Up by over half a percentage point. Lets tell you about the top three stories that were focused on this morning. They all about regulation. The top one, pfizer and allergan will be mutually terminating that 160 billion transaction following the new inversion rule changes. Sources tell cnbc that pfizer will pay allergan a 400 million breakup fee as per that tieup agreement. Both companies believe the treasury overstep the bounds of its Regulatory Authority. Sources say neither drug maker wanted to risk launching litigation against the government. President obama weighing in on the Treasury Departments new steps to stop corporate inversions. Ive been pushing for years to eliminate some of the injustices in our tax system, so im very pleased that the Treasury Department has taken new action to prevent more corporations from taking advantage of one of the most insidious tax loopholes out there and fleeing the country just to get out of paying their taxes. The president called on congress t
S p up by 8. The big headline we should tell you about, the biggest, of course, joe was making a joke before it began. We wont make that joke on air. Pfizer in talks with the wall street journal, with allergan. It would be a blockbuster deal if this were to take place. You are arguing whether there are synergies. There are definitely synergies. It is basically taking the marketing machine. I know where youre going with this. A marketing machine that is pfizer and allergan. The real issue is whether the regulators would allow this. Both stocks indicated higher. It continues with the trend we have seen about the Companies Even trading higher. What would regulators see here that would i dont see what market youre trying to corner. Its not me. Youre going to use your helmet equation again . What is that . Thats eurequation. You know all about that garner share. Matt meantime, back to the debates. Two rounds with the gop feel. Senator Lindsey Graham stole the show. Then frontrunners ben car
That really sparked a lot of the uproar which led to director julia piersons resignation. Plead notlez did guilty today to those accusations of getting all the way inside the white house with a knife, yelling that the atmosphere was collapsing and he had to warn the president. Today in court, the iraq war veteran, reportedly suffering from ptsd, waived a detention hearing. He is going to be held without bond until trial. The big argument today centered around should the judge be allowed to force him to undergo a Mental Health evaluation. The defense says no, the court does not have that right. I asked him on solidss attorney why he is fighting it. The screening is done, we would like to have the screening done by our experts. It is an intervention into the defense counsel that we do not think is worth it. You told the judge you have every reason to believe he is competent. Thats correct. Also toldzs attorney me he believes guns all as is completely competent to stand trial. Hes well aw
And indeed, through all of business. I want to get to pimm fox, who is in our new york newsroom with top headlines. Pimm and todays speech Federal Reserve chairman janet yellen says Economic Conditions may warrant an Interest Rate hike this year. But she says the rate increases will be gradual. This is janet yellen speaking today. Janet yellen the activity appears to be closer to its potential than it was a year or two ago. The economy in an underlying sense remains quite weak by historical standards. Pimm yellen also said the Federal Reserve policy will evolve based on Economic Conditions. Senator Chuck Schumer of new york emerging as a likely successor to the Current Senate democrat leader harry reid. Harry reid says hes not going to run for a sixth term in the senate. Reid endorsed Chuck Schumer and the chambers number two democrat said hes not going to see to the top job. The Germanwings Airbus copilot who apparently crashed flight 9525 on purpose was suffering from an unspecified
And a lasting significance of this case. And indeed, through all of business. I want to get to pimm fox, who is in our new york newsroom with top headlines. Pimm and todays speech Federal Reserve chairman janet yellen says Economic Conditions may warrant an Interest Rate hike this year. But she says the rate increases will be gradual. This is janet yellen speaking today. Janet yellen the activity appears to be closer to its potential than it was a year or two ago. The economy in an underlying sense remains quite weak by historical standards. Pimm yellen also said the Federal Reserve policy will evolve based on Economic Conditions. Senator Chuck Schumer of new york emerging as a likely successor to the Current Senate democrat leader harry reid. Harry reid says hes not going to run for a sixth term in the senate. Reid endorsed Chuck Schumer and the chambers number two democrat said hes not going to see to the top job. The Germanwings Airbus copilot who apparently crashed flight 9525 on p