US oil prices plunged Tuesday as poor manufacturing data in China, the world's largest energy consumer, hammered the outlook for demand and shook market confidence. China's key manufacturing sector shrank in August, according to official data released earlier in the day.
Los Angeles leaders on Tuesday gave unanimous backing to the city's bid for the 2024 Olympics, paving the way for it to enter the race for the Games. The USOC is expected to forward Los Angeles -- who have hosted the Games on two previous occasions in 1932 and 1984 -- as a candidate for the 2024 race imminently. "We are telling the world that we are Los Angeles and we are here to compete," Los Angeles City Council President Herb Wesson told members during Tuesday's hearing.