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Colin Jeffery

Colin Jeffery

RANCHO MIRAGE, Calif. (AP) — Another two hours of talks are scheduled today in California between President Barack Obama and Chinese leader Xi Jinping.

They'll wrap up their talks with a range of issues. Obama and Xi met for several hours yesterday evening discussing cyber-espionage and other issues.

Obama says the U.S. and China are in "uncharted waters" as they tackle the contentious issue of cybersecurity.

The two leaders carefully avoided directly accusing each other of spying. But they acknowledged an urgent need to find a common approach to addressing the matter.

U.S. officials cast the more relaxed summit at a California estate as an opportunity for Obama and Xi to hold candid and free-flowing talks on the issues that define the relationship between the two countries, including the economy, climate change and North Korea's nuclear provocations.

Arch Coal to scale back operations at two mines

Saturday, 08 June 2013 08:28 Published in Local News

LOUISVILLE, Ky. (AP) — Arch Coal Incorporated says it will scale back operations at two coal mining complexes in Kentucky and Virginia, trimming the work force by more than 100.

The St. Louis-based company said Friday the cutbacks will affect the Cumberland River and Hazard mining complexes.

Company spokeswoman Kim Link says the decision was due on "ongoing coal market challenges."

She says the curtailed operations will cost about 110 jobs — about 65 of them company positions and the rest contractor jobs not controlled by Arch.

The Cumberland River mining complex is in Letcher County in Kentucky and Wise County in Virginia. The Hazard Mining complex is in Perry County, Kentucky.

Link says those eligible workers who are laid off will be offered severance packages.

She says the two complexes still employ nearly 500 workers.

Investment adviser admits to steal from clients

Saturday, 08 June 2013 08:25 Published in Local News

ST. LOUIS (AP) — A St. Louis-area investment adviser faces up to 40 years in federal prison now that he's admitted pilfering more than $1.8 million from client accounts.

Thirty-four-year-old Greg John Campbell of Ladue pleaded guilty Friday in federal court in St. Louis to two counts of wire fraud.

Authorities say Campbell was working as a Merrill Lynch financial adviser from mid-2006 through October 2011 when he diverted more than $1.4 million from client accounts to his own. One client was 86 years old with dementia.

After going to work for another wealth-management business, authorities say, Campbell stole an additional $360,000 from clients.

Prosecutors say he used the money for a down payment on a home, mortgage payments, lease payments on luxury vehicles, and living expenses.

Sentencing is set for September 10th.

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