fraud office will accuse former traders and brokers from major banks including ubs, citigroup, and hsbc of rigging the london interbank-offered rate, or libor. in a separate suit, evidence shows barclays employees knew of the alleged rigging since 2007. sac capital has a tentative deal for a $1 billion settlement for insider trading charges. the deal still needs a judge's approval. federal prosecutors wanted a $1.8 billion penalty and a guilty plea. but sac's lawyers argue the government should deduct $616 million - for money sac already paid to the sec. the port of baltimore remains shutdown as thousands of workers strike. arbitration begins today between the steamship trade association of baltimore and representatives from four labor unions, including the longshoremen. two- thousand workers walked off the job this week over contract disputes. its expected the closure could hurt east coast auto sales. baltimore is a port of entry for cargo from mazda and bmw. in detroit-- number crunching shows the city has some cash on hand. in july, detroit issued the largest bankruptcy filing in u.s

hsbc thinks so. we'll find out why, just after this. >>> hsbc says interrelated trading will double by 2013. it will boost their share in global trade. james, good to see you. thanks for joining us. it's quite a bullish forecast for this on trade. how is that going to develop? what is it going to look like? >> well, ross, i think what you're seeing here is we had a deep dive into infrastructure and have a look at what's taking place. why? because we see infrastructure increasing as a proportion of manufactured trade taking and going up to about 54% of trade by 2013 f from about 45% at the moment. and that's quite a significant change because it reflects two things. one, investment infrastructure. so that is investment in machinery, investment in goods, increasing productivity and factories and so on. and infrastructure for roads, railroads and so on. >> and who is going to -- where is this coming from? we think of the emerging markets in india, brazil and china. is that what's going to drive it? >> i

hitting a seven-month high, the hsbc flash pmi data. that october figure hitting seven-month high as mentioned, 50.9 was that level, a tad higher than the 50.2, which was recorded in september. what's encouraging is that new orders looked healthy spiking to 51.6. but it's important because china is, of course, the world's top metals consumer. the data could mean, as many guests have told me, that we are seeing a bottoming out in the softness of the chinese data. we have seen that as of late. so that's what's taking place on the data front. let's talk about this, though, because rob doddson is a doctor economist at market. he's with us in the studio. hi, ross. >> hi. >> how are you? >> i'm not too bad. how are you? >> fine. trying to find what's coming out of markets. and we have had such frothy levels as of late. business growth easing. the services pmi missing. manufacturing data missing, as well. what do you make when you see a figure like this? >> i'd say the particular headlines figure is disappointing in itself. a lot of people exp

hong kong's hang seng is lower, along with japan and australia's market could markets will be eyeing hsbc services pmi, which will provide a clearer picture of the state of china's economy. china's services industry so far has weathered the global slowdown much better than the factory sector. three times the charm for the philippines, which was once called the sick man of asia. all three major rating firms, standard & poor's, fitch, and now movies, have given the country's debt a thumbs-up. moody's has upgraded the country's sovereign debt to investment grade. the philippine stock exchange has had a remarkable year. it is up nearly 10%. analysts say the upgrade will be even better for markets because investors with a stricter mandate will not be allowed to park money in the philippines. today the philippine stocks are lower by about 6/10 of 1%. in regional company news, south korean tech giant lg electronics lance -- plans to introduce smartphone with a curved screen. this comes after samsung electronics planned to unveil its own curved smartphone. clearly, the battle between the two kore

number one the integration of the college football particularly in the south qr most owheremost of the hsbc sche located. the kids are being recruited by the auburns and the lsu's of the world. and as the report alluded to is economics. you take a school like the university of texas their athletic related revenues 163 million lsu 114000000. grambling's 6 million. and the schools predominantly feeders to the n.f.l. only 40 million. those are the main implements right no --elements that are hue hbc schools. >> i grew up in the south and if you talk to the older people the worst thing that happened was the hbcu. we are not talking about the best athletes. the wheels start in giving money to the athletic programs. the alumni of those schools, some 6 of the best students dont go to the schools. they are going to the lsu's. a few years ago i had a defensive back who played at jacksonville and is now at detroit and was drafted from bethune. and the best thing that happened for the black athlete in the south was the integration of the colleges. the worst thing that happened to the hsbcu schools was

hsbc is expected to appeal.he stock pretty flat in london. >>> the weekend is coming so here's a look at what's on the agenda in asia on monday. economists will be watching japan's record high trade deficit. indonesia will post third quarter investment data while key corporate earnings include hutchison, port, bursa malaysia and mahindra financial. >>> still to come, we're asking you to let us know wa crazy candy concoction would you create if you could? would a pizza truffle do it for you? would you be tempted by a camel's milk chocolate bar? let us know. this is paul a. young, master chocolatier and creating truffles, joins us next. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insur

>> people are -- there's also deutsche bank and hsbc. we have to jump. thanks so much.preciate it. we'll see you soon. throw the bums out enough times, huh? the nbc news/wall street poll show 60% of americans would throw their congressmen out of office because of the shenanigans. >> how do you prevent potentially nosey neighbors from moving in next door? well, when you're mark zuckerberg it's not a problem. you buy homes from those. peoples peoples store and essentially they just get sold something. we provide the exact individualization that your body needs. before you invest in a mattress, discover the bed clinically proven to improve sleep quality. once you experience it, there's no going back. oh, yeah! at our columbus day event, save $500 to $700 dollars on the final closeout of our performance series mattress sets. but hurry-ends soon! only at a sleep number store, where queen mattresses start at just $699.99. sleep number. comfort individualized a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of o

scheme, specifically we're talking about jpmorgan chase which was madoff's biggest bank and ubs and hsbcppeals court barred him from going after the banks. pick card says he should be able to saying in the words of the complaint that he wants to hold them responsible for taking millions in fees in exchange for facilitating the world's largest ponzi scheme. we don't know if the supreme court will take the case, but its stake could be billions of dollars that pickcard wants to recover from the banks. back to you. >> scott. fascinating development. thank you. >>> to andrea day on an update on another high-profile case. andrea? >> sue, it's been in the works for a while but looks like andrea sanderlin has made a deal with prosecutors. the so-called pot mom telling a judge, quote, from 2009 to 2013, i operated a facility in which i together with others grew at least 1,000 marijuana plants and sold the productses from the plants. sanderlin lived in scars dale new york where she rented a big house and cruised back and forth to her warehouse in queens behind the wheel of a mercedes suv. now she

. >> hsbc is our topic managing as opposed to growth. we believe bbva will be better.exposed to mexico. our risk report ranking compared to brazil which is our least favorite latin american country. they derive 1/3 of their revenues from it. >>> i think definitely everybody realizes that capitol of the banking system is at least doubled. we've got all of the u.k. plays in our portfolio. we think some of the valuations are trading at value are very interesting. >> we're asking are people selling the dollar? we're not seeing it too aggressively. the debt ceiling is a miningor thre -- major threat. i think we'll see people avoid the dollar. we won't sell overly aggressively. it's a good option given the public safe haven. >>> well, that's the thoughts of some of the analysts and guests we've had on. meanwhile, it's day seven of the u.s. government shutdown. the senate may vote this week on a bill passed by the house on saturday which would give back pay to furloughed federal workers. they insist president obama must negotiate if he wants to pass aed a bill. they have a cl

. >> joining us now is karen moore from hsbc. what do you make of rajam? what is his challenge?> i think he's pointed out exactly what the market is looking at there. we want to be atrathed to assets in the emerging world. what we're looking for is government toes make assets attractive to xwrempt difficult reforms, structural reforms that's going to boost the potential of the economy and, therefore, attract capital in, regardless of what the federal reserve is doing. so he's right to point out the key role of government here. central banks can defend currencies for a small period of time, but it's governments driving with form that's really going to shape the potential growth and attractiveness in india. >> okay. now, let's just move on. because economic conditions in emerging markets are going to weaken. the emi is talking about growth. what is it saying? >> it is just above that crucial 50 mark which defines expansion above contraction. activity in the emerging world is soft. we know this. it is until the context of high growth in the last few years, perhaps growth that was a

joining us for the first part of the program today, fred normal from hsbc. fred, what has this episode done for -- let's say we cobble this deal together. we might be back here in the new year, but what has this deal done to long-term damage for u.s. investors on debt or not? >> long-term damage is the way to look at debt. in the short-term, there is no alternative. the asian central bank is sitting on debt mountains of reserves. what do you do with that in the short-term? that's the real problem. but i think in the long-term, clearly in reserve managers, investments in asia are looking at getting away from the u.s. dollar. and it could potentially, for example, set the tape current liberalization and china to set the chinese renminbi as a possible alternative. it's a two, three, four-year process. >> yesterday, you can now invest into mainland china from london as of yesterday. is there all part of the same strategy? >> it's all part of the same process. but the stalemate in washington is essential ly dealing with tht process. the japanese yen is an alterna

that's according to howard wen over at hsbc.ops as we broke through september lows. add to that the fact that when you think about the government shutdown, seen as anti inflationary, that is another thing pressuring gold prices. but there's not a lot on the fundamental horizon supporting gold or many other commodities, for that matter. and so the mantra seems to be when in doubt, get out. playing not only in the gold market, but also looking at silver down more than 4%, copper down significantly, the industrial drag going on there. and we're also looking at lower oil prices and there, of course, in the oil market, a lot of traders concerned with what will happen with the fundamental data due out this week in terms of oil. and that is the inventory report that's due out tomorrow from the energy information administration. they tell us they are still going to be able to publish reports this week and next, and that the energy department will be operational until october 11th, at least they do have some appropriations money for that