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Head of Scotland Yard Resigns Amid Hacking Scandal

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    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 5:08
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-- -- -- -- -- -- -- -- -- Good morning everyone the phone hacking scandal surrounding news international continues.

-- she Webster's in London with more actually what's the latest.

Yet Diane we are actually waiting to hear from a professional accountability committee with Scott -- of the metropolitan police force here in the UK there are expected to make a statement regarding.

Deputy commissioner John.

Phone hacking scandal has been questionable waiting to see what will be said about him.

Of course for this comes in the wake of further ahead of Scotland -- -- -- Stephenson who resigned over the weekend because it is.

Ties to one of the executives from use of the -- That paper subsequently was shot down in the wake of the hacking investigation now tomorrow.

The culture media and -- committee will be conducting an investigation that set to testify is Rupert Murdoch chairman and CEO of News Corp.

His son James Murdoch also chairman of news international that is expected to begin at 9:30 AM eastern time tomorrow.

I'm vitally News Corp.

is the parent company -- Fox Business Network.

Also scheduled to testify tomorrow at 10:30 AM -- is Rebecca Brooke she is the former chief executive of news international.

She resigned her post last week.

Was arrested over the weekend and released late last night off to twelve hours of questioning her lawyer Stephen parkinson's says the brooks is not guilty of any criminal offense and is willing to -- -- questions meantime.

British prime minister David Cameron in Africa right now is gonna cut short that trip to come back for special session of parliament he says on Wednesday Diane.

-- -- -- -- -- Meanwhile here in the US two weeks away from the deadline and Republicans and Democrats seem to be even further apart and a debt deal.

There's several plans out there but none seems to have enough support to get -- just yet.

The talks reportedly moving -- on quote multiple tracks.

The president however is said to still be holding out hope for a grand deal with several trillion dollars in cuts over ten to twelve years.

We're thirty minutes away from opening bell on Wall Street and taking a look at futures right now they are down across the board and have been all morning but -- off their earlier lows Dow futures are down 79 points.

The S&P is down eight and the NASDAQ down thirteen now for preview of the trading day let's go over technical at a leading on the floor of the New York Stock Exchange good morning ago.

Good morning -- good morning everybody well a lot of traders are talking about school right sixteen hundreds.

Odd dollars a Troy ounce we still having to digest -- -- our sovereign debt abroad -- -- here at home just a lot of juggling going on.

Plastic of course we snapped two weeks of gains and then last week.

Pulled back a little bit so what are we had to be looking at this morning with some of those European banks are under pressure again keep an eye -- names such as Deutsche bank and UBS.

Coming under pressure after those stress tests that we talked about -- -- not.

Let's talk about also some names in Barron's over the weekend a lot of folks are -- and they come in and they make their moves.

One that was talked up positively about was that -- -- brand underwear clothing.

You know -- -- will turn that they've been -- -- to raise prices revenue was on the on the rise up 24%.

They're expanding and sales in emerging markets are doing very well there on the other hand looking at -- networks you know -- -- -- -- on penthouse.

Magazine an -- -- affiliated.

With about 250000.

Web sites some dating some a little more explicit.

However that being said it turned out after a few months people -- out of the website so I'm not getting the staying power that they may have hoped for.

Clorox -- but I am now and we talked about Carl Icahn's and just last week.

Now looks like got another possibility that they may spin off.

The dressings we talk about hidden valley ranch that they may spin off that's section so we'll continue to watch that story was also getting an upgrade of reference in this morning.

-- -- -- -- The US economy is now predicted to grow more slowly than economists first thought.

That's according to the national association of business economics only 11% of economists surveyed think GDP growth for 2011 will be above 3%.

Twice that many think it will be below 2% and those are some big changes from the last survey.

Now let's get the latest on weather from meteorologist -- I'm -- good morning Maria.

Hi good morning -- and good morning everyone the big story today is that heat yet again -- high pressure system taking shape over the senator.

Other nation and that's bringing in temperatures today as high as -- upper ninety's or even triple digits for some.

And that he will also continue to build east work 92 will be the high.

Today across the city of New York otherwise -- advisories in place because when you factor in the humidity it feels even hotter some heat index values could reach a 115 degrees.

And we're also going to be watching some thunderstorms across the northeast and Great Lakes region which could -- severe later on today to hand.

115.

Degrees but failed GAAP basic I'd -- a lot of bottles everybody can now let's go over take a look at commodities oil gold and silver are mixed gold back above the records over its.

Above 16100 Imus in the morning continues right now on --

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