during pregnancy like green and merrill had no evidence to back this up. merrill applied to the federal drug administration in 1960 for approval to bring sullivan might onto the american market and was allowed to conduct clinical trials on patients across the country now it wasn't a clinical trial at all what it was was a marketing campaign trumped up to look like a clinical trial michael magazine it is an australian lawyer and former investigative reporter who spent years researching the thalidomide disaster what merrill wanted to do was to familiarize doctors with a drug so that once they got approval but would have doctors already to go through with the drug really to prescribe it like crazy the little mite was now being sold in close to 50 countries worldwide in 1961 in australia dr william mcbride delivered 3 solid my babies in a few months he alerted distillers the british distributor thalidomide but they claimed they never received his warnings and pregnant mothers like wendy roll continue to take the lead in mind for morning sickness but when her d

lehman, merrill, and aig. it turns out we had one buyer. and bankamerica bought merrill. bought lehman, merrill would have failed and it would have been a bigger problem. the thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, legislation did get through congress, but it failed in the first vote in the house. what did you think then? hank: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get fiscal authorities. it was a big thing for the president to authorize this. there is no way you want to say we have an emergency, and give us these authorities, and then i get them and be naked with nothing you can do to prevent the meltdown of the financial system. when we went to congress, the cupboard was bare. the president needed to look ben bernanke in the eye and have him assure him there were no authorities the fed had, there was nothing more we could do. we had to go and get these authorities. davi

we will be speaking with david woo of bank of america and merrill lynch. this is bloomberg. ♪ >> live from bloomberg's world headquarters in new york, i am remain boston. how u.s. snapshot of stocks closed today. the s&p, dow, and nasdaq finishing in the green. stocks closing higher after rising on speculation that president trump will not go 15 levywith a december on chinese goods. elizabeth warren has her own trade plan. we hear more from the white house hopeful. opec reaches an agreement, adjusting targets but leaving oil supplies threatening barely changed. begin with the bond market treasury yields climbing on some positive eco-data. if you look at this chart, you will see the conference board leading indicator has been moving in tandem with treasuries. the uptick in yields signaling the economy could be on the mend in 2020. running is now, david woo, head of global rates at bank of america and merrill lynch. in 2020.my on the mend it sounds like you are fully on board the thesis of the economy on the band. bullish fore been at least a year. the big s

and i certainly heard merrill was on her way down the stairs.rk with the legend, and she came down and i said, "merrill!" and threw my arms around her and quickly regretted every single ounce of that. >> stephen: you didn't hurt her? >> i hope not. she probably wouldn't tell me. >> stephen: i understand you saw a different side of merrill when you guys were riding around in the carriage. >> yeah. >> stephen: people don't normally associate this with meryl streep. what happened? >> we were basically shooting this film-- shooting this scene in, like, a boston park, and it was a scene that was set in paris. and we were in this carriage, and we're both wearing she's massive hoop skirts. and because you have to reset horses it takes a while, and you're in these carriages for a while. and we're both wearing these beautiful coats, like dripping with jewels-- you know, the usual. and i remember it was cold, and she was like, "oh, i would just kill for some fries right now." and within seconds, there was a p.a. that was out of breath going ( gasping ) (

coming up in a moment arts and culture with my colleague robin merrill don't forget you can get all the latest news and information around the clock on our website e.w. dot com or follow us on twitter at u.w. news i will include kraft thanks for joining us. in the height of climate change. for christmas eve. what's in store. for the future. for the major cities to get insight. culture. 50 years of religions for peace people from many different faiths for working together toward a common goal the peaceful resolution of religious conflicts. now female members or for religions for peace from the middle east are demanding a larger role for. the female peacemakers stores where we fish on g.w. . tank global fog is what obit shirazi coles this music is by and the exiled history of based in germany with groups all over the world. more funk in a minute welcome to news from the world about some culture also coming up today. more interior design with a vintage touch one of the special qualities. of the day more a studio label. and a look back at the career of one of the great lyric tennis. christm

hutton dena merrill, she became a notable actress. here's the southern white house operation.ere's palm beach as it looks today in aerial shot. that's all Ãabout all i've got. [applause] anybody have questions? comments? we would love to hear. >> i work in hollywood and a à [inaudible question] the hurricane of 28 did not significantly impact the island. it was minimal damage there. nor did the depression significantly affect boeing's life in palm beach. people lost a significant portion of their wealth but at the level of wealth we are talking about the fortunes that had been abashed as someone interviewed one of the shopkeepers he said, we haven't lost much business. if you still got $50 million you can't afford a new pair of pants. and in the 1930s you can imagine. they were just living another level. they were pretty much prove to that kind of downtime. >> you said that after you finish the writing last train to paradise he had all this information left over. did you have a lot of information left over for another book for after this one? >> do i have a lot of information

>> reporter: back at the call and dispatch center, crystal merrill finally found out what happened. > been knocked off of me. i took a moment. i did cry at work, like after they found the girl. i think it was just because my adrenaline was so high and a sense of like, oh, we found her. >> reporter: she got emotional again when she got home. realizing her determination helped return a child to her mother's loving arms. >> i went straight in and i just hugged my babies and i was crying. i'm getting emotional now thinking about it. and i was crying. it was just a lot. you could just think, oh, that could have been me. and it was good to know my babies were at home. but that little girl, she didn't get to -- she wasn't at home with her mom. she wasn't safe. >> but thanks to you, she was. now. >> i just say it was -- it was god. god. god led all of that. >> i went home at the breakfast table. and everything that i wouldn't allow myself to feel that night, it hit me and i felt it. >> reporter: were you able to hug your kids? >> yes. yes. very much so. >> reporter: in the aftermath of the ar

have more news at the top of the hour coming up in a moment arts and culture with my colleague robin merrill don't forget you can get all the latest news and information around the clock on our website e.w. dot com or follow us on twitter at g.w. news i will include thanks for joining us. in the climate change. for christmas or. what's in store for people. wanting to use today for their future in the. pretty major cities to get insight. enter. 15 years of religious for peace people from many different faiths for working together toward a common goal.

joining us now, mark cabana, bank of america merrill lynch head of u.s. rates strategy.ed in, be a surprise, is if you get the fed at some point signaling a hike because they basically overshoot inflation. mark: that's right. there's a very high bar for them to raise interest rates, certainly higher than to cut rates.t we think they are going to signal the path of policy is in a good place right now. it would take material reassessment to change anything, and the dot plot. . will be key we think the -- the dot plot will be key. we think the dots will shift lower, but we will have to see what the distribution around that looks like. we think that in 2021, they will signal they intend to keep a rate hike in. again, it is going to be a fed that will signal they are on hold for now, but it is really the distributive risks reflected in the dot plot that the market will be very much focused on. art: one of the things you just said is in 2021, they may put a 2021, which means a whole 12 months without a rate hike. you talk about the hurdle being high. obviously they are going t

bank of america merrill lynch say the market is primed for a first quarter melt up given that the fed are still adding liquidity and we have the receding risks of the brexit and the trade war. something to look out for, how are investors positioning into the first quarter? let's check in on first word headlines from around the world with annabelle droulers. reporter: the media budget update and australia says economic pressures are beginning to weigh on government finances. the treasury is lowering the forecast surplus for -- through june next year and subsequent three years as it scales back. payments. if the government managed to return books to the black, it will be the first time since before the 2008 financial crisis. australians can be confident about their economic future with the first account surplus in 40 years. welfare dependency at its lowest level in 30 years. the biggest tax cuts in 20 years, and the first balanced budget in 11 years. claims that authorities have extended a campaign against political opponents into the financial sector. --former senior at vector's execut

well let's talk about what some of the options are max and merrill is here from sports max sadly this hasn't been the only incident that has taken place this year it's one of several. what's being done to address these issues as you rightly point out racist incidents across european football high profile games especially bringing it into the public eye and jerking the games you away for introduced earlier this year a 3 stoppage rule where the referee at the referees discretion can stop the match as we saw actually anthony michael anthony do it here in the premier league as well slightly different protocol there but the idea is to be able to stop the match amounts of the town or you know this is happening we need it to stop if if we can't basically fit as we stop multiple times that it can and players have also threatened to leave the pitch in the past now what happens after the match is usually lifetime bans for fans and talk them is obviously the only club like i mentioned across europe incidents have been happening in chelsea themselves of actually issued 3 lifetime bans in october

even with deforestation rising also merrill has weakened the main federal environmental agency slashing its budget. and not even a year into his presidency fines for environmental crimes have gone down by nearly 30 percent from last year. we wanted to understand how both sonars policies and budget cuts have impacted obama so we accompanied a team of agents on a field operation in the state of pa and brazil's north. using satellite data they're hoping to confirm locations of illegal logging and try to find out who's behind it. wrapped up water. and one point we came across a house that looked like it was recently occupied or logs were still burning. well this is part of the old as a lot of this. is. just a bit further down the road there are more signs loggers have been here. all of. the above agent told us that this took place maybe today or yesterday and that this tree customary tree is probably over 70 years old and this is a protected tree that's not supposed to be deforested. as we drove along it felt like we were always one step behind the illegal loggers. coming across one patch a

the shares fell abo 169.83 skywork solutions was upgraded to by to tunderperform bank of america merrillynch. the anticipated increase in mand for chips due to the growth of 5g technology. skyworks price targets 122. the stock rose more than 1 1/2% in today's trading session. >>> as you likely kw by now, paul volker passed away over the weekend. he was a prominent fixture in the world of fance f more than 40 years. he servedix presidents, most famously as the chair of the federal reserve in the19s, the current fed chair and his colleagues today are dealing with a low inflation environment. and in some ways, they can thank paul volker for that. >> he is credited with taming runaway inflation in the 1980s, earning that credit wasn't easy. he was predent of the federal reserve bank of new york. at that time, economic growth was way down, but prices were way up. puttinghe economy in a period known as stagflation. by 1980 gdp was down to 3%, and inflation was u to 14%. >> ronald reagan was elected president in november of 1980, and he vowed to get the economy growing again. but volker who com

she invited mark cabana, bank of america merrill lynch head of u.s. rates strategy.y keen to talk about repo. the fed has it under control. they said they have it under control. the repo rate has not spiked into the end of the year. why is this such a big deal for me? lale: well, i will let mark chime in and a second, but from my perspective, it is a vague part of the market where people just assume it works. i think the fact that the fed is pumping in four hundred billion dollars or $500 billion just to make it past december -- part of it is also, have you ever played --ame -- god, i don't alix: twister? lale: yes, thank you. [laughter] lale: it could be a lot of things. eventually, you just get so bent out of shape that it comes crumbling down. my issue is we may have december in control. the question is there's january, april, february, there's which is the japanese year-end. hopefully mark can shed some light here and tone down my bearishness. has beenbe fair, lale warning of this for a long time, and did it happen. mark: there's a saying at the front end that fu

atropellÓ a un hombre en la madrugada del dÍa navidad fue arrestada ayer, e identificada como sabrina merrilles sospechoso de haberle disparado a un familiar suyo, tras una discusiÓn, ocurrida unas horas antes. un viaje en automÓvil entre amigos, la noche de navidad, terminÓ lamentablemente en tragedia. cinco adolescentes iban a bordo de un carro que se estrellÓ contra un Árbol en el -- los menores que sobrevivieron salieron disparados de la auto al momento del impacto. se desconocen las razones del incidente. los familiares de las vÍctimas iniciaron la recaudaciÓn de fondos para el funeral a travÉs del internet. entre tanto, las autoridades del Área de vallejo investigan el tiroteo, donde un niÑo de seis aÑos resultÓ con heridas graves. elena jugaba en la calle cuando se hicieron mÁs de 15 detonaciones. una bala perforÓ su torso. el pequeÑo permanece grave, pero estable en el hospital. un tiroteo registrado en el este de oakland dejÓ cuatro heridos. entre las vÍctimas había un joven de 15 aÑos, dos hombres de 27 y 28, asÍ como una mujer de 29. los heridos festejaba navidad en una vivienda. l

but the mere fact of merrill lynch do the ends justify the means. putin says witnesses starts december 13th on g.w. . this is the daily news live from bad enough pro-democracy rallies in hong kong the joy of the knowledge of crowds in months organizers say 800000 people took part in what they called a nonstop to the city's pro beijing government a correspondent has lived in tents also coming up a major fire engulfs a factory in india's capital.

sebastian is from bank of america merrill lynch, this is all about europe.oticed that the vanguard ftse etf had the biggest inflows since june 2017. do you join the phrase in terms of these kind of flows? are you part of this flow and momentum of picking up more europe? have a look at the chart. it is obviously an impressive chart whenever you see this, but for me, the main question is are these kind of statistics and data telling us something about performance going forward? unfortunately, we find that these statistics about flows have little predictive power. that is not something we focus on. we say growth momentum in europe has been bad and we are seeing signs of this picking up. the domestic drivers of the cycle are improving. had was weak we global growth backdrop, especially in the u.s.. u.s. isomentum in the the last headwind for growth momentum in europe. we come back to what is priced in already. the equityion is market has run too far on the straight optimism. positive, but for those who think now it is finally europe's time to shine, we think eur

small fur trees and this has been the case for more than 20 years a quirky custom and reporter makes merrill want to do his bit to make it a great success this year. a gigantic christmas tree and i know exactly how it all came together i'm here in dortmund to examine possibly the biggest christmas tradition in the world in fact it's the world's biggest christmas tree let's take a look inside so this is the final masterpiece my p.s. the resistance well i mean actually just one of these thousands of trees is actually mine. a few weeks ago i cut down one of the 1700 trees that make up. every year spruce is from the local forest so used there are plenty of norwegian spruces to choose from so i need a bit of advice. why is the norwegian spruce used for dortmund's mega tree and the . fisher one is cheaper than a traditional norman fur and also this tree nestles itself nicely onto the steel framework endorsement on. the spruces selected for dortmund's christmas tree are between 3 and a half and 5 metres tall security reasons i can't use a chain saw and have to do it the traditional way the. job don

deere downgraded to underperform from neutral at bankf america/merrill lynch citing the company's disappointing earnings report and outlook. target $150, the stock fell ove 1.5% to $1659. >>> wells fargo downgraded to underperform from market perform at raymond james citing lingering stigma from the fake account scandal. the firm has no pri target on the stock. the shares fell 1.5% to $53.63. >>> rokung dded from underweight to equal weight at morgan stanley, citingotential for slowdown in revenue growth for that company next year, price target $110, shares fell by 15% to $136.07.en bi downgraded from underperform to neutral at baw. d, citing the company's controversial alzheimer's drug that is awaiting fal appr which the analyst doubts it will receive. price target now $250, that stock fell more than 2% to $292.39. >>> still ahead, bing set lofty goals for december, and the company's to-do list is long. >>> the u.s. trade representative is reviewing the possibility of raising tariffs on various european unn products. the parade rep cited a lack of progress in resolving eat dispver aircraft sub

new survey showing passengers are the plane.about the safety according to the survey by bank ofri a merrilsay they would be hesitant to fly it even after deemed se by regulators. nearly two thirds of respondents said they would wait six months before gettingnen the p or never fly it at all. >>> oracle reported earlangs today. and while its profit topped wall street estimates r enue fell short. the company said growth in the cloud services and in its license support unit failed to traditional softw business. that sent the stock initially lower in after hours trading. results. onoras m on oracle's >> oracle is investing to become a bigger player in cloudak computingg on companies from amazon to salesforce. investors are on the lookout for more iheight into how effort is going. one company to watch the crowd services and license support division, the largest division, including crowd revenue as well as maintenance fees for traditional software, their revenue came in at $6.8 billion. just in line with ctexions. most analyst rate oracle a hold right now, nearly 70%. jmp patrick wall raven stayi

>> one thing i think you mentioned in the survey we just heard from merrill lynch and that is everybodys on the same page. right. >> i think it's fine to run with the herd a while. but the trick is when do you pull away from the herd? i think we are fine still. one of thes positive things it's an election year. two things happen in election years. nune it's rare to go into recession. and number two rare that the equi markets have a sell off in the election year. because of that i still feel positive and good t for upcoming year. very good. larry adam withaymond james, thanks for joining us larry. >> thank you very much. >>> well, the housing market seems to be firing once again on all cylinders. as we reported home build sentiment is higher and construction up. today y can add a report pointing to02trongfor the industry. here is diana olick. >> a sharp jump in-housing starts and building permint re in addition to very strong buyer demand could mean big results for builders next year. fanny mae boosting the 2020 thanks to stronger ovell economic growth. specifically a robust labor market

kjell ob upgraded t buy from neutral at bank of america merrill lynch. the analystit improved sales growth which should help profit is $70.ce targe the smars rose more than 2.5% to $68.64. duncan brands upgraded at guggenheim. the analyst says therepodding of stores help increase sales. the price target $83. stock up 2% to $74.93. mienl's downgraded to under weight from equal weight at morgan stanleyg cit declining comprables raels and rising compression. the price target is $a. shares of the small cap stock dropped nearly 8% to $6.17. >>> in the meantime something caughtur attention in nike earnings report, yes reported better than expected profit and revenue which we told you about last night. but the company says the michael jordan brand had its first ever billioar quarter. not bad for someone w hasn't played professional basketball in more than 15 years. jabary young is the sports reporter for cnbc.com. welcome. pleasure to have you here. what is is it about the jordan brand that dri it to the record level. >> first of all thanks for having me sittin

event is over and that the individuals that are responsible are now deceased in washington, not euro merrill kron 4 news. >>6 passionate protesters opposing w vaccine laws that go into effect in weeks. but they're not pushing for a fight will explain. as the raiders prepare for a final farewell in oakland, we had a chance to sit down and reflect with a former player. >>who traded silver and black well lou. >>a new study shows just how much bay area rental prices continue to rise over the years what does rising red concerned means for people we need to rent a place. >>the sobering numbers bay area renters have spent nearly billion on housing. just from 2010 until now in fact rents continue their upward climb across the country amid the lack of affordable housing comports rob fladeboe takes a look at the numbers for the san francisco and san jose metropolitan areas. >>according to a new zillow analysis of the san francisco metro area. renters spend billion on rent in the 2010's. renters spend 16.4 billion on red in 2019 alone. >>that's up 2.3% from 2018 and up 56.4% since 2009. in the san jose

stock rose1%o 376.42 p haines brand downgraded to underperform at from neutral at bank of america merril citing a slowdown of sales for e company's champion athletic apparel brand. price target down to $13 and shares town5% to 14.40. >>> still ahead, a ar's long high stakes labor case and a big win for one of america's biggest mpanies. ♪ ♪ >>> a long running labor union case has finally come to anend. and iwas a win for the world's largest fast foodt restaur chain kate rodger that is the stories. >> a big win for mcdonald's ine the bige over the franchisee franchiser relations an how much responsibility franchiseders like the giant have over actions taken at franchise locations.gh the neir labor relations board instructing a federal settlements to resolve complaints against mcdonald's and 29 franchisees in a case that'snder way for three years. >> what do we want? >> workers claimed they faced retaliation for participating in raiesalling for $15 an hour minimum wage a unions. the decision still has to be finalized. but it minas mcdald's escapes int employer liability which would hold cor

messi has been awarded football's along door as the best female and male players of the year max merrill's here to talk about that did of sports more max. why did the judging panel choose megan rypien oh well she was the clear choice and not just for performance on the pitch but kind of also off the pitch she's really turned into somewhat of an icon over the last few months and it's a little odd to see a not attend the ceremony we're not clear as to why she was unable to come as she did attend the fee for the best ceremony early in the year but the ballon d'or i mean has only existed for for 2 years this is the 2nd time it's been awarded but she really transcended the sport i mean we can see here her giving speeches that's something that she was doing a lot this year as well after that world cup triumph that she led the usa to she was the player of the tournament in that tournament and the joint top scorer as well with 6 goals so fantastic performance absolutely and we can see also from this win the difference here to the men's game that the the international game is valued of a club footb

it's to the bundesliga now and today sees barassi a dork and hosting league leaders rb leipzig max merril from v.w. sports is here to talk but that morning max our 1st question is what is at stake in this match plenty at stake in these midweek fixtures the bundesliga is pretty much less exciting league in the world right now it's incredibly tight at the top and we can see here from the standings 1st place lights that they knocked off the perch on the weekend they're facing don't win in 3rd only 4 points between them and then we go all the way down shall come by on friday and then live in the top 7 only 8 points separate them and with a mid-season break approaching it's all about keeping the pace at the top ok how do you see this match playing outdoor and league leaders rb leipzig yep plenty of excitement guaranteed and quite a few goes i'd imagine they don't when they're at home so they have that advantage the famous yellow wolves backing them up $81000.00 fans in total will be there and $55000.00 of those a season ticket holders and open fans are quite traditional in their values and pro

it's through the honestly get out viral munich win against freiburg max merrill is here to talk about that good morning to you max i was at stake it is a very high lighted match for lots of fans yeah well i mean by really want to get back in touching distance of the top of the table and they haven't had the easiest of times in fribourg in the past and did playing really well the season against expectations robert levin dusky is usually the man to bail them out of sticky situations their star striker but this time it was a youngster who eventually got them over the line. a high 5 for a high class performance at the weekend philippe coutinho out scored by ends goal getter in chief. and the brazilian wasted no time trying to add to his weekend hat trick thankfully for hosts freiburg manual got back just in the nick of time. having dodged a bullet with putin they were soon in the firing line again shop she to 11 duff's he rarely misses perfectly placed a proud in the cross from alfonso davis. but instead of pushing their advantage by and found themselves pressed back it wasn't for the her

>>i'm not year-old merrill and those are so of the nation's most impactful stories of 2019. >>that's been a heck of a year l right a little peek outsi checking in on the airport all is well so far at sfo. if you're heing out bundle up temperatures little chilly outside your door, but we are expecting sunshine lateon this afternoon and also we'll check that new year's day forecast on travel. as l those details after the break. >>welcome back 4.53 on this new year's eve without clear this out there, everyone's help and hand i hope it's clear that this cleared tonight as the firerks go off. good news for you as it does look to be a fog free day and i'm following evening ahead of us so that is definitely some good news on pretty chilly morning know most of us are in the 40's redwood city and a double in in the 30's right now though so definitely bundle up if u're stepping outside these next few mites, good news for the rest the day as skies are going remain clear winds are going to remain light. no overall pretty pleasant conditis to be expected that if your tting outside tonigh

happening here you know and i think the big problem i mean i remember back when i was a trader at merrill lynch on the corporate bond one of the most senior traders there told me there's no incentive to ever go short the market because if you're right you're not going to get paid anyway and if you're wrong you know you're going to get paid so what's the point most will go along and i think that's the entire view of most market participants right now is that there's just no reason to fight the fed there's no reason to fight the markets just go along ignore all the risks that are out there until you know if they come to a head in which case you'll react jeff garment the out arca thank you so much. thanks for having me. finally today how much is a babe ruth autograph worth depends on the bat but the bat used to hit roots 500th home run well sold for a $1000000.00 s.c.p. auctions the not to defy the buyer as for that 500 homer it was hit aug 11th 1929 in a game against christie's favorite the cleveland indians according to the auction house the ball cleared the right field wall with league pa

more on what to expect with francisco blanch, bank of america merrill lynch.ng for saudi aramco ipo pricing. that is front and center for the vienna opec meeting. we get some economic data outcome alike initial jobless claims hitting in just a few moments. [ electrical buzzing ] [ dramatic music ] ahhhh! -ahhhh! elliott. you came back! alix: we are taking a look at glencore. shares dropping 4%. a fraud office is opening an investigation into glencore on suspicion of bribery. suspicion of bribery. that stock down 4%. sfo is now confirming that is happening. we will give you some updates as they wind up crossing. that stock getting hit by 4% in premarket. we are just a couple of seconds away from the latest read on initial jobless claims as well as the trade balance. jobless claims coming in at 200,000, less than expected. positive signs heading into jobs friday. trade balance narrowing a touch, no, narrowing significantly. -$47.2 billion versus september, which was $51 billion. we are seeing a narrowing trade balance, narrower than we had expected. those things