Opportunities that lie ahead. Im ali velshi and this is your money. I will not drop this issue until it is settled. Then we have the debt ceiling debate. But there is life after washington induced catastrophe. Frankly, it looks like a pretty good life. If all goes according to plan, 2013 could be a big turn around year for the u. S. The start of a recovery that feels real. Most of it will have very little to do with washington policy though your state and federal government will have to step in to make it happen. Let me explain. First, theres an energy boom under way in the United States right now. Fueled by hydraulic fracturing and by more drilling for oil. Natural gas is currently cheap, abundant and increasingly used not just as a fuel source direct to home and businesses, but as a source for electricity generation. As for oil, you dont need me to explain the value of producing it. Its not about cars and homes, more domestically produced energy will help fuel a resurgence in u. S. M
So, Current Conditions 112. The expectations component 103. 3 in august versus the reuters consensus of 103, so a little bit broader. Ifo has no revisions to the july indices. Lets get a breakdown on this. On the phone from munich, an expert at the Ifo Institute, helped to compile this story. Doctor, good to speak to you. Its been a while. Thanks for joining us this morning. Whats the key takeaway from what this survey says about the state of the German Economy . The strongest increase at this month in the manufacturing industry, and here particularly in the investment good sector, so it looks like that the upturn gets more momentum. How strong would you describe that momentum . Well, we had made the forecast for this year 0. 6, and i think this is something we could reach, so investment is always somewhat lagging behind, and this is now a positive sign that Companies Start investing more. This suggests that the data weve had, broadly speaking, which is improved, is sustainable. Is thi
Markets. The firm did not admit any wrongdoing as part of that settlement. Well talk more about that to come. Liz home prices in the u. S. Continuing to rise. The s p caseshiller index jumping 2. 4 in may. Prices in each of the 20 cities measured rose at least 1. 2 . Prices are now up 12. 2 yearoveryear, not bad. David and were going to talk about cps and Time Warner Cable, theyve agreed to extend their negotiating deadline until 5 p. M. On friday after a short blackout last night of the cbs network in some markets on Time Warner Cable systems. Liz eurozone sentiments picking up in july reaching the highest level since april of 2012. Sentiment across the 17 countries rose to 92. 5 from 91. 3. David also a pennsylvania judge has ordered three former penn state administrators to stand trial in the Jerry Sandusky child sex abuse scandal. The judge ruled prosecutors have shown enough evidence to warrant a trial for expresident graham spannier, former vp gary schultz and exathletic director
Forced the balloon 1,000 feet to the ground. A u. S. Photographer snapped these photos before several groups of tourists took flight to see some of luxors famous sights. Authorities say no americans were riding in the balloon that went down. Three people including the balloons pilot survived. They reportedly jumped out of the balloon before it crashed. Tina kraus, cbs news. Hot air balloon crashes have happened in luxor before. 16 people were hurt four years ago when a balloon came down after hitting a communications tower. A bay area couple missing in south america may have been spotted just 10 days ago. Kpix 5 reporter cate caugiran is in the newsroom this morning. And cate, there is some word from peru on what they might be doing. Reporter kpix 5 spoke with a hostel operator this month who believes they are still in the area. Peruvian tv reports these photos of garrett hand and jamie neal. It shows them taking a bus to lima january 26 days after they stopped posting on facebook. The