New figures out this morning show Japan's economy is slowing down. It grew at a rate of 1.4 percent in the latest three month period. That's down sharply from the previous quarter.
The latest economic data out of China show a continued slowdown there. New numbers on factory output and retail sales came in below expectations this morning.
Today the world is watching us here in the U.S. The Labor Department is about to tell us how many jobs
were created in the U.S. last month and what the new unemployment rate is. It's seen as a key indicator for the health of the U.S. economy, which is still the largest in the world.
In Japan, two big electronics companies are reporting disappointing earnings this morning. Sony is reporting a $316 million quarterly loss. And Sharp announced a $1.2 billion loss, which was much worse than expected.
Today blackouts in northern India spread to the eastern states, affecting half of the country's 1.2 billion people. Many office buildings are running on generators; More than a hundred trains were stranded in the summertime heat.
The crisis in the eurozone is hitting profits everywhere; Anglo-Dutch oil giant "Shell" is the latest. Shell says this morning earnings fell 13 percent compared to the same quarter last year. This follows a string of U.S. companies blaming Europe.
Eight people have been charged in the phone hacking scandal that closed down Rupert Murdoch's paper, News of the World. Prosecutors allege the employees took part in the illegal interception of voicemail messages of more than 600 people.
Moody's Investors Service has lowered the outlook for the credit ratings of three of Europe's strongest economies: Luxembourg, the Netherlands and Germany. It's part of a busy day in Europe that has investors on-edge — markets there are barely moving.
