crash that killed singers buddy holly and others. there are hidden meanings up for interpretation in this american classic. we are just about an hour into the trading day and the markets are off to a pretty good start. want to bring in dominic chu. good morning. what are you watching today? good morning. i will take the $1.2 million manuscript, raise to $70 billion. that s the size of this oil and gas deal. royal dutch is going to pay $70 billion in cash and stock to make the deal. it is going to boost shell s oil and gas assets in places like australia and brazil make it a solid number two in the global energy sector behind exxonmobile. this would be the biggest deal in a decade in the energy industry, might lead to more deals in the future. a lot of traders are watching this closely in the energy patch. on the company front, we are watching aluminum giant alcoa.
a company that saw revenues rise 11% to $22 billion in the third quarter alone. and it is not just boeing. alcoa, the aluminum giant, received $5.6 billion from the state of new york, while nike took $2 billion. usa today notes redistribution goes to the rich as often as the poor. as this graphic shows, corporate taxes seen here in dark blue have fallen substantially over the decades, even as individual tax income rates have remained relatively static. if you listen to some people, what s the big deal? after all, everything corporations earn ultimately goes to people. corporations are people, my friend. we can raise taxes of course they are. everything corporations earn ultimately goes to people. indeed, governor romney. the earnings go to people, a
know, felt this is not right. it s because i see water right there. right there. right outside the window. i should not. i knew. i knew it was going to happen. so, i tried to hold on to, you know, whatever i could. it was long bang. the impact was so powerful. rah helped others and walked away with cuts and bruises. despite flying so many times, he s nervous to hear a plane flying overhead. this plane crash was in alaska. it left ten people dead. the air taxi went down about 150 miles south of anchorage. everyone on board, the pilot and nine passengers were killed. investigators right now looking into the cause. company officials say brake failure may have caused a run away train loaded with crude oil to derail and explode destroying
airplane. weather wasn t that nice when i was trying to get here last night. a beautiful morning here. stocks are pointing higher this morning. the major u.s. average closing 1% higher on friday. it s when investors kick off the week. last week, the dow gains 1.5%. the s&p 500 up 1.6%. a stronger than expected june jobs report on friday gave investors a much needed boost of confidence. investors will be watching closely on wednesday. it s when ben bernanke will give a big speech about where the fed thinks the economy stands and everyone will read into every word he has to say to see if we are really turning that corner and when the fed is going to pull back their stimulus program. meantime, the earnings parade begins on wall street today. the traditional first company to report alcoa, an aluminum giant
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