Phelps Drops 200-Meter Freestyle From Olympic Plan

July 2 (Bloomberg) -- Michael Phelps talks with Bloomberg's Mason Levinson about his decision to drop the 200-meter freestyle from his London Olympics swimming schedule and his plan to retire from the sport before the next Olympics in 2016. Phelps, whose 14 Olympic gold medals are the most in history, will race in four individual events for the U.S. in London -- the 100- and 200-meter butterfly and the 200- and 400-meter individual medley -- and make himself available for the three relays. (Source: Bloomberg)

American Airlines Said to Buy China Southern Stake
18:25 - American Airlines is in talks to acquire a stake in China Southern Airlines, according to a statement by Asia's biggest carrier by passengers. Former American Airlines Chairman and CEO Robert Crandall weighs in on "Bloomberg Daybreak: Australia." (Source: Bloomberg)
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