The Business Sentiment index has come in at 104. 7. It had been forecast for 105. 8. The last reading had been 106. 3. Weve had the current continue come in at 101. 5 having expected to be 101. 2. This has seen the euro dollar fall from its highs earlier today in the last few minutes. Surely the germans need this as much as anybody else. It looks like the industrialists are sending out a clear message. The activity is clearly slowing. Theres a knock on impact compared from the week elsewhere in europe. Weve seen industrial pick up sharply after quite a bit of depression caused by weather effects in the last quarter. So it looks like we dont get a strong q3. And the 10year Government Bond yields picked up for the fist time since august. Is that facing uncertainty . The economy will continue to face a lot of uncertainty for many years. The challenge is coming through from higher bond yields from around the world. Some investors are obviously taking a safer option he elsewhere. Mario drag
We have breaking numerbers. Beatenquarter has estimates. Analysts were estimating 2. 5 billion. That is for a target operating euros of 9. 510. 5 billion. Last year was 10. 1 billion euros. This is the big insurer. It is involved in asset management. It is all about pemco. The biggest in the world. Bill gross has been under scrutiny team. His management style. They are not the most harmonious. And now he is chief economic advisor. They are all intertwined. Has had withdrawals in july. The smallest monthly redemption since they began in 2013. The redemptions have lasted over a year. I yesterday afternoon, tweeted a pimco tweet to buy bonds. Someone said when you have long bonds there is one thing to do with the market. They get teased about that. It is their business. Outflows of pimco continued to slow. Yes we have had outflows but they are continuing to flow. Particularly in the United States it has been a volatile investment. It includes the global business, allianz as well. Down it
Those cuts amount to 4 of the Companies Workforce and is estimated to save 1. 1 billion every year. Stocks now and every 15 minutes. Nicole petallides. Nicole we are looking at a market that is to the downside. Lets take a look at citigroup. It is about 4 of the workforce. Citigroup is higher. It has had an up arrow throughout the day today. We saw the Dow Jones Industrials this week to the downside. We had two consecutive days in selling. Down arrows for the nasdaq. Down 1. 1 . Connell breaking news out of washington. Earlier, Speaker Boehner speaking about the fiscal cliff. Now it is president obama. Lets listen. We have emerged not yet where we need to be, but we certainly have made progress. The reason we have made progress in part is because of the outstanding management and productivity and gains and efficiencies that you have been able to achieve in each and every one of your companies. I have said this to some of the small groups, let me repeat it to the large groups, i am pass
Break down like this households making 20,000 to 4,000 would see an increase in 1,200 a year. Incomes of 40,000 to 64,000 would see taxes rise 2,000 and in the 64,000 to 108,000 bracket taxes go up 3,500 a year. Mr. Obama and the republican speaker of the house talked this over today and heres Major Garrett at the white house. Major . Reporter scott, there there is a code of silence the white house and Speaker Boehners try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. Nevertheless, cbs news has learned the following the speaker and the president spoke before treasury secretary tkpwaoeugter insers. E. C. Geithners comments about going over the cliff, the conversation was described as brief, meaning shorter than the 28minute conversation Speaker Boehner and the president had last week. Also those familiar with the conversation tell me or do not used a skwrebgive thes like curt, frank and direct meaning it was probably
Captioning sponsored by cbs this is the cbs evening news with scott pelley. Pelley good evening, theyve never said it quite like this the president s treasury secretary made it clear there is no room for compromise. Republicans must accept an increase in tax rates for upperincome americans. Negotiations on a budget deal havent gone very far and there are just 27 days before that socalled fiscal cliff. Thats the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. Heres how treasury secretary tim geithner put it on cnbc. Is the administration prepared to go over the fiscal cliff . Absolutely. Theres no prospect to an agreement that doesnt involve those rates going up on the top 2 of the wealthiest americans. Ren, its only 2 . Pelley by 2 , he means individuals making more than 200000 and couples taking in 250,000 or more. Republicans say rates shouldnt be