Those greek elections. Well talk futures, oil, the euro all bouncing off overnight lows. Americas largest home builder up more than 6 that is the stock and the premarket. And Apple Earnings on deck a report that apple sales in china exceed those in the u. S. Plus is apple pay at a Tipping Point . More on those stories in a few moments. First up though lets talk about these markets. Obviously a lot of people wondered what this morning would look like after the greek elections. The serisa party taking two seats short of an outright majority, but looks like they are going to have a working coalition partner. Are you impressed that europes not in the red . I think that the partner might be this greek far right wing. I know yes. And i feel that what this says to germany once again is look, this is the future. Unless you get it right, youre going to see extremism in these countries, which is making it so that draghi won last week in terms of qe. Now we see this. It just seems like everything
Certainty and make sure the country grows. Tom the president rejected the proposal republicans presented him yesterday. It would cut the debt by 2. 2 trillion over ten years, but would not raise taxes on americas highest earners, the biggest sticking point. The two sides seem to be allowing themselves room to bargain. The president said today hed be open to lowering tax rates for high earners later next year as part of a broad tax reform package. And Senate Republican leader Mitch Mcconnell did not directly endorse the g. O. P. Plan. For now, House Speaker boehner put the ball in the president s court, releasing a statement the president now has an obligation to respond with a proposal that can pass both chambers of congress. Susie we turn tonight to other opinions on the fiscal cliff impasse. We talk with the chairman of the National Governors association, and we also hear from a leading advocate for responsible fiscal policy. We begin with governor jack markell, the democrat from del
Certainty and make sure the country grows. Tom the president rejected the proposal republicans presented him yesterday. It would cut the debt by 2. 2 trillion over ten years, but would not raise taxes on americas highest earners, the biggest sticking point. The two sides seem to be allowing themselves room to bargain. The president said today hed be open to lowering tax rates for high earners later next year as part of a broad tax reform package. And Senate Republican leader Mitch Mcconnell did not directly endorse the g. O. P. Plan. For now, House Speaker boehner put the ball in the president s court, releasing a statement the president now has an obligation to respond with a proposal that can pass both chambers of congress. Susie we turn tonight to other opinions on the fiscal cliff impasse. We talk with the chairman of the National Governors association, and we also hear from a leading advocate for responsible fiscal policy. We begin with governor jack markell, the democrat from del
And the need to slim down is not unique to citi; its industry wide. A financial industry runs into huge problems. It happened in the 30s, and it happened in the last five years. When you go through these periods, you go through a lot of change. That industry is now trying to figure out what is the right size of the industry. Reporter still, economists say citis action today is not the start of a new wave of mass layoffs across corporate america. The nations job market may not be robust, but its not frozen, either. In fact, today, the payroll firm a. D. P. Reported 118,000 new private sector jobs were added in november, fewer than in october. The blame for last months slowdown in hiring falls squarely on Hurricane Sandy, not on any new or widespread weakness in the economy. I would expect that by december, were going to see some bounce back. Much of the disruption from sandy was people simply not being able to get to work or firms not employing people that they ordinarily would have. Re
In Corporate America . Tom im tom hudson. President obama tries to win over top business leaders, warning republicans are holding the Global Economy hostage over the fiscal cliff. Susie and apple shares get of the most widely owned stocks sees heavy trading. Tom that and more tonight on n. B. R. Susie big job cuts today at one of the nations biggest banks. Citigroup announced its slashing 4 of its staff; that works out to 11,000 jobs worldwide. The cuts will save the bank more than 1 billion a year in expenses. But they wont be cheap, resulting in a billiondollar charge against fourthquarter earnings. Is this gloomy news from citi the beginning of other companies doing the same . Suzanne pratt reports. Reporter 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. And there could be more. Thats because the monster firm is still struggling to recover from the Great Recession even though it has fired a lot of other workers in the last few years. The thing is, citi has a new