let's move onto another major tax settlement, this time between julius baer and the u.s.nment. >> shares of julius baer are higher today after the bank agreed to pay a $547 million settlement. that is marking the end of a four-year investigation. talk us through the reason the shares are up. half a billion is a lot to settle for. they must be feeling the relief that this investigation is over. >> i think relief is the right word that we have been waiting more than four years for julius baer to come to a conclusion with the u.s. authorities over inquiry into how the bank helped americans avoid taxes. putting out a press release saying we have earmarked five or $47 million to a fine is not exactly a positive symptoms of news but when you have a chief executive officer who has said he hopes he will resolve this investigation by the end of the year for the last three years, there is relief in the market that we have visibility. >> julius baer follows big settlements coming from ubs and credit suisse. what about the rest of the industry? how damaging is this? there are some so

julius baer will pay $547 million. 2015,estors look back on many would argue that the u.s.eserve was the biggest driver of global financial markets. jp morgan disagrees. >> all eyes are on china. china was much more the driver then the fed. it is still one third of global output. it is more than a one-to-one correlation. scarlet: a new survey indicates vladimir putin needs some help in economics. more than a quarter of economists gave the russian president an f for his management of the economy. 50% gave him a low-grade. prices in the u.k. rose in december by the most in eight months according to nationwide building society. to average price was up 1% $292,000. prices arehome rising almost three times as quickly. this has been your global business report. for more stories, visit bloomberg.com. abigail doolittle's life from the nasdaq. abigail: here we are at the end of the trading your. the biggest story at the nasdaq is the outperformance of the composite index relative to the other major u.s. indices. up composite index was close to 8% as opposed to the dow down 15% in 20

the julius baer group will pay the justice department more than a half billion dollars.run by martin shkreli is plenty for bankruptcy. andost two more directors was delisted by the nasdaq. bios -- kalobios fired him. michael: it is time for the single best chart. if you live in the northeast or the midwest, you have seen an awful lot of change in the weather. the mild weather we have gives way over the last couple of days, and you can see the impact on your power bill. we picked manhattan because all politics is local, but you can see in the chart on december 24, we saw the lowest -- there are two charge of the same thing. we saw the lowest average power bill for new york city's power ever. it was 72 degrees here. look what happened does code later as the temperature goes down, a 47% jump. we hope that is not sustained, but it shows the impact of the weather, utilities, on what we pay. tony: it is estimated that the government -- by the government that people will save on the bill this year. michael: you came in from california. obviously it is a change for you. but the