After the downgrade of Treasury Bonds by Standard & Poor's, consumers might be less likely to buy a home, car or other big ticket item if they believe the economy is going south.
But even as the market suffers through fits and falls, people are visiting car dealers. On a recent day, Jack Myers was trading in his gigantic, black 2002 Chevy pickup at a dealership in southeast Michigan.
"Well this [truck] is eating gas," Myers said, "and we [want] something more economical. We're purchasing a hybrid."
U.S. stock benchmarks took another big hit Monday, in the first day of trading since America's credit was downgraded by Standard and Poor's rating agency late Friday. The Dow Jones Industrial index closed below the 11,000 mark for the first time since late 2010, ending the day at 10,811.
The Standard and Poor's 500 Index, meant to reflect the U.S. domestic economy, sank by 6.7 percent Monday. According to Bloomberg, all 500 of the stocks in the index declined on the same day — something that hadn't happened since at least 1996.
The Obama administration is giving school districts a waiver from some mandates of the No Child Left Behind education law.
The law requires schools to reach higher goals each year, and by 2014, it demands that every student be graded proficient in reading and math. The administration, which has repeatedly called on Congress to rewrite the legislation, says the law is overly punitive.
In an announcement on Monday, Education Secretary Arne Duncan opened the door for states to avoid the penalties and deadlines of the current No Child Left Behind Law.
Cars and buildings were burning and stores were looted in areas across London Monday, on the third night of riots and violence in the British capital. "Area is an absolute war zone," pub manager Alan McCabe told the BBC in Croydon.
Prime Minister David Cameron is returning early from his summer vacation to help get the riots under control. He will meet with police and Home Office officials Tuesday, part of his "COBRA" emergency response team. The group takes its name from the Cabinet Office Briefing Room in which it meets.
Even though rising cigarette prices and new restrictions on smoking in public places have helped to make a dent in smoking rates in the U.S., there are still plenty of heavily addicted smokers out there who remain at great risk of developing cancer from their habit.
Two of the seven people killed by a gunman Sunday morning just west of Akron, Ohio, were residents of Northern Kentucky. Craig Dieter, 51, and his son, Scott Dieter, 11, both of Walton, were shot to death in Copley Township, Ohio. Craig’s wife and Scott’s mother, Beth Dieter, was unharmed, but witnessed the shooting, according to the Rev. Chris Torrey.
‘Energy conservation’ is a primary feature in the University of Kentucky’s Davis Marksbury building. The structure, part of UK’s College of Engineering, is the first building on the Lexington campus to receive a LEED (LEAD) certification. LEED or Leadership in Energy and Environment Design is considered the standard rating system for the most energy efficient buildings.