Mark an executive at a French Company at arkema said explosions at its factory in the houston area will not hold future dangers but he is but he expect more containers to burn. I am not sure about the distance of the containers themselves are in a remote area so we do not anticipate any other buildings or equipment to be a problem. Mark of Officials Say harvey knocked out Critical Power supplies required to keep volatile peroxide cooled. 15 Police Officers were treated at the hospital for smoke inhalation. Floodwaters are receiving the houston area and firefighters plan to conduct a block by block certain areas that were inaccessible. The death toll has risen to 31. Harvey has now knocked out almost one fourth of u. S. Oil refining capacity, steelmaking capacity at a sevenyear low. Beaumont, texas has lost its water supply and officials said city has lost the Surface Service because the rising waters. Officials say they must wait until the water levels recede before they can it determi
In a timely matter. That set down futures by more than 100 points. Alleged alqaeda member alliby captured in libya earlier in october. He was accused of helping alqaeda to bomb embassies in tunisia and libya. If you want more news from al jazeera go over to our website at www. Aljazeera. Com. Real money with ali velshi is next with al jazeera. Deal or no deal damage has been done to the u. S. Economy and job market. And theyre highly educated but struggling to make ends meet. A look at americas new working poor. Plus talking about recession resistant. Now one entrepreneur made an entire business out of meatballs. Im ali velshi, and this is real money. This is real money. You are the most important part of our show. So join the conference by using the aj real money. Were 15 days into a Government Shutdown. And new study warns even if the u. S. Temporarily defaults on its obligations a brief recession could be the result in 2014. That would push the jobless rate to 8. 5 . It would cost 2
Were going to continue to work with our members on both sides of the aisle to try to make sure theres no issue of default and get our government reopened. His deputy eric cantor stressed the importance of fairness in any deal. We also, though, as the House Republican conference think is very, very important for us to stress in whatever proposal we move forward will reflect our position on fairness. To the House Republicans fairness looks Something Like this. Their bill will reportedly include twoyear delay of medical device tax and prohibit members of congress and members of the president s cabinet from receiving subsidies for the Nations Health care law. It will eliminate Health Insurance protections for labor unions which are outlined in the senate bill. And it would prevent the treasury from using extraordinary measures to extend the debt limit. You know, just in case we get into this mess again. The House Republican meeting reportedly began with all members joining together to sing
The aj real money. Were 15 days into a Government Shutdown. And new study warns even if the u. S. Temporarily defaults on its obligations a brief recession could be the result in 2014. That would push the jobless rate to 8. 5 . It would cost 2. 5 million jobs according to Macroeconomic Advisers firm in st. Louis and others have predicted similar forecasts. Others predict the recession would last longer and unemployment would rise to 8. 9 . 3. 1 million jobs lost. Blame will rest squarely on the officials you collected to washington. Heres why, the whole percentage point has been shaved off Economic Growth since 2010. If not for the uncertainty coming out of washington the report estimates the jobless rate would be. 6 of a percentage point lower than what it is now, 900,000 people wont be employ employed. Fitch Credit Rating agency placed the u. S. On a negative rating watch. Thats the first step of a possible down grade. Fitch warns the brinksmanship over raising the debt ceiling dance
Calls. Well talk more about david tepper and some others in just a moment. But first, andrew has a roundup of some of the mornings top stories. Andrew, that story is already here in the new york city area. I cant believe it. We needed it about a week ago. I dont know. Shocked me a bit this morning, whoa, back to work in the snow. Well, happy new year. You, too, happy new year. Fiat decided to buy the stake in chrysler it doesnt already own. This is all in cash. Once that deal closes, chrysler is committed to giving the trust an additional 700 million. The agreement ends months of tense negotiations. The deal means no chrysler ipo. Thats important because the ceo never wanted that. And phil lebeau will have more at the top of the hour. In our corporate news, mccow ka seeno has reeled a deal. Were going to talk more about the big business of gambling coming up at 7 40 eastern time. Cnbc is part of that and windsor media, an Investment Firm run by former yahoo chief terry stimble, its sig