Tyler is out today, but as i mentioned, brian is live in l. A. They there, brian. Reporter hey, mandy. Happy friday. That comcast Time Warner Cable deal is off, disconnected, if you will. Comcast is the Parent Company of this network and it is ending its deal to buy Time Warner Cable. This is following regulatory scrutiny. Our ceo, Brian Roberts, on cnbcs squawk box earlier today saying it is simply time to move on. So where did it all fall apart and what now . David faber joining us with more. David . With its deal to be acquired by comcast no longer on the table, one of the key questions is what does Time Warner Cable do . The company will be report earnings next week well see how good they look and whether or not, of course Charter Communications, which had pursued Time Warner Cable so much so that it found itself in the arms of comcast eventually will come back to try to do that. Charter, for its part finds itself without any of the subs it expected to be taking in. Whether through
The fed chair will be testifying before the Senate Budget committee this time, starting at 9 30 a. M. Eastern time. She told the join the Economic Committee the economy still needs plenty of support and that the markets are not in bubble territory. Valuations are in house torq historically Interest Rates are historically low. That feeds into the valuation. Theres that linkage. There are pockets where we could see valuations in smaller cap stocks but overall, those broad metrics dont suggest that we are in obviously bubble territory. In reaction to her comments, the dow managed a triple digit gain, closing at 16,518. The s p 500 also picked up ground adding ten points. The nasdaq, though, dropped 13 points. The nasdaq looked worse earlier in the day, though. You did see much steeper declines. It was boosted into the decline of 13 points by the end of the day. The futures right now, youll see at this point dow futures are indicated higher about 13. 5 points, nasdaq up by 2, s p up by 1.
News coming in. It was the philly fed that looked like things were turning around. Yeah. Higher in western europe, becky, but an entirely different story in russia. Lets get to that. Russian deputy finance minister saying he expects no big Immediate Impact from western sanctions on russias financial sector. And he argued that the countrys creditworthiness has not worsened. U. S. Imposed a second wave of sanctions on moscow yesterday, and the European Union is expected to announce measures over russias moves to the next crimea region of ukraine. Russian officials criticized the downgrade of russias trading outlook. Saying there was no basis for the move. The s p and fitch provides their longterm assets on russias debt from negative to stable. So far, the russian markets are feeling the pinch. The russian rtx down almost another 3 right now. While the broader miex micex i. Their version of the down is down over 21 over three months. It is down 24 over the past 12 months. Nothing short of
It is 9 00, good morning. We are live from bloombergs European Headquarters in london. Man versus machine, hands net nichols gets behind the wheel to see if he can beat one of the fastest self driving cars out there. It is a great package. Look at that mans face. Calm, collected, cool. We get a taste of the worlds most expensive burger. The price is eye watering. To our top story. Shire shares tumbling today. Abbvie thinking about scrapping its acquisition of the company after the u. S. Announced changes to tax regulations which would make this deal less attractive. Matt campbell joins us now. This feels like a big casualty of the crackdown. The company said it was not just about tax. Everyones statements are being tested. Abbvie did say, this is a Strategic Acquisition for them. Tax and the ability to redomicile was always a huge part of this. There was a bit of a question mark from the new rules. The new rules were not all that severe. There was an expectation in the market that this
American businesses added only 142,000 jobs in august, now thats not a bad number, but its much lower than expected and julys numbers were revised lower by 30,000. Despite that, the nations Unemployment Rate kicked a notch lower to 6. 1 because so Many Americans gave up looking for a job. What happened . Where did the jobs go . And after six months of gains and a string of encouraging data about the economy, do these numbers even make sense . Hampton pearson has more. Reporter the Retail Sector are a net loss of 8,000 jobs led the way in the unexpected august slow down in hiring. The sectors weakness was cost by 17,000 workers temporary out of work due to the strike at the new England Grocery store chain market basket. The overall weak number broke a sixthmonth streak of employers adding over 200,000 jobs leaving economists and government officials saying the numbers dont make sense when compared to recent trends with strong auto sales and gdp growth and Consumer Confidence and jobless