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The Dow Jones Industrial Average is trading lower on Monday after a stimulus bill proposed by Senate Republicans failed key votes on Sunday and Monday.The Dow closed tumbling 600 points on Monday afternoon. The loss comes after 240
The company that made billions selling the prescription painkiller OxyContin has filed for bankruptcy days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids.The filing late Sunday night in White Plains, New York, was anticipated before and after the tentative deal, which could be worth up to billion over time, was struck.But legal battles still lie ahead for Purdue. About half the states have not signed onto the proposal. Several of them plan to object to the settlement in bankruptcy court and to continue litigation in other courts against members of the Sackler family, which owns the company.The bankruptcy means that Purdue will likely be removed from the first federal opioid trial, scheduled to start in Cleveland on Oct. 21. 819
The amount of volunteer Search and Rescue teams who’ve reported to the command center is remarkable. Plans are being made for overnight and first thing in the morning. Keep Gabriella and her family in your thoughts as the search continues. 254
The earth hasn't stopped rumbling under Southern California since Thursday, when a powerful 6.4-magnitude earthquake rattled Ridgecrest and the surrounding area.The quake was followed by more than 1,400 aftershocks, according to scientists. On Friday, an even stronger quake -- with a magnitude of 7.1 --- rattled the region, leaving residents traumatized, Ridgecrest Mayor Peggy Breeden said Saturday morning."Many of them are sleeping outside tonight," Breeden said. "They're fearful to be in their homes. Many are choosing to just be with their neighbors ... in their sidewalks, in their driveways and some of them are in the streets."There's been an average of one aftershock per minute since Friday's quake in the southern part of the state, according to the 776
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