His ground on the debt ceiling. General electric is reportedly on the verge of buying Italian Space firm avi oi. And Indias Central Bank stands pat despite consistent calls for a rate cut. But the rbi is saying its focus is now normally on boosting growth. Well, its been a rel ofly good year for stocks in europe. Adding about. 3 . Advancers mostly outpacing decliners on the index this morning. If we can zero in on the bourses, its largely green behind me. The fits fits mib is atting. 6 . The ibex in spain, up 0. 8 . And the ftse up about 0. 3 . Now, some companyspecific news this morning, fin mechanica saying shares up 2. 4 . This on news theyre set to buy sgeavio. Safran is also a company considering that change. Lets take a quick look at the bond space. Well get a sense of the kind of trade were seeing shaping up. It is consistent with flows into the periphery, perhaps out of the core and the risk on move generally that were seeing this morning. Yields up to 4. 5 roughly in italy at
Hello. Welcome to todays edition of worldwide exchange. Im ross westgate. And im kelly evans. Here are your headlines from around the world. Spains gdp contracts for a sixth straight quarter, down more than initially expected as its most troubled lender posts the countrys biggest ever loss. And the finance minister raises taxes on top earners rather than cut spending in an election year. And the eu moves to clamp down on big paychecks in the Banking Sector, looking to cap bonuses on a bankers salary as early as next year. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Okay. Were back. Youre mobiled up and we have some data. Yes. Its such a mobile world, isnt it, in many ways. Lets first talk about whats happening with the german unemployment figures. We were waiting on these. It turns out 6. 9 , that is the unemployment level for germany in january. The unadjusted figure is 7. 4 . Its higher than expected. You can see the forecast was for
War in the white house after taking punishing criticism for saying the strategy to fight isis is a work in progress. According to multiple reports, hes looking at plans to post hundreds of u. S. Troops to a brandnew training hub right in between a pair of isis held cities, but the white house says its not a done deal yet and says a final decision wont come until after the president sits down with ash carter later today. Kristen welker is at the white house for us. Good morning. Jim, lets start with you. What is the plan they are discussing . Well first of all, some officials that weve talked to senior military and diplomatic officials are saying when the president says the strategy is a work in progress they say that he gets that mixed up with the plans are a work in progress that the strategy is still pretty much the same to train, equip and advise the Iraqi Military in terms of how to take on isis. Now, within that strategy there are still some uncertainties about exactly how to do t
This is todays Worldwide Exchange. Im ross westgate. European stocks plunge as the prospects of political gridlock in italy sends jitters through the market. Italian banking stocks leading the way lower. The center Left Coalition win tess lower house, but no one has secured an obvious majority in the senate. Sylvia berlusconi has hinted he could be open to an alliance. Japans big exporters like sony and rico take it on the chin. And ben bernanke heads to capitol hill today to try to provide some soothing words about fed policy and calm investors fears about weak global growth. Youre watching Worldwide Exchange, bringing you Business News from around the globe. Welcome to todays program. Were over an hour of trade in europe. The voft majority of the dow jones 600 is down. So were weighted heavily to the downside. Stoxx 600 in europe down about 1 at the moment. Translate that into individual indices. The ftse 100 down 1. 4 . The xetra dax nearly 2 . The ibex is down nearly 3 and the ftse
Good morning. The days top stories, the Global Markets. Political paralysis, the point of that in italy spooking investors and lead to go a selloff on wall street. And then asia follows suit overnight. European stocks are tumbling on upper trading this morning. It is tuesday, february 26th, 2013 and squawk box begins right now. Good morning and welcome to squawk box here on cnbc where thirchx feel a little under pressure. Im Andrew Ross Sorkin along with joe kernen and becky quick. Well, becky quick is off today. She will be back tomorrow. Global markets focusing on italy this morning. Sylvia berlusconis center left rivals won parliaments left house, but failed to win an absolute majority in the upper house. This is creating uncertainty. Berlusconi has ruled out an alliance with former italian Prime Minister mario monti. Hes arguing the results reflect unpopular discontent with stocks. We saw sharp drops, italian yields jumping. Check out early stocks in european trading. This morning,