report" with tyler mathisen and sue herera. >> the goal here is not to shut down the government. >> but just talking about it is starting to make some investors nervous as the deadline to get a budget deal done fast arises. a fundamental shift in the way people pay for their homes is creating a new frontier for investors and builders. heating up. why an industry known for being boring is suddenly getting hot. all of that and more on "nightly business report" for thursday, september 10th. >> good evening, everybody and welcome. one short week from today the world will watch washington and the meeting of the federal reserve but today our nation's capital grabbed at attention of

wall street for a different reason. rumblings of a government shut down on october 1st is increasing, which josh earnest addressed. >> if they maintain their insistence of trying to pass a budget along party lines, then we are going to be headed for a shut down because it's clear, to anybody who has been paying attention, they don't have the votes to pass the budget and that will result in the government shutdown. >> second, the department of justice is cracking down on wall street executives, issuing new policies that target individuals, not just companies. >> and we're not going to let companies plead ignorance either. if they don't know who is responsible, they'll need to find out. if they want any cooperation credit, they'll need to investigate. and to identify the responsible parties and then provide all n nonprivileged evidence. >> and finally, the department

of justice and new york department of financial services are investigating allegations of manipulation in the u.s. treasury market, considered the most liquid and deepest market in the world. eamon javers has been following that for us. what's the big budget fight about now and what's the likelihood that we see a shutdown? >> reporter: congress has until the end of the month to figure this one out. they want to pass a continuing resolution or an overall budget likely a continuing resolution to keep the government open by the end of the month. the big sticking point, though, is going to be funding for planned parenthood. republicans in particular concerned about planned parenthood support of abortion rights. that one is an issue that we know in american politics there's not a lot of give on either side on. the challenge for leaders in both parties now is going to be figure out a way to make this vote not about planned parenthood. one thing that sources on the hill tell me today that is going to be key is whether the pro-life groups decide to score that vote on the budget as a

vote on pro-life issues. if they don't, that will give a lot of republican lawmakers the leeway to continue the government. if not, we could be in a situation where we are headed for a government shutdown now. >> is the justice department fundamentally changing the way it prosecutes white collar crime? >> they are changing the way they begin their investigations. what deputy attorney general sally yates said in new york, for too long, corporations have been able to write a check and cop to civil charges but not face, for their individual executives, any criminal charges and throw anybody in jail. she said that's going to change and part of the way they are going to change that over the department of justice is by beginning these investigations, going after individuals from the get-go as opposed to going after a major settlement number. so often they are going after the big check and not going after the executives. this way they say if the companies want to get any credit for cooperating at all, they are going to have to turn over the

actual names of the actual human beings who committed the fraud inside these companies. >> let's turn now to that reported investigation into the treasury market. how concerned should investors be? >> reporter: well, look, the treasury market is vital both to global finance and to the united states' ability to fund itself. we run into a huge deficit and the way we finance that is by selling treasuries. there's a lot to be concerned about in this market. i think this one has the potential at least to be as big as the libor scandal that we saw. the question is whether or not there is actual manipulation that the government can prove here, if there's a smoking gun text messages and the like, then it could be a big one to watch. >> eamon, thank you very much. >> you bet. on wall street, a pause from the volatility. investors had a chance to breathe and digest comments from david tepper, an influential hedge fund manager, who said he was concerned about earnings and was not overly bullish on stocks next year. by the close of trading, the dow

jones industrial average rose 7 of points to 16,330. the nasdaq climbed 39. the s&p 500 gained 10. overseas, investors paid attention to china and comments from the premier who said his court country's state is in good hands. >> reporter: chinese premier league used the opportunity at the keynote address here at the world economic forum to address two key international investor concerns. one, is the reaction of the chinese currency and, two, the state of growth. we have a continuing slew of weaker economic data. the premier wanted to reassure investors that china will hit somewhere close to the 7% gdp target growth rate this year. he said there will be no hard landing for this economy.

on the currency, he also said there will be stability and no policy trying to devalue the chinese beat, a competitive advantage. both of these messages should go down quite well with international investors and they will probably be positively received by the u.s. administration just weeks before president xi jingping is expected to arrive on a state visit. this is from the economic forum for "nightly business report." and a multibillion dollar deal in the logistics industry to talk about. it's not an area we talk about every day but one that keeps the economy moving since it gets products from point a to the place where consumers, like you and i, can buy them. as we were first reporting last night. xpo is acquiring the trucking company conway for $3 billion

and that sent shares soaring, as you can see there. and those of xpo, they went the other way, down 11%. morgan brennan reports why this once boring sector finally has investors' attention. >> reporter: the acquisition of conway had a massive transformation taking place. >> for xpo, this takes them from being a global logistics truck brokerage freight player to really being a leader in the north america theater, being able to offer full service, any and all kind of trucking services you might need. >> reporter: conway, the latest in a long line of acquisitions for xpo. the company has made more than a dozen deals, including the $3.5 billion purchase of french trucker in june. it has all resulted in gangbuster growth with revenue that will tout $15 billion

annually once this measure is complete but it's not just xpo either. ups acquired coyote logistics and the bid for t & t express is awaiting regulatory approval. already more than the $12 billion for all of 2014. experts expect the deal-making to continue as the economy picks up and fuel prices remain low and financing stays cheap. >> we've seen this trend where companies are not only expanding their presence in a particular sector that they compete in, but they are expanding the fleet of services that they can offer. so when they go to customers, they can say, whatever it is you need, whatever it is you need picked up from point a to point b delivered via whatever mode, we have a way of accomplishing that for you. >> reporter: the president of the consulting group, a transportation consulting firm,

agreed. he expects to see more acquisition as companies expand in search of more efficiency. for that reason, he thinks future potential takeover targets could include universal truck road services. two stocks that also popped on today's m & a news. for "nightly business report," i'm morgan brennan. and now to another pillar of the economy. housing. average long-term u.s. mortgage rates inched up this week. freddie mac says the rate on a 30-year fix rate is now 3.9%. mortgage rates are watched closely by people looking to buy or refinance a house but a growing number could careless because a big change is taking place, one where many people don't dream of buying a home but instead want to rent and creating a new frontier for investors in single-family rentals and a new revenue stream for builders. diana olick explains. >> reporter: at a brand-new community just outside atlanta -- >> you have no reason to sell

any of your homes? >> i actually think we're coming into the most compelling three or four years that i have seen since i've been in the business. >> reporter: doug brian is shopping for more homes to buy for his company. a single-family rental, new homes to turn into rentals. >> we're starting to talk to more and more builders and starting to get more and more interest in not just selling us a couple of homes in a development but talking to bigger builders who want to set up a buying program with us. >> reporter: starwood along with other large-scale investors bought thousands of foreclosed homes during the housing crisis and turned them into lucrative rentals. the expectation was they would sell once home prices recovered but now they say no. rental demand is just too strong. >> i think the institutional capital is still looking at this very carefully because there is a belief and i support that belief that is a long-term hold and there's yield and there's a appreciation to be had. >> reporter: just over 44

million rental homes in the u.s., 27 million apartments and 15.5 million single-family homes or condos. single-family rentals just by over 2 million since the crash thanks to investors. not only is demand rising, but more renters are willing to pay a premium for new homes. >> if you look at the people who are renting the homes, and you look at their credit profile and their income profile, these are not like wildly different people than the people that are buying the homes. >> reporter: miami-based home builder lenar is experiencing with the idea opening a community in nevada and planning more. this new investor demand could be what the big builders need to build volume and price. for investors, it's a long-term bet that the shift away from home ownership is here to stay. for "nightly business report," i'm diana olick in new york. >> that's the key question. here to talk more about the shift from home buying to renting is susan wapner, the

professor of real estate and finance at the university of pennsylvania school of business. good to see you again. welcome back. >> pleasure. >> let's start, first of all, with that key question. do you view this as a trend that is here to stay? >> it is a trend that is here to stay. this renter demand is strong and going to get stronger. >> we seem to think there's a lot of hand wringing that we're turning from a nation of homeowners to a nation of renters. do you see it that way or does that overstate the trend? >> that overstates it. however, let's note that 53.4% is a new low, an historic low and that's quite a shift from 69% in 2004. many, many millions up to 6, 7 million new renter households, depending on how you count, net no new homeowners and now renter households are looking on the

high end new constructed single-family homes. >> you know, we've heard a lot of reasons for why this is going on but if you had to pinpoint it, what do you think is the biggest contributor for people wanting to rent rather than taking the plunge and buying? >> when you're short-term, this is a bigger issue than that. right now in terms of the surge in renting, people are locked out of the home ownership market. with housing prices rising and wages not, downpayments are hard to come by and pristine credit levels are really has high as they have been, although they are coming down to some degree but pretty much it's difficult to get that down payment and the credit together. especially if you're just coming on to a job. you're a newly formed household with a new job getting that savings in place is hard. >> very quickly, with this move

toward more renters, what does it mean for the values of homes and for people like us baby boomer who is are looking maybe at some point to sell and downsize? >> it's all good because these houses are going to be rented. this is part of this phenomenon. the investors are transforming the single-family homes and now newly constructed single-family homes for the rental market. >> susan, thank you so much. appreciate it. susan with the university of pennsylvania's warton school of business. still ahead, the most powerful women in business. who is in and who is up and who topped fortune's list this year.

general electric may shed more assets and that is where we begin the focus. ge is considering selling the asset-management arm. the probable buyer will be an established yet unnamed asset manager. now this as ge looks to focus on the industrial products. shares of the blue chip rose slightly to 24.68. 3-m is exploring a spinoff of its software data business. this is as it explores the portfolio, expanding some businesses while shedding others, shares off slightly, 140.78 was the chose there. and lululemon posted earnings that topped estimates. the retailer also saw same-store sales rise but the company did announce a full-year earnings forecast that was slightly below estimates. shares did tumble more than 16% to 53.54.

duke energy agreed to pay nearly $1 million and do environmental work over coal-fired plants. that move settle as 15-year-old case against the company for allegedly violating the federal clean air act. shares fell slightly to 67.74. and late earnings from restoration hardware are better than expected but the outlook for the current quarter disappointed. shares were off slightly in initial after-hours trading before pumping during the regular session. the stock fell to 91.06. positive news for pumo biotech reviewed in a publication. shares soared in initial after-hours trading. the stock was up 3% in the regular session to 96.69. the most powerful women in business. "fortune" out with its list including 27 ceos who together control a trillion dollars worth of stock market value. the top three include ibm and

the number one spot this year, the ceo, mary barra, the ceo of general motors. so why did mary barra, knock jenny out of the top spot. >> she's overall been doing better. mary became ceo of general motors and was faced with a huge crisis. that massive recall of the ignition switches that you guys reported so much on. but she acted swiftly. she responded very quickly, calmly and with authority and while there are bumps at ge compared to gm, the whole theme of this list, tyler and sue, is guts and grips. all of these women leaders are tough. you look at dupont, pepsi, these women had to fight off activist

investor peltz and they are tough. >> new names on the list, also, lots of them and some of them were a lot younger than perhaps traditionally that would make that list. tell us about that. >> 11 knnewbies. a surprise higher at google, she worked at morgan stanley for 30 years. she's not in the ceo or anything but investors really like having her. she's also going to be part of the new alphabet holding company, the ceo of that and when she did her first earnings call, sue, the stock went up so that google's market value went up by $65 billion. a powerful woman. another woman, katherine kennedy, president of lucas films. she was the secretary to steven spielberg and george lucas. she's now running the show and pro producer of the latest star wars

saga. >> angela at apple, why did she come up and ceo of avon. we know about avon and the trouble and including that they may be target of a private equity buy. >> shari mccoy is down from 27 to 49. she was the business model of avon ladies calling. over at apple, angela has, you know, the retail savvy, been there less than a year. she's supposed to be creating new roles for the apple stores. we'll see. she was behind the launch for apple watch. >> susie, it's great to see you. taylor swift made the list, too. >> number 51. >> we never had a 51. she's becoming a powerful force in business and she's only 25. >> which is fantastic. >> my girls will be so happy to hear that. >> susie, great to hear from you.

special correspondent for "fortune" and our contributor. coming up, a kickoff to a new season where football's growth is coming from and it's not on the field. here is what is to watch for tomorrow. the producer price index is out. it's a tracker of inflation at the wholesale level and a read on consumer sentiment. don't be surprised if it slides a little bit after that swoon in the market. the u.s. apparel market is the largest in the world and now there's a new player, one with an established track record overseas that's setting up shop in boston and wants to take on some of america's biggest

retailers. as courtney reagan reports, it comes as the retail industry undergoes rapid change. >> reporter: as if u.s. retail didn't have enough battles to fight, now it has to contend with the luck of the irish. today, dublin, ireland-based retailer opened its first u.s. store with a ribbon-cutting ceremony creating nearly 600 new jobs. here at the 77,000 square-foot four-floor store in boston's iconic building. primark began in 1969. today, there are 292 stores in nine european countries. now, one in the u.s. prymark is owned by the uk publicly traded associated british foods. the retailer's hallmark is its low prices, fashionable design

and quality for accessories and home goods for less than the price of a pizza. $15 jeans, $14 sweaters, $3 towels. according to a sanford bernstein analysis, prices on similar merchandise are 20% below forever 21. 30% below old navy and 40% h & m. >> it's different and it's fresh and new and modern. >> i think the price point is really going to amaze people and i think it's going to be an amazing shopping experience. >> reporter: prymark manufacturers its own merchandise and says its technology and efficient distribution enables the pricing setting up competition for retailers. >> it's going to be difficult for the gap division and old navy division of gap because they sell very similar products at even lower prices. they'll put a lot of prices on the teen retailers, american eagle, abercombie & fitch.

they'll put pressure on the pennies, the kohl's and people like that as well. >> reporter: store locations are key. several of the london locations have among the highest traffic in sales conversion of any retailer she tracks in europe. but there are challenges. most u.s. shoppers don't know what prymark is and this is the first of just eight u.s. store openings by 2016. it will take hundreds to really take u.s. market share and you can't buy online. plus, other successfully uk retailers have failed in the u.s. though many analysts think prymark will be different. for "nightly business report," i'm courtney reagan in boston. and just a few miles outside boston where courtney was, football season returns with tom brady and the new england patriots taking on the pittsburgh steelers. and the kickoff follows a

tumultuous season. here is more on the big business of the nfl and where the game's biggest growth is coming from. >> reporter: despite the issues, the business behind the nfl is still strong. more than 200 million viewers tuned in last season. that's an average of 19 million per game. with so much across television, nfl ratings are bucking the trend and continuing to climb. up 25% over the past decade. this audience is what networks are paying billions for. league revenues are $10 billion per year. big tv deals mean bigger team valuations. the 32 teams have an estimated value of $46 billion, according to "forbes." that's a 23% jump in one year. >> the national football league will continue to thrive and the sheer volume and economics prove

that it is a -- it is a juggernaut. >> reporter: the patriots and tom brady faced negative attention this offseason. brady gear selling at nearly triple the rate since his suspension was lifted while the team numbers are up 53%. ticket prices are continuing to climb, up another 3% this year. that's big relative to an economy seeing very little growth. but the biggest growth is coming from daily fantasy games. companies like draft kings and fan dual are spending hundreds of millions of dollars trying to get new customers. in fact, it's the number one spender on tv advertising in the country, more than household names at&t, ford, geico and warner brothers. >> this business of fantasy will be mentioned in the same breath and at least from an advertising perspective, in the same way

that the beer and the automotive and the fast food quick service, those genres are now being mentioned. >> reporter: if the nfl can manage its way through the offfield issues, there is money to be had. >> the most wonderful time of year. >> who do you like? >> i'm a packer fan. i'm a cheese head from way back. that does it for us. have a great evening, everybody. >> and for me as well. have a great evening. we'll see you back here tomorrow we'll see you back here tomorrow night.

kevin: today on "ask this old house"... i'll travel to kansas city and help one homeowner have the ultimate backyard barbecue. and i'm going to show you how to mount a big, heavy mirror like this to a stone wall. this is the tricky part. one question i get all the time is how to grow grass in shady conditions. it's black, it's round, and it has two parts. what is it? you take this, you walk up the tree, and you go, "bark." [laughter] nah. kevin: that's next on "ask this old house." let's take on these to make room for these. a back yard that blooms? no, a back yard that booms!