Survivors in after the earthquake. Plus on the program, aaron joining us. The bank bailout is back aaron. Portugals biggest bank taps into funds to the tune of 6. 5 billion. It will be split into a good and bad bank. Its the first time european bailout rules is tested. The idea is to make sure investors are not just taxpayers feeling the brunt when the bank fails. Its midday in london, 7 00 a. M. Washington, 2 00 p. M. Gaza where a seven hour lull in military operation is underway. We have reports its been breached already. Health officials tell us an 8yearold girl died in gaza city in an air strike that took place minutes after the so called truce came in effect. It happened in a part of the gaza strip that was supposed to be safe in the lull in fighting. This pause of hostility doesnt apply in rafah where israeli troops are present. Its not recognized by hamas who accused israel of trying to divert attention away from what they call israeli massacres. It comes a day after ten palesti
I am Erik Schatzker. On thisstic to join you monday. A lot of exciting things going on. Excited to talk about it all. The top business stories from around the world. Torture goal has railed out its largest lender. It will cost the government 6. 62 rescue the bank. Good being divided into a think an bad thing. Junior bondholders and shareholders are stuck with the unit containing the banks most toxic assets. One way to bailout of banks, give the government the good stuff and everyone else the bad stuff. Topranked economist for the past three decades cashing in. Ed hyman selling to evercore partners. The price is much as 406 million. Four years ago he began hiring top stock analyst. Mcdonalds is putting beef and chicken burgers back on the menu in china. The burgers had been pulled about two weeks ago when one of mcdonalds suppliers was found repackaging old meet. From the company have been arrested. Lex and Alarming Development in the ebola epidemic in africa. Nigeria has confirmed a se
Is flying high. Mcilroy is once again the number one in the world. He is the favorite at this weeks pga championship. For more on this bank rescue, we are joined by guy johnson from london. The bank said earlier that a public rescue would be its last resort. Here we are with the last resort. We had a change of management and the new management look through the numbers and the books and said we need to be more honest about the state of play, about the risks and liabilities that the bank faces. As a result, we got a huge loss last week. As a result, effectively, this bank became insolvent from a regulatory point of view. Effectively, the government has had to step in. A little while ago the management said everything was ok, new management comes in, not so much. We have a problem. As a result, we need some bailout money. Now that they have the bailout money, what is next . Exactlyve to figure out what is happening here, what the real linkages are. The taxpayer is not on the hook, the gov
The Parent Company Deutsche Telecom jumps at the open. Display youre watching worldwide exchange, bringing you Business News from around the globe. Good morning. Welcome. It has been a busy morning. So far, some of the steepest boards in spain, portugal and switzerland. You can see still sharply lower, about 0. 6 off the major markets. The ftse mib off 0. 3 . French, italian and german pmis suggesting a fall from the june level right across the charts. But it were a trace on the manufacturing side. To the u. S. Markets, it was a choppy session statewide. The argentinean default. You had concerns around geopolitical tensions, still with fresh sanctions and then the ripple effects across markets. Earnings werent particularly strong, either. We saw the s p, the dow and the nasdaq around n session and a jump in the vix as a result. The vix up 23 . On the data front, interesting to note, u. S. Labor costs according to their biggest gain in more than 4 1 2 years in the Second Quarter. A litt
Europe, a couple hours left in the trading session. Mixed picture, pressure in spain and italy. Ireland, u. K. As well, and portugal in the green today. Road map begins now with markets setting up for a lower open after yesterdays bounce back. All major indexes logged the best day in two weeks. Target slips in the premarket after lowering the outlook and raised estimates of expenses related to the data breach. Cochairs hire ahead of the open after the company handedly beat expectations riding a wave of international sales. Cbs ahead of expectations raising guidance for the year. Futures point to the lower open. U. S. Stocks off the best day since july 18, volatility dropped more than 10 yesterday, and crude oil broke a fiveday losing streak, inching up a bit, jim. But the question is whether august continues the streak of under performing august or yesterday change something. Did yesterday change something for you . No. We still have the russians massing on the ukraine border. That sho