- NYC Mayor Bloomberg Invests $30 Million of His Money to Aid Minority Youth
Mayor Bloomberg has announced plans for a far-reaching program in New York City that will address persistent poverty, incarceration and unemployment among young black and Latino men. The programs, which will target this group starting in middle school, will be funded in part by $30 million from Bloomberg’s foundation and a matching grant from billionaire hedge fund manager George Soros. The remainder of the $130 million budget will be derived from city revenues.
- Stocks Down Over 4% in Global Sell-Off
Stocks around the world fell sharply Thursday on intensifying investor fears about a slowdown in global economic growth and worries about Europe’s ongoing debt crisis, which is centered now on Italy and Spain.
Stock market indexes in the United States and Europe dropped more than 4 percent as Japan intervened to weaken its currency and the European Central Bank began buying bonds to try to calm markets.
At the close, the Standard & Poor’s 500-stock index was down 60.27 points, or 4.78 percent, to 1,200.07. The Dow Jones industrial average was off 512.76 points, or 4.31 percent, to 11,383.68, and the Nasdaq was down 136.68, or 5.08 percent, to 2,556.39.
- Tuskegee Mark 70th Anniversary in Washington, D.C.
America’s first black military pilots are celebrating their 70th anniversary, as nearly 100 veterans of the Tuskegee Air Corps have reunited in Washington, D.C., for their national convention this week.
- FAA Reopens
Senate Majority Leader Harry Reid has announced an agreement to reopen the Federal Aviation Administration, clearing the way for 74,000 government and private-sector workers to return to their jobs.