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really to blame for america s downgrade. t. boone pickens, where america goes from here. how bad is all of this for president obama. started to hear the white house in the kennedy years. dan rather. ever seen washington or wall street like this? and anarchy in the uk, what s behind the days and nights of rage in london and other uk cities. where will it end? this is piers morgan tonight. good evening on a busy news day around the world, thousands of police on the streets of london and other uk cities are getting the upper hand on the fourth night of appalling violence there. we ll have a report on the scene in a few minutes. mean while, there are wild gyrationings ending with the dow up nearly 4%. what it all means for your money is diane swank, and personal finance expert carmen wong ulrich. let me start with you diane. crazy day in the market. are we heading for another day of the dow falling. then the rally in the end ends up 400 points up. what do you make of it ....
That weren t with the other seven today. if you look at what bernanke said and what he did today, the fed gradually revised the growth from the spring to june. 2.9 to 2.7%. now they are suggesting that it s going to be even slower. but there seems to be an incon analysis stepsy here. you also had the fed say they expect the unemployment to continue to decline just at a slightly slower rate. that seems to me puzzling. with the unemployment being a lacking indicator and gdp revised down dramatically. you are talking about the gross domestic product in the first half of the year at about .8, i mean, that is incredibly slow. i would expect that unemployment would likely rise rather than decline. even if it were declining more slowly as the fed suggests. bret: okay. same time, congress getting ready for the supercommittee that has to come up with the recommendations to cut another ....
parties in parliament called on murdoch to dump his plans to pursue it. at least four members of the u.s. congress want the government to investigate whether u.s. citizens were victims of phone hacking by murdoch s media outlets. international journalists were attempted to hack into the phone messages of 9/11 victims. > ruling party officials say mr. salih will go back after he s 4 surgery. those are the headlines. those are the headlines in cnn in london. world business today starts now. very good morning to you from cnn rome. and good afternoon from cnn hong kong. i m pauline chu and this is world business today. these are the top stories on this thursday, july 14th. running on empty and running out of time on both sides of the atlantic. there s a tense stalemate in washington as lawmakers fail yet again to head off the looming debt default. meanwhile, italy races to push through austerity measures and restore confidence in the country s economy. plus, r ....
The details of what to cut. following an emotional memorial on thus, the remains of first lady betty ford will be flown to grand rapids, michigan today. she ll be buried next to her husband at the gerald ford museum. investors will be watching bernanke s testimony in the next hour. he s expected to drilled on the debt. other stories making headlines, happy trails ron paul, at least in the house of representatives. in a message on his facebook page, he noted he would not seek re-election in the house in order to focus on the presidential campaign. there is one other sitting member of the house running for president, michele bachmann, we haven t heard from her whether she is ready not to file for re-election in minnesota. ....
This. news corp has taken extraordinary actions including shutting down news of the world and now putting out of the deal he s been going off for a long time, trying to get a hold of that company. at this point the company just put out a release that says we believe that the proposed acquisition would benefit two companies but it s clear it s too difficult to progress in this climate. already shares of b sky by have been pressure before the open. we ll continue to keep an eye on this. there s also a lot of pressure coming from washington in terms of what to do about the debt ceiling. a lot of people we talked to today still think a deal will get reached that this is a lot of political theater but keeping an eye on what bernanke is going to say when he heads to capitol hill. he ll testify before the house taking questions about the economy, where things stand, what he thinks about the debt ceiling talks and whether or not the fed would actually come on ....