-euronext has agreed to sell itself to the intercontinental exchange, an acquisition that would reshape wall street. it's an $8.2 billion deal that values the n.y.s.e. at $33 a share, a 38% premium to wednesday's close. so what are the implications of an upstart exchange buying the venerable big board? erika miller reports. >> reporter: the new york stock exchange has been the symbol of capitalism for nearly two centuries, but now it wants to give up its independence and be bought by a little-known rival in atlanta. the intercontinental exchange, or "ice" for short, was started 12 years ago as an energy trading platform. since then, the exchange has evolved into an internet-based marketplace trading futures, options, and derivatives. the reason it wants to buy the n.y.s.e. is not the plain vanilla stock trading business. the jewel in the deal is a division called "liffe," a leading futures and options exchange. it's based in london and drives over 40% of n.y.s.e. profits. >> it has a business that deals, for instance, in financial derivatives. these are derivatives contracts tied to fin

the intercontinental exchange, or "ice" for short, was started 12 years ago as an energy trading platform. since then, the exchange has evolved into an internet-based marketplace trading futures, options, and derivatives. the reason it wants to buy the n.y.s.e. is not the plain vanilla stock trading business. the jewel in the deal is a division called "liffe," a leading futures and options exchange. it's based in london and drives over 40% of n.y.s.e. profits. >> it has a business that deals, for instance, in financial derivatives. these are derivatives contracts tied to financial products like interest rates, and ice has been wanting to expand in that direction for a while. >> reporter: as for the n.y.s.e., it's no secret that this year has been a tough one for the stock trading business. in addition, fewer companies are going public, so the i.p.o. market has dried up. on a conference call, n.y.s.e.- euronext c.e.o. duncan niederauer was asked why not try to ride out the storm? >> our responsibility to the shareholders was pretty clear. our job is to create value as best we can in the ne

but i have spoken with the executives at the intercontinental exchange. stand the iconic importance of the new york stock exchange floor, the floor experience, and so of course we are all moving forward and technology. most of the jury will be done through technology, and that adds transparency which we talked about before. i think they understand very well the importance of having the floor there. i certainly cannot speak for them for how long it will be open, but i don't think it's going to close any time since. gerri: do you think there will eventually shut it down? at the end of the day its really an extra layer of cost. i'm just talking dollars and sense. >> i think their is a lot of value that may not be seen in the balance sheets. you know, that television is there a lot of the time. it's an experience different from the nasdaq experience which, as you know, is entirely electronic. at the devaluate. ultimately valued have to keep it open. we'll have to see, but i know that they valued the iconic importance of the new york stock exchange floor. gerri

the intercontinental exchange has twice as large as a market cap as the newer stock exchange. is in the neighborhood of $9 billion or more. the new york stock exchange is a million dollars more. it is a takeover. we should point out that the management has not been determined just yet. this is a big story. the new york stock exchange has been known as the epicenter of finance. that independence is a hallmark of an exchange on the floor. people traded, and they still do that over there. we should point out under this deal, the intercontinental exchange, i believe that it essentially a computer. the computer will be taking over this sort of hollow ground of capitalism, which is the new york stock exchange if this deal goes through. it is, i guess you could say, a story of technology. [talking over each other] >> a computer is taking over the iconic new york stock exchange. >> the new york stock exchange is primarily dealing with the market making of stocks. the buying and selling of equities. it will bring derivatives, commodities, all of these other things, other securities tha

the intercontinental exchange was created only 12 years ago by jeff springer, a longtime executive in the energy industry. people don't realize energy is a commodity, commodities are traded in exchanges locking in costs. he came up with a system to forget about the pits of chicago where people ice-cream at each other or new york, the new york mercantile exchange, let's do electronically and he created this thing, the intercontinental exchange and what is great about this is it is something to be said for the stock exchange remaining independent but they are now part of an american company and an american entrepreneur created $10 billion of wealth, that is what the market cap was before the deal and when you buy something your stock usually goes down a little bit, created $10 billion worth of wealth of market cap in ten years, something to be proud of and buying the stock exchange. not selling for the germans. [talking over each other] >> regulators time it. charlie: regulators in europe, eyes and nasdaq attempt over the stock exchange on antitrust grounds, your company is in one place

year-old financial institution is being bought by an upstart kid of a company from atlanta, the intercontinental exchange, or ice, a derivatives trading firm founded only a dozen years ago. an icon of american capitalism since 1792, the new york stock exchange long dominated the financial landscape, but the big board has seen its influence erode in recent years. how long did you work opt floor here? s. 30 years. >> reporter: 30 years. when veteran trader it ken polcari started on the floor in ade early 1980s, that he was one he eome 3,000 traders. >> the energy that was in the building, that really drove kind of the personality of the place, ite market, the excitement of it. >> reporter: today, the floor is considerably quieter as electronic trading has eliminated the middle man, the number of traders has dwindled to fewer than 700 and the s y.s.e. now also faces tougher re aetition. >> there are 12 other exchanges, which are public transparent exchanges. >> reporter: the nyse has seen exchshare of trading and the nocks listed on the exchange declined from 82% to 21%. is this going to go way some time so

ice buying nyse, the intercontinental exchange buying the new york stock exchange at a 38% people upat is why you see nyse shares jumping to new highs. jeffrey sprecher, ceo of ice and duncan niederauer ceo of nyx, they're obviously happy with this deal. sprecher went on to say, traders keep talking about it, he wants to keep the nyse floor the way it is. there has been talk about moving into more electronics and such but for right now that is not the tune that they're delivering. back to you. tracy: i'm sure a lot of guys down there are nervous about it. we'll talk more about that in 15 minutes. thank you, nicole. ashley: house speaker john boehner says he is very confident his so-called plan b for the fiscal cliff will pass in the house later today. he spoke within the last hour. rich edson following all of the trials and tribulations on capitol hill with the very latest, rich. >> well, ashley, democrats and republicans for them the political posturing continues. that is not a good sign. aides say the president and speaker haven't really negotiated in the last few days. that's not

the intercontinental exchanges a 12-year company that deals with investing contracts. companies say the deal will change for the financial district. a major winter storm could bring a white christmas to some in the u.s. with blizzard warnings in several states

how to respond to an $8.25 billion deal announced today between the new york storage and intercontinental exchange. there's been informal discussions with the stock exchange about a deal as recently as last week but the nyse, afraid to have another deal blocked by regulator decided to go forward on a deal with i. as part of this marger officials also agreed to a clearing partnership with i.c.e. which means i.c.e. will be clearing its equity trades in europe. this deal will not face regulatory scrutiny with the way that this is formed. the former deal attempts with deutsche boerse fell and here there was no overlap between i.c.e. and nyc. however, this clearing agreement makes it very tough and expensive to break up this deal between nyc and i.c.e., so the question market sources are asking now is what is the next move for cme group, nasdaq, hong kong exchange, among others? let's talk about when,deal and what it all means right now. scott, this is part of the deal that's really being underreported and not spoken about too much. that's the clearing exchange partnership. that's going to make it very

the new york stock exchange is owned by the atlanta-based intercontinental exchange. the deal is worth $8 billion. the brother of bernie madoff has been sentenced to 10 years in prison. pleaded guilty in june. bernie madoff lost a total of about $20 billion. africa's president has pledged to end poverty in his country. jacob zuma was speaking on the final day of the ruling party conference. what will it take to bridge the economic gap? >> she and her friends say they are struggling to look after children. their patience is running at all. -- their patience is running out. >> but the leader is not listening. always come to the people to promise you'll get a house, electricity. but nothing. >> half an hour away, anc leader jacob zuma makes more promises. economic transformation and a better life for all africans. >> the government will therefore transform the structure of the economy through a industrialization, broadbased economic empowerment, addressing the basic needs of our people, for women and youth, as well as strengthening and expanding the role of the state. >>

the viewers know the intercontinental exchange announcing the noon buy the new york stock exchange, 8.2cash and stock this morning, the deal announced. what is going on with all the deal making? otherwise august lackluster year for m & a. our next guest says dealmaking poised for a comeback in the new year. he is rob kind letter, global head of mergers and acquisitions at morgan stanley. nice to have you back. >> good to be here, david. >> suddenly seeing a spate of dealmaking. i don't want to make too much of t seeing fairly significant transactions the last part of the year. why? >> these have been in the works for a couple of months. people try to time deals to get done kind of at the end of the year. >> announcements. not going to close any of these. not fiscal cliff related? >> not at all. these aren't driven by tax law changes. these things have been in the works, strategic deals. this deal announced this morning with ice and the new york stock exchange, obviously a visionary deal. my perspective it is interesting. last year i was advising the new york stock exchange on its other

the intercontinental exchange the ice is the only really shareholder driven exchange there it's created by a man jeff sprecher and he's frankly been the best manager in the course of the last ten years and in exchange he's driving it forward like a genuine shareholder driven entrepreneur the new york stock exchange on the other hand that unfortunately has as is often the case with a two hundred year old organization it's managed to move itself forward in many ways but ultimately it's stuck it still needs a lot of reform it needs somebody to really get in the ship and i really believe that the ice is management are the people to do that that really begs the question then why such a high premium on the and why. seethe doesn't sound like such a precious asset from what you're saying are well that's a very good point but i think here we have to really look at the history bear in mind the shares of the last few days of the new york stock exchange were done something like eighty percent eight zero percent from their all time high so actually coming in today this premium yes it looks incredibl

possible merger between the new york stock exchange and intercontinental exchange brings up regulatoryst year were opposed by regular laters. joining us is former s.e.c. chairman harry pitt. the current ceo of cal rama partners. this deal is a little bit different, correct? this one might past with muster? >> yes, i think this one has a fairly high percentage of likelihood of passing. doesn't raise the same problems because of the antitrust issues that really defeated the last several efforts. >> but the interesting part here is what it really says about equities trading and how that business has really changed drastically over the last decade or so. >> it does. and also what's happened to the new york stock exchange, which has effectively become a wasting asset. it's kind of sad to see what was once the premiere exchange in the world now selling for what is a relatively low price compared to historic value. but it does mean that equity trading is not the wave of the profitable future. that really belongs to derivatives and futures. >> is this just something that happened because of wh

this is based on reports that rival operator intercontinental exchange could be about to make a play for the nyse. this may feel like an old story. it is the second time around, about two years ago ic teamed up with the nasdaq in a bid for the nyse. this was blocked because regulators were concerned about all stock offers being under one roof in new york. according to sources, deal could be worth about $8 billion. that would constitute about a 37% premium to wednesday's closing price. but stand by for more detail on this possibly today, mark. >> karen, thank you. as always, let us know why you're awake and watching. shoot us an e-mail at waytooearly@msnbc.com or tweet me @markhalperin. >>> still ahead on "way too early," the jets find one possible solution to the whole sanchez/tebow drama. dump them both. it appears gang green is ready to carry out a quarterback shuffle new york style. >>> plus, it will be a nasty commute as a winter blizzard rips across the midwest and towards new england. bill karins will have a check on the forecast when "way too early" comes right back here. ♪ if

. >>> the new york stock exchange has been sold to intercontinental exchange, a little known rival. ice was $8 billion. that's $3 billion less than what it would have sold for in a proposed takeover last year. the new york stock exchange dates back 220 years, but in recent years, a symbol of u.s. capitalism became a victim of technology and regulatory changes. >>> instagram, the mobile picture-sharing service owned by facebook has bowed to user pressure and has revised its controversial terms of service policy. among them the company said its advertisers could display its photos without paying for them. instagram now says there are no such plans. >>> and facebook has a new way to reach out to others, but it's going to cost you. until now messages sent to people not connected with the social network would arrive in a folder marked other for so-called less relevant messages. now it's testing a service that charges $1 to guarantee that users' messages send to nonconnected people will arrive in their mailboxes. it would have to be a really important message. >> you're pushing it facebook

the intercontinental exchange it i >> big fails for toyota's camry. this is according to the institute of highway safety. the camry one of america's most popular cars and failed its crash test by the institute. the front wheel and the bending the passenger compartment foot well in word. the steering was pledged so far off the air bags did not deploy. the three as at be a hybrid wet and did not perform any better it also earned a poor rating. honda's accord sedan and suzuki his ice sheet received the institute's top rating of good. the motors is recalling nearly 119,000 pickup trucks in the u.s. because the heads can fly open. the recall affects the 2012 third want the entire 2010 through 2012 chevy colorado and gmc canny and midsized trucks. the national highway safety admission says administration says some of the trucks may not have a secondary hood latch. the mainland is a vast and that the hood could open unexpectedly and block the driver's vision. gm on the problem after getting to complaints. the recall is expected to begin next month. >> we hav

early as today as its parent company hammers out a potential deal to sell itself to rival intercontinental exchangebout $8 billion. >>> gm shares shot up 6% yesterday on news that the u.s. government will sell its remaining stake in the automaker by 2016. >>> demand has skyrocketed for one unique product, bulletproof backpacks. they're lined with a light material that can allegedly stop handgun rounds. >>> google, the search giant just inked a deal to sell motorola home for $2.3 billion. you can bet it's going to be a long day for delivery workers at u.p.s. and the u.s. post office today, the busiest day the year for deliveries. u.p.s. expects to hand over 28 million packages for today alone. >>> good news for folks still shopping, that would be me, retailers cut prices up to 70%. macy's will be open for 48 hours straight beginning 7:00 a.m. tomorrow through 7:00 a.m. sunday. >>> there could be more cheer in offices around the country. a new survey found 72% of executives plan toen had out holiday gifts this year. that's nice. >>> finally if your holiday party is missing balloons, here's why. a glo

power to prosper. ♪ connell: we talked about the $8 million deal being acquired by ice, the intercontinental exchangengs people are talking about is what does this mean for the future of human beings on the floor of the exchange. charlie gasparino covering this story about that area topic. >> in times of stress, this economy turns to the new york stock exchange. there is a reason there is an american flag wrapped around the front of this building. charlie: you are committed to the floor traders, keeping them here? >> absolutely. connell: charlie live now from the floor. pretty big day down there, obviously. charlie: i am blown away by this story. we were pretty much on this thing from the get go. this was on a merger. the initial reports coming out of the, i believe, "wall street journal." this is a 200-year-old institution being taken over by a company from atlanta that has been in business for the last 12 years. this is amazing. that is like the glass half empty or half full power. about another year ago, we were talking about, and a lot of people moaning about a german institution taking over the

. >>> there is big news in the exchange business today with word that the intercontinental exchange isuying the new york stock exchange for $8 billion in cash and stock. what's it mean for the way you trade? bob, is it going to mean anything to the folks who are sitting at home who are trading stocks or guys and girls sitting on our desk? >> if you're talking about diversified businesses, the nyse and ice is clearly the big cahuna in the room right now. that may have some effect on trading. certainly futures and derivatives is where the world is going. to the extent people are trading that and they can make that business more efficient and stream lined, it does opportunities here. i think it will put the exchanges back in play. for a year and a half they haven't been in play because regulators have squashed a lot of these deals. singapore and australia was squashed. i'll tell what you is really interesting. they haven't named the company yet. the big question is are they going to keep the stock trading business, which hasn't been doing well. if they call it consolidated trading or inte

no major changes are expected after atlanta based intercontinental exchange completes its $8 billion that should happen sometime next year. >> wow. >> $8 billion. >> to purchase the new york stock exchange. that's fascinating. what that could potentially mean should be interesting. but we'll see how it plays out, as always. >>> facebook will soon be racking up more revenue $1 at a time. the social network is testing out a new service on a limited number of people for $1, and will guarantee delivery of a message into the main inbox of someone who they are not friends with. currently, some of you may know messages from nonfriends most likely end up in a much ignored folder labeled other. the company says the fee should help discourage spammers. let's hope so. i never knew that box existed until last fall. and it was two months after a very important message came to me and i totally missed. and i regret it to this day. so go to your page and check it out if you don't know where that others box is. i had over 400 messages waiting for me. >> i have to check that. >>> some residents in sou

about wall street, intercontinental exchange agreed to buy nyse euronext.bloomberg silicon valley closing lower. some of the drags on that index speaking of oracle, making another acquisition, building it's cloud computing business. buying a company for more than $870 million. kpt providesaó o cloud-based software used in marketing and salesmanment. get this, amazon.com is going to start producing shows. the e commerce giant ordered viewer response will determine which one is made into a series one is about senator that's live in a rented house, and one from the onion. production scheduled to begin shortly. bloomberg study yoes in san francisco, larry, carolyn, back to you. >> thank you. >> and blizzard pounding the mid west right now. it's causing major problems for travelers. hundreds of flights have been cancelled including all southwest flights out of midway airport. a blizzard warning from kansas to wisconsin. 10 inches of snow has fallen in the upper mid west over 24 hours. another storm is on the way. >> we don't haveog(u to worry about that. >> we

intercontinental exchange is looking to buy nyse, the parent of the new york stock exchange, an $8.2lion cash and stock deal. it's known as i.c.e., it operates as this electronic exchange and trades futures and over-the-counter energy and commodity contracts. i.c.e. has other exchanges looking to buy the nyse is trades in other things different from what's traded here. they trade crude oil, natural gas, and they've even expanded their activities into softer commodities like cotton and sugar and coffee, so you're seeing sort of something new being thrown into the mix. as we speak shares of the nyse are surging 35% in the premarket. remember the nyse euronex is a public company and you're seeing these shares surge, carol, because the deal values it at $33.12 a share, that is a premium of 38% over wednesday's closing price, the actual trading of stocks. it's been overshadowed by derivatives and options. that is i.c.e.'s territory. when you see the marriage territory it's well thought out. it's an iconic brand, a way to leverage all of that with something new. i must add we did speak wit

today nyse agreed to be acquired by intercontinental exchange, a new upstart with not even a dozen years of trading under its belt. this went from $24.32 and change, had a fantastic appreciation, which shows you how an icon being american business can be worth much more than it's trading for, providing a competitor gets to acquire it. separate these companies, know what they are? they're part of a dog eat dog unverse of exchanges and an industry with way too much capacity. together they become the global power house that can dominate futures trading. in other words, this is a dodd-frank legislation made me do it deal. it shows both companies are willing to do what's right for you, the shareholders, even our f our leaders aren't willing to do what's right for you, the taxpayers. sadly the new york stock exchange is something that we used to come into a newer company because the equity business, which is its bread and butter, has shrunk and changed dramatically. it's kind of more like in english. it's for the worse that it shrunk. i suspect stocks will become a very small part of the enoug

the company is being acquired by rival intercontinental exchange for $3.2 billion in cash and stock. >>> research in motion may be crawling its way out of the abyss. the blackberry maker left for dead earlier this year. now shares are up more than 100% in three months. it also beat third quarter estimates on both the top and bottom lines. shares leaping after hours. >>> we start tonight with the convergence of reality an hollywood. matt damon's new film, "promised land" opens next friday but it is already sparking major controversy in the energy community. critic it is of the film say it casts fracking in a very negative light. they flat-out reject some truths about the process. with california imposing its first fracking regulations only yesterday. is this just hollywood being hollywood or is there an agenda behind this that's coming out at a very convenient time? let's go to fox news's john roberts for more on this one. so, john, give us the basics. what is this movie all about. >> well it is about hydraulic fracturing. you mentioned fracking at top. this is the shale gas revolutio

intercontinental exchange offering $8.2 billion to buy nyse euro net and that deal has been approvedhareholders and needs regulatory approval. stock market pulling back on the "fiscal cliff" concerns just as it did yesterday when the dow dropped 100. right now the dow lower by 9. nasdaq is down by 5. s&p is moving lower by 1. >> brian and michelle, back to you. >> kcbs financial reporter jason brooks. thank you. >>> the blame game over the "fiscal cliff" continues on clip. speaker of the house john boehner is pushing ahead with his plan b. the house will vote today on the gop bill that cuts taxes for everyone who makes less than a million dollars a year. democrats say that bill is not balanced and have already promised to defeat it in the senate. the president says republicans should accept his deal. >> at some of point there's got to be i think a recognition on the part of my republican friends that, you know, take the deal. >> i hope the president will get serious soon about providing and working with us on a balanced approach. >> the president's latest offer provides $850 billion

. >>> the new owner, atlanta-based intercontinental exchange little will change if they approve thatoday will likely be the bizzest why shipping day for ups. the company expecting to deliver 28 million packages today alone and that's about 300 packages each second. this also is the busiest week for fedex with shipping on monday. >>> miss usa is now miss universe. the 20-year-old won the competition in las vegas and she's the first american miss universe in 15 years. threats of violence and the doomsday rumors forcing some schools to cancel classes and these cancel classes. this affects 33 different districts in michigan. school officials say the threats turned out to be false, but apocalypse rumors are seriously distracting students and the staff. meanwhile, in france police are keeping people away from one village that some say will be the only area to survive. doom's day now on the myan calendar, it's tomorrow. in china officials arrested nearly 1,000 cult members for spreading rumors about the end of the world. the ancient myans believed that the end of the world will happen on 20

intercontinental exchange and nyse are lower today at news of their $8 million merger. >> you get it, cold as ice? >> bob gets it. >> we never hesitate to play an old rock song from the '70s. i.c.e. is down 2.7%. i'll tell you why this is important. because you get a multiple of ice for your nyse shares, .17 shares of i.c.e., plus a tax component. as i.c.e. goes down, the money the nyse shareholders will get goes down. i.c.e. does not pay a dividend, but the nyse does. i.c.e. did commit to paying a dividend yesterday, $3 must know million is what they committed. that's very good news for nyse share hold erts. the second thing is, 28% premium for nyse shareholders. that premium is based on some significant cost energies. that's a fancy word for generally head count reduction. they were talking about $300 million in additional cost reduction on top of what they're already doing. so a lot of my friends up hstai at the nyse a little nervous about what that means for 2013. guys, back to you. >> bob, thanks very much. >>> as we know, christmas just around the corner. most of our elected rep

was bigger with a 30% upside after news of that $8.2 billion deal to be acquired by the intercontinental exchange. to the downside, it was electronic arts logging a loss on concerns there will be more scrutiny on violent video games in the coming days and weeks after that tragedy at sandy hook, elementary school. >> many thanks, appreciate it. >>> here now to talk to us dan greenhaus, you are, if i understand it, a fiscal cliff stock bear. >> yes. give or take, yes. >> and why? >> well, i think it's pretty clear you're talking about -- well, our best case scenario has been we're going off the cliff. we said that the day after the election, we standby it today. if you do that, you're talking about the largest tax increase in our country's history, a considerable amount of spending cuts, and in the short-term, probably hit the stock prices on the order of 10%. >> if i give you a cliff deal. okay. i'm going to give you a cliff deal for middle class extensions, 250,000, you're right the top rates will go up. but if you get that deal in january, that does save us from the recession scenario, the reall

york stock exchange, home to the world's greatest companies, agrees to a takeover by the intercontinental exchangei'm tom hudson. former republican senator judd gregg joins us as the u.s. house prepares to vote on the republican plan "b" for avoiding the fiscal cliff. >> susie: and investors gobble up shares of blackberry maker research in motion as the smart phone maker posts better than expected quarterly results. >> tom: that and more tonight on nbr! >> susie: here at the new york stock exchange, the big trade of the day was the big board itself.

york stock exchange, home to the world's greatest companies, agrees to a takeover by the intercontinental exchange. >> tom: good evening. i'm tom hudson. former republican senator judd gregg joins us as the u.s. house prepares to vote on the republican plan "b" for avoiding the fiscal cliff. >> susie: and investors gobble up shares of blackberry maker research in motion as the smart phone maker posts better than expected quarterly results. >> tom: that and more tonight on nbr! >> susie: here at the new york stock exchange, the big trade of the day was the big board itself.

are predicting the end of the world at the end of december and the nyse-listed sells the intercontinental exchange connection here? of the world ends tomorrow i guess that is an execution risk we have not tracked into the confirmation, let's hope the mind are wrong. >> i think it is an amazing building 200-year-old institution being taken over by a 20 year institution. how does that happen? >> 12 the year. >> you overstate my age. what is interesting is the new york stock exchange is a network that started 200 years ago but today you could start a network and you and i have been a part of watching networks create organically quickly, that is what technology has done, what facebook is, what amazon is, what ebay is so my company created a network that grew quickly, very complementary to the network that 200 years ago some guys decided on. >> which is? >> stocks traded here, you guys essentially a black box that trades commodities. it isn't black. [talking over each other] charlie: this is what i heard how this deal materialized. last year you tried to take over the stock exchange and he doesn't hold

some of the headlines from around the globe, the new york stock exchange is being sold in intercontinental exchange an electronic company based in atlanta agreed to pay $8.2 billion for the 220-year-old exchange. the new york stock exchange trading floor will remain on wall street. >>> bernard madoff's brother has been sentenced to ten years in prison. peter madoff had been helping his brother run a ponzi scheme that swindled investors out of billions of dollars. peter madoff pleaded guilty to falsifying documents and lying to securities regulators. at thursday's sentencing he said he's deeply ashamed. >>> "usa today" reporting instagram is backtracking from a new privacy policy as we reported there was a huge backlash when the website suggested it would use customer photos in ads. instagram says it has no intention of selling photos for ads and it never did. >>> the "l.a. times" says facebook is testing a new user fee to allow customers to send messages to the regular inboxes of people who are not their friends. right now the messages go to a box for other which is also known as spam. >>> queen el

reports say the intercontinental exchange is in talks to buy nyse euro nex for about $8 billion. >>>utures are trying to alley this morning. take fair value into account. the dow jones industrial average is trying to raise about $14 billion from the open. european markets started out weaker than we climbed back towards unchanged. now they're weaker again. the ibex, 35 among the underperformers there. it, of course, had been leading the rally. the ftse 1100 is trying to buck the trend, this despite the fact that it released a set of relatively weak resail sales figures for november. in the u.s., house republicans and tensions over the fiscal cliff continue to rise. it's unknown what plan b looks like. house speaker john boehner has reportedly adding spending cuts. president obama says he'll veto the bill which will raise tax rates for those making more than $1 million a year. the president says house republicans should stop trying to score points against him. >> take the deal. you know, they will be able to claim that they have worked with me over the last two years to reduce the defi

and also, i.c.e., intercontinental exchange is buying the nyse for a deal valued at about $80 billionpromised to preserve the nyse brand. the stock exchange itself is a little more of a movie set than an exchange these days but people are fiercely loyal and want to keep it as it is. they say they'll keep it but you never know. it's a pretty big deal on wall street today. >> sam? >> yeah, when are we going to start seeing any market implications or ramifications for what's going on with the fiscal cliff talks? i'm waiting to see what kind of -- how the traders are going to react eventually. >> i think every time boehner walks out on a press conference, people decide to share a thousand shares of ibm and every time he smiles they buy them. people wonder if we'll get a t.a.r.p.-like sell-off, if we go over the cliff or there's a dramatic vote. people literally were scared their banks wouldn't work. this is a little different. the problems would be phased in. there's no doubt if there's sharp negative news or no deal you will see the markets, some say go down a couple percent. >> okay, br

intercontinental xarchlg is buying the new york stock exchange for $8.2 billion sent both companies soaringrday. research in motion tumbled more than 10% after reporting its first ever decline in subscribers. >>> peter madoff, the brother of jailed ponzi skeeper bernie madoff, will serve ten years in prison. peter madoff still says he's innocent. >>> facebook is testing a new way to make some money. charging users $1 to send an internal e-mail message to someone who is not on their friend list. forget the fiscal crisis. come january 1st there's a possibility that milk prices could rise to as much as $6 to $8 per gallon. that's if congress fails to pass a new farm bill. >>> in the wake of superstorm sandy which led to the conselation of this year's new york marathon. runners from around the world are being offered a full refund. >>> those in the know say the average markdown is around 43% right now. that's compared to 33% on black friday. >>> but getting a deal doesn't always guarantee delivery. this home surveillance video shows a u.p.s. driver delivering a package to one doorstep, and then

news of reports this morning, the company that runs the new york stock exchange has been sold to arrival company. intercontinentalalling for $8 billion and the deal has been approved by the boards of both companies and it still has to be a proved by regulators. it was halted earlier this morning and a spokesperson did not say when trading would resume. this is according to a report and obviously we will be on touring the -- monitoring the market to see how it impacts trading this morning. >>> up, a deadly crash, a 40 car pileup, what drivers there will be facing this morning... >>> and trying to find a home for the bay area's homeless, why getting people out of the bitter cold gets harder and harder. . >>> good thursday morning time now 5:56 temperatures are in the upper 40s and rain fall will soon be an issue and we will have more coming up in a few minutes. >>> a pileup with almost 40 cars, it is the long island expressway, it was closed overnight and emergency crews cleared the wreckage. it started yesterday afternoon when a tractor-trailer slammed into cars and stricted a huge pileup. at least 33 people were

exchange for a long time. what's your take on this latest deal, nyc and intercontinental getting together? es this change anything for you? >> for me it doesn't change. what's most important is i need to know that our shareholders have a market and the new york stock exchange thus far is a market that's highly liquid and in tough times you want to get that liquidity which is strength of this exchange, and i don't think the impacts it may enhance it a little bit, but to me i want to make sure we have a strong solid market. >> enhances it because the pool of liquidity is smaller. >> what kind of year are you expecting in 2013, bob? >> expecting a good year. >> yeah. >> can't give you a prediction, but i will tell you we've worked hard on our operating results in 2012. still on target we feel to achieve our as operational goals in 2015 >> you look at the asian market, and i know for a long time that's been so important. you mentioned japan, okay, the yen has been a big story. what can you tell us about what's happening in japan right now in terms of business? >> well, our business continued to