Keeping the economy in balance

April 29, 2014 - Daily News Briefing

Every silver lining in economics seems to come with a cloud.

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The most powerful tornado this year carved an 80-mile path of destruction through the suburbs of Little Rock, Ark., killing at least 14 people. Emergency officials began to pick through the rubble Monday to look for survivors. The twister that touched down around 7 p.m. Sunday about 10 miles west of Little Rock grew to be half a mile wide.

The mayor of Ukraine’s second-largest city was shot in the back Monday and pro-Russia insurgents seized yet another government building as tensions rose in eastern Ukraine ahead of a new round of US sanctions. Armed insurgents tacitly backed by Moscow are seeking more autonomy in the region. Ukraine’s acting government and the West have accused Russia of orchestrating the unrest, which they fear Moscow could use as a pretext for an invasion. Last month, Russia annexed Crimea weeks after seizing control of the Black Sea peninsula.

The aerial search for the missing Malaysia Airlines jet was called off Monday, and the underwater hunt will be expanded to include a vast swath of ocean floor that may take at least eight months to thoroughly search, Australian officials said.

The International Monetary Fund raised its economic growth forecast for China on Monday but warned that its financial system faces risks due to the rapid expansion of debt. The IMF’s 0.3 percentage point increase to 7.5 percent in its growth outlook for China may help reassure investors who worry the world’s second-largest economy might be slowing too abruptly.

An Egyptian judge sentenced to death the Muslim Brotherhood’s spiritual leader and 682 other people Monday in the latest in a series of high-stakes mass trials that have been unprecedented in scope, drawing sharp condemnation from international rights groups.

US Rep. Michael Grimm, a former Marine and FBI agent who’s been the target a campaign-finance investigation, was instead charged on Monday with evading taxes by concealing more than $1 million in sales and wages while running a small Manhattan restaurant – a case he called a political witch hunt meant to drive him out of office. Grimm surrendered to FBI agents early Monday.

Advertisers are backing away from the Los Angeles Clippers after racist comments attributed to the NBA team’s owner. Used car dealership chain CarMax, airline Virgin America, and the Chumash Casino Resort said Monday that they are ending their sponsorships of the Clippers in the wake of comments allegedly made by the team’s owner, Donald Sterling.

US public high schools have reached a milestone, an 80 percent graduation rate. Yet that still means 1 of every 5 students walks away without a diploma. Citing the progress, researchers are projecting a 90 percent national graduation rate by 2020.Their report, based on Education Department statistics from 2012, was presented Monday at the Building a GradNation Summit in Washington.

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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