East Coast snowstorms slowing economic activity

The United States Federal Reserve released a report today which suggests that severe snowstorms along the east coast have slowed economic activity for the first three months of 2010.

The Beige Book Survey shows that the U.S. economy is not improving at a fast enough pace to persuade companies to hire more employees.

According to Syracuse.com, economists predict that the economy will grow at a pace of about 3 percent until the end of March. 

Even though the economy went through a growth spurt in late 2009, the unemployment rate as of now stands at around 9.7 percent.

Quake hits southern Taiwan

The U.S. Geological Survey recorded a 6.4 magnitude earthquake in southern Taiwain early Thursday morning, according to CNN.com.

The initial earthquake struck at about 8:20 a.m. local time in a mountainous region roughly 20 miles northwest of Taitung.

There were no initial reports of injuries or deaths, but southern Taiwain reported building damage and blackouts.  Residents in the capital city, Taipei, felt tremors from 155 miles away.

Sex offender pleads 'not guilty' in Chelsea King case

A California man charged with the rape and murder of 17-year-old Chelsea King has pleaded not guilty.

The San Diego County district attorney's office said the charges brough against John Albert Gardner III, 30, of Lake Elsinore, CA, make him eligible for the death penalty.

According to CNN.com Searchers found what they believe to be King's body on Tuesday, but San Diego County Sheriff William Gore says officials are still waiting for positive identification of the body,

Gardner, who will not be allowed to post bail, is scheduled for a status hearing in court next Tuesday.