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tv   Markets Now  FOX Business  March 13, 2014 1:00pm-2:01pm EDT

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adam: into thin air, new questions about the disappearance of the malaysian airlines flight, the confusion as the '40's and radar reports on the plane's possible location and the outlandish conspiracy theories which are now emerging. adam: retail sales surprise as consumers hit the stores in february. the good news isn't boosting the stock market. we are sitting at a session lows, the dow down 162 points despite the good news we got. adam: ever changing general motors timeline, what the automaker says about the question. adam: no overtime rules could lead to more jobs. we had an exclusive interview coming up with kevin ready, in restaurants in the middle of the storm. that will be great. ashley: we willthe idea. adam: the hunt for the missing
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airline flight, one report says the plane may have flown four hours following its last communication with air-traffic control. let's bring in ashley webster. the story is confounding. ashley: we are back to square one in this bermuda triangle like story with each passing day generating new theories and claims but bottom line no tangible sign of malaysia airlines flight 370 and the 239 people on board. the report as you alluded to in today's wall street journal quoting u.s. investigators claiming the plane flew about four hours after that last contacts. all based on a plane's injuns that transmit to the ground as part of routine maintenance program. rolls-royce apparently in the last few seconds saying we did get some information but malaysian officials denying the report saying they have been in contact with boeing and rolls-royce since sunday. the issue was never raised.
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as the confusion deepens malaysian authorities expanded their search for the missing jetliner westward toward india's this time saying it could be possible plane flew to several hours after its last contact. that makes finding the boeing 777 a much more difficult task and raises the possibility that searchers all this time have been looking in the wrong place. it is the lease of the series of false leads. after the southern tip of vietnam, satellite images show three floating objects. they put that out, china says those images were released by mistake. dozens of ships and aircraft from 12 countries have joined forces to search an area estimated at 35,000 square miles, still have seen nothing. that area about the size of portugal. experts say if the plane crashed into the ocean than some debris should be floating on the
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surface even if most of the jet is submerged. investigators not ruling out any possible cause of the plane's disappearance but analysts increasingly saying finding out why the transponder stopped transmitting could be the vital key to all of this. in the meantime as you said, it is the kind of story that is giving conspiracy theorists a field day. cheryl: we were talking incessantly about this. aliens? the iranian passengers were trying to get the semiconductor out of the country where the plane is now? >> we should keep in mind we have 200 plus souls not accounted for one theory there was ukrainian gold in the cargo hold and that has somehow been stolen. ashley: as you can imagine in this age of the internet all the different ceres, another one that the plane is in vietnam waiting to be used as a weapon
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in not 9/11 style attack, also the of the not be involved, the wikipedia page says it was the 404th 777 produced. http 404 on your error means not found. cheryl: beijing wanted those employees but those are -- they were basically the best and brightest. ashley: high-tech computer wizards, the chinese tried to kidnap them or the u.s. knew about it and they were involved. you have a jetliner in the modern era that has disappeared in an era when google can find you in an instant. ashley: the biggest mystery in modern aviation history, no doubt. one other thing, cellphones, a terrible time for the greeting family and friends of the missing, they pick up a cellphone and call the number and it rings giving them hope
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that perhaps there somewhere new. it does happen, doesn't mean anything in the cell phone company saying even if the connection is trying to find that phone it gives a ringing sound. cheryl: they are holding out hope to find your family members. ashley: confusion endanger as this goes on. adam: take a look at stocks, the loss is accelerating on wall street. nicole petallides, what is going on? nicole: pretty amazing. in just the last few minutes we dropped another 40 points. right now we are down 202 points at session lows of the day. there are two key stories everyone on wall street has been following and continue to evolve. the first is the ukraine story and the tensions which reportedly have been coupled with concerns about china growth shrinking and now you talk about
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china and the loans that they make out from the banks and that is not necessarily good news so you are seeing weakness that every sector with the exception of utilities, technology, industrial, oil and gas and financial are the worst of the bunch. utility squeezing out a gain. ashley: nicole petallides point out that all industries down 3%. cheryl: we will follow these markets. a lot of concerns about china. is ukraine vote coming up but we had decent news today, retail saw a rebound in the numbers, retailers beating expectations for february, the last in three month. let's bring in david lucks, stiegel necklace managing director. what do you make -- let's look at the broader market. what is going on? >> thanks for having me. a combination of a lot of things. first and foremost we are starting to reach a end game
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with what is going on in ukraine with the vote this weekend. we have been seeing a lot of angst with european partners across the atlantic. germany's market is down almost 7% in march even though the s&p is basically flat. a lot of european partners liquidating a lot of stocks, reversing out of a lot of risk because they will be so impacted if sanctions go through on ukraine. that is the first thing causing angst. the second is whatever is going on in china. are they trying to avert a hard landing? will they have to start easing their policies because at this point all their economic indicators seem to be falling apart. margin calls going on in china whether it is what is going on in copper or whether it is going on in a lot of global equities so that is causing the angst. i hate to sell you retail sales are causing angst today. cheryl: a positive number, 22% for online sales and the music of 2%?
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these never surprise me. >> a lot of that was you hit the nail on the head. online sales, online sales continue to be a big driver especially since the northeast got its worst snow fall we have seen in the last 20 years in the month of february so lot of people couldn't necessarily get in their cars and goes so they were clicking on line. that is why the street is moving -- cheryl: he to take it back to the daily market moves but i am watching the nasdaq, we are now pushing on 2% for the nasdaq, the dow is down 200 points. it seems that news out of china and the banks, it is a short-term look on your radar, you don't track this day today but that is what we are watching. >> there is a lot of concern with what is going on in china and the banks and then attacking their shadow banking system. a lot of commodities and equities globally. back to the retail sales, we got
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the federal reserve announcing on interest rates and nobody is anticipating interest rates to go about the solid retail sales topped any chance of them slowing down the tapering the effect from $65 billion a month to $55 billion a month so we have less accommodation from the fed, very hawkish comments from the german finance minister yesterday talking about rates in europe so it sees people are pulling away little bit from all this liquidity being injected in the system and as you said right away what is going on in china they are cramping down on credit right now and that is causing a lot of angst with margin positions as well. cheryl: they have always been a thorn in the side of u.s. investors because of transparency or lack thereof. great to have you watching the market's sell-off, appreciate your commentary. adam: game on for president obama who will use executive power later today to expand over time pay for millions of workers. rich edson live at the white house with more on this.
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rich: as the department of labour to come up with a new system which works if you are a white collar worker or salaried workers and you get paid $450 or less a week if you work more than 40 hours you are owed overtime pay and that is peripheral rules. president obama wants the labor department to look at expanding that to more folks. the white house even says when you do expand that, people work fewer hours and as a result of that they say studies show there will be more hiring. this is one study from london school of economics in 1993 the white house provided us with saying, quote, productions in hours of work are not likely to lead to an increase in the hourly wage and will therefore reduce unemployment by sharing any given volume of work among more people. one analyst says the president's proposal will mean little effect. >> barely small policy change, it could have negative consequences for our employees but more important there is more
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important and better things to do to get america working again. >> the president's announcement is next hour and this is part of the president announced in the state of the union address, used his pen in executive order, and along the lines with raising minimum wage for federal contract workers in the future. adam: we are going to hear from noodles and company's ceo exclusively about the impact this could have 4 employees in their business coming up a little later. cheryl: can't wait for that interview. shares of amazon bucking the trend of the market sell-off we are in the middle of. on the upside, amazon announcing it raised fees for prime membership from $99 to $79 a year. the first price increase for amazon prime in the company's history, and customers, people
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who own this stock are buying it today. adam: amazon can do no wrong for a lot of investors. cheryl: online sales for february. the ultimate test for general motors's new ceo, the automaker singing a different tune about the massive ignitions which recall. actually detected the problem. adam: best buy hopes next time you walk into its store you walk out with the few solar panels. we have the details coming. cheryl: charlie gasparino with the details of a mysterious death on wall street after a series of untimely deaths, nobody knows the story like charlie does. that is later on.
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adam: general motors changing its story, the company first learned about ignition problem causing more than 1 million vehicles to be recalled. sandra smith is joining us with more details. >> they knew of the faulty ignition switches dating back to
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2001, three years earlier, to determine the full scope of the problem. it is evolving on a daily basis. when they first started getting reports of engine stalling that is when they first noticed the problem. in 2003 general motors dealer technicians eggs or a stalling and and it was 2004 the first year that gm previously said it first learned of the engine moving power due to this ignition problem. now we know it was 2001 and in 2007 gm received more reports of engine problems including at least one involving a fatal accident. three years later kobold productions was halted and in 2012 gm determined the ignition switch was related to 31 crashes and 12 deaths which brings us to the recall of this year,
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1.6 million cars have now been recalled and develop along those lines general motors is now also saying even after the vehicle in its editions which recall are prepared owners should avoid wading down their key rings with anything other than becky and the fob. they are down another 2.5% and walked 10% over the past week alone. this story continues to develop a. the ceo took over early this year, looked at this as an opportunity to polish the reputation of general motors and she said that as soon as she learned of the problem she brought it to the forefront and treated it with the immediacy. lou: thank you very much. cheryl: time for west coast minute. a new cable-tv fight playing out in los angeles over baseball and it could mean problems for
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regional sports channels around the country. sportsnet l a which is owned by the dodgers is asking cable companies to pay record carriage fees but l a distributors like directv and time warner cable are balking at a price jump. time warner was involved in the creation of sportsnet l a through an $8 billion media deal. we will keep an eye on it. california-based solar city has struck a deal with best buy to sell solar panels to several bay area stores. set up where exports look out your home on a satellite matt to see if it makes sense to go solar. this could be a win/win for best buy and solar customers. a new report is warning if a 9 magnitude earthquake were to strike the north coast of california a giant tsunami washed away coastal towns, destroy hundred bridges and cause $70 billion in damage. they have been closely monitoring the system where three tectonic plates are pushing against each other. this was northern california,
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oregon and washington advice to work on warning systems. if default were to rupture again, seven years in california, it is ang. you only get 15 minutes. adam: there are earthquakes all the time and they don't realize it. cheryl: those faults in the ocean with a cause of the two earthquake we had the last 15 years in california which is why they are concerned about that area. adam: the eighth largest academy of the world. cheryl: it would wash away the 101. you know what i am talking about. adam: no more traffic jams. turning to amazon, the world's largest online retailer opening the door on 3d product. from last stage to jewelry, we hear from the start of the kind all but first on fox business interview, 3d's ceo. cheryl: president obama's executive order on what
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businesses must pay workers, kevin ready is coming up next on what this could mean for his business or businesses across the country. you don't want to miss this interview.
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cheryl: update you on what is happening with the markets. we got some disconcerting news about china, and also new concerns among traders about ukraine. the ukraine, you can see off of session lows, 200 points on the dow but these losses, the s&p down 0.9% so we continue to watch the markets. retail sales numbers not helping us with these markets. adam: you to date it is up 11% having to do with food. who doesn't like food? want to talk about this? washington is taking aim at the fast-food industry, planning to expand the ability of millions of workers when combined with increased minimum-wage could send costs for business skyrocketing. kevin ready is ceo of noodles and co. their stock up 11% 10 with 380 restaurants and 6500 employees it is sure to feel the heat from washington d.c.. she joins us for a first on fox
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exclusive along with terrific example of the food you can get in 29 different states, i appeal almost a year ago things going well but before we get into the shoes out of washington very quick for investors this is a tough sector to be in. don't want to say fast-food because you are offering something higher grade but how do you make it successful? >> we think of ourselves as your kitchen and if you look at sampling some of the food tim brought over today we offered dishes that are global flavors from around the world, favorites from kids to adults, healthy to indulge in dishes and the fresh produce naturally raised pork. that variety of offerings at a really compelling value which allows us to grow successfully. cheryl: in the next hour the project is a signing another executive order and this is going to change how fast food managers are paid. this will directly through the
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labor department affect you. how are you going to handle the increase in costs at the store level? some stores, you franchise others. >> we are 80% company-owned. i can speak to specifics because we haven't heard what the specifics are going to be yet. cheryl: it is overtime pay. basically they should be getting overtime pay and they are not. >> in california there are different groups of over time, salaried employees that work overtime that are in the transition between full-time salaried management they get paid overtime and because of the law even your salary exempt folks get paid overtime. i think that model may move to the country. whether it is minimum wage increases work over time we will all you have to be creative and find ways to absorb those costs but really focus -- cheryl: would you layoff people? >> at the end of the day to be a successful business you have to deliver for your consumer and
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hospitality business you have to have people that are happy, engaged, interactive with the guests. you have to pay enough to take money off the table and provide the opportunities and growth. adam: the administration says if you do this it would spur hiring. would this put a squeeze on your margins? >> absolutely would put a squeeze on margins. when you raise costs as business individuals, we try to balance doing the right thing for our shareholders and the right thing for our team and our guests. something has to give. we find ways to do it. cammed give me a sense what is happening in the economy. when you break out bars and restaurants sales jumped by 0.3% for february. i don't know about you but i wouldn't have expected that with the weather. do you see an uptick as well? >> based on distribution of our restaurants, last quarterly release talked about the weather being relatively severe for our geography so we have seen a softening from our run rate,
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guided to the first quarter but really compelling thing is what the experience of the team and how strong momentum we have we did not change our annual guidance though there are probably some folks at airports like 77,000 flights canceled, restaurants and airports doing well. adam: investors clearly like not only would their eating but your stock as well and 80% of the stores don't buy the company, 20% franchise. all the best to you. cheryl: you can leave this. adam: you are from cleveland. cheryl: 3d printed hearings and i phone case. how retail giant amazon is getting into the 3d business. >> dangerous pollution coming with an unlikely side effects, a higher salary. details on the smog bonus. you don't want it.
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cheryl: can take sufferers listen up, new technology that will let you ditch the eccentric. how it works and if the science stacks up. is this real? coming up. it's a growing trend in business: do more with less th less energy.hp is he. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind.
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cheryl: want to update you what is going on in the markets. we're seeing a major selloff. two names in the green, proctor & gamble and at&t. overall seeing red. intraday action particularly on the dow. at one point we were at session lows. this is right here on the screen, 211 points to the downside. we're picking up a little bit. falling and picking up just a little bit today. much concerns about ukraine and concerns about china on the markets today. frayingly at types this is fourth day in a row for the dow. nerves seem to come back into the markets. let's go to the new york stock exchange and
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nicole petallides. you're watching big stocks. herbalife was halted during this hour yesterday, news pending that stock had a rough day yesterday. what is going on today? >> indeed. yesterday herbalife dropped 7 1/2%. today no bounce back in sight. on the contrary it is down nearly 5% at this time at 57.58. yes it was halted in this hour. there was some concern about news pending. of it turned out that the ftc was looking at investigating into herbalife's practices over there in china particular and whether or not it is in fact a pyramid scheme or the way they market there. so that has been a major concern of bill ackman of pershing, who in fact has been shorting the company saying exactly that. herbalife, they are happy to work with the ftc. adam: nicole petallides. thank you very much. amazon opening up its online marketplace to 3-d printed
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pilots. it's a pilot program. the e-commerce giant is partnering with the offerings on the site which range from belt buckles to lampshades and all manufactured using 3-d printed technology. many of these manufacturers hope amazon's move will bring more of these products to mainstream. we have the ceo of 3-d lte. he joins us from cincinnati. we realize this is experimental program with other companies similar to yours. why would a consumer want to purchase a 3-d printed product as oppose ad product made in conventional man officer. >> it gives them more select hundred without the supply chain costs. more innovation to get to market. new types of products, new designs. brings custom ages their products more than a mass produced product. all kind of additional benefits. adam: as you and i talk we'll shop pictures and samples of
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your company is making to sell to amazon customers. could this cell phone case or belt buckle thaw offer is that something i could personalize through the amazon offering? >> not at this point but the technology is starting to get there to the point where we would be able to do that. as we continue to expand out you know what this experiment looks like, that is potentially in the road map. adam: that is only within the last week or two this has been available to customers on the amazon site. i don't know if you're allowed to release the actual data, he i have to ask it, what are you numbers, how is it looking? >> so we, i think everybody wanted this to start relatively slow and build up to give us a chance to work out what the production process was going to look like in real time. we've done sales through our own site. i think we designed it by default to kind of ramp up and start relatively slow. that is what i can tell you right out of the gate.
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we look forward to moving the needle really quickly and building up our relationship with the company. >> you talk about moving the needle quickly. it was less than a year ago i had the opportunity to interview marc andreessen in "all things d" and you go to a store with 3 d printer and whatever you want and it would be boom, made on site s that happening far faster than he anticipated it? >> anybody who has been around three d printing and discussing had that vision. it comes down to pace of innovation. when two d printing came along it took a long time to mainstream out in part because so few companies are involved. today with crowd funding and all things going on with multiple companies participating the needle is moving a lot faster in terms of getting products to retail. for retailers the challenge is equally big because you know, e-commerce has certainly played a role how they changed their
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business model. for brick-and-mortar to remain relevant, tools like 3d printing are very valuable. adam: john howard, from 3 dlt prints ice cream. you will be a gazillion nair. >> thank you. cheryl: i should hope for hundred dollar bills. adam: someone will figure that out. cheryl: someone will get there. it's a wall street mystery. we your attention here on fox business a horrifying string of suicides. what is going on? adam: a good question to ask charlie gasparino. he will be here next with exclusive details and answers for us. what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading.
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does breathing with copd weigh you down? don't wait to ask your doctor about spiriva. >> i'm david asman with your fox business brief. barnes & noble and microsoft will develop a new microsoft e reader app for windows. it will be cobranded with the nook. this move updates the agreement made in 2012 when microsoft invested $300 million for a minority stake in nook media. the justice department is disputing a mortgage fraud report from its own inspector general. despite receiving $196 million to combat mortgage fraud activities between 2009 and 2011, the number of fbi agents working cases and number of open investigations actually decreased. a do-7 spokesperson counters that number of indictments and convictions saying they increased. average fix yeared mortgage
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rate rose 4.37%, up from the last week's 4.28. that is the latest from the fox business network, giving you the power to prosper.
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adam: wall street can't ignore this. some disturbing patterns emerging in the string of alleged suicides on wall street. charlie gasparino is here with exclusive details. >> here is the thing. you don't want to generalize from a handful. i think there have been six or seven since this, sort of spate of suicide began late last year. but it has been in a very concentrated period of time. we did some reporting on it. there was another gentleman who worked at firm where friend of mine runs it. this is very sad situation. there is the timeline. you can see this is cluster. there are things i will say. take it for what it is worth. i'm not a psychiatrist or
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psychologist but i'm a simple country reporter. there are patterns here. a lot of guys when you talk to people that know them were suffering from certain depression with family issues. this gentleman happened to be the divorced with kids and, obviously paying child support. here is the overriding thing. and here is why, a lot of people, you know, if you read blogs, this is like there are urban legend coming out of nowhere, why this is happening how they're involved in scams. i don't think so. this is matter of people who have money issues. most, a lot of guys on wall street have money issues right now. people that were making 500 are making less than 100 a year. they have families. they have issues. put all that together, you, those are the seeds of, of, you know, depression, and people who are depressed, you know, often, not all the time, when they don't reach out for help, they commit suicide. cheryl: this happens in any
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business. whether you're a medical practice goes under. you know. >> why aren't, yes, but you don't see a lost navy seals, god for bid, see them committing suicide. i don't hear about many journalists going out there and committing suicide. there is something about this business i believe, without playing pop psychologist, something about -- cheryl: you know wall street. >> talking about time a personalities. people who define themselves by their wealth, generally despite you read in the paper, bonuses in being up, a lot of guys on wall street and gals are not making a lot of money. there are not a lot of jobs. two firms gone by the wayside, three. merrill lynch kept the broker division and merged into bank of america. lehman is gone. >> bear stearns. >> mf global is gone. go right down and the firms are getting smaller. the firms that are existing, sales and trading people used to make ain. lucky if they make 300,000 now. they have wives.
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they have kids. some have mistresses. what i'm saying here. they have expenses and when you put, all that together, that is the recipe for this. i think that is the story. adam: except, and there is, you can't ignore the cluster and the suicides. on the other hand we've had financial downturns, people who worked at lehman, lots of these same kind of people lost everything they owned when lehman went bankrupt. there wasn't a cluster of suicide. >> there was a cluster of suicides in the financial crisis. not as big as this one i would say but people committed suicide. gentleman from bear stearns. i don't know all the people at lehman. maybe somebody did or didn't. there were people, gentleman at bear stearns around the madoff stuff. adam: but we're talking. >> and others. adam: hundreds of millions of dollars he lost with his clients money. >> i agree with you. some isn't explained by what i'm saying. you can never explain everything. that is why this is just, this is story that i think we're going to see because, you know, when you put all those factors
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together, you know, you do have a combustible combination. i don't want to play pop psychiatrist, you almost have to when you do a story like this. but there are patterns here. when you mix the fact that you have type-a personalities who have expenses, on top of the fact that they are not making a lot of money right now. on top of the fact, many of these people define themselves based on how much money they make, that is a combustible combination and you will get stuff like this. i tell you, if you look at one timeline, if we can show it one more time, that to me tells the story. this is pretty remarkable thing. since the end of last year you had a lot of suicide on wall street. it's scary. adam: charlie gasparino, i know you've been following this. we talked about this from time to time. hopefully this is the last time and does not continue. >> i gotcha. cheryl: thank you, charlie. rapping up for what making the
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be the biggest ipo this year. china's alibaba may be shipping off to the good ol' usa. adam: one company is offering to pay employees extra to deal with the dangerous smog in china. announcer: where can an investor be a name and not a number? scotade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: ranked highest in investor satisfaction with self-directed services by j.d. power and associates. ♪ see what's new at projectluna.com
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but company from overseas alibaba, e-commerce giant, alibaba is 95% it will ipo in new york rather than hong kong. jo ling kent with more on this one. >> hey, adam. alibaba is inching closer and close to going public. financial times says the e-commerce behemoth is 95% certain it willies in new york. in a statement to fox business a spokesperson denied any specifics saying we have no timetable, no venue and no underwriters hired for a ipo event. nyse did not immediately respond to our request for comment. alibaba abandoned plans in hong kong with bored nomination concerns. they refused to bend its one share, one vote position. private transactions, totaled $120 billion for alibaba. that is good news for yahoo! which owns a 24% stake in the company. in its agreement with the
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company, yahoo! has certain incentives to go public before 2014. the stock is down a little bit. alibaba is working moring a gross sieve in the u.s., a e-commerce site that will likely compete with ebay and amazon. if alibaba lists in new york it will need to raise $18 billion, which is visa's ipo if they want to big the biggest one. adam: jo ling, thank you very much. >> thanks. cheryl: china has a bit of a smog problem from all that pollution and one company is trying to reduce the employees working in china by get this, giving them a raise. japanese electronics firm, panasonic will pay a premium for chinese workers to compensate for having to breathe dirty air. the pollution is at 15 times daily maximum recommended by get this, the world health organization. adam: for that air, take a slice of it and bring it home as a souvenir. suffer from migraine
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headaches in a device worn on your head may prevent them. >> dr. devi with the medical science on the first-ever fda approved electronic headband for migraines. we'll be right back. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review.
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adam: the story everyone is talking about the malaysian airplane which disappeared. we want to bring you latest on the search for the malaysian airlines plane. the white house says the search may widen to the indian ocean. the white house press secretary doesn't have anything more to report at this time but jay carney said they are going to perhaps, a possibility to the indian ocean. cheryl: where is that plane? where is that plane? adam: a question everyone wants to know. cheryl: do you, a lot of you do, probably, do you suffer from migraines? forget medication. this is fascinating. battery powered headband may be what the doctor ordered. this is fda approved medical
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device designed to improve migraines with electrical currents without any side-effects in 20 minutes. is this too good to be true? let's bring in nyu school of medicine doctor deaf very. do you buy it? >> this is promisings for a couple reasons. they're focusing on preventative treatments rather than waiting until a migraine already has kicked in. many people are disabled at that point. that there is device than medication fewer side-effects. doesn't make you sleepy. adam: this device would send electric pulse to specific nerves? does it target the nerves to specifically target? do we know enough about migraines to do that? >> there are a couple different nerves involved. we think there is be a normality in the type of electrical impulses in the brain. after that from the brain it hits the nerves across the face. that is why people have pain across the scalp, foreahead the eye. this hits the nerves where they
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hit the must ills so it may be able to prevent migraines that way. cheryl: we're looking at it now. that is person's head. it is right between the eyes. so goes right in here. >> yeah. cheryl: is there concern on the medical side about having currents go through, talking about the brain, the eyes, the nasal passages. i mean is there concern about that? fda already go through this? >> the fda looked at those things. it's a low level of current. not a huge amount. enough to cause a tingling sensation. it wouldn't be painful to people but they would feel adam: the fact that the fda reviewed this means it works? >> not necessarily. they want to do rigorous research and that it is not
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worse or more harmful than other treatments. it is not more harmful but relatively safe. adam: but does it work? >> we don't know for sure. in terms of the study itself and did a rigorous study. seems like it does. they got the device from the manufacturer. there could be an element of bias. i still think it probably will help people not necessarily, it might not work by itself. it might work in combination with things. melissa: like like the medical, despite what happened with obamacare, that the device companies, a lot of r&d is spent on preventative treatments for thinks like migraines or cancer or diabetes. seems like we're making a lot of strides despite what the government is doing? >> i think so. prevention is the key here. this is the easiest way to help for costs with everything. r&d is area we need to spend money? melissa: sure. >> besides medications, i don't mean besides medication, botox is using to prevent migraines a lot of strategies coming about
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recently. melissa: they started using botox back in the day. turned out it had cost met mick effects. >> side-effects. adam: dr. devi, thank you very much. >> mice to see you again. adam: there is sobering new study exposes the frailty of the u.s. power grid. the federal regulatory commission reported that the united states could suffer a massive coast to coast blackout if saboteurs knocked out nine of the country's 55 electric substations, just nine. the energy regulator concluded coordinated attacks in each of the nation's three separate electrical systems could cause the entire network to collapse. perhaps even more eye-opening now. there are no federal rules that require utilities to protect vital substations except those at nuclear power plants. of course the news reports of this have not identify those nine stations you would need to target. melissa: certainly, there is so much news we have to follow. look at dow down 110 points. we're actually kind of creeping
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back. adam: we're going to hand off unfortunately a selloff to melissa francis to take us through the next hour of "money." melissa: that's right. we're seconds away on breaking news with the treasury budget. peter barnes is standing by with that. the market is taking a beating. we're following every move. we have info you need to know how big of a risk national blackout for months? could be more likely than you ever imagineed? we have lingerie models on set. we're going to denver's first marijuana job fair. even when they say it is not, it is always about "money". breaking news as promised let's go to peter barnes in washington. peter. >> hey, melissa. the treasury department just reporting a deficit for february of $194 billion. that compares to a deficit of 204 billion in february last year. for the first five months of the fiscal year, 2014, the deficit fell to 377 billion from 494 billion in the same period of fiscal 2013. that's a reduction

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