that and we re going to have to find out in congress exactly how to prevent this thing from happening again. a weekend foreinvestors but they do seem to be assured what they re hearing. futures are up more than 1% on the s&p and nasdaq. the u.s. state of california is set for another major storm tote and floodwaters are expected to move through communities near the central coast after a levee breach last week. cnn s derek van dam will have the forecast that will bring good news to the state but first, here s cnn s mike borella. reporter: we ve seen first responders go up and down the streets, just over my right-hand shoulder, you can see people who have decided to stay in this apartment building. conditions, of course, still remain pretty treacherous. the water level here has not gone down, in fact, it s gone up
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we begin in the u.s. state of california where a pair of new shootings have claimed the lives of at least seven people. that comes just days after 11 people died in a mass shooting further south in monterey park. monday s rampage took place in the coastal city of half moon bay, where authorities say the shooter opened fire into different locations. flea two miles apart. another victim was critically injured in the attacks. police took 67-year-old generally sow into custody, and they say they found a handgun in his vehicle close by. well, now they are trying to figure out a motive. here was the san mateo county sheriff speaking on monday. at 4:40 pm, sow was located in his vehicle in the parking lot of the sheriffs substation here in half moon bay. by a sheriff s deputy. cao was taken into custody
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