its plans to eventually replace ceo steve jobs. jobs has been on medical leaf since january. this is the second time he s taken medical leaf in two years. apple said revealing plans from successor jobs would have prevented it from recruiting and retraining executives. while we may soon be in for a glimpse of the next ipad, the company has sent out invitations for an event on march 2nd where it s expected to unveil the ipad 2. now, the budget-cutting zeal of the freshmen republicans in the house of representatives could end up slowing down economic growth. that s a conclusion by the study of wall street giant goldman sachs. they suggest such a deep cut to reduce gdp by 1.5% or even 2 percentage points. now, the federal reserve has predicted the u.s. economy will
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.050%. and australian market is down about .75% or so. the mounting turmoil in libya and the soaring oil prices weighing on the u.s. market for wednesday. all three major indices declining. it s the first back-to-back triple-digit gains since june for the dow. and united continental has lost about 15% over the past two sessions alone. it s really all to do with the higher oil prices which really does have a direct effect on airlines on flights and on prices. now, the dow on the day down been 107 points. that s about 0.8%. the nasdaq down by 1%. as they had digest hewlett-packard s results on tuesday, and down 1.2%. shareholders in apple have voted down a proposal that would have required the company to disclose
out monday. juergen hambrick joins me from the company s headquarters in germany. we re going to come to your fourth quarter earnings in a moment. tell us about wintershaw and the decision to stop production. how much production is involved there? first of all, i have to say first priority is safety of our employees, all of our employees, that s why they closed down manufacturing, production and secured and protected our facilities for the time being. now, looking forward, i think if you look at the top line news, it s called a substantial, this is about 100,000 barrels a day. however, if you look into the earnings after tax, major impact is not there, because if you just look into the entire year 2010, we had earnings well below 100 million euros.
tell their end of the story as a cnn crew arrived in his anti-gadhafi stronghold. well, the world is watching as the price of oil creeps higher and higher. the uprising in libya, unrests in other parts of the region together have sent crude prices soaring and crude both above $100 a barrel now. it s also taking a toll on global stock markets. here s how we re looking about an hour into europe s trading day. with losses nearly 1% for the dax and paris 40 and the london ftse. we ll be talking toe the boss of that company in a moment. let s move to the currency markets. we have seen some weakening of u.s. dollar, but it seems to be