London (CNN) – As spring-time rain flooded London's streets and uncomfortable soundbites emerged from the Leveson inquiry, the UK government faced further misery: The UK is back in recession.

The revelation - a psychological blow, even if the figures are later revised up - will increase pressure on David Cameron’s government, already under pressure from the probe into its relationship with Rupert Murdoch’s media empire.

The “double-dip" recession is a loose phrase, but this slump is close enough to the 2008/2009 contraction to warrant the dreaded term. The last time the UK was in a double-dip recession was in the 1970s.

FULL POST

Editor’s note: The Millennials are a generation that are constantly plugged in and moving fast to make their mark on the world. CNN’s Quest Means Business is tracking four of them.

Hong Kong (CNN) – Apple, the world’s most valuable company, nearly doubled its profit in the last quarter based on stronger-than-expected iPhone sales, according to CNNMoney.

The company beat analyst predictions thanks to 35.1 million iPhones sold worldwide from January through March. To help put that figure into perspective, CNN’s Katy Byron spoke to Gene Munster, a senior analyst who covers Apple at Piper Jaffray. A quick breakdown:

• Apple sold an average of 385,000 iPhones per day the past quarter
• That’s 16,000 handsets sold each hour a day
• An average of 5,400 Apple’s iPads left the shelves per hour

FULL POST