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President briefs Congress... Stocks rise on Fed news... GM CEO confronted at hearing

By The Associated Press | Posted - Jun. 18, 2014 at 3:42 p.m.



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WASHINGTON (AP) — President Barack Obama has briefed leaders of Congress on options for quelling an al-Qaida-inspired insurgency in Iraq. White House officials say Obama has made no decisions about how to respond to the crumbling security situation in Iraq. They cast his meeting with lawmakers as part of an effort to consult with Capitol Hill.

NEW YORK (AP) — Stocks closed higher after the Federal Reserve said the U.S. economy was doing well enough for the central bank to make further reductions to its stimulus program. It was the fourth straight gain for stocks and another record-high close for the Standard & Poor's 500 index. The S&P rose 15 points. The Dow added 98 points. The Nasdaq composite gained 25 points.

WASHINGTON (AP) — Lawmakers expressed disbelief at General Motors' explanation for why it took 11 years to recall millions of small cars with defective ignition switches. During a House subcommittee hearing, CEO Mary Barra was confronted with evidence that the company had dragged its feet on a similar safety issue in different vehicles.

RIO DE JANEIRO (AP) — Defending champion Spain, the dominant global football power for the past six years, has been eliminated from World Cup contention with a 2-0 loss to Chile. Spain's famed passing game failed against a high-tempo, determined Chile team. Spain's second loss, after a 5-1 rout by the Netherlands, ended any hope of advancing.

WEST PALM BEACH, Fla. (AP) — Author Daniel Keyes, whose "Flowers for Algernon" became a classroom staple, has died. First published as a short story in 1959, and later as a novel, "Algernon" is a series of journal entries by a low-IQ laborer named Charlie Gordon who participates in an experiment that triples his intelligence -- until the experiment begins to fail. Daniel Keyes was 86.

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The Associated Press

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