liz: liz macdonald.any that didn't need any public advertising to land huge rounds of funding because the idea was so good and so quickly adopted by people out there. the huge powerhouse now in the digital music market driving 10% of all digital song sales, and its next target, television. jo ling kent is at ad week in new york with a fox business exclusive. tell rich riley, we loved it when we he came on the show a year or two ago, but the whole concept is fascinating. >> reporter: that's right, liz. in fact, right now they just crossed the ten billion pad mark. this is a company, shazam, that is just growing without any external advertising, and we have a fox business exclusive with the ceo, rich reilly, here at ad week. thanks so much for joining us. you have a lot of exciting stuff going on right now, but you guys just received $40 million in funding from carlos slim jr., of course, one of the richest men in the world. tell us about what you're going to do with that huge amount of money. what's next?

liz macdonald joins me for the bottom line. he wall street journal, the senate banking committee where democrats hold a razor thin two vote majority, three democrats on the committee who may oppose larry summers. elizabeth warren, sherrod brown, three big democrats on the banking committee. so far no republicans of come out either way and support of any of the candidates meaning larry summers or janet yellen, and this has july the democratic caucus in the senate the of the president a letter, more than a third of them are the democratic caucus, give a letter to the president saying we support janet yellen. the problem with larry summers are these. his lucrative ties to wall street, the fact that he supported repeal of glass-steagall, the fact that he is supporting the too big to fail system. is he really yet. tiger? what he really delve back on money printing? that is the question over larry summers. testing with janet yellen is she is being seen as a likely person to be the nominee because she would be easier to get to the sena

that was liz macdonald, very funny liz macdonald on red eye last night.d up and she's going to be right here in just a second. hold on now, liz. coming off the opening bell, let's go to chicago, scott shellady is with us, all kinds of headlines today. what's yours? what's your headline that's moving the market? >> well, i tell you what, after yesterday's comeback victory with team usa and america's club i'd like to nominate larry ellison for fed chair, we need that kind of comeback to get out of the doldrums. but look at how qe has compressed volatility and i think it's been helping the market over this debate that we've been having in washington, rather than hurt it. if we didn't have qe, i think we'd be-- >> are we going up today, stocks? >> yeah, we've been down five days in a row and it's time to claw back the losses. stuart: that's the story. time to go back up. thank you, scott. and the bell has rung and a dow that gained 15 points in 20 seconds. not bad, the opening trend is up. we were very close to putting j.c. penney on death watch this morning

liz macdonald is with us. he made an important forecast about this merger.ying, tracy? >> he is saying for the purchase and for the nokia unit to break even given the purchase price they have to hit 50 million smartphones this coming year. but get this, apple sells about that much in a quarter. samsung sells about 70 million smartphones in one quarter. so they have also got a real balancing act to deal with at microsoft with this nokia purchase because they have got to keep happy also htc which has partnerships with microsoft and also samsung as well. so we have an email though from steve ballmer that went out to workers about this acquisition. here's what steve ballmer is telling his workers about the acquisition of the nokia unit. he is saying quote, this is a bold step into the future. it is the next big phase of the transformation we announced on july 11th. nokia's windows phones are the fastest growing phones in the smartphone market, basically displacing the blackberry. we have a huge fall and holiday season ahead of us. we have to execute flawlessly.

thanks very much, liz macdonald. cheryl: as always charles payne is here to make you a little bit of money. what the next thing is coming up after the break. dennis: are you ready for some football? the billion dollar kickoff tonight in denver, the nfl trying to make the game safe, we will take you live to a company that is doing that. let's look at metal as we head to break. with the spark miles card from capital one, bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase every day. what's in your wallet? [ crows ] now where's the snooze button? cheryl: time to make money with charles payne here to t

joining us to weigh in, liz macdonald, david asman.from a government shutdown. the government is expected to meet for more than two hours. if the clock runs out with no deal to get the government funded, who take the fall? dennis: the republicans will. the obamacare was already past so for republicans to say we're not going to fund the government unless you derail some that already passed and already approved, republicans will look bad here. liz: i think they both do. they took a five and half week vacation this summer and put the country back again into a shutdown debate. this is not the way to do government policy. extraordinary is now becoming ordinary because they think full throttle fed, it will come to the rescue of the market has a hiccup. tracy: the market is down right now. the david: the bottom line of who is to blame the matter who is to blame the media will blame it on republicans. listening to npr. previous shutdowns, the 95 gingrich shutdown. it was actually clinton who shut down the government in '95 because of a veto to

thanks, liz macdonald and phil flynn.ear-old rolling stone and he has come of with a novel way to do is web site, the creator of mother nature network, joining us coming up. dennis: cheryl: congress, think the situation. the company will now of the molasses is doing, it is a big fitness story. coming up. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. >> consumer prices, the cost of energy fell, and increased by 1 tenth%, the restaurant for a rise of 2.1%. and foresee the weakest holiday sales since 2009. and forecasting a rise to 2.4% in november and december sales and in 2011 and china will become starbucks had second-biggest market by the end of this year. and canada is the number 2 spot. and 4,000 locations across china and the asia-pacific region. the latest in a fox business network giving you the power to prosper. nascar is about excitement. but tracking all the action

liz macdonald is all over that story next. ashley: look how the u.s.he dow surging. oh, yeah, the dollar down against all of these currencies because they're all moving higher. the euro, the pound, the canadian dollar, the peso and the yen. we'll be right back. @?? >> at 22 minutes past the hour i'm arthel neville with your fox news minute. the list of nearly 3,000 names was read once again as americans remembered the victims of the 9/11 attacks 12 years ago today. bells tolled to mark the times when the hijacked planes hit the world trade center in lower manhattan and when they fell. president obama attend ad remembrance at the pentagon which included family members of those killed in that attack. the president began the day with a somber ceremony at the white house along with first lady michelle obama, and vice president joe biden and wife jill biden. a ceremony was held in shanksville, pennsylvania, where the passengers and crew of the flight 93 were recalled preventing the their plane from hitting the white house or the capitol. back to ashley and

to liz macdonald, melissa frances. testing of theream-stretch version 787. melissa -- you say a lot rides on this. >> absolutely. they obviously had a real challenge with the last incarnation. the battery problems. the fix was to put in a box that contained a fire. add-on fee of about that. yes, contained. it will all be fine. neil: i hope it's not next to that other box. >> i don't feel good about tha at the same time the stock did not suffer. this new carbon fiber plane. everyone is excited about the technology. i worry about fires and now they have another one coming out with an extra 40 seats to cook. i mean, to fill. >> you don't want to be on a plan where you feel like you could roast marshmallows over the battery. you don't want to feel like you are on a plane where there is still a learning curve about it. and adding another 40 seats to it. there are always technical difficulties, exactly right. typical of new airplanes. but boeing stock, for years, the dream liner, not in the upright position. as you can see here, popping and training. but it has be

cheryl: david asman, liz macdonald, sandra smith. thanks very much. happy monday.rybody got a piece of that one. one of the best in a hedge fund after an 80-year advertising ban imposed by sec. starting today now hedge fund can advertise. so can startups. the good and bad of it ahead. cheryl: as homer simpson would say, chocolate, hmmm. prices are heading higher. we're live at the cme to see how you can profit. take a look at energy. we'll be right back. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. cheryl: right now the dow down 4points. -@could be the third day in a rw down for the dow and s&p. i want to show you a couple sectors really geting a lot of attention, in particular, back to the banks. with all the chang

liz macdonald is still here.iz, you have extended family within the new york city fire department. your thoughts on this 12th anniversary? >> i don't like to-- i don't like when journalists talk about yourself as you don't, find it irritating, but my brother-in-law dug out his brother-in-law. he's a fireman and dug out his brother-in-law chuck on that eve, he's one of the firemen swept three stories down so we were grateful for that, but you know, i'll tell you something, there's another story here and the firemen's heart broke twice and so do the policemen and the people in the tri state area. it's because of america's heartland. and your viewers have despair that can bring you to your knees in the hallway or shower. but school kids, parents, teachers across the country took their bed sheets and took their pillow cases and took their table cloths and t-shirts and wrote messages to us, saying, you know, by the way, new yorkers have been known even before this to be cranky. the joke in my family is you have to tur

liz macdonald is on the store with developing news.activist group including union members have put out a statement saying the the new york police department has arrested three individuals affiliated with the protests in midtown manhattan, trying to bring a petition to co. board member christopher williams who runs an investment company, he is a board member at walmart. this is being treated not as basically firing up the letter is unknown with protesters affiliated with this. walmart coming the crosser business with a statement about the protests today essentially saying it is being orchestrated by handful of unions that the vast majority of workers are not affiliated in any way with the protests and a black friday protests after thanksgiving, just 100 walmart workers out of 1.3 million, those protests, wal-mart is saying this is made up primarily of union members, stores in 15 cities and made of union activists so we are seeing is tracking this story throughout the day from coast to coast protests being waged outside wal-mart stores i

liz macdonald, gary smith, what you guys have to say the consumer wants great products. >> that is applend that is grand theft auto v. >> it's all about electronics. and it is all apple right now. in apple's case, it is more of an evolution. not necessarily a revolution. >> one product that is hot i looked on amazon, they have a list of their hot products, it's called the google growing cast hdm eyes streaming. anyway, they say they can watch anything on their tv. >> people want smart devices. the same budgets were avatar or the harry potter movie. neil: by the way, it's the committal countdown. the world has arctic sea in our ads. people everywhere jazzed out. here is some of the reaction we are getting. >> i guess it has the sensation of how we'll really be operating. >> it's a great experience more than anything. >> it's interesting, i think. it's getting a lot bigger. >> i am a 54-year-old woman. >> look forward to it because they keep improving at. >> stand in line, young lady. with an advertiser like this, who can blame you? >> this monday, u.n. neil cavuto. u.n. neil cavuto. monda

liz macdonald, you know what we're talking about. liz: good to be with you. $920 million split between four major regulators. look at the fines, office of comptroller currency gets the biggest, $300 million and the federal reserve, the sec and the u.k. regulator and financial conduct authority, second-biggest line ever by the u.k. authority. let's talk about what the sac had to say, caustic in its wording slapping jpmorgan chase in the fine statement today, essentials saying jpmorgan agreed to admit to wrongdoing, there were agreed to breakdowns in controls and governance that misled investors. also senior management broke a cardinal rule that call into question the truth of what you disclosed to investors so misleading investors and regulators and the board audit committee, this scandal ramps up after jamie dimon and the fateful april of 2012 conference call, 10% and it campus in a teapot and we are full be transparent, comfortable with the trade and the senate committee came in and said after our program, jpmorgan chase was deceptiv

our liz macdonald all over the story.in business next week, fox news's judge napolitano weighs in next. he is trying to sort them out there. take a look at oil. sliding for some time and continues to do that but only marginally. we'll be right back. ♪ [ engine revs, tires squeal ] [ male announcer ] since we began, mercedes-benz has pioneered many breakthroughs. ♪ breakthroughs in design... breakthroughs in safety... in engineering... and technology. and now our latest creation breaks one more barrier. introducing the cla. starting at $29,900. ♪ if you have business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a rlity. start your business today with legalzoom. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. she took an e

david: we're back to the story liz macdonald is reporting on. she told you it could happen a week from now. now she has more details. >> citigroup telling fox business that they will lay off mortgage unit workers. they start with a thousand workers. places getting hit with layoffs, las vegas, nevada and irving, texas and more states. they say there may be more action by the end of this year. citigroup telling fox business they're not making projections for anymore layoffs next year in 2014. citigroup joining jpmorgan chase, bank of america, wells fargo, laying off mortgage unit workers as mortgage rates risen and refinancings dropped off. whether or not this is a typical boom and bust cycle for a mortgage unit remains to be seen. this is real indicator what happens when mortgage rates start going up. you may see more layoffs coming at banks if rates continue to rise. we'll give it back to you guys. david: emac, thank you very much. >> sure. david: meanwhile the terrorist attack on the upscale shopping mall in kenya raises some very troubling que

stuart: and now liz macdonald is with us and a few moments ago liz was saying we are going to see a rally in a couple of minutes' time. it's nothing to do with syria, it's about interest rates. the market wants ben bernanke to continue to print money and occurs to me that the market wants president obama to keep spending money and ignore the deficit. he's doing what the market wants him to do. >> stop pretending the market-- the shth ma moves faster. the government is like a turtle. they react, act, we've got world investors and something else, while everybody is talking about oil in syria, think about it. we're still the reserve currency, the best bet on the planet when all else is going to hell in a hand basket, especially when it comes to the cypruses, the greeces, france. look the a the countries and where the markets are moving. we are in it. stuart: we print more money, we spend more money and the market goes up. >> which is terrible for the measured american economy. and the economy is the strengths. stuart: i should be cheering on ben bernanke, print more money. i should be cheeri

now, liz macdonald has three things that could easily be cut from a 4 trillion dollar budget. >> maybe truly knows a thing or two. brian kilmeade was way off on this one. more on that in our next hour. moments from now you're going to see technology, how it's pulling in the money, apple stock zooming. stay right there. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ [ male announcer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... [ lock clicks ] ...that lets you be cloto home. that's so cool. [ male announcer ] get $100 in instant savings when you order digital life smart security. limited availability in select markets. ♪ limited availability in select markets. nascar is about excitement. but tracking all the action and hearing everything from our marketing par

and liz macdonald watched cnn and reports on it now. >> an ugly fight.k perry is taking it to maryland, they're looking at the job growth, worse than louisiana, alabama and he's fighting back. the maryland governor is saying texas has more poor people and lower median income and more people without health insurance. stuart: maryland has the federal government workers, for heavens sake. >> and texas a tracts a lot of people because of cheap housing and the weather, a bigger population, but for rick perry to bring this fight right to maryland shows that the debate really is how the state governors run their states and that's where the debate is an important debate. >> it's a nationwide debate. >> it's a nationwide debate. stuart: and the taxes and-- >> texas does rank worse for taxes on mature businesses, but maryland, and the maryland governor didn't say this, maryland ranks worst on taxes for new companies where texas ranks better. and so-- >> both of those governors want to be the president. >> that's right. stuart: i don't think either will do it. and

ranking democrat demanded aig ceo robert benmosche resign over controversial comments he made and liz macdonaldine. what is going on? liz: robert benmosche giving interviews to the wall street journal talking about the public outrage over the $415 million in bonuses paid at aig after it got the $1 billion bailout. and the outrage is about public interest to stir public anger and get everybody out there with pitchforks and hangman nooses compared it to what we did in the deep south. i think it was just as wrong that robert benmosche has apologized saying he didn't mean to offend anybody, poor choice of words, but rep elijah cummings, the ranking democrat of the house committee on oversight got him very upset comparing what is going on at aig to lynching, stabbing, burning where people were shocked in the deep south, here is what he is saying. if it is true he has demonstrated, quote, fundamental inability to lead the modern global company in a responsible manner and resigned immediately. dennis: he said something that upsets cummings doesn't mean he is incapable of running a big company. they di

and several issues to go through with our special person, liz macdonald. igns our real estate economy may be stalling. and rising mortgage rates. that's a fine we've got a housing problem on our hands here as we were expecting it to recover. liz, what's new on housing? >> what we're seeing is likely increase in mortgage rates, and freddie mac was reporting at 10:00. stuart: 24 minutes. >> it's trending now probably 4.7% and that means refinancings have been going down and reporting how citigroup is laying off mortgage unit workers and other big banks. when refinancing goes down, that's a bad indicator for gross domestic product and consumer spending goes down. when people can't refinance their mortgages to cheaper rates, they don't have the pocket book power that they have prior to that. stuart: okay. i want to ask you about the numbers that we got at 8:30 this morning. unemployment jobless claims, i was watching the tape. here it comes. 2 and what was it, 292,000, whoa, what a fabulous number, whoop dedoo, down 31,000 from the week before. >> yes. stuart:

liz macdonald investigating. is this happening and not? holiday shopping season and when news reports came out from bloomberg that they're adding inventory problems, walmart came out with a hotly worded statement denying those reports. walmart is saying the reports lack the fundamental understanding paula retail world works. and thousands of categories, but we false the way the reporting was that they're having inventory problems. i tell you something, wal-mart has already lowered its forecast for the upcoming quarter and looking at a holiday shopping season. and same old story we have been seeing about consumers but the thing with walmart so important for the stock, they do not want a repeat of the 2010 holiday shopping season where they have been selling inventory and real clearance sales in january so they are trying to nail inventory growth with revenue gains they are getting. cheryl: i remember what happened in 2009. they were stuck with floors were empty, they were so afraid to spend the capital up front and walmart's second half, you

hold on, nicole, i've got liz macdonald with that story.t in saying that a partial government shutdown at midnight tonight would affect the job numbers, big deal, come friday? >> it could affect. we have a 63-page memo from the labor department on what happens during a shutdown, meaning government furloughs, the second page they plan to layoff 2400 bureau of labor department statistic workers and have a skeleton crew. the neighbor department is they have not told the markets what it will do. release the information on the internet instead of having a lockup room with reporters. stuart: is it such a big deal? >> it is a big deal. stuart: one number which may or may not come out friday morning, the end of the week. >> the jobs run the market and we have a fed policy meeting coming up so that jobs data is important to the market. i'll tell you something, last time, 94, '95 shutdown, the government released the cpi, inflation data and when the markets had a rocky ride, watch this, they did react after the '94, '95 shutdown cutting interest rate

here is liz macdonald.>> that isi] huge. down theq initial 162.çg7ç starling,t( eye-opening. we this economyt(r hospitality,fá saying we want ti big mackt( truck jobs, manufacturing jobsq higher paid than the burger flippers. you are absolutezght, the labor force is beingq restructured. stuart:Ñilp 16-19-year-oldsxd md q a little but it went up, now over 20%.ñrçó another key obama voting block, which is not doing very well in the obamat(i] economy.eunç iúápáe "=lt up 13.3%jfñr from 1e they dropped out of the workforce, that is why participation rate went down to 63-point something or other%.r >> let me giveé@!u you this eye-openingjf number. we haveÑiqñÑi beenq moving the l reserve given forward guidance they will continue moneyq printing, looking out toward september 18 meeting,myq that s is expected to make an announcement to taper back the money printing. >Ñistuart: where showing of the ford motor company. they say the president and ceo will remainÑi through 2014 atp,d least.çóxd least.çóxd ould leave

here is liz macdonald and goes into what the exchange is going into effect in two weeks. 68% are worriedah, they're worried about it and this is a trend we've seen take hold the last two years and people worry whether or not they're actually going to be able to keep the health care insurance that they have prior to the law. stuart: yes, i don't think we will. i don't think i can keep my doctor, i don't think i can keep my health care coverage, i think a lot of people are in the same boat. one more on obama care. the baffling congress is heating up and it's now ugly. some democrats, some senate democrats are dredging up an old scandal involving republican senator david vitter because vitter is trying to weigh the obama care exemption for congressional staffers. he wants congress to be included in obama care. >> yeah, he wants congress to eat its own cooking by getting insurance via the health exchanges. this is what senator grassley wanted, to. and this is a ugn ugly thing, a old prosecution scandal to make him shut up. a prosecution scandal that he apologized for with his wife at his sid

liz macdonald knows a thing or two about real estate, does she not? so. >> and a price gain year on year. >> that's right. >> the recovery for housing is pretty much in place. >> looks like the highest sincing august of 2008. we're seeing april 2004 levels here, too, we wanted to know the biggest gainers? >> 20 cities to pick from, who went up? >> in this order, san francisco, los angeles, new york city is a laggard, down, but-- excuse me, it's only, new york city is only up 3.5%, stuart. stuart: and las vegas 27%, san francisco 24, los angeles. >> yes. >> up. >> a. >> an around 20, 21, 22% up for the three cities. >> i've got a related story and it's your story, citi is, they're going to announce layoffs to 1,000 people in the mortgage division. and you have the story. and suggested that the mortgage market was slowing down and that the housing recovery was slowing down. >> we broke this news on september 11th that there will be layoffs coming and what city is telling us, there could be more layoffs by the end of the year and can't project whether th

liz macdonald reporting 22,000 layoffs announced.have to look at that and say that is direct impact on the job market of our policies. they were reticent to do anything. connell: it is interesting and a lot of people were surprised. all these things you think about in hindsight it makes some sense. dagen: speaking of home sales numbers showing unexpected strength. the housing recovery is not felt everywhere. dennis: jeff flock is in rockford, ill.. talking about a place of our highest percentage of underwater homes in the nation, look at metro areas. jeff: i just talked to the mayor, if the fed was here, if it was the rockford said no one would be thinking about coming off of the stimulus. the mayor, a beautiful street here, this is what they call harlem boulevard, one of the classic st and beautiful homes, you are under water too. >> i had property under water, refinanced through the heart program. i am man accidental landlord. don't want to be but it took a long time to work through. it is a good tool for the right cases. it doesn'

stuart: oh, liz macdonald is here with the evidence that the president should have been reading.ou got. >> federal reserve, richmond, chicago, dallas, all reporting that health reform is having an impact on jobs. these are companies, local companies that report back to the federal reserve districts across the country. and also seeing companies like dana holding, auto manufacturer, medical device companies laying off workers, we're also seeing schools across the country in places like pennsylvania, california, texas, new jersey, either cutting or busting down to part-time status. also, cities in california, indiana, kansas, texas, michigan, also either cutting jobs or busting it down to part-time status. we're hiring more enforcers in the irs and hhs at the same time when we have schools, cities and companies laying off or cutting down to part-time status. stuart: our latest tally is 313 employers have changed the structure of their work force, cutting hours or staffing levels because of obama care. the president is flat-out wrong, but that's-- i think the evidence is there. all r

liz macdonald is with me as we move toward the opening of the market this morning. by the way, the prison of -- price of oil down 18 a barrel as we speak and the stock market, the dow futures indicate a loss of maybe 20 points at the opening bell. i think you've got some market history. >> yes. stuart: about the delay before any action, go. >> if they're talking about a 90-day debate over what is in the nation's interest in terms of the strike on syria, we've seen in the past the market reaction to the threat of u.s. actions in libya, the sudan and serbia, in iraq. the market tend to go down anywhere from 3 to 5% over that period according to s&p data and creft has been studying it. if there's action, the market rallies, this is over look at history. stuart: they're looking at situations we're facing now, an attack, yes or no in syria. down what was it. >> anywhere from 3 to a little more than 5%, for the s&p 500. stuart: as you build up to attack, the delay period the market goes down. >> that's right. stuart: when the bombs fly, the market rallies and comes back a

lori: so that said, the companies that are being added to the dow according to liz macdonald and herculations would have added several hundred points -- ashley: 500. lori: to the industrial average performance itself. i understand most people use the broad market average, s&p as benchmark, if the market could have been stronger, that much higher with those, it has to cause some interest and reshuffling invests obviously with index funds and the like? >> exactly. we're going to see a lot of mutual funds start shifting in and out of certain names and in and out of sectors to make sure they're properly weighted. yes, volatility in those stocks when they're added would have add ad lot more points to the dow than where we are. that is the fun bit. if we look back and inserted these names what the performance would have done. it is important to see how we wrap up here moving forward once we get these names involved. lori: jonathan, thanks so much. >> great, thank you. ashley: so well, maybe an apple letdown? two new iphones but so far no big surprises but we say so far. we'll get the final

liz macdonald broke the news on the last claim this morning and is here with more details. int to point out, the rates have spiked dramatically higher. so quickly, that is the issue and revise in june 2009 levels, citigroup, insider selling fox business 2200 mortgage workers could be laid off by early next year following cast on the heels of banc of america's a and 2100 workers, wells fargo's sage and 3,000 mortgage workers and jpmorgan chase, a 15,000 workers. the question is where will the lie out happen? could spread across consumer branches across the country as has been happening at jpmorgan chase, texas, florida and new york. cheryl: you also say there could be more, the number could actually rise. cheryl: more than a boom and bust cycle of mortgage hiring and layoffs. they're worried about 4.8% mortgage rates, and citigroup's c e o moving after, he said that they are concerned about refinancing, they have been talking about restructuring, the second quarter conference call already making theft to resize the mortgage business correctly. also got an e-mail from an insid

liz macdonald is all over the story.'s look how the doll is moving today against these currencies. generally it is wker excpt against the euro. the euro is down a pit at 134.95. oh, yes, angela mk back for another fourears. tracy: oh, yeah. asey: rest of the currencies you can see moving higher against the good ol'.s. llar. we'll be right back. capital to make it happen? without the thinking th makest real? a's vision witut the expertise to execute it... and the financing toake it grow? whatever your goal, it can change more than your business. it can change the future. that's why,t barcys r ambition is to always realize yours. that's why,t barcys nascar is about excitement. but tracking all the aion and hearing erything from our marketing partners, the media and millions of fans on sial dia can be a challenge. that's why we rtned with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweet postand storieinto real-time business insights that help nascar win with our fan

ashley: liz macdonald, great stuff. >> sure. ashley: coming up, regulating e-cigarettes. tom horn joins us and tell us why he is working with other states to push the fda to take action. tracy: first we have some winners and losers on the s&p 500 right now. autozone, up 2.75%. fixing their cars. dow is down 44 points. we'll be right back. howdy partner. you're not linda. i'm filling in for officer owens. she used double miles from her capital one venture card to take an early vacation. buckle up. let's go do cop stuff. [ siren chirps ] license and venture card, ma'am. was i going too fast? oh, you'd be going twice as fast if you had double miles. [ male announcer ] get away fast with unlimited double miles from the capital one nture card. freeze! don't touch the face! can i drive? absolutely not. what's in your wallet? folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero hear

liz macdonald has the bottom line on this, the latest chapter. >> we have sources inside the bank, they delay of filing the suit by the california attorney general. that news we broke about three weeks ago between the federal government. this california attorney general move is part of that obama administration task force where he has new york attorney general eric schneiderman also suing jpmorgan chase. and what the california suit is about, violations of securities laws, that basically relate to the no doc, no-income loans andality-a and subprime, mortgage-backed securities. what is striking about the california suit against jpmorgan chase, this is worth noting there's a criminal probe at the same time going on in the state. so we're talking to insiders at the bank. so the states are using criminal probes to get the bank, leverage the bank into settlement talks. so that is, an important headline. when you look at the breakdown what is happening with jpmorgan, just over the mortgage cases alone, let's look at it, you will see california is taking on jpmorgan chase over jpmorgan chase's

liz macdonald as the bottom line. >> he raise this to an art form a few listened to his press conference is transparent he says things that rattle people but here is the thing, wall street journal reporting here is the deal. any fed nominee has to get through senate banking, democrat of a two vote majority on senate banking, three top democrats on senate banking are likely to vote against larry summers. elizabeth warren of massachusetts, sherrod brown of ohio, what is the problem with larry summers's nomination? the word is they don't like the fact that he has lucrative ties to wall street, gets a lot of money from speeches and the like, that he has backed the repeal of glass-steagall and now the word is the focus may be back on janet yellen, the vice chair. about a third or more of the democratic caucus in the senate sent a letter to the president in july saying please choose janet yellen for the top job at the federal reserve. >> especially elizabeth warren, she knows nothing to the obama administration, she is a senator because they didn't follow through with her. the won't inventor t

macdonald. >>> good morning, everyone. it's friday, september 20. i'm michelle griego. >> i'm brian hackney. frank has the morning off right now. it is 5:00. >> let's get to liz right now. there's some breaking news in san francisco. >> there is. and they are shutting down streets. there's a large police presence in the area near san bruno avenue so they have had to close several blocks of it we understand. so the latest closures felton street. we have launched chopper 5 to check the scene and get more information as to what's going on. but it is close to 101 and there is a southbound 101 ramp in the area that's closed including muni number 9. all other mass transit is on time. all the other freeways off to a great start. here's a live look at the san mateo bridge. the commuted is under way at the altamont pass and the livermore valley. here's lawrence with the forecast. >> so nice yesterday, now things changing rapidly. the clouds gathering outside. we have a cold front that's headed to town and it could bring some showers to the bay area. you can see just off the coastline there. going to be a slow move so not going to get here until later on today and not