we'll talk about barclays a little bit more.ank slashing its 2011 bonus pool by 25% and it seems that you have tons to say about banker bonuses so keep sending us your e-mails. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. should we be letting him p-l-a-y with our t-a-b-l-e-t? [ mom ] i think it's fine. it's the new element from at&t so it's w-a-t-e-r proof. cool. what else does it d-o? it's fast. it's 4g lte. what's l-t-e spell? nothing. w-h-y? hey, can we stop spell talking now? ok. a-y. [ male announcer ] buy a waterproof pantech element for $249.99 and get a 4g burst sm

i know they are big for barclays. can you give us a status check on what's going on in the euro zone? >> if we step back to the summer of last year, the whole world was worried about europe. and it really dominated investor activity in the second half of 2011. i think three things are significantly different today. the first is the governor of the central bank, governor draghi, truly has made an impact. and i think, you know, if you go back to the beginning of central banking, then the phrase lender of last resort was a phrase intended to be a lender, the central bank of banks. and it's the lender of last resort to the banking industry, to the financial markets for financial stability, not the lender to governments. so i think a lot of the talk six months ago in terms of buying back sovereign debt was not the point. and i think governor draghi got right to the point which is financial stability and the funding markets. but i think the second thing in ireland, in portugal and spain and italy, we have new administration

>> this is barclays, the fourth quarter results. it's the last three months of 2011.ou think that would satisfy, but it doesn't satisfy analysts, because they say it's a drop of 3%, below their expectations. and really, if you want to trace the fault line, you could actually go to the investment banking division, barclays capital. they took a 19% drop. it's not surprisingç if you lo at the actual backdrop against which they were trading. you have the fallout from the yours crisis. but the interesting thing, of course, is mr. dimon's money. we don't know how much he has been awarded. there's lots of speculation about what that figure is. earlier, we spoke to ralph silver, a banking analyst, and he said, look, we've got to bonuses. if we do that, there's a real danger we could see many of these talented individuals leaving the country and going elsewhere. of course, they're the ones who are benefiting in other countries. >> there's always risks involved here. it's the nature of the business. it's a risky business. so, we have to pay these guys to keep them, butç we ha

we've got the likes of barclays. remember, barclays posted their results last week. yes, they came in slightly below expectations, but overall, that bank, that balance sheet not looking too bad. b.n.p. paribas also on the list. they took a massive loss on their greek debt, although they did take money from the central bank, so they have this facility up for grabs in december, and they were using that to prepare their balance sheet. we also have results coming 6:00 again. but you trace these anxieties, they go all the way back to greece, and it's reflected in europe. they opened for business a couple of hours ago. hopefully we should see the screen, and the numbers really speaking for themselves. but it's these dual pressures, but unresolved situation of the greek crisis. >> another unresolved situation is olympus and this massive fraud investigation. that's moved on a peg or two, hasn't it? >> it has, because the former president has been arrested in tokyo, along with several other top executives. it's really about activities which happened at the company many decade

songs that were due to barclays that barclays. you know put into for a bought out a bankruptcy process ok i'm fine with a little bit for me though because i understand the issue every have competition and firms moving their money to the u.k. to the law and you have all of these all of it leveraging great public pretty and that risk. how does this unwind balance where i know the way that a bankruptcy was treated with m.f. global also plays a role in who gets paid you know dissect the that for me break that up for me how does this i'm going to consider ok well you have a couple different issues here so what we have is that makes a blow out perfect leader of the firm a lot more likely so see if you're thirty to one leverage if you have a move of about three point three percent against you or whatever you're you know invest in a you're a margin call ok so you don't have any kind of cushion due to you know the amount of leverage you know the news m.f. global base of their entire firm and a large portion of their customer accounts on on

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so i shorted the barclays, tbf i bought, which is short barclay's 20 year. it's going to get bigger the risk/reward in the bond mark is terrible. >> chicago pmi good. b.k., makes you think that yesterday's disappointing durable goods report was perhaps an outlier. what are you doing today in the market given what the fed chairman has not said. >> yeah, well i mean, i agree with you that yesterday's durable goods was probably an outlier. what the chairman has done is taken away na bernanke put and you're seeing the stock market come in. but if you believe, as steve weiss just pointed out that the u.s. economy is starting to get into the self-sustaining recovery this is a dip to buy in stocks. i kicked it out of the before, gold. you need to wait on gold now. i think you can probably still stay in stocks here, as long as you believe that the economy's on a self-sustaining recovery. >> cortes, your comment. on a day when seeing silver, absolutely hammered just as gold is down, silver down 7% today been. >> i wish i were short both because i don't like silver an

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. >>> a blaze in east baltimore, a vacant home went up on east 24th and barclay streets. a firefighter fell through the floor inside and taken to shock trauma and expected to make a full recovery. >>> due to the holiday weekend, jurors will deliberate this case wednesday. emotions ran high during closing arguments in charlottesville, virginia. the prosecutor broke down as he told jurors about love's final moments before huguely forced his way in to her apartment near the university of virginia and beat her to death. defense attorneys say huguely never planned to kill her and should only be convicted of involuntary manslaughter. >>> please stay with wjz 13 as the trial continues. we will bring you the latest on air and on line at wjz.com. >>> same sex couples are closer to being able to marry in maryland. advocates say the battle is far from over. ron matz is live in the newsroom with the latest on the debate. >> same-sex marriage advocates scored a win in the house of delegates at the beginning of last weekend. friday is house narrowly passed a bill to legalize gay marria

barclay's an audience -- in the audience, and i know there would be issues about why it would be challenging to place a numerical cap, given that we have provided numbers that lay out the value. could you explain again why would be problematic to do this? >> i am a director of the america's cup authority, anteand what i will do is refer back to the board supervisors meeting held on the 14th of december, 2010, which i understand the account was a 11-0 in favor of the documents before the board. i understand there are six of those members on the current board. the foundation stone on which they agreed to bring the america's cup to san francisco was quite simple. in terms of the repair of infrastructure, it was a very simple calculation. investment value would equal negative value. what that means is the amount of money that is a good day and would be paid back, and that was approved, a 11-0. sphene there was no talk about a cab or estimated cost. i will read out the actual words from the 14th of december document put in front of the board. gooif the investment value is me than the legacy value

barclay's an audience -- in the audience, and i know there would be issues about why it would be challenging to place a numerical cap, given that we have provided numbers that lay out the value. could you explain again why would be problematic to do this? >> i am a director of the america's cup authority, anteand what i will do is refer back to the board supervisors meeting held on the 14th of december, 2010, which i understand the account was a 11-0 in favor of the documents before the board. i understand there are six of those members on the current board. the foundati

larry cantor, the head of research at barclays.report has been put out, what, every year since 1956? >> it has, yes. the longest-running publication. >> a long, long, long-term view of the markets right now. >> exactly. this is our opportunity to step back, rather than the usual shelf life of a week or so, and do something that actually should be out there for a couple of years. >> do you like the u.s. equities long term then? >> actually, the research we did, the first piece looked at the equity risk premium. so in other words, equity yields have been way higher than treasury yields. historically wide. and a lot of people have been interpreted this means equities are cheap. what we come out and say, actually the valuation of equities looks pretty fair. now, this is long term, not over the next year or two. >> over the next ten years? >> five years. it's fairly priced. you should get returns in line with the historical returns. so it's a decent investment. the reason the equity risk premiums are so high is bonds are so incredibly e

barclays says look for its target around 1805 to be the next level to be reached. we're looking at the higher price in gold in large part because of what's happened in the currencies, decline in the dollar and rise in the euro over the past month is why we've had the best month for gold since august. but it's not only gold. we perhaps should see some profit taking here, but we're not seeing it yet and we're not seeing it in some of the other metals either. silver up 21% in the last month. copper 12%. turn the picture and look at a different side of the commodities market. that's what's happened to natural gas. once again we're looking at a selloff in natural gas, sue, warmer temperatures, 62 degrees in new york. can you believe it? february 1st. that is a big reason. and of course we're going to get inventory data tomorrow. storage levels may be another reason why a lot of folks sell nat gas in the day ahead. back to you. >> all right. i can't believe it's 62 degrees. let's not curse it. let's talk facebook. potentially the biggest ipo in tech history. the energy c

barclay once said i ain't on this league to play defense.he ball in his hands dribbling towards the basket. when he's trying to get back on defense, that's not his best. he's got to get back on offense and get back on offense in those southern states where romney is going to have a lot of trouble winning delegates. >> did you see any indication of that happening with his speech last night? he didn't call mitt romney and congratulate him. in his speech, he talked about all these grand things he would do following his inauguration. is he playing that offense that you say he needs to play? >> i think that's a good first step. i think newt is at his best. here's one some things we've learned about the three main republican candidates in this race. rick santorum is at business heft attacking romney. romney at his best attacking gingrich, gingrich attacking mediaen at issues. when those three candidates are doing those things, they're at their best. rick santorum was really good in the two debates especially in the second. romney was really good i

citi and barclays cut the price target. moody's cut its outlook as well. quicksilver resources down on an 85% drop and fourth kwartder earnings down about 5.2%. and netflix cut to underperform by raymond james. for now let's head to bob pisani on the floor of the new york stock exchange. he's got many more movers to come, bob. >> and our new platform right here on the floor. important thing about today all the major indices are essentially sitting right near multi-year highs. two events happened throughout the day that i think moved stocks. first look around 10:00. that's when the new home sales numbers -- or excuse me january pending home sales numbers, those are contracts not closings, they came out a little better than expected. then right here we saw the german parliament approving the greek bailout. not unexpected, but perhaps a little less fireworks than people expected from there. not as fiery rhetoric as some people were expecting. some of the people arguing no more aid for greece were a little quieter than some anticipated. bottom line we moved ri

stephen barclay. i am the director of the authority.thank you for giving me the opportunity to speak. and i would just like to round out the discussion that we just had regarding funding for the america's cup organizing committee. the event authority has in writing committed to paying $8 million in cash by the end of june 2012, and that is what we will be doing. supervisor avalos: could you pull the microphone a little closer? >> yes. bringing the event to san francisco, i suppose for us, the america's cup is really characterized by innovation, innovation in the boats, innovation with what we're trying to do with the pictures and trying to make it look like a sports, and bringing it to san francisco and putting it on the bay extends that theme. you have heard people talk about that it will be fantastic, because for the first time, people will be able to stand on their short, be at their own windows in their offices and watch the races, but one thing that i suppose is being missed is that the events will be televised live. the helicopter

over a third of a percent while the dax is down just under one percent the banks are only downturn barclays has reported a three percent fall in profits to five point nine billion pounds last year hit by a slowdown at its investment bank card. here's moscow where the markets are in the negative as well of them isaacs is losing almost two percent while the arch is dropping almost one of the most of the blue chips pointing down. let's have a look at some individual shall also my six continues the slides over previous session following the buyback announcement for news gold is raising early losses following reports about its fatal tie up with. we'll give you more on that later and gas from yeah it's down around half a percent the company has reported a seven percent increase in production for two thousand and eleven. now currencies the euro is lower against the dollar amid uncertainty about the greek debt meanwhile we are all is weighing on the ruble which is losing value against the european on the u.s. currency. crude oil is falling from a three weeks high as concerns about europe's debt cri

banks across europe pushed higher in london lloyds banking group gained one point eight percent and barclays moved up one and a half percent mining stocks are also rebounding up to take most of the trading. markets are trading in the in the black with energy may just lifting the indices on high oil prices is up one point four percent. is just under one percent in the black let's have a look at some individual channels on my sex gold is lower after surging more than fifty percent in previous sessions. investors bet its london listed parent will make a buyout offer for retailer seven part of it is losing as well after saying it will buy back shares at a discount to the market price and russia's largest oil company rostam has slipped into the red despite strong. fierce peter weston from outside who says it's a good time for short term investments as russian stocks are currently trading at a discount a number of sectors. for the first time i think again since two thousand and ten that the. russian looks are actually attractive so that should be fundamental the floor support for russia in my view

to give you an idea of who the banks are, we're talking about the likes of barclay's, the likes of goldman sachs. we're talk ugh about credit suisse, for example. now, it's interesting because the timing is bad, but the concern that moody's is that countries that are very, very vulnerable which needs to borrow money, like italy, for example, the whole business will raise the cost of their borrowing. that's the point at a time when the talks recently were going down. >> we see the italian ten-year sovereign debt yield drift down from 7% back down to the low 5% region which means it's slightly cheaper for italy to borrow money. we refocus on greece in the slight fears of contagion, the domino effect saw that yield creep back up again to 5.7%. >> moody's said they might downgrade. so if the revolution is found in the greek situation, then maybe it could be contagious. we'll have to wait and see. >> we see the friction between argentina and britain on the falkland islands. there's a report groeling a grenade in the whole thing. >> looking at the falkland's future, if you like. a lot of it is d

head of international european economics at barclay's capital. good to see you. what we have seen in the data is a sharp divergence between germany and the rest on pmis, on credit, on employment. and is that going to get worse over the next few months or not? >> probably it is going to get worse, yes, because we have been seeing, of course, substantial tightening in financial conditioning particularly to the banking secotor in southern europe are. to that extent it has been considerably what happened after the three-year l ittro but coule tighter. southern europe has a fiscal consolidation. if you look at the bank of italia, they recommend italy is going to tighten fiscal policy by about 3% gdp. spain probably 4.5% gdp. so we should expect ongoing did i ver generals between north and south europe. >> is the ecb going to respond more to the weakness in this consolidation in italy and spain? >> i think the ecb clearly has to be very concerned about what's happening in southern europe because the problem there is the weaker the economy, the gre greater the challenge

bowing to anti-bank activism barclays says it will limit cash bonuses to employees to 65,000 pounds.arclays prochts slumped in the fourth quarter. >>> guess who made out look a bandit in the bank settlement on foreclosures. warren buffett. his stake in bank of america warrants increased in value more than 150 million once president obama announced the settlement. you may remember buffett invested 5 billion into the bank back in august. finally tonight, hashtag fed valentines has become a viral hit among the wonks who want to display their love for the federal reserve. economist justin wolfers at u penn started it. among some of the tweets, you had me at qe-1. and the folks at npr. here's a racy one from economist mark thomma. "the non-traditional stimulus was way better than i thought it would be." and even the san francisco federal reserve chimed in. "my love is elastic. my commitment too big to fail." i tell you, they're just thought. and larry, i do know that you're probably not one to give the fed a valentine. >> scott, they are so hot. and i just love it when you talk that way t

. >> reporter: james ratcliffe at barclays estimates the carriers don't make up that subsidy they pay to apple until month 16 of a 24-month subscription. still, he thinks it's worth it. the iphone is awfully important to the carriers. more than half the smartphones verizon sold last quarter were iphones. 78% of the smartphones sold through at&t in the fourth quarter were iphones. this helps explain how the companies see wireless revenues increase, but with some concern. >> i think you should be a little concerned about how a significant apportion of that growth is essentially transferred out of the company and how little of the value of smartphones are creating for consumers is actually being captured by the carrier. investors worried about those issues and sprint's losses. sprint shares fell about 2% today and are down 45% in the past year. >> susie: here's what we're watching for tomorrow: we'll see the latest numbers on new jobless benefit claims. more earnings on tap: dunkin brands, linkedin, pepsico and philip morris international. also tomorrow, one woman's journey to homeowners

morgan, goldman sachs, bank of america, barclays capital, and allen & company will also get in on the action, and there could be others added to the roster. but wealth manager jeff sica says not being top dog is a big black eye for those firms, especially goldman. >> the lead is the position you want. the other companies will get fees, they'll add that to revenue, but the prestige of having that is what you strive for. >> reporter: exactly what those fees will total are yet unknown, but it's widely rumored they'll only be about 1% of the gross proceeds. that's far less than other recent internet i.p.o.s, like zynga and groupon. and while 1% of $5 billion is still something, some experts say it's not enough to "friend" morgan stanley's stock. >> it's definitely not a reason to buy it, primarily because investment banking fees, no matter what, are declining. they're declining rapidly. >> reporter: still, if the facebook shares do well in the after market, that could open the door for other i.p.o.s-- good news for all investment banks. suzanne pratt, "nightly business report," new york.

broker further elaine securities so as it is the new york fed chose goldman sachs credit suisse and barclays to be the only bitter is that a close deal for these a.i.g. bonds quote the central bank switched to a less open process after traders blamed the regular more public disposals for damaging prices and twenty eleven max you created the virtual specials technology what does transparency do to prices would make it impossible for goldman to play the role of the pope along with the federal reserve and allocate favored pricing to their bodies as a poor part of a people indulgence and we saw that in the middle ages so no fair competition real competition that's long gone but exactly but like we said contract law is sacrosanct when applied to banks it is a terrorist act when applied to the population competition is bad for prices according to goldman sachs but as it's the only thing that you can live by but you know goldman is duplicitous by definition they call market making their version of market making is heads we win. tails you lose. well speaking of deja vu here some images max from athe

percent while the dax is down over more than half a percent of the banks are leaving europe down barclays has reported three percent fall in profits to five point nine billion pounds last year hit by a slowdown at its investment bank card. here in russia the markets are in the negative territory as well though my search is losing more than half of besides the obvious is down around one percent and most of the blue chips pointing downwards let's have a look at the individual shambles on the lies exposed to our reach he continues the slide of the previous session following the. point is gold is raising only losses following reports about a failed to tie up with pauline metal will give you more on that later on that in the program and gazprom you have is down around. around half a percent the company has reported a seven percent increase in production for two thousand and eleven. the euro is lower against the dollar amid on certainty about the greek debts. all is weighing on the ruble which is losing value against with both the european and u.s. currencies. crude is falling for almost three

>> i think he makes an important point, whether it is barclays bank or 10 livingston people should pay the proper amount of tax and i hope hmrc will look carefully at all these sorts of cases. frankly, for londoners many of them live in labour control areas with high labour taxes will be pretty ankle about what they have seen. they will properly conclude that red ken has been caught red-handed. >> the iss has reported the government's tax and benefits changes with the families with children five times higher than those without children. is this what the prime is a means by the most family-friendly government ever? is it fair or is it just another broken promise of? >> what this government has done is increased tax credits for the least well-paid, to lift people out of tax, to introduce free nursery care for two, three and four year olds and expanded all those family. all those things have made a difference. incidentally, she didn't mention of course she herself is sponsored by the unite union. >> thank you, mr. speaker. >> order, order. order. let's hear him. >> mr. speaker, they are b

banks across europe pushed higher in london lloyds banking group gained one point eight percent barclays moved up one and a half percent mining stocks are also rebounding after sustaining losses only in the trading week. and here in moscow markets are up and midday trading with banking and energy stocks lifting the indices on oil prices the r.t.s. is up over one percent while six is over half a percent and the black. now let's have a look at some individual shammal some of my sex spare bank is gaining over one and a half percent russia's biggest lender expects the corporate loans to expand twenty five percent this year look oil is also high as supported by stronger crude bucking the trend though is food retailer seven continental the company says it will buy back shares with a discount to the market price into weston from tong says it's a good time for short term investments as russian stocks are currently trading at a discount in a number of sectors. for the first time i think again since two thousand and ten that the end russia looks like to actually attractive so this should be fundam