Quarterly results missed estimates and said compensating victims for defective ignitions will cost at least 440 million. Matt miller joins me along with chuck stevens. Matt, take away. Thank you. About the costsk you have set aside or the cost you pay for the actual recalls. It was 1. 3 billion in the First Quarter, 1. 2 billion in the Second Quarter, and a lot of analysts do not seem to have accounted for that in their forecast. Why do you think that is, and how much do you think it is going to be Going Forward . Before i get into questions specifically arm the recall, if i could talk about overall performance, i think it is an Important Message to get out. We continue to have strong twolts, especially in our key markets, north america and china. Recallexclude the campaigns, earnings on a yearoveryear basis were up 20 with margins of about 9. 2 . 14 hina, earnings were up yearoveryear with margins of 10 . Specifically to north america, despite the challenges related to the recap campa
Driverless cars are hitting the highway. Audisgoing to check out autonomous a7 that is paving the way for driving handsfree. And, lufthansa shares slide on weak results. We are live with the carriers cfo earlier eight are in the program. In the meantime, lets get straight into our top company story. Adidas shares are under pressure. The company slashing its profit forecast. This among other things, russian unrest. Lets find out what is going on. Hans nichols is in berlin with the details. Good morning. There are two things at play here. One, russian unrest. That is a weakening ruble. So much of their sales are in russia. Anthe last quarter, they saw 18 decline in sales. Whether it is golf or russia, stock is down more than 10 this morning. Here are the numbers on their profit warning. For 2014, they expect 650 Million Euros for profit. That was before estimates of 890 Million Euros. H, a is almost 25 slas remarkable move. When we get to the russia story, when are we going to see an Eco
Assets. H sell luxury first up we go to d. C. , a facing an budget deal the first vote in the house this afternoon. Our chief washington withspondent peter cook is me with more on this modest deal, i think we can call it prevent another Government Shutdown the next two years but is the vote going to clear . Democrats and republicans i pretty o seemed confident in the house and in the senate this measure will despite the ress fact it faces criticism from conservatives that it doesnt do make a dent in the deficit and criticism from it ral democrats that doesnt do enough to help those hurting on unemployment and doesnt extend unemployment benefits. Nobody likes the deal for one reason or another despite the fact it sets the next two s years and turn off the sequester kwu cuts, some of them. Oesnt deal with taxes or entitlement programs. The leadership say it is better than the alternative and that is another Government Shutdown in january and another cloud of crisis. I dont like it, much
Decision and economists not forecasting a change. Mike mckee our chief economic correspondent will be focused on the 8 30 a. M. Press conference with mario draghi where there is a lot to talk about. Including the possibility of a fed tabor here and what it could mean for rates rising in europe as well. A lot of Economic Data in the u. S. 7 30 a. M. , challenger job lot job cuts, then initial jobless claims of gdp and then bloomberg and Bloomberg Consumer convert and then factory orders and then 8 30 a. M. Eastern treasury secretary jack lew will outline his 2014 regulatory agenda and discuss wall street Reform Efforts in the buzz word will be the volcker rule. 950 pages. Lets do a 950page data check. Stocks, bonds, currencies, flat footed. Treasury yield elevated. 2. 83 . Of two 97. 57 a barrel. Yields,ds, the the the twoyear has not moved. Gold gets a bit finally today. Alix steel, why did gold get a bid . And perhapsering some Hedge Fund Buying coming in and buying a little bit. Mark
Is Briefing Senate leaders on a matter of great importance. Blown away. Watch as the huge gusts sweeps the little girl off of her feet as she clings to a screen door in ohio. Your house is rocking dont stop knocking. Come on in. Steve it looks funny. Imsure the parents that saw that video. She is so lucky. She has quite a grip a kung fu grip there. Abby all the guys are laughing. The women their mouths are wide open. Im just impressed. Steve that is quite a funny image. Up, up and away. Ainsley strong you were arm strength. Steve we will tell you more about the storm system coming up. Peter good morning to you. Pete great to be here. Brian brian is out and about. He. Pete my mom and steve doocy call peter. Ainsley he has one of his own. Steve ohio call peter. Some people call him pete. Whats your middle name. When i use your first and middle name you are in trouble. Peter brian go to the couch. Ainsley whats your peters middle name. Steve peter james. Ainsley the fight to repeal and re