In our Thursday news wrap, the Trump administration wants to roll back Obama-era mandates that require coal-burning plants to install new technology or burn natural gas, which gives off less carbon. The proposal is the latest in a series of steps to relax emissions rules. Also, the Senate today confirmed Kathy Kraninger as director of the Consumer Financial Protection Bureau.
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In the day's other news: Wall Street took a wild ride. It started with a sell-off, as the arrest of a Chinese tech executive sparked doubts about a possible trade deal with China. Then came a rally on reports that the Federal Reserve might hold off raising interest rates.
The Dow Jones industrial average lost 79 points, after being down 770 earlier. It closed at 24947. The Nasdaq rose 29 points, and the S&P 500 slipped four.
We will take a closer look at the tensions with China after the news summary.
The Trump administration today called for rolling back Obama era mandates that make new coal-burning plants emit less carbon. The Obama rules require plants to install new technology or burn natural gas, which gives off less carbon. The Trump proposal could ease the way for building more coal-burning plants. It's the latest in a series of steps to relax emissions rules.
In Australia, an appeals court overturned a former Catholic archbishop's conviction for concealing child sexual abuse. The court ruled prosecutors failed to prove that Philip Wilson covered up crimes by a pedophile priest in the 1970s. He had been the highest-ranking Catholic cleric to be found guilty in the long-running international scandal.
Abuse victims said their fight is not over.
Those people have stood up to the might and the money of the Catholic Church, and they have been deeply hurt by this decision. So, I feel terribly for them.
If the Catholic Church thinks that people like me and lots and lots of other survivors of child abuse are going to be set back by this, then we have got news for them, because I'm not going anywhere.
Wilson is 68 years old. He had already served four months of a year-long sentence in home detention.
At least one U.S. Marine is dead, and five missing after two military planes crashed off Japan early today. The Marine Corps says the fighter jet and the refueling tanker collided some 200 miles from Hiroshima during night-time training. One crew member survived. Search-and-rescue operations continue for the missing.
Back in this country, a new round of rain and snow hit Southern California. Near Los Angeles, a Southwest Airlines plane skidded off a runway amid heavy rain. No one was injured. The storm also triggered flooding and mudslides in the Los Angeles area, snarling traffic northwest of the city. Snow forced the closure of Interstate 5, where cars and trucks sat in standstill traffic.
The U.S. Senate today confirmed White House budget official Kathy Kraninger to run the Consumer Financial Protection Bureau. The vote was 50-49, after a six-month battle. Democrats criticized Kraninger's lack of experience in financial services, but banking groups applauded the outcome. The Trump administration has worked to scale back the CFPB's enforcement efforts.
And Congress has passed a two-week spending bill to prevent a partial government shutdown tonight. President Trump already promised to sign the bill. He has also warned he may force a shutdown if a longer-term spending package fails to fund a border wall.