July 19th, 2011
06:16 PM GMT
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London (CNN) – If we were looking for News Corp. CEO Rupert Murdoch to give detailed answers to questions about alleged misdeeds at one of his subsidiaries, we did not get them.

"You had a hands-off approach," to the News of the World, committee member Philip Davies said to Rupert Murdoch.

The 80-year-old disagreed, saying he had his hands full "10 to 12 hours a day" overseeing an international company with 53,000 employees, and admitted that News of the World was less than 1% of his business, and that "maybe I lost sight of (it)."

"There was no excuse to break the law" at his newspapers, said Murdoch. "I was brought up by a father ... who was a great journalist. He ... bought a little small paper ... to give me a chance to do good ... to expose the scandals. Of which I am very, very proud of."

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July 19th, 2011
03:18 AM GMT
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(CNN) – So gold has broken the $1600 barrier – a significant price milestone.

But as sure as we talk about it this week, we’ll likely be talking about another hundred-dollar price jump again soon as global investors head for safe havens. That’s because 2011 has been packed with crises of confidence around the world – and we may be in for more.

Simply put, crises are to the price of gold as matches are to bottle rockets: One makes the other go pop.

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