centerpiece of this new neighborhood and will feature widened sidewalks, views of the bay, cafes, and markets. watchut for that. that will be an exciting place for the new part of downtown. in our south of market area, the trans bay terminal will sustain growth in our south of market area, a neighborhood that has grown with the tech companies that haul it home. there are more than 1500 companies in san francisco, as i said earlier, with the city's tech industry located right in that neighborhood. soma is also home to the convention center, which is a centerpiece of our city's tourism. dream force -- as the beginning of the month, september 1, we held the ninth annual dream force in san francisco. it brought over 40,000 visitors to san francisco on just a four- day convention. $42.9 million of economic activity went on in our city as a result. it was such a large event that, yes, we gave them howard treat -- street. no problem with that. we will be doing the same thing with oracle as well. mosconi. for san francisco to keep posting conventions, it is critical that we expand the mosconi center's exist

ashley will have the latest market watch coming up. >>> the gop residents will be in new hampshire today for a debate on foreign policy and defense. a poll holds good news for mitt romney. when asked if the primary was held today, 42% said they would vote for romney. 14% favor ron paul and newt beginning rim and 9% favor jon huntsman. >>> the white house calls a new ad deceitful and confident. i am confident that we can steer ourselves out. we need a rescue plan for the middle class. we need to provide relief for homeowners. if we keep talking about the economy, we're going to lose. >> the white house says the problem is that when the president says if we keep talking about the economy we're going to lose, he's mocking and quoting an aide to the cain campaign. the ad never acknowledged the ad was quote ago campaign adviser. >>> an airman with a handgun had barricaded himself in a building at schreiver air force base. the gunman woukd out last night. there were no injuries reported. >>> police in houston shot a man and wounded him, as well, with a gun near a park where anti-war protests w

for the one percent as bank stocks soar this is a commentary from david callaway on dow jones market watch and he says in one of the more bizarre twists of fate that only markets can bestow the occupy movements burst to fame around the world this month has been accompanied by the biggest october for the dow jones industrial average in its one hundred fifteen year history more than eleven percent as of this writing so notice those words he uses their bizarre twist of fate that only markets can bestow when in fact it was heads of central banks around the world heads of government around the world heads of finance departments around the world who are in fact responsible for the booming stock market has nothing to do with the one percent creating wealth that's why i tell the occupy wall street movement the only way to be taken seriously is to attack stock price if the other side is going to point to a rising stock price and say see we're right you're wrong then the only answer to that is to take down a stock price like coca-cola for example take it down to zero not the one hundred sixty billio

of philosophy at layo university chicago in new york we have howard gold he is a columnist for market watch and founder of the independent agenda and in london we crossed to richard wellings he's deputy editorial director at the institute of economic affairs all right gentlemen this is cross talk that means you can jump in anytime you want and i very much encourage it but first is the capitalism democracy tandem really on the rocks well we're certainly seeing massive amounts of discontent over the. what has been functioning and beginning at least with two thousand made the world and specifically its western part has been undergoing momentous changes in its financial and political system ever since the credit crunch significantly undermined the global financial architecture the entire western paradigm which has for a long time assumed as one of its basic tenets the synergy between democracy and capitalism is now being seriously questioned the global occupy wall street movement is just one example of disillusionment with the promise of representative elections and the free market system which

here's what we're watching for tomorrow: the markets are closed for thanksgiving and we will bring you a special program: "women in leadership: pamela newman." you may not know her name, but in the insurance business, she is one of the most influential women in america. her client list includes donald trump, warner music group and the "new york times." just as the holiday season begin, nokia siemens is cutting 17,000 jobs worldwide. that's nearly a quarter of its workforce. the unprofitable joint venture of nokia and siemens expects the reduction to be completed within two years. the company says the move will save more than $1 billion a year. nokia siemens will focus on mobile broadband and services, and plans to cut units not considered essential. a federal bankruptcy judge rejected the city of harrisburg, pennsylvania's bankruptcy petition. its divided city council voted the judge who dismissed the case did so because the bankruptcy petition filing violated state law. the capital city's debt problem began 10 yeas ago when it decided to upgrade a trash incinerator. they thought it wo

as markets watch what's unfolding in the uncertainty there. europe impacts what happens here in the united states. the administration watching what is happening very closely and at the same time trying to really stay calm in the face of what seems to be a bit of a brewing storm right now. >> positive note that the president can take with him is a nice healthy shining check up. >> that's right. we got theç results of his physical late monday. the headline out of it is that the president is tobacco-free. compare that to the results last year that said the president was engaging in nicotine replacement therapy, suggesting that he was in the process of trying to quit. this president has made no secret of the fact that he struggled to quit smoking and something he talked about on the campaign trail when he got into office. he talked about falling off the wagon and heard the first lady talk about it and her efforts to encourage him to quit smoking. it seems like based on the results of this physical, he has finally done it. by the way, the presiden

i know threal-estate market is watching these lending budget cuts. how are you feeling? " right now, things are a littl quieter because people are waiting to see what will happen. but i think they are optptimistic and are waiting because they still want to s sell, by year's wantnt to buy, and i think theyey understand d what the impacts are going to be on their ability to both buy a and manage a purchasase of a home. >> it is going to affect the rereal-estate market either way. >> eher way. >> and this little headline - -- washington home prices up 5.7% since august. i had to check the dat it came out yterday -- i am sorrrry, thursday. >> amazing. i think that is only good news for those of us in the capital region to know that our market is one of the top markets in the nanation right now. activity here -- people are buying properties, and we are seeing good activity which builds confidence in buyers' willingness to step up. >> are you just in the districtk? >> no. there is a little bit of a difference. there is more activity in washington d.c. still, there is go activi

cnn's richard quest is among the market watch who see it as a pain reliever than a lasting cure. >> richard quest, central banks around the world make clear they're ready to help, markets love it, all around the world, including best day on wall street, up more than 4%. investors are ask are we finally on a sustainable path to growth or is this another stop on the roller coaster? >> oh, absolutely, no hesitati n hesitation, it's a stop on the roller coaster. one day's actions by the central bank of the fed and five others does not a recovery or end of the crisis make. what happened here was the central banks got together and recognized that some banks are having difficulties getting hold of dollars, if they're nonu.s. banks or it might be yen or euro, or whatever. and they have basically made it easier, they've -- they have lubricated the financial sector, if you like, and put money available. but they've done nothing to actually solve the crisis either in the euro zone in terms of the debt and the sovereign debt crisis or the united states with the budget deficit talks. this just treating

we cannot deny and we cannot kid ourselves, the markets are watching closely what happens in the three political situation. and of course, the 2010 budget. we keep hearing mixed news about this. burlesque only insisting that he has the majority, but also reports that say that the writing is on the wall. >> thank you very much. >> thank you. two-thirds of girls in care homes in northern ireland are at risk of sexual exploitation. findings from a new report, published by a british children's charity. the study is believed to be the biggest of its kind ever conducted in northern ireland. >> children are often taken into care because of concerns that they could be at risk of abuse. today's report raises questions about how protected they really are in that system. it suggests that the men involved are specifically targeting children being looked after in residential homes. the report funded by the department of health claims that two-thirds of the girls there are at risk of sexual exploitation. almost half of the abusive relationship lasted at least one year. 60% of the rumors were five ye

what's happening in europe and how easy it is for banks to fund themselves, watching the credit markets, watchingll economy and also they're looking at the countries where these banks do business and reevaluating how they look. so jpmorgan chase, bank of america, citigroup, goldman sachs, morgan stanley, wells fargo, the top six u.s. banks all downgraded by s&p. s&p quick to point out, however, that some of these banks still have among the highest credit ratings in the world. just not as high as they used to be. so that's really important to note here as well. also, looking at europe, in particular, this morning we're seeing, you know, funding, overnight very short-term funding problems for some of these banks. i mean, you're looking back at october 2008 was the last time we saw dollar funding costs this high. so you're seeing strain in the global banking system as one of the reasons at play for this downgrade. and i quickly want to show you bank of america. it's a widely held stock. you might bank there. you probably have it in your 401(k) somewhere because it's in a lot of mutual funds. this st

we asked the editor and chief of market watch, david holloway, why we have seen the break. >> there was some optimism that the super committee would come up with some sort of solution. there was also optimism that europe would come up with a solution and then, that little the way. south there was a leadership crisis going on in europe. people are starting to take a pessimistic outlook at the economy is. >>mark: kelly went on to say that another u.s. debt downgrade is unlikely and that the first downgrade did not have a significant impact on the market. >>darya: let's get an update from george. >>george: so far there are no changes. larkin street is still affected by the closure between mcalester and turks. that is a to block section. it was here at golden gate that it was reported that there was either an underground fire or explosion, a manhole cover popped out. crews are on the scene right now. that is why northbound larkin, an extension of ninth street that carries a fair amount of northbound traffic of the freeway system is being diverted. baba baba that your >> address been and whe

off the table, kyra. >> alison, we're already seeing the effects of this on european markets. >> exactly. we're watchingean markets. they're down anywhere from 3% to 5%. asian markets also down 2%. of course, what you see is the u.s. markets. they're following in those footsteps. the dow down now 244 points. we're seeing the vix and that is the fear index. measures the volatility and the fear of investors. that is popping. that is up 22%. that's a big jump just in the first few seconds of the trade. we're seeing financial shares. they are taking the biggest hit because the biggest worry here is what is the exposure that these banks carry to greece, not just greece, but if greece goes under, it could take all these other countries down with it, too. germany, italy, the list goes on. you see that creeping back into the market. after we all thought this was a done deal, we all rallied talking about the markets, actually. the markets rally last week on the this european debt deal and now it looks like the uncertainty is back on the table, right in the middle. kyra? >> looking at the numbers now, dow industr

market observers in new york call for a close watch over whether japan will continue intervening in the currency markets. >> translator: given the comments of finance minister jun azumi that suggest a firm commitment to stemming the yen's rise, market players are suspecting that interventions will likely continue. >> market watchers say despite japan's move, the dollar does remain under selling pressure against the yen. >>> and moving on, the effects of europe's credit problems are spreading to the united states. a u.s. securities firm is seeking bankruptcy protection due to ballooning losses on european sovereign debt. new york-based mf global holdings filed for chapter 11 protection on monday. the firm's total liabilities amount to just below $40 billion. mf global engaged in a wide range of financial businesses including brokerage services for commodity futures and other derivative products. its assets include large holdings of italian and spanish government bonds. the focus is now on how the firm's bankruptcy will affect the global financial system. >>> and now it is time to get a c