this is night by business report with tyler mathisen and susie gharib brought to you by. >> sailing through the heart of his t historic cities you get close to iconic landmarks torks local life, to cultural treasures. viking river cruises x ploring the world in come floor. stormy september, stocks surged on this first trading day of september but then reversed course as two top republican lawmakers voiced their support for limited strikes on syria. we have the latest from washington plus what it means for your investments. a shot in the mobile arm,

microsoft buys nokia's business but is it enough to give apple and google a run for their money? and banking on seize. want to bank the old fashioned way with a tell. may cost you. we have that and more tonight on "nightly business report" for tuesday, september 3rd. good evening and welcome everyone. i'm susie gharib. great to have you on the show, sue. >> great to be with you susie. i'm sue herrera in for tyler mathisen. he's on vacation. the long holiday weekend is over and back to work on wall street for what promises to be a september to remember. traders are preparing for a possible tapering of stimulus funds, a battle over the debt ceiling and a search for the new chairman and of course the crisis in syria. today, traders were able to put that aside sending stocks higher focussing on corporate

acquisitions and manufacturing and construction spending data. a triple gain in the doe fell after support for president's plans for a military strike against syria sending a chill down the concrete canyons of lower manhattan. on the end the lower averages held on somewhat with the dow up and the nasdaq up 22 and the s&p added six. the debate whether the u.s. should take action with syria over the alleged use of chemical weapons went to congress today. at a senate foreign relations hearing the secretaries of state and defense laid out the reasons to authorize military force. emon javers has more on the efforts of the obama administration to garner enough support from congress. emon, tell us about it. what happened at the hearing, and how much support do you think the president already has for his military plans? >> reporter: the entire day today was a full court political press for military strikes in

syria. the obama beginning with a briefing for lawyers and for leaders rather and a meeting with the president of the united states. at that meeting, the president said he himself has already made up his mind but going to reach out to congress nonetheless, take a listen. >> i made a decision america should take action, but i also believe that we will be much more effective. we will be stronger if we take action together, as one nation. >> now the president got much of what he wanted coming out of that meeting including the speaker of the house john boehner who said he's throwing his support behind the president's position on syria. >> i'm going to support the president's call for action. i believe that my colleagues should support this call for action. we have enemies around the world that need to understand that we're not going to tolerate this type of behavior. >> later in the day, as you say, john kerry, the secretary of

state was testifying before his old committee, the committee he used to be the chair of up on capitol hill. protesters said they didn't want to see war on syria and kerry responded saying he had once been a protester. >> i have feelings similar to that protester. i would say that's why we're important that we're all here, having this debate, talking about these things before the country, and that the congress itself will act representing the american people, and i think we all can respect those with a different point of view. >> so sue, clear momentum today in washington for military strikes but definitely skepticism as secretary kerry and secretary hagel testified before senators up on capitol hill. so questions still unanswered on capitol hill and the time frame is in the air, sue. >> that is the question, what

does happen next emon and what is the timeline? do we have an idea? >> senator men then dez who shares the foreign affairs committee said they could vote as early as tomorrow potentially but that would be on the senate side, unclear whether that could happen just as quickly in the house of representatives. >> emon, you've been talking about the conversation in washington. what about world reaction? about reaction from other heads of state and how might their opinions sway on president obama when they meet with him in russia later this week? as you know, it's the g 20. >> right, the president is leaving tonight for the meeting. he had the meeting in washington with political leaders. here, he'll talk to world la leaders tomorrow and through the rest of the week. they said if this is such a must-do, moral outrage, where is the rest of the world? where are the other supporter f our actions?

secretary kerry put in a tough spot by trying to justify a lock, lack of a broad and diverse coalition here. >> thank you. >> you bet. to corporate news, microsoft is making a big bet on the future of cell phones amid tough competition from apple and google. they are paying $7.2 billion for nokia along with a long list of technology patents. nokia uses the windows operating system in most phones, so it looks like a good fit but microsoft was the biggest decliner in the dow today with many investors feeling it may be too little too late. with more on the deal and what microsoft hopes to gain, here is john forbes. >> reporter: it's been almost a year since microsoft launched windows 8 to gain ground in tablets and maybe give a lift to its struggling business in phone software. it didn't work and over the past three months the come neen has announced a massive reorganization, the coming resignation of steve balmer and

now the planned acquisition of the phone business along with access to key patents. >> we feel that this transaction is very likely to close and we expect the closing to happen during the first quarter of 2014. >> reporter: it's not the priceyest acquisition microsoft made but without question the most disruptive. with nokia's devices and services business, microsoft expands the employee count by 32,000, about a third. that's big on hardware and brings back a microsoft veteran steven elop who is suddenly the front runner to be the ceo. >> we know how to work together through our partnership. we are glad to have steven come to microsoft, back to microsoft. most of the team on devices and services will join us, and that will form the core of a variety of things that we're going to do in devices. >> reporter: he made a controversial call years ago to

bet nokia's future on microsoft. >> to combat samsung and apple feels like a good place. if you take a look at the android market right now and the other players in the android market environment, it's a tough slog. >> reporter: it's sure to be a tough slog anyway. apple is out selling nokia 6-1 but if this deal goes through before spring as microsoft hopes, it will at least have more firepower. i'm jon fortt. investors were talking today about that massive verizon acquisition announced over the weekend. it's paying $130 billion to britain vote a phone to buy the 45% of their wireless joint venture that verizon didn't already own. the news didn't go down well with verp risen investors. shares tumbled nearly 3%. but verizon's ceo told u.s. customers they won't see changes to the cell phone service and reassured wary investors that

the deal will pay off in the long run. >> where can you buy a business that has 100 million loyal customers and 50% margins and no risk and feel to grow the business further? we feel good and will create shareholder value. >> another deal, this of a slightly different kind. cbs and timewarner cable reached an agreement ending a month-long blackout of the shows in new york, los angeles, dallas and other big cities. cbs is being viewed as the big winner in the site gaining a large increase in the fees that it will receive from timewarner cable. cbs rose on the news up nearly 5% on the trading session. timewarner cable up almost 2%. if content providers have the upper hand in the ever changing media world, who are the long-term winners? we'll explain that later in the program. here is a sweet smelling

takeover deal today. jardin that own as host of brands like mr. coffee, crock pot, rolling baseball gloves is buying yankee candle. martin franklin says adding the nation's largest maker of scent l candles with retail stores in the u.s. and canada is a good fit. joining us to talk about the issues impacting market is chief equity strategist at wells fargo. good to see you. >> good to see you. >> you have the situation in syria and the fed tapering or not and the economic data out there. what is top of mind for you when you take the capital? >> syria is the short-term concern. we never really know what is going to happen but it's made perfectly clear at times and this is one of those. until we actually see action one

way or the othe tendless. but i think also beyond that is face. those are the two things onfrom just heard from eamon javers o military action, it could coincide with the federal reserve meeting coming up in a few days. if that happens, how might that impact decision making on tapering or not tapering and just invest -- what investors should be doing? >> i think the way i read it, chairman bernanke will not taper if it has a negative impact on the economy. so there is a whole misch mosh of factors and trying to read his mind is impossible. i can suspect once it's done, once we've seen the strike and hear what the fed will do and i suspect it's nothing taper-like, i can the market can move on. fundamentals are improving and at some point in time they matter again. >> given that, where are you

deploying capital? areas do you like? have you changed the year-end targets? >> no, the year-end target is about where we are now, maybe higher. we set those back in october. it's been a good year. the real big numbers for next year a 2,000 target for 2014 which doesn't require a lot of dramatic input, 4 or 5% growth for the next year or so and put an average market multiple of 16 times for the last 35 years and you're there. i think -- i do think people should be buying stocks. i'd focus on three sectors, technology, the double weight we have, great value. you're seeing act -- acre sixes there, healthcare and the inn dust yell side of the market. >> this is an inflection point with head winds hanging over the market. what should they do, sit tight and wait and see what happens

over the next couple days or jump ahead and make moves? >> depends where they are situated now. i think it sounds strange but the next month or two the market may not do anything great or bad but it will be a great buying opportunity. fundamentals matter and the problems get themselves resolved at some point in time. evaluation is good. the fed is positive. i think people have to go somewhere at some point in time. i think that says take your time, pick your points and buy the stocks with the funds you want to buy. >> on that note, we'll lev ave there. good to see you again. >> thank you. still ahead on the program, the battle for your living room, it's the agreement between cbs and timewarner proves that content is king. which companies are the potential long-term winners. that's coming up but first, a check on how the international markets closed today.

a global economic recovery is not a sure thing. that's the rather gloomy outlook for the organization of economic collaboration and develop the commonly known. they raised forecast for growth in many developed markets but said several banks need to continue the easy money stimulus economies to help weaker emerging markets and keep the global economy on track. the oecd lowered predictions from 1.9% to 1.7% growth. at least the u.s. housing mar market today got good news. home prices in july rose 12% from the same month a year ago but it also said that the red

hot pace of growth in home prices may start to eat. we begin today's market focus with a late-day mover. linked in announced it will over $1 billion worth of shares in a public offering. the proceeds will be used to strengthen the balancing sheet. in the regular session, the stock rose more than 2% to close at $246.13 but fell after hours. h and r block fell after hours. they report add wider than expected loss. the tax service provider says the plans to shut the banking operations will be delayed due to a regulatory holdup. that pressured the stock late in the day after falling to $27.88. shares plunged today after the company's heart failure drug did not meet the main goal in a clinical trial.

amgen said the drug didn't work better than a placebo in treating shortness of breath. cytokinetics fell to $7.65. meanwhile, amgen rose to $211 and change. shares of smith field foods rose on word starboard is trying to line up bidders to buy the company. the world's largest pork producer is agreed to be acquired by a company. the 5.7% stake is working with investors but a counter proposal is not completed. a shareholder vote is scheduled for late they are month. smith field rose to $33 and change. shares of coca-cola today, cutting the reading on the stock to a cell and slashing the price target to $40 on concerns about declining sales and coke's

exposure to semi merging markets. the analyst says coke's current defense of the artificial sweetener could have an adverse effect. shares fell almost 1% to $37.90. the founder of amazon.com is focussing energy on a decidedly old-school technology. the new owner of the washington post newspaper is on the quest for what he calls a golden era at the daily paper, for which he recently paid $250 million. he credits three big ideas that helps amazon grow from 1995 to an internet titan with $61 billion in sales last year. number one, put the customer fie first. number two, invent and three, be patient patient. if you replace the word customer with reader the post will be a success, too.

the deal with cbs and timewarner cable that we told you about, the long blackout and final agreement raised questions about the future of television. with cable, satellite, streaming video services and a lot more, consumers have many choices in choosing how to get the shows they want to watch into their living room. so what does that mean for the content providers, programmers and what you may have to pay for that entertainment? julia boar ston has that story. >> reporter: the head of the nfl season starting this weekend, the fall tv season two weeks after that. cbs had the upper hand all along as the risk of losing premium content would send time warner cable subscribers running to alternative. >> it doesn't take much to push a consumer to say i don't want to miss the football game, and frankly, i would be just as happy or happier with verizon

fios anyway. >> reporter: the companies didn't reveal terms of the deal but appear as clear win for cbs. timewarner cable agreeing to a rate increase and didn't get all the online access it wanted. so why is content king? because sunday night football and cbs' television shows are irreplaceable whereas with distribution, consumers have so many options for live and on demand programming. it's not just cbs. original content is valuable across the board. sure to give disney negotiations with dish before their contract expires at month end. paid tv including direct tv. telecom offerings like verizon fios and intel is working on a streaming offering. for those willing to cut the word aria streams tv to mobile

devices and all the on demand content. >> this is a funny example where more competition is driving prices up instead of down. any programmer that can play one distributor off another. >> reporter: glen brit calling for reform of retransmission rules blaming them for rising cable bills but pushing companies to accept shared responsibility. for "nightly business report" i'm julia boorsten in los angeles. if you want to bank the old fashioned way and use a teller, it may cost you. first, how commodities, treasuries and currencies performed today.

kodak is back. they emerged from chapter 11 bankruptcy today. after saling off the personal photography and documented imaging, it's searching businesses in graphic decision and packaging. ford is recalling 370 cars from the years 2005 through 2011. the reason to fix a steering shaft that could corrode and cause a loss of control of the car. the effected models, ford crown victoria, the mercury grand markey and lincoln town car. no recall yet over nissan but u.s. safety regulators opened an investigation into the path finder and infinity jx 35 after complaints about a failure in some transmission cooler lines that could cause the sudden loss of power in the transmission. if it leads to a former recall. 110,000 vehicles could be effect

effected. buy or lease? this is a tough question for car buyers for years but a survey shows that auto makers are leasing new cars at a record-breaking rate. experian says nearly 28% of all new cars were leased, not bought, in the second quarter of this year. that's the most ever. leasing has become more popular. that's thanks to more aggressive and attractive offerers and buyers looking for the cheapest monthly payment on a car or truck now that the average sticker price soared above $31,000. for people buying a new car, another report shows more and more of them are subprime borrowers a. separate report from experian, says banks made 36% of the new car loans last year to subprime customers, many of whom may not have qualified for a loan a few years ago.

lo the reason, bad loans have fallen and attracting more reliable auto loan customers. with so many borrowers and other bank customers doing business on smart phones, the days of interacting with a teller at your neighborhood bank may be coming to an end unless you're willing to pay for it. a big push by some big banks to charge for the privilege of speaking with a teller. >> reporter: talk ain't cheap. that's news to bank customers in search of a no-fee checking account as deposits go digital and bill pay means point and click, some banks say talking to a real live person comes at a premium. customers with a virtual account could be surprise in december when five years after the account launched a monthly fee of $7 will be tacked on. to avoid it, keep a minimum balance, be a student or do everything online. only a few banks are experimenting with this approach, meaning customers, for now, have a choice.

>> i don't mind doing some things online but sometimes it's better in person to discuss issues or situations. depends on the other banks charging the same, i would stick with mine but if this was the only bank charging, i would switch. >> reporter: editor of the american banker says it's one way banks are searching for revenue in an envier wmt low rates and heavy regulation. >> the question for the banks are what are consumers going to be willing to pay for and think is enough of a premium service or creates enough new value for them they are willing to actually pay money or see fees detected from the monthly statements? that's the expert menation you're seeing now. >> reporter: alex says he would sign up for an e account since he never goes to a branch. >> maybe once or twice ever. >> reporter: ever. >> ipad apps, we can do everything online and at home. >> reporter: for the lockets, an e banking account might fit the

bill. >> easier than going to the bank. if i don't have to talk to someone, whatever. >> reporter: they won't replace traditional accounts, just for a different type of customer. one that feels more comfortable doing everything online. not all banks are seeing enough customers take the bait. at bank of america, only 10% of new customers signed up. the account which carries an $8.95 for customers using the branch was discontinued after three years. >> there say tremendous amount of resistance among consumers to start to pay for something that was previously free. and finally tonight, here is something you won't see too many chief executives do, share the annual bonus with staffers, all of them. that's what the ceo of lonovo is doing. he's going to split the money with 10,000 fellow employees in

china along with the u.s. and other countries. all workers will get about $300, including every hourly manufacturer worker. >> that is a great idea. somehow it hasn't spread. >> we'll see. we'll see. that's "nightly business report" for tonight. i'm susie gharib thanks for wat watch. >> i'm sue herrera, have a lovely evening. see you tomorrow. "nightly business report" is brought to you by. >> sailing through the heart of historic cities on a river, you get close to local life to cultur cultural treasures. viking river cruises, exploring the world in comfort.

hello and welcome to nhk "newsline." it's wednesday, september 4th, i'm catherine kobayashi in tokyo. u.s. president obama is trying to persuade lawmakers, prily