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 July 11, 2011 Afternoon Update |
 TOP NEWSThe CaucusObama Raises Pressure for Ambitious Budget PlanBy MICHAEL D. SHEARPresident Obama said that he was continuing to push for "as large a deal as possible" as he challenged Republicans to live up to their demands to cut the deficit. Markets Tumble on Europe's Debt CrisisBy CHRISTINE HAUSERFinancial markets reflected rising fears that Italy could become the next victim of Europe's debt crisis. Italy Evolves Into E.U.'s Next Weak LinkBy LIZ ALDERMAN and RACHEL DONADIOA power struggle between Prime Minister Silvio Berlusconi and his finance minister, Giulio Tremonti, is threatening to turn Italy's economy into a liability. 100 Dead, Many Children, in Boat Sinking in RussiaBy ANDREW E. KRAMERShortly before a riverboat on the Volga went down, children had been moved into an interior play area. Drought Spreads Its Pain Across 14 StatesBy KIM SEVERSON and KIRK JOHNSONA drought that some say could rival the Dust Bowl has spread from Florida, where severe water restrictions are in place, to Arizona, where ranchers could be forced to sell off herds of cattle. |
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BUSINESSEuro-Zone Finance Ministers Speed Search for Greek SolutionBy STEPHEN CASTLE and JACK EWINGWith uncertainty about new aid for Greece sparking fears that the debt crisis may spread, the ministers are focusing on how the private sector can help. DealBookNestle to Buy Control of a Top Chinese ConfectionerBy BETTINA WASSENERThe deal, one of the biggest ever by a foreign company in China, will expand Nestle's presence there while giving Hsu Fu Chi a bigger international footprint. A Top British Leader Urges Murdoch to Drop TV DealBy JOHN F. BURNS and ALAN COWELLThe deputy prime minister urged Rupert Murdoch to drop a bid for British Sky Broadcasting as reports said Murdoch newspapers had used underhanded methods to get information on Gordon Brown. DealBookPeabody and Arcelor Seek Control of Macarthur CoalBy CHRIS V. NICHOLSONPeabody Energy and ArcelorMittal are offering 15.50 Australian dollars a share to take a controlling stake in Macarthur, a deal that values the coal miner at $5.1 billion. DealBookLi Ka-shing Group Offers $3.8 Billion for British UtilityBy JULIA WERDIGIERNorthumbrian Water, a British utility, said on Monday that it had received a takeover proposal worth $3.8 billion from a company controlled by Li Ka-shing, Hong Kong's richest man. |
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