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US stock market down again ... CBO warns huge deficits could resurface ... US-China-Coal Industry

By The Associated Press | Posted - Aug. 25, 2015 at 3:31 p.m.

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NEW YORK (AP) — The U.S. stock market couldn't climb out of the doldrums today, even though trading got off to a good start. Stocks evaporated in the minutes before the closing bell, sending the Dow Jones industrial average down more than 200 points. It also extended Wall Street's losing streak to six days. The Dow ended the day with a loss of 204.91 points, or 1.3 percent, at 15,666.44. The Standard & Poor's 500 index fell 25.59 points, or 1.4 percent, to 1,867.62. The Nasdaq composite declined 19.76 points, or 0.4 percent, to 4,506.49.

WASHINGTON (AP) — Congress' official budget analyst is projecting a federal deficit for this year of $426 billion. That's a substantial drop since the March forecast and the lowest shortfall of Barack Obama's presidency. But the nonpartisan Congressional Budget Office also warned today that without action by lawmakers, federal deficits will start rising again in the next several years, spiking back above $1 trillion in 2025.

BILLINGS, Mont. (AP) — U.S. and Chinese officials are working on an agreement to advance "clean coal" technologies that purport to reduce the fuel's contribution to climate change — and offer a potential lifeline for an industry that's seen its fortunes fade. U.S. Department of Energy Assistant Secretary Christopher Smith said today at a conference in Montana that the agreement emphasizes collaboration on technologies to capture greenhouse gases produced from burning coal.

LOS ANGELES (AP) — A former J.P. Morgan Securities analyst in San Francisco was arrested today on charges of running an insider trading scheme that netted more than $600,000. Twenty-seven-year-old Ashish Aggarwal of San Francisco and two Los Angeles friends surrendered to the FBI after a federal grand jury in Los Angeles indicted each of them on 30 counts of conspiracy, securities fraud, tender offer fraud and wire fraud. That's according to the U.S. attorney's office in Los Angeles.

TUCSON, Ariz. (AP) — Uber is partnering with the University of Arizona to develop mapping technology as the ride-hailing company expands its research of driverless car technology. The partnership announced today between the San Francisco-based company and the university includes a $25,000 grant to UofA's College of Optical Sciences. Uber will also test its self-driving vehicles on Tucson streets.

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The Associated Press


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