ECB chief urges faster eurozone budget cuts and bailout move
ECB President Jean-Claude Trichet told euro area parliaments to accelerate spending cuts and approve a new bailout to curb investor fears. He defended temporarily buying bonds on the secondary market to lower yields in Spain and Italy, saying the step protects price stability. Apple briefly overtook Exxon Mobil as the most valuable US company before closing just behind.
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Market indexes and commodities close lower on Tuesday
The Dow fell 429.92 to 11,239.77 while the Nasdaq dropped 124.83 to 2,482.52 and the S&P 500 declined 53.07 to 1,172.53. Treasuries yield 3.57 percent. Corn rose 2.5 cents to 6.89, soybeans fell 11.75 cents to 13.00, wheat advanced 7.15 dollars to 7.63, and oil slipped 2.01 dollars to 79.30.
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Fed pledges near zero rates through mid 2013
Washington Fed unveils two year near zero rate outlook and hints at more stimulus. Stock market surges with a 4 percent Dow gain, S&P 500 up 4.7 percent and Nasdaq up 5.3 percent as, amid volatility, investors digest the policy. Yields on Treasuries fall to record lows while mortgage and consumer loan costs edge lower.
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Man to stand trial on child abuse charges
A Douglas County judge ordered 30 year old Lawrence man Stanley E. Burleson to stand trial on four counts of child abuse and one count of making a criminal threat. Detectives said he used a belt to discipline his girlfriend s two boys ages 14 and 12 on July 6 in Lawrence. The boys required hospital treatment for bruising and other injuries. His trial was set for November 2 with a motion planned to challenge the voluntariness of his confession.
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It Happened on Mass Street 150 Years in Lawrence exhibit
A new Watkins Community Museum of History exhibit opens with an open house from 6 to 8 p m on Thursday. Martha Parker will discuss Civil War era Douglas County at 6 p m and Tom Mach will speak on Quantrill s Raid on Lawrence at 7 p m. The exhibit at 1047 Mass third floor is free.
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Reporter contact information note
Reporter George Diepenbrock can be reached at 832-7144 and followed on Twitter at Twitter.com/lawrencecrime.
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Nine Suspects Arrested in Topeka Murder Case
Taylor and Topeka police announced the arrests of eight suspects from Topeka and Olathe with another sought in the Gibson murder on July 21. Each faces murder and multiple counts including aggravated robbery and conspiracy. Most are charged with burglary and animal cruelty tied to a later home invasion and dog shooting near Topeka. Richey is tied to a youth ranch near Lawrence as last known address.
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