Finally, a stronger outlook for workers

April 11, 2014 - Daily News Briefing

More and more, it looks as if the American economy has turned the corner on the employment front.

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The Nasdaq had its worst day Thursday since 2011 as investors dumped biotechnology shares and other industries that have soared over the past year. The Nasdaq composite index lost 129 points, or 3.1 percent, to close at 4054, its biggest drop since November 2011. The Dow Jones Industrial Average fell 266 points, 1.6 percent, to 16170. The Standard & Poor’s 500 lost 39 points, or 2.1 percent, to 1833.

An Australian aircraft Thursday detected what may be the fifth signal coming from a man-made device deep in the Indian Ocean, adding to hopes that searchers will soon pinpoint the object’s location and send down a robotic vehicle to confirm if it is a black box from the missing Malaysia Airlines jet.

The Israeli government will stop transferring tax money to the Palestinians in retaliation for their recent drive for further United Nations recognition, an Israeli official said Thursday, putting at risk hundreds of millions of dollars needed to run their government. The move marks Israel’s toughest sanction yet since US-brokered peace talks have faltered.

General Motors has placed two engineers on paid leave as an outside attorney investigates why the company took more than a decade to recall hundreds of thousands of small cars for an ignition switch problem. The action was taken after a briefing from a former US attorney whom GM has hired to figure out why the company was so slow to recall the cars.

House Republicans rallied behind a slashing budget blueprint on Thursday, passing a nonbinding but politically imposing measure that promises a balanced federal ledger in 10 years with sweeping budget cuts and termination of health-care coverage under the Affordable Care Act. The 219-to-205 vote on the budget outline takes a mostly symbolic swipe at the government’s chronic deficits. Follow-up legislation to actually implement the cuts isn’t in the offing.

The UN Security Council on Thursday unanimously approved a nearly 12,000-strong UN peacekeeping force for Central African Republic, where mounting violence between Christians and Muslims has brought killings, torture and sexual violence.

A half century after the passage of sweeping civil rights legislation, President Obama declared that he had “lived out the promise” envisioned by Lyndon B. Johnson, the president who championed the push for greater racial equality. Obama spoke at the end of a three-day summit in Austin, Texas, commemorating the landmark law that ended racial discrimination in public places.

After a scathing report by the US Justice Department revealed a troubling and often unjustified pattern of excessive force by the Albuquerque, N.M., Police Department, city officials on Thursday committed to rebuilding the department under the guidance of federal officials who have been working on similar problems in other cities around the country.

Compiled from wire service reports

“The object of the Monitor is to injure no man, but to bless all mankind.” – Mary Baker Eddy

The Daily News Briefing is published Monday through Friday by The Christian Science Publishing Society in Boston, Massachusetts.

Compiled from wire service reports

“The object of the Monitor is to injure no man, but to bless all mankind.” – Mary Baker Eddy

The Daily News Briefing is published Monday through Friday by The Christian Science Publishing Society in Boston, Massachusetts.

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