joining me is erik schatzker. erik: it is crunch time for greece.ters are holding an emergency meeting in brussels today. yanis varoufakis says he would accept existing terms to get an extension of greece's loan program, but for anything beyond that he wants to negotiate new terms. you know how the germans feel about bridge financing. german chancellor angela merkel and francois hollande are meeting in paris to try to salvage their fragile cease-fire agreement in ukraine they brokered last week. the deal is doing little to stop the fighting. the government says a town near the donetsk is being hit by rockets. merkel and hollande will hold a joint press conference later this hour. walmart broke under the pressure and agreed to raise wages for about half a million workers. hourly workers are going to get nine dollars an hour about $1.75 above the federal minimum. tens of thousands of walmart employees are believed to be living on near starvation wages. walmart says it also wants to lower its worker turnover rate. walmart says it puts pressure on rival

with erik schatzker and stephanie ruhle. erik: time is running out for greece. european finance ministers say no more talks of financial aid unless greece agrees to extend the bailout program. stephanie: where are investing. erik: changing the world of fashion with a laptop. a blogger whose influence might rival in a winter -- rival anna wintour. i'm erik schatzker. stephanie: i am stephanie ruhle. we misseed y-- we missed you. erik: a vacation. i will not go so far to say i deserved it, but i enjoyed it. stephanie: getting the top business stories of the morning. greece. talks over the greek bailout have broken down. germany's commerzbank says there's a 50% greece will leave the euro. greece is refusing to meet european demands that it requests an extension of the current bailout program. here is greece's finance minister. yanis varoufakis: in the history of the european union, nothing good has come out of ultimatum. we proceed from crisis to crisis and this is how we improve. in the next few days, any notion of an ultimatum is going to be withdrawn. stephanie:

erik: wait a minute. the i.p.o.e most leveraged equity. >> i think if you look at kendrick perkins, they put frank: we're way better prepared than we were a year and a half ago. erik: thank you frank from the first data corporation. >> some of the headlines around the world that the hour. the ukraine. looks shakier by the hour. meanwhile ukrainian troops have given up a crossroads town to the rebels. the president you shiancoe wants the u.n. to send peace keepers. kim jong you know has order a death. and sounds like a travel agent's pitch. book your vacation to venezuela now, because prices like these can't last. the exchange rate went from 50 but vars to a dollar. a domestic flight costs $7 and a big mack in venezuela, 92 cents. more market makers is coming up next. ♪ >> ok erik, we look like we have something out of per lynn, the german finance ministry said the proposal from greece is dead on arrival. what we are looking at just now from in and out of our berlin bureau sthaze in fact the german finance ministry w

stephanie: our own erik schatzker. we will have more from erik in just a few.tephanie: coming up, billionaire charlie ergen retakes the rains of the company he founded. alix: plus, you can't say the bourbon boom is on the rocks. he's out there. there's a guy out there whose making a name for himself in a sport where your name and maybe a number are what define you. somewhere in that pack is a driver that can intimidate the intimidator. a guy that can take the king 7 and make it 8. heck. maybe even 9. make no mistake about it. they're out there. i guarantee it. welcome to the nascar xfinity series. >> live from a headquarters in new york, this is "market makers " with erik schatzker and stephanie ruhle. stephanie: i'm just stephanie ruhle on "market makers" here. i had a talk about alix getting a haircut. erik schatzker is on the ground in athens. lucky me, look who's in the house. alix: i don't need cool socks. stephanie: who needs cool socks? these are the top business stories of the morning. signs of an uneven recovery in real estate. sales fell 4.9% to a nin

erik: so how much is it worth?aul: i don't think it is worth much at all. $170 million in revenue. "the new york times" trades at 1.2 times that revenue and that is "the new york times." the numbers are not big. it is more the vanity play. they could be any hedge fund manager, any new york big with -- stephanie: how much does "the washington post" go 4, 250? this would be around 100. wouldn't you think it would be worth more than "daily news." david: it is astonishing with all of these properties. a little over 20 years ago, the new york times company in a blender of catastrophic proportions acquired "the boston globe" for $1.3 billion. they sold it for well under 10% of that. stephanie: wow. paul: and rupert bought dow jones for $5 billion and wrote down a big slug of it the next year. there are a lot of people year -- david: there are people in new york who want to be players and there is this entire new cadre of fortunes made in silicon valley and technologies -- stephanie: no longer has to deliver all of his ne

erik: more frequently than that.: i got my haircut by his partner, the man who inspired edward scissorhands. you don't get to tell him what you want. he decides. inside the plaza hotel, one of the most expensive locations in new york city. they do not charge every client the same amount of money. it depends on who you are, where you come from. if you think about it, these guys have been in the business for over 30 years. you do not see that in this industry. erik: edward is the top dog, for sure. i have had a $1000 haircut. remember? the thousand dollar haircut has not inspired me to leave. there you go. we are talking about life for the 1%. let's talk about life for the 1%. yesterday, on an earnings conference call by mgm resort, this came out. a $300,000 dinner check. stephanie: why wasn't i invited? erik: in vegas at the bullocks year. 12 people during the --. stephanie: it happened during cef. i would love to know who was at that table. what were they doing? swimming in caviar while having champagne poured on the

erik thank you so much.will be talking easing next. ♪ francine: welcome back to "the pulse" live from london. i'm francine lacqua and here are bloomberg's top stories. euro zone finance ministers talks in brussels today over greece's proposal for a six-month extension for its loan program. a government leader says that the proposal is a basis for negotiations. the greek prime minister said yesterday that he had positive conversations with the german chancellor angela merkel just hours after her finance minister rejected greece's request. today marks the first anniversary of the maidan massacre in ukraine. 50 processors were shot dead -- protesters were shot dead in kiev. the shootings sparked protests. the anniversary comes as germany, france, russia, and ukraine reaffirmed their commitment to last week's cease-fire agreement despite the seizure of the town of debaltseve. the german economy picked up momentum this month while france showed signs of strengthening. the composite figures indicate that the regio

erik joins us from athens. what is the latest? erik: well, we need to talk about the banking system mark because anytime a country's economy is in jeopardy, the banks become a pressure point. we saw that in the united states after the financial crisis, we saw it in spain and ireland. he does most definitely been the case in greece over the past month. since syriza swept to power in january, it has been an open question of what happens to greece's banks. depositors have been voting with their feet. they have withdrawn by some estimates 20 billion euros from greece is thanks. and before that agreement with the eurozone, the future of the banking system was an open question. i sat down with mr. varoufakis the finance minister late this afternoon and i asked him how long it would take to stem the outflow to reverse the tide. here is yianis varoufakis on great bank deposits. yianis: yesterday we had a flight back into the banking sector, 700 million. mark: 700 million euros -- yanis as a result of this bridge agreement. i checked the n

my colleague and co-ahuthor erik just talked about. first thank you to our host this morning. fantastic for brookings and the amount project to convene this conversation and bring such a room of fantastic participates together for this. i'm deeply grateful. in particular, i'm extremely appreciative of the focus that the amount project has. to my eye, a lot of the debate about the trends in the economy, not that it's pointless or misplaced. it's missing the really important story. we're arguing about the 1% and the 1% of the 1%. that's a valid conversation. the much more important one is what's happening at the 50th percentile of the american workforce, what's happening at the 50th percentile of income and earnings? these are the people as we look around really facing job and wage challenges. hamilton's focus on those populations in our workforce seems to seems to me exactly the right focus to take. the second thing i'd like to do is congratulate our host, particular particularly bob and roger, for bringing a particularly diverse crowd

erik: left behind, what does that mean?n chambers predicts that 40% of the enterprise which he defines as companies with 1000 employees or more will not be here in a decade. in other words, 40% of america's large companies will go out of business because they have been disrupted, they failed to catch the transformation failed to hit the wave in time in the space of a decade. i did a quick search for public companies only because bloomberg is extremely helpful in that regard. there are roughly speaking 2000 publicly traded companies in america with 1000 employees or more, 500 of those will be gone in the space of 10 years. cory: if john is right. he's typically a bullish guy. certainly people work there, look at the stock price and say nothing has really happened in 10 years, but i think you are right to point out the survival rate for this company. no one is talking about 3com right now. erik: john chambers is very mindful of this. we don't need to make reference only to the nortel's or lucent's or 3com's. there are other l

erik schatzker, there from athens.e pulse." >> "surveillance" is next with tom keene and his team. ♪ >> rebels attack. kiev struggles to maintain order. greece against "tough negotiation" that will send a list of measures to brussels today. taking the child to disneyland. it will bankrupt you. let me save you therapy and "let it go." this is "the pulse." it is monday, february 23, i am tom keene. joining me, olivia sterns and brendan greeley. let's get to the top headlines this monday morning. >> or fighting in ukraine over the weekend. the government says pro-russian rebels attacked with artillery and automatic weapons. both sides say they have completed the first prisoner exchange since agreeing on a cease-fire, now a days ago. another day, and other deadline for greece. prime minister alexis tsipras has until the end of the day today to come up with a new list of financial reforms. european finance ministers will decide of those proposals go far enough

i'm stephanie ruhle. >> i'm erik schatzker.in new york city. >> any chance you will watch the academy awards? >> yeah. >> the grammys are a lot more enjoyable to watch because it is seniors, performers -- singers performers. the oscars, long speeches thanking mothers, brothers hebrew school teachers. >> i'm not going to tune out let's put it that way. you? >> i'm going to watch what they are wearing for sure. i'm obsessed over the fact that there are swag bags this year, worth $167,000. we have a special treat for you today. jaywalker will be our guest host for the hour. he also wears a killer vest. he's a chairman of patent properties and the founder of the newly launched u.s. patent utility. he personally owns more than 700 patents himself. i'm going to make him name all of them. talk about a man with many ideas. >> hebrew school teachers? >> they are thinking hebrew school teachers? >> they think everybody and their brother. >> jay, we need to bring everybody up to date. it is called the bulletin, the top business stories of

erik:>> today at the fcc, it is nothing but net. regulators prepare for a landmark vote on net neutrality. the incredibly shrinking retailer sears is not losing as much money as it was. the undocumented immigrant who became a star at goldman sachs in the u.s.. welcome to market makers. i seem to have misplaced stephanie ruhle. i'm terrified all by myself. i'm going to kick it off with the top business stories of the morning. sears is getting smaller and so are its losses. the retailer cut its losses by more than half in the fourth quarter. it has now lost money 11 quarters in a row. eddie lampert has been shrinking the store base and separating units to generate cash. they want to form a real estate investment trust to leaseback the stores. first-time jobless claims rose by the most in more than a year last week. it was well above the estimate. inflation at the consumer level took a dive last month. prices fell zero point 7%, probably due to falling energy prices. the cpi actually rose. the fcc is headed toward a landmark vote on re

erik schatzker is out today. have a special cohost this morning.here is nothing worse than a person sitting next to a person getting their name five euros sample deli -- bobby o -- scarlet fu is in the newsroom wholesale inventory data. wholesale inventories increase at a slower rate in the month of december. >> again of 1/10 of 1%. looking for an increase of 2/10 of 1%. this marks a slowdown from the 8/10 of 1% that we got in the november period on the month over month basis, that was a drop slightly larger than what economists had been anticipating. carl written on a word -- warned that this would not generate -- that's pretty much the case right now when you look it how stocks are performing. they are holding on to their games. hard to say. stephanie: it is time to take you to topic the stories of the morning -- top business stories of the morning. shares of coca-cola are trading higher this morning. coke was helped by cost-cutting efforts and a price hike. a warning from swiss bank ubs. the stronger swiss franc and negative interest rates may h

with me now is erik schatzker. is he a bear? erik: we cannot say. at 11:00 when carson block joins us on "market makers." it is warm in here and we are going to heat it up more. carson block has a way of making headlines. remember sign a forest -- remember sinoforest in 2011. carson block rocketed to financial samefame. that stock went to zero, as did a number of others. nq mobile, he has drawn a lot of criticism for this call. the stock is still kicking but it is down 85% since he recommended investors short nq mobile. today, carson block will be with me and stephanie to talk about a european company. we have not had cars and talk about a european company. his first overseas adventure towards europe. he has been in china. i do not know what his position is just yet, nor do i know what the company is. betty: you will find out. is it a self for filling prophecy, carson block says this is a stock that is going to go down to zero? erik: good point. for a while it was. he seemed to have a midas touch. everything he recommended you short ended up going d

this is "market makers" with erik schatzker and stephanie ruhle. >> i am stephanie ruhle. >> i am matt miller. >> we are covering everything and i want to get you started with breaking news in the housing market. julie hyman is in the newsroom with the headlines. what is the word? >> more sold less month than economists had predicted. this might be a sign of stabilization in the industry. 481,000 homes. it was little changed from the 82,000 we saw in december. that forecast was 470,000. there had been concerns about supply constraints with new homebuilders not building any particularly lower and homes and higher-end homes. it looks like again we might see stabilization there. we are also seeing improvements in the job market, feeding through the home market as well. better than estimated month over month, down 2/10 of 1%. >> julie, thank you for breaking it down. >> it is time for the bulletin, the top business stories of the morning. day two of jenny yellen's testimony on capitol hill. the chair of the federal reserve will be questioned by the house financial services committee. yeste

he shot down -- he sat down with erik schatzker yesterday. erik schatzker is joining me.know activist investors? erik: it is important to consider because chambers wants the world to believe that cisco is in as good a position today to take advantage of what he calls the digital era as it was in the mid-1990's when he became ceo to take advantage of what he describes as the information age under bill clinton. he is bullish could not be more bullish, and he has a couple of good quarters under his belt. it has been a rough ride for cisco in the post crisis, but things are beginning to improve. i could recite john chambers' sales pitch at length but i am not going to because his stuff on activism, frankly, is more interesting. the reason i brought up activism with him is not because i know something. if cisco was having conversations with activists, i do not know about them. but i want to know from john chambers if he is because if carl icahn can talk to tim cook, then presumably he or any other activist could, if he wanted to talk to john chambers. the fact that cisco has a

erik schatzker is off today. let's take you to the bulletin. top business stories of the morning. greece's new prime minister reaffirm and he is -- reaffirming his rejection of austerity measures. he will not support anything that will keep greece in a recession. alan greenspan predicts greece will abandon the euro. he spoke on bbc radio. >> i do not see it helps them be in euro and i do not see it helps the rest of the euro zone. it is just a matter of time before everyone recognizes that parting is the best strategy. stephanie: no one wants to risk lending money to greece anymore. for hasbro, the fourth quarter was about boys and their toys. they posted quarterly profits that beat estimates, the reasons, transformers and nurse. next year, they should be stronger with girl's toys. jeb bush has a lead in new hampshire over his potential 2016 rival. that is according to the latest poll. bush was backed by 16% of those surveyed, followed by rand paul. new hampshire holds the first primary. another blizzard heading for boston, which has had more t

let's go to erik schatzker, our colleague in athens. so we're starting to get an idea what the greeks have inside up to? >> yes, guy. good morning to you. the information has been dribbling out since yesterday but now we're getting a much firmer idea. what they have submitted to the eurozone for approval. if this gets approved they will have a further four months to the program that expires this saturday. my guest served as the chief can economic advisor to the previous government through last union. thank you very much. >> welcome. >> you seen the first details of what it is the greek government submitted to the eurozone. what you to make of it? >>> >> it is not official? >> if it is, i have a feeling this is -- reforms and it may -- euro group members. >> how precarious is the current situation? >> possibly some kind of a conflict with our european partners. this was evident in the fact that it was quite considerable withdrawal of deposits from the banks and this was something quite serious, i would say. if there is no agreement -- >>

i am stephanie ruhle with erik schatzker.ghting some of the best hedge funds manager. these are the funds that have the best performances of the year. bill ackman's pershing square was ranked number one. we spoke with bruce richards from marathon and that we are happy to have jason mudrick here. it is a distressed opportunity fund up nearly 16% in 2014. they were right number 17 on the list. -- ranked number 17. how did you do it? >> u.s. distressed. >> where? >> there has been a perception that there is not a lot to do in distressed. we have been very busy. even before energy. it is exciting. in terms of what we did last year the difference with our firm, we manage about $1.2 billion. most guys who do distressed are very large. i know you had bruce on. we estimate that 90 or 90% of distressed are -- >> do you have enough resources? you need analysts, lawyers, so much support. you have enough assets to support the kind of work you need to do to find those great deals? >> we do, especially now. we are actively hiring. a billio

i'm erik jeff zucker. some stephanie. >> we are going to begin this half of the hour with the top stories of the morning. a pay raise for meg whitman -- hp raised her compensation to almost $20 million. hp stock is up by more than 25% over the past year. the company will split into later this year. she will run hp enterprises which focuses on corporate customers. the justice department has stuffed up a five-year investigation of moody's. the issue is whether they inflated credit rating string housing boom. prosecutors are wrapping up a similar case against standard & poor's. president obama plus new budget is challenging republican on the income gap. the plan was sent to congress today. the money would be used to pay for infrastructure and education. republicans are calling me budget top-down redistribution. tired of snow, cold and ice? it is grand how day -- groundhog day and punxsutawney phil said there's this -- so there six more weeks of winter. the biggest tv ratings in super bowl history according to

erik schatzker is an affluence for us. what are they saying about the latest developments? >> i want to be clear the conversation was not between me and the greek official, a greek government official sends us an e-mail. i will not call it a bombshell because so many people are so skeptical about what greases able to look up at. greece will not meet with today's deadline to send a list of opposed reforms. we're talking about the european commission subject to approval by all 19 governments of the eurozone that met on friday that initially granted degrees a provisional extension of four months to the bailout program. that is the news this evening. we were hoping to get some substance from the finance minister. according to his greek government official, at least the institution, they have agreed to hold a conference call with eurozone ministers tomorrow afternoon. things are being pushed back by several hours. we do not have a very good idea of the list of proposals yet. with the ims there are draft proposals being exchanged. that is telling you he is trying to lock a very f

erik schatzker joins me from athens. proposal got approved the what have they been saying about it? eric: good afternoon, mark. there is near unanimity that this a list of proposed reforms is a good or a valid starting point. after that, the opinions the verge. mario draghi calls it sufficiently comprehensive. the spanish economy minister seen behind the closed doors as the hardliner says it is evidence that the terms of greece passes bailout need to be revised because the country's economy is weakening. however, madame lagarde managing director of the imf, was critical saying it was not specific enough and that it lacks firm commitments on pension reform. >> what happens now? what is the next phase? >> that is an excellent question. i have to tell you so much could yet go wrong. first of all, the agreement must be approved by 19 eurozone governments. finland among the countries seen as hardliners who need to improve this. there are other risks in the four months ahead, including execution. here is an analyst here in ath

whenever i fill in for erik i feel like i really need to -- da-vos. i was in the office pool. >> there was an office full -- pool? i was not in it? >> it was that side of the office. >> we are going to move on because my feelings are hurt. we are going to take a deeper dive into the cease-fire in ukraine. ryan chilcote, i'm not sure if he was in the pool. he is in london and peter cook has reaction from the white house. ryan, this does not mean the crisis is over correct? >> no, it is just a first debt. it sort of agrees three simple things. a cease-fire that kicks off on saturday night at midnight. two, the two sides are supposed to pull back heavy weapons. three, you end up with a demilitarized zone, and no man's land where there are not supposed to be any armed people 30 miles wide between the two sides. finally, it sets out a specific schedule for a political settlement of the crisis that is where things get pretty murky. >> what are we hearing from the white house? >> no official statement but we did hear from the president's ambassador to the un

erik: it is all about tuesday.n greece negotiated a 4-month extension to the euro zone bailout friday is a stretch. more accurately described as follows. the only breathing room greece got was to get to tuesday. varoufakis, the finance minister, has to submit a list of proposals to the 19 members of the eurogroup tonight. they will convene a conference call tomorrow morning to decide whether the proposals varoufakis submits will passed muster. if they do not, we returned to where we were friday evening. on the brink of a sovereign default and banking crisis. varoufakis knows this the prime minister alexis tsipras knows this. everything greece gets to the eurogroup is something it takes away from its people and would contravene pre-election promises alexis tsipras and varoufakis made to the greek people. brendan: let's talk about the greek people. i saw a piece of graffiti that read, "alexis the great." how was he seen returning to athens? as a hero? erik: it did not take much to make progress. greece has felt the w

erik let's kick it up with you. you have been on the ground since sunday -- where are we in terms of the details? >> manus we are no further along than we were yesterday. another day, another deadline. the only difference is that we know there was some communication between the greek government and the so-called troika. at least one set of draft proposals was exchanged and is currently being scrutinized by the troika auditors. we heard late yesterday from the managing director of the imf on "the daily show" -- she said that she hadn't seen a list of proposals.. so far as we know, nobody has. >> why is this taking so long? the headlines i read when i came into the office -- they are talking about a reform about tax, billing after-tax evaders and giving people more time. the nitty-gritty -- why is it taking so long? >> manus, you hit the nail on the head. the finance minister is clearly struggling to come up with a list of proposals that satisfy both sets of masters. on the one hand, on the people he refers to as his

erik: up in smoke -- smokers can't wait to get cuba's

erik schatzker is on the ground in athens right now.u are seeing there in athens. >> well, what i've seen so far is anticipation anticipation for what is going to be in this proposal that is coming from y anis varoufakis, the finance minister. that could be 7:00 or it could be midnight. you could turn this moment -- term this moment right now i've the call before the storm and after the storm. greeks are very eager to see what is in this proposal. remember, the party in government pledged to the greek people that it would roll back austerity. the likelihood of that is almost zero. and we have heard from the government today assuring greeks that they will not experience more austerity, but the devil is in the details. they need to know what is happening in the way of taxes, revenue collection, all the things that the government will need to put in this proposal to meet the deficit target set out by the eurogroup stub >> is anyone talking about the possibility that the eurozone creditors could reject the proposals from greece? and then wh

erik schatzker will not be here next week. who is going to be her?ill let me ride solo. thank you for watching me. out to the newsroom, scarlet fu has more the cousins is 56 past the hour. bloomberg is "on the markets." >> you forgot to mention paul allen is sad because the seahawks did not win the super bowl. more than three hours after the january jobs report, employers in the u.s. adding more jobs than forecast in january. workers earning just as well but a fairly muted reaction inequities. dow up 38 points. the vix at 16.5, treasuries are lower. higher yields ahead of atlanta fed president janice lockhart's speech. scott, is fed speak going to trump the jobs report? >> it is really a good thing that we are finally getting back in sync. some good news in the market reacts in a positive way. the jobs report comes with so many questions about revision and temporary jobs the fed speech is what is in focus. >> the speech coming up at 12:45. we will have full coverage. you are playing on the record volatility in oil prices. oil has been up and down the

cloud, florida, erik sandoval, cbs news. >> axelrod: happy birthday glen.evening news for tonight. later on cbs "48 hours." for now, i'm jim axelrod in new york, and for all of us here at cbs news thanks for joining us and good night. captioning sponsored by cbs captioned by media access group at wgbh access.wgbh.org . >> ♪ >> slippery condition on the roadway. a car spun out on southbound 95 near the commodore barry bridge. the driver got back on the highway. this "eyewitness news" video on route 1 in chadds ford delaware county. we're told a car crashed into a pole. no word on the severity of the injuries in this accident. meteorologist kathy orr is tracking the storm and joins us now with the latest on this conditions out there. kathy. >> reporter:. >> natasha the snow is coming down at a moderate clip. it was heavier during our

we saw the story done by erik sandoval from wkmg-tv and orlando. glenn buratti'sla sixth birthday party no one showed up. >> just to see the look on his face killed me inside. >> reporter: ashley buratti, said her son, glen, who has autism, was so devastated when he found out no one was coming to his birthday party he t refused to smile. f thinking she failed him she says she turned to sphaib where she wrote post about how badly she felt for him. the post also caught the eye of als the osceola's sheriff's office who sent their own gift, a fly- over from one of the helicopters. o >> glenn smiled the whole time and waved. it was amazing. >> reporter: the county's gift rolled over to the next week when sheriff's cars, police s dogs, fire trucks and more all paid him a visit at the same time. >> at first we got to the stop sign by our house, and glenn wase, like, "the fire truck's at our house." i said, "it's okay. they're there to tell you happy birthday." y >> reporter: the deputies had also pooled their own money and bought glenn gifts. she said the

erik schatzker there from "market makers."uch more ahead including banks, bonds, and a big number. we are talking trillions of dollars. jp morgan just outlining they are expecting a lower return on equity. they have their investors date starting in moments. we will talk big banks with jim reynolds. ♪ betty: you are watching in the loop live. good morning, i'm betty liu. $2.1 trillion. that is how much commercial banks in the u.s. currently hold in the treasuries and that from several agencies. it is the largest amount since 1973 in spy of a growing economy and strong hiring data. part of that buildup has to do with the rules of holding high quality assets in the wake of the financial crisis. happening right now, jp morgan is holding its investors conference. it will be starting in a few moments. the bank is saying they presented in advance that there is no value in breaking up but that the bank will continue to cut cost to the tune of nearly three million dollars. that division has to hold more capital. still with me is my gue

cloud, florida, erik sandoval, cbs news. >> axelrod: happy birthday glen.evening news for tonight. later on cbs "48 hours." for now, i'm jim axelrod in new york, and for all of us here at cbs news thanks for joining us and good night. captioning sponsored by cbs captioned by media access group at wgbh access.wgbh.org hiiiii. hi. sorry, we're closed. what? i need help with my deposit. the bank has rules. it's really quick. i can't hear you. i promise, i'm gonna be really quick. i don't under...i can't hear you through the glass. i'll...be...quick! you'll be quick. that's what you just said? yes. i'm sorry, i can't hear you. we're closed. you know what? okay, that's... hey...sir? i just...okay. [ male announcer ] it's time to bank human again. that's why td bank has the longest hours and even stays open an extra ten minutes for when you run late. td bank. america's most convenient bank. reams of equal freedom in philadelphia, free africans had already created a more perfect union in spanish florida. join us on a 450-year journey back to the first america. and

in an interview with erik schatzker, greek finance mr.fakis says the ecb should simply hand the money to the imf. minister varoufakis: this is money that is our money. why not sadly have the two institutions make themselves find a way of transferring these funding? olivia: varoufakis also said they are showing confidence in the new proposals. he said almost $800 million returned to greek's bank accounts. hobbies a tens of millions of dollars have left. and it appears pro-russian rebels in ukraine are giving peace a chance. the government said there were no rebel attacks on its troops overnight. ukraine has accused separatist of constantly violating the cease-fire. meanwhile, the country has another problem -- the ukrainian currency has been in freefall, losing almost 50% against the dollar this year. the central bank imposed a ban on foreign currency training this week. brendan: prosecutors have charged three residents of new york city with supporting islamic state. two of the says eyes were planning to go to syria and join the terror gro

the greek finance minister has just spoken with erik schatzker in an exclusive interview. hear they are talking about whether greece will be able to make repayment. >> despite problems and the post-political of the past two months, we still have a small but nevertheless a surplus. there is no problem paying calories and pensions. there is a problem with the payment. that is why i mentioned this site. we cap i am a repayment. certain buildups before 2000 and 15 that need to be paid. we will sit down and find a efficient ways of understanding and we shall. >> now to last of charges layoffs, falling a hand currency headwinds, what is not going on at hewlett-packard? it is at critical phase trying to split into two before the end of the year. the cost could hit $2 billion. that might not include the cost of layoff. yes, there will be more layoffs. job cuts will hit 55000 by the end of the fiscal year with the ceo hinting there could be more cuts during the final process. meg whitman insist that you found is on track, even though sales thousand 13 of the past 14 years. joining

erik schatzker sat down with chambers for what i thought -- i have interview john chambers many timesthat was a great interview you had with him today. >> thank you very much. john chambers is extremely bullish. there are or there have been periods in chambers' career where he has been bullish and there have been good reasons for it, including more or less all of the 1990's which were extremely kind to cisco and its shareholders, but chambers said cisco has an opportunity today that is almost exactly like what it had back at the dawn of the 1990's, what he calls the information age, which if you think about it and what's is going accomplished ring that decade is pretty remarkable, and almost hard to believe. he is insistent upon it because he said in this digital era, things, technology is transforming at a pace that will create a class of winners, and cisco will be part of that group of winners that will divvy up almost $20 trillion in profits. you have heard that figure thrown around before. it's what he attaches to the internet of things, or the internet of everything, and there wi

welcome to "market makers i am in for erik schatzker. >> i'm alix steel, also in for erik schatzker.s hired more than 200,000 workers according to the adp payrolls report. 213,000 employees was slightly worse than estimates. a shakeup at result -- at brazil state run petrobras. a number of executives have been accused of taking bribes to award construction contracts to government employees. allie baba has gotten a jump on amazon. making its first trial drone deliveries in china. delivering tea packets to 450 customers. if amazon wants the u.s. government to speed up approval for drone tests jeff bezos this morning. >> slower than i would've anticipated. we always knew that. the faa has their hands full trying to figure out how to regulate drones. >> amazon is limited to testing remote deliveries outside of the u.s. do you want to know if your partner will cheat on you? you can check the length of his or her fingers apparently according to a new study. people with the right ring finger that is much longer than the index finger of the same hand are more likely to cheat. >> it is differ

. >> i'm out steel in for erik schatzker. what you watch on netflix?is the new black." >> season four of "friends." >> friends with jennifer aniston? >> that's old. >> you're lucky there is another hour left of the show because i'm ready to push you off it. >> what is wrong with "friends?" >> "orange is the new black is a whole new level. >> let's start with the top business stories of the morning. pfizer is beefing up its roster of generic medicine. they have agreed to by the egg's provider of injectable drugs for $17 billion. pfizer is paying $90 a share. radioshack may be just hours away from filing bankruptcy. according to people with knowledge of the talks radioshack would sell leases on as many as 2000 stores to sprint and its bigger shareholders standard general. the rest of the chains 4000 stores would be closed. you've never gotten a hotel bill like the one expedia got to stop they could omar than $800 million in tax payments for tax things. hawaii and scores of governments say they are after the money. expedia has offered -- has said tax appl

the greek finance minister spoke with bloomberg's erik schatzker.oufakis says the ecb owes greece more than $2 billion. he says that the ecb should just hand the money to the imf. yanis varoufakis: why not simply have the two institutions find it amongst themselves find it amongst themselves, a way of transferring this funding? betty: varoufakis says investors are showing confidence in the reform plans. the cease-fire may finally be taking hold in ukraine. the government says there were no attacks overnight by the pro-russian rebels. ukraine says the separatists violated the cease-fire repeatedly. kiev has another problem. ukraine's currency has fallen more than 50% against the dollar this year. the central bank banned foreign currency trading late -- last week but lifted it late yesterday. there could be a partial shutdown of homeland security if the house does not pass funding. the senate struck a deal on the budget that separates homeland from the bloc. the president spoke about it at a town hall meeting in miami. president obama: what we said to

i'm erik schatzker. welcome to "encore." what's it like to be michael dell? 2013, the billionaire ceo and founder of dell took his computer company private. this is in a $27 billion leveraged buyout.

drug ordinance and i want to thank my predecessor and david chiu for carrying the legislation and to erikar, i also want to thank my legislative aide conner johnson for his hard work on this legislation as well. my office and i have had numerous meetings with stakeholders over the last few months and we have added some important amendments as a result of the conversations. we have further clarified that retailers are not obligated to participate in collecting -- collection programs though we obviously will encourage them to do so and some seem very interested in participating. we have refined the definition of manufacturers, wholesalers and copackers to make it clear that extended producer responsibility refers to the producer, the party that actually originally created the drug. we expanded the programs availability to non englanderish -- english supporters. so we added a requirement for all city operated pharmacies to par tas -- participate in the take back program. i don't know if i worked an issue with an impressive coalition of supporters that includes the san francisco police depart

i'm erik schatzker. welcome to "encore." larry fink delivered a sobering message at davos. to expect great volatility. wise words indeed. we went t

and it has inside of it, erik, tiny hairs which vibrate. and they transmit to the brain hearing sounds. now, they die with that tsunami coming in that he is talking about, with that sounds. they die from aging, they die from medication. and humans cannot regenerate then. animals can. humans can't. what do we do. >> we use heir hearing aids, a $10 million industry. nobody is ever happy with the way they work. nobody. they don't like how they look, the stigma, they don't like they can't separate the crowd noise from what we are saying. we have coclear implants that replace the snail inside the ear. no one is happy with that. now there is a genetic therapy, they take a harmless virus, they put a gene on it and inject it into the inner ear and regrow the hair cells. it worked in animals. looks like it's going to work in humans. to answer your question, five years dbs -- one other final point i want to make, the problem with that treatment is it washes out of your ear. you can keep it for long. critics say, fine, it will work for two weeks. then

erik hansen is with the u.s. travel association. give me an idea of some of the different ripple effects that happen. >> flights are canceled, you'll have missed business meetings, so that's a missed opportunity for a sale. you'll have missed reservation at a restaurant. you'll also have missed hotel bookings, where people aren't going to show up. >> reporter: the travel association estimates that each canceled domestic flight costs about $31,600 in lost economic activity. that means last week's blizzardns with 7,300 cancellations cost the economy $230 million. with more than 6,300 canceled flights from this week's storm so far, that's another $193 million. and with the need to plow runways and de-ice planes, this weather also results in more flight delays than usual. each hour of delay costs the economy $3,300. major storms, of course, disrupt much more than airline travel. the economy takes an even bigger hit from missed work days. a preliminary report by moody's analytics says the overall economic impact of last week's blizzard w

greg bloomberg's erik schatzker good morning. what seems to be the thought in athens today?> good morning. the reaction here, better, quite honestly, than i anticipated. we arrived in athens yesterday, and i thought we would your cries of betrayal given what we know to be true. we know they were able to win very little concessions would be group that went to the 11th hour on friday, and though you might anticipate, of course, the three the party and government -- the party in charge of the government they might be feeling, as i said, betrayal that the promises are unfulfilled. yet, it takes so little to make progress in this country. it is difficult to under and from the outside just how tough the terms of a rarity had in greece. terms of austerity perhaps more so with terms of inflated mid. that is what the greek people feel, and that is why concessions like no longer using detroit to come aboard level like no longer feeling -- referring to a professional program, some feel that the prime minister and others have actually made it stand to progress even if on paper there is

this is "market makers," with erik schatzker and stephanie ruhle. >> the battle lines are drawn.ermany warns there will be no new bailout deal. while greece's prime minister warns he will not condemn his people more economic pain. from breakup to make up, should cbs and by come get back together again? we will talk to a shareholder who is pushing for a reunion. kanye west hopes his new adidas sneakers -- hopes the new shoe fits. his new adidas shoes go on sale. welcome to "market makers." >> and i'm joe weisenthal. in for joe today. >> we have a lot to cover. we have to cover greece. the top business stories from around the world. the winner john lohan has joined the board of lions gate entertainment in a stock swap deal. lions gate is the studio that produced the multibillion-dollar hunger games movies. the company is giving malone and his affiliates at 3% stake. in return, lions gate will get 14% of the voting power and malone's starz tv network. time warner has beat profit estimates for the 24th quarter in a row. fees for its cable channels and hbo help offset a drop in advert

erik schatzker sat down with chambers. i have interviewed him many times.hat was a great interview. >> thank you very much. he is extremely bullish -- there have been periods in his career where he has been bullish and good reasons for it, including all of the 1990's. but chambers said cisco has an opportunity today that is almost exactly like what it had back at the dawn of the 1990's, what he calls the information age. what cisco accomplished during that decade is pretty remarkable and almost hard to believe. he says in this digital era, technology is transforming at a pace that will create a class of winners and cisco will be part of that group of winners that will divvy up $20 trillion in profits. it's what he attaches to the internet of things or the internet of everything. there will be a class of losers as well. here is john chambers on what he thinks it will take to survive in this digital era. >> let's assume this is the digital era. in terms of how every company adjusts to that, it will require drastically faster movement. those companies who don'