people listed as missing and the police are using all sorts of devices to try to find them including a mini submarine, but the death toll is at least at 86 as you said. anders be anders behreng breivik will be appearing in court. he'll be pleading not guilty so he'll get a chance to explain his extremely right-winged ideologies in court. that's why a lot of people are asking that this be a closed hearing. the police, for one, has a facebook page asking that no one be admitted into the courtroom so he doesn't get this kind of platform to air his views. already 60,000 members on that. i talked to people this morning about it and they said everything has gone his way so far and this must stop. also another piece of news just to bring you now, zain, is that it has been confirmed that an off-duty policeman stationed on the island fro text the people on the island earlier on was actually the half brother of the crowned princess of norway, zain. >> cnn's diana magnay. thanks a lot, diana. i'm zain verjee with cnn london. "world business today" starts now. -- captions by vitac -- www.vitac.com good morning from cnn london. i'm charles hodson. >> and a very good afternoon from cnn hong kong. i'm manisha tank. this is cnn on monday, july 25. the united states is closer to defaulting oven its debt. putting a face on the case. dominic strauss-kahn's accuser goes public. tying the knot in new york, they legalize same-sex marriage. well, there's still no deal to raise the mighty u.s. treasury's debt limit and time is running out with only eight days with united states left stricken, unable to pay its bills. treasury secretary timothy geithner has good reason to worry. if they don't come up with a framework by monday night, washington will not make the deadline of august 2nd to avoid default. the pressure is on. we have a report as the sun set on yet another day of stalemate as both frustration and concern in washington. >> reporter: it's just hours till markets open in the u.s. and all eyes are on washington to see how they react. they sense frustration and concern. you know, the president himself said if the markets take a hit, if the u.s. economy takes a hit because congress could not make a deal on the debt ceiling, that is a self-inflicted wound, one that could have been avoided. and at this hour there is no clarity that a deal will happen by the time the sun comes up in the morning. >> that's jessica yellin. well, this was the scene in the white house over the weekend as the lawmakers struggled to come to an agreement over the best way to move forward. as it stands right now, there's still a deadlock in washington with neither side wants to budge. let's introduce you to some of the key characters. h harry reid says he's preparing a proposal to raise the debt ceiling through next year and cut through $7 trillion of debt. the democrats want to raise the ceiling enough so the issue won't come up again until after the november 2012 election. on the other side, cnn understands house speaker john boehner wants to stick to the principles of cut, cap, and balance bill that the house passed last week. that would proprovide for two smaller incremental rises had the senate not rejected it. so it remains to be seen whether the two sides can come to an agreement before the deadline falls. as charles said, the clock is very much ticking. if congress fails to act, the u.s. could run out of money in eight days' time and that could have serious consequences around the world, but speaking in hong kong, just a couple of hours ago u.s. secretary of state hillary clinton says she is confident that an agreement will be reached. >> i well remember the government shutdown of the 1990s. i had a front row seat for that one. but this is how an open and democratic society ultimately comes together to reach the right solutions. so i'm confident that congress will do the right thing and secure a deal on the debt ceiling and work with president obama to take the steps necessary to improve our long-term fiscal outlook. >> well, the effects of that deadlock are being felt outside the united states and very specifically on the financial markets, exactly what the house speaker john boehner was hoping to avoid. let's take a look at how things finished in asia. this is the first chance that markets, of course, have had a chance to react to the breakdown of this week's talks. hardly well as you can see. shanghai composite the biggest loser, almost 3%. local factors playing a part as well in that. clearly off three quarters of a percent. nikkei, nearly that. and, again, big difficulties with the sydney s&p 200 by more than 1%. let's move over to europe. we're a touch into the hour on the trading day. a decent run-up on some of these markets in the course of last week, off by -- well, actually only a fraction of a percent now. it has been more than that, half a percent for the cac. in the united states markets clearly opened -- will be opening in less than five hours' time and we're looking to a lower start as well. off by 1%. certainly a little pessimism. maybe some optimism mixed in. we will, as hillary clinton says, see a deal in the course of day or the next day or two. >> yeah, it will be interesting to see how the european markets pan out as well and how it affects the u.s. futures. you know, this talk of possible default is actually sending some investors to safe havens like gold for example. hitting a record high of $1,617.30, now it's $1,617.30. the oil price pulling back just a tad over the back of what's going to happen to the u.s. economy and demand for crude. charles. >> hmm. now, if hillary clinton is right and a deal is just around the corner, then possibly today it might be time to take profits on gold. but how big an "if" is that though? stocks have been fine this week until the realization that there's still a stalemate in washington. joining me is a trader at etx capital. it looks to me as if the market reaction in europe is fairly measured. does that reflect optimism that there will be a deal struck in the next few hours? >> absolutely. a deal will be struck. maybe not in the next few hours but it's going to be taken to the brink. the deadline is august 2nd next week. it could be taken right to the wire, right to the weekend. but in the meantime we're likely to see increased volatility in equity prices that could take off a little bit and bounce back. the ftse 100 this morning is remarkably robust given the situation going on in the u.s. as you mentioned gold continues to go high. it's the asset class of choice at the moment, irrespective of whether there's inflation in the economy. money seems to be flowing into gold. >> there's the sovereign debt crisis and that's the fact that moody's agreed to increase its sovereign debt rating again. we saw a bit of a rub-up last week in stooks. if you're right about there being a deal in washington in the next day or so, presumably we could get back to that run-up, could we? >> we could quite well, but i think with regards to greece, what we're seeing is a situation whereby it's all been fairly well factored in where we know greece is going to have trouble paying back its debts, when income tax revenues are fairly nonexistent, the debt is likely to continue to be downgraded. i feel the similar sort of thing for the u.s. as well where it could be subjected to down grades. but it's in a lot loss compared to any other european nation. >> let's look at this. the corporate sector. we're seeing pain there oddly with caterpillar pacific northwesting disappoint iing results. disappointing results just this morning from ryanair and we're going to be hearing from senien executives later on. >> we're waiting for the corporate numbers to move in line with the economic numbers that we saw coming out in the last few weeks. they were relatively soft. the corporate numbers are coming in slightly lower. there have been more beats than misses but the coming is coming as expected. it's a question whether they'll continue to be weak in forthcoming quarters as well. ryanair, you mentioned, they did slightly worse but they're seeing an increasing profit, increasing number of passengers traveling on the airlines. the whack that they're taking is from higher fuel costs and if fuel continues to remain abouv $100 a barrel which is around the level ryanair hedged they could continue feeling that pain forthcoming quarters. >> many thanks. manisha. >> good stuff. thanks, charles. she's the hotel maid who accuses the former director of the international monetary fund of rape. now at last we can tell you her name. you'll see why she's decided to go public. from cnn hong kong and cnn london this is "world business today." until now we never knew her name but the woman who accused former imf chief dominique strauss-kahn is changing that. she's going public with her identity. susan can't candiotti has more on what he said -- she said. >> nafissatou diallo is now breaking her silence, telling for the first time in her own word as what she alleges happened to her in the hotel sofitel back in early may when she charges that dominique strauss-kahn sexually assaulted her. he has pleaded not guilty to these charges. cnn's policy has been not to i identify the names of victims but now that she's said her name publicly, cn is identifying her. we're hearing from her for the first time in her own words what has happened. she tells "news week" magazine when she entered the hotel room she yelled out hello, housekeeping and heard nothing. she saw a naked white man walk out of the bathroom and said, quote, oh, my god, i'm so sorry. he said, according to her, you don't have to be sorry. but she said he was like in her words a crazy man to me and then she says he allegedly began to attack her. now, she also told abc news, quote, i want justice, i want him to go to jail, i want him to know there is some places you cannot use your money, you cannot use your power when you do something like this. now, the lawyers for dominique strauk kahn are shooting back a statement, calling her in their words the first accusener history to conduct a media campaign to persuade a prosecutor to pursue charges against someone else and they call the conduct of her lawyers unprofessional. now, that prompted a statement in return from the lawyer representing the maid saying that dsk's lawyers are the ones who have been starting a smear campaign against the motel made. so there's been a lot of back and forth going on. that in turn prompted a comment from the lawyer representing the maid and he said it's strauss-kahn's lawyers who are conducting a smear campaign against his client. the next time strauss-kahn is expected to appear in court is one week from monday. the district attorney's office says it is still investigating the case. they're concerned about some credibility issues with the maid's case but they're not sure what to do yet. well, let's stay in the united states but move south because investors aren't the only ones keeping a close eye on the u.s. debt talks. in a few moments we'll go to the heartland where they say crisis is bad for biz. that's next on wbt. can be even more powerful, with precise pain relieving cream. it blocks pain signals fast for relief precisely where you need it most. precise. only from the makers of tylenol. discover aveeno positively radiant tinted moisturizers with scientifically proven soy complex and natural minerals. give you sheer coverage instantly, then go on to even skin tone in four weeks. aveeno tinted moisturizers. welcome back. you're watching "world business today." we're live on cnn. >> well, the debt drama playing out in washington is affecting businesses. caterpillar, one of the world's largest construction equipment companies is considering a good gauge on activity. investors discovered that when it startled wall street last week with worse than expected results. he says the continuing arm on the debt limit is holding investors back from investing. >> the united states is slow and the recovery is slow than any we've seen, you know, in a long, long time coming out of recession. we sure thought we'd be further along this day and it's worrisome. of course, the buzz this week in washington and i'm sure next week is not going to restore confidence. we've just got to get past the debt ceiling, get it behind us, get it raised, get on with substantial discussions with deficit reductions, taxes, tax reform. we're really worried about lack of progress on free trade agreements. lots of things are tied up as they grapple with this really tough debt ceiling issue. >> you had some pretty strong words for those in washington that are trying to deal with that debt ceiling concern as it continues. do you think they're listening? i mean this really is a problem for business confidence and companies frankly investing back into themselves. >> well, i think they're listening. i think what we're seeing here is a political system that's deadlocked. i think in many ways it's a reflection of the discussion going on in america. and it's long overdue. we've spent the money. now the piper's to be paid, and how are we going to pay it and nobody wants to pay it. i think that's a reflection of what's happening in washington. it's late in the game, driving uncertainty for all of us. customers i talk to are worried about this. i talk to customers a lot. our customers work around infrastructure. in this country they build infrastructure. if they don't see a feature for infrastructure, what do they do with their companies. if i'm worried, they certainly are as well. as soon as we get this all behind us, we'll all be better off, i'm absolutely convinced. >> let's take this and broaden it out to an international perspective and go to china which is also seeing some softening. softening for them is what? 9% gdp? >> yeah, yeah. i would love to see a softening of 9% anywhere. but in all seriousness, i think we all knew china's economy was overheated and has been for a couple of years but china's initiative to get inflation under control easterly in the days and bring it back under control, i'm all for it. it will benefit us, the chinese, our company, and for that matter everybody else in the world as soon as they can get that under control. the slowdown backs up things on the rest of the world but i think it's healthy in the medium and short term. maybe not so much in the short term but medium and long term -- i mean long term will be good for us. #% is better than this 13%, 14% we've seen the last couple of years. i applaud them. they need to take it to that level. >> from caterpillar ands he company posted lower than expected earnings last week just to recap that. by nearly 6% despiter recording second quarter earnings that surged 44%. of course, this was the crucial thing. they still fell short of projections manisha. >> yeah. expectations counting for so much. well, back in asia now and it seems that tropical cyclone is getting closer to the philippines and may eventually have its sights on hong kong. meteorologist ivan cabrera is tracking the storm in the weather center. ivan, it's definitely that time of year. what kind of destruction could this lead to? >> it certainly can. by friday afternoon it could be right on top of us. i don't think it's going be a monster storm, but never theless still impacting us. have the cluster away from the center of sicirculation, which the "l" right here. the winds are -- have picked up a bit. 56 kph right now and we're looking at movement to the northwest at around 17 kilometers per hour. this is the official tracker of the warning center. this could track further to the south or further to the north and east, but we'll watch it closely. this is day three. about day five we'll put it in northeastern hong kong if we're looking at the correct guidants right now. but on our computer model it's showing northeast as opposed to northwestern. for all intents and purposes this is going to be a big rainmaker. look at this. 250 millimeters not out of the question. that could certainly cause some flooding widespread across the philippines. there's td-10. a chance of high development well to the east of new guinea. we'll watch that for the philippines next. but at this point this is going to be the main player. big thunderstorm activity. you saw the horrific story coming out of eastern china earlier in the week with the crash of the bullet train due to lightning strikes and the second train not knowing about it and rear ending it. this is the frontal boundary that's draped here. as long as that's the case, we're going to bundle up the thunderstorm activity through the afternoon. ite going to push to the east over the next couple of days. europe the big story. this trough across the west, big ridge across the east and that means a heat wave for moscow. temperatures here are going to be in the mid-30s, and in the middle we're going to be talking large hail, strong winds and heavy rain as the thunderstorms continue to intensify. manisha? >> ivan, thank you very much. keeping us ahead of the weather systems. much appreciated. now, the debt uncertainty in the united states is sending shudders through markets around the world. that's just ahead. from cnn london, i'm charles hodson. >> and i'm manisha tank at cnn hong kong. a warm welcome back to "world business today." well, let's check in on european stock markets now. about one and half hours in to trading, and here's how things are looking. the -- a lot of negative factors here, disappoints results from ryanair. we're seeing the continued stale mates in washington and a downgrading of greek debt by moody's. three notches from ca to ca-1. look at the numbers off by -- sorry. i guess you managed to read those numbers, though i didn't actually. thank you. moody's up two and a third percent. a third and a half percent for both the dax and london ftse and what moody's said about greece is the chance of a greek default, is quote, virtually 100%. more on ryanair, before the markets opened it reported a rise in first quarter profits to just shy of $2 lunn million. that was less than expected. ryanair sales were up 29% but rising costs, particularly the cost of fuel, ate into its bottom line. the last time i looked a short time ago, share price down 2.5% in london. about an hour ago i spoke to ryanair's chief financial officer, ryan miller. i asked about the disappointing results. what went wrong? howard miller, this is clearly a result which seems to disappoint the market. your shares are down in terms of the price. what went wrong? >> well, thing what happened was we just had come out with our results eight weeks ago and we maintained our guide amounts. net profits will be 400 million euros this year and i think unrealistic expectations so i think the analysts will have to recalibrate our model. >> isn't it your job as cfo to make sure the expectations to make sure that this calamity doesn't happen? >> we haven't changed our outlook on the market. the survey has a few outliers who have unrealistic numbers in it. we can't decide what the market wants, we can only tell them what we deliver and we have kept our promises, which is my job, to ensure that we deliver the numbers we have guided to the market and we're on track to do that. >> okay. well, in terms of the future looking forward, clearly there are difficulties, there have been difficulties, high fuel prices and so on. and the broad state of the economy is not really improving, seas certainly not very fast across the whole of europe. looking forward are you relatively pessimistic? >> actually we're quite optimistic. we think that consumers will become more and more focused on value for money, and that's what we offer with the lowest fares right across 27 countries and europe. so we thing that what