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Jul 24, 2012

Marketplace Morning Report for Tuesday, July 24, 2012

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The 2012 Olympic Games begin in London on Friday, but already a venerable Olympic sport is underway: The Brits are arguing about the costs and benefits of the event, which set them back at least $15 billion so far. Speaking of $15 billion, China's government-controlled oil company, CNOOC, is snapping up Nexen of Canada for just as much. Nexen is big in the oil sands of Alberta and the Gulf of Mexico. And as this summer's drought shows no signs of letting up, many farmers are worried about the future of their crops -- but in other states, farmers see nothing but green.

Segments From this episode

Outside of drought areas, farmers predict strong year

Jul 24, 2012
Farmers who've escaped the drought are pulling in high prices for their crops.

High-end buyers boost Florida condo market

Jul 24, 2012
Empty nesters with money to spend are fueling something of a boom in Florida's vacation home market.

Brits worry if cost of Olympics is worth it

Jul 24, 2012
The 2012 Olympic Games begin in London on Friday, but already a venerable Olympic sport is well underway: The Brits are arguing about the costs and benefits of an event which has so far set them back at least $15 billion.

China wants oil company with U.S. assets

Jul 24, 2012
Analysts don't expect a replay of the fight that stopped CNOOC from buying Unocal.

Mariah Carey named newest 'American Idol' judge

Jul 24, 2012
Mariah Carey will be one of the new judges on "American Idol." The show lost Jennifer Lopez and Steven Tyler in the past few weeks, and "Idol" needs a boost.

Germany's strength doesn't protect from Moody's downgrade

Jul 24, 2012
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.

Former Murdoch employees charged for hacking

Jul 24, 2012
The long running scandal over phone hacking in England has erupted once again as eight former News of the World employees receive criminal charges.

Eight charged in U.K. phone hacking scandal

Jul 24, 2012
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.

Online political ads: Effective or creepy?

Jul 24, 2012
A study out today says voters find targeted, online political ads creepy and 86 percent didn't want political ads to be tailored to their interests.

Spanish borrowing costs up, German rating may go down

Jul 24, 2012
Spain's borrowing costs are up to 7.5 percent -- the higest since it joined the euro. As a result of the regional crisis, Moody's announced today that it is poised to lower Germany's credit rating to AA.

Troika inspectors meet in Greece for progress report

Jul 24, 2012
The European Commission, the European Central Bank, and the IMF began meetings in Greece today -- they'd like to know what structural reform progress has been made in return for billions in bailout money.

PODCAST: Europe in trouble, from the Olympic Village to Germany's rating

Jul 24, 2012
The 2012 Olympic Games begin in London on Friday, but already a venerable Olympic sport is underway: The Brits are arguing about the costs and benefits of the event, which set them back at least $15 billion so far. Speaking of $15 billion, China's government-controlled oil company, CNOOC, is snapping up Nexen of Canada for just as much. Nexen is big in the oil sands of Alberta and the Gulf of Mexico. And as this summer's drought shows no signs of letting up, many farmers are worried about the future of their crops -- but in other states, farmers see nothing but green.

The 2012 Olympic Games begin in London on Friday, but already a venerable Olympic sport is underway: The Brits are arguing about the costs and benefits of the event, which set them back at least $15 billion so far. Speaking of $15 billion, China’s government-controlled oil company, CNOOC, is snapping up Nexen of Canada for just as much. Nexen is big in the oil sands of Alberta and the Gulf of Mexico. And as this summer’s drought shows no signs of letting up, many farmers are worried about the future of their crops — but in other states, farmers see nothing but green.

The team

Stephen Ryan Producer, BBC