Global markets are reacting to a chill in China. The economy has cooled even further in the most recent quarter. The Chinese government says GDP grew at an annual rate of 7.5%. That's down from 7.7% in the first quarter of the year. It's also the ninth time in the last ten quarters that expansion has slowed. Still, the numbers were not as bad as many had feared, sending markets higher. Yahoo! Finance Editor-in-Chief Aaron Task has reaction to the report and the larger implications in the video above.
Retail sales for June came in below expectations. The Commerce Department says retail sales for the month rose .4% when estimates had been for .8%. They were up point-6 percent in May.
Back to China, four Glaxo Smith Kline (GSK) executives are now being detained in the country as part of a bribery case. Last week the Chinese government accused Glaxo's sales team of giving cash kickbacks and other perks for prescribing its medications. Now the head of economic crimes says money was beingRead More »from Effects of China Economic Slowdown; June Retail Jolt; Surface Price Drop; iWatch Woes