up, manus cranny is from westminster. the ecb latest rate decision is due out later today. >> the european business correspondent: hide -- caroline de. >> the u.k. counselor will deliver a statement later today. u.k.mes at a time when the is the best-performing economy. manus cranny joins us. he will be delivering the autumn statement. the background that is improving. is it cold where you are? [laughter] it is a bit snippy -- nippy. georgeocus on what that theater of politics will happen in parliament behind me. mr. cameron was in china. is aboutring -- today politics. it is about economics. it is but the middle class and democratization. you have got manufacturing and carney talking about the recovery here. get -- later on today. these are quite significant. existence. belong in this would be the first time they have upgraded their outlook. what are we expecting? well, it is going to be we are expecting the largest upgrade in the millennium. we are warned the job is far from done. and will say this year, 2013-2014, they

i want to start, manu, with liz cheney.teresting in this race, obviously a lot of conversation about why would she be challenging incumbent mike enzi? just this last week her sister, mary, was speaking at a fundraiser in indiana that was -- she was arguing in favor of same-sex marriage which seems to suggest that that spat between the two of them is not going away and may, indeed, stay fairly public. >> that's right. this has been sort of a distraction for her. at least in the national media. i think that she has calculated that even if this happens, the national media is focused. wyoming and wyoming primary voters may not be as focused on this. a lot of wyoming republican primary voters oppose gay marriage. maybe she's on the right side of the issue among that electorate. the bigger problem for her is going to be the fact she's lived in -- most of her life in virginia. she recently relocated out of wyoming. and mike enzi is seen as a guy that's generally likable, both among the republican establishment and among wyoming re

that is highly unlikely. >> manus, thank you. manus cranny there. for more on the u.s., peter oppenheimer is still with us. thank you so much for sticking around. we were talking about the risks you are seeing for 2014. you mentioned too, one was the fact that with this tapering we could see moves in fed funds. the other one was that profits may not follow fundamentals. fundamentals are not there to -- for profits. is that worldwide or the u.s.? >> generally worldwide. there is a big expansion of evaluations over the past year. we believe that we're now moving into a phase where really you're likely to see valuations remain more stable and the markets driven by profitability. the u.s. is more vulnerable. profit is already at a record high. so are margins. so are sales. we they we're not likely to see much margin exfrangs here. so the driver to earnings has to be top line in growth. we're looking at 8% growth next year for the s&p. that is below the profit growth we would have been expecting in europe, asia and japan. >> what is your best plan for 20

manus, thank you very much indeed. manus cranny talking to us about the labor news him liberty on liberty global. moving onto travel trends. in the past couple of minutes, the international airline transport association has raised its global airline profit forecast for this year and next year. they always do. ceo and caroline hyde joins us now with more breaking news. >> quite a lot left for next year. a 40% increase in profits for the airlines. noticeably, it is not the increase in the passengers numbers that would drive it forward. it is the efficiency of these companies that are coming in. sales are not really changing the much, according to representative of 240 airlines. passengers are going to be increased and cargo and trade are still very slow. rounds in thede 2014, you'llr 2013 likely see cargo decreasing. sales will be stagnant. profitability will be improved. that is because of jet fuel prices. jet fuel prices are coming down and there's consolidation in the market. you are seeing companies with capacity air

. >> manus cranny with the latest on the markets. interesting that a lot of people are saying that it is priced in. joining me to discuss the possible december taper is the global head of equity trading strategies at citigroup. thank you for joining us on the program. nce thatct a 50-50 cha they do something today. between december and january. the comments will be very interesting today. andhey start in december make long-term rates lower? do they put a message with it, we are going to keep rates low? do they say, we are going to come in january, but here is the plan? that it is priced in, at least into the core markets. june, we were a lot lower. we came back down and went back up. it looks like the market has digested it, at least on the bond side. >> give me a sense of what packages could accompany, either talk of a fed taper or a fed taper. when they change the threshold, we are going to look at other policies that may help the fed with what it is trying to achieve. >> most likely, they will talk about the size of the tapering.

manus cranny is looking at the story. talk us to the story, manus. >> it comes down to chelsea kit. adidas.ld by th it is a valuable commodity for retailers and adidas. adidas has stopped are going to stop supplying chelsea kits. basically, you go in for great bargains. it has everything there it has a billionaire owner, mike ashley, who if you read the front of the sunday times is urged by the fact that adidas could be perhaps casting aspersions on the scruffy nature of some of his stores. it has brand association, does adidas want to be flogging the kit through sports direct. it is price competition and control and alien or status written all over it. so with that in mind, the story goes now that so emerged is mike ashley that he may be seeking to build a stake in adidas. i don't know. >> he is a billionaire. what we know about him? >> he's a really self-made guy. i know him through industry over the past 10-15 years. i met people have done business with him. boisterous man who likes to make his presence very well felt. he owns newcastle united, huge football team in the premiersh

. >> manus cranny with the latest on the markets. our next guest sees opportunities in emerging markets and equities. for more on where he sees value, let's welcome bob parker, senior director at credit suisse asset management. 2013 is going to be a good year. everyone is saying it will be a good year. described 2014 as a calm year, almost a boring year. what does one mean by that? i think it means three things. first of all, the risk of a major sovereign default is very low. some debtng to have restructuring of some stressed countries, but it is not going to have contagion or risk on the global financial system or economy. secondly, the risk of a major bank restructuring or failure is also very low indeed. the third point, which comes back to my point, perhaps we are being a bit complacent, but i think not. the third point is that the growth data is actually going to be reasonably good. andook at the united states growth could approach 3%. the eurozone is out of recession and will stay out of recession. german growth will be a very

let's go back to manus cranny. indeed. we have jonathan with me and he is the director at the national institute of economic and social research. it is great to have you with us this morning. growths the upgrade to for the first time in a wild. that three years ago, they had growth that told at seven percent and the plan was eliminated. >> we are nowhere near that. what happened? bad there is a mixture of bad policy. >> are you happy with what you are seeing coming? in the short-term, we have a recovery. that is good news. we should be pleased about that. at the moment, there is consumer spending and, while, in the , any recovery is better than nothing. we still have to worry about the long-term. >> i'm concerned about the gimmicks that are going on in the politicking of parliament. inre is a sound position terms of that, are they always tinkering? >> absolutely. the labour party is capping energy bills. the government has its own ridiculous gimmicks. i'll of this is bad for energy policy. it is a long-term regulatory fram

stay with "on the move." ♪ >> i am manus cranny in london. "on the move" on bloomberg television, streaming live on bloomberg.com, your tablet, your phone and any windows phone. we do it globally. we have had to drug company does today. almost $7 billion. joining me now to break down the deals, he covers pharmaceuticals at bloomberg industries. he provides the research and data on all major sectors. you guys put it in english. that stuff about these deals. we have bayer going after al qaeda -- algeta. why now? what is driving these deals? >> first of all, there is a lot of stuff on the move. we have these two deals, a lot of them have been presaged if you look at some of the news flow. we expected astrazeneca to continue its deals. this is but they have been talking about. this makes a lot of sense. this relationship they have with chris myers, it is converting itself to a pharmaceutical company much more focused on specialized tech products. more mass- a much market type disease. >> it fits nicely. >> it fits for them and it helps them conti

manus cranny is looking at the u.k. biggest consumer electronics retailer. >> the big interviews coming up. all a bloomberg television this morning. a new development in the debate over extending airport capacity and the u.k. list ofout his short options for expansion. we will be speaking with him on "the pulse." his reaction. both of those interviews on bloomberg. >> european finance ministers are meeting and brussels to try and agree on a bank resolution mechanism to deal with future crises. david tweed is an berlin. it used to be mario draghi concern it would be complicated. >> is my job to explain simply what the plan is. there are two aspects. one is a banking resolution mechanism. the problem is according to dragic it would be administered by a board made of representatives and created under existing european law. there is the resolution fund. the proposal coming from germany is that font instead of being, lee financed would be created -- fund instead of being finance by individuald institutions. draghi said that

manu raju. dan, let me start with you. it's interesting. this year ends to me in the same way -- a little bit in the same way post deal with the tax deal 2012 ends. with the asusumption of, okay, e got through this. this means we might have a productive six months legislatively. well, to 2013 was not productiv. let's not pretend that it was. does this mean 2014 will see some deals on immigration, minimum wage, stuff like that? >> chuck, i think history says no. we had a flurry of activity after the 2010 mid-term elections in which the president had quite a good lame duck session and came out of that thinking maybe in 2011 we can get some things done. they couldn't do that. last year and the fiscal cliff. prelude to this year. i think we should not overread end of the year agreements. >> susan, are you there on this? >> i am filled with the christmas spirit. and i think that -- i don't think an immigration bill -- i mean, i think that goes too far. but could we have an easier deal on the debt limit? could they finally pass the farm bill? cou

back to you. >> manus, thank you very much, indeed.ranny running you through the corporate movers very at >> christmas early for beyonce fans. released at surprising new album with 14 songs on itunes. z, drake, justin timberlake and more. ♪ . >> welcome back to "the pulse." these are the bloomberg top headlines. >> u.s. house has passed the first bipartisan budget in 40 years. the budget removes automatic spending cuts including almost $20 billion in cuts for military start next month. the senate will vote on the bill. president obama says he will sign the final measure. north korea says it has executed un forcle of kim yong- treason. use the most senior figure to be purged since kim took power nearly two years ago. european union has offered ukraine funds to overhaul its economy and says cash would be available at the countrysides a free-trade pact with the eu. ukraine's president triggers the biggest reproach us to nearly a decade by backing out of an agreement last month. >> but stay with the theme of the ukraine in the battle for t

manus cranny has the latest. what did we learn from the numbers? they are doing pretty well. >> the stock is up 83%. it was the leader at the open. as with all good stories, somebody out there in the market making land has decided to take this stock lower, i think on the margins. it is number one here in the u.k. and number two around europe. focus on the u.k., sales up nine percent. where they ares focusing as well. like for like sales up, but nowhere near as impressive. falling, but they are making headway. you look at the product range and he has got everything in their from tablets, a fantastic christmas in the marketplace. it is about the experience. i have been in one of these for challengey technological advances like myself, using the hardware and the software, getting lessons and finding out about services. it is not just about show how, it is about know how. the stock being marked down ever so slightly. margins seem to be where the market makers are focusing today. >> it is a good run. i do not think it is that dramatic to see the drop we

manu, ruth, always great talking to both of you. thank you. >> thanks, chris. >> thanks, chris. >>> checking the news feed this morning, the sign language interpreter controversy from nelson mandela's memorial service just keeps getting more bizarre. he's blaming schizophrenia for his unintelligible gestures and says he saw angels coming down into the said yum that day. what was scary was his proximity to world leaders, standing right next to barack obama, for example. >> sometimes i will get violent in that place. sometimes i will see, like, things chasing me. you know, i was in a very, very difficult position. >> and now the owners of the company that supplied that interpreter, according to the bbc, have vanished. >>> a 19-year-old student at a college in new york is dead after an apparent hazing incident. police say he was taking part in a ritual where pledges walked blindfolded and weighed down as others tried to knock them over. den was taken to a hospital with a head injury where he later died. the fraternity, pi delta si, has

. >> manus cranny with the market report. pulse",p with "the america calling for surveillance reform. >> we will be back in a few minutes time. ♪ >> good morning, everybody. welcome back good you are watching "the pulse." i'm guy johnson. let me walk you through the bloomberg top headlines. angry protesters in the ukraine have torn down a statue of lenin and demanded a new government. they want to keep up the pressure the president who has rejected close ties with the european union. speculation that the president will sign up for a russian led trade bloc has cost hundreds of thousands to pour onto the streets again this weekend. japan's growth slowed more than initially estimated in the third quarter. business spending contribute to the downward trending gdp. in a sweep of interviews, they told us he wanted companies to increase wages faster than inflation. china's surplus widened last month to $34 billion. that is the largest number in more than four years. exports topped estimates and rose more than 12% from a year earlier

much, ourou so markets and are manus cranny. you chancellor osborne's autumn statement at 11:15 london time. followed by the bank of england rate decision at noon london time, you can watch both here on bloomberg. american brands opening their doors and london. the latest is how where company westbound -- homeware come in the west elm. caroline hyde went to met the ceo. u.k. the talk of the economy turning around. >> yes, we had j.crew coming as well. i talked to the chief executive of williams sonoma. is it the property boom and everyone wants to redecorate this is aes? she said long-term plan. >> we have international expansion plan. around the world, our ram -- our brands have unique at tributes. in locations like london, people are interested in having other options to decorate their homes and entertaining guests. we found this great location. it was the right time for us to come. we watched in australia with four of our brands, pottery barn, pottery barn kids, williams sonoma, and west elm. that was our first foray into com

manus, thank you very much indeed. manus cranny joining with us swish.esident putin and the you're rainian president have struck a deal, channeling russian financial aid to the ukraine. this comes as the ukrainian president gap he wills with the biggest process in the country since 2004. ryan chill coat has the details. we can't know what ukraine is getting. what's russia getting? >> it's not immediately clear. what obviously president putin would like ukraine to do is join russia's trade union, and, you know, they were asked about that at the press conference after they struck this deal, and they both smiled and said e dent even talk about it. a lot of people on the street are skeptical of that. they say there was a deal n. y case, what president putin is getting is an ally. there's an election there in 2015. it would strange of him to take $15 billion off the russian president and not pay it back with some political allegiance. the ukrainian president gets the $15 billion bailout. russia is going to start buying bonds this month, and he gets cheaper ga

thank you, manus cranny.nson and i are back with "the pulse," which is next. ♪ . . . . >> montclair magid debut. we are alive with the maker chairman and shares soar on the first day of trading. relating -- the lady in waiting. >> going shopping. walmart and facebook gear up to use face recognition. they will get a hand in setting the rules.

let's get straight to manus cranny with your asset check.entiallyrkets uncertain on which way to go. france rising, pain rising. in the u.k., things under a bit of pressure. you waiting for the china dated to come through tomorrow. wave of negative sentiment, risk aversion sweeping through these markets. gmaking of australia, getting ready to exit australia. the aussie dollar coming lower. sell into the rallies seems to be the consensus. you have a 20-day moving average. i know you have all gone to sleep. that is the level to watch in terms of resistance. back to you. >> up next, a bloomberg excuses. -- a bloomberg exclusive. we are speaking to the ceo of orange. he joins us to talk about the industry and how he is looking to grow his business. just a reminder to follow both of us on twitter. we are back in just a couple of minutes. ♪ . . >> good morning. welcome back. ."u are watching "the pulse we are live from bloomberg's european headquarters in london. these are the bloomberg top headlines. u.s. budget negotiators have unveiled an agree

our markets editor manus cranny.e will start with you. >> we have conducted the lubeck taper poll post jobs. december, 40%y say march. that is down from 53%. i think a lot of people will say the consensus still around march time. can roulette january, either. you.hn, thank caroline, and news, hsbc are the biggest corporate news. >> it could be spinning off its u.k. retail unit. we know that is high regulations in the u.k. kicking in. vickersy with recommendation that you separate retail banking. could this be worth 23 billion pounds e >> watch out for hsbc when the stock market opens in a few minutes. >> today's the day when 300 of them have to make up their minds. you cross the line and get into bed with the -- of justice? this is what the swiss authorities and regulators are encouraging the swiss banks to do, francine. if you don't do it, you face potential criminal litigation from the department of justice. noma whistleblowers. it is all about tell the truth now or pay the price later. >> we will have a big focus

manus? i love one. >> he is right.ot a photograph. >> you have to do a funny selfie. >> a of lighting and camera work. what we are doing. a let's check in on the markets. the your interview with andrew wilson was quite depressing. what matters today and six a month's time. -- quite depressing. for me that is the most emphatic statement. i think actually buried in the conversation was a really important online in terms of the view of the markets which is the momentum in the united states. 3.5% and the fed will be forced to hike early in 2015. >> something to think about. with bloomberg television. we are back with the pulse. that is next. ♪ . . >> roger runway. the u.k. air force commissioned banks expansion of the busiest hub. howard davis.th >> cashing in hong kong spurs. european car sales rise for a third straight month. >> and making a mess. mario draghi warns politicians that plans for a banking union look to come located and underfunded. complicated and underfunded. good morning, everybody. we are live from bloom

manus is here to break down the numbers. what drove the numbers?the right product and squeezing margins higher. your speciality products. unique. they said we interact and won't more. that fills the margins. that is doing better. also doing quite nicely and the u.k. and nordics. it is where they are beginning to build the margin. if your shareholder, you get a nice up left on the dividend. ift on the dividend. they are carrying more people in the u.k. and nordics. .hey are building the margin they had a pretty good set of numbers recently. we are seeing margins above 1%. and if it works and they are selling more holidays directly to you on the web and that is really about delivery mechanism and it does not cost them as much. east germany, that is their biggest markets. they sought numbers follow but they boosted their margins overall. that had probably the past, what to do they say? >> still economic issues. egypt, where a lot of french want to go to my that are open for business. they took restructuring charges. they are tackling that. >> what did

our markets editor, manus cranny.ashing in on theg the backdrop for being location for "game of times." -- game of thrones." it is easy to see why the city has been a hit with tv crews and taurus. is thetected town location of "gamee of thrones." a game of firms walking tour. she draws crowds from a cloths -- across the globe's. a lot of people who know about that introduces them and they want to come here to see where it was filmed. vnik's history dates back to the middle ages. more recently, when yugoslavia , it was in the 1990's shelled. the city wants to restore its place on the global taurus map -- tourist map. the online dating site, zoosk is hoping to woo investors. they're trying to follow the footsteps of twitter with the u.s. offering. than 4000 similar services, competition is fierce. matt campbell joins us with 's plan to goosk public. this is another tech ipo, or is it? >> this is smaller than twitter. they have something in the neighbor of $40 million in annual revenue. this is not a world trading -- wor

manus cranny for more details on what lies ahead.as always their own independence and fighting for it and going it alone. that is what this is about. they're ready to look after themselves through 22015 they are doing it without the -- to 2015. less oversight and mario draghi says it is a good thing. the bond yields and ireland were 14%. to 3.5%.w sometimes it is better to have belt and braces rather than just braces alone. market is warm toward ireland at the moment. how will be focusing on does ireland deal with the property mortgages? ireland $1ting billion per year. little bit of goodness -- they have taken out $5.9 billion from a bailout. we will continue the conversation about ireland after the break. our exclusive interview with michael noonan. is what istime, here on our radar. japan's prime minister has called with a summit -- for a summit with china. he says the relationship between tokyo and beijing can never be severed. >> the port of hamburg has been closed as a powerful north sea storm moved ashore last night. london al

market editor manus cranny at the touchscreen with more. >> a rather spirited turnaround.take an overall complexion of what is going on, manufacturing is expanding across the region. not doing so well here in france but whatever happens up germany in theory should be good for the rest of europe because a growth in the heartland of europe which permeates across the rest of the european nation begins to rebalance. that would be the upside, the optimistic view of what is going on here. we started off on the downside in terms of the equity market. chinese manufacturing data at a three-month low. taper thepaper -- date as we run to the fomc this week. debate. march is a very long time away before using movement from the federal reserve. u.s. futures higher. s&p 500 indicating a third of a percent up. capacity utilization, which is actually a very important number. boring butbit capacity utilization in the united states of america tells you how much slack areas. how much capacity the economy has in terms of what the fed needs to do next. u.s. futures indicating a little bit high

oxford street, the mecca of shopping. ♪ >> i am manus cranny in london. this is "on the move."day window displays at selfridge's have become a must an and this year features entire gender bread village. bloomberg spoke to the display's minor -- designer to find out how much work goes into those winter wonderland. >> hello, i am the creative designer here at selfridge's. if you think of the windows as the cover of a magazine, it is the thing that people see that entices them and we hope it brings them into the store. something like this christmas window, we have got these versions of our best gifts. we hope that is exciting to see. it might be something that people really want to buy. may took us ahind long time to make. it is made from real gingerbread. andave to build the models cook and make the gingerbread. then it was ice and all of that was put together in the window. the work that goes into these windows is hundreds of hours. many people are working really hard to get these results. >> incredible windows. i saw them yesterday myself. let's head to oxford street now. carol

manus cranny has more. what exactly are investors getting?> i think they are getting access to a fairly major real estate portfolio. they are getting access to the u.s. recovery. 60% of the revenue for hilton at the moment comes from the united states where unemployment is falling. revenue per available room is on the up. they are the kings of timing. that is what somebody said to me at lunchtime time when we were chatting about this. they said these guys are the kings of timing. they are taking this zeitgeist moment of recovery and really beginning to tempt institutional investors. you have to make a choice what you want on your portfolio. how do you want to be positioned? who has the assets that you want? a well-run franchise and they have five people on the board. they are not letting go of the management of this company. if you think of some of the brands that are in there, could the next step be real estate insurance trust? 10 big brands, luxury to budget, it is all in there. >> it certainly is. blackrock but hilton in 2007. many people

tim duncan and manu ginobili, on the second night of a back-to-back.ck this up with under a minute to play in the fourth. warriors down three. steph curry misses the jumper. but the ball gets back to him. pump fake and got it. we are tied. on the ensuing spurs possession. marco belinelli misses. boris diaw misses. splitter, tips it in. spurs win, 104-102. >>> sharks taking on their archrival, the l.a. kings in l.a. a knee-on-knee collision with dustin brown. would not return. sharks lose 4-1. they've lost eight-straight in l.a. to the kings. >>> as the regular season heads towards its conclusion, two facts have become clear. the 49ers are getting better. and so, too, is their coach's press conference. when jim harbaugh was asked about his long-term future with the 49ers. >> we've come to talk about contracts. i've always felt it's in nobody's best interest to publicly discuss those. heresy is not admissible evidence. an unnamed source is heresy, is it not? beware of unnamed sources. they speak with thwarted tongue. i watch a lot of "judge judy." we thi

as was manu ginobili. golden state's not going to lose, are they?purs, 104-102. >>> more bad news for the lakers and kobe bryant who has another injury in his left leg. he thought it was a hyperextended knee. it's a fracture in his shin bone. he's expected to miss about six weeks. bryant, coming off that torn achilles. and injured once again. bryant took to twitter. trying to remain positive about his situation. he says, broken, not beaten. got to go through another rehab after the torn achilles. rehab that knee. but the lakers give him 48 million reasons to come back. >> good call, homey. >> back to you. >>> a young bowler has pulled off what most bowlers never do in a lifetime. her accomplishment makes this our "play of the day." it comes to us from the tampa bay area. >> 9-year-old hannah diem, enjoying herself during a recent league night. she kept throwing strikes. she threw nothing but strikes. she scored a perfect 300. >> when i threw the last strike, i threw my hands up. i ran back there. and she was sobbing on my shoulder. >> people were ch

much.us, thank you very very zen, manus cranny. chris weafer as we head into break eak. the real question is that lamborghini used to build crazy supercars. the germans are involved now. this is clean. this is efficient. this is an amazing piece of engineering. is it really living up to the spirit of the lamborghinis of old? we will talk about that later on the program. ♪ "the pulse." >> welcome back to"the pulse." "the pulse." khodorkovsky has been released. this isgovernor -- lookdent putting trying to more reasonable. >> resident routine has been putin isent attempting to deflect some of the criticism that he is been getting from western governments. also at the same time trying to improve russia's investment climate which has really been suffering. if you think about it, at the end of the day he is being released after a decade in prison. he did lose his $36 billion company. why we saw aasons little bit of an uptick in the .tock market >> doing or he is going? >> we don't. there's some talk that he may go to germany. president

.> and i'm abe-nomicm anna edws manus cranny has the details. israel lost the stanley fischer may be heading to the fed. elliott gotkine has more from tel aviv. to settle over sanctions violations and more people will be flying in the next four years. caroline hyde has the latest numbers from the international airline transport association. plus, the russian race to become the next market for online video. ryan chilcote has more on the content wars. >> bringing you some big interviews today on bloomberg television. the ceo of viacom international media net work joins "the pulse." you don't want to miss that at 930 a.m. london time. >> pleasantly but here from the international air transport association chief executive, tony tyler, joining bloomberg at 10:30 a.m. gone public in the ipo priced at $20 per share $2.35 billion. what are investors getting? >> real estate and a darn good franchise. that's how you wrap it up. arehis valuation, they beating starwood which is seen as a much more upscale brand but have a look at some of the brands they are

. >> will he have it tattooed on him, manus? theince i'm an investor in tattoo business. >> where would you put it? >> european finance ministers trying to hammer out a deal. angela merkel telling them to get on with that. let's get to david tweed. any progress? flex angela merkel after months of not wanting to rock the boat because she was trying to get a coalition together has spoken. you are right. she told them to get on with it. she said they've been talking about banking unions for months and they help as heads of state and government won't have to deal with it at the summit. that will be a moot question. it looks as though they made a little bit of progress last night on one big sticking point and that sticking point is the backstop to the resolution. let me try to explain. if you're going to have a resolution fund, there will eventually be 55 billion euros in it. if there's not enough money to should it neednk to be recapitalized, there needs to be a backstop. that is what they are bickering over at the moment. will they

spurs team .and still couldn't get it a spurs team playing without without tim duncan, tony parker and manu turnovers steph curry hit a tying 3 pointer late in the game. but with time running out. spurs hit the boards. after two misses. tiago splitter tipped in a rebound with 2.1 seconds left, lifting the san antonio spurs to a 104-102 victory over the golden state. the warriors now 14-13 on the season. the lakers coming to town tomorrow >> sharks playing the rival the sharks got a 2-0 here in the second, they go down in this damn four-one. but even bigger than the loss, is the loss of their rookie tomas hertl. a need to need hit with dustin brown. who was ejected. we're still waiting on the outcome. >> the time is 6:57 a.m.. start making your new year's eve plans now and join us for kron 4's new year's live presented by nissan. it is the only local, live show in the bay area ringing in the new year. you will have a front row seat to the biggest and best new year's fireworks show and party. hosted by gary radnich and catherine heenan, this is the bay area's favorite way >> [ male announcer

. >>> and beckham and the boys, the story behind manu and the class of '92. kiesh >>> good evening. thanks for joining us. i am joie chen. we begin looking at struggles of cities and workers and the future of both. money, how cities balance their economic needs and can protect their citizens. case in point, a fight for a living wage which has quietly quietly grown from a city by city movement putting more pressure on lawmakers in washington, d.c. we begin with a look in the call for a higher minimum wage. >> it was just over a year ago, when fast food employees gathered to protest low wages. the fervor caught off and has spread to about 100 cities this thursday. their demand: an increase in pay to $15 an hour, what they call a living wage. amid growing attention to low wages, president obama addressed the nation with a renewed focus on income inequality. >> we know there are airport workers and fast food workers and nurse assistants and retail sales people who work their tails off and are still living at or barely above poverty. >> that's why it's well time to raise the minimum wage

our markets editor manus cranny has more on the volcker rule. tweed has an update on the eu's bank failure plan. banks? a victory for the did bank lobbying actually pay off? >> i think probably yes. a lot of lobbying and they got a delay through to 2015 in terms of implementing volcker. what is the rule mean? i think it is good for liquidity. it is good for the customer and it brings ceos to heal. the biggest issue with the volcker rule was the difference between what you do on a trading desk and what you do on a market-making desk. there are broad exemptions for market-making. you don't pay the staff as used up a proprietary traders. foreign bonds, you can train those but you can pick and mix on hedging. the exemptions are there. say, i know that my clients probably need that amount of inventory for me to meet their needs. the big issue for the banks was, you're going to frighten liquidity away. >> jamie dimon was very active in the debate around the volcker rule. -- londonnding well whale trading incident? >> when we look at this, this was thr

the water manu break has everything a mess -- main break has everything a mess in gaithersburg. bet is sam eig to 270 and the beltway. he have is -- 66 is running well now. all the way um to dumfries, spiting are only 45 to 50 miles per hour. but that is okay. earlier crash activity, bw parkway, all cleared and out of the way. >> this starts as a run of the mel road wreck. >> and quickly turned explosive, what caused this dangerous display on the street. it >> 5:36 now. investigators where the national transportation safety board are on the scene of as deadly train derailment this new york. four people were killed and more than 60 hurt. passenger described train as speeding and the experience a nightmare. >> there was people flying everywhere. >> investigators did find the train's black box in good condition overnight. they will look track conditions, the train's equipment, the signal system and, of course, the train's operator. >> in the day ahead, mrs. building height restrictions will be the focus of a hearing with the oversight committee. congress will now take up the issue.

manu pressed the u.s.o stand strong against iran's nuclear program as the final deal is put together in the next six months. >> we discussed the danger to the world posed by iran's pursuit of a nuclear weapons capability. we believe that in a final deal, unlike the interim deal, it's crucial to bring about a final agreement about determination of iran's military nuclear capability. >> meanwhile in iran today, iranian president hassan rouhani spoke at a tehran university and indicated that breaking the, quote, ominous and impressive sanctions is as important as enriching uranium. rouhani said, quote, centrifuges should spin but the lives of people and the economy also need to spin. iran has agreed in this six-month interim deal to allow greater access for united nations nuclear inspectors and to cap the level of uranium it can enrich. in exchange for the easing of some economic sanctions. jamie. >> molly it remains controversial. thank you, take care. kelly. >> one of the busiest airports practically at a s

and the ships go back, they carry these bails of cardboard, because they got to manu cardboard boxes.> reporter: if you think all of this is a lot, monday it will be much, much larger, a virtual avalanche of product boxes, shipping boxes, and wrappings, all of which have to be recycled in a single day. >>> preparations are under way in new york city for the famous new year's eve ball drop. electricians are installing more than 2600 crystal triangles that give the ball all its shimmer. this year's design features a kaleidoscope pattern that will reflect light. the ball drops at the stroke of midnight. millions will watch from home and at least half million are expected to watch via an app that can be downloaded to mobile devices. >>> it's here. the flu season, in full swing in the bay area. how bad it is right now and what you can expect in the weeks to come. >> finding peace is justice. >> emotions boiling over in oakland, over what will happen to the brain dead teen on life support. >> starting tomorrow, enough people to fill oracle arena twice over, will be facing potential financia

manu runs the senate for politico.head to the lone star state of texas and talk about steve stockman, who's really come out of nowhere with the challenge of john cornyn. this primary is on the calendar for early march. what do you expect from stockman? what do you think of ted cruz? >> ted cruz has caused confirmation because he was refused to endorse john cornyn. i don't anticipate him getting involved. stockman will pretty much be a n nuisance. cornyn will have to watch his right flank. after all, cornyn has taken some votes that are not popular with the right. he's a remember of the republican leadership where tea party folks are trying to take down the leadership. cornyn has been kind of guarding against that right flank ever since the beginning of this congress. he should have little problem dispensing with stockman, but he's someone he'll have to at least pay attention to over the next several months here. >> so basically, given that setup, that is why ted cruz doesn't go in and endorse him wholeheartedly, becaus

as bernstein plane without, tim duncan, tony parker, and manu ginobili.it 24 turnovers. some currey hit a clutch 3 corner with 29 seconds left in the game to tie the game at 102. but with time running out, the spurs hit the board, after two misses, tiago splinter sect in a rebound with 2.1 seconds left, the san antonio spurs win, 1 04-1 02. >> how big of a star is stephen curry? jersey sales usually do not lie. currey currently ranks sixth of the top listed nba popular jerseys. the list is based on overall sales. low boron and kobe occupy the top two spots, followed by at derrick rose, kevin the rent and carmelo and today, then currey. >> sharks' a plane and a rival kings down in l.a.. kings coach darryl sutter. [uncle]this is hopscotch,okay? uncle go one,two,one,two,one two,one. [niece]okay! [uncle]okay? [niece]one,two three,four,five,six,seven,eight! [uncle laughing] okay,we go the other way,okay? [niece]one,two,three,four,five, six,seven! [uncle laughs]there's ten spaces,you want to try again? [uncle]yeah? ...are the hands that do good things for the w

>> >> well, i suppose our starting point is manu is dead. >> rose: yes. >> matthew is dead. >> rose: we jump six months and have a six-month gap and we come in and mary has been a widow for six months, and so we have a slight disagreement in the family as to whether or not it is time she started pulling herself together or she should be allowed to grieve for as long as it takes so they all sort of slightly take one side or the other. and that is quite mice for us, really, because it means we begin on a sort of disagreement, and then mary's return to the land of the living, i suppose is, well, one of the main themes of the series, there are other main themes that go rhett well all the way through, but that is, you know, that is mary's journey. >> rose: roll the tape. >> she is going through a hideous time but now you must remember your son, he needs you very much. >> i know. >> the thing is, i don't think i will be a very academy mother. >> why not? >> because somehow. >> with matthew's death, all of the softness he found in me seems to have dried up and drained away. maybe it was onl

manus has the latest. >> it is the morning after the night before, the equity markets onm to be haverst and from the federal reserve, a $10 billion cut in q.e. a soupcon of what may come in2014. november, these markets have dropped by 2%. there is some reprieve to the extent that we were so well guided that tapering was coming, that it was down to timing. the question you need to ask is this is the european equity market. the next move will be the trading ranges that you see in u.s. treasuries. this is the 10-year government bond. yields are dropping. that is probably to be taking quite well at the moment. su treasury yields are dropping. european equities are playing catch-up. this is day one of the full acknowledgment of what is happening at the federal reserve. .8% on thep, down by s&p 500. yields are falling on treasuries, equities taking the news quite well. american equities dropping ever so slightly, but you begin to understand the concept and the dynamic of taper and the challenge for the world when you cross not onto to the dollar, but when you look at emerging markets. now,

manu currently sits in a lowly ninth position in the premier league after alex ferguson steps down asanager after more than 25 years in charge. shares of the football club listed in new york are 20% over the course of the last year. >>> at the same time, english premier league football is amongst the bed paid in the world. and a poll by wealthx has found that 28-year-old manchester united striker wayne rooney is the wealthiest fwlish born player. >>> and we were joined earlier by blahblahcar, the car sharing service with a difference. it pairs passengers and drivers based on how talkative they are. we've been asking what bad habit in a car passenger drives you mad. olu has written in to say hands dangling in through car windows while on the move. person nigh says what gives him road rage is people driving slowly in the passenger lane and not signaling lane changes. yes, that is rather annoying and potentially dangerous. get in touch with us on "worldwide exchange." you can e-mail us, worldwide@cnbc.com, tweet @cnbcwex or direct to me @rosswestgate. >>> still to come, will next week's

a spurs team playing without without tim duncan, tony parker and manu ginobili.the warriors commit 24vers steph curry hitting a clutch 3 pointer with 29 seconds left in the game tying the game at 102. but with time running out. spurs hit the boards. after two misses. tiago splitter tipped in a rebound with 2.1 seconds left, lifting the san antonio spurs to a 104-102 victory over the golden state. the warriors now 14-13 on the season. the lakers coming to town tomorrow >> and how big of a star is stephen curry?jersey sales usually don't lie and curry currently ranks 6th on the list of the nba's most popular jerseys the list is based on overall sales from the past three monthsand it's the first time a warriors player has made the top 10. lebron and kobe occupy the top two spots.followed by derrick rose, kevin durant and carmelo anthony.then curry >> sharks playing the rival kings coach darryl sutter. sharks down 2-0 here in the second. and go down in this game 4-1. but even bigger than the loss. is the loss of rookie tomas hertl. a knee to knee hit with dustin brown. who was ejected. he