$1 million made available for Georgetown waterfront
GEORGETOWN Gov. Nikki Haley has opened up $1 million in public funds to help rebuild Georgetown’s historic waterfront. Haley issued an executive order Tuesday declaring an emergency for the city and county in relation to the Sept. 25 fire. The order makes available up to $1 million of Community Development Block Grant Program funds held by the state Department of Commerce. Last week, a contractor removed the remaining facades from the fire that raced through the city’s shopping and dining district, gutting seven waterfront buildings and putting 130 people out of work. Nearly 10 families who were living in apartments above the buildings were displaced. The emergency declaration also means affected businesses won’t be charged costs associated with paying out unemployment benefits.
Budget impasse continues to drag stocks down
NEW YORK The stock market closed sharply lower Tuesday as budget gridlock in Washington brings the U.S. closer to a default on its debt. The impasse over the government shutdown and raising the country’s borrowing limit showed no signs of breaking Tuesday. House Republicans have insisted that any temporary funding bill contain concessions on President Barack Obama’s health care law. The Standard & Poor’s 500 index closed down 20 points, or 1.2 percent, to close at 1,655.45. The Dow Jones industrial average was down 159 points, or 1.1 percent, to 14,776.53. The Nasdaq composite fell 75 points, or 2 percent, to 3,694.83, also the largest drop in six weeks.
Tweeter, not Twitter
NEW YORK Tweeter is not Twitter. And it changed its stock symbol Tuesday to avoid any confusion. The bankrupt electronics retailer’s new ticker symbol is “THEGQ.” Its old symbol was “TWTRQ.” That was apparently too similar to “TWTR,” the symbol proposed by the social media company Thursday when it filed plans for its highly anticipated initial public offering. Some confused investors sent Tweeter’s stock up as much as 1,400 percent on Friday before trading was halted.
Google introduces new Chromebook
NEW YORK Google on Tuesday introduced a new, cheap laptop based on its Chrome operating system. Hewlett Packard Co. is making the new HP Chromebook 11, which started selling Tuesday for $279. Unlike Windows and Mac laptops, Chromebooks rely heavily on having a continuous Internet connection to run Google and other online services. Many apps don’t run directly on the device but over the Internet. The price of the Chromebook 11 is in line with most other Chromebooks using Chrome OS, but the new model sports many design features that are usually found on pricier devices. The laptop has plastic frame with no sharp edges or corners. Its display is 11.6-inches measured diagonally.
The Associated Press contributed.