on capitol hill, democrats unveil a new bill they say will prevent another bank collapse. we will speaker with senator bob menendez who helped introduce the legislation. battle over abortion rights in texas how one jeryl judge to block a medication used in abortions nationwide. the latest fallout after a russian fighter jet and u.s. drone collide in mid air now russia says it s intenting to recover the fragments of that drone. we begin this very busy hour with the latest on wall street where the dow jones continues to drop after shares of another major bank tumbled more than 20%. dow jones is down 552 points and 1.7% dropping this morning a swiss bank with large operations in the u.s. and around the globe is the center of the latest crisis in the banking sector that is affecting wall street. joining us now with more is cnbc sema mody. what is going on with the markets this morning and why can you hear me? let s try to reestablish communication with her on this we will k
Representative kevin brady last night. We have two Top Economists to weigh in. Federal prosecutors are reportedly investigating 21st century fox over whether it should have disclosed information about Sexual Harassment settlements. Those details as well. Lets get right to the latest. Eamon javers and kayla tau xi are at the white house. Reporter a bit of an airing of grievances from the president on a number of subjects. We did hear some Important Information about the sequencing of his legislative agenda later on through the year in terms of taxes and obamacare. Heres what he had to say. The tax would be easier in my opinion but for statutory reasons and budgetary reasons we have to submit the health care sooner. Early march, mid march and after that were going to come up and were doing very well. Reporter so the president there saying that health care goes first in march or mid march and then tax reform. You know, politically that could be a challenge for the president because as we
Spectacular fireworks display ever put on there in dubai. What theyre trying to do with this new years celebration is set a new world record with 400,000 individual fireworks. And this would defeat last years record set by kuwait. You know how many they set off that year . 77,000. Oh, wow. So this takes it out big time. So were watching a huge celebration there and probably will be the biggest this year for new years. That one in dubai as they kick off 2014. And thats just a small piece of the whole showing. The guys over here saying dubais crushing it. By the way, thats what surplus will do for you. Yes. A few oil dollars will help there. That economy has been doing well obviously there in the middle of the persian gulf. A spectacular display that will not be equalled anywhere around. And of course weve had a spectacular display on wall street for the stock market in 2013. The best market year for the dow, for example, since 1995. And were still going higher today. The dows up another
This industry has been booming, up 36 over the past year. It is up 6. 5 pk in a month. Today we will talk about making money in the market as we go through sectors that may have room to run. The bond side of the story with paul fabio mccully. He has a new look. The hair is clipped. I dont know about the goatee. He has a new note this morning in which he puts together i believe it is emerson canes and the singer, pink. Anybody who does that has my attention. Its his first note since returning to pimco. First, though, to sue at headquarters today because, well, the traffic is still horrible getting into new york city from new jersey after a terrible fatal truck accident on the g. W. Bridge. Absolutely, ty, it was really an awful situation. The markets were going to get to in a second. Phil lebeau, he has breaking news for us. Phil . Reporter this has been speculated about for some time. Teslas ceo announced on the companys website that the company is going to open up patents for other au
In the sector slowed to a threemonth low. And indias headline inflation up at a 14 month high increasing expectations that the rbi will hike rates again this week. Announcer youre watching Worldwide Exchange bringing you Business News from around the globe. Well, welcome to the first Worldwide Exchange of the week. We kick off the latest survey for Business Activity out of europe. The eurozone december flash composite pmi up 52. 1. Stronger than the reuters poll of 51. 9 and its stronger than the 51. 7 in november. But when you dig into that, theres once again sharp divergence here between germany and france. These are two countries that we will individually detail. The composite for december 5rks 5. 2. November, 55. 4. It was again very strong. Then you break down the french number. The french pmi number down to a seven month low. 47. 48 in november. Rob is a senior economist at market. He joins us now. Good to see you. Is france in a recession . It very well could be. It fell in the