On the Money Watch, Puerto Rico`s debt crisis grows, and a new airbag recall affecting millions of cars.

MORNING-NEWS-04 ...

NEWS-04

airbag recall affecting millions of cars.>

dollars in bond payments. Puerto Rico`s governor says the government can`t

pay the bonds without cutting essential services.>

On the MoneyWatch, Puerto Rico`s debt crisis grows, and a new airbag recall affecting millions of cars. Jill Wagner`s at the New York Stock Exchange with that and more. Good morning, Jill.

JILL WAGNER: Good morning, Anne-Marie. Today Puerto Rico will default on three hundred and seventy million dollars in bond payments. Puerto Rico`s governor says the government can`t pay the bonds without cutting essential services. Over the weekend eleventh-hour efforts to negotiate a deal failed. Nearly all of the bonds are held by U.S. hedge funds and mutual funds. Puerto Rico`s been in a recession for ten years. It owes seventy-two billion dollars.

Here on Wall Street investors are looking for more positive earnings reports this week. They`re also waiting for the April jobs report, which comes out on Friday. Last week the Dow lost two hundred and twenty-six points. The S&P finished twenty-six points lower. The NASDAQ was down one hundred and thirty points.

Another auto airbag recall--this time Nissan is recalling nearly four million vehicles. Nissan says a number of models are affected like the Maxima, Altima, LEAF, Sentra, Pathfinder, and some Infiniti models. A sensor in the front passenger seat incorrectly turns off the airbag. Another problem is specific to the Sentra. It causes airbags to inflate when they shouldn`t.

Sports Authority is, reportedly, closing all of its four hundred and fifty stores. The sporting goods retailer is ending its attempt to reorganize under Chapter 11. Now this is according to Forbes. Sports Authority filed for Chapter 11 in March. It`s over a billion dollars in debt.

And Disney`s The Jungle Book stayed atop the box office for the third consecutive week. The adaptation chalked up over forty-two million dollars in ticket sales. It has now taken in nearly six hundred and eighty-five million dollars globally. The Huntsman: Winter`s War, was second. And the Key & Peele comedy, Keanu opened in third. Anne-Marie.

ANNE-MARIE GREEN: Jill Wagner at the New York Stock Exchange. Thank you, Jill.

Coming up, princess party. We`ll have a rare look at Britain`s Princess Charlotte as she celebrates a birthday today.

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PRESIDENT BARACK OBAMA: Some foreign leaders they have been looking ahead, anticipating my departure. Last week Prince George showed up to our meeting in his bathrobe.

(Crowd cheering)

PRESIDENT BARACK OBAMA: That was a slap in the face.

ANNE-MARIE GREEN: A self-deprecating one-two punch for President Obama calling out two-year-old Prince George for his treatment of the soon-to-be lame duck President, calling the toddler`s attire a clear breach of protocol.

Well, George`s sister, on the other hand, is styled and profiled in a series of new photos taken by mom Kate, the Duchess of Cambridge. To celebrate Princess Charlotte`s first birthday, Kensington Palace released four new photos of the little one. Charlotte, who turns one today, is fourth in line for the English throne.

Well, the cast of Broadway`s School of Rock was thrilled by a visit from a visiting professor. Jack Black took in the show Sunday here in New York City and congratulated the actors afterward. He starred in the 2003 film that inspired the musical.

Coming up after your local news on CBS THIS MORNING, car-sharing programs by major auto companies.

I`m Anne-Marie Green. This is the CBS MORNING NEWS.

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ANNE-MARIE GREEN: Here`s another look at this morning`s top stories. More severe weather is expected today along the Gulf Coast. Large hail hammered Louisiana and flooding has left at least six people dead in Texas, where a tornado also touched down over the weekend.

And the Indiana primary is tomorrow. Donald Trump holds a double-digit lead over Ted Cruz and says if he wins tomorrow`s election, the race for the GOP nomination will be over. Hillary Clinton looked to reinforce her standing with black voters at an NAACP dinner in Detroit. Bernie Sanders has a chance to win in Indiana, but remains far behind Clinton in the delegate count.

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