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Good morning everyone let's start things off -- -- live look at the markets in Asia they started the week off lower Chinese stocks.
Took their biggest -- since November of 2010 amid concerns that a cash crunch there will hurt growth in the world's second largest economy but China Central Bank.
Says the banking system liquidity is at a reasonable level as it urged lenders to control risks from credit expansion the Shanghai fell 5% the Hang Seng.
-- down 2% now in Europe.
German business confidence rose from dated June meeting expectations we do have red arrows there though London -- about 37 Paris.
A point short of that and Frankfurt is down.
Almost 84 and here in the US -- futures in the red Dow futures down triple digits.
And the S and -- done about twelve points nasdaq's down fifty in this comes after US stocks were mostly higher on Friday regaining some of their footing.
After a week a renewed angst over the Federal Reserve's eventual wind down.
Of stimulus efforts the Dow added 41 point CS and the NASDAQ -- lost seven and if you look at the week stocks were down for a second straight week the Dow fell one point 8% trimming its gain year to date.
The S&P fell more than 2% the NASDAQ was down 2%.
And Vodafone is looking to expand its presence in Europe the British company has launched a ten point one.
Billion dollar cash offer for Germany's biggest cable operator cable -- plan.
The proposal comes amid rising interest in cable assets in Europe cable Blake's plan last -- that Liberty Global also discussed a potential deal.
After recently completing its 24 billion dollar purchase of British cable and Internet provider Virgin Media.
Citigroup likes the long term economic prospects for Iraq.
The financial giant announced this morning that it plans to open an office in Baghdad making it the first American bank to have a physical presence there.
City says it has obtained a preliminary approval from Iraq's Central Bank.
Until now cities served its Iraqi clients through its office in Jordan.
Iraq will be the first new country -- group has expanded to since 2007.
And twinkie lovers your wait is almost over hostess says it plans have twinkies and other snack cakes on shelves.
Starting July 15 the company which went bankrupt last year is back up and running under new owners.
Hostess says the -- -- be the same but with a new tagline the sweetest comeback in history of ever.
Investment from metropolis and company along with Apollo global management teamed up to -- twinkies along with a variety of other hostess snacks.
Here's a look at commodities now oil and gold into the downside this morning -- down.
Thirty cents trading around 93 dollars a barrel falls down a little more than nine bucks at 1280 to announce Imus in the morning starts right now on Fox Business.
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