he at one point went from hong kong to japan to recuperate. he was the one that wanted to be an artist and wanted to paint. i thought about that because it must have been hard growing up in hong kong to be far away from everything and have a dream and get sick at this point. i thought u is there a story here? that's the way it begins for writers. people think things jump out and we have it in our head. it's the opposite we have nothing in our head. we turn on the machine and praying for something to come. with women of the silk i researched for 6 amongs and read and read and read. in one book i found 2 lines about the woman silk workers and knew immediately that's hai wanted to write about. it came to me like a dream that every writer prays for that you just knew you wanted to write about this. with the second book it was difficult i sat down and didn't know what i was going to write for about 6 months. which was fearful for me because of the fact i knew i didn't have the second book. steven's story, i asked myself questions. a lot of writers

now recall that milton friedman said quote if you want to see capitalism in action go to hong kong well apparently there's been these a few events of hong kong tour guides ripping off chinese visitors from the mainland by forcing them to buy things and the tour guide is caught on camera in this one situation where he said how can there be free lunches in this world forcing them to consume and buy these junk products well you know america used force consumption china was forced labor now it's other way around we're seeing forced consumption in china and the u.s. is turning into a forced labor. say sarah thanks again for being on the kaiser report thank you max don't go away much more coming your way so stay tuned. for the full story we've got. the biggest issues get voice ceased to face with the news makers. every month we give you the future we help you understand how we'll get there and what to bring the best in science and technology from across russia and around the world join knology update on r.g.p. . welcome back to the kaiser report time now to go to massachusetts and speak

now recall that milton friedman said quote if you want to see capitalism in action go to hong kong well apparently there's been these a few events of hong kong tour guides ripping off chinese visitors from the mainland by forcing them to buy paintings and the tour guide is caught on camera in this one situation where he said how can there be free lunches in this world forcing them to consume and buy these junk products well you know america forced consumption china was forced labor now it's other way around we're seeing forced consumption in china and the u.s. is turning into a forced labor. they say our thanks again for being on the car is a report thank you max don't go away much more coming your way so stated. that. the. motion would be soon which brightened if you knew about sloan from funniest impression these. stunts on t.v. don't come. welcome back to the kaiser report time now to go to massachusetts and speak with gregory mcdonald is an oil analyst and energy sector investor with his own web site greg are you ask greg or welcome to the kaiser report it's great to be here ma

in other asian markets, hong kong's hang seng opened up 1.25%. now it's up 0.7%. the shanghai index for major blue chips, however-s down 0.1%. and in shenzhen the sse composite is down half a percent. we'll be back with more biz news later in the hour. back to the main news with catherine. >> thanks very much, ines. >>> the international court of justice says kosovo's unilateral declaration of independence from serbia in february 2008 did not violate international law. the court bases in the hague announced the judgment on thursday. the united nations had asked the court to rule on the issue. the icj said it considered that international law contains no applicable prohibition of a declaration of independence. nearly 70 countries, including the united states and japan, have recognized kosovo's independence, but serbia and other nations have not. the icj's judgment is not legally binding, but it could pave the way for more countries to recognize kosovo's independence. serbian president boris tadic dismissed the court's verdict, saying his country would never recogni

on the other hand, hong kong well missed the majority of the really heavy rains and winds. but definitely outer rain bands will enhance thundershowers and downpours. so definitely do watch out for that. all right, there will be more of your weather later on. >> thanks very much. >>> well, over to the world of business now. let's go to ines matsuyama. ines. >> thank you very much, catherine. >>> u.s. president barack obama has signed a bill to give the government new regulatory powers over financial institutions. it's the biggest overhaul of financial rules since the great depression in the 1930s. obama put the bill into law on wednesday. he wants to avoid a repeat of the global economic crisis triggered by the 2008 collapse of u.s. investment bank lehman brothers. the controversial bill took more than a year for the congress to pass it. >> because of this law the american people will never again be asked to foot the bill for wall street's mistakes. >> but obama added the economy still needs fixing and urged his colleagues to work tirelessly for their legislation to take hol

in other asian markets hong kong's hang seng opened flat. it's now down 0.3%. the shanghai key index for major blue chips is up half a percent. and in shenzhen the sse composite is up 0.3%. >>> japan's electronics maker panasonic is moving toward full ownership of two of its subsidiaries. its aim is to boost earnings with a new business in energy-efficient homes. sources say panasonic will launch a bid for all the remaining shares of its subsidiary sanyo electric and panasonic electricworks by april next year. it currently holds a majority stake in both firms. while earnings at panasonic are on the mend overall, profits in its mainstay home appliances such as tvs have been falling due to fierce price competition. that has raised the urgency for collaboration to capitalize on its subsidiaries' relative strength. sanyo electric will provide solar and other energy-related technologies, and panasonic electricworks will share its residential market expertise. >>> a top u.s. trade official has again urged japan to scrap its restrictions on u.s. beef imports. speaking

be asked that issue a little bit later robert you said you want to draw jump in there while the hong kong of the mediterranean i've never heard that one before go ahead look first of all if you really want to justify israel's occupation of the west bank by referring to a dissolute old king whom the brits put in power without any proper election that's up to you i don't think that's the kind of bedrock and foundation of building settlements i'd want to advertise to viewers around the world but the fact of the matter is that when out of fact agreed to ninety ninety five agreement it was also agreed there would be further israeli treats retreats within areas see now that agreement was brokered it why river netanyahu broke that agreement because those retreats did not happen and that is the fact daniel in reply to that the fact is a way to say the fact the fact is that israel lost more civilians to terrorism since signing the oslo agreement in one thousand nine hundred three then can you answer the question that can you and i am sure that you know well even the real game can you. please answe

september two thousand and five you know the palestinians could have made the gaz a strip into the hong kong of the middle east unfortunately with the rainy and help in the help of the iranian the puts force of the i.r.g.c. they turned it into hell on the mediterranean and you have the iranian regime to thank for that and the people of gaza are crying and cursing the iranian regime because of that in fact when i speak to my friends in gaza they say it all the time they may not say that russia today because they're afraid of retribution from the iranian backed hamas and al qaeda affiliates in gaza will discuss a little certainly discuss that issue a little bit later robert you said you want to draw jump in there while the hong kong of the mediterranean i've never heard that one before go ahead look first of all if you really want to justify israel's occupation of the west bank by referring to a dissolute old king whom the brits put in power without any proper election that's up to you i don't think that's the kind of bedrock and foundation of building settlements i'd want to advertise to view

traffic had thousand dollar reward the victim 45 year-old chin in hong kong was scheduled to have a job interview at google. >> kron 4 news from the city berkeley is offering of $15,000 reward in bay area crime sippers is offering an additional $2,000 for information leading to the rest of the suspect or suspects responsible for the shooting death of marcus jr. appeared friday evening the 29 year-old was found slumped over the steering we will of a car after being shot. berkeley police investigators did not believe this was a random shooting. live in the newsroom did occur in kron 4 news. >> fog continues to be a big source close to the coastline this will start to affect the entire bay area over the next couple of days. if our mount tam cam there is really are keeping the school close to the coast terrific did san francisco, 55 of filter and were inland valley will talk about the cool them and tell the fog will stick around coming up just a bit. >> the jacqueline the very latest from downtown walnut creek a live look at the pro johannes mehserle rally that's close to wrapping up right

here's what we expect in tokyo on saturday, 32 degrees, 35 in shanghai and 31 in hong kong. we have incredible heat across central and eastern europe, but there is relief in the way of this system right here actually. we have a very strong, windy system. that frontal line comes across norway into france, and as this system passes central europe, you start to get relief from all the high heat. until then it will be pretty unbearable. let me show you where that heat is headed. jet stream allows it up north as far as places in finland and sweden. let me show you the temperatures we expect on saturday. berlin is 28, so it's cooler than all week. good news for you. 33 in vienna and clearly hot across eastern europe 36 in kiev and in the 30s for moscow. be careful outside, keep well hydrated and in the shade. here's your extended forecast. >>> and that's it for this hour on "newsline." the torrential rain since wednesday in japan, eight people are confirmed dead and five are missing. three women in their 70s died in hiroshima. one was swept away by floodwaters while the other two

watch out for landslides. 30 degrees in hong kong. 34 in tokyo. beijing at 35 for your daytime high. let's head to north america. we're watching some severe thunderstorms to erupt tonight across central canada and into the northern plains of the usa today. anything from thunderstorms to tornadoes are possible. and then also down in the southeast, you can see lots of heavy rain developing here. that will help to cool things down in the area on your tuesday. across the midwest, looking much calmer and drier. for the southwest, look for unsettled conditions to start up today. quite windy across much of the western side of the u.s. 36 degrees in denver. in houston, 31. in the northeast, 33 in new york. 30 in toronto. now the heat is beginning to subside in mainland europe. some areas still contending with a heat wave, especially in russia and also the southwestern corner. we'll get to that in just a minute. wet and windy weather will prevail across the british isles today. particularly heavy showers focused down in the south and also some heavy rain t

are waiting with bated breath to see what tomorrow brings when ag bank makes its trading debut in hong kong. >>> german chancellor angela merkel was in beijing on the latest leg of her tore through asia. she was talking with the chinese prime minister and his president. chancellor merkel arrived in beijing from russia, where sheik president medvedev, -- where she met president medvedev, describing russia as a key trading partner. theyo deals worth billions of euros to supply russia with trains and wind turbines >>> president medvedev used the news conference to announce they have discovered that the killer of a human rights activist and ordered an international manhunt to track him down. she was kidnapped exactly one year ago in chechnya, where she was a vocal critic of the kremlin. western leaders have condemned her murder and rights activists say the slowness of the investigation demonstrates a lack of political will. >> they have come to remember a friend, colleague, and supporters reject claims by investigators she was murdered by a rebel chechen fighter. >> they did not follow any of t

taking a look at overseas trading this morning, in tokyo the nikkei lost 21 points, but in hong kong the hang seng rose 222. >>> wall street was up again yesterday, thanks to some of the companies that have been beaten up the worst by hard times. early in the day traders were selling goldman sachs fast after the investment giant reported a steeper than forecast tumble in quarterly earnings. later investors had a change of heart, focusing on goldman sachs' future. shares ended up over 2%. traders also ignored worse than expected june housing starts data, focusing instead on applications for building permits, a measure of future activity, which unexpectedly rose. beaten but still standing, construction-related businesses all performed strongly. today look for apple to drive the markets. after the bell, apple blew past expectations, thanks largely to its hot-selling ipad tablets and new iphones. earnings news was not good yesterday. ibm fell a day after reporting quarterly revenues that missed estimates and was the dow's top drag. texas instruments also fell after missing revenue expect

taking a look at overseas trading this morning, in tokyo the nikkei fell 6 points, but in hong kong the hang seng climbed 133. >>> wall street continued clawing back yesterday, making headway, thanks to home sales and fedex. a surprising jump of over 23% in new home sales in june countered some scary recession-like housing data in recent weeks. pulte group up almost 5% led home builders. stocks also got a lift from fedex after the bellwether raised its earnings outlook, sending its stock up more than 4% greeted by investors as a sign of growing economic demand. >>> bank stocks got a late boost after an international oversight body said it will drop many proposals on capital and liquidity rules that banks and governments were resisting. bank of america was up 3%. >>> genzyme is jumping on takeover speculation. genzyme surged almost 8% as the "wall street journal" reported glaxosmithkline is interested, while bloomberg reported genzyme turned down sanofi-aventis. >>> united technologies will cut another 1,500 jobs this year. that's on top of 900 already eliminated this year and over 11,00

you concede this surveillance video of women and men in suspect, they robbed and killed james hong kong on west ridge st. pierre he had just won his teeth cleaned by a friend who was identified dennis, she was not injured in the robbery but of course he was killed. anybody that can identify them will help bring the suspect to justice. >> a san mateo couple admitted thursday afternoon, on the eve of their trial, to burglarizing the sonoma home of a family that had died in a vehicle crash just days before. the couple was charged with breaking into the home of john and susan maloney,destroying furniture, walls and doors and stealing john maloney's car. michael vincent gutierrez, 27, pleaded guilty in sonoma county superior court to first-degree residential burglary, vehicle theft and vandalism. he faces up to 11 years and eight months in prison. amber true, 29, pleaded no contest to the same charges. she faces a maximum eight-year prison term. sentencing is set for september 1st. >> we can up until this morning after his two year-old grandson was mauled to death by two of the three couples

taking a look at overseas trading this morning, in tokyo, the nikkei jumped 210 points, while in hong kong, the hang seng went up 225. >>> thanks to strong earnings from some key companies, wall street posted its best day in over two weeks yesterday. all signs point to more of the same today. united parcel service viewed as a barometer of consumer and business demand rose more than 5% after raising its profit outlook. heavy machinery manufacturer caterpillar was up almost 2% after reporting strong sales of equipment for a wide range of industries. 3m, also considered a bellwether because of its broad base of products jumped more than 3% after delivering an upbeat future forecast and a jump in net income. good numbers from big names after the bell. as well, microsoft already up 3% in regular trade reported a rise in quarterly profit after hours. also late, american express beat street expectations, tripling its second quarter profit, helping amex bring its business back to pre-recession levels. >>> one big after-hours loser, amazon.com's earnings fell way short of wall street's estimates, s

taking a look at overseas trading this morning, in tokyo the nikkei lost 107 points, but in hong kong the hang seng went up 173. >>> hopeful investors gave markets a modest boost yesterday, but after the bell earnings from big blue could set a dismal tone for today. ibm beat profit forecasts with solid software sales last quarter, but thanks to slumping service contracts and a weak euro, the tech giant's revenue came up short. ibm fell 4% after hours. however, business is booming at halliburton after reporting an 83% profit surge, the oil company predicted high demand for land-based drilling will offset the current deepwater ban. >>> more fuel for the energy sector. china has efficiently surpassed the u.s. as the world's biggest energy user, a strong sign of continued growth for global energy demand. >>> investors shook off crumbling confidence from the nation's homebuilders yesterday, but today could be a different story. fresh data on housing starts are expected to hit a new low. >>> boeing boosted optimism on the street yesterday, landing more than $6 billion worth of sales for its

hong kong's hang seng is lower. in london, the ftse ope lower.reet the dow fell 100 points. the nasdaq lost 17 points. >>> the economic recovery continues duri quarted quarter, but the pace of growth slowed, that is the conclusion of a survey released this morning. despite the slowdown, more businesses do appear to be hiring. 31% say they added workers, the highest in three years.expect t 39% expect to hire more workers over the next six months. >>> a government watchdog is criticizing the way the obama administration handled part of the auto bailout. a report says the treasury department failed to consider the job losses from general motors and chrysler to shut downing the dealerships. however, the treasury says its actions avoided a potentially catastrophic collapse. >>> and ford is looking to revive suv sales with a new fuel-efficient explorer. t"the wall street journal" is revealing that unvill unveil a vehicle later this month. it made the vehicle significantly lighter and a smaller engine. gas prices are soared a few years ago. >>> at the m

taking a look at overseas trading this morning, in tokyo, the nikkei fell 277 points, while in hong kong, the hang seng lost 5. >>> ironically two of wall street's biggest recent bad boys saved thursday from being a total wipeout. trading picked up late on word goldman sachs agreed to a settlement over civil fraud charges over misleading buyers of mortgage-related investments. goldman will pay the securities & exchange commission fines of $300 million and $250 million to compensate investors. also late in the day, bp shares zoomed on word the company succeeded in stopping the flow of oil into the gulf. shares rose even higher after hours. >>> earning news continues to be good. second quarter profit at general electric, the current owner of this network was up over 16%, beating wall street forecast. the news has sent shares of ge higher in premarket trading. jpmorgan easily beat analysts' expectations, reporting its second quarter net income soared 77%. the earnings exception, google, the company's second quarter earnings missed wall street's target as higher expenses in the european debt

getting up to 33 in hong kong. very muggy conditions for you as well. tokyo will be sweltering once again. 35 degrees for you on tuesday. that falls days of mid to upper 30s we've been seeing since the weekend. looks like it will stay hot into a lot of this week as well. towards the americas and central america, caribbean islands continue to see a lot of tropical activity. showers and downpours for you. we're looking at this long frontal line that stretches across the united states, towards the mid-section, plains state, northwest, northern rockies could be looking at severe weather breaking out tonight. otherwise, that rain continues to head in an easterly direction and starts moving into the mid-atlantic states on tuesday. as for highs, we're looking at 34 in new york. and 34 in d.c. staying pretty hot in the east. also, looking at a lot of reds across the mississippi valley. there are heat-related watches in effect for you. definitely take precautions if you are going to be out and about. denver will be pretty hot during the day. 32 degrees for your

it now offers users in china an optional link to its hong kong service instead. those are some the day's major stories. now back to jim. >> lehrer: the nation's governors are gathering in boston today for their annual conference. and share major agenda item is the bleak budget forecast they face. margaret warner has our story. >> warner: nearly every state in the union began a new fiscal year this month and the picture isn't pretty. with unemployment still hovering just below 10%, most states are being hit with a higher demand for services and lower than expected tax revenues. that's lead to predictions of a combined state's budget shortfall of as much as 140 billion dollars this fiscal year, and state spending cuts that could cost up to 900,000 public and private sector jobs. to make matters worse, congress has stalled action on bills worth about $40 billion to help states pay for medicaid programs and to retain teachers. and the state aid from last year's 787 billion stimulus package is due to run out at the end of this fiscal year. all that adds up to a very b

hong kong's hang seng is higher. in london, the ftse opens slightly lower.n wall street, the dow fell 109 points yesterday. meanwhile, the nasdaq slipped 35 points. >>> and stocks were higher yesterday, before federal reserve chairman ben bernanke spoke at a congressihearing. hearing. he warned lawmakers that the country's economic outlook is, quote, unusually uncertain. he said the fed is ready to take action if things get worse. but that nothing is imminent. he also said it would take a significant amount of time to restore the jobs lost during the recession. >>> big oil is teaming up to come up with a rapid response system for future oil spills. exxon mobil, chevron, conoco phillips and shell have donated $1 million to form a company to respond to spills underwater. bp was informed about the venture but has not joined. >>> ford is trying to make the decision to go green a little easier. the automaker plans to sell the hybrid version of the 2011 lincoln mkz for the same price as the gas model. it is the first time any automaker has done that. and it could

taking a look at overseas trading this morning, in tokyo the nikkei rose 256 points, while in hong kong the hang seng added 117. >>> stocks were mixed tuesday after a survey on the nation's confidence in the economy showed job worries and anemic wage growth have americans worried. the consumer confidence index came in with a steeper than expected decline for july and now stands at the lowest point since february. >>> housing market news was somewhat more upbeat. home prices rose in may for the second straight month as federal tax incentives pulled in more buyers. however, the report also warned those tax credits have expired, so the gains aren't likely to last. >>> chemical maker dupont was up more than 3% after reporting net income nearly tripled in the second quarter as revenue surged in most of its businesses. steel makers were less rosy. a.k. steel lost almost 5% after announcing it was cutting production in response to weak demand. >>> u.s. steel tumbled more than 6% after reporting in that loss that missed wall street's expectations. >>> not bad was okay for office depot, reportin

but hong kong's hang seng is higher. in london, the ftse opened higher.nd on wall street, the dow rose 56 points yesterday. meanwhile, the nasdaq added 19 points. >>> fresh evidence this morning of how big china's economy has become. china has passed the united states to become the world's biggest energy consumer. its surging growth has transformed energy markets, driving up prices of oil and coal in recent years. the u.s. had been the biggest energy user since the early 1990s. and just a decade ago, china's total use was half that of the u.s. >>> target is among stores rolling out special deals, trying to get customers to shop early for this year's holiday. it's holding a one-day online sale on friday, that's modeled after black friday sales. sears and toys "r" us are offering christmas in july sales. >>> amazon says it is now selling more e-books or its kindle than hard cover books. that pace has picked up in the last month. >>> well, the next time you have a free weekend, you can try for a guinness world record. that's what these dutch gamers did, sett

hong kong's hang seng is higher. in london, the ftse opened slightly higher.omes after the dow surged 201 points yesterday. the nasd the nasdaq climbed 58 points. >>> wall street is under attack again for the bonuses it handed out during the height of the financial crisis. the obama administration is releasing a report today which finds 17 financial firms paid nearly $1.6 billion in excessive bonuses immediately after accepting all that taxpayer aid. goldman sachs, citigroup, and aig are among the companies named. but since most of them have paid back their bailouts, there's not much the government can do. >>> a new study estimates the bp oil spill could cost the gulf coast up to $23 billion in tourism over the next three years. travel and tourism generates up to $34 billion a year in coastal communities. and employs 400,000 people. the group that commissioned the study wants bp to pay $500 million for a marketing campaign to help bring those visitors back. >>> a former general motors engineer and her husband have been charged with trying to steal trade secret

taking a look at overseas trading this morning, in tokyo the nikkei dipped 57 points, but in hong kong, the hang seng nudged up two. >>> news confirming fears the economic recovery is sputtering sent stocks lower wednesday, first in what traders took as an unmistakable sign economic recovery has cooled in the second quarter. new orders for long-lasting manufacturing goods fell unexpectedly for a second straight month in june, posting the largest drop since last august. >>> adding to the disappointment, the federal reserve's beige book, a periodic summary of national economic conditions. while the fed found manufacturing expanded in several regions, in about half, manufacturing had slowed or leveled off. >>> boeing added to the gloom, forecasting full-year earnings slightly below estimates. the plane maker's shares fell almost 2%. home builders fell sharply a day after meritage homes reported a 22% sales decline following the expiration of the federal home buyer tax credit. meritage shares fell more than 6%. >>> cvs caremark reported weaker quarterly earnings. it lowered its profits for

taking a look at overseas trading this morning in tokyo, the nikkei tumbled 158 points, while in hong kong the hang seng lost 64. >>> tech weakness and worries about the recovery dogged wall street on thursday. nvidia and symantec both cut expectations for the next quarter, raising questions about demand for technology and components. nvidia fell almost 10%, and symantec dropped more than 11%. >>> also pressuring stocks early, st. louis federal bank president james bullard who said he was worried the united states could be falling into a japan-style quagmire of falling prices and investment. >>> another thing making traders uneasy, today's first reading on gross domestic product for the april-to-june quarter. with a recovery appearing to be losing stream, today's gdp number is widely expected to stoke concerns the u.s. could be heading into a double dip recession. >>> consumer staples were hammered thursday. kellogg lowered its guidance after reporting a lackluster second quarter, shares fell almost 7%. colgate-palmolive shares sank thursday after posting revenue below expectations and a l

hong kong's hang seng is down in late trading. and in london, if ftse opened lower.l street starts the day with the dow jones industrial average at 10,476, after losing 30 points yesterday. meanwhile, the nasdaq index dropped 12 points to close at 2251. >>> citigroup has agreed to pay $75 million to settle federal claims that it failed to disclose huge investments in subprime mortgage properties. the security and exchange commission accused citibank of hiding shaky investments from shareholders while losses piled out. citigroup did not admit to or deny the s.e.c.'s accusations. >>> toyota is recalling nearly 500,000 cars, a sign the automac iris still struggling with safety problems. 412,000 suvs and cars sold in the u.s. have a steering wheel that can lock up. toyota has recalled nearly 10 million cars since last october. >>> as we all know, home computers can do a lot for us. but one thing programs have always had trouble with is software that can accurately take dictation. now, nuance, the leader in voice-recognition software says it has it down to a "t" with a pr

taking a look at overseas trading this morning, in tokyo the nikkei dropped 57 points, but in hong kong, the hang seng went up 102 points. >>> for anyone in the business world, an economy with a future that is unusually uncertain is cause for concern. but when the economy is being called unusually uncertain by the head of the federal reserve to wall street, that's cause for alarm. speaking in an unusually downbeat tone to the senate banking committee yesterday, fed chief ben bernanke talked about continued weakness in a labor market while offering no plans to help stimulate the stagnant economy. stocks tumbled after bernanke's comments despite a number of strong quarterly earnings reports. shares in investment bank morgan stanley rose over 6% after its earnings came in better than expected. another financial, wells fargo, was up after rising loan demand helped lift its earnings higher than expected. apple was up also after posting strong quarterly results, but the company's cautious forecast limited gains. coca-cola gained on better north american soft drink sales from april to june. us

taking a look at overseas trading this morning in tokyo, the nikkei climbed 72 points, while in hong kong the hang seng went up 24. >>> the man who seemingly couldn't say or do anything right in the wake of the disastrous bp oil spill is on the way out. as we told you at the top of the show, according to reports, bp's tony hayward, whose bumbling added insult to oil spill injury for the gulf coast is stepping down as ceo. an official announcement is expected later today. >>> elsewhere, speaking this weekend, treasury secretary tim geithner said allowing the bush tax cuts which he called tax cuts for the wealthy to expire would be, quote, the responsible thing to do. >>> venezuelan president hugo chavez threatened to cut off oil sales to the united states if they are attacked by colombia. it's all about a dispute over allegations venezuela gives haven to colombian rebels. most aren't taking the threats seriously. it would be a huge economic blow for a government which depends heavily on oil sales. >>> in the week ahead on wall street, it will be all about earnings with results from bellwet

in other asian markets hong kong's hang seng opened 0.2% higher. it currently is down just slightly. slightly in the red. the shanghai index for major blue chips is down 0.6%, and in shenzhen the sse composite is also down half a percent. >>> japan's mitsubishi electric will boost production of semiconductors with improved energy control features. it's in a bid to tap growing chinese demand for ecofriendly home appliances. the so-called power semiconductor is used in energy-efficient air-conditioners and hybrid vehicles. the chip cuts energy use by controlling electricity flow to a motor. mitsubishi plans to add new production lines to existing plants in western japan by march next year. that will burst current output capacity to about 2 1/2 times and at a cost of roughly $110 million. the company also plans to develop more advanced semiconductors to boost its chip sales by 40% in five years. a mitsubishi executive says china's chip demand is growing over 5% annually. >>> new condominiums for sale in tokyo have surged 27% in the first half of the y

but hong kong's hang seng is higher. and in london, the ftse opened sharply higher. on wall street, the dow added 75 points yesterday. the nasdaq climbed 24 points. >>> federal reserve chairman, ben bernanke, will be on the hot seat on capitol hill today. he delivers part of his semiannual report on the economy. despite recent signs of slipping, he is expected to downplay the chances of the economy slipping back into a recession. but bernanke is also expected to tell lawmakers that the fed is ready to take new steps to support the recovery, if necessary. >>> the $700 billion bank bailout is winding down. but a government watchdog says taxpayers are still propping up the financial industry. the report finds federal support for banks has increased 23% in the past year or roughly $700 billion, even though the crisis has passed. the report also slams the administration's housing relief program, saying it has not put a dent in foreclosure filings. >>> and bp is selling assets to help pay for the cleanup in the gulf. the oil giant is raising $7 billion from oil fields, gas

hong kong's hang seng is higher. in london, the ftse opened higher. wall street, the dow rose 12 points yesterday for its fourth-straight gain. the nasdaq fell eight points. >>> the economy is showing signs of improvement. but most companies are still not hiring. although they certainly can afford to. according to numbers published in "usa today" nonfinancial companies had a record $837 billion in the first quarter. that's up 26% from a year ago. many experts say companies need to invest that money in new facilities and products in order to help create jobs. >>> and the housing market, showing some signs of improvement. but experts don't expect that to last too long. home prices in 20 of the nation's biggest cities rose 1.3% from april to may. it was the second-straight increase, thanks largely to federal tax credits. but many experts now fear prices will drop in many cities through next summer. >>> there was some sticker shock where general motors revealed the price of its new electric car. the chevrolet volt will start at $41,000 when it goes on sal

japan's nikkei gained nearly 1% while hong kong's hang seng was also up. today wall street gets the latest on the housing market. last week strong corporate earning reports put investors in a buying mood. the dow gained 2% wiping out all losses for the year while the nasdaq tacked on more than 4%. >>> a major battle is looming over the expiration of bush-era tax cuts for the wealthy. timothy geithner said he backed letting those expire for those making $250,000 or more a year to help bring down the deficit. most republicans and democrats on capitol hill strongly disagree. arguing it could endanger the economic recovery. the tax cuts were passed by congress under president bush in 2001 and 2003. >>> the ford explorer is making a big comeback. today the automaker will roll out a new marketing campaign for the vehicle that helped launch the 1990's suv boom. the vehicle has been resigned. it's now built on a car platform, not one for a truck, so it will sit lower, more fuel efficient and also not as powerful. this year's model, which is due in dealerships this

in other asian markets hong kong's hang seng opened up 0.6%, is currently up 0.8%. the shanghai key index for major blue chips is up 0.2%, and in shenzhen the sse composite is up 0.7%. >>> a japanese department store operator will soon start growing fruit and vegetables in china to meet increasing demand for japanese foods in the country. isetan mitsukoshi holdings will begin farming in tianjin next month on land leased by the city. the company will be the first major japanese department store operator to do agribusiness in china. the store will team one an agricultural cooperation in southern china to grow cherry tomatoes, japanese strawberries and radishes. they will sell the produce to their outlet in tianjin under its brand name. japanese foods are becoming popular in china as they are recognized for being safe to eat and for its high quality. china's import regulations ban most japanese proceeds except for apples and a few other items. the company says it can use selected japanese seeds and agricultural chemicals that meet japan's stringent safety standards in

in other asian markets, hong kong's hang seng opened down 0.4%. it's currently down 0.2%, slightly recovered here. the shanghai key index for major blue chips is down .25%. and in shenzhen the sse composite is down just a fraction. >>> japan's unemployment rate in june rose from the previous month for a fourth month in a row. the internal affairs ministry reported on friday that the seasonally adjusted jobless rate for the month stood at 5.3%. that's up 0.1 percentage point from may. the number of people with jobs stood at just under 63 million, which was down 200,000 from the same month a year ago. meanwhile, the number of unemployed improved at 3.4 million, compared with a year ago. in a separate report, the ratio of job offers to seekers in june improved from the previous month. the labor ministry said there are 52 positions for every 100 job seekers. those figures confirm that jobs are still hard to come by in japan. and that's also true for new college graduates across the nation. japanese college students typically start looking for jobs in

japan's nikkei lost almost 2.5% while hong kong's hang seng was also lower. today wall street get the latest on inflation. thursday a seven day winning streak came to an end. the dow lost seven points while the nasdaq was down a fraction. >>> wall street powerhouse goldman sachs will pay $500,000. to settle charges it defrauded. it's the biggest penalty ever levied by the s.e.c. in the settlement goldman neither admits or denies it committed fraud but failed to disclose vital information to its clients. the fine includes $250 million to compensate harmed investors. goldman will write another $300 million check to the united states treasury. now, it may sound like a lot of money, but it amounts to a little more than two weeks of net income for the firm. and getting it over with is good for business. by the end of trading day yesterday, goldman stock was up more than 5%. >>> the eyes of the tech world will be focused on apple as they hold a news conference. while apple execs have not said what it will be about, they are expected to address complaints the latest

hong kong's hang seng gained 1% while the nikkei finished down a fraction. today fed chief ben bernanke delivers his monetary report to congress. tuesday, wall street stocks finished higher. the dow rallied 75iloints while the nasdaq gained 24. >>> apple's earnings report did not disappoint. after the market closed the company said revenue rose to almost $16 billion last quarter, a 61% increase over the same period last year. and despite the highly publicized antenna issues on the latest iphone, sales were much better than expected with nearly 8.5 million sold from april to june. >>> another stumble for the housing market. new home construction sank 5% last month to the lowest level since october. there was some encouraging news, however. building permits, which are an indication of future building activity, rose 2%. >>> and the bisc is back the soup stand that inspired the infamous soup nazi episode on "seinfeld" reopened after a 60s-year absence. it's a lot more expensive than it used to be. and the soups are no longer made on premises. but have your money

hong kong's hang seng was up 2%. wall street gets the june durable goods report. tuesday, a drop in consumer confidence slowed the market's winning streak. the dow gained 12 points, but the nasdaq lost 8. >>> homeownership is now at the lowest level in a decade. according to the census bureau, about 19 million homes stood empty in the u.s. this spring because of surging foreclosures. homeownership rates were the highest in the midwest but lowest in the west. >>> the white house will hold a conference next month to discuss the future of mortgage giants fannie mae and freddie mac. together they own or guarantee about half of all u.s. mortgages. the two companies had to be bailed out during the financial meltdown and it cost taxpayers $145 billion so far. >>> general motors has put a price tag on its new electric car. the volt will cost $41,000. but a federal tax credit will shave about $7,000 off that price. chevrolet is already taking orders for the volt, which runs on battery power with a small gas engine for backup. the official launch date is in november. >>> an

japan's nikkei added more than 2%, snapping a five-day losing streak while hong kong's hang seng gained just about 1%. today wall street gets another wave of corporate earnings with ford, mcdonald's and verizon among the big names to report. thursday the market soared. the dow gained 201 points. and the nasdaq tacked on 58. >>> the checks will be in the mail for 2.5 million unemployed americans. president obama signed an extension of jobless benefits into law thursday after congressmen finally passed it. it effects only the long-term unemployed and applied retro actively. >>> the government's pay czar is taking aim at wall street. today kenneth feinberg will release a list of banks he has determined paid their executives too much while the financial system melted down. according to the associated press, he will single out jpmorgan chase. this review is likely to be feinberg's last before he leaves the treasury department to focus full time on bp claims in the gulf. >>> general motors is jumping into the subprime lending business. thursday they bought americredit for $3.5 billion. a comp