News Wrap: China Dealing With Large Oil Spill

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• HARI SREENIVASAN:

  Crews in Northeastern China struggled again today to contain the country's largest oil spill on record. It was caused by a pipeline explosion a week ago at the Port of Dalian on the Yellow Sea. The pipeline has been repaired, but thick crude oil has contaminated nearly 165 square miles of water. Thousands of Chinese troops are trying to capture the oil, but with buckets, shovels, and even their hands. Widespread flooding paralyzed the Milwaukee, Wisconsin, region today. Storms dumped more than seven inches of rain in just two hours last night. Milwaukee's main airport was closed for much of today as crews cleared water off runways. Dozens of flights were canceled. Near the downtown, a giant sinkhole that measured 20 feet deep and 15 feet wide swallowed an entire Cadillac Escalade. The city's public works commissioner said there was too much water too fast.

  JEFF MANTES, Milwaukee, Wisconsin, public works commissioner: It was a result of a — essentially a manhole collapse. Once that happened, the soil scours away. It becomes like a big drain, just like in your sink. Water just keeps draining in there, wiping out more and more soil. The pavement finally buckled.

• HARI SREENIVASAN:

  Another wave of thunderstorms was forecast for southern Wisconsin today. Wall Street closed out the week with another rally. It was fueled partly by upbeat reports on European banks and U.S. corporate earnings. Those included Ford's profit of $2.6 billion in the second quarter. The Dow Jones industrial average gained 102 points to close at 10424. The Nasdaq rose 23 points to close at 2269. For the week, the Dow gained 3 percent; the Nasdaq rose 4 percent. North Korea today threatened the U.S. and South Korea with a — quote — "physical response" over naval exercises planned for this weekend. The threat came as U.S. Secretary of State Hillary Clinton was in Vietnam attending a regional security forum.

• SECRETARY OF STATE HILLARY RODHAM CLINTON:

  It is distressing when North Korea continues its threats and causes so much anxiety among its neighbors and the larger region. But we will demonstrate once again through our military exercises, as we did when Bob Gates and I visited in Seoul together two days ago, that the United States stands in firm support of the defense of South Korea.

• HARI SREENIVASAN:

  The U.S.-South Korean exercises this weekend come four months after a South Korean warship was sunk. International investigators found, a North Korean submarine torpedoed the ship. The North Koreans have denied it. Longtime reporter and commentator Daniel Schorr died today at a Washington hospital. He spent 23 years with CBS News. And, in the 1970s, his reporting on the Watergate scandal landed him on President Nixon's enemies list. In 2001, he spoke with Terence Smith on the "NewsHour," and recalled learning about the list at the Senate Watergate hearings.

• DANIEL SCHORR, reporter:

  And I was handed a copy live on the air, had never seen it before, read it. And there it was, from John Dean to H.R. Haldeman, subject, on screwing our political enemies. This is a priority list of 20. And I read down the list, at 17 came to my own name with the notation next to it, "a real media enemy." I read it without comment. I just tossed it right back. I wanted to collapse.

• HARI SREENIVASAN:

  Schorr also worked for a time at CNN, and later became senior news analyst at NPR. Daniel Schorr was 93 years old. Those are some of the day's major stories — now back to Jeff.