Citigroup ahead of the opening. Well bring in the numbers when they hit the wires. Oil prices and focused through the new warning on oil demand globally. The International Energy agency says demand growth will slow for a second straight year. Oil at 53. 08 right now. Comments on the dollar waiting on Global Markets. He told the wall street journal that dollar is too strong. Futures this morning look like this as they are following the dollar the down 40 points in the Dow Jones Industrial average. Nasdaq and s p 500 down a slope. In europe this morning, indices look like this. As you see the ft 100 down half a percent as is the cac quarante. In asia overnight, mixed performances take a look. Asian indices for japan and hong kong were lower in china and korea were higher. Shanghai composite up a fraction. Your developments in the United Airline scandal. The man dragged off the plane now taking steps pursue legal action. Without those details coming up this morning. Her routine tries to h
Capitalal has changed its business and cites among other things ge capitals exit of the u. S. And consumer businesses and transformation of its funding model. You might recall during the financial crisis ges finance arm almost took the company down and since that time, it has certainly changed that this or i should say last year undertaking an aggressive plan to reduce ge capital selling over half of its assets and, indeed, since that time, it sold about 166 billion or signed 166 billion worth of deal. Now keep in mind, ge is one of four nonbank companies that have been given this systemically important financial rating. Others include aig, met life and prudential and met life is involvedn a legal battle with the fed having, of course, received a favorable ruling earlier this year by a judge who said tFederal Reserve or the government could not designate it as that. That means these companies are subject to Federal Reserve reover sight and enhanced capital rerooirmts. The fsoc voted to
Asnie i have been mistaken francine lacqua. We will start by checking first word news. Moving closer to getting syrias president to extend his stay in power. The u. S. Is opposed to rushs assistance that they be allowed to compete in a president ial election. China has a warning for taiwan. Cutting ties with taiwan could collapse if taiwan refuses to recognize the framework that has governed the nation for two decades. The leading candidate in taiwan says there are other options for negotiation with the chinese government. Iraqi troops recaptured ramadi on monday. There are still some fighters there. They have launched a few attacks. Former new york governor George Pataki has quit the race for the republican president ial nomination. He is the fifth republican to drop out. In 1996 president reagan pressed for a summit meeting with the leader of the soviet union by reading a spy novel. President read the novel risingrm before meeting with president gorbachev. 24 hour news powered by our
Will play sideways until then. Maybe you think i am crazy. Lori that is beside the point. [talking over each other] lori who are you . John kerry . He had a big gap in a new country. Anyway. Good afternoon once again. I am lori rothman. Melissa i am Melissa Frances. Senators attack ben bernanke and the feds Bond Buying Program. The fed chairman says the benefits of the easy money policy out raise the rest. President obama on the road in virginia with a warning for shipbill is about automatic spending cuts but no sign of progress ahead of fridays deadline. Lori Housing Market recovery picking up steam, the case schiller report signals improving home prices but not everyone is convinced that we have turned the corner and that includes the reports coauthor Robert Schiller coming up. Lori youll want to stick around for that. Also today we have for you the latest on the battle over Martha Stewart, the queen of all things domestic testifying in court as macys tries to blocker deal with j. C.
for much of the path through decades, i ve been investor. the highest calling of mankind is private equity. i ve learned when doing the interviews how leaders make it to the top. i asked him how much he wanted. i didn t negotiate, i did no due diligence. you don t feel inadequate now being only the second wealthiest man in the world, is that right? in recent decades one of the most important figures in wall street has been john mack. he led morgan stanley for many years through the financial crisis of 2007-2008. he rose from modest circumstances in north carolina to become a dominant figure on wall street for quite some time. i sat down with him recently to discuss his life story and what he sees as the future of wall street. so you spend more than 50 years on wall street and probably the most difficult time was during this 2007-2 thousand eight recession where morgan stanley came close to going under. with that the most difficult time of your career? john: no question abou