. >> one name that really stuck , that was being there barclays. what is going on with barclays? >> it is a bit of a moving feast. we were under the impression that barclays was going to settle. something changed recently. an interesting point of comparison to libor. barclays was the first to settle over libor. bogged down as a result. it is an interesting dynamic. we are not clear why barclays wasn't part of that settlement. we expect barclays will be fined . >> so this is basically just a first wave. we are going to see a second wave of fines. do we have any idea when they may come? >> we are expecting further finds today when the u.s. markets open. perhaps more worrying for the banks, criminal investigations going on by the department of justice. they have taken a deep look into the problems in the foreign exchange market. they go beyond fixes to bad practices in the market. not over for these banks. pains tonks are at point out the dismissing of the chief fx guy. this, but clearly there must be some relationship. >> i think they are being slightly cute. the reason he was susp

of scotland, ubs, barclays has not been mentioned today.hat the fines would total 1.5 billion. if it is the six, it is less than the figure. .ust to put it in perspective agency ins the first 2003 to say it was looking at whether the $5 trillion a day currency market was being manipulated. and then investigations on three allegationsproving that dealers at the world's biggest banks traded ahead of clients and colluded to reach benchmarks used by pension funds, money managers to determine what they pay. fca got the ball rolling. thesehave had conversations on a number of occasions, how much you are provisioning for the foreign exchange manipulation. interesting that they cannot actually find the bank, but they can charge a portion of profit they may have earned. they levied ubs. have fullying they provisioned for these charges. both of those figures have come ma. on cftc and fin >> the overall number is $3.2 billion. add to that the amounts we are hearing from finma, which cannot because fines because of a slightly differently the regulation

barclay's is not included in the fines. it's working with the fca and fcc for a more regulated fine. it has reacted most negatively in the ftse 100 so far today. down the best part of 2% because of the uncertainty. >>> speaking at a press conference in the last half hour, the ceo said it may must change in order to regain trust. >>> meanwhile, the bank of england has fired its fx dealer for serious misconduct un-l related to this problem. he acknowledged traders at the bank were using a practice known as matching. while not illegal, the bank said the activity could lead to improper behavior. taking a look at european pkts right now, trading in negative territory. we got the jobless rate out of the uk as well as seeing a tick up in wage growth. right now, markets reacting negatively to that, trading down by around 0.4%. germany, the underperformer, down by around 1%. italy down 1.5%. now, a good day for stocks across the eurozone, let's take a look at the stoxx 50, down about 0.8%. keep in mind, the index is up about 3% over

what will barclays look like in five years time?cus on things like regulation, technology is much more profound, in my view. the reason for that, the cost of technology is falling exponentially. capacity isties increasing exponentially. it cannot be transformed. -- it can now be transformed. >> an attack on apple malware may have migrated to new family of apple operating systems. international correspondent hans nichols joins us from berlin. what do we know and what do you make of this? without a lot of these products did not have to do with viruses. >> this comes from a report, discovery or a charge, from palo alto networks, a research company on the west coast. they say they have discovered our software called wire lurker that can get onto ios operating system and osx. crucially important how many numbers, if this malware is on computers, they say it has infected 400 applications, apps, in the mean 350,000 users. here's how it works and why this could be a potentially serious deal for apple. it goes from your ubs cable. if you tak

barclays attended that.have this campaign where we're really trying to become the center in our community. this is an obvious fit. actually it was pretty good getting that relation to happen their equipped all of branches with free wi-fi. >> they plemminged on twitter 1,500 branches. we can give the u.k. the most blanket coverage of coding clubs. >> we have a lot of companies that come through and run the accelerators or are are the accelerators. most are software. you're no focusing on software. >> to. we had a major insight. no one is doing hardware or wet ware. >> wet ware? i think i know what you're meaning but i think some don't know. >> it is actually you know, making new stuff with living organisms. for instance we had a team in the first -- that actually created milk proteins. so they are actually building vegan milk which is really cool. >> if you're a vegan. >> then where he have a program in china where teams come from all over the world to go to this program because we set it next to all of the d

it was an internal barclays report about how toxic the culture of greed in barclays was.a landmark report. >> at barclays, come on, the culture of greed on wall street. [laughter] theyy other bank, if looked at themselves honestly, they would have to say the same thing. since then, barclays has really had to take a look at itself. number two, and immigration battle already brewing between president obama and mitch mcconnell. maybe they will find common ground over a drink? enjoy having some kentucky verve and mitch mcconnell -- bourbon mitch mcconnell. mcconnell -- with mitch mcconnell. >> he is not so bad. president obama doesn't seem to hang out with his republican opponents. the wall street guys always bring that up. he doesn't seem to want to talk to republicans. they were really offended by that. >> i wanted to bring you some breaking news we had coming over the bloomberg terminal. llergen has been tried to fend off a takeover attempt from valley and -- valiant. >> we will be back. ♪ >> let's get back to the most important stories before the bell. one,e we get to our

barclays, however, remains in discussion with regulators. criminal investigations are still underway in the u.s. and the u.k.. >> the bank of england says its internal investigations have found no wrongdoing, but in a separate announcement, the bank said its chief foreign-exchange dealing was dismissed on tuesday for misconduct. >> we have been given more read -- more details on revisions to next year's budget. >> $1.4 billion in savings next to her, this in an effort to secure its eu budget. smaller payments on debt and below expected conjugation to the eu budget. but tax on homes were raised by 20% in turn parts of the country , and there will also be taxes on banks and insurance companies to close the loopholes. public spending overruns issued by a most 2 billion euros will be made up by savings and other government departments. a british retailer is taxed 1700 million euros through september. yahoo! is buying the digital advertising services bright growth, an attempt by the internet giant to boost its revenue. it's the first such purchas

they go onto win 45-26 and they are champs of the barclay center classic. that does it for sports. >> burgundy and gold against andrew luck. any chance for us? >> if the redskins can run the ball. the last four teams to beat the colts, 25 carries for the running back and that did it. >> keep andrew luck off the field. >> yeah. that's the goal. >> he can hurt you. >> yeah. >> final look at the first alert seven day. a beautiful day tomorrow. you should get out and enjoy if you have. 58 degrees, a lot of sunshine, but some showers arrive monday night and there is a possibility of a few wet snow flakes tuesday. >> so get out and enjoy it or stay inside and watch the burgundy and gold. >> maybe you can do both. >> take the cell phone neighbor. thanks for watching everybody. we will see you back here tomorrow. good-bye! captions by:caption colorado, llc 800-775-7838 merry christmas! thanks but this gift, it's kind of half-fast. what's wrong? we still have cable internet, so our uploads are half the speed of our downloads. so i'll be half-fast when i share my pho

a monitor will review barclays continuing conduct.man weighed obviously there was allegedly real bad behavior going on in the industry and that is the kind of thing we have got to root out. needs to operate with the trust and confidence of the public. any manipulation of any of the markets flies directly in the face of that. they should be fined. and thed of behavior cultural phase the industry went through leading up to the crisis and after it is just not good enough. i think all the banks would tell you the same thing. we have been speaking with the boss of the second-biggest bank in italy. >> what could be very important for us is if we have an increasing 1% gdp, we can increase our target. >> we will bring you more of that exclusive interview later on in "the pulse." >> up next, the bloomberg exclusive. we will speak to mike lynch about investing in internet startups and a whole bunch of other things. ♪ >> good morning. welcome back. you were watching "the pulse." we are live from london or tech entrepreneurs and investors are gat

barclays is still holding out and saying they are not ready to settle yet.ing a bit after hitting a seven-year low yesterday. credite delaying a sales -- sales tax increase. partiallys closed yesterday for veterans day, you can see the yield coming down. staying with bonds, the view has been a treasuries will fall into place once the fed raises interest rates, but there is one group of investors that is not afraid. that,g me now for look at loose bravo it's -- lisa abramowicz. how big is it? >> dramatic. 30 year treasuries gaining more than 20% this year compared to less than 3%. this is a dramatic outperformance. the yield gap tween them has fallen to the least since 2009, you are really seeing a flattening of the curve, really. are terms edging upwards little bit with longer-term rates coming down. to a flip inspeaks the consensus. perhaps the growth prospects are not really that exciting? we are not convinced. maybe they will not rise. >> in general does this mean that people do not the inflation going anywhere new the tube -- anywhere near the 2% picked

what will barclays look like in five years time? >> we're focused on things like -- the reason for that is the cost of technology is falling exponentially. thismeans the complex is the banking can be transformed. for example, in the u.k., we have over 3 million people using mobile thinking. the used on average 20 times a month. it is creating the ability to connect much better with our and in a at lower cost much more streamlined and affect if way. very much many people at all levels. if you want to get a mortgage, you have to talk to a mortgage advisor. if you want to raise cap will, you talked an investment banker. all the routine activities people do today. in 2007 -- itt wasn't very nice. streamlined. >> i think there are a lot of lessons to be learned. in my view, what went wrong in the crisis was that banks in particular misunderstood the risk there are carrying on their balance sheet and mispriced that risk. look witty the drive that. banks failed. big banks failed. at the corvette is this notion of understanding and manageme

they face duke, fourth ranking in the country at the barclay center. and they are facing the least favorite goal of the planet. i went to the u.c.l.a. he had 32 points putting drexel within one. and lees magic ran out. they fall 72-70. they are 0 and 4. we are six days away from thanksgiving. todd herrimans is giving back. a child battling cancer. they surprised him in a limousine. he has his own foundation to impact changes in our community. small acts of kindness are the most important. >> i am in a position to help them. my board members on the foundation came and helped too. it's that time of the year i wish that people thought about it all year-round not just the holidays. >> todtodd herriman is a good g. >>> take a look at the elementary school. artist kevin reese guided the kids to create a mobile for the library. they are honourin honing their . >>> and helping others. they had a dance party in their p.j.s. over the past three weeks they collected books to be donated to domestic abuse surviving. it held a drive for seven years and collected 2,0

favorite egg meant we have locker room challenge that happens in the players lounge and we have matt barclayave said in but i promise we will have somebody by the time segment get here. we are here with 95 number michael kendricks representing the university of cal.

barclays was the first to be fined in 2012. its share price took a hit that day. senior manager ousted. six months later, ubs was fine, $1.2 billion. its share price didn't budge. it's like we've heard it out there. none of these bank wanted to be the first. they've done well in that. there are question about the investigation. >> okay. quickly, in terms of the criminal investigation ongoing -- >> early stages ongoing. the sfo could look at charges from conspiracy, bribery, corruption. we'll wait and see if anybody goes to jail on this. don't hold your breath. >> thanks very much indeed. thank you. >>> now a former member of an elite u.s. special operations force has come forward to say he fired the shot that killed the osama bin laden. he's condemned by military leaders saying his interview with the tv network could put soldiers on the ground at risk. >> tonight i can report to the american people and to the world a that the united states has conducted an operation that killed osama bin laden, the leader of al qaeda. >> the announcement brought with it a sense of

the argument at barclays is that it still has a bit of that. the fact that china is a demand or of copper. stripping that out, they reckon the decline is still not that great. if you look at oil, you would be worried about the global economic output. if you look at copper less reason to be worried. if we are extrapolating from copper to the economy, do they also extrapolate back from the economy to copper? in other words, if copper is indicating that the economy will not be that negative, does that then mean that copper could be poised for a rebound? >> it could well be. it could be a sector argument. on copper, everything depends on the chinese economy, and as you mentioned earlier, the country is -- government is looking to downgrade its forecast to something close to number 7%, and perhaps we have to watch china for what copper does. >> simon kennedy join us from our u.k. offices. they do so much. we are on the markets again in 30 minutes. "market makers" is next. them customers aren't moving away from expensive hardware, they want software-

liz: barclays recently downgraded it, but you really disagree because barclays says there was limitedide, but you think there's way more to go. >> it's a perfect business to have a motor around it. they go back to their same customers, they cross-sell, sell more data, more analytics, and that's what companies ought to do. they are buying it from other databases. liz: i love your second pick because we cover 3-d printing a lot. oh, they were such darlings for the first couple of years, and suddenly now, oh, a bubble. but you have a pick. why that one? >> stratus is the leader. they have the highest revenue, they've got a few acquisitions that have done really well, and they trade at a high multiple, but they're growing their earnings in the high teens. liz: doesn't bother you that hewlett-packard says -- >> it honestly doesn't bother me when hewlett-packard and ibm get involved in any business. [laughter] liz: oh, that's mean. >> they've got customers in every different -- liz: i want to get to your number one moneymaker. it is qualcomm. why is everybody pits these two against each oth

what they are doggies pushing an addiction on the community. >> reporter: barclay says live hotel casino will be an eye sore but developers david cordish says to way. >> we have had a lot of community support, so there is other ones we have to win over and we will win them over. >> reporter: three losing bidders have 30 days to appeal. "eyewitness news" caught up with mayor michael nutter says thinks a good project for economic development. coming up tonight at 6:00 other local leaders are upset and say it may raise taxes for people in surrounding counties. we will have that angle at 6:00. live from south philadelphia, david spunt, cbs-3 "eyewitness news". >> thanks very much. >>> this casino license vote certainly has a lot of people talking out there let us know what you think, visit facebook.com/cbs philly or shoot us a tweet using the hash tag cbs-3. >>> police charged a woman in the brutal stabbing of a social worker inside of her camden office building. friend say lee a coleman seen here was rick tim in monday's attack. she is hospitalized after a client allegedly stabbed her 21 ti

barclay's expecting italy might not exit recession before the first quarter next year. >> let's move on and give you a reminder of our other headlines. germany and france avoid falling into recession in the third quarter. >>> gearing up for a showdown, the australian prime minister accuses the russian president of being a bully while the uk warns russia of further sanctions. >> the eu says a corporate tax deal between starbucks and the dutch government may have been illegal. >>> rallies to the top of the french market after the telecom giant lifts on better than expected sales in the third quarter. >>> hi, everyone. i'm seema mody. coming up on today's show, as oil prices hit a new multi year low, the uk ambassador tells us what that stake means for petro bass. we hear from a tech start-up hoping to make a connection in emerging markets and paris residents are on the high alert as a tiger remains on the loose. the latest on the hunt, coming up on "worldwide exchange." >> announcer: you're watching "worldwide exchange" wsh bringing you business news from around the globe. >>> good mor

i want to bring in barclay's senior auto auto analyst.rian, you've got an equal weighting and price target $16 on the stock. the stock is moving nicely up 2 and 3/4%. what's your expectation for the new f-150? >> i think we'll see a rebound rally because there were fears that ford would be delayed launching it. we weren't in that gap. we don't think that margins will be where investors hoped. it's not just fuel economy, but fuel economy is part of it. had gas prices been on their way to $7 a gallon, this ford truck might save say $1800 over its gm rival. with gas prices hovering around 2.50, it's more than $600. that's a $1200 difference that we think ford could have gotten in a higher gas price environment and revenue would have gone to the bottom line, but now they're not getting it. we don't think it's going to be a failure. we think that ford will roughly hold onto its market share once it's on the full production, but it's not going to have the profit margins back when it was planning the product. liz: if you had to pick one of the s

banks, barclays with 500 million they set aside. it is less than competitors, but still a major issue. hsbc, about 2/3 of their business is driven from their asian exposure so it will be as much of a burden as some of the other u.k. and european banks are feeling the pinch. >> you're talking about some of the other banks involved in this u.k. probe on foreign exchange. how much of the markets worried about the amount of money they are setting aside to cover it? >> when it comes to the banks, one of the issues we have been asking ourselves is, the more skeletons there are in the closet. there are a number of different issues we have seen. they are all having to fork up funding. the real question is not so much the specific issue on the probe but what else there might be behind this and what further penalties they might suffer. maybe hsbc can distance itself a little bit from the others because so much of its business is driven from the asian markets rather than the u.k. therefore, there has not been the same pressure on them to embar

it was at the barclays center.mmy: oh yeah. >> but i have never, ever seen something like this. there were police everywhere on the streets. there were barricades. there were guys, you know, police officers, do not let go of your children. do not let go of your children. please, do not cross until we tell you, you can cross. like -- >> jimmy: really? hundreds of little girls. >> hundreds, of like -- >> jimmy: dressed like elsa. >> yeah, exactly. >> jimmy: like an army. >> and they all had swords, and like, toys, and cotton candy. >> jimmy: it's like a riot. >> they were all hopped on sugar. >> jimmy: you should film it and make a movie called "frozewater." >> jimmy: you should film it and make a movie called "frozewater." [ laughter ] >> exactly. >> jimmy: released in a couple of years. >> i've never seen the police so terrorized. it's like preschool apocalypse. >> jimmy: yeah, and it just -- >> all of these four year-olds, all of these parents looking like they really need a drink. [ laughter ] and all these polic

they would read something about barclays ordered the libor and get mad at the cashier.s a lot like iran. i'm half irish and ireland has had a terrible experience with the boom that got out of hand that was real economic growth until 20008 years after and then it imploded. you have a mouthing about people being blazingly furiously

barclay and breon all slashed their target on the company, sending shares to $70.57. >>> kate spade, the handbag and clothing maker met forecasts and said the earnings markets have expanded. sales upp eped their guidance, h shares up to $30.96. >>> orbit shares getting slammed after posting walker than expected profits because of higher market costs. the shares were blamed on the stronger dollar pressuring the international business. but the company ceo was still happy with the results. >> we have the strong quarter, we -- we delivered guidance for the full year of 90, justed ebita growth. for the mid-to high single digits. it was a strong quarter and we have a good guidance, we're a business which is generating over a $100 million of free cash flow a year doing great in terms of key initiatives. so i can't really explain the reaction today. we're pleased with the quarter. >> despite the comments shares fell 9% to $7.70. >>> strong advertising sales helped aol increase quarterly sales, and they upped to buy and sell digital ads, investors didn't seem impressed, shares off nearly 40%

citigroup, barclays, deutsche bank were all big in there.t be more exposed to this investigation. --how should investigate his investors pick their banks? do you pick them where the economy is stronger? we talk about fines and that is important. they have to be in an economy with a can lend and continue to make money. one of the elements is in this challenging environment, the bright side has been private banking. they have achieved this sort of financial with the regulators are a better investment at this stage. there is so much unknown still. exposure, terms of there is a stronger ability to withstand the changes. >> thank you so much. program, let'se find out why mercedes is teaming up with tesla to deliver the latest electric car. >> welcome back. it is time for the new energy headlines. they are warning about damage to the environment from fossil fuels. the results are based on the biggest ever study conducted on climate change. there are risks of floods, drought, and the extension of species. angela merkel's government has just publish

barclays, credit suisse and jpmorgan have made similar moves.se market share samsung in russia after it hiked iphone prices to cope with the falling ruble. the moves come after samsung slashed lxe prices by 20%. the cost difference may give android sellers a boost. those are the company news. i'm haslinda amin. japanese carmakers have recalled more vehicles over faulty airbags. toyota is checking more than 100,000 cars. let's go to craig in tokyo. what is behind these new recalls? a substantial portion of those cars being recalled are related to takata airbags. this is traced back to the same defect that honda recall cars for a couple weeks ago. honda found some problematic .ssues at a plant in georgia that plant is now closed. that caused a fatal accident in malaysia this summer, that was the fifth death that we are aware of that has been caused by these ta kata airbags. about57,000 models, 40,000 of those are in japan. ,one are in the u.s. market where is substantial amount of the recalls are occurring related to takata airbags. nissan and suz

now over in brooklyn, barclay center. stanford in white against unlv.end bound, jason randall left open. stanford left 12-0 and they just ran away aid hand. 14 three-pointers. rosco allen. they are going to face duke in tomorrow's coaches versus cancer final. >>> not a good luck. san jose state quarterback blake jrich injured and it was downhill. utah state has a guy named kit myers. he's pretty fast. he's gone! 60 yards for the score and the aggies. it is a beat down for the spartans 41-7. we will tell you about the golden state warriors, six players in double figures as they took utah and ran them out of the building. why am i using my hand motion? because of the machine, it ate the highlights. warriors win it ,,,,,,,,,, television announcer: mattress discounters' $197 mattress sale $197 mattress sale is ending soon. bulldog: mattress discounters' $197 mattress sale! television announcer: right now, you can get a serta mattress, any size, for just $197 each piece when you buy the complete set. bulldog: any size mattress - twin, full, queen, or king -

jay wright villanova wild carts against 14 virginia, at the barclay center in brooklyn. the while cats pulled away in the second half with 14 points from darien hilliard, and 15 from jay von. nova beat bcu77 to 53 to reach the finals of the legend classic, they get number 19, michigan tonight, in the championship game. >> well, still ahead this morning, new rules when it comes to restaurants and calories. >> first though, here's what's coming up tonight on cbs-3. merry christmas! thanks but this gift, it's kind of half-fast. what's wrong? we still have cable internet, so our uploads are half the speed of our downloads. so i'll be half-fast when i share my photos. and i'll do a half-fast job updating my blog. wait, is everything under this tree half-fast? who wants eggnog? don't settle for half fast cable internet. only verizon fios comes with speedmatch. uploads as fast as downloads. get this great price online guaranteed for two full years plus $400 back with a 2-year agreement. call the verizon center for customers with disabilities at 800.974.6006 tty/v >>> it has ban

now over in brooklyn, barclay center. stanford in white against unlv.andall left open. stanford left 12-0 and they just ran away aid hand. 14 three-pointers. rosco allen. they are going to face duke in tomorrow's coaches versus cancer final. >>> not a good luck. san jose state quarterback blake jrich injured and it was downhill. utah state has a guy named kit myers. he's pretty fast. he's gone! 60 yards for the score and the aggies. it is a beat down for the spartans 41-7. we will tell you about the golden state warriors, six players in double figures as they took utah and ran them out of the building. why am i using my hand motion? because of the machine, it ate the highlights. warriors win it 101-88. four straight wins. for the ducks. >> that's the way to do it. >> yep. ,,,,,,,,,, ♪ there it is... this is where i met your grandpa. right under this tree. ♪ (man) some things are worth holding onto. they're hugging the tree. (man) that's why we got a subaru. or was it that tree? (man) introducing the all-new subaru outback. love. it's what makes a subaru

barclays is facing renewed scrutiny from new york regulators.hat is after the state department financial services refused to take art in yesterday's group settlement of forex manipulation announced by authorities. they think the rate rigging settlement was not severe enough. the lack of resolution sent barclays shares down 2% in london. where ciscow york fell over 1.5 percent after hours after it missed its profit and sales estimate as customers reduced spending on network equipment. the network ceo says several large phone companies cut orders dramatically. he warned that a profit forecast for the next quarter was conservative because a further decline in orders being likely. theank of england and federal reserve both in focus. which will raise interest rates first? and next guest think the rates will not move any time soon. neil williams joins us now. expectation for rate hikes in the u.k. pushed back a month to november next year. market telling us the fed will go september of next year. is that about right? you put the fed as the favorite to

. >> reporter: donna barclay is a proud south philadelphia resident and says word that a new you casino is coming to town is upsetting but not surprising. >> what they are doggies pushing an addiction on a community. >> reporter: she's joined by delaware county councilman john mcblaine who says harrah's casino in chester gives his county millions each year. new that there is more competition he says it will be less money for harrah's which he says less money for delaware county. >> incredibly difficulties a appointed that the board didn't provide its reasoning or what facts they discerned from what has happened in atlantic city. >> reporter: to plug financial hole mcblaine says tax increases on time in the future may be the only option. site developers david cordish says the new casino is long overdue and he wants to ease neighbor's concerns. >> we have had a lot of community support. so we have to get some other ones to win over and we will win them over. >> losing bidders have 30 days to appeal this process, as far as a time line is concern, group could not give me a time line to say

playing this game at the barclay center in brooklyn duke has a young team. not looking like it. charge blue devils up 36-26 at the half. now finally how bad are the sixers suns guard bledsoe his former ken can't team could beat the sixers in a five game seri series. really? let's keep this going. how bad are the sixers? at the start of the year papa john's was offering 50% your online order the day after a sixers win. that hasn't happened. now the new promotion is half off your order when they score 90. well that make everybody happy. we have to lower our standards. why doesn't papa john's? (laughter). >> and there you go. >> better ingredients. >> fox 29 weekend tomorrow morning at 8:00. ♪ >> they are the videos and stories that blow up the internet every week. from the inspirational to the hilarious and the just plain stupid. we have all of that and more tonight. >> here we go. hello everybody. i'm mike jerrick. >> i'm alex holly. >> let's get right to our first trend story to the night. >>> this one is a major twitter fail. this month by one of the biggest sports franchises i

the suit charges that barclays, credit suisse, hbc, standard charter and the royal bank of scotland all processed iranian money. that helped pay for the terrorist shootings and roadside bombs in iraq that caused their injuries and deaths. >>> the department of veterans affairs has come under unprecedented scrutiny in the past year from allegations of substandard health care to mismanagement to even cooking the book, but the new guy in charge of the v.a. bob mcdonnell says he has what it takes to clean up the beleaguered agency and the second largest in the federal government. we have more. >> the v.a., we have lots of customers. >> reporter: not too many people are envious of the secretary of the department of veterans affair, bob mcdonald. why? took you one year to get an appointment? >> actually, a little over a year. >> reporter: because the former procter & gamble ceo has to figure out how to tackle issues like this. but he says he viewed the problems as opportunities. >> the v.a. can accomplish more things now than it could ever have accomplished before. >> reporter: he calls this

. >> losses between barclays and wells fargo putting up a bridge loan for that merger. you remember that saban oil and forest oil. both u.s.-based companies. my spin is different than yours. i don't care if they lose money but underscores why zero interest rates aren't a good thing creating liquidity. >> wait a minute. rick -- no! >> pushing money in areas that are crazy. >> just the opposite, rick! >> all right, all right. fair point. what, jack? >> i'm saying it's not the one that is are creating regulation. they're doing what they're doing because of overregulation. >> that didn't happen in d.c. >> rick, i have to tell you something. >> regulators -- >> stick to the traders. >> great segment today, you had a great segment today talking about the dual mandate and happening is you got a federal reserve carrying fiscal and monetary policy on their back. we know that. that's the world we've got right now. we have got a world where d.c. is the -- >> bad policy is better than no policy. >> you have to give the central bank a "a" for what they're doing. >> i give them a "f

playing this game at the barclay center in brooklyn duke has a young team. not looking like it.rge blue devils up 36-26 at the half. now finally how bad are the sixers suns guard bledsoe his former ken can't team could beat the sixers in a five game seri series. really? let's keep this going. how bad are the sixers? at the start of the year papa john's was offering 50% your online order the day after a sixers win. that hasn't happened. now the new promotion is half off your order when they score 90. well that make everybody happy. we have to lower our standards. why doesn't papa john's? (laughter). >> and there you go. >> better ingredients - ( helicopter whirring ) - ( roars ) ( siren wails ) ( pop music playing ) ♪ when you're ready ♪ ready, ready, ready ♪ come and get it ♪ get it, get it ♪ when you're ready, come and get it ♪ ♪ na na na na ♪ na na na na na na na ♪ ♪ when you're ready, come and get it ♪ ♪ na na na na... female announcer: it's a great big world and it can all be yours. here and only here. ♪ come and get it. ♪ >> they are the videos and stories that blow up the

towers ofaming canary wharf, london's inking mecca, the headquarters of barclays. it is privately owned by an international consortium, songbird estates. but for how long? the qatari investment authority and a u.s. property firm have offered takeover bids, $3.5 billion. it would've been one of the biggest deals in the u.k. for years and it was slapped down. that thes david says offering does not reflect the underlying assets. are they holding out for a better offer? london rents are rising and qatar once to add another landmark to its string of trophy assets. if the bid is successful, the tiny energy rich state would own buildings that make up some of the most famous parts of the london skyline. the shopping institution, was bought in 2008 4 $2.4 million. that was the starting gun. to thate gone on to add the chelsea barracks and the olympic village and recently, .sbc's global headquarters that reportedly cost just over $1.7 billion. are already the biggest single shareholders of canary wharf, and with the area a specter to benefit from rail links and property dema

the barclays center, attracting the democratic national committee convention.hat is the update on that? >> you have one article on one verysaying new york is a liberal place, so we will not be here, but on the contrary, people want an effective government. what really works is new york city and that arena. that is why we have a great chance. we are good at traffic, hotels, entertainment. .roviding people and experience people want effective government, they want things to work. we talked about this before, the traffic going into brooklyn, the hotels, will there be enough space? have you been able to address those concerns? nott is very clear, it does take long to get from midtown to berkeley center in the summertime whether it is by subway or by surface transportation. but the of hotel rooms. we have everything here. we can also raise the money necessary. we are a showcase place. the name brooklyn is worldwide famous. the democrats need to have an important tag. they need something that really works. how our government works. new york is our best example. of yo

barclays and jpmorgan have made similar moves. shares aresu trading again.ceeds of the sale will be used to develop other areas of the business. fosun says the deal will require government approval. among hedge funds, no one is larger than man group. [inaudible] we are going to get over to stephen engle. questions about this group which manages about $72 billion. steve, what have we got? saying the perception of hedge funds is starting to change. steve engle caught up with him. perception is that hedge fund is a much riskier assets class. fewally, for the past years, man group, we have been working closely with the regulators including the pboc and china's securities regulator, and also the insurance industry. also, china asset management association has been established and they have already got 4200 registered members. 1000 of them are what we call sunshine funds. basically hedge funds in china. through years of education in the exchanges, the chinese investors and regulators are beginning to understand that hedge fund is about hedging. it is hedging again

. >> the gleaming towers of canary wharf, london's banking mecca, headquarters of hsbc, barclays, andn 1980 eight, privately owned by an international consortium, but for how long question -- but for how long? investment authority have offered a takeover bid. $3.5 billion. it would have been one of the biggest property deals in the u.k. for years, but it was slapped down. proposalchard says the does not reflect the inherent value of the business and its underlying assets. are they holding out for a better offer? london's commercial rents are rising and qatar wants to add another landmark to its string of frothy assets. if it's bid is successful, the tiny, energy-rich state would own buildings that make up some of the most famous parts of london's skyline. a shopping institution bought in 2008 42.8 billion dollars. that was the start -- for $2.8 billion. that was the starting gun. add to that the barracks and the olympic village. globalingly, hsbc's headquarters. that reportedly cost just over $1.7 billion. the qataris are the biggest single shareholders of canary wharf. for the area s

let's get to our exclusive interview with the barclays ceo, antony jenkins.wson spoke with him in hong kong about the bank strategy and what it means. believerms of pay, we in paying performance and we believe in paying competitively. as we able to do that reposition the business. as we make our investment bank more focused, that means we will have less very highly paid people within the organization. that is in line with the strategy. --19,000 job cuts by 2016 how far are you through this process? are you looking to hire? >> absolutely. this strategy is about focusing on the areas where we have growth. we have to reshape and refocus to do that. it is part of this evolutionary process we were discussing. now, we are largely through 14,000 of those 19,000 job cuts. us to invest back in our franchises. and in africa which is an exciting growth opportunity for us. >> you mentioned before that arguably the most destructive .rea, technology what could that look like in five years time? >> we focus on things like regulation. technology is much more profound in my v

they read something about barclays making leiber and get angry at the cashier across the counter was barely earning minimum wage. it strange to sure about irish and i go there a lot. ireland had a terrible experience in the account of events that you write about. it was a real economic growth until about 2008, then it imploded. you have a thing about people being blazingly furiously angry and resigned at the same time. i've never seen anything quite like it. incredibly incontestably furious, philosophically resigned people. >> they also felt guilty but they also felt complicit in it all spent i think they realized that got out of hand. >> the irish have a real talent for suffering last night when present with the opportunity to suffer, they rarely turn away from it spent its true. my mother's family, the largest number of potential pilgrimage sites. that it spent everything about performance in their sports teams. [laughter] >> assuming we have another question the audience consuming the foundation of it, is the trust, the playing field is fair to give you there's been a betrayal of

financial regulators are also looking into u-b-s, deutsche bank, barclays and the royal bank of scotland. sprint announced it's laying off two thousand employees after another quarter of massive losses. the wireless carrier reported a 765-million dollar loss for the second quarter and it lost 272- thousand subscribers in the third quarter. sprint has been undergoing a big turnaround of its network that has driven away a number of customers. the layoffs are expected to cut labor costs by 400- million dollars. verizon and a-t-and- t are quietly tracking cellular customers with technology that privacy advocates say could be illegal. they're using "super-cookies" to track internet activity which helps advertisers target customer according to washington officials say they have taken steps to alert customers and allow them to opt- out. but critics worry the tracking programs may violate customer privacy and could be breaking federal wire-tapping laws. still to come. where there's talk to build a new medical school here in illinois. but first the cubs officially introduce their new manager joe

dish banks include barclays, credit suisse, standard chartered and rbs.illion-dollar divorce settlement and the guy who is running the check is probably walking away happy. oklahoma oil billionaire harold hamm has agreed to pay his wife 972 -- he is worth $16 billion. you got to keep the bulk of his 60% stake in continental resources. a lawyer for his wife said he's considering or the lawyer is considering whether to appeal. an apology for jefferies group from christina kelly who perseveres spun allegations of drug use and provided fodder for the tabloids. the move comes as the couple reached a tentative custody agreement. sage kelly when a leave of absence because of this last month. those are your top headlines. >> on about this for the book-of-the-month? they do not agree with jim grant. mr. grant, in a short, sharp, wonderful new book, suggested the depression of 1921 was short, sharp and market clearing because government got out of the way. three times of economic history flat out disagree. mr. grant joins us now on the depression. you point out at

he was hired away from barclay's. he had to deal with jama to about 25 months, it is up 24.5%. >>> google will use land to base aviation and robotics projects. google will manage the company which includes a private golf course and a hangar build to house navy air ships n 1930s. who knew google was operating in that space? i didn't. very interesting. in frankfurt, trade today up under 0.5%. >>> alibaba is looking for a big boost in singles day. will this be a holiday that will be celebrated internationally in the coming years? that's coming up next. >>> and it's game on in the battle for holiday video game sales. this week, microsoft, ac at thisvision and ubersoft are out. microsoft releases halo, combining remasters verges of halo one through halo four all in one platform. it provides gamers with a sneak peek at halo five. microsoft shares up about 30% year-to-date. ubersoft is trying to make amendments with the assassins creed. the game take place in paris during the revolution. ubersoft is up, as well. and on thurs