homm is accused of buying funds among penny stocks and trading among themselves in order to generateore for the company. the scheme cost investors more than $200 million in losses. he hasn't been hiding out the whole time. he published a book last year. proving there's no such thing as bad attention. >>> job cuts fears have been raised at richard branson's firm the atlantic. the memo's author, new chief executive craig keyinger warnings performance is currently well behind what was forecast. a mediator has suggested iberia lay off more than 3 thus employee webs but it's still about 700 less than initially called for. >>> still ahead on the program, japan marking the anniversary of the devastating earthquake and tsunami that led to the fukushima disaster. we'll head out to tokyo to take a look at the economic landscape two years on. here is a look at the traffic light. see how european markets are trading. we are down almost 0.2% on the stoxx europe 600. can u.s. futures turn things around? we'll be right back. today is gonna be an important day for us. you ready? we wanna be our brot

. >>> and german hedge fund manager floria homm has been arrested on charges in the united states of fraud. he's accused of orchestrating a market manipulation scheme to the improves the performance of his fund. the alleged fraud led to at least $200 million in loss for investors. he has been on the run in five years. >>> and the paper trace reportedly going cold in the s&p. the s&p tried to clamp down loose talk on e-mails and other note taking as early as 2005. this may make the case harder as signs of distress began appearing in the mortgage securities market. s&p executives are is said to have begun advising analysts responsible for rating mortgage bonds to put the phrase privileged and confidential on e-mails to one another. >> does that matter? if you put confidential like you can't have it now? gotcha. >> i can't imagine that does it. i think basically you stop sending -- >> stuff out? >> at goldman sachs they used to write ldl. and that means let's discuss live which meant let's never put this in e-mail. >> do you remember the phrase somebody said to me once where i think we