Violence. The death toll in gaza is now 173. Thousands are evacuating, and israeli strike continue to hit gaza. Prime minister Benjamin Netanyahu said hell do whatever it is necessary. Still there are calls for ceasefire. Nobody can see what will come out of the exchange of fire. I think there is an open or hidden wish to arrive to an immediate ceasefire. We want to see an immediate cessation of this assault, this of aggression, on in military assault on the palestinian people, but we also want to see that israel is held to account. In the meantime life in ga gaza not life at all. Reporter in this conflict the schools are now shelters. The children dont come here to study. They come here to live. More than 15,000 people from rural north gaza, this was their city last night. Israel warned all residents to leave. They feel they have no choice. Each familys story is repeated a thousand times. Each classroom is a bedroom. This room is now home to four families. In total, 29 people liste li
Business. Chinas central bank promises to watch for inflation after the premier league sounds a hawkish warning. And initiating countdown sequence, india just minutes away from launching asias First Space Mission to mars, heating up a new global space race. All right. A warm welcome. Were into the twohour Worldwide Exchange again after the u. S. Changed their clocks over the weekend. Now, a lot of earnings out today. Details out in a minute. Nissan shares taking a big fall in japan today. The automaker cutting its profits down by 20 because of weak sales in asia. Well get the details in around 10 minutes. Helia is in london for a first on cnbc interview with the owner of Imperial Tobacco. Well get more at 10 20 cet. And in new york, the yearlong mayoral race draws to a close as voters head to the polls today. About frontrunner bill deblasio score a victory or is a lastminute upset on the cards . Plus, well speak to the italian finance minister about his vision for the future of europe.
Story. After 21 hours on the senate floor, texas senator ted cruz wrapped up his brave and courageous obama care filibuster today. That said, the debate and the political standoffs are far from over. The real voting is about to begin. Cnbcs chief washington correspondent john harwood joins us now with all the details. Good evening, john. Good evening, larry. We had an unusual end to that filibuster which you called brave and courageous. 100 people voted against it, including ted cruz himself. It became so unpopular by the end, that ted cruz decided to go with everyone else, seeing which way the wind was blowing. What were going to have now is a debate in the senate over stripping out the defund obama care provision. Not sure exactly when thats going to happen. But cruz has indicated he may shorten the time and not drag it out all the way to sunday. Many republicans wanted him to shorten it so that the house will have more time to send a counterplay back to the senate. But it does appea
Four resolution authorities in four different leading countries to isda, International Wall dealer association. Changing master agreements to facilitate bank resolution. When they realize if any one of them, fdic, the bank of england, bofa in germany or swiss authorities were to try to resolve one of the their major banks, under the isda master agreement, all of the foreign counter parties to swap agreements which number as you know in the trillions, would be able to immediately close out their contracts, net it and run. They are not constrained in the way others are by a stay. Secondly, they are concerned that if the u. S. Were to put a major bank in resolution and shift it to a bridge bank which is what title ii permits, this bank should be very healthy but a change in control under the isda master agreement would give opportunity for the counterparty declare a default and try to act. It would also be true if they exercised a default across clause. All of these things could make it v
The government and a bank because perhaps that settlement is not the result of each party looking at their options and the evidence of the other side but rather simply the governments overwhelming power. A bank can not really afford to take on the government in this way or take on its supervisor and as a result you wonder, unless theres a lot of information around what actually happened, you wonder whether there is really an arms length kind of settlement. The same question arises where the settlement has occurred and we dont have very much information about the evidence that the government had to create the settlement. And why the, or why the bank agreed to the settlement. Theres a lack of transparency in these cases. And again, because of the fact that the government has so much power with respect to the bank, the lack of transparency raises questions about the rule of law. Are we really dealing with a situation in which the government has found something that is extraordinarily trou