Car, a smartphone turns into a car on wheels, is very much at the forefront of what people are talking about. Let me just show you before we get to the news. This is how General Motors is setting up its connected car. This is a live feed of whats happening in this car and on its dashboard. Weve got mary chan, head of the Global Connected Consumer Group at General Motors, they are going big. In fact, nine of the ten Major Car Companies in the world are here at the Consumer Electronics show. A lot of these people were either delayed, some havent gotten here because of the deep freeze thats engulfing the nation, but that ice has not extended to the stock market. Take a look at whats happening, a decent day, a bit of a rally on wall street, snapping some of the losing days we have had. Cheryl casones coming up in just a minute to give us all of the market news including that big news about jpmorgan and its 1. 7 billion settlement involving the Bernie Madoff scandal. Were going to take you
The past two sessions. One day does not a trend make. We continue to follow. No wonder he recently said twitter had nothing to fear of going public. Shares of facebook finally after rocky ipo broke 50 a share. That after goldman raised the price target to 58 from 52 saying there is momentum and significant runway left. It has taken off up another one 1 3 . Right now 0. 15 above 50 per share, up 0. 69 at the moment. Not bad. Well below its ipo price shortly after went public. Finally jamie dimon went to the washington to reach an agreement with the Justice Department over his firms role in allegedly misrepresenting Mortgage Securities before the financial crash. A live report in just a moment to moment there is the belief that the two sides are striking a deal. We dont know how much. They first offered 3 billion. The stock has reversed. Higher earlier, not below the flat line down 0. 10. We are watching it and have the top banking analyst getting in the chair to talk about what he think
Retailer is struggliing as he says he cannot promise that things will get better. And big discounter offers stock at 21 euros per share. Good morning or good evening if youre in asia. We kick off with another set of data before the ecbs meeting tomorrow. Its the final pmis for may, final services pmi 53. 2. Its a tick down from the flash of 53. 5. It is still nevertheless the highest since june 2011. And it is higher. Aprils was 52. 1. The final composite pmi has come in at 53. 5, a tick down from 53. 9 which is the flash april 54. We did see of course the french number coming down just a little bit as well. The german private sector growing for the 13th straight month in may. Well break down that but of course another key bit of data ahead of the ecbs meeting tomorrow. Theyre widely expected to take action. How much, of course, is still to be decided as they will come back, euro dollar around the 1. 36 mark we were yesterday. Before that, though, lets talk about the g8. What was suppo
Hertz cut its fullyear forecast because of weaker than expected rentals at airport. Hertz offering a handful of tesla model s cars at a california airport. I wonder how much it will cost to rent. Liz 500. David 500 bucks a day. Wow. New claims for jobless benefits fell to 305,000. The job reinforces the Federal Reserve case to taper the Stimulus Program in october. Liz Commerce Department says the Gross Domestic Product grew at annualized rate of 2. 5 in the second quarter. Pretty much the same as the previous growth estimate for that period. David shares of air chemical and products are up after the Company Announced it will plan to look for a new ceo. The chairman and ceo john mcklain will retire next year. Liz the government stepping up plans to get out of General Motors entirely. It now owns just over 7 of gm stock. The treasury plans to sell all its remaining shares by april 1st of next year. After the bell starts right now. Liz weve got breaking news on lazard Capital Markets. Ch
Were not going to submit to this kind of ir responsibility. Congress needs to pay our bills on time. Congress needs to pass our budget on time. Congress needs to put an end to governing from crisis to crisis. As zachary gets ready to avoid a nearly 1 billion loss, the chief executive is in line for a 55 million golden handsha handshake. And a breath of fresh air for vestas after they agree on a deal with mitsubishi. Youre watching worldwide exchange, bringing you Business News from around the globe. Hello and welcome to the program. Weve been together. This is actually this week is the first time were meeting in person, not just talking over the air waves. Were waiting of the side of the plane. Its nice to be in london together. Lets tell you whats coming up on the program today. Plenty of data out there for the japanese economy on todays show. More evidence in the country in the process of escaping deflation as the countrys cpi beats expectations. Well take the pulse of the economy li