Analytics reporting bargain hungry shoppers bought less. Sales fell by mid single digit percentage at brick and Mortar Stores on friday and saturday. That compares to the same days last year. But, heres the important part, it does not include online sales which of course have been the story of the season. Wellknown industry analyst dana telsey will join us with her thoughts later this morning. In the meantime, Steve Weissman has the headlines. Apple announced it has signed a longawaited agreement with china mobile to sell iphones to the worlds mobile phone users. It could add billions of dollars to apples revenue. It will start january 17th. China mobile will begin preorders on wednesday. Eunice yoon will join us. Tiffany must pay swatch 449 million in damages over a failed joint venture to produce and market watches. Tiffany is cutting its full year profit outlook. Boeings unionized machinist workers will vote january 3rd on the latest contract. Where boeing makes the 777 voted two to
Face a full set of challenges. I worry about complacency, governments that have never successfully forecast a recession a year in advance, that missed the 2007 financial crisis, that missed the 1987 stock market crash, t missed the latin american debt crisis and missed much more. I worry about how well macro prudential can really work on, though its an attempt worth making. And i think much greater emphasis needs to be placed on making a system that is safe for ignorance can and court reportereporter error. And that means emphasis on capital markets, emphasis on liquidity, emphasis on strengthening the robustness of the system. The last time we had a great emphasis on macro prudential, it was spains countercyclical Capital Requirements that we were going to protect against the spanish real estate bubble. That didnt work so well. Mr. Tom bainny, briefly. Yeah. I think one issue that hasnt been discussed so much lately is the fact that this exit is unsynchronized this time around. You se
The food Group Warning it could miss targets again this year well be speaking to the ceo in just over an hour. And italys Prime Minister fights for his political future. A challenge from within his own party destabilizing the countrys Coalition Government. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. And warm welcome to the show. Well be out with jules in rome in just a few seconds. First of all, lets get the latest on the ias incident every national report, the International Energy agency. Theres bitterly cold weather pushed up demand for heating fuels. Total oecd industry stocks plummeted by a further 66 million barrel necessary december. Global supplies are falling to 92. 1 Million Barrels a day on lower nonopec output in january. Supply from opec rose marginally in january. Growth rebounded the second half of 2013, but nonoecd countries still accounted for more than 90 of Global Growth of 1. 2 Million Barrels a day as a whole. Thats