it shows that the roof top crane is 2.4 $8 million [inaudible] estimates. the temporary facilities $1 million below and elevates 2.9 seven and escalators -- [inaudible] and the mitigation is $2.5 million over what we anticipated at this point. the chart that we shared with you. this is a chart that we shared with you as sth of mitigation if we stay on average within the estimate. it shows that the remaining reserves would be $15 million -- [inaudible] and the remaining construction contingency which is addition to the construction contingency and the [inaudible] would be $72 million, 72 and a fraction so right now we're off target by 2.5 million dollars. the assumption is if we're within the estimates on the award of the project we would have $50 million in reserves left and $72 million in construction contingency left. >> so if i may? i guess so you're looking first of all at the sum of the value of the five packages relative to the estimate, but if you look relative to the budget and we're working from an approved budget from last year this is -- these ar

estimate of 10 billion over the next 30 years. that is 60% higher than the one offered by the agencies of her majesty's government. but it came over the last few days. so i consulted professor alec kemp he is website, and i've got it here. that is absolutely correct. he and his research partner have conducted substantial modeling for future production of oil and gas. he says if target and tax incentive were reduced, it could increase to 15 billion barrels of oil quintavious harrow leapt. it goes further. but there is potential for further develop after 2050. they found in the year 2050, no less than 25 existing known discoveries remain undeveloped. >> order. let's hear the first minister. >> and finishes, thus the ultimate potential of 24 billion barrels of oil equivalent appears plausible. so now we have a point of agreement. 16.5 billion to 2050, and 24 billion barrels as the total value. that is a lot of billions of barrels, and scotland should welcome it. [applause] >> well, that will give a lot of confidence to people. becaus

based upon re- estimation. so we really won't know the full cost of the credit until they have had time to mature. >> i want to agree with that. i was careful to say in the comments is that under the rules that congress has legislated at the we, of course, follow the ex-im bank in the negative subsidy scam we've also said a number of times including just recent report, that we think a more comprehensive way to measure the cost of credit programs which of ex-im bank is having a positive subsidy cost. that's not the way it is recorded in the budget now. >> thank you for the verification. >> just so it's clear, a negative subsidy needs we transfer your we make extra money if we don't use and it goes to the taxpayers for deficit reduction. that's what a negative subsidy needs. so we transferred, this year, over a billion dollars. last year $800 million. since federal credit reform in 92, it's $6.6 billion have gone from the bank to the treasury. if i could add one less thing. i know our time is limited. the financi

it was higher than estimated.y earnings, a little bit of a different type of measure. a month over month showing no change at all. by that measure it has been anemic. inflation,ok at wage what do you look at since that other number seems to us to have spooked the market yak ? >> it is really a question of does labor have pricing power? procter & gamble reported this morning, they had a million applicants to fill 3000 jobs. simply put, we do not have broad-based wage inflation. we talked accompanies all over the world, guest some companies are having difficulty finding skilled engineers or construction workers. but broadly across the economy, there is no wage inflation which will keep the fed on hold. yellen once 3% average hourly earnings not 2%. bondsill keep on -- in check and attractive. >> i know that bill gross has outlined his views on the economy. the fed will stay pat. any moment we will be talking with the labor secretary. overall we are seeing a number of men for the overall economy. we are seeing jobs c

called nester --net income is missed estimates. analyst estimating 83 million.lyst expert dating 1.5 billion. and weis in the news will be asking the ceo all about that. the company has service stations in russia as well. this is a company that focuses on oil refining, oil retail, and renewable fuels as well. it is operating profit is likely to be in the lower end of its guidance range. it is mild profit warning. we will speak to the ceo and get reactions to those results. we will talk to them 7:30 a.m. london time -- london time. intercontinental numbers. joining us for his first interview is the ceo, richard solomons. he joins us live. thank you very much for joining us this morning. just looking at the numbers -- and looks like it is just below are the analysts were looking for in terms of revenue per available room, 520%. the market was looking for 6%. talk me through these numbers. >> i think it is pretty close to 6%. have seen quarter, we good momentum, quite a lot of growth. the u.s. was slightly above 6%. u.k. actually over 8% so good momentum. we signed

treasury is missing a mountain of black gold. , and 24 billion figure industry estimate.t has been used by many people. out of you have pointed that that is up to 2050. there is more to come. on the question of the health withce, how about agreeing unison, the union? they cannot run down and privatize our nhs the way they are doing in england. what they can do is cut back on formoney for the swedish -- the scottish government and putting the government under pressure. union. the and then there is the question about who is to blame. davidson's comments only this week. he identified that labor's failures were the reason for the mp's success. it is more to do with the failures of the labour party, the lack of modernization. argument was that scottish forces moved from glasgow to the new town of scotland. want thehem did not tammany hall politics of labor. [applause] >> order. order. >> i am able to quote that -- ian davidson. the labour party of scotland do not have a plan a, never mind a plan b. [applause] >> order. the order. >> thank you. to ask the first minister when yo

economy grew more in the second quarter than first estimated.he commerce department reports of gross domestic product rose at a 4.2% annualized rate, up from an initial estimate of 4%. michelle girard is the chief economist at rbs securities. she is with me from stamford, connecticut. good to see you again. you do not believe the gdp number radically alters the growth profile for the second quarter. why not? change ins not much terms of growth with the exception of maybe investment was better. overall, the takeaway was the same as it had been before. aerybody is excited to see four handle on second-quarter growth. a lot of people have forgotten that it follows a contraction of over 2% in the first quarter and i don't think you can dismiss that. quarterske the two together, the economy grew only 1% in the first half, and that is disappointing. admittedly, the question is where we go from here. startings a great point, but i'm not sure we will be able to sustain that pace as you look ahead to the third and fourth quarters. >> you just alluded to t

it looks like they beat estimates. does and we will look at their global strategy as germany moves towards renewables. itkulik the data and you see japanese hopping -- gdp dropping the most since 2011. futures are higher. the dax pushing forward from .6%. toi am going to go back dollar-sterling. i think that is where the action will be. you see here at 1.6824. where we were when mark

much higher than the market had estimated.d and it is the biggest rock that we have seen in almost a month. traders changing their view on the potential of a rate cut from the reserve bank of austria. yesterday it was 16%. the risk races to 36%. above the u.s. for the first time at 2007. dollarly in this aussie -dollar trade is still an opportunity for you to sell. if you ever see that level again. this is the best performing currency this year. let's look at emerging-market currencies. you have dollar rand falling. the pmi underperforming in south africa. us -- he said the tide is terming -- turning on emerging market currencies. also the ruble and the peso. this is a mini wobble potentially. the only thing that changes the difference between a decline to an exit this in currencies is volatility in that is rising. >> here are today's top headlines. russian fans billions of dollars of food from the u.s. and the eu. resident vladimir putin has ordered restrictions on food and agricultural imports for one year from countries tha

that is a little bit below estimates. slightly below estimates all in all. clearly the miss against expectations lies somewhere outside of germany. let's check how that is impacting on the euro. we are not far right now. 1.3268. you can see the oscillations in trade around that french data which was mixed to negative and that german data which was better on all counts. details from our international correspondent, hans nichols. storye been watching this all morning. just to recap, that composite number on pmi for the eurozone has come in at 52.8. way theis is in a reverse of a story where we had gdp numbers late last week where you saw the german economy contracted a little bit more than was expected. today, the numbers are that germany is doing a little better than expected. it is still getting awfully close to that 50 number. anything above 50 signals expansion. you look at where pmi was three or four months ago. pre-ukrainian crisis. it was in the mid-50's. on both manufacturing and services. use all the fourth straight month for declines for french manuf

now that preliminary estimate of $300 million in damage is just an early estimate. it's expected that it could go as high as a billion dollars. live in napa, nannette miranda, "today in the bay." >> thank you. >>> it could still be days or weeks before the obama administration decides whether to send federal funds to napa. congressman mike thompson says he expects help top arrive soon. >> at the federal level, we're working from day one on sunday, fema had folks on the ground, both in napa and in vallejo. they continue to be here today. they're out assessing the damages today. >> officials say it can be tougher to assess the losses after an earthquake than any other disaster. the damage is often found beneath the road or a building days or weeks larts. >>> now for complete coverage of the quake, head to nbcbayarea.com. you can find an interactive map there as well as information about debris dropoff sites. that's nbcbayarea.com. >>> 5:36 right now, let's turn to our microclimate forecast as we give you a live look at san jose this morning. and i don't know, i'm thin

accelormittal has posted estimates that missed analyst estimates.he steelmaker had to lower its outlook as the price of iron ore continues to decline. the company is trying to reduce borrowing after its credit rating was cut by moody's, s&p and fitch. trailedsales growth analyst estimates in the second quarter. for cited sluggish demand maybelline makeup and other consumer products in the united states. l'oreal expects growth to remain solid in western europe. we like to look good. still to come, how to customize your car. a new company helping personalize your sports car. some amazing requests made of how to pimp out a bentley for instance. ♪ >> welcome back. you are watching "the pulse." we are live on bloomberg tv. let's get on the markets now. market action this morning in stocks. let's go to our markets editor, manus cranny. >> these equities, the beginning of a new month. we are down for the third month as we stand at the moment. we are at three-month lows. volumes higher than an average daily volume. theimpact from russia and ukraine in terms

a biotech company making enzymes missed on estimates as morning. we have an operator in europe that is up and that is reporting an 89% increase in profit. i know you are talking to the chief executive soon. >> i am and i am excited about it. here are the top headlines. french and german gdp misses forecasts. they are getting no growth. they abandoned the deficit target. not a shock. the aggregate reading in the getting has not many their hopes up about that. urging members to abandon the current prime minister and backed the president's nominee. insist that the attempts to replace them are legal. the country says that they are ready to accept a russian shipment where pro-russian separatists are surrounded by troops. it will be delivered by international red cross. the u.s. in the eu warned not to use it as a pretext as -- for innovation. there is a european company looking for americans. biotechiance unit and a company may be snatched up. here is more. let's kick off with ge and the appliance unit. >> this is about the chief intotive trying to turn

that was below the estimates of 51.5. you are seeing the officer dollar trading lower and iron ore is on the low for 2014. >> these are the bloomberg headlines. theasing the minutes from last meeting showing members of the federal open market committee are increasingly uncomfortable with the central banks forward guidance because labor markets are improving. many members believe they might borrowing costs sooner than anticipated. purchasingnary managers index was at 50.3. china will miss its growth target this year and germany is reversing a post-world war ii arms doctrine. iraq.g arms to approved armsers for kurdish forces. from.k. from mr. returned his vacation early to discuss the response and french officials met to weigh their options. largest chipmaker make a by four $5 billion. hans nichols joins us from berlin. will do theed they deal. what is power management, fill me in. everything from automotive to satellite. you have these semiconductors and these devices and what they really get is the low-power chips. these

most estimates use the range from three to seven years but this is a worst-case estimate. these are estimates assuming iran decides immediately rebuild and doesn't encounter significant obstacles. if you start asem politics and geopolitics happened the timeline becomes longer. one of the things i talk about in the book is a look at the four countries historically who have had nuclear facilities attacked in nazi germany during world war ii iran had its nuclear facilities attacked iraq at its facilities attacked and the israelis followed up with a strike of their own in the united states and the coalition followed up with tricks of their own. in 2007 had its nuclear reactor attack from israel. one of the things i point out is in all those cases the countries conducting the attack thought they had limited amount of time but in every case of unforeseen events that were completely unimaginable at the time came to pass that prevented them from developing nuclear weapons and of those countries have a nuclear weapon today. at a minimum the strike would buy a few years but i think

fourth-quarter sales and profit beat analyst estimates. the introduction of new products is starting to boost sales. profit came in $.55 per share versus the projection of $.53. shares of seaworld entertainment in the regular session fell to a 33%.d low fell nearly the latest analyst earnings missed estimates. theme park sales also hurt attendance. the decline as much as seven percent of the year. in anckman raising money ipo this year. more firepower to invest. this offering would enable the hedge fund pershing square capital management to raise funds that could be fully invested and not at risk of investor redemption. those are the top headlines. back to you. >> thank you. now to the latest on gaza. getting word hamas has agreed to accept a 72 hour extension of the cease fire agreement that would have expired at this hour with israel according to tv in gaza. the latest that you are hearing on negotiations and reports of rocket fire this evening? >> good. the palestinian representative in cairo, the main negotiators speaking a few moments

thyssen krupp beat estimates.e money as its previously unprofitable american unit ajustd earnings nearly triple in the last quarter and beat analysts. in may, thyssenkrupp posted a profit. and airbus a-350 has ended tests this. paves the way for the first delivery of the plane to qatar airways later this year. the trials have lasted 14 months. the final flight from helsinki completed a three-week tour with a test plane visiting 14 destinations. qatar airlines is the largest economy with 80 on order. and r.w.e. has turned to a loss in the second quarter. a surge in clean energy power generation hit prices. r.w. september germany's biggest producer of electricity. we'll be speaking to the c.f.o. in around 10 minutes' time. and as we head to break, let's get today's pulse number for you, $11 million. that's the price of the world's most expensive watch. the henry graves super complication was made in 1933 and has been called the holy grail of watches. it's the most complicated time piece ever to be constructed entire

it eat estimates by one penny -- beat estimates by one penny. dollar general has offered $9.1 billion for family dollar, making it a bidding war. and president obama's inking this afternoon about address the latest developments on iraq. >> with our support they've recaptured the largest dam in iraq. it fell under terrorist control earlier this month, and is directly tied to our objective of the americans in iraq. >> they will continue limited airstrikes against the militants. >> thank you. president obama mentioned that dam, which is considered a critical infrastructure project. what is the latest information that we have on the attempts to secure that? >> there were more u.s. airstrikes there today, that dam is now under our control. -- allies control. that was part of authorized strikes and humanitarian efforts. this seems to be an offense of airstrike. >> what has been the economic effects on the region because of those continued conflict and turmoil and violence? >> one of the major fact there's has been refugee problem. there've been 600,00

most estimates use the range from three to seven years but this is a worst-case estimate. these are estimates assuming iran decides immediately rebuild and doesn't encounter significant obstacles. if you start asem politics and geopolitics happened the timeline becomes longer. one of the things i talk about in the book is a look at the four countries historically who have had nuclear facilities attacked in nazi germany during world war ii iran had its nuclear facilities attacked iraq at its facilities attacked and the israelis followed up with a strike of their own in the united states and the coalition followed up with tricks of their own. in 2007 had its nuclear reactor attack from israel. one of the things i point out is in all those cases the countries conducting the attack thought they had limited amount of time but in every case of unforeseen events that were completely unimaginable at the time came to pass that prevented them from developing nuclear weapons and of those countries have a nuclear weapon today. at a minimum the strike would buy a few years but i think

primarily due to 10.1 increase in the projected city planning assets and 4.6 million increase in estimated favorable claims experience in the self-insured dental plan. and other factors that contributing to the 12.8 million are associated with unfavorable claims in the blue shield flex fund and increase in the estimated net, and medical and hmo insurance and premium revenues and surplus of sf as and reductions over claims and the estimated increase in the 205 budget and the increase for interest, and performance guarantee and the forfeit turs played by blue shield and the reduction of the transfers into the general fund, in terms of the general fund, and administrative budget, based on the results of the first eleven months, this is again, is the fact that we are equally included at this point to 12 months, but the things bounce around a little bit and there is a balance of 908,000 dollars for the end of the year and now this is really unprecedented. don't get excited that we will not have this next this current fiscal year. we have had a significant amount of hires that were delayed, and

for those 5 artists the difference between what they pay and their estimated rent adds up to full subsidy less than $19,000. so while we have no operating subsidy to assist with that star has committed to precise try to raise the funds to support of the artists. the fund star raises will help that will be for the solar panels to assist with the affordability of the building and i'm going to turn it over to star representative to talk about this >> good afternoon. my name is is marty i'm the president of the shipyard we call ourselves star. star does not have a fundraising history we're an advocate organization so we're embarking on a new venture we've supported ourselves and get one contribution through the tidas foundation so we're on new ground here but our goal is to make sure none of the artists get left behind we have a board that supports this endeavor so the solar is the biggest monetary component. the solar is projected depends upon the system and use to save this is based on two quotes from solar installation companies both in the city and both in the district 10. the solar savin

the wine makers estimate their losses at $100,000. but there was a silver lining for this winery and many others. >> two, three weeks before harvest and a lot of the tanks were empty. >> wine makers say they will be busy getting cleaned up. it is too soon to estimate damage but 80% of wineries were effected by the quake. >> we have been focusing on napa because they suffered most of the damage but not all of the damage. vallejo was also hit hard. 7 buildings red tags and one of the problem areas is a church in danger of collapsing. allie rasmus has more on that. >> reporter: from falling bricks to shattered glass, 15 inspectors and engineers are working to assess the damage, a process they could take two weeks. >> residents and businesses are continuing to call us with issues as they discover them. particularly this morning. as people came back to their business places and recognized something wasn't right. >> reporter: that is what happened at the first baptist church. no one noticed the bell tower was in danger of collapsing. >> we

the previous estimate was about 6.25%. our minimum wage requirements in the u.k. reducing demand for labor? >> i don't think there is much evidence that the minimum wage actually reduces the demand for labor. there is work done in the united states that is matched by working the u.k.. gnome wagel that the is at, there hasn't been much impact. ,- that the minimum wage is at there hasn't been much impact. there is a lot of people who would like jobs and they are prepared to take them at low wage rates. i don't think you can really argue that minimum wage is what is doing it when you have this enormous flow, and that is the thing pushing down on wages. i don't think it is the minimum wage. >> talk to me about the challenges the u.k. faces, the global economic recovery. >> it has a big problem. if you look back at the shop we the economy needed to rebalance the way for financial services towards exports. the worry is what do you do when the next shop comes along -- next shock comes along. that the economy has not rebalanced and it will have a big shock. danny, always

now the estimate is 5,400. it's 130,000 is the last estimate of the u.n., and they are not estimating anymore. you can't do it anymore. he can't get a correct number. the people there will say we think it's about a hundred and 50,000. but there were being killed. and then in iran when there was this marvelous demonstration of the people against ayatollah, the placards said you are either for us or for them. we did nothing. you may remember that crow who was killed on the street, blood coming out of her mouth we had an opportunity to do something for some awfully good people, awfully good people in syria. >> host: would you have sent troops? >> guest: i would never say we should not send troops. i think he is already made that mistake regarding ukraine. no boost -- he will say everything is on the table. two sentences later no boots on the ground. most people say, yeah, that's right. no, it is not right to say it. if you by the commander in chief, be quiet about anything you're not thinking of doing or even what

figures easily beat estimates to a one percent drop in profit. he says he is open to partnerships and deals but one thing he's not interested in is acquiring a company to save money on taxes. >> it is not something i spend any time thinking about. is, once you start talking about taxes, for a company like ours focused on a marketplace, our job has to be to focus on consumers and customers. our business at our stage right now, the thing we are focused on is providing great services to consumers and customers. >> we will hear more from tim armstrong in just a few moments on what he thinks of rupert murdoch walking away from that bid for time warner. one company decided against moving its headquarters overseas , planning to buy for $15 -- $15 billion. the company says it will not move its address abroad. scarlet fu has the details. scarlett, what happened here? >> blame it on politics. wall street came under a lot of political pressure. a democrat from illinois sending a letter to the wall street ceo informing him it would be a very bad moves in ter

they later raised the estimate of the maximum height. officials acre cemented the revised projections. but at a meeting on thursday, participants learned that they entered incorrect data concerning the potential length of the landslide. analysts say the results of the recalculations might force planners to rethink how they would respond to potential disasters. the process could delay completion of the tsunami wall at the plant. >>> leaders in sierra leone declared a state of an emergency to contain an outbreak of ebola. they mobilized police to quarantine areas where the disease was found. residents of guinea saw signs of the outbreak in march. then the virus spread to sierra leone and liberia. officials with the world health organization say 729 deaths have been directly associated. 233 people have died from the virus. president earnest said his country is in a great fight. he announced a series of measures expected to last 60 to 90 days. >>> government officials will seal off areas where the disease has been identified, restrict public

he estimate sure they can buy groceries and he watches it closely.t is too early to say that this is inflationary and it is something that people will be watching. it is interesting to see what is on the list. we arty no that wine is not on the list and it is one of those things you cannot substitute in russia. there is russian wine out there and there is not an awful lot that you cannot replace today, except for one. we'll have to see how huge an impact this has on the economy. >> i will leave you with that. markets talk about the politics secure.a and he is nobody can really tell you what he's going to do that. .y question to you is this >> you need to look the fundamentals and see what is going on. estimates range of and they are likely to be small at the margins. we have seen soft numbers out of germany and that is interesting. in part, they have put in place in septemberolicy and december. they will look at the impact not do anything dramatic. if we still have a weakness, it is on the table and it is still an issue. >>. about the program. it is

income disparity has also contributed to the s&p cutting its economic growth estimate over the next ten years. >> but despite the uneven recovery in housing, americans are still buying homes and core logic says the prices rose again in june up nationwide an average of 7.5% but the prices rose by the smallest year over year increase in 20 months. slowed down by a modest number of sales and more homes coming on the market. >> that's my house for sale, no. >>> coach catches a break in earnings that topped estimates and that's where we begin tonight's market focus. the sales better than expected for the first time in four quarters helped by strong demand in international markets, especially china. the cost and expenses increased. shares popped 4% to $35.80 for coach. >>> toyota earnings got a boost while sales in emerging markets were weak. the auto maker cut the forecast for 2014. shares were slightly higher, 11.0 -- $119.03 was the close there. >>> office depot is benefitting from the merge with officemax. earnings and revenue did beat the expected. it finished at $4.94. >>> groupon daily

estimate. his he says that up to 18.5 billion barrels. in financial terms, that is 1 trillion pounds. it is a lot of billions, a lot of money. the tory party, the labour party, the only people in the world, who argue the position of substantial amounts of oil and gas is somehow a curse, as opposed to an asset. every other country in the world - [indiscernible] [applause] >> we're approaching the wholesale value of oil. what the government should get to --x and it should go >> [indiscernible] >> the north sea has been a colossal boon to this country for 40 years. what you come away from this is once it is gone, it is gone. every barrel we take out of the north sea is one barrel less. last year you lost more revenues than you spent on the schools in scotland. >> [indiscernible] >> it is the key that your own government forecasts have been downgraded by a billion pounds for the first year of independence. this is a volatile resource which would be more important to the economy as an independent scotland. don't you feel it's a risk? >> let's

it is estimated that it affected 30 customers. this is one of them. >> cars attempt to drive through course of a over a half an hour. i would say it was shooting geysers throughout the road. >> there is no way to know how long it will be before it gets fixed. they will end up staying somewhere else overnight. told that this is a 73-year-old pipe that burst and it affected a number of customers. most are businesses in the area. they are rerouting traffic. burkett, abc seven >> thank you for that. hi its burkett, abc seven. >> thank you for that. a bill addressing the problem of unaccompanied minors died in the senate. it needed 60 votes. ause republicans countered pivotal votes. the senate gave final approval to the $16.3 billion plan to ease health-care delays at the veteran affairs department. a federal highway and mass transit aid. are heading to the president's desk. >> people are dead and 270 injured in explosions that sent concrete flying through the air. it happened in an area where petrol companies operate pipelines. we wil

. >> it is an estimate of loss of economic growth in those three affected countries. >> the early estimates-- for example, in guinea, we think it will drop a full percentage point, which means a 20% of growth. >> gdp will be 1% less than it would have been without it. >> that is right. a 20% to 25% gdp reduction in guinea. we hope this does not affect the way people see africa. it could have happened anywhere. are being so aggressive is that we want to send a message that these are problems that are tractable. we can take care of them and get them under control. and we can build a new structure to prevent it in the future. >> can i get your idea on of the losses in the other countries? >> we do not yet know those numbers in that region. >> why? >> it's still very early in the epidemic. the quality of the data in these affected states is difficult to assure, at best. in these kinds of situations, it even more difficult. >> part of what i'm hearing is that one of the successes of this summit is that everyone thinks that africa, a multiplicity of countries, where somebody could be isolated in

profits beat estimates.oreign exchange gains have second quarter profit surge more than six-fold from a year ago. the c.e.o. has expanded the carrier to india, japan and much of southeast asia. growth is nabling more people there to fly. shares lower after a very rough first half. net profit down 52% from a year ago. sales down 2.5%. the multimedia company cut their 2014 outlook. a record settlement for bank of america could be anowsed as soon as today. that is according to people familiar with the deal. the bank will reportedly pay $17 billion. up next, after that rather hawkish federal reserve set of minutes we go to jackson hole ahead of the u.s. central bank's meeting. we'll teel tell you what you need to watch ahead of janet yellen's said to be very dovish speech. we'll be back in two. ♪ >> welcome back to move. i'm jonathan ferro. europe's headquarters in london. here is a picture of the markets. equities keeping their head above water if you're looking at the ftse, lower by an inch. german p.m.i.'s, m

estimate of 10 billion over the next 30 years. that is 60% higher than the one offered by the agencies of her majesty's government. but it came over the last few days. so i consulted professor alec kemp he is website, and i've got it here. that is absolutely correct. he and his research partner have conducted substantial modeling for future production of oil and gas. he says if target and tax incentive were reduced, it could increase to 15 billion barrels of oil quintavious harrow leapt. it goes further. but there is potential for further develop after 2050. they found in the year 2050, no less than 25 existing known discoveries remain undeveloped. >> order. let's hear the first minister. >> and finishes, thus the ultimate potential of 24 billion barrels of oil equivalent appears plausible. so now we have a point of agreement. 16.5 billion to 2050, and 24 billion barrels as the total value. that is a lot of billions of barrels, and scotland should welcome it. [applause] >> well, that will give a lot of confidence to people. becaus

these estimates are starting to take shape "real money"'s ali velshi, estimates of 3 to 4 billion? >> i heard estimates of 6 billion. let's stay with the sticking points, the palestinians want the end to the air land and sea blockade. but the palestinian are resolution is met with silence from israel. rehabilitate gaza under international exprftion say it's allowing civilian shipping into gaza's port which is also badly damaged but route it through an inspection facilities in sy cypress. the proposal is in its early stages. in the meantime damage is substantial. initial reconstruction estimates from the palestinian authority are running as i said some estimates at about $6 billion, david the number of people displaced by the fighting, 520,000 so far and electricity is being rationed because that power plant has been bombed. so lots of work on rebuilding gaza. >> ali velshi will have much on that at are 7:00. ali, are appreciation as always. >>> islamic state fighters in northern iraq coming up, the latest efforts to send in humanitarian aid and how the u.s. military could be involv

the company earned 89 cents a share right in line with analysts estimates. revenues came in slightly better than expected at nearly $28 billion thanks to the strong pc sales but sales in other units didn't do as well. the stock initially rose in after hours trading only to fall back. >>> still ahead, is there a bubble brewing in the subprime auto loan industry. details of a new report, next. >>> hertz is in a world of hurt today. it's withdrawing the full year forecast and expects 2014 results to be well below the previous estimates because of accounting irregularities and massive recowels from gm and ford. the recalls are hurting hertz' ability to have cars available for customers. despite that, maybe because of it, carl icahn has taken an 8.5% stake in the company according to a regulatory filing calling the stock under valued and that lifted shares from a big, big slump, still the stock finished lower by almost 4%. >>> a new report says americans are having more problems making their monthly car payments. and many of those making late payments or no payme

the subscriber topped estimates. talked with my colleague, emily chang, about the future of the company. >> you know, i have said many times, there are multiple players, multiple options for the company. i'm not going to comment on any specific one. you can figure out, how do you get scales, how do you get spectrum, how do you get capital? one way is to move aggressively. and then various accelerants access. -- exist. you should be clear. there is great interest in t-mobile. we will consider any option that exists for the shareholders. >> that was like the foreshadowing tease of the century. various options for the company, accelerators -- for more on what those accelerators might be, michael maccormack is here. michael, do they need accelerants? do they need capital to build up this network? >> a lot of people question why not organically. they have been doing a great job on taking share. sprint has been a donor for the entire industry. from a cash perspective, they are sort of hampered right now given some of the p

now the estimate isn't 5,400. it's 130,000, is the last estimate of the u.n., and they're not estimating anymore, because they just say you can't do it anymore, you can't -- you can't get a correct number. the people there will say we think it's about 150,000. but they were being killed. and then in iran, when there was this marvelous demonstration of the people against the ayatollah ko and you may remember the girl who was killed on the street, blood coming out of her mouth, and we had an opportunity to do something for some awfully good people in iran, awfully good people in syria, and we didn't. >> would you have sent troops? >> i would never say we shouldn't -- he's already made that mistake regarding ukraine. no boots -- he'll say everything is on the table, two sentences later, no boots on the ground. and most people say, yeah, that's right. no, it isn't right to say it. if you're the commander in chief, be quiet about anything you're not thinking of doing or even what you're thinking of doing. he has done s

in the third quarter, the highest earnings per share in the company's history beating wall street estimates. $12.5 billion revenue topped the forecast with a gain from the studio division. "frozen" was the highest animated film ever with strong results from parks and resort. shares were initially higher in after hours trading. julia boorstin spoke with bob and has the take away. >> reporter: disney's results on a range of the businesses, especially the movie division on the strengths of the "marvel" franchise. >> the marvel brand has arrived and healthy and "captain america three" and we just announced a 2013. >> reporter: what drove the parks division higher, up 8% while operating up 23% due to a combination of increased guest spending and higher attendance. >>> new day, different direction, the markets wiped out all of yesterday's gains and then some on worries strong economic data might jolt federal reserve policy and jitters about escalate tensions on the boarder between ukraine and russia. despite little other news, all the major averages began lower and sold off very sharply mid sessi

they estimate it was 10 to 15 feet long. no one was hurt. >> everyone just came out and said, get out of the water. >> she came in screaming. she was saying, the shark is in the water. get out of the water. don't get in. everyone was freaking out. the whole beach cleared immediately. >> reporter: last week, four other great whites were seen off the coast about 40 miles south of here. the incidents reminding many about the ultimate shark story set in massachusetts. >> you will need a bigger boat. >> reporter: a witty beach going proving life imitates art. >>> from delaware, the board that oversees the ksh portfolio will have more money to work with. the governor will sign legislation authorizing the cash management board to handle according associated with the land and with aer to conservation fund and parks fund. it will would allow funds for open space protection and local outdoor recreation, park and trail projects. >>> nearly 200 flood prone homes in north jersey could get a buyout. officials have approved buyouts for the

it looks like they beat estimates. we will see what the stock does and we will look at their global strategy as germany moves towards renewables. itkulik the data and you see japanese hopping -- gdp dropping the most since 2011. futures are higher. the dax pushing forward from .6%. toi am going to go back dollar-sterling. i think that is where the action will be. you see here at 1.6824. where we were when mark carney went to the mansion house and said you guys don't understand risk. get ready for more. i think that is where most of the action is. as for the rising equity markets, i think it comes down to the progression of a convoy. ryan chilcote will take you through that. are we facing a de-escalation in terms of geopolitical risk? i am not saying it is binary. it is darn important. the relationship between europe and russia is one of the ultimate driving forces of confidence in germany, of trade with europe. we batted away the fact that in china, new credit plunges. the weakest in 24 years. he saw the shanghai index

the state estimates that 33,000 prisoners there are mentally ill. here in new york city, the medical examiner said a 43- year-old man who appeared to have been placed in a chokehold by police was the victim of a homicide. the officers had arrested eric garner for allegedly selling bootleg cigarettes on the street. an autopsy found that garner's poor overall health contributed to his death but was not the primary cause. the officer involved was stripped of his gun and taken off of street duty but has not been criminally charged. >> sreenivasan: in the coming days, the senate intelligence committee will release a declassified version of a 6,000- page report examining the c.i.a.'s rendition, detention and interrogation program. yesterday, anticipating the report, the president said, quoting now: "we tortured some folks. we did some things that were contrary to our values." for more, we are joined tonight from washington by siobhan gorman. she is the intelligence correspondent for the "wall street journal." so what is likely to be in this report that th