Now urging investors to be cautious. Merkel agreed to by an antibiotic maker for a . 4 billion in cash. Take your cash elsewhere and go, or pay a fee. The wall street journal says jpmorgan, citigroup, and others, the new regulations make certain types of deposits impossible. Among the clients that are infected, hedge Fund Companies and smaller banks. Fate thisl learn its week in that record 17 million team. Former colleagues could get up to 20 years in jail. Of cambridgeuchess are in town. Arriving yesterday for a threeday visit. A basketball game. Has towilliam also washington today to meet with president obama. In the meantime, mcdonalds as well. 2. 2 percent. A decline of 1. 7 , so this is worse than it that it here at Olivia Sterns is at the breaking news desk with more. , orheir breadandbutter should i say their bun and big mac. A decline of 1. 9 . In europe, the numbers are also worse than expectations. Mcdonalds also saying it thinks , thaturthquarter results will wipe away between seven and. 10 of earnings overall global sales falling more than estimated at mcdonalds, more than 2. 2 . In the broader trend, mcdonalds has been struggling against casual read shots such as chipotle. They are rolling out the spice lattes, but so far, it looks like it is not doing the check. Apparently, it is not, although i like there Pumpkin Spice coffees. All right. We will go through more of those numbers. A 37 premiume, to queue this. For more on the news, we are joined by Bloomberg News managing editor jeff mccracken. Of course we end the year with another egg farm a deal. Exactly. It is interesting. This falls into the Infectious Diseases category. This push to be looking into, there are these you need newnow drugs to combat the virus is in the bacteria. That is right. Explain more about how it fits into the strategy. Merck has its way as well with a tried to affect these diseases. Hewitt plugs right into that. Q this was one of the companies we had talked about for a long time. Has it on the lookout for people have anticipated it as well. They had very much been in the realm of companies on the list. Thank you. Another big deal and merck is at it again. Last 10, congress is facing a thursday deadline to finalize a spending bill and avoid another Government Shutdown like we had last year. It looks like cooler heads will a done but it is not deal. Peter cook is with the latest. I will explain the key role they play in all of this, but thursday is the deadline to get the spending done. Lawmakers head for home. The department of Homeland Security getting special treatment here, only getting funding into early 2015. That is part of the punishment for president obama for immigration executive action. Do not know is what other goodies might be inside the legislation that democrats might object to. We already know there are about 70 of the policy riders on the table. Here are some of the riders to watch today to see if they make the final cut. Preventing the official Wildlife Service from putting the on the endangered list. Barring the department of transportation from imposing trucker rules right away. Nancy pelosi warning on friday that she and her fellow democrats will not be able to support it. It is important that the republicans not be frivolous once again about shutting down the government. But they know in order to have a bill passed, you have to have all the votes. If they want ours, we cannot support what they are doing on the bill. Nancy losey has more leverage on the fight and she usually does. Number of House Republicans will not vote for the bill because they do not think it is tough enough responding to the president S Immigration action. They want this bill specifically to block the effort here in the end, that did not happen. Democrats would get it over the finish line. Coming up, we speak with republican tom cole. This hour,shaking billionaire warren buffett. He is the second richest person in the world. Berkshire is up 27 this year. He has dropped from being the worlds richest man. There are 17 shopping days left until christmas. Is the Holiday Shopping season shaping up so far . Blackrock ceo larry think said the numbers may not be telling the full story. More on us now with what was said about the american consumer. I wanted to give everybody a taste of how larry looked at the economy and the markets. If you want to know what is he passed it to the eyes of the consumer. Does the consumer believe he can afford to start consuming . Does his own checks, talks to retail ceos, and heres what he said. From all the conversation i with ceos about believe this is entirely wrong, just that data. Traffic was marginally better, not a half of a percent lower. You say the consumer is stronger than the data suggests. Were witnessing oil because of technology. It is transforming because of behavior. We do not need to rush and go out thursday or friday of a buy things cheaply. We can buy things cheaply every day. Know that the internet is becoming bigger and bigger. Technology is changing human behavior. Were using past traditions to judge or make projections about current behavior. We are wrong, totally wrong. Anecdote aboutin a colleague of his from blackrock. He did all of his christmas using wifi the airplane. Wifi on the airplane, we will talk about that. You have been paying attention. What you think not just on the consumer or retail, but how that affects his views on the market . Upside. Is bond yields still at 2. 5 for the 10 year treasury. Think the, i probability is slightly higher than 15 and we will have bond yields there, but the equity returns will start moderating. 20 risk that gdp will grow faster than he expects because the consumer will start feeling as though he can consume, and in that scenario, to 3 . Uld be 2. 5 equity returns would be greater. We look forward to that interview. Much more ahead, thinking about shopping. The only thing being sold, we will be back. Shopping. Congress is scrambling to finalize a spending bill before the thursday deadline or reach a repeat of last years his Government Shutdown. Leaders are added to unveil the legislators today and conservative republican opposition, that democrats come is the one wildcard that could stand in the way. Extending the hand of friendship once again to the speaker to say we are getting ready to cooperate, there are some of those things we cannot 218 votes, there is no conversation. If she doesnt, we have leverage over those riders. Pelosi. Is nancy is republican tom cole who sits on the house and budget committee. Do you think ted cruz, who we are talking about, the face of the opposition, will be able to succeed . , no, it is in on this bill much different. There is quite a bit of change on a yeartoyear basis as opposed to a continuing resolution. Supportll be bipartisan for this and bipartisan opposition. Some democrats are concerned about some of the authorization or funding for syrian off ration operations. Goals, youthe budget know, they would prefer to spend less. Quiet bipartisan. The democrats control the United States senate. We still have to get this through a senate. You believe you will need democrats in order to get the spending bill through . I do not think we need them. A lot of them will vote for it because they would rather vote for parts of the bill. This is a compromise arrived at with democratic senate. Democratic concerns at the table. Startmocratic president has to sign it. But at the end of the day, i believed this would be bipartisan. I think we get the 218 votes, but that would not get your president ial signature. How many republicans will oppose this . I would not consider them to sessions. It is not exclusively a republican bill. We would probably be able to get to almost everyone you needed. Since democrats have at least half the leverage, nearly two thirds, we will not be able to get every objective we would like to achieve. Is it will be bipartisan. Ok. But how many do you think will oppose the bill . Less i do not know. The bill not has not been seen by the members. At the end of the day, there will be ample votes there from both sides of the aisle. Not quite the drama one might expect. Will meet the deadline on thursday to pass the bill. I am confident we will by thursday. There is a time you need to give to to look at the some look at something this massive. But we will be out of here by thursday the 11th. What if by chance, this does not get past. What does that mean for john boehner and the Republican Leadership . H amend this embarrassment for all concerned, democrats and republicans. This has to be signed by a democratic president. Play aas if they do not role in the process, bringing votes to the table in reaching a final agreement, it is simply not correct. From both houses to both sides of the aisle, we could not get it done and because of that, we will get it done. All of this lastminute, we have to have leverage to get these votes. Really . Democratic senators to bargain with. That is most of the leverage we need. Jobs report came out on friday and it was stellar. Isre saying, this blockbuster and ive never been so excited to see this jobs report. Then you get statements from the Republican Leadership continuing anday it is not good enough the economy is not growing enough along, but the more the republicans criticize a jobs report or a jobs from as do they start to look like the grinch . Has been the slowest recovery in modern american history. It has taken a long time. You are right we have 10 terrific months here. That is good news. You have to give most of the credit to the American People and not to the government. The reality is, this has not exactly been an administration that is friends with the oil and gas industry, though they take a lot of credit for what people in the private sector have done. Infrastructure, i think we have an opportunity early in the next congress to do a lot more in that area. Things, but the Housing Market is not back where you would like it to be. Better, but not bad. You need to give the American People and the American Private sector credit, not the government. We will leave it there. Thank you for joining us this morning. Much more ahead, another dubious milestone for oil. A fiveyear low again. That may make this ceo the biggest loser. You are watching in the loop live on Bloomberg Television. I am betty liu. Hackers working through the highspeed network began leaking data to the sony internet. A Hacking Group linked to north korea is expected. In terms of numbers of cities, and the ofs largest market outside the United States. At cvs blackout on dish network, that did not last long. A multiyear deal hours after programming was pulled from the Satellite Network friday night. They also agreed to end the after this feature allows viewers to skip commercials. In timein time for the footballe this weekend. Bloomberg television is on the markets. Olivia sterns has more. Futures are in focus this morning. The price of Oil Continues to plunge. Trading at a fiveyear low right now after a decision last month to maintain the outlook despite growing supplies. To cut theiranks price forecast. A look at how you may be able to make money. Lets start with you. How low can we go. Cuthe decision not to supply and market share and now. The new story is just accelerating at this point. We are seeing shortterm speculators trading against longterm speculators as crude oil is down so much from its high. Ook at the inflows it is a sign to us that longerterm traders are looking to buy and hold down here versus shortterm speculators in the market. A lot of questions about the motivations and whether theyre trying put the shale producers out of business. Do you have a sense of when supply will be . Geek . Peak . Is difficult side to determine. If we look at the futures curve, we are right now seeing oversupply. We look at the relationship and right now, business as usual. All right. I want to bring you in here. With all that in mind, how would you trade oil right now . No technical basis right now. We are in no mans land. The market is really trading more on fear than anything else. What i am looking for is. Hortterm trade based on the market moving two or three percent, we want to sell at 6790. Not is short term and it is based on technicals were fundamentals. It is almost like the perfect this correctly. 6375 downside and 6590 to the upside. About two dollars and . 15 of a aboutich fits right in that 3 range of where it is trading in. A profit of two dollars 15 cents, if you have your calculator out. Scotland actually make a profit of more than 2100 at 2150 per contract. Have got you, do you have a longerterm view on oil . I really would get into the marketplace, when we see the bottom fall out, about 60 per barrel, that is when you will see capitulation here. The guest just said you are seeing all these inflows, meaning longerterm players are buying up and we are really looking at that. To get in below 60 year and that is where i hold for quite a time. Thank you so much. We will leave it there. Againl be on the markets in 30 minutes. Betty, back to you. Lets thank you. The price of oil is weighing heavily on the highestpaid oil executive. He has lost well over 100 million. It is now fallen by nearly a half. It is become one of the worst performers on the s p peer the stock is down as much as 67 during the last five months. Here with me now to take a closer look at the compensation numbers is laura. Still worth a lot of money. He is. Almost 6 million and 21 million of that is cash, which is pretty high. Might want to hold cash the way the oil is going. The compensation has fallen, what other pressures . The analysts they have been a landg to says that Drilling Company in the u. S. , they face a lot of pressure. The decline in a price of oil has a major effect on the stock price. Pace fell by about 46 million. , chevron, allxon those ceos is combined, they only fell 24 million. Sincelly took a big hit the summer. Why is that . A lot of the pay is in stocks. He also has about 42 million in equity. Immediate ands some of that is overtime. You could value the potential pay to receive. Tying pay to performance . You dont perform, with correctly think so. It is interesting because weve never passed on it since we started in 2009. Never liked it. They getat the way paid, for ending unemployment degroot up employment agreement. Anyone close to 4 million just for changing the employment agreement. You can see where shareholders might get riled up about that. Thank you so much. Joining us from bloomberg. Much more, blog bloomberg inw economist and weighs on the debate over consumption. Concerns about china, why they are way overblown. Plus, wifi on an airplane. Bringompany is working to the internet to the friendly skies and they have an amazing announcement coming up. Stay in the loop. Were watching Global Leader of entertainment, just announcing a new partnership is to provide Digital Content and wifi on board planes. Joining us exclusively is the ceo of global entertainment. Great to see this Morning Bright and early in l. A. Legal puts wifi on airplanes internationally. Do big question is, why airplanes not already have wifi . Why are they not already retro theirthere. Wrath aircrafts . You have to look at this globally. Most airlines people fly in today have some form of wifi on , or byprovided by us other competitors. If you look globally, this is a brandnew Technology Starting to spread. We estimate the total global to receive inflight wifi, only between five and 10 of the market is penetrated today. This is brandnew and it is just getting rolling. Tell me about this deal. Why just a trial run at this moment . Exciting deal for a couple of reasons. One is because it is air france, a major global carrier. But equally so because it is a partnership with a Major Telecom divider. And we areave a deal working together to provide Internet Connectivity to air france. Things is todo trial. Ith a a number ofd for months and make sure everyone is happy with it and hope lee go to a much wider role on air france. The upfrontause cost is so much that airplanes, air carriers do not just do this automatically . How much does it cost . When you are making modifications to aircrafts, there are safety concerns. Things arefferent done to test the system. Our system is flying on 600 airplanes around the world today. Airlines are basically comes to hear it we are confident this will roll out Going Forward. To justuch does it cost retrofit one airplane, medium bodied . Depends from carrier to carrier. Range 200 prices can to 300,000 but that price range is abroad. Classaction i imagine it could end up being quite a bit of money. Is, we wereestion just with cruise ship ceo and carnival and the caribbean, both of those guys told me, we will to be wifips enabled. Any type of potential between the airlines and the cruise lines industries . That is a great question. Passengers tong be connected everywhere they go is insatiable. This is rolling out everywhere. Cruise lines are a big deal. Media content. If you look at our company, 65 today is providing media content to cruise lines to use on the ships. Partnerships between Companies Like ours and various cruise lines are likely to expand Going Forward. On the cruise lines, you are able to stream video. Netflix or to watch other types of entertainment. Why cant you do that . It is difficult on cruise lines. Remember that what youre doing is basically sharing our stream of yourwith over 100 fellow passengers essentially. Getting that much bandwidth to the aircraft is difficult. It is difficult to stream netflix and that stuff today. Going forward with some of the newer technologies on the it will be possible in a year or two. Getting back to the air france deal, who is really putting