Updated at 5:05 p.m. ET

A day after dropping more than 1,000 points, the Dow rebounded Friday to close up more than 300 points. But the index lost nearly 5 percent for the week as the markets focused on rising interest rates, inflation and ballooning government debt.

During a stop in Rochester on Thursday, Governor Andrew Cuomo committed $50 million in state funding to help redevelop the area along the Genesee River in downtown Rochester.

Speaking at the Joseph A. Floreano Rochester Riverside Convention Center, Cuomo noted that other cities around the U.S. have seen great success in taking advantage of their waterfronts and he wants to see Rochester do the same.

Updated at 4:45 p.m. ET

U.S. stock markets fell sharply Thursday, with the Dow Jones industrial average tumbling 1,033 points, or 4 percent, to 23,860.

Other major stock indexes also dropped Thursday. The S&P 500 fell 101 points, or 3.8 percent, and the Nasdaq index fell 275 points, or 3.9 percent.

With the latest drops, both the Dow and the broader S&P 500 are down more than 10 percent from their peaks on Jan. 26, which constitutes a market correction.

Stop Crying! Tear-Free Onions Are Here

Feb 8, 2018

Using onions to explain away crying is a familiar gag. On The Brady Bunch, housekeeper Alice answers the phone and cries as the caller tells her a sad story. After hanging up she says, "Darn onions," holding up the offending allium. And Rowlf the Dog sang on The Muppet Show, "I never harmed an onion. So why should they make me cry?"

More than a dozen states oppose the Trump administration's proposal to open up nearly the entire U.S. coastline to offshore oil leasing. Federal officials will get public feedback on the plan in Sacramento on Thursday. The Interior Department says it takes local concerns into account — as happened in a recent controversial move with Florida — but states have no direct say, since the leasing would take place in federally controlled waters.

Updated at 4:52 p.m. ET

Senate leaders reached a bipartisan budget agreement to increase military and domestic spending levels for two years, paving the way for the first long-term spending pact since President Trump took office.

The White House and House Speaker Paul Ryan quickly declared support for the pact, helping pave the way for its passage by the end of the week, despite opposition from fiscal hawks and liberal Democrats.

An Ontario County plant that processes cabbage and sauerkraut says it will be closing that facility later this year, impacting 48 people.

GLK Foods, formerly called the Great Lakes Sauerkraut company, has been at that location in Shortsville for a number of years.

GLK president Ryan Downs says they will be consolidating that facility with a plant that they have in Bear Creek, Wisconsin, because of the expansion going on there. Downs says the decision does not “reflect the valued commitment and talent of the Shortsville staff.”

A Japanese farm introduced a new crop this winter: an organic banana with a peel that's thin enough to eat. In a nod to this appealing outer covering, Setsuzo Tanaka, the banana's inventor, has named his creation the Mongee ("mon-gay") banana — which means "incredible banana" in Japanese.

The media company Tronc is selling The Los Angeles Times and The San Diego Union-Tribune to a California-based billionaire doctor for $500 million, the company announced on Wednesday.

The sale also includes "other related community-based publications," and the purchaser, Patrick Soon-Shiong, will assume $90 million in pension liabilities, Tronc says.

Two state lawmakers have introduced a bill to make laundry pods less attractive, and have sent a letter to Procter & Gamble, calling on the company to overhaul its colorful liquid detergent “Tide PODs.”

Assemblywoman Aravella Simotas and Senator Brad Hoylman both have young children at home. They say they worry about the attractiveness of the laundry pods, that are brightly colored green, blue and purple, and in some cases smell just like candy, but if ingested can cause severe internal burns and poisoning.

Pages

U.S. Photonics Hub Coming To Rochester

What does this mean for the economy of the Rochester region?