Top news: Chinese economic growth slowed to 7.5 percent in the second quarter of the year amid efforts by the country's new leaders to rein in credit and pivot toward reforms.
Monday's economic figures are the second straight quarter of weaker economic growth in what is the world's second-largest economy and came on lower investment and declining trade figures. Growth in industrial output compared to a year ago fell to 8.9 percent from 9.3 percent in May, and for the first time in a year, exports declined in June.
But there is no sign from the Chinese central government that they plan to intervene in the economy and inject more stimulus. The government has set a growth target for 7.5 percent for 2013, and Monday's economic news raises the spectre that the country could miss it, which would be the first time since the Asian financial crisis that China has not met its stated goal for economic growth.
"I think the second half will be even weaker. The government's tolerance
for slower growth is definitely higher," Zhu Haibin, a JP Morgan economist, told the Financial Times. "Seven per cent is probably the
Bangladesh: Ghulam Azam, the 91-year-old former leader of Bangladesh's largest Islamist party, was convicted and sentenced to 90 years in prison for war crimes during his country's 1971 war for independence. During the conflict, Islamist militias under the umbrella of Azam's organization, are alleged to have been responsible for widespread civilian casualties.
- Deputy Secretary of State Bill Burns is set to meet with Egypt's military-backed government as Morsy supporters continue to rally in the streets.
- Prosecutors have begun a criminal investigation against deposed Egyptian President Mohammed Morsy.
- At least 33 people have been killed and 100 wounded in a series of bombings across Iraq.
- More than 5,700 people missing in flooding in the Indian state of Uttarakhan have been presumed dead.
- A woman thrown in a Chinese labor camp for requesting a tougher sentence for the men who raped, abducted, and prostituted her 11-year-old daughter won her appeal against her labor commission.
- Asiana Airlines said it will sue a San Francisco television station that reported a set of incorrect and racially charged names of the pilots at the controls of the plane that recently crashed there.
- Revelations that Mariano Rajoy sent supportive text messages to the treasurer at the center of Spain's slush fund scandal has the prime minister facing energized calls to resign.
- German Chancellor Angela Merkel vowed to push for a strong data privacy law on the heels of revelations of widespread espionage carried out by the NSA.
- Violent protests struck Northern Ireland for the second night as the country's traditional Orange Day parades went underway.
- NSA whistleblower Edward Snowden claims he has blueprints showing how the agency operates but insists that they not be released, according to Guardian journalist Glenn Greenwald.
- About two dozen prisoners held at Guantánamo Bay, Cuba, have given up their hunger strike, according to the U.S. military.
- Four men, including two policemen, were arrested in connection with the massacre of eight police officers at a remote outpost in Guatemala.
- Some 200 civilians were wounded in clashes between rival tribes in South Sudan.
- Human rights groups condemned Nigeria for hosting Sudanese President Omar al-Bashir and not arresting him on genocide charges.
- Over 30,000 people fled the Democratic Republic of the Congo after rebels attacked a border town.