fund will be spent on claims of children who were minors when first exposed to the Flint River water, with a large majority of that amount to be paid for claims of children age 6 and younger, and earmarking 2 percent to go to special education services in Genesee County. Another 18 percent of the net settlement funds are to be spent on claims of adults and for property damage. Roughly 1 percent will go toward claims for business losses.If the settlement receives final court approval, it is likely to be the largest in Michigan state government history, affecting tens of thousands of people and resolving more than a hundred cases in state and federal trial and appellate courts."Protecting all Michiganders and their access to clean water is a priority for my administration to make sure nothing like this ever happens again," Governor Gretchen Whitmer said in a press release. "What happened in Flint should have never happened, and financial compensation with this settlement is just one of the many ways we can continue to show our support for the city of Flint and its families.""We acknowledge that this settlement may not completely provide all that Flint needs, and that many will still feel justifiable frustration with a system and structure that at times is not adequate to fully address what has happened to people in Flint over the last six years. We hear and respect those voices and understand that healing Flint will take a long time, but our ongoing efforts and today’s settlement announcement are important steps in helping all of us move forward."View a summary of the settlement below:Terms of Settlement 699810 7 by WXYZ-TV Channel 7 Detroit on Scribd This story was first reported by WXYZ in Detroit, Michigan. 3079

The Wall Street roller coaster started to climb again.The Dow closed up 401 points, or 1.6%, on Thursday. The broader S&P 500 gained 1.9% and the Nasdaq surged 3%, its best day since March. Stocks bounced back after a sharp drop Wednesday that sent the Nasdaq into a correction.The market has slumped badly in the past several weeks, but it hasn't fallen in a straight line. Volatility is spiking, and huge sell-offs have been interspersed with big gains, including October 16's 548-point jump for the Dow and October 12's 287-point gain.Still, the back and forth has been heaviest in one direction: down. The S&P 500 was less than a percentage point drop away from entering a correction Wednesday. Investors had been looking for strong corporate earnings to drag stocks out of the doldrums, but earnings have disappointed this quarter. That gave already nervous investors more anxiety."No matter how good the report or how positive the guidance, investors are looking for the exits," said Justin Walters, cofounder of Bespoke Investment Group, in a note to investors Thursday. "Companies that are reporting earnings this season are getting slaughtered."The average stock has fallen 2% the day after reporting earnings this quarter -- the worst performance of the 21st century, according to Walters.Concerns about rising rates and the trade war have spooked the markets this month. The S&P 500 has fallen 7% in October. And the Nasdaq is down 9%, on track for its worst month since November 2008. Only 13% of stocks are trading above their 50-day moving averages, evidence that Walters believes suggests stocks have been oversold.Investors agreed on Thursday at least. They saw a buying opportunity, particularly in tech.All of the FAANG stocks were up more than 2%. Amazon led the pack, up 7%.Twitter (TWTR) spiked 16% after reporting higher profit and more engaged customers despite losing users overall. Netflix (NFLX) rebounded after plummeting 9% Wednesday. Microsoft (MSFT) rose about 6% after reporting strong earnings the night before.Tesla (TSLA) was up 9%. The company reported by far its most profitable quarter in history late Wednesday, lessening concerns of a looming cash crunch that had been weighing on shares.Tech will be tested again later on Thursday: Alphabet, Amazon (AMZN), Snap (SNAP) and Intel (INTC) all will post their quarterly financial report after the bell.Southwest (LUV) fell 9% after reporting higher oil prices would pinch profit in the future. But American Airlines (AAL) rose 7% following strong earnings Thursday morning.The Dow tumbled more than 600 points on Wednesday, and the Nasdaq lost 4%, its worst one-day percentage drop in more than seven years. 2768

The United States and China are acting tough over trade, but they're also busy talking to try to stop the situation spiraling out of control.President Donald Trump ramped up tensions last week by ordering tariffs on about billion worth of Chinese goods just weeks after announcing of sanctions on steel and aluminum imports. Beijing has responded with plans to target billion worth of US products and warnings that it's ready to inflict more pain.The moves have fueled fears that the situation could escalate into a full-blown trade war between the world's two largest economies. But Treasury Secretary Steven Mnuchin said Sunday that he's been talking to Chinese officials in an effort to prevent that."We're not afraid of a trade war, but that's not our objective," he said in an interview on Fox News."We are going to proceed with our tariffs ... we're also working on investment restrictions," Mnuchin said. "But we are simultaneously having negotiations with the Chinese to see if we can reach an agreement."The US government wants China to do a lot more to open up its vast economy to US businesses and bring down the massive trade deficit between the two countries.Trump has set a target of cutting the deficit in goods with China by 0 billion. It soared to 5 billion last year, according to US figures.Mnuchin said the United States wants China to do away with rules that require foreign companies to set up joint ventures with Chinese firms in many industries, such as automobiles, and to stop forcing American businesses to hand over valuable intellectual property in order to operate in China. Intellectual property theft is the reason the Trump administration gave for the planned billion in tariffs on Chinese goods.Mnuchin and US Trade Representative Robert Lighthizer detailed the US requests in a letter to a top Chinese economic official late last week, according to the Wall Street Journal. They included asking Beijing to reduce tariffs on American cars, increase spending on US semiconductors and provide greater access to the Chinese financial sector, the Journal reported, citing unidentified people with knowledge of the matter.A Treasury Department spokesperson declined to confirm the report."We are having very productive conversations with them," Mnuchin told Fox, adding that he was "cautiously hopeful" that the two sides could reach a deal. But in the absence of "an acceptable agreement that the president signs off on," the Trump administration will press ahead with the tariffs and other measures, he warned.China's point man for the talks is Liu He, a Harvard graduate who is one of President Xi Jinping's most trusted advisers. Liu was in Washington for talks with US officials the week that Trump announced plans for the tariffs on steel and aluminum and was recently appointed to the position of vice premier.Mnuchin and Liu spoke as recently as this weekend."Secretary Mnuchin called Liu He to congratulate him on the official announcement of his new role," the Treasury spokesperson said. "They also discussed the trade deficit between our two countries and committed to continuing the dialogue to find a mutually agreeable way to reduce it."China's official news agency Xinhua also reported the conversation, saying that Liu criticized the US allegations of Chinese intellectual property theft and warned Mnuchin that China "has the capability to safeguard its national interest."But Liu also said that China "hopes to see both sides remain sensible and work together to preserve the overall stability of China-US trade relations," according to the Xinhua report.Some experts are skeptical that Beijing will give Trump what he wants."China may be able to come up with some big ticket imports to allow it to appear to be trying to reduce the bilateral trade imbalance," Mark Williams, chief Asia economist at research firm Capital Economics, wrote in a note to clients on Friday. "But China won't be able to reduce the annual imbalance by 0bn as Mr Trump has demanded."And "the chances of China making substantive changes to its practices on intellectual property are also low," Williams said, adding that the practices are seen in Beijing as "a key element" of efforts to develop the Chinese economy.  4274

The United States set another record for daily confirmed coronavirus cases as several states posted all-time highs, underscoring the vexing issue confronting President Donald Trump or Joe Biden as a perilous pandemic surges with the holidays and winter approaching. The surging cases and hospitalizations happening around the country reflect the challenge that the winner of the too-early-to-call presidential race will face in the coming months.According to the New York Times, 1,130 coronavirus-related deaths were reported on Tuesday. The average number of deaths, while increasing, is not increasing at the same rate as cases. According to a Harvard risk assessment map, 26 states are are the highest alert level where 25 cases per day per 100,000 people. The states are mostly located in the central US. The map shows that North and South Dakota are experiencing the most widespread cases of the coronavirus. 921

The Supreme Court Monday rebuffed efforts by states to block funding to Planned Parenthood.It left in place two lower court opinions that said that states violate federal law when they terminate Medicaid contracts with Planned Parenthood affiliates who offer preventive care for low income women.It would have taken four justices to agree to hear the issue, and only three conservative justices -- Clarence Thomas, Samuel Alito and Neil Gorsuch -- voted to hear the case.Chief Justice John Roberts and Justice Brett Kavanaugh appeared to side with the court's liberals in not taking up the case -- showing an effort to avoid high-profile abortion-related issues for now.Roberts and Kavanaugh "likely have serious objections," said Steve Vladeck, CNN Supreme Court analyst and professor at the University of Texas School of Law. "But such votes seem to be a signal that they would rather avoid contentious, high-profile disputes for now, at least where possible."The case concerned whether states can block Medicaid funds from Planned Parenthood affiliates that provide such women with annual health screens, contraceptive coverage and cancer screening.Thomas wrote a dissent for the three conservatives, saying the court isn't doing its job."What explains the Court's refusal to do its job here?" Thomas wrote."I suspect it has something to do with the fact that some respondents in these cases are named Planned Parenthood," he wrote."But these cases are not about abortion rights," he said. "They are about private rights of action under the Medicaid Act. Resolving the question presented here would not even affect Planned Parenthood's ability to challenge the states' decisions; it concerns only the rights of individual Medicaid patients to bring their own suits."The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 1873

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