he's director of property research at barclays capital here in hong kong.ns the index like this, skyscraper construction is characterized by bursts of intense activity with easy-to-get credit, rising land prices and excessive optimism. by the time those skyscrapers are finished with be this happens, the economy has slipped into recession. with china and india pushing skyward, economists suggest their economies may come crashing back to the grounded. >> it will always lag the cycle because it takes so long to build them out. speaking of that historical perspective, how close is the correlation between the booms and the busts? >> right, andrew. it's pretty convincing when you take a look at the boom and bust cycle around world. first of all let's head back to 1930 first. this is new york's empire state building. it became the world's tallest building when it opened. that was just as the great depression was hitting the united states. that lasted for more than ten years. closer to the present day, the asian financial crisis of 1997 hit just before this buildin

there is the chief executives of barclays, 1.3 5 million pounds. mr.ter could have had a bonus worth 1.6 million pounds at the current share price. diamond has a bonus that could be worth more, and the value of the long-term incentives to be decided soon is a maximum of 4.8 million pounds, compared to a maximum 6.7 5 million pounds for mr. bob diamond. as for mr. hester, would it be easy to replace them with a banker on much lower pay it? >> i think he is doing a hard job, where there are not people running down a hallway is asking to be the head of rbs and to be in the front page every day. >> they could end up by battering taxpayers, who have billions of pounds at risk and the bank. unless, of course, they can find bankers are which public service, not huge pay, is reward enough. bbc news. >> airport has unveiled the best country is better able to defend themselves against cyber crime. israel, finland, and sweden were found to be leading the way in cyber readiness. in contrast, china, brazil, and mexico are among those least able to defend themselves

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being the kind of magic carpet for humanity and i don't see it working there a lot neither does barclays but maybe that's changing because there was a report that architecture majors are the most highest unemployed coming out of school shannon what do you think this played out you mentioned chicago you seem to be convinced i mean chicago has the world's first skyscraper back then obviously it was only ten stories but we all know how chicago's economy turned out not doing so well that's a far show that will have to let you figure out if you think this correlates that's all we have time for i'm lauren lester from everyone in her capital account. have a great night we'll see you tomorrow be chair to check out our web site you tube dot com slash capital account in the meantime to see anything in it. if they shoot something inappropriate for public they can easily be shown to. cast his was ok. i wish he would have never happened but it has. been a war a t.v. camera becomes an unnecessary what does their own safety all foreign nationals including journalists and inspectors should leave. and th

. ♪ meet cathy, who's lived most verywhere, from zanzibar to barclay square.ut patty's only seen the sight, a girl can see from brooklyn heights, what a crazy pair! ♪ cathy: oh my, patty. did you find all your files? patty: finally! who knew it would be this much work when richard and i decided to retire! cathy: well, what are you going to do first? patty: we're heading down to brooklyn heights and start in on that social security paperwork. cathy: why would you do that? patty: what do you mean? cathy: it's so much easier to log onto socialsecurity.gov and file online. patty: what if i need to know how much money i'll be getting? cathy: online. patty: what if our address changes? cathy: online. patty: what if i want medicare too? cathy: online. patty: so, how did you get so darn smart anyway? cathy: online! ♪ when cousins are two of a kind! ♪ director kim: good morning and welcome to the transbay joint powers authority meeting of january 12. >> [roll call] madame chair, you have a quorum. director kim: please call item no. 3. >> communications. i know of none.

barclays and deutsche bank fell more than 4% each. royal bank of scotland, which owns citizens financial, fell by 3.5%. one consequence of the worries about europe is the u.s. bond market rally continues, dropping interest rates down to multi- week lows. the benchmark 10-year government note is now yielding 1.85%, its lowest since mid-december. the buying of u.s. government debt follows a big pop in portuguese government bonds as worries about portugal's finances build. another consequence of european worries? a strong japanese currency. japan has been trying to re- ignite its economy for more than 20 years, and among its most recent challenges has been a very strong currency. a high yen value has made it difficult for japan to increase its exports because of the expense for its foreign customers. the yen has fallen to its low against the u.s. dollar this year, and its lowest since halloween-- the latest time the bank of japan sold yen, hoping to drive down its currency. but since then, buyers have moved back in, driving up the value

stocks down heavyweight barclays is weighing on the index following in european sectors south on worries over the a sovereign debt crisis mining stocks also we've got two stocks also pressuring for the fourth see b.p. shares are down one and a half percent. here in russia the markets are sitting pretty much where they started struggling for direction the r.t.s. and the my socks are down by just more point two point one percent the second was moving the my sex financials are still strong as burbank beginning point six percent energy majors are at this point high oil prices down from losing half a percent and steelmaker kerry continues to slump in the market for us with a seven percent production increase in twenty eleven. currencies now and that's pretty clearly. situation rule is pretty flat though you can say it's down versus the dollar versus the year on the global market the euro is strong you don't know there's. a double dip recession and all but in reality the continent's problems will also drag on to the rest of the world the international monetary fund now thinks global growth wil

impacts of the plane and the benefactress hope his interest will permit you to real or to pull from barclaycompany is already here. in your book a plane similar to seepage it holds a unique meet between planes like. jets like boeing but it is more comfortable and it's up to fifteen percent more efficient and cheaper than its rivals. commercial airline traffic in the gulf area is expected to what group over the next two decades several move them to add crop producers here competitive to secure or the bottom of the russian part of the group the russian lights closing the show today with a new third set made of aerobatic program and their fellow countrymen here believe that this is just the start of russia's current file bishop middle east airspace but can't because of our fear from bahrain air show. bosses finance ministry may limit using touch in the country according to finance minister and the on all thick counts for a quarter of all money in russia that's two and a whole times more than in developed countries will make his want to see commercial spending as well as salary is converted to

germany's dax is slightly in the red we're going to down one point three percent and shares of american barclays are losing over one percent here in russia markets have picked up slightly but are continuing to trade in the red losing over a quarter of a facade while the six is flat. the biggest movers on the lies express is losing marginally the positive start of the day to the day helped by news about its privatization energy majors are losing ground despite strong oil and gas is down around two thirds of a percent. continues to slump the metal giant has increased production by seven percent in two thousand and eleven. currencies lower to the dollar amid weakening global demand for risk. some profit taking ahead of the weekend however the rest because he is a balancing against the zeal of the dollar has dropped against the wall. well that's the update but for this hour we're back in about fifteen minutes or more time at that. moment with. this month's challenge by particles that make up the fabric of the universe find what you're looking for in the deep siberian forest prevent a fire with the h

greece and its private creditors continue to negotiate over the terms of a hope for debt swap deal barclays is losing one point eight percent pushing the foot sea point seven percent down the german dax is shedding over one percent led by a three percent loss for heavyweight xena's which reported a drop in fiscal first quarter profit here in russia markets are trading lower in the afternoon the r.t.s. is losing just under half a percent to my xix the sharing point six percent let's take a look at some individual channels on my six most of the blue chips are lower with banking and energy stocks the main decliners beating me is losing a third of a percent look oil is down one and a half percent companies planning to invest more than one billion dollars in oil rich krebs field in siberia and chemical group is a bucking the trend it's getting point two percent this hour it's reported an almost five percent increase in production for the year two thousand and eleven. the financial woes of european banks are affecting their business abroad one of germany's biggest lenders is leaving the russian m

their toll on the footsie and the dax in europe the footsies down one percent it's way down by bags barclays one of the biggest losers also mining stocks and you shares not really feeling well with b.p. shedding more than one half a percent. here's a close in russia despite the united nations on friday with the audience in my sights last point four percent overall the week was very strong the r.t.s. gaining four point seven percent in the five sessions now on the final sessions burbank among them was among the few again as one of my stocks up point four percent gazprom among other energy shares was down despite high oil prices and still make a m.k. was down for out most of the session of the market unimpressed with a seven percent. increase of production in twenty that. the market was generally pretty flat after quite a strong day yesterday the market in general is up about two and a half percent this week from monday almost as if four and a half percent in the last two weeks things look pretty healthy of the moment underneath the general strengthening the market is some security asian peopl

stocks head lower with heavyweight barclays following the european sector south on worries over the sovereign debt crisis mining stocks are also lower as precious and base metal pressed prices fell shares of rio tinto is losing over one percent here in russia markets are trading flat struggling for direction and the r.t.s. is pointing downwards while the mars six is up just enough not to let's check out the biggest movers on the rise experiment is higher helped by news about its products ization energy majors are losing ground despite strong or price gazprom is down and the mackay continues to slump metal giant has increased production by seven percent in two thousand and eleven. and currencies the ruble is lower to the dollar and made weakening global demand for risk and some profits. taking the head of the weekend the russian currency is also losing ground to the euro this hour and the dollar has dropped against the. sell the business news i'll be back about fifteen minutes with more health. we'll do the. this month by particles that make up the fabric of the universe find what you're looki

there's a lot of institutional weight behind zynga, overweights at morks, overweights at barclays, a big sell side push on this name even if you don't like it, there's a lot of brokers out there trying to sell to clients. >> thanks for that. >> if it is legal, if we get legalized gambling, zynga poker, how big could that be? >> zynga's poker game today, texas hold em poker is the biggest game in the world -- >> if we start getting legalized online gambling -- >> people are playing now and spending real money on a virtual game. just imagine if it was real money -- there's going to be robust competition in this case. lots of people will be involved. this is the biggest company, by far the leader in the space, and they're taking advantage of it. they're not sitting around idly. they're launching more games in 2012 than they ever have before. i think you want to get on board and go for the ride versus miss it and debate which company's market share ends up being the largest in a massively growing category. >> rich, thank you for joining us. >> say one thing to you, brian, you try to scho

barclays says closing above, we could see an upside momentum pushed toward the 1765 level a lot of tradersere watching gold and trading gold in euros today because that broke above a key trend line as well and we will continue to watch that push in gold prices, up about 8 to 10% so far this month. that fomc statement helping gold prices as well concern in europe causing safe haven buying, a lot of loans get nothing the gold market at the beginning of this year. back to you guys. >> all right, thank you, sharon. the final stretch, 35 minutes to go, today's trading session a quick market stat check on the dow industrials now, down 11 points. look at this, major averages erasion the bulk of their losses, despite lingering concern about the debt crisis in europe, another important meeting happening there today. dow 11, had been 141 points at the session low. 10 a.m. this morning as you can see by the intraday chart. coming back, approach the close. look at the winners and losers on the dow. microsoft up 1%. verizon the winners here. bank of america downgraded today, procter & gamble under sell

he worked with visa and barclays bank and paypal.brings into question my appointment of bill newcom, that started as a joke on the radio. a few people called and said that's not a bad idea. he recently separated from his job as managing partner of the san francisco giants. of course he has long experience as a high-tech lawyer. yahoo! could use a good lawyer. they have a lot of issues ahead of them, particularly with the purchase and sale of chinese assets. it looks as if, for sure, scott thompson will be heading it out. >> all right. good news this morning. thank you very much. >>> bottom line is when scott mcgrew talks, people listen. >>> 6:25 right now. still to come on today in the bay, facebook could face a lawsuit from its new neighbor. a live report coming up. >>> the iowa caucuses coming down right to the wire. we'll tell you who came in on top when the tally came in overnight. >> tallying up warmer temperatures by this afternoon. the 70s on the map in some cities. your full forecast in just moments. >> well below 70 on the r

. >> crazy weather julie wright >> i hear you that is why you need to tune into niles barclay. >> i wasee lo green. >> you took me back to the other name. soldja boys. >> right. >> on the roads this morning, very much a busy ride for our friends gin yeah, this happens to be the stall that was -- virginia, this happens to be the stall that was in the the right lane expect delays, 710 to as you work -- 7100 as you work your way eastbound. this tractor trailer, southbound 95, struck the jersey wall they are busy cleaning up a lot of rock debris from the service road and mainline. that is some improvement big traffic jambs out of wood bridge, service road, been effected and that is a slow go as well all this on the southbound side i-95, headed into stafford. we do have significant tie ups right now headed along 295 towards the inbound 11th street bridge. stalled car tieing up the left side of the roadway, average speed 35 miles an hour north of town grid locked traffic leaving 95, direction of 270 average speed down to 15 miles for hour for those travelling inbound on 50. stacked up 410 out

let's bring in antonio garcia pasqual, chief southern european economist at barclay's capital.hank you for joining us today. let's talk about portugal because we saw all last week that portuguese yields seemed very much trapped in the situation out of greece and even today more pressure on yields. what's your read now how portugal yields are priced? >> the problem with portuguese yields is that the market trading is extremely thin so buying or selling moves the markets massively so they're not great indicator actually of where the risks are. the risks are high because, as you know, the program provides through 2013 and it's unclear whether that will be sufficient. >> the markets worry we may see haircuts on debt similar to greece and the whole way through last week in davos we heard from germany saying greece is a unique situation. it's one off. do you think we will see haircuts on portuguese debts? >> this is a very difficult question at this stage. there is an important difference between greece and portugal. in portugal when the program was initiated in june last year. both

jeffrey bernstein senior restaurant analyst at barclays capital.target to 45 from 42. i love, love, love the headline of your report. result grande, but expectation vente. at the same time your outlook for 2012 is even more vente than the street even still. why is that? >> starbucks entering 2012 has tremendous fundamental momentum. the first half of the year is going to be a little slower in terms of growth. as we move through the year, when coffee cost pressures ease and start to look favorable, you should see an acceleration in earnings growth. it comes down to expectations. expectations are pretty high on this one. >> one of the stand-outs in terms of the business line is a consumer product group. granted a smart part of total revenues at this time, about 12%. but the growth of that business for the quarter was astronomical. i'm wondering what you would anticipate? how big of a percentage of the total will that be by the end of the year? are we seeing this initial uptake in k-cups because it's new and so we're seeing this growth and it's going

deals, b of a, merrill lynch advised pep boys on the transaction and i noticed credit suisse and barclay's place to put your money is in high quality stocks. hirsch cohen of clearbridge advisers, thanks for coming in. >> thank you. >> this idea of going into high quality stocks one you've been talking about for a couple of years. you think it's the fed pushing people there? >> two years ago every call i was getting was, every all from people saying i have a cd expiring or treasury bill, where can i get higher returns with no risk. you can't, there is no such place but you look at high quality common stocks where the price-to-earnings ratio were lower, yields were high, dividends were higher up front than they had been in years. you had higher yields on dividend paying stocks than high quality bonds for its first time since the mid 1950s and so on an absolute and relative basis it seems to be the place to go. in terms of quality, it's an interesting thing. i think that bernanke is definitely forcing people out on the risk curve and i think he's trying desperately to reflate the economy. eur