us watchdogs accuse fiat chrysler over its emissions software. boss calls it "absolute nonsense." plus, is it a console, ora hand—held? nintendo takes on sony, microsoft and mobile phones with its new hybrid device. but can it convince gamers to switch? welcome to world business report. i'm aaron heslehurst. we will be talking to a tech guru about that latest nintendo gadget in a moment. but first: we start in the us, where car giant, fiat chrysler, is denying it faces its own "dieselgate" scandal, just a day after volkswagen was fined more than $4 billion for cheating emissions tests. the us regulator, the environmental protection agency, is accusing fiat chrysler of failing to disclose emissions software, at least eight different types, installed in thousands of its diesel vehicles. it says the software allowed the cars to exceed pollution limits, and pump out higher levels of harmful nitrogen dioxide. but the company's boss says it did nothing illegal. so how big could this be? the investigation involves thejeep grand cherokee suv and dodge ra

vonnie: we now have a response from fiat chrysler responding to the epa, saying that fiat chrysler doesot believe this is true. the company believes the emission control systems did meet requirements and has proposed a number of actions to address the epa's concerns. , fiats trading has halted coming out and responding to the the emissionat control systems did meet requirements. that is right after the epa said that looks to be cheating in the diesel engines of fiat chris ault, some of their cars, about 104,000. we will continue to monitor headlines and keep you updated. ♪ mark: live from london, i am mark barton counting you down to the european close, about five minutes away. vonnie: from new york, i am vonnie quinn. , is a big day for banks. mike mayo discussed why he thinks big u.s. banks will be back in black. >> banks for the first time in a decade should transfer from value destruction to value creation. they are in their cost of capital, and if they do as we think they will, bank stocks have increased 50% and have another 50% to increase over the next few years. act black is a g

so i think the chrysler 3 liter probably passes.maybe it's got some field problems but i refuse to believe that anybody at fca deliberately cheated on emotions. >> the idea that marchionne is there. trump ran on less regulation for business and industry. it's completely different. >> i think it's going to be very different and here in this particular situation when we could -- when we could have an investigation, have a finding and a continued investigation, this is in the best interests of share owners like public pension funds. i represent firefighters, teachers, police officers and when we invest in a company, we expect the corporate board to do their due diligence. bob may be right, no harm, no foul, but he might be wrong. at the end of the day maybe it's not volkswagen but it's something that should be explored and should be penalized. the people who rely on these pensions at the very least deserve real answer zblers new york city comptroller, scott stringer, thank you. bob lutz, thank you. as always, bob, see you later. >> com

fiat chrysler can't move as fast as vw most likely.e paris, madrid, mexico city, all say that in the middle of the next decade they will get rid of diesel. stories like this, do you think that accelerates... see what i did there? accelerate the demise of diesel?m does. there are clean air plans in london as well. public trust is waning. figures dipped slightly last year. there is better and cleaner technology coming which could replace diesel to some degree over the next few years. by getting this rolling before the trump administration comes in, does it guarantee it will be seen through? it won't come to a sudden halt. a couple of weeks later and it might have died a death. there is a fair suggestion that could be the case, by getting it through now the wheels are roebling and fiat chrysler will have to receive the software was cheating the admissions system —— the emissions system. for those of us the emissions system. for those of us with diesel cars, we are screwed, right? don't go buying diesel is the thing. samsung chief jay y le

it is a tough time for fiat chrysler. thank you for that.western—built passenger plane in decades. it's happened because of the lifting of western sanctions last year that came with the iran nuclear deal. the iranair fleet is among the oldest in the world — its planes have been kept going by parts being smuggled into the country. iran's making up for lost time — it's buying 100 planes from airbus and 80 from boeing. let us finish by going to hong kong, the hong kong toy fair to be precise. welcome to asia's largest toy show. it's a gaggle of sights, sounds, and of course, toys. some not yet available to the general public. thousands of buyers, most wholesalers are here on the hunt for the next blockbuster. globally the industry was worth almost $190 billion last year and likely expand by 7%. all eyes are on smart toy, still a niche market with $4 billion of sales in 2016, but expected to nearly triple in four yea rs. so this is a great example of what a small toy is. it looks like a traditional play mat for kids, but it has got just traditio

that is an allegation that fiat chrysler sergio marchionne denies. he says his vehicles are in compliance with regulations. >> we have been unnecessarily maligned with a desire or a wish or intent on our part to try and defraud anybody. we haven't. >> fiat chrysler and the epa have been negotiating this emissions issue since late 2015. however, again the epa says fiat chrysler did not disclose the emission software. late today new york attorney eric schneiderman says -- denies that it has installed software that is designed to get around emission laws here in the united states. nonetheless, chrysler executives will be in california next week to mote with executives from the california air resources board phil lebeau, "nightly business report," atlanta. >> wall street stocks fell just an investors start to gear up for earning seasons. the three major indexes dropped sharply early in the day with the dow at one point losing 180 points but those losses were paired by the end of the session. blue chip dow index closed down to 19,891. nasdaq lost 168 and

>> pelley: chrysler's big dodge. the u.s. accuses fiat-chrysler of planting secret software in thousands of vehicles to cheat on clean air laws. also tonight, investigating the investigator. a government watchdog will look into the f.b.i. director's handling of the clinton emails. fear and uncertainty as congress takes the first step to repeal obamacare. >> should i lose my health care, i would literally be plunged back into darkness, literally. >> pelley: surprise at the white house, an unpress departmented honor for the vice president. >> this also gives the internet one last chance to-- ( laughter ) talk about our bromance. >> pelley: and a woman brings order to a three-ring circus. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: first, it was volkswagen. now, fiat-chrysler is accused of fraudulently rigging its decle vehicles to automatically cheat on emissions tests. the e.p.a. says that hidden software on light trucks allows them to dump nitrogen oxides spot air which contribute

fiat-chrysler's c.e.o. denied it tday.e is our transportation correspondent kris van cleave. >> reporter: the cheating allegedly spans three years and includes more than 100,000 vehicles. the environmental protection agency says diesel engine jeep grand cherokees and ram 1500 pickups for model years 2014, '15, and '16, have hidden software that lets them emit illegal levels of greenhouse gases. the e.p.a. notified fiat- chrysler today and said failing to disclose the software amounts ir a clear and "serious ulolation of the clean air act," and could "result in harmful pollution in the air we breathe." >> why these are there, what they do, and why they have to be designed the way they are. >> reporter: david clegen is with the california air resources board, which issued a similar warning to the automaker today. >> they did not disclose them to the regulatory agencies that were certifying the vehicles. and the second is that when these things are activated, they do put out more emissions than the law allows. >> reporter: th

. -- fiat chrysler. priceless iraranian art collection including works by francis bacon and picasso. the wife of the formerr shop p s at the -- shah is at the center of this intrigue. we speak why the exhibition had to be canceled in berlin. ♪ sarah: i am sarah kelly, thank you for joining us. human rights under threat in leading democracies. that is what human rights watch warns in its annual report. the group says that hatred and intolerance were major factors in donald trump's successful run for the white house, and it adds that european populists, using migrants as scapegoats and -- for the slow work. >> a man who does not like immigrants is about to become president. the anti-islam slogans of marine le pen are giving her a good chance of becoming france's president. in hungary, the prime minister has contracted -- constructed border fences to keep refugees out. populists are being loudly applauded, and human rights organizations are sounding the alarm. >> human rights exists to protect people from g

chrysler more from me but first hearing is shara njit.from me but first hearing is sharanjit. chrysler fiat pours $1 billion into us factories and moved some production from mexico. and a decade since this little gadget changed the way we communicate, what is in store for the next ten years of the smartphone? hello, welcome to asia business report. another car maker makes a huge investment in the united states. fiat chrysler is investing $1 billion in america, including modifying a plant in michigan which will make pickup trucks manufactured in mexico. the move comes as the president—elect donald trump pressures the auto industry to hire workers and produce vehicles north of the border. last week ford announced it was cancelling plans for a factory in mexico and will build the cars in the us. all of this comes as one of the us. all of this comes as one of the world's biggest auto shows‘ where the world‘s biggest auto shows‘ where car giant showcase their latest products. earlier i spoke with a spokesperson for the auto industry and his re

fiat chrysler closed more than 10% lower in u.s. trading after it was accused of cheating on diesel emissions. the u.s. environmental protection agency says software was put in certain vehicles, allowing them to exceed pollution limits, but stopped short of calling it a defeat device. the company contests the allegations. new questions have been raised about whether fbi director james comey will be able to keep his job. this after the justice department's internal watchdog opened an investigation into his handling of hillary clinton's use of a private email server. the department of justice inspector general will examine whether the fbi failed to follow appropriate procedures and improperly released information about the clinton probe. emoji, founder of sky bridge capital, has been named assistant to president donald trump according to people familiar with the decision. dena powell, head of philanthropic intestine at goldman sachs is to join the administration as an assistant to the president and senior counselor for economic initia

what about this, the us turns fire on fiat chrysler.he programme who said that the industry was waiting for something like this, it couldn'tjust have been volkswagen. the vw scandal happened quite a while ago and the environment or protection agency over there seems to want to flex some muscle at the fag end of the 0bama regime now. they seem to be lining this up with 0bama being tough but it's too late. that president is already out the door and you got a new one coming in. i'm not quite sure what the real target of this is. it sounds like the chrysler could have been doing something wrong here and also these are massive brands, the cherokee and the dodge are huge. huge house vehicle names in the us. there is a concern the new president isn't so focused on environmental issues. is that one of the reasons why this agency is trying to get these things out now so as to show there's some real... some said they were going after volkswagen because it was a foreign brand and they wouldn't do the same with an american car company. and also the

my experience with chrysler, do you move the chrysler 300, the mine knee v mini van, the dodge productsnd back to the u.s.? talking about multi-billion dollars of refaciletizing abandoned factories we had to go through during the financial meltdown in '07, '08 and '09. that'll be one decision. the second decision on some of the imports from mexico, like the fiat 500, you know, they may elect not to import it. doesn't have that high of a demand. mary talked about maybe not importing the hatchback on the cruz. that's that decision. i think the other thing maybe with the trump administration, there will be an easing on some of the cafe standards that have cost millions of dollars in that regard, relative to technology. certainly, you know, you mention the need for continual investment in safety, quality, reliability for our consumers. so they'll have a full plate of decisions to make. but i tell ya, i am really encouraged with the industry and the comments i just heard coming out of the trump meeting and the opportunity to restore manufacturing in the u.s. and really drive this gdp. i'm re

breaking news on fiat chrysler.t allowed illegal emissions. an epa official saying this is a clear and serious violation of the u.s. clean air act. they claim the automaker installed software and recent diesel powered jeep grand cher keys and dodge ram trucks. it affects about 104,000 of those vehicles and the stock tumbling 16% on that news. stuart: we have breaking news on the mike pompeo hearing. the cia director. this is part of his testimony. ashley: he says as ci sarks director he will drop his opposition to the iran nuclear deal he expressed as a lawmaker. he says the cia must be rigorously fair and objective in assessing that deal. stuart: he will drop his opposition. ashley: he will take off his lawmaker hat and says as director of the cia i have to be rigorous looking at it objectively. stuart: not look at it politically. that is new. mike pompeii over right there. next case, president obama over the last 8 years attacked fox news many, many times. watch this. >> if you talk to somebody who said i was watc

fiat chrysler is spending a lot money on jeep.one wants to come out and make an announcement that they are spending money in the states. ♪ breaking news general motors, up 5% thanks to forecasts raised in 2017. a buyback of $5 billion worth of shares. >> analysts have been talking about global auto sales tapering off for sinking in the u.s. market next year, at west flat, and gm thinks the market will be much better and are saying their retail sales and revenue will be better. they are saying they will be grow profit as some economies are sputtering along a little bit. volkswagen has agreed to plead guilty in the united states to the admissions cheating scandal, paying $4.3 billion in penalties. prosecutors announced charges against five individuals in germany. how does the settlement leave volkswagen? >> it clears the deck in terms of u.s. regulatory disputes over this diesel emissions cheating scandal. the focus in that regard now will shift to the individuals that have been charged. futures of volkswagen's in the states, they w

that's fiat chrysler. we'll give you a check on shares because they have been rebounding in today's session. you can see they're now higher. this after a major drop, though they are leading the way to the top of the stoxx 600 after shares plummeted thursday after the u.s. environmental protection agency accused the automaker of violations against the clean air act. this rattled investors, but we did get a strong defense coming from fiat chrysler. the ceo, sergio marchionne saying we are not criminals and drawing the line under any comparisons to volkswagen. he wanted to make it clear this was not another case of the volkswagen scandal saying we do not have a defeat device. >> marchionne was so angry. shares dropped significantly stateside, we saw that. the u.s. environmental protection agency accusing the company of using software to allow this excess diesel emissi emissions, as we heard with vw as well. the listed shares stateside fell almost 20%, right? >> that's right. then recovered a bit by the end of

chrysler has nearly 13,000 workers in the u.s. all of those are significantly fewer than the number of workers they have here in the united states. >>> wild card weekend in the nfl. four games. aaron rodgers and the packers now crushed the giants. there's a hail mary. oh, oh, he had a hail mary at the end of the first half. we robbed you. the other game was a blowout. steelers crushed the dolphins. pittsburgh plays kansas city next week. seahawks play the follow calcon. the raiders will play the new england patriots next saturday night. >>> a terror attack against the israeli defense forces. now officials considering new tactics for dealing with suspected terrorists. we are live in jerusalem next. you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance compa

unfortunately for fiat chrysler, they are spending a lot of time trying to defend themselves againstut also defend themselves —— but also defend themselves against any allegations similarto themselves against any allegations similar to volkswagen. donald trump is seen to be fairly lenient towards the whole issue of emissions. absolutely, and the timing is really, it is interesting. it is from both sides, we are seeing that the justice department and the from both sides, we are seeing that thejustice department and the epa are thejustice department and the epa a re really thejustice department and the epa are really trying to go after companies in the waning days of the 0bama administration but in a couple of days there is going to be a new head of the environmental protection agency and that is something that the head of chrysler mentioned when speaking with reporters, that he will defend his company against these allegations and he is also hopeful that something better will happen under a trump administration because there is going to be changing of god. fiat are in the good books,

us watchdogs accuse fiat chrysler over its emissions software. boss calls it "absolute nonsense." plus, is it a console, ora hand—held? nintendo takes on sony and microsoft with its new hybrid device. but can it convince gamers... ..to switch? donald trump seems to be at odds with some of his key cabinet nominees on some of the vital questions facing the new administration. his choice for new head of the cia, mike pompeo, has strongly endorsed the work of the us intelligence community, hours after it was criticised by the president—elect. and generaljames mattis, nominated for defence secretary, accused russia of trying to break up nato and of being a threat to europe. that's in contrast to mr trump's wish for closer ties with president putin. our correspondent, laura bicker, reports from washington. the nation's capital awaits a new commander—in—chief. but as the gates go commander—in—chief. but as the gates 9° up commander—in—chief. but as the gates go upfor commander—in—chief. but as the gates go up for expectant crowds, donald trump is still

fee i can't chrysler and epa are negotiating the issue for several months.the models impacted here, 104,000, put that in perspective, talking about 1.5% of the sales between 2014-2016, shares of fiat chrysler have come back a little bit. guys, i've interviewed sergio numerous times since becoming ceo of the company coming out of bankruptcy, never heard him this mad. this is not just irritated with the epa and, oh, by the way, he understands that the doj's also investigating the company. he's furious. he says let's have a conversation, and if you don't have to have it, epa, we'll have it with the trump team, the people from the trump team running the environmental agency. guys, back to you. >> phil, do not move. breaking news on your beat we'll get from sue herrera, another story not going away. sue? >> that concerns takata. they will plead guilty to criminal wrong doing as soon as friday. the criminal case stems from misleading air bag testing reports. according to the sources quoted by dow jones, takata is expected to pay a criminal penalty, restitution to

. >> the biggest decline ever in fiat chrysler shares. dieselto a cheating and trying to avoid the clean air act violations. >> we compare this with the volkswagen story. these allegations are covering around 4000 vehicles. >> it is smaller, but that does not mean it could not do a lot of damage if fiat chrysler ends up being guilty. they are saying the devices they have in their did not achieve. the will continue to fight this and work with the epa. there are some specific things that need to be looked at before you can determine what kind of financial impact it will have on fiat chrysler. what the epa is saying is that there are a devices on these --icles -- software devices that the company did not disclose. able offense, but if they did not cheat then it would be much smaller in terms of fines. it would have to be known whether or not fiat chrysler cheated. we just do not know right now. defending itself and saying there is no wrongdoing here. ♪ >> three of the major banks are out with orderly results this morning. bank of america mis

said to have alleged diesel cheating by fiat chrysler.t's notified them of clear air act violations. shares fell as much as 16%, barely above that now. >> compare this with the volkswagen story. i see that these allegations are covering around 104,000 vehicles. >> it's much smaller but that doesn't mean it couldn't do a lot of damage if fiat chrysler ends up being guilty on this one. they are saying that the devices they have in there did not cheat. they are going to fight this. they are going to continue to work with the epa. there are some very specific things that need to be known before you can really look at how big of a financial impact this would have on fiat chrysler. the epa is not seeing these defeat device that is basically cheated emissions test. what they are saying is there were eight devices on these vehicles, their software devices that the company didn't disclose. that is a fineable offense, not disclosing those devices but if they didn't cheat, then they wouldn't necessarily have to be replaced in people's vehicles, the

fiat-chrysler's c.e.o. denied it today.ere's our transportation correspondent kris van cleave. >> reporter: the cheating allegedly spans three years and includes more than 100,000 vehicles. the environmental protection agency says diesel engine jeep grand cherokee and ram 1500 pickups for model years 2014, '15, and '16, have hidden software that lets them emit illegal levels of greenhouse gases. chrysler today and said failing to disclose the software amounts to a clear and "serious violation of the clean air act," and could "result in harmful pollution in the air we breathe." >> why these are there, what they do, and why they have to be designed the way they are. >> reporter: david clegen is with the california air resources board, which issued a similar warning to the automaker today. >> they did not disclose them to the regulatory agencies that were certifying the vehicles. and the second is, when these things are activated, they do put out more emissions than the law allows. >> reporter: the diesel vehicles are still sa

fiat chrysler says it does plan to invest a billion dollars in the u.s.to make three new jeep's right here. the move would return factors in michigan and ohio and at 3000 u.s. jobs. last week on twitter a big border attacks on general motors for importing hiv crews hatchback from the go to the u.s. gm ceo mary barr and economic adviser to the president says there's no plan to move production assets far too too early to talk about possible terrorists. >> it's way too early to speculate. there's a lot of work to do when we look at some of the things that president-elect has said. i very much look forward to being part of the solution that allows the country to be strengthened with business and manufacturing capability. >> she was tapped to serve as part of the economic policy group for the first meeting expected next month at the white house. conduct on the global market action. earnings season kicks off. shanghai composite index up half of 1%. stocks are closed for holiday. hong kong hang seng down just fractionally. >> the big story in europe as the u.k.

chrysler has nearly 13,000 in mexi mexico. all of those are fewer than the company employs here in the united states. >>> we did the meryl streep speech at the golden globes. they did actually hand out awards for movies. "la la land" received seven for best comedy. ryan gosling and emma stone won. "moonlight" won and casey affleck won for "manchester by the sea." isabelle huppert won for "elle." and "the people versus o.j. simpson." and "the crown" picked up two golden globes. >>> aaron rodgers carried the green bay packers on his back, on his arm, on his leg. i cannot get enough of this. it's not a bad way to end a half right there. a blowout win over the giants. c can he do the same next week? coy wire with the bleacher report next. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see me to know that... ...i won't stop until i find what works. discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. proven to help the majority of people find clear or alm

we turn our focus to fiat chrysler.he ceo sergio marchionne is entering into the final phase of his career there. with a look at whether it is free fiat chrysler so, how is hema going to do this? investors think he will. >> yes, yes, exactly. sergio marchionne starts his last two years at the head of fiat chrysler and his mission is to reach eliminating debt targets, targets that have been fantasyland or not realistic by analysts for several months. thatood news for them is executives expressed higher confidence in reaching those targets in investor meetings the after theonths strategy in the u.s. was changed. they ditched the production of sedans, which are not very profitable for much more profitable jeeps, suvs, and ram trucks. the end of this month, when they their 2016 results, he may show on how they plan to reach those targets. it looks like investors are starting to believe it. vonnie: well, they are. if you look at my chart on the bloomberg and you see the relevant performance of the stock compared with volkswa

fiat chrysler says it will invest $1 billion in the united states as the detroit motor show gets under. iron ore prices are set to plunge — that's the message from the australian government, sending mining stocks down. welcome to world business report. i'm sally bundock. also in the programme: the boss of rolls royce is here to tell us why luxury cars still have the edge. that is his view. we will talk to him ina that is his view. we will talk to him in a moment. but first: over the next few days, the world's car makers will be taking the wraps off their latest products at the detroit motor show. the car seems more popular than ever — an estimated 75 million were sold last year, but 2017 is already beginning to look like a big year of change for the industry. not least because more of them are looking to invest in the united states. in the last few hours, fiat chrysler has said it will put $1 billion into two us factories, which will create 2000 newjobs. the incoming president donald trump has been piling pressure on carmakers to make the vehicles they sell in the us in the us. meanwhi

fiat chrysler saying they will retool their michigan and ohio plants.lly into the new year, a lot of this had to do with strong sales for all of the major automakers, but clearly this move puts them in good stead with an incoming president known to favor made in america. well, su, let's talk about the timing, a lot of carmakers making similar announcements, and mixed reception out of donald trump. company, which was in the cross hairs of president-elect donald trump during the campaign, announced just last week that they are canceling over a $1 billion production in mexico, and instead invest $700 million in a michigan plant. again, that is a big made in america move, although the ceo of ford made it clear this was not due to pressure from donald trump, but shifting consumer trends. the very same week, president-elect trump threaten g.m. with import taxes if they did not move the production of their chevy cruz out of mexico and back to the u.s., so that is the latest there. it seems the automakers are getting the message that if you want to be in favor

investigators say fiat chrysler added the software on about 100,000 diesel cars and trucks. officials are calling it a clear and serious violation of the clean air act. volkswagen is paying more than $4 billion to settle its similar charges. >>> new at 5:00 a report out today shedding some new light on the effects of marijuana both good and bad. the national academy of sciences, engineering and medicine finds that smoking pot does not increase your risk of cancer. and in cancer patients, researchers found that cannabis can actually relieve some symptoms and help with chemotherapy. >> anything marijuana really helps ease that process of being able to intake food and digest and not have pain. >> chronic pain or pass specialistty associated with multiple sclerosis or nausea and vomiting that accompanies some types of chemotherapy. >> bad news, too. the report also finds no evidence that marijuana helps people with other ailments like epilepsy or ptsd. it also shows that smoking pot can lead to long-term breathing problems and mental health problems like depression. >>> also on

we know that fiat chrysler is spending a lot of money on jeep in particular.out and make the announcement that they are spending money in the states. >> breaking news from general motors -- the forecast has been raised to $6.50 a share. a buy of $5 billion worth of shares. >> analysts have been talking about global auto sales tapering off or sinking in the u.s. market next year, being at best, flat. gm is not saying that the market will be flatter, but they are saying the revenue is going to be better. they are saying that they will be able to grow profit even as the global auto market and some global economies are sputtering along a little bit. >> volkswagen has agreed to plead guilty to the missions -- plead guilty to the emissions cheating scandal. they will pay $4.3 billion in penalties. prosecutors also announced charges against five individuals in germany. >> this basically clears the u.s.for them in terms of military disputes over this emissions cheating scandal. the focus in that regard will shift to the individuals that of an charged. in terms of volk

shares in fiat chrysler halted in the lawn.using the carmaker of using software that allowed access diesel emissions in about 100,000 vehicles. reportinguters and ap . we are working to confirm those reports. adr is down 13%. a big reaction after we got up yesterday. volkswagen and the $4.3 billion settlement. several top executives indicted in that case. this is bloomberg. vonnie: you're watching bloomberg. i'm vonnie quinn. mark: i mark barton. the chief investment are -- office of the largest you investment -- u.s. investment und -- plan to ship to internal managers. vonnie: british retailer martin spencer may be starting to see a turnaround. mark: in today's quick take the senate takes its first step towards repealing the affordable care act. what happened to the individual mandate if they undo obamacare? vonnie: the largest u.s. pension planscalpers, developing to ship as much as $30 billion from external to internal managers looking to reduce fees. bloomberg tv spoke with their chief investment officer. >> you can see tha

this is matt with chrysler.tell us the newest and greatest things coming out with the pacifica. >> thanks for having won vehicle of the year. it's starting to ship in the next few weeks. it's the first minivan hybrid electric vehicle. biggest thing is not first minivan, first serve passenger hybrid, carrying seven people and all their luggage with ease. >> do you have to put it on the roof? >> no, all inside. >> stow and go, use as many seats as you want or how does that work inside? >> stow and go is great for gas mileage, all seats fold in the floor, you can carrying 64 sheets of plywood. we use that area for the batteries for the hybrid vehicle, which is terrific. now we're like any other van. second row removable, third folds in, but you have a battery under the floor. qualify for full $7500 tax red. all electric range. go every day on your tours and never use any gas. >> recharging it. obviously at home, there's a plug in you have there. charging stations along the road available or fast-food restaurants? c

that is what's going on with fiat chrysler and the epa.s, back to you. >> our phil lebeau in atlanta today doing double duty on delta air lines and autos. phil, thank. >>> we turn to peter thiel, the venture capitalist and trump transition team member, speaking out in a rare one on one with "the new york times" maureen dowd, commenting on the president-elect and the high-profile tech summit at trump tower -- "i think early on, everybody was worried that they would be the only person to show up. at the end, everybody was worried they would be the only person not to show up. i think the bigger tech companies all wanted to get a little bit off the ledge that they had gotten on." as for other public companies like apple, he says the early age of innovation is over, "we know what a smartphone looks like and does. it's not the fault of tim cook, but it's not an area where there will be any more innovation." henry, we know thiel likes to light it up, he's contrarian. is he right? >> i will say there will be some more innovation, but i think this

chrysler unveils the vehicle of the future. >>> great to be back with you. coming up, the abrupt about-face on this first day of congress. the deadly twisters, at least five dead. airport chaos, thousands trapped in lines. and a dresser falling on a toddler. his 2-year-old twin lifting it off him. you'll hear from his mother right after abc 7 news. >>> if you have an overdue book from a san francisco library, today is your day. the deal it's offering to get those books >>> the clouds are back on saturn's moon titan after disappearing in 2010. since then nasa's spacecraft happen watching for their return and today the space agency released these images showing wispy methane clouds floating over the moon's hydro carbon lakes. scientists had expected a few more. now they're looking at how the clouds are connected to titan's version of summer. >>> chrysler unveiled a concept car at the consumer electronics show today that it says will be the dream vehicle for any millennial. this is the all-electric portal. kri chrysler said it was developed after two decades of

this is business live from bbc news with jamie robertson fiat chrysler says it will invest a billion dollars in the united states as the detroit motor show gets underway. live from london, that's our top story on monday 9th, january. the detroit motor show is underway, and the world's car—makers are looking to try to steer the way ahead, amid big changes for the industry. plus, we look back at the birth of a revolutionary product — it's ten years since the launch of the iphone. the markets. the markets in the uk are starting up and the markets in asia depressed, not a huge amount of movement. and we'll be getting the inside track on how crowd—funding is changing the way that solar energy projects are funded in developing countries. it is ten years on from the launch of the iphone, we want to know what you think will be the next game—changer? let us know — just use the hashtag #bbcbizlive. welcome to the programme. over the next few days, the world's car makers will be taking the wraps off their latest products at the detroit motor show. the car seems more popular than ever — an estim

>> the trump of fact -- fiat chrysler is the latest to come under pressure from the president-elect. >> china's currency reserves slumped as the yen site the best slide into decades. that china backed asian infrastructure bank is open to u.s. membership. we will hear exclusively from the president. >> to samsung executives face prosecution under the influence scandal that brought down the president. bloomberg's daybreak asia where it is just asked 6 a.m.. yvonne: what a week. i missed the price action we saw on dollar-remember he. nimby.ar m feels like another spark on this dollar rally. rise we did see markets for the entire week and we came within a hair's breadth of that psychological 20,000 mark. if we don't get there sometime during the course of this week, we have u.s. retail numbers as well as bank earnings coming out by friday. yvonne: things are set to open here with new zealand starting things off already and stocks pretty positive. the kiwi dollar at 69. we are expecting some building approvals data. putting much unchanged at the open. the us at 72.98. aussie dollar at 72

fiat chrysler, especially, 4% higher.eneral motors is at 36, that's interesting that goldman sachs would say, oh, they're going to go to 31. >> they were at 29. stuart: i got it, i got it. ford is at $12 a share. i'm not seeing that much reaction except in fiat chrysler. who do we have on this auspicious. mike murphy op my left. physically. and we're down 9 points. pretty flat opening. which individual stocks do we have to talk about in the early going. i want to know what's moving. i know we've had five dow components. let's start with transcanada, that's the company that will build the last leg of the keystone pipeline which mr. trump is going to sign onto with an executive order taking that out of mothballs. transcanada stocks are a modest gain. and how about apple? where is that is $119 a share. we had a company there, was it barclays has downgraded apple. they've downgraded them. so, it's dropped what, 34 cents and dropped below $120 a share. where were we with alphabet. record high yesterday, whoa, will you look at

. >>> fiat chrysler ceo responds to cheating on emissions tests.ction news" continues. >>> fiat chrysler is refuting charges by federal regulators that it cheated on emissions standards. that they failed to disclose the use of software allowing some suvs and pickups to evade emissions standards. some analysts suggest that fiat chrysler's problem was not intentional deception like vw. >>> and a teacher shaves his head to show kids about bullying. when the boys classmates started making fun of them and ask the him to bring barber clippers to school and the next day the boy went to work shaving the principal's head. >> i have a mother with cancer and a father-in-law that did not win the battle against cancer. he hopes that his students understand that everyone needs support now and again. >>> the "action news" team is out working on news stories tonight beginning at 4:00. like this one. freebie friday today. we have a number of freeways to help you stay healthy from important screenings to workouts we have you covered and an inauguration invitation mi

you saw yesterday fiat-chrysler, big, big factory going to be built in this country as opposed to another country. ford just announced they stopped plans for a billion dollar plant in mexico and they're going to be moving into michigan and

fiat chrysler trumpeted a billion dollars and drew praise from mr. trump. the auto maker insists it is part of an already established strategy. ford canceled plans to build a new plan south of the border, but general motors ceo said she is not changing a thing and production will stay where it is. in mexico. it's the back and forth with mr. trump that has overshadowed the glitz of the detroit auto show. >> beyond the bright lights and big production introducing new models, the biggest presence at the detroit auto show is president-elect donald trump. he is not visiting, about you on the mind of everybody here who realized trump wants more auto jobs created in the u.s. and not overseas. they announced plans to hire 2,000 fore workers as it expands jeep production in michigan and ohio. president-elect trump tweeted about the decision, saying it's finally happening. fiat chrysler announced plans to invest $1 billion in michigan and ohio plants and 2,000 jobs. >> the timing may have coincided with the emphasis that trump is making on american-made products and

and this from fiat chrysler. be investing $1 billion as it invests in its jeep line up in the united states. investing in plants in michigan, ohio. 2,000 jobs will be added. they're bringing a jeep pick up truck and bringing back the jeep wag nooer and grand wagoneer. sergio marshen is no fool. he realizes that keeps their production in mexico less -- makes it less likely to be a target of a tweet from president elect. and meanwhile, general motors unveiled the new gmc terrain. the ceo says the company has no plans to change where it builds its vehicles right now but will work with the trump administration in whether it can do more in the united states. and with you take a look at volkswagen, it's in the news because of the arrest of a volkswagen executive yesterday reported by the new york times. last night the company unveiled what they're calling the id bugs. this was the future vision of the vw microbus. the ceo would not talk about the criminal investigation but believes the company is slowing putting the in

we have a lot of great news with ford and general motors and fiat chrysler. lockheed is adding a lot of additional people. boeing -- we have a lot of positive things happening and it's really going to start bursting. people off of our welfare and back to work. so important. it's out of control. [applause]

in this case, fiat chrysler is saying it wasn't.ey have a software fix in these vehicles that wasn't disclosed. what those devices actually did is what the e.p.a. is trying to find out. the similarity ends there. once the e.p.a. figures this out e can know what will happen. oliver: any chance this is going to get to the 20 billion plus bill that v.w. is facing? david: it wouldn't be that big, at least at the moment, because you're talking 104,000 vehicles, versus well over 500,000. the cost to volkswagen got big because they had to buy vehicles back because they didn't have a fix for out or compensate the cost to the owners of the cars. we don't know what the fix. is suppose fiat chrysler is guilty but the fix is a software upgrade that keeps the vehicles' software brains from changing the emission output, that could be cheap. in volkswagen, there was heavy hardware that had to be changed, in some cases they couldn't fix the vehicle so they had to buy them back, and bought them back at a premium. e fines could be bad but not as big