if that's not enough, the london stock exchange is playing host to russian business leaders. that's a first on cnbc at 10:40. but first, as you might expect, u.s. senate leaders are preparing for a last ditch effort to reach a deal to avoid a senate default. harry reid and mitch mcconnell have essentially finalized their plan. the senate reconvenes at noon and both men will brief their respective caucuses. house republicans fought for their two separate bills. the conservative group heritage action opposed the plan because at the didn't do enough to roll back obama care. now it's suggested that under the senate proposal, the government will be funded through january 15th, debt ceiling extended until february 7th and a committee would have until december 13th to welcome a new round of spending cuts. while this is all going on, fitch has put the credit watch on negative warning. it's citing the political brinkmanship. the u.s. treasury department spokesman says fitch's announcement reflects the urgency for congress to act. china and japan, the biggest debt holders of u.s. debt,

s voile meltdown descends on the day of trading on the london stock exchange. legal metals dispute a swiss school which has ordered to tadic company tell quite to pay roussel subsidiary investing limits it's a two hundred seventy five million dollars legal see the cool part is how ms claimed that the tactic company had breached supply agreements made in two thousand and three ok it's that time of the service big time i saw in-house investors see what he's been up to and i go and. i'm really impressed with your dedication so i like it your way and all of that you'll still try eating but i wasn't asked last week when our business and it's one o'clock in the morning here in arizona but that's not going to stop me i am dedicated to venture capital and you know what i got to make some money i have to break even so i'm going to keep on working until i make ground zero that is the attitude we like it so how you doing that and how you putting that into practice well the good news is i'm up over a bit let me tell you i'm going over let me tell you how this happened last

the royal mail on friday opened on the london stock exchange and shares were quickly gobbled up. the opening share price off 330 pence, or about 5 dollars 27 cents was bid up for a nearly 40 percent gain for the day. shares closed at 455 pence, or 7 dollars 27 cents. opposition politicians accuse the government of setting too low a price for the inconic institution. it was the country's largest privitization in years. other former state owned companies are british telecom, british airways and bp. retail sales grew modestly in september, but missed estimates. same-store sales were up 4 percent, slightly lower than expected. unseasonably warm weather, the threat of a government shutdown, and the looming debt default are to blame for slow sales. drugstores and discount chains had higher sales, with walgreen sales up more than 7 percent and steinmart showing a 5 percent rise. analysts say spending on big ticket items, such as cars and household appliances, is strong - but could leave wallets lighter heading into the holiday season. damaging publicity of brutal working conditions and

descends on the day of trading on the london stock exchange. legal metals dispute a swiss school which has ordered to tadic movement company tell quite to pay roussel subsidiary investing in them it's a two hundred seventy five maybe in the stall that legal see the cool to tell his claim that the tactic company had breached supply agreements made in two thousand and three ok it's that time of the big two mr thomas all in-house investors see what he's been up to and i go and. i'm really impressed with your dedication so i like it your way and hold it that you'll still try eating but i think that's absolutely our business and it's one o'clock in the morning here in arizona but that's not going to stop me i am dedicated to venture capital and you know what i got to make some money i have to break even so i'm going to keep on working until i make ground zero that is the attitude we like it so how you doing that and how you putting that into practice well the good news is i'm up over but let me tell you i would not over let me tell you how this happ

. >> the london stock exchange. >> just launched the islamic market index, which will identify companies that cater to islamic principles this is the first of its kind for a western country. >> yeah, this is a big deal. how do you make a stock index based on a fundamental principle that money doesn't have intrinsic value. so you do that by linking it up to stuff that has instringic value like machinery, like land, like stuff. so no stocks no fancy auction and futures and funky instruments that the stock market uses. this is simply on financial prescription. s. >> for a western country to be doing this, what does this say about the strength of muslim invest. >> it is huge right now. this is not a political statement, this is where we are looking at islamic finance booming. up 50% compared to traditional banking. there is going to be $2.1 trillion i believe. in funding coming out of the muslim world, and london wants it to be with them. >> they want to be the hub outside -- >> so help me with bit coin, please. everyone from ali valshi so now you are talking about bit coin, what is bit coin

the mail debuted as a publicly traded entyty on the london stock exchange, did well. the royal mail 500 years old, it's been in the hands of government till now. our own postal system run by the u.s. government but financially independent has been running into its own problems and there have been various calls to do the same to privatize it. let's check the american stock market. they shot up thursday on news the two sides were willing to solve at least the debt crisis. hampton pearson is in washington, d.c. good morning. >> scott, how you doing. love that zuckerberg story. must be nice when you can buy your own dmz. looking at the stock futures pointing to a flat open after stocks spiked on thursday on hopes a deal to end the government shutdown and avert a debt default might be close. the dow, nasdaq and the s&p 500 posting their second best gains of the year and erasing all of this week's losses. we get data later today on consumer sentiment and earnings from banking giant jpmorgan and wells fargo. the dow soaring 323 to close at 15,126, the nasdaq rising 83 to clo

several companies, including payne's, are traded on the london stock exchange and pay british taxes.culated that were america to have regulated this industry in 2004, the american states would have earned $1.2 billion in tax. >> if it were legal, could they tax you? >> absolutely. >> a british company? >> absolutely. and we would pay it, and we have volunteered to pay it, because this is an industry that has to be regulated. >> mgm/mirage's lanni believes it will be regulated. when? >> oh, i wish i would ask you that, if you can tell me when. i don't know. i think it's when an enlightened president with an enlightened attorney general says, "it's legal in all these states. we tax it. we regulate it. let's do it, and let's do it for the internet." >> put yourself ten years forward. you think people are gonna stop gambling? >> [giggles] >> seriously? >> never. >> do you think the internet's suddenly going to go away? so what are we going to do in ten years time, when this industry is ten times bigger than it is today? and i often say to people, "please give me one solid, plausible argu

alibaba could still be listening on the london stock exchange to raise about $105 billion.re are now reports that suggest high level meetings have taken place between alibaba and officials. if it happens, it will be the biggest ipo in britain in years and the biggest ipo globally since facebook's listing since 20123. mean wile, japan is going global and it's starting fairly early. we have the story from tokyo. >> hi, ross. yes, the nikkei is reporting that japan's ministry of education is planning to make english classes mandatory for children in the third grade to better prepare students for a globalized world. currently fifth graders are taking this class as a curriculum. but its focus is mainly on games. when they enter the fifth grade, english studies will include reading and writing and will be given grades. one of the challenges will be training enough english teachers as the ministry ames to bring in the new curriculum by 2020. back to you, ross. >> that's interesting, mikuko. where do they start at the moment? what's the change? >> they start at the fifth grade and

england shares of royal mail, the british postal cerus surged on the first day of trading on the london stock exchangegued shares will be priced too cheaply retaining 30% stake in royal masse. that is the latest from the fox business network giving you the power to prosper. [ female announcer ] who are we? we are the thinkers. the b jugglers. the up all-nighters. and the ones who turn ideas into action. we've made our passions our life's wor we strive for e moments where we can say, "i did it!" ♪ we are entrepreneurs who started it all... with a signature. galzoom has helped start over 1 million binesses, turning dreamers into business owners. and we're here to help start yours. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie mak. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ connell: you have probably never knew this happened but realtors and t

there's reports in the ft this week that they had been having discussions with the london stock exchange. well, london doesn't welcome duel share companies, either. but generally, they don't welcome it and that's i think why manchester united didn't list in london. it went through america so it could have second class shares. i think america remains the odd one out. and in the end, alibab a might well choose to apply and comply with the hong kong listing rules. >> how likely do you think that is? >> well, they can make their own choices. if retaining control is so important to them, they can go to america and use an ab share structure. on the other hand, if they want to be in what is basically a market without the litigation overhead that you tend to get in america, then hong kong is the place to be. i can't make that choice for them. but i think it would be a welcome market for them if they're willing to comply with the rules. >> that may be why it will take a little longer before we see the listing of this ipo. >> i think tier taking time to consider what those choices are and coming b

share the royal mail, the british postal service surged 40% of first day of trading in the london stock exchangeued shares were priced too cheaply. the british government will retain a 38% stake in royal mail. that is the latest from the fox business network giving you the power to prosper. sec public-school budgets, across the budget and taken to the internet, to get students, and the double lot of cash for basic things like peer, pens and notebooks. according to the national schools of lady could association, teachers and $1,000 per year of their own money on put classroom supplies and now strangers are shelling out generations through a crowd funding website designed specifically for teachers, donorsjus'.org. a nonprofit organization started by a former new york city teacher who created the website where teachers post wish lists called project. in to get the ball rolling that anonymous the donated to the project which quickly created a buzz among teachers. take a listen. >> we consolidate that project before posting to the public site and one project is funded we cannot get -- we fulfilled th

right outside the london stock exchange, we've seen protests being staged by the communication workersob security, pay and they're nervous they could get squeezed given we are seeing a privatization of this magnitude. they call it the great mail robbery. the secretary of the union shared his thoughts saying he thinks the deal is undervaluing royal mail by as much as a billion letters business has been seeing less and less business one of the units questioned. but trading beginning on october the 15th, kelly. so lots to watch out for next week as well. >> right, and so many people here will be looking at that as they consider the future of our own postal service. louisa, say hi to everybody there and have a great weekend. still ahead starbucks ceo howard schultz is urging lawmakers to come together and get a deal done. is it on the company's daughter. shareholders are weighing in via twitter. here is a tweet. i couldn't care less if he takes out 400 ads. the man creates value when he sleeps. david, want to comment on that one? >> well, no. we spoke earlier about it. there are some impas

stock exchange and jane king. >> first, extra ferry service because of the bart strike. next, we will have a report from oakland's jack londonare with a >> covering benicia, san ramon, san mateo, and all the bay area, this is abc7 news. >> 6:47. we will give you a look at traffic outside on the corner box we are using. you can see our engineer driving toward the bay bridge area and we will see problem spots all morning with extra ferries that we will show you dealing with the spillover from the bart strike. abc7 news reporter, nick smith, is in oakland at the ferry landing there. nick? >> the spillover is over my shoulder. many of the commuters got out early because they knew with the strike extra people would be taking the ferries. we have seen 200 or so people board each ferry headed over. most of the commuters have a clipper card. others learned they had to blow -- buy a ticket it before boarding. most of the people here have had great attitudes about this. they knew when the strike went into effect they had to make plans to commute to the city in different ways. the extra ferries have come in to good use. usually they ha

having a ripple effect at stock exchanges all around the world and your 401(k) and other investments, they could take a beating. for that angle of the story we're joined from london by the host of "worldwide exchange" ross westgate. right to this. the markets have been down several days in a row, monday was no exception, the dow is down 128 points. how is this shutdown affecting futures? >> well, now that we've got the fact of the shutdown our markets feel fairly comfortable with it. european market have gotten higher and futures indicating are the well and be the same as u.s. opemarkets open around 2:3. markets like to build in the price of something happening and buy it when it happens. the key, though, from here, betty, what happens. how long is this shutdown going to be? how rancorous are they going to be and when they're supposed to be raising the debt ceiling, that will be something that worry investors, if there looks to be problems with that we look to get a sell-off. >> goldman sachs says a shutdown could cost the u.s. economy 8 billion a week. what are investors zeroing in on? >> reporter: i think it's what you're talking about. it's how big are the div

stock exchange disrupting the markets. more jpmorgan chase has agreed to take $100 million to settle regulatory charges to the bank's londonal last year. the settlement with the commodity futures trading commission jpmorgan admitted its traders act aggressively. mortgage applications moved by 0.3% last week according to the mortgage bankers association. 1.3% the previous week. that is the latest on the fox business network giving you the power to prosper. cmgroup can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader . cme group: how the world advances. >> dirt deals struck in the senate, peter baring that the white house with latest. >> we are awaiting white house comment on the deal brokered in the senate between harry reid and republican end -- mitch mcconnell. the briefing at the bottom of the hour, 12:30 but obviously it appears they were waiting for these 4 statements that you aired. we are told that jay carney will address the bipartisan compromise at the top of his briefing, the white house has been behind this senate effort from the get o as hous