what is bob dudley going to make of that? i do not know. we will speak to ryan chilcote. >> before ago, we had to check in at the equity market. the dax is up. call it a greece-induced rally. . >> the bp's cash crunch. they enjoy exxon. we will speak to bp's ceo. >> greece's debt plan. they played to exchange a debt in their latest bid to seal a deal. >> rates down under. australia cuts is benchmark to 2.25%. ♪ quickly good morning. you are watching "the pulse.”

dudley. a good day for mr. dudley. earnings up. earnings of 1.6 and you came at at 2.2.eless, a decline. i want to ask you about the oil price for you you said you expected to remain a low. how many years are we talking about? and what kind of range can we expect in terms of the oil price throughout? >> there's a lot of supply and depends on demand and yet we have stocks feeling of around the world. china is going but not as much and all of this has led to lots of stocks building up. you may see it building up in ships and it can go over quite a while. for us, planning on 1, 2, 3 years and balance our resources. >> what kind of range can we expect? people talk about oil or gets low as $25. as some seeing what will seen and maybe we have found the. where do you see the range? >> the market is not sure. we have seen it go of recently to $45 and now around $54. it has been moving in that area but there are factors. click could be a price signal downward. if we had some other political event could drive it all. iraq moving the price. i do not think bills are fundamental chal

bp ceo bob dudley spoke this morning. >> i think it's going to take time. could be a long time. there is excess supply. u.s. production's still growing. we see about the rig counts what it's growing. and chinese demand of course great. growth in china is not as high as it was. so we have stock levels filling up all over the world, tanks filling up. won't be long before people putting them in ships and that take is along time to work its way off. >> is there a lot of oil news today. that's just one data point. >> i love bob. he's late here. there's already been a dramatic increase in the number of financial players taking down tankers. if you look at nordic and american tanker they will tell you that is happening now. what's interesting -- and bob dudley, i know bp is hated by many people some people never go to bp again, but this guy's a very good executive. had to deal with different challenges. bp exxon, chevron, whether by the buyback, what he said don't believe we're at the bottom. analysts are desperate to call a bottom. saw one at stifel talking. ann report anadarko report

ryan will be speaking to bob dudley. you will not want to miss that interview. >> we are getting breaking news from the u.k. telecoms sector. saying they are on track to deliver the 4% revenue growth in 2015. this is the lower end of market expectations. they do say that they are on track to deliver 2017 targets. they have reduce that to minus 1.2% in the third quarter. let's get more on those numbers. joining us now. great to speak to you this morning. give us some clarity on where you are guiding expectations. you say you remain on track to deliver the target but ebitda could be lower than market expectations. >> our -- we are on track to be at least 4% so you can see it is accelerating in the fourth quarter. we do expect profits to be toward the lower end of market expectations in part because of our acquisition that we completed a few weeks ago. in part because some of the cost savings that come with improving our customers experience are coming slightly slower than expected. you can see that they are coming because

that want to buy from chinese suppliers. >> bob dudley. >> bob dudley ceo of bp. >> certainly is.his morning. u.p.s. posted earnings in line with lowered expectations. we'll talk to an analyst in about 15 minutes. etna's earnings matches. that number still below street consensus. aetna also being impacted by rising medical costs. "the wall street journal" reports that staples and office depot are in advanced talks to merge. no word yet on the proposed terms. but the activist called for a merge last month. and rent-a-center taking a hit. late yesterday was down about 14%. as you can see the quarterly results fell short of estimates. also weak guidance was issued for the full year. >>> earlier this morning as we were just talking about, bp ceo bob dudley joined cnbc's worldwide exchange to talk about the company's results and the overall oil market. >> i think it's going to just take time. it could be a long time. there is excess supply. u.s. production is actually still growing. we see about the rate and what it's growing. of course there's great growth in china. so we have stock l

we know the fire broke out after 3:00 this morning on dudley lane just off rockville pike in bethesda. we want to check back with news 4's derrick ward there. >> reporter: as you can see, the cleanup has already begun there. crews are putting plywood up and starting to assess the damage. we're told preliminarily it could be close to $1 million. take a look at the scene earlier this morning. it was about 3:00 a.m. when the fire broke out. at the height of this thing the flames were high enough and bright enough to be seen from the other side of the road. that's fortunate because they couldn't be seen from inside the apartment. it was a resident or a guest at the marriott hotel that first called 911 to alert folks this fire was going on. it seems to have started in a drier vent outside the building. the people inside the units weren't immediately aware what was going on. fortunately by the time firefighters got there, they were outside of the apartment. they had gotten themselves out and none of them were injured. however, there were a couple, shall we say, minor injuries on the part of

believe the fire started early this morning near a dryer vent at the bethesda hills apartments near dudley rain. residents made it out safely. >> these are safe. nobody got hurt. >> two firefighters got hurt, one suffering a hand injury, the other slipping on ice. they were treated and released from the hospital. damage to the burned apartments is estimated at $1 million. it could be tuesday before we know the professional fate of joshua stark. the board of education said that it and stark are discussing his future with the district. he had a midnight deadline to apply for another four-year contract. he liked support from the board for a new term. the board has until march to make its decision. there were super bowl parties around the country and millions watched as a last-minute interception by the patriots help them get a victory over the seahawks. one party and marilyn took on special meaning. it was for critically ill children being treated at the national institutes of health. jay korff is live in bethesda with the story. >> this can really be a terrifying time in these children's liv

the beat vinci executive bob dudley says despite the change in oil prices, don't expect to see $100 per a long time. >> we could go into a period in this decade

the beat vinci executive bob dudley says despite the change in oil prices, don't expect to see $100 per for a long time. >> we could go into a period in this decade of lower oil prices. i think it will be a long time before we see $100 again.

for better or worse very a guy named bill dudley now.oming up on the one-year anniversary when dudley talked down these better biotechs companies but yet he still came out in march of last year and said biotechs are looking overvalued. small to mid cap social media overvalued. is that going to happen again if the nasdaq keeps going? i'm looking for some of the stocks to get dudley'ed. >> maybe one of the biggest buying opportunities when the fed in some sort of survey or report or whoever put it together suggested that there was froth in that part of the market. >> that might be the biggest legacy of the nasdaq 5,000 in the first time. we're conditioned to look for this mania out there. the only i would caution you don't have to have a mania to have a market problem the fed is not trying to market time. alan greenspan's speech was in 1996. >> yeah, right, four years after that. >> four years of green snooelds mike santoli makes a point you don't have to have the irrational exbeau brans to have a market top. >> there's no event. there's -

three families were forced out of their homes overnight on dudley lane in bethesda, which is near a marriott hotel. >> photos and papers were scattered across the grae snow after a fire forced three families out in the cold in the middle of the night. the fire department says they got a call around 3:00 this morning from someone staying at the marriott across the street who spotted the fire. >> not exactly across the street but the vantage point they had was just the right angle and high enough in the hotel that they were able to see this fire. >> fire investigators believe the fire started in the area of a drier vent in one apartment spreading quickly into the walls and floors causing significant damage to the building. it took 150 firefighters to fight the fire. the fire department says smoke detectors and sprinklers went off and residents were able to get out safely in time. >> pretty good at maintenance. they keep up with their fire alarms and clean out the drier vents. i'm very surprised. >> now as residents are left picking up the pieces firefighters are trying to raise awareness on dr

i want to show you exactly what dudley said about this being more aggressive.ates, quote, persist even after the fomc begins to raise short-term interest rates it would be appropriate to choose a more aggressive path of monetary policy. a lot depending how the markets reashth to the first interest rate increases by the fomc. quick look at gdp. the number revised down 2.2% from 2.6. but the internals are okay. consumption remained a strong 4.2%. business investment revised up. equipment up. the downward adjustment to the inventory number, that means less of the inventory to work off, 25 billion or so less. this question outlet for interest rates, outlook for fed policy and the outlook for growth part of the interview i have coming up with stan fischer, 3:15 p.m. this afternoon. >> i'm excited for that steve liesman. don't get to hear from stan too often. the maestro of monetary economics. we'll look forward to that later on. >> i wouldn't call him -- sara i wouldn't use that term because the last time somebody was called maestro, it didn't work out too good. >>

bill dudley cited uncertainty about the sustainability of the economic recovery. meantime fed vice chair ted fisher and exclusive interview with steve liesman said he sees a rate hike sometime this year. >> yeah i think there's a pretty high probability that this is the year. we're very close on unemployment and inflation is in a situation where it's low because of oil prices but we expect it to go up once this effect wears off, which it should do in a couple months. so it's about time. >> it's about time. fischer defended the central stimulus program saying it played a crucial role in turning around a weak economy. >>> some not to hot news of the midwest. economic activity in that region unexpectedly contracted tumbling to a 5.5 year low. according to the purchasing managers index, the port strike and harsh winter had a negative impact >>> homes came back to the market in the country signing more contracts to buy existing homes than they have in a year and a half. the national association of realtors monthly index of so-called pending sales deal signed but not ye

police say 1584 old at a tanira was last seen on dudley in camden. she's known to hang out street park. if you see her or know where she is you're asked to call police. >>> philadelphia police are looking for a man they say was trying to steal a package from the front of a home. police releasing this surveillance video of the man casing the home along the 600 block of south front street after walking by a few times he walks into the foyer to get the package but he was confronted by someone and ran off. this happened back op january 22nd 22nd if the man looks familiar to you call police. remember you can remain anonymous. casino workers take a gamble and file charges against their new bossesbosses atrium much ma hal. the work considers union is filing unfair labor practice charges. the old rules are outdateed. employees argue they're the ones suffering. the company is threatening threatening them with changed work schedules. taj will get the first and stall the of $20 million from billionaire investor carl icon on thursday. icon who is acquiring the c

it happened this morning on dudley lane in bethesda.>>> d.c. police arrested a couple for leaving their children unattended in a car for about an hour on saturday. the couple was eating inside a foggy bottom restaurant on 23rd street. somebody saw the kids outside and called police around 6:00 p.m. the parents are now charged with cruelty to children. >>> new tonight a decision about superintendent joshua starr's future with the montgomery county school system was supposed to happen by tonight. but the news4 i-team has learned that the school board is extending contract deliberations. those talks will continue tomorrow. board members say they need more opportunities to communicate with starr. a district official tells us that the board will probably make an announcement on tuesday. >>> at 8:00 in the morning, the building where 12 people were killed at the washington navy yard will reopen for the first time in a year and a half. it will open with a new name after a multimillion dollar renovation. now only on news4, chris lawrence speaks

they actually were to be stationed about two blocks away at dudley high school, and then to instantly appear if anything happened, but they also said they would be present at 11:30. that was 30 minutes before the parade was to take place. as it turned out, all the people were killed by 11:30 when the police appeared. i think residents of the city were shocked on the evening of november 3 when they began to hear reports about what had actually happened, shocked to know that people could be killed on a greensboro city street. one reason that the cwp felt safe in staging the parade in greensboro was it was always thought of as a moderate city and it certainly had a strong police department. they felt safe. i think the residents were shocked that it happened here. i think the majority of greensboro residents had never heard of the cwp. they did not know that they were unionizing -- there were unionizing activities going on and they couldn't have found the location of the shootings without a map. i think the city response -- again, we have to talk in segments -- the official response from

bob dudley from ceo talking about a host of issues from the price he thinks will stay where it is now and how bp was perhaps in a better position to cope with some of these challenges and maybe some of the rivals. >> steve thank you so much. you got him to talk about everything from sanctions in russia to its exposure and what to expect going forward. bp one of the out performers today. now sticking to oil, do you think, dear viewer the price of oil has seen a bottom? let us know what you think. join the conversation here on worldwide exchange. you can get in touch with us by e-mail. tweet us at cnbcwx. >> as soon as we see a turn around everybody is speculating. >> well 11% rally in the last two days. that is notable. >> i know it is. it might well be. >> we had a bet earlier on. i thought we had hit a bottom at that time and oil was at 42. >> exactly. >> which i was wrong. >> you won. >> you owe me a cake. >> you got it. after break. >> italy's new president is being sworn in after he was elected by parliament on saturday to replace napalitano. he is 73 years old. he's had a whole h

the flames started at a building on dudley lane.through a bethesda apartment building. the flames started at a . two fchs sfirefighters suffered minor injuries. they believe it started in a dryer vent. >>> we're working to find out more about the condition of two pedestrians hit on the bw parkway near route 198. at last check police told us a man and woman are in serious condition. the circumstances surrounding the accident are under investigation. >>> one of the most talked about moments of every super bowl is of course the halftime show. >> this year pop star katy perry took center stage and she did not disappoint. ♪ ♪ a lot of people are saying that missy elliott stole the show. she was much talked about as a surprise guest. although people of course leaked it on social media. her 12 minute performance, this is katy perry's full of visual effects. she came in on a giant robotic tiger, she had lenny kravitz dancing sharks skateboards. this of course was her fire work finale. >> this was my favorite. as soon as i saw this, i thought she's riding the more you know star.

the fire broke out just after 3:00 this morning on dudley lane just off rockville pike in bethesda. everyone made it out of the three-story building. >>> this morning people from here and around the world are praying for a virginia boy hit by a car while sledding. the 6-year-old is a huge fan of the washington capitals. now there's a social media movement to send his prayers. news 4's darcy spencer reports. >> reporter: he's one of the caps biggest fans, in desperate neat need of prayers. 6-year-old benson is in critical condition after a sledding accident. family members waiting at the hospital decided to start a call for prayers through social media. they're using the #prayforbman. this young hockey fan got the attention of capitals team owner ted leone sis. he said please take a minute to say your prayers. we are praying for his speedy recovery. some caps players have also posted pray for b man messages. the caps announcer posted this youtube video. >> benson, we're awful thinking about you here with the washington capitals. we want you to get better soon and unleash the healing!

this was on dudley lane just off rockville pike in bethesda.news 4's derrick ward is live with some new information. hi, derrick. >> reporter: good morning. take a look at the scene here of this fire. later we'll show you video. now we want to show you what it looks like from the outside. so many things came together to keep this from being a much worse fire than it actually is. take a look at video from the scene earlier this morning. it was about 3:00 a.m. when this fire actually broke out. the first 11 call came from someone at a nearby marriott hotel. it's one of the taller buildings in the area.gt they're actually able to see the flames. the good thing about that person just being up and having the sense -- the frame of mind to call authorities, not even knowing the address but getting them here. this fire wasn't easily detectable inside when it started as we hear from pete perringer. >> it appears it started in a drier vent into the siding. eventually we lrnd it was in many concealed void spaces. >> reporter: as this fire was burning, peo

he is eventually taken in by dudley diggs in what we know as fort washington, where he resides for many years. when diggs dies the land is inherited by his niece, the daughter of one of the original federal city commissioners. she hated l'enfant and drove him off the land. he went to live with digg''s nephew in bladensburg. he welcomed l'enfant. i don't how his wife felt. she was the daughter of the man whose house l'enfant took down brick by brick because it was built into one of the circles of his plan of the city. george washington fully supported l'enfant in his decision, though not in his action. you can see the letter washington route to daniel carroll in an exhibit opening at george washington university in march at the new our small museum at the new university museum. two exhibits from albert small's collection including this letter. l'enfant dies in 1825. he is married on this plantation in the slave cemetery -- he is buried on this plantation in the slave cemetery in an unmarked grave. they were able to find the exact skeleton which they took out of the graveyard at the plant

there's one thing i heard today that bill dudley said at a conference, that the destination of the funds rate is the terminal funds rate is closer to 3.5 versus 4.25, meaning the destination is lower. i think we're in a zone of i think the fed can move sooner but maybe wait until september. we think they can go in june. the pace will be deliberate. >> the papers, various papers, tried to sort of size up what yellen was saying earliers in the week. did you take the fed chair to be more dovish or more hawkish? >> so i think there was a little for everybody in the presentation and the statement as well as the questions. however, i think you had to take away from it the fact that they've opened the door to starting the move, but it wias pretty clear the stream throughout it we can take our time and with inflation there's a medium term focus on inflation. that being said, we're still not -- we still have not achieved our goal and cab be patient about it. if i had to characterize it on a scale of one to ten, ten hawkish, zero or one being dovish, i would say about a four, a bit more dovish. >>

bob dudley talking about the situation in the north sea being serious. would you ask of that claim?is going to be done about it? guest: well, the oil and gas industry all over the world faces serious challenges especially in the u.k. sector. costs are too high and efficiency is too low. these concerns are being addressed as we speak. the real challenge for the u.k. government, is that the tax take on oil and gas is far too high. it has been used as a giant cash machine for government for far too long. what we need to do to re-instill investor confidence all over the globe with operators who are making decisions about life prolongation of fields is to give the tax deal that provides certainty and predictability. we set out three components that we believe the u.k. government should implement in their budget. first, a reduction in the headline rate of tax. secondly, an expiration tax credit along the lines of norway. thirdly, an investment allowance. if you have the right tax environment, then i believe that in the medium to long term there are excellent prospects still in the waters

olivia: yeah, i felt bob dudley the head of bp, saying -- central banks are in negative territory. talking with the plunge of oil. do you think the norwegian bank is the next? maury: they certainly could be. brendan: you talk a lot feeling like the 1980's, there is a great bloomberg news piece about just a much aberdeen has changed. at cafÉ boem about 30 christmas bookings were cut in december. luxury used to exist in northern scotland that is not there anymore. maury: this is a redistribution of income. away from oil producing countries to oil consuming countries. the counter to all of this will be the united states probably having a pretty good year because we are on balance and oil importer, and this is good for us. it is good for a lot of developing countries that are net consumers of oil, be it china, india but personally think there has been too much focus on the losers are not enough focus on the winners. tom: you have been out front on this. you had leadership and optimism on the american economy. you do that in your new book maury: "inside the crystal ball: how to make and

bob dudley told bloomberg that oil is likely to stay low for quite some time. >> you look at the fundamental supply and demand. it reminded 1986. -- it reminds me of 1986. able be a long time before we see 100 again. >> oil is up for the fourth day in a row. more than $51 per barrel. there is likely to be a settlement in the government's sub prime mortgage bond suit. s&p would pave $1.4 billion to settle claims before the financial crisis. s&p will not admit it did anything wrong. breaking news. angela merkel is saying they are going to wait for recommendations from proposals as a greek government on their debt situation. i know hans nichols has been on top of the story. what can you tell us? >> here is what we know according to a person familiar with the matter. germany is preparing to wait greece out through this next round of funding may be all the way until april or may. this is a crucial bit of reporting. that means that the showdown with greece could be much longer . it could go beyond this february 28 deadline which is when greece exits their current bailout package. that is when if t

dudley has said the same.fed has not indicated it will push back the rate hike schedule. brendan: do we look at the top measures or do we adjust for oil? david: i think you do have to adjust for oil. what people by matters. with all -- with lower oil and energy prices, that becomes a smaller and smaller index. tom: you are one of our lead economists on this in the nation. should we look at as a normal -- look at this as a nominal topline? david: -- richard: my focus has been on nominal. we can measure the matter of money people spend on goods and we are in a global economy. tom: we will come back and talk about this. rich clarida was a very important point on nominal versus later. stay with us. ♪ tom: good morning, everyone. a look at the top headlines this morning, here's brendan greeley. brendan: janet yellen faces the house financial services panel today. yesterday, she faced the federal reserve banking chair. griese says new economic policies are only the beginning. athens is earning praise for its moves t

where a 40, 50 $60 oil price is what we're going to be living with for the next year or two which bob dudley the ceo of bp was suggesting that then take our minds back to the last time we had low oil prices or lower price which is is the end of the 1990s. we had major mergers. now today we have a second tier of players, bg group. those are companies not in the major category but they're having difficulties cutting their investment. cutting staff. maybe cutting dividends. that remains to be seen but those companies may be the ones that are going to be the one. there's other oil companies that may not be big enough to have the heft to go forward indepen den independently. >> thank you very much. >> of course we have been following the news coming out of frankfurt. the greek finance minister saying he is having a fruitful discussion with the ecb president mario draghi and says we cannot continue with business as usual. of course he has been on this whistle stop tour. he is points higher posing to raise 10 billion euros in short-term treasury bills as a way to raise some financial aid and allow

my proposal was to change something in place since 19 36 which is my good friend bill dudley, whoeverrk is, gets to be vice chair of the fomc and always gets a vote. cleveland votes every two years as well as chicago. this is not 1936 any longer. it's not the 19 60s. population trends change. federal reserve district has grown total over a period of 1970 to today by 9%. our federal reserve district 121% of population and san francisco fed 112%. >> we need to reflect that. >> my idea was to take away the steam from this and we can talk about it later, but giving all six presidents a vote, six governors a vote, rotate so you have every two years all 12 presidents vote, and then make the vice chair every two years would be one of the federal reserve bank presidents. >> okay. >> rather than the new york fed. >> read about this online. thank you for joining us. richard is going to stay guys to talk about the other controversial issue in washington, which is the issue of auditing the fed. we'll bring you what he says about that in the 3:00 hour. brian, back to you, i guess, in houston. dall

new york fed president william dudley telling a forum hosted by the u.s. -- that the risks of hiking interest rates too early are higher than the risks of waiting citing the current low rate of inflation. on a sad note leonard nemoi has died. he died in bel air in los angeles. he announced last year he had chronic obstructive pulmonary disease. he was 83 years old. and that's your cnbc news update this hour. we're going to go over to dominik now for a market flash. dom. >> a sad day. especially for star trek fans like myself. also watching what's happening now with shares of sprint. the stock is moving towards its highs right now today on a filing that the company's ceo filed that over the past couple of days he had purchased around five million shares of his own stock. again, the sprint ceo saying in a regulatory filing he has bought about five million shares of his own stock over the last couple of days. that current price is around $25 million. back to you. >> okay. thank you very much. >>> a really big buzz today about this dress, folks. a social media debate raging over exactly

dudley the only thing that's keeping brian alive is -- >> i'm selling crawfish. >> happy mardi gras everybodyday and tomorrow starts ash wednesday, so it's a great seafood, mardi gras season started. we're ready to go. >> first you got to get a big boiler. >> you get an 80-quart pot you and start putting in your seasoning. we're going with the traditional bag seasoning. we're using two of the powders. those go in. >> as you're doing that, we should point out you guys brought in a brass band the jeff miller band. >> hold on a second. is it too cold to play that thing? >> it almost is. >> really? you want to do your best is this. >> yeah. >> go ahead. not too loud. >> go ahead. >> kind of soft. ♪ ♪ >> we're putting in our seasoning. we got that going. then we got a new seasoning vegetable. three pounds of onions. we'll use them for seasoning. all that goes in. let that come to a boil. those are already done. now we got these here. a few limes. >> wow. there you go. you want to stir and bring it to a boil. >> there's a way to eat a crawfish. >> there is a way to eat a crawfish. you take them, yo