he s also ordering lawmakers not to try to undue budget cuts that come as a result of the committee s failure. western powers are stepping up sanctions against iran after fears the country may be working on a nuclear weapons program. canada is banning all financial transactions. britain has ordered all financial institutions to stop doing business with iranian banks. the moderate father of a murdered british teen testified monday. they testified of phone hacking by the news of the world gave false hope she was alive. outrage over the scandal forced the closure of the tabloid in july. those are the headlines from cnn. world business today starts now. it s 9:00 a.m. here in london. i m nina dos santos. and it s 5:00 p.m. in hong kong. i m andrew stevens. you re watching world business today . these are our top stories today tuesday, november 22nd. no deal on debt reduction. the super committee proves it s anything but. tear gases and tensions in south korea. a
>r p a fierce gu or out nep out near a h international reporters are staying. reberebels say they re making r gains, a a reuters ease report says forces were seen advancing. gadhafi s government says the rebellion is failing. a government. embattled bashar al assad is giving an interview to state-run television this hour to talk about his country s future. among other things, he is expected to discuss reforms and political and economic pressure from the west. al assad faces growing calls to end his brutal five-month crackdown on opposition protesters. the families of two american hikers sentenced to prison in iran are holding out hope for leniency. iran has handed down eight-year sentencing for josh fattal and shane bower. they were accused of spying. in a statement their fame say, quote, we appeal to the authorities in iran to show compassion and allow them to return home to our families without delay. prosecute rors are asking the woman to meet with them tomorrow.
people can feel like they can have control over now, if you can get through to the bankers. we re trying and it s not cheap to refinance. that s right. you have to think about whether you want to do that. if rates go low enough, it s good to check it out. it s friday. yes. yeah. although the week started off well, the realization that a second recession may be drawing closer is hammering stocks this morning. actually futures. here in the united states, the dow dropped 420 points or nearly 4% yesterday, stripping away this week s gains and then some. adding to the uncertainty, bad news on manufacturing, inflation and jobs. jobs, which we know are scarce, this video says it all. thousands of americans waiting for hours in sweltering heat just hoping to land an interview at a job fair in atlanta and because the economy is truly global, the anxiety here is spreading. nina dos santos is live in london. nina, how are the markets overseas so far? i m afraid to say
of the turmoil on wall street has been triggered by fears over the european debt crisis and the anemic economies. and richard quest, one of the best people to turn to when we want perspective on the global economy. he joins us from london. what happened in the european markets today? reporter: the europeans went down initially and then down further and they rallied with wall street. we closed down 1% in london, and paris 1%, and frankfurt, once again the german market is being creamed by what is happening at the moment, by far and away being breutally attacked. and the german industry has made much from the exports and those promised to be hit by the u.s. slowdown and elsewhere in the world. putting it altogether for you, and as we look at the weekend, i cannot agree more with alison, and basically what we are seeing this afternoon is market exhaustion. people have literally just have been gasping there way. there will betrayeding because of triple witching. but by and larg
reviving what was then a struggling computer maker. he is really considered a true visionary. you know, on his watch, you know, were those gadgets we know and love. they all came out, the mac desk top computer, the ipod, iphone, and most recently the ipad. these are some of the most talked about products ever. even fortune came out and said the past decade in business basically belonged to jobs. so he obviously takes this leave of absence with a heavy heart. thanks. we ll look deeper into steve jobs medical problems. senior medical correspondent elizabeth cohen will drop by in just a few minutes. heavy rains and melting snow can mean only one thing in the pacific northwest. a lot of flooding. watches and warnings up across oregon and washington, roads are closed, including the wilson river highway which stretches from portland to the coast. emergency crews are busy rescuing people caught in flood waters and just what they do not need, more rain is on the way.