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MID-DAY UPDATE: Google backs off its China policy and assessing BP's financial health

The Mid-Day Update is a five-day-a-week podcast from the Marketplace Morning Report co-hosted by Bill Radke and Steve Chiotakis that wraps up the morning news in a fun little package. Listen here every day at 10 a.m. PT or download it to your iPod by subscribing to the Morning Report Podcast:

From the Marketplace world headquarters in Los Angeles, it's the Mid-day update.

Google took steps to keep Internet license in China. The search giant threatened a few months back to leave the country, taking exception to Chinese censorship rules. But, it has decided to back off its China policy. Tomorrow, its Internet license in China will expire. Will the company's latest moves be enough to keep its license?

It looks like the center of Tropical Storm Alex will miss BP's leaking oil well in the Gulf of Mexico. The waves the storm is likely to bring could hamper oil containment efforts. Alex is approaching hurricane-strength as it heads towards Texas. Read our report on the storm's impact on BP. Vice President Biden is expected to visit the Gulf area today to assess clean-up efforts.

The latest report from Standard & Poor's and Case-Shiller says single-family home prices came up unexpectedly.

Greek unions held their fifth general strike of the year, affecting the country's largest port, Piraeus, and a very important industry. Greeks are protesting the government's austerity cuts.

China and Taiwan signed a game-changing trade pact known as the economic co-operation framework agreement that will give the country's access to each other's markets. But not everyone is happy about it.

And Wachovia topped a list of financial firms that helped move money to drug cartels in Mexico.

About the author

Daryl Paranada is the associate web producer for Marketplace overseeing all daily website content and production, as well as producing multimedia features -- including the popular economic explainer series Whiteboard -- and special projects. Follow him on Twitter @darylparanada.

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