sara payne was contacted last night to be told her details were in the notebooks of a phone hacker. in a statement it said, sarah is absolutely devastated by the news. we are all deeply disappointed and just working to get her through. the last night of "the news of the world," its last edition, sara payne had been previously told she was not a hackings victim. she had agreed to write an article for the formal budget former issue. she described the tablet as a force of good. >> we have had a series of tragic news stories. >> rebecca brooks, former editor, describes her pain as her dear friend. they worked together to campaign for sara's law, the public right to know where pedophiles are living. tonight, rebekah brooks said the allegations are a port and upsetting. the idea that anybody on the newspaper knew that sarah payne at or target it is unthinkable. the campaign began in 2000. the man was arrested in 2006. it is not known when he obtained the phone information, whether he intercepted her voice mail and who may have requested it. but it was -- but if it was "news international,

sara payne had defended the tabloid, even writing the last edition, and calling it a force for good. >>> there's been some break for the rain-soaked korean peninsula, and the clean-up is under way. huge tract ts of farmland are flooded in northee kra and about half a meet over rain poured down on the south korean capital in just 48 hours. at least 51 people died in floods and mud slides. those are the headlines. i'm zain verjee, and "world business today" starts now. -- captions by vitac -- www.vitac.com >>> a very good morning to you. from cnn london, i'm nina dos santos. >> and a very good afternoon to you from cnn hong kong. i'm manisha tank and it's friday, july 29. >>> the deadlines get closer and closer. >> and while washington remains in deadlock, what do investors and analysts have to say? we hear from some of the experts. >>> and if the u.s. does miss that deadline, the question is what happens? we'll be taking a look at the possibilities. >>> so we're getting closer and closer, yet another day passes, and it's the same old story in washington. there's still no awe agreement

. -- sara payne as her dear friend.onight, rebecca burk said these allegations are abhorrent -- rebecca brooks said these allegations are abhorrent. the sarah's la campaign began in 2000. glenn martarello was arrested in 2006. it is not known when he obtained her information or who might have requested it. if it was news international, this was the reaction of one mp. >> news international did not just campaign for sarah's law. they produced literature, campaign materials, took her to party conferences and introduce her to party politicians. i see this as the ultimate betrayal of trust. >> the newspaper hackers provided the mobile phone. it may be the one targeted. but sources linked to mrs. brooks said the voice mail on this loan was not activated until 18 months ago, suggesting there were no messages. today's allegations surfaced hours after lord justice levenson said his judicial inquiry could begin while the police investigate. >> it should be possible to focus on the extent of the problem, in a way that will not pr

and sara payne says police found evidence a private investigator convicted in 2007 of hacking phones matter seriously as the facts are establishmented the company will take all appropriate actions including cooperating fully with any potential criminal inquiries or civil proceedings which may arise. >> a long way from over. >> bad. horrific. >> down to wall streept now. the ceos of goldman sachs, bank of america and jpmorgan chags among others urging action on this debt deal. in a letter dwroyesterday to congress and the white house the ceos wrote in part a default on our nation's obligations or a downgrade of america's credit rating would be a tremendous blow to business and investor confidence. therefore, dramatically worsening our nation's already difficult economic circumstances. a check on business before the bell now with cnbc's simon hobbs, live at the new york stock exchange. good morning, simon. what's going on down there? >> it's not a good morning, i'm afraid. with the last few minutes in addition to all the other problems we've had, shocking, i rarely use that word, shock