The search continues for missing cargo ship the Arctic Sea. The ship was carrying timber worth $1.8 billion from Finland and was last seen off the coast of France. The crew reported being boarded by 12 armed men as it passed through the Baltic Sea, but later reported that the men had left in an inflatable boat. Before loading in Finland, the ship, which has a 15 member Russian crew, sat for two weeks at a port in Kaliningrad, Russia leading some to speculate that unrecorded Russian cargo may be aboard or that the ship is part of a Russian commercial dispute, BBC News. Breaking: Reports that the vessel has been spotted near Gibraltar and is being shadowed by a Russian warship, Al Jazeera.
A South Korean Hyundai worker who has been held by North Korea for nearly five months has been released. Yu Seong-jin, work is a technician at a joint Hyundai Asan park that uses North Korean labor. Yu was accused of criticizing North Korea’s political system. North Korea also claims he was trying to persuade a North Korean woman to defect. The chairwoman of Hyundai Group, Hyun Jung-eun, traveled to Pyongyang to secure his release, Yonhap.
Germany and France both saw .3% growth in the second quarter, indicating that Europe might be pulling out of recession, Reuters.