Chunk of our economy, but many find themselves in a financial bind. Tonight, we begin our fivepart series in oakland, california, to see how that city is trying to fix itself. We have all that and more tonight on nightly Business Report on this monday, november 18th. Good evening everybody, and welcome, it was not easy or smooth. But the dow closed at another alltime high today, its 39th of the year. Perhaps equally notable the dow crossed the 16,000 mark for the First Time Ever a and the s p scored its own first, piercing 1800, neither held it long, though, stocks got an encouraging bit of news by William Dudley who says that the banking will strengthen. The jobs pictures will improve and so should consumer spending, but late in the day a wet blanket got tossed, coming by carl icahn. He called some Companies Earnings a mirage and says some companies could have a big drop. Well, it was not big, but the number did drop after that. The dow surged as much as 67 points higher initially, fi
Bank of over two decades is reportedly near a settlement over it role in the scandal. Will this help the banks massive issues . All that and more tonight on this monday, january 6th. Good evening, everyone, and welcome. Its an historic day for the United States and its economic policy. For the first time ever, a woman, brooklynborn economist janet yellin, is poised to be sworn in as the nastions top banker. Early this eve tng senate voted to confirm the 67yearold yellin as the chair of the federal reserve. Shes now its vice chair. Eamon javers joins us live in the nations capitol with more on tonights vote and what it means for Interest Rates, the feds stimulus plan, and the american economy. Welcome. Lets start with the details. How close was the vote . In the end, tyler, she had more votes than she needed. The final vote was 5626. And you may notice that that does not add up to 100 senators. We have a lot of missing senators today because of some of those travel glitches around the c
That and more for nightly Business Report for march 24th. Good evening, everyone. Welcome. Biotechnology known for breakthrough therapies, it may be the most exciting businesses of the 21st century. Medicines that could improve and save lives of millions. With names like cellgene, amgen are among market leaders, especially on the nasdaq but not the past two days. Down sharply on friday, partly no response to reports an influential congressman questioned the drugs pricing. The stocks tumbled again today. The biotech index was off 3 today alone. That had a big impact on the markets overall, which were able to close well off the lows of the session. The dow up as much as 80 points as one time, down as much as 7 ask finished 26 points lower. The nasdaq down by 50, more than a 1 decline. The s p lost five. Sheila looking at what is driving the sell off of the bioteches. The sell offs started last week after Congressional Democrats sent a letter asking for more information about its pricey d
Triple digit gain on the dow. Cutting cholesterol, a new and promising weapon against the fight of cardiovascular disease and the makers we bind it. The devastating problems General Motors has gotten worse. Gm expects to take a massive 750 Million Dollars charge this quarter for the cost of recalling and repairing 1. 5 million cars with faulty ignition switches. Thats on top of a new recall for 1. 3 million recalls that may see a sudden loss of power steering and another late recall friday of trucks and suvs for potential problems with transmission coolant lines. The cheer checktive mary barra will testify on capitol hill. Late todays her repaired remarks were released and says the auto maker holds itself fully accountable but cant say why it took so long to identify them. With families of the victims expected at tuesdays hearing, look for tense and emotional testimony in the house. Meanwhile, on wall street, gm stock fell nearly 1 . Its down almost 16 this year. Here is eamon javers w
Reportedly near a settlement over it role in the scandal. Will this help the banks massive issues . All that and more tonight on this monday, january 6th. Good evening, everyone, and welcome. Its an historic day for the United States and its economic policy. For the first time ever, a woman, brooklynborn economist janet yellin, is poised to be sworn in as the nastions top banker. Early this eve tng senate voted to confirm the 67yearold yellin as the chair of the federal reserve. Shes now its vice chair. Eamon javers joins us live in the nations capitol with more on tonights vote and what it means for Interest Rates, the feds stimulus plan, and the american economy. Welcome. Lets start with the details. How close was the vote . In the end, tyler, she had more votes than she needed. The final vote was 5626. And you may notice that that does not add up to 100 senators. We have a lot of missing senators today because of some of those travel glitches around the country. Senators were not ab