California has rejected President Obama's offer to extend canceled health insurance policies. The board that oversees the state's health insurance marketplace voted unanimously Thursday to let canceled policies expire. The board said it didn't want to confuse consumers and disrupt the state's surge in enrollment.
The Treasury Department announced on Thursday that the U.S. government will sell its remaining 31 million shares in GM by the end of the year. The government received the stock when it bailed out GM during the financial crisis.
Phil's Crummy Corner, a bar in Brooklyn, announced it is raising its drinking age to 25. The restaurant manager told local news site DNA Info that the age limit will only be in place on weekend nights. It's an attempt to keep out loud and rowdy late night crowds.
Consumer advocates are hailing a decision by federal regulators to crack down on so called deposit advances — a type of payday loan offered by some banks. Going forward, banks will not be allowed to let their customers take deposit advances more than once a month, or take them in consecutive months.
Gavin Andresen is chief scientist at the Bitcoin Foundation. I first talked with him about Bitcoin, the virtual currency, back in 2011. I checked back in with him this week, because so much has been going on with Bitcoin lately.
The Federal Communications Commission is proposing a change to allow travelers to make phone calls as they fly on jetliners in the U.S. The agency's new chairman, Tom Wheeler, calls the current ban on the use of cellphones during flights "outdated and restrictive."
Here's a statement from Wheeler that was released Thursday:
The Dow Jones industrial average tacked on 109 points Thursday for a gain of less than 1 percent. But the small rise brought a big milestone, as the industrial index closed above 16,000 for the first time in its history. The index had touched the mark earlier this week but fell short by the day's end.
Today, the Dow closed at 16,009.99.
The historic moment for the benchmark index that tracks 30 leading U.S. companies came on a day that began with positive economic news.