Christopher Werth

The Jamaican sprinter Usain Bolt won yet another Olympic gold medal last night in the 200 meter sprint. The 25-year-old has declared himself a "living legend."

The scandal over British bank Standard Chartered is taking some interesting turns. This week New York's financial regulator charged the bank with concealing transactions for Iranian clients -- breaking U.S. sanctions against Iran. Standard Chartered could lose its New York license, which would be devastating.

It turns out that bad weather elsewhere in the world is affecting global tea prices. The cost of good quality, black tea has shot up 41 percent on the wholesale market this year.

The Bank of England forecasts this morning the U.K. economy will not grow at all in the coming quarter. Across the channel, the French central bank says the euro's second-largest economy is headed for its own recession. And Germany's being infected by all this through its exports, which fell in June.

Shares of the British bank Standard Chartered are tanking in London this morning -- down some 25 percent. New York financial regulators say the bank concealed billions of dollars of illegal transactions for Iranian customers.

The economy is complex so we use metaphors to make it understandable. Sometimes, though, these metaphors also shape our view of the economy.

The Commodities Futures Trading Commission may conclude an investigation into whether big banks have manipulated the price of silver.

It wasn't long ago that many thought India's growth rates could surpass those of its long-time rival, China. But China retains the upper hand in that relationship, thanks in part to its exports.

A singing group and the countries of the eurozone have much more in common than one might think.

Bankrupt Swedish carmaker Saab may have found a buyer. There are reports National Electric Vehicles Sweden, a company backed by investors in Japan and Hong Kong, may close a deal.