keep their employees on staff, lenders were met with error messages and a frozen sba site. former ubs america chairman and ceo robert wolf on how both banks and the government can salvage the reputational damage. we will get some numbers and bring them to you and of course, the president as well. we are one hour away from starbucks first, as we are calling it, covid quarterly earnings report. board member clara shy on what investors can learn from starbucks china reopening plus how her company that she runs is helping major businesses, publicly traded companies, fix their biggest problem of the coronavirus crisis. slow response time for their customers. and imax stock thrilling investors in this final hour. and charlie breaks it on who is breathing down banks necks now. less than an hour to the closing bell, let s start the claman countdown. liz: all right. breaking news. as i mentioned, we are waiting for the president to speak but we just got an important number, so
growth and uncertain growth. the aussie dollar is falling sharply on that news. australian stocks, on the other hand, rallying more than 2% on the news. in asia, japan s markets were closed for the constitution day holiday. china s manager s index shrinking to a 14-month for its 14th month coming in below forecasts. a bit of a mixed picture. shanghai compost up 2%. and hang seng almost the lower. all eyes on? yeah, go for it. moving forward, in pretty negative territory. and germany is lower than 2. ftse lower than 1%. italy and spain off by more than 2% perhaps because the eu trimming its 2016 growth forecast to 1.8% from 1.9%. it s 2017 growth forecast from 1.9 to 2%. also cut inflation forecasts despite their efforts to do everything possible to try to lift inflation. watching european financials, ubs reporting a sharp decline in management wealth business. which was supposed to be all the european banks going into wealth management, they were going to be smoother
they want to place bets on individual players and instead. welcome to market makers, i am stephanie ruhle. joe: and i am joe, in for erik schatzker. stephanie: let s take you to the top business stories of the morning. we will take you to israel where voters continue to count ballots today in an election that is too close to call. one of the first to vote was prime minister benjamin netanyahu. he is trailing the zionist union, but both are well short of a majority. whoever wins will have to form a coalition government. he told voters yesterday that if he is real elected will not allow the establishment of a palestinian nation. housing starts plunged last week for the first time in over four years. blame the colder than usual weather in parts of the united states. there was a rise in the number of building permits, which means it may be a temporary slump. and they have projected an unsolicited $22 million takeover. they say this substantially undervalues the company. and jap
a blowout session in shanghai overnight. best single day gain in more than three years on a pretty decent pmi. europe has also been a blend of red and green as the ft names ecb chief the person of the year. we re going to kick off with breaking news. for that would, we go to david faber. news on best buy, in the news yesterday. the stock up sharply. what we can tell you right now is the board of directors of best buy, and its founder, richard schultz, has been trying to put together a group to essentially buy the company in a go private transaction, have extended the deadline in which he would need to come with a bid for best buy and created a window in fact that will begin on february 1st next year and end with the end of that month on february the 28th. giving schultz the opportunity to look at not just christmas sales, but the end of their fiscal year, which will end at best buy on the 31st of january. and that window, again, will be 28 days long giving him an opportunit
companies are using twitter to disrupt all sorts of industries. first, a check of your top headlines. journalist len greenwell, who broke the edward snowden story, is launching more accusations against the nsa. in his new book, greenwall claims the nsa routinely intercepted networking equipment before to plant backdoors indiegogo. eimpanies like cisco and huaw say they are not aware of the practice. microsoft has introduced a lower-priced option for the xbox one console. motion not include the sensing camera and costs $399. it brings the xbox one right in line with the sony playstation four, which has been outselling the result s product. google s motorola mobility has introduced a new smartphone. is aimed at emerging markets and will start at 100 $29 without a contract and be available in over 40 countries. the previous low tier phone, the moto g, is being upgraded to run networks. google is selling its motorola handset business to lenovo for two $.9 billion. our lead story,