Terrorists. Thats from britains science chief as he slams u. S. Tech company for turning a blind eye to misuse of their services. And u. S. Voters head to the polls today with the key Midterm Elections deciding which Party Controls congress and whether there will be two more years of political gridlock in washington. Youre watching Worldwide Exchange, bringing you Business News from around the globe. And we have to kick off with our top story, which is oil today. Of course, its down 27 since it peaked in 2014. June and down over 10 since the start of october, down 1. 6 , as you can see so far today. Really, quite an astonishing move yesterday. In fact, it was up at the start of day when the saudis announced they were going to be increasing the price to the far east and then they announced they would be cutting to price to the u. S. Seeing a sharp selloff as we went through the course of the day. Even though i think theres a bit of complacency in the longterm oil price, in the shortterm
Without the signature of a judge. This week hostess now back on the chopping block. Are the unions trying to ruin the holidays and the economy for everybody . First up this evening tonight fed chairman ben bernanke gave a warning fix the fiscal cliff or we are headed for a severe recession, so far, no concrete proposals and i have to ask again, are we headed for a stalemate or can we find an economy saving Common Ground. Lets talk. We have abigail disney. Well have a sudden fiscal cliff . I worry about the damage that mighting done in fixing it. You dont think the tax increases that could come at the end of the year and the spending cuts of less 100 build, you dont think those would in deuce a severe recession and everybody on wastreet . They are not that big of rate increases so far. Welcome to the show and what would you do about it . They are proposing letting the bush tax cuts stand for everyone because the top 2 . If you raise them and closing the interest loop hole, fixing the es
Where the president makes comments that oh, my god. I dont know, we wont call them fascist comments and wont say look at these people squashed together. That its what autocrats do and say, but it is what autocrats do and say, when youre once again glorifying violence. And as the president s long done, you know, celebrated the fact that people could get hurt at their rally if they exercise their First Amendment rights. And of course, later on in the rally, the president , basically said a member of congress was not an american, that you know, the whole how is her country doing . Why is she telling us what to do in our country . Oh, my god. Im sorry, if thats not what fascists do, i would love for a professor or somebody who studies fascism to let us know if that is not the practice of fascist leaders, and if donald trump may not be trying to imitate them and working his crowds into a frenzy. Well go through the clips, but youre right, rarely do you see bigotry as explicit as it was, don
Years ago today. Happy anniversary to us. Im melissa lee with carl and jim cramer and david faber live from the new york stock exchange. Lets look at how were setting up after yesterdays rally. Particular strength in yesterdays rally. We didnt get housing starts, thats earlier today. As for the picture in europe, really the stand outout here is the euro. Greece getting a five notch upgrade at the s p. Our road map this morning starts with gm. Government motors no more. The treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. Another challenging quarter for fedex with the blame squarely on sandy. But the stock is up premarket. Oracle posts a Strong Quarter with Even Stronger guidance. The season rebound in europe. No impact from the fiscal cliff. And ge gets boosted from ubss key call list on the weaker than expected macro environment. Still on the list is including well tell you in a couple of minutes. General motors is up sharpl
So i told you theyre not cigarettes. Lets move on. Ooh. A little testy. Lets move on. I guess. So lets move on. Cigarettes or not. Nicorette. He grabs it every 15 minutes without failure. He is always chewing it. Who knows, mika. What do you think . Im with mike. Really interesting article on the front page of the New York Times about michelle obama. Whats that . The speeches hes been choosing to make where shes been choosing to make them in terms of speaking to young people and opening up about race and her success and also its an interesting piece. How she navigated all this and didnt enjoy all of it either but thats okay. Still tried to do so much. That high school was really a piece of herself talking. It was. It was her speaking to herself. Wow. To her years ago. A lot of news today. You say possibly some breaking news. I saw that piece. And also, of course, the big news the president sending more troops to iraq. So well start there. 4 auto 450 additional american troops prepare t