NEW YORK (AP) — U.S. stocks are skidding Thursday, weighed down by weakness in mining and energy companies as commodities prices fall. Metals including gold and copper slipped to their lowest levels in six years, and oil reached a two-month low. Stocks are heading for their sixth drop in seven days.
NEW YORK/WASHINGTON (Reuters) - The U.S. postal workers union on Thursday endorsed Bernie Sanders in his bid for the White House, delivering a boost to the Vermont senator's underdog campaign against Democratic front-runner Hillary Clinton. The American Postal Workers Union, which represents more than 200,000 postal service workers and retirees, praised Sanders as a champion of workers. It's time for a political revolution," said Mark Dimondstein, president of the union, citing efforts by Sanders to keep post offices and mail facilities open amid budget cuts.
A former Bank of New York Mellon Corp employee was sentenced on Thursday to six months in prison after admitting to illegally making $737,000 trading on tips a friend at Merck & Co Inc supplied him about potential pharmaceutical mergers. David Post, 42, was also ordered by U.S. District Judge Alvin Hellerstein in Manhattan to pay more than $787,600 in fines and forfeit proceeds in light of his guilty plea in October 2014 to charges including securities fraud. Just a month ago, the same judge sentenced Zachary Zwerko, a former senior finance analyst at Merck, who was involved with performing work on potential corporate deals, to 37 months in prison after he likewise pleaded guilty.
With little land left to build on between the Everglades and the Atlantic Ocean, Miami developers are going vertical, converting the city from a sprawling suburbia to a dense metropolis. Dazzling luxury condo towers designed by top architects highlight what some have called the "Manhattanization of Miami." But with the glamor come mounting traffic woes, and politicians and residents are scrambling for long-neglected mass transit solutions. Miami has risen to between 7th and 12th on two U.S. indexes for worst traffic congestion.
U.S. Democratic presidential candidate Hillary Clinton on Thursday proposed a $30 billion plan to help displaced workers in coal-producing areas find new jobs and continue receiving health benefits as the country shifts to using renewable energy and more natural gas. Clinton’s proposals, which also include expanding broadband Internet access and establishing a fund that would award competitive grants to small businesses, begin to detail her pledge to protect and build on President Barack Obama’s Clean Power Plan, which Republicans have criticized as a “war on coal” that will devastate producing regions. Clinton, facing pressure from environmental activists and U.S. Senator Bernie Sanders of Vermont, her chief rival for the Democratic nomination, has tacked left on environmental issues, saying in September she did not support TransCanada's proposed Keystone XL pipeline to let oil flow from Canada to the Gulf of Mexico.