and as michelle cabrera tells us, it would provide new opportunities for u.s.-based oil companies. >> reporter: there is only one oil and gas company in mexico. it has been that way since 1938. in the middle of a socialist revolution, the company kicked out all foreign oil companies and the government took control of the production. for decades, they were one of the top producers, but not anymore. down from 3 and a half million barrels s a day in 2004, to le now. the spokesperson said the key to a turn around, accessing the oil in the deep gulf of mexico. deep water drilling is very expensive. just renting a platform costs up to half a million dollars as a day. they spent more than 20 billion, however, they think they need $60 billion. the problem is, they don't have that kind of money. >> reporter: so the mexican president is pushing for reform which finally would allow foreign investment. the debate is expected to begin this week on just how far the reform reforms will go. the more generous they are to foreign companies, the more investment they will get, but

our chief international correspondent is back from mexico, michelle caruso-cabrera.e, tyler. mexico has lots and lots of oil, not enough money to drill for it. consider this. in the u.s.-controlled part of the gulf of mexico, more than 300,000 barrels of oil are brought up every single day from the deep waters. in the mexican-controlled area, zero. that's why this country's new president is trying to change things. there's only one oil and gas company in mexico. hemex, it's been that way since 1938. the country kicked out all foreign oil countries and the government took control of production. for decades mexico is one of the -- but not anymore. pemex's oil production is declining. down to only 2.5 million barrels per day now. >> we need to evive. carlos morales is head of exploration for pemex. he says the key to a turnaround actioning the oil in the deep waters off the gulf of the coast of mexico. just residenting a platform costs up to half a million per day. mexico state oil company spends 25 billion a year on exploration and production. however, they think they

michelle cabrera who will be covering the games will be covering that. we'll go to kayla with some of the top stories. >> dangerous element six weeks before the winter games are set to begin. elsewhere in corporate america, apple is just saying no. the company urging shareholders to vote against carl icahn's $50 billion stock buy back proposal. no word yet from the billionaire investor. apple releasing details of tim can cook's pay. he took home 4.25 million which is on par with what he made a year ago. he gave up 7100 shares tied to an annual performance award. that was based on august 2012 to 2013. the stock in that time lost a quarter of its value. those options set to vest worth just about $4 million. so a drop in the bucket for tim cook but, nonetheless, there are some repercussions for the apple stock price. >> to anyone else that's money but chump change. he m us must have had a big payoff. >> 2004. >> two waves, five years and ten years. he actually asked the board himself, can these vest on an annual basis equally and that way every year you can

our international correspondent michelle caruso-cabrera is on the case. michelle? >> tyler, all those things lead to a big question. did austerity work? we're getting some pretty clear-cut evidence today. that's next on "power lunch." >>> follow the money. all right. also ahead, where's that wicked winter storm going next? it is bringing cold, snow, ice, sleet, hail, pestilence across the country. it's hitting travelers and everyone else. the forecast is coming up. where will it go next? >>> w to "power lunch." check out caesar's entertainment, the world's biggest casino company is cautioning investors that internet gambling might hurt rather than help its brick and mortar casinos. caesar's which owns 4 of atlantic city's 12 casinos wrote in a regulatory filing that gambling online could reduce patron visits to its casinos in new jersey and nevada and harm the company's bottom line. but a spokesman at the company downplayed the warning, telling the associated press it had to be included for legal reasons regardless of how likely or unlikely the company believes a p

our michelle caruso-cabrera spoke to cardinal dolan of the archdiocese of new york. le joins us now. good evening. >> this all comes from -- this whole story starts at the $180 million renovation of st. patrick's. we've seen the scaffolding in new york city now for a very long time. spearheading this effort is a man named ken langone, frequent guest on cnbc, founder of home depot, and a billionaire. he tells cnbc exclusively that there is at least one seven-figure donor, potential donor, hasn't written a check yet, who has expressed concerns about the pope's recent comments about capitalism and he says, "i've told the cardinal, your eminence, this is one more hurdle i hope we don't have to deal with. you want to be careful about generalities. rich people in one country don't act the same as rich people in another country." the pope has put out this 224-page teaching about his views on the world. a lot of it is what he thinks about the free markets, what he thinks about what the wealthy should be doing. i sat down with cardinal dolan, the leader of the archdiocese of n

michele caruso-cabrera thank you. >>> to the bond market, rick santelli brushed off the confetti and tracking the bond action at the cme. rick? >> hi. happy new year. the 30-year bond certainly had some turbo thrusters. it popped up five basis points today and as you can clearly see both on the intraday and more importantly a chart going back to the summer of 2011, it finally took out the 2013 high yields. on the ten-year, on the same timetable you can see it's still a close call, equalling 3% high yield close but the cash market open for another half hour, looks like we might pop above that. it's currently trading at a 301 yield. the five-year on a year to date chart didn't quite take out its recent highs. but all maturities are up large for 2013. the dollar index, a different story. many will now remember 2013 as the year of the euro, but the dollar index, very close to unchanged. back to you. >> thank you very much, rick. >>> with the dow up 46 at a fresh record bring in kenny polcari, a cnbc contributor and our own market guru bob pisani. so as we look forward to 2014, what are t

cnbc's michelle caruso cabrera is here with what's moving your money. good morning.old out already? >> you and i, chris are out of luck and we topped the team up for one as soon as we got the $4 million that they cost this year and that's for 30 seconds. that's 5% higher than last year, it was $3.8 million last year and no surprise, the biggest buyer, anhaeuser busch, $248 million is what they'll spend on their ads and as always, and as make sense during the super bowl. >> cnbc's michelle caruso cabrera. thank you. >> see you later. >>> the holiday season is officially here at rockefeller center in new york. take a look. >> three, two, one! >> that's what 45,000 multi-colored led lights look like. that's the 75-foot tree lit last night live on nbc. it's a tradition that goes back 81 years. this year's tree was donated by a family in connecticut. and there it is this morning topped with a 550-pound swarovski crystal star. >>> if you're in the holiday spirit "usa today" has a list of the best places to get a look at santa. on the 8th, sunday river maine hosts santa sun

michelle caruso cabrera. becky quick is enjoying a day off on this christmas eve day. nymex trading ends at 4:30 eastern with gold trading finishing an hour later and electronic nymex trading connects at 5:15 eastern time. there is a lot to get in before the data front. november november durable goods is hitting the tape at 8:30 eastern time. the headline number there expected to rise by 2%. coming at 10:00 a.m., last month's new home sales and the richmond fed survey. the dow transports the s&p 500 and the russell 2,000 closing at record highs yesterday. the nasdaq ending the day at its highest level in more than two years. companies are showering cash on shareholders. s&p 500 companies bought back more than $128 billion of their own shares in the third quarter. that's the highest level since the fourth quarter back in 2007. if you combine buybackes and dividends, you get a total of $207 billion. that's just in the third quarter. take a look at the futures right now and see how markets are setting themselves up for the morning. we have some green arrows again. the dow

and michelle caruso-cabrera.ing you. >> i'm right here. >> we talked about this earlier. >> in the 6:00 a.m. hour. we'll talk about it again. the recent comments about capitalism may make it tougher for the wealthy and capitalists in new york city. billionaire ken langone, he's spearheading the efforts and told cnbc that at least one potential seven-figure donor has expressed concerns about the free markets and suggestions that the wealthy may be insensitive to the poor. langone tells cnbc, quote, i've told the cardinal your eminence, this is one more hurdle i hope we don't have to deal with. you have to be careful about generalities. rich people in one country don't act as those in another country. i sat down with the cardinal to hear his response to langone's message. >> i said that would be a misunderstanding of the holy father's message. the pope loves poor people, he also loves rich people. he loves people, all right. and he's not into the condemning game for anybody. his famous renowned statement, now who a

. >>> speaking to michelle caruso cabrera, harris warned challenges still remain. >> obviously, we haveays since the springtime. we have exited the danger zone, we are stabilizing the situation, we're taking control of the situation. the challenges, of course, remain, but i think this is what the rating agents are beginning to register. the resilience of the secured economy and the determination to bring it back on tap, basically. >> so you mentioned that there are still challenges and hurdles. one of them must be the removal finally of the capital controls. you said earlier this month that within months, they would be fully lifted. does that mean you're still on target for january sometime? because the president had said earlier in the year that they would all be listed in january. >> yes. that's the aim of the government. let me say the afflictions are nothing compared to what they were. there are restrictions on all the new money coming into the economy. and most normal banking transactions can already be conducted without any restrictio restrictions. we aim to do away with all domes

here's chief international correspondent michelle caruso a caruso-cabre caruso-cabrera.o a record low. this is just getting worse. >> it's a massive bribery scandal involving the construction industry. and now today is threatens the prime minister erdogan. demonstrators took to the streets to call for the government to resign. they threw stones, empty bottles at riot police who responded with water cannons and smoke grenades. this is one of erdogan's cabinet members and a former ally quit, went on television to accuse the prime minister of fully knowing about the alleged corruption and then made the explosive suggestion that the prime minister should resign as well. as a result, erdogan is struggling to maintain control. today he replaced 10 out of his 20 cabinet ministers and has repeatedly said the scandal is the result of an overseas plot. this is turkey's second crisis this year. large violent demonstrations occurred this past summer. increasing them of autocratic rule. turkey has jailed more journalists than any other country. and as you mentioned, sara, the financi

i'm andrew ross sorkin along with joe kernen and michelle caruso cabrera is here. becky will be back tomorrow. traders returning from the holiday. weekly jobless claims are set to hit the tape at 8:30 eastern time. economist expect first time filing to decline. many international markets are closing to do boxing day holiday. it's boxing like the presence of boxing. anyway, just in case you didn't know. u.s. equity futures taking a look, setting itself up on this post christmas day. nasdaq, up about 5 points, the s&p 500 up 3 points. also, a lot of obviously great news for investors to be happy about this holiday season. data showing it's been the best year for stocks since 2009. the average u.s. equity mutual fund gained nearly 32% through december 20th. that edges oat the s&p's 30% gains during the same period. also, small company stocks eating their larger counterparts growth top value and returns of u.s. funds. >> the day after christmas has become a huge opportunity for the neigh's retailers. some began sales online yesterday. stores are looking to capitalize o

michelle cabrera

i'm michelle caruso-cabrera where we have breaking news out of moscow.ones reporting that putin has announced that they have a deal now with ukraine that include as number of things, normalization of trade relationships, an agreement to purchase gas and probably most important at this very moment that will impact the market is russia is supposedly agreed to buy 15 billion worth of ukrainian government bonds. they got 7 billion rolling over next year. their bonds were plummeting. there were fears of a default. were they going to turn to the west or to the east? if this is to be believed, we think they have now turned to the east and asked for help from the russians officially. here's the ukrainian currency. we're showing you a two-week here. it's been rising lately. if we showed you a longer period one, you'd have seen it plummeti plummeting. it appears the ukrainian leadership out of moscow have chosen to align themselves with russia. back to you. >> thank you very much, michelle. >> here at home a new review on vitamins. a review that says stop wasting

>> i'm michelle caruso-cabrera. we'll get downtown in a minute. hi, simon. for the second straight day an attack on volgograd. today's attack killed 14 people. investigators believe a male suicide bomber is to blame. muslim terrorists in chechnya said they would do their best to disrupt the olympics. today's attack comes from yesterday where you can see the explosion at the main train station. in this case investigators believe it was a female suicide bomber. 17 russians were killed in that attack. the shrapnel appears to match making authorities believe two attacks were coordinated. russia's stock market taking the attack in stride, no real movement there. the ruble fell 7.3% against the dollar. a list of etfs that track russia. you can see how they are faring. is it possible to secure a city like sochi? general, thanks so much for joining us today. what can russia do to make sochi safe? >> well, i think by all accounts made a huge effort secure the $50 billion games. a couple thousand athletes. but they are right in the middle of the north caucuses. more t

. >> there was that big announcement from michelle caruso-cabrera yesterday. >> i like the opening up to foreign direct investment. there's a bourgeoning mexican middle class. thank you for the compliment on the nikkei. >> best weekly gain of 2013. i jumped the gun -- >> you'll under this -- >> check out shares of twitter speaking up. they are up another 2% hitting another all time high and rbc coming out raising its price target on twitter to 60. it's currently at 46.44. twitter up 109% since going public last month. >> very big headline for netflix which could mean big things for the stock as well. julie boorstin, it's all about binging and not about christmas pudding bing, but something we're very much all guilt i of or at least i am. explain what this is and how big it is. >> reporter: well, netflix came out with news about binge viewing. when you sit down your television set, turn on episode of "breaking bad" and you sit there and watch a whole bunch at once. according to the survey people define binge viewing two to six episodes. >> isn't it considered not acceptable socially to

. >> michelle caruso cabrera joins us with -- >> business before the bell. elle caruso cabrera. how are we looking? >> another positive day with the rally throughout the year. it looks like it keeps ongoing. the santa claus rally. december is often a positive time of the year for stocks. anything related to the consumers. we have data out a few moments ago and in line with expectations. good news in line with what -- >> consumer spending is up a bit? >> a half a percent in line with expectations. consumer income came in lower than expected, but was higher. in november everyone is pretty relieved. not a reason we drag the stock market lower. >> what are we going to say? >> apple shares deal with china mobile. 760 million china mobile subscribers. that would be double the number of subscribers in the united states. if apple is going to make it in china, we will see. we have been hearing about this for maybe a week. we are watching shares of tiffany. they had to make the swiss watch maker, $449 million for a deal they struck a couple of years ago. it looked like

i'm andrew ross sorkin along with joe kernen and michelle caruso cabrera is

now, our chief international koerntd michelle caruso cabrera just scored an interview with the british hedge fund manager kicked out of rush b shah for disagreeing with the kremlin. and michelle joins us now. >> he is going to join us on the phone right now. bill broader, the founder of hermitage capital. mr. broader, thanks for joining us. you've been fighting a very long war with the russian government about the seizure of your assets. your attorney died in prison trying to we defend you. what do you say about this move from russia, from russia's president vladimir putin releezing mikhail today. why do you think he done it? >> it's terrible and a horrible tragedy that khodorkovsky put in jail. putin put him in jail. we're nine months away from when he was to be release and putin, after keeping him hostage for ten years, is saying look at me. i'm such a great guy. i'm pardoning him nine months early. what this is all about, it's all about pr before the olympics. putin is humiliated because obama is not coming, the german president is not coming, the belgium president is not coming. he

let's bring in michele caruso cabrera. is there a common theme in the anti-government themes across the world? >> citigroup has tried to coin a new phrase about the situation we're seeing in ukraine and thailand. they call it the vox risk in the emerging markets. vox iss latin for voice of the people, not just ukraine and thailand, russia, brazil, egypt, turkey, india, where we've seen people rising up. see the video out of ukraine it's gotten talk because they've knocked down a statute of vladimir ledden. why it was there i don't know. the police surrounding everyone there as they continue to protest this move away from the eu and towards russia. but so whenever you see people rising up like this everybody is quite inspired by it at first and realize there's a lot of investment implications as well. >> i will say something that sounds distasteful. >> unseemly. >> too busy, when people are trying to seize their destiny. >> a lot of these situations do ultimately tend to be good buying opportunities because they're literall

i'm michelle caruso-cabrera. news coming in from ukraine.eputy prime minister has said they will soon sign the e wurks trade agreement, the one that's been so controversial that still has protesters in the core of maiden square in kiev at this point. this is video from yesterday when police tried to clear them out. a situation that got incredibly tense. this morning we heard from the eu foreign policy leader that they thought that ukraine would actually sign this eu trade agreement that they had rejected back on november 21st. now, once again, the deputy prime minister of ukraine saying that they will sign the free trade agreement. we'll be watching for new video to come in from kiev to see the reaction from the protesters that are in the main square there. and also be looking at the currency and also ukraine's debt, both of which have been hit very hard. these are live pictures from kiev we're showing you right now. the headline is ukraine's deputy prime minister says it will soon sign the free trade agreement with the european union. guys,

thank you very much, michelle caruso-cabrera. >>> well, we found for you the ultimate stress relief iftting stuck at chicago's o'hare airport this holiday. the airport is opening a new yoga studio. it's inside terminal 3. and officials are calling it a quiet space to meditate, stretch, take a deep breath, do what you do. although it does not, i believe, come with a yoga instructor. the studio is available for free to all travellers. >>> all right. let's bring in mr. yoga himself, and that would be phil lebeau. i don't know if you have a comment on that. i know that's your home airport. you could be in that room chilling out, doing the sun god pose with your bronzed pecs popping out. other than that, the airlines lobby group is out with big numbers for the new year. how good are they for the airlines? >> they're very good, brian. when you take a look at what the airlines are expected to bring in in terms of profitability next year, they're going to be up around 19.7 in total profitability. that's the projection worldwide for 2014. now, you might look at that and say, wow! that's a heck

michelle caruso-cabrera has already worked a long day, back at hq. art here in the united states with puerto rico, because of its status as a national territory has similarities to an independent sovereign nation. they've been priced out of the market. they'll need to borrow before the summertime. the question is, how much, and will the markets lend it to them at a decent enough rate for them? if not, they're going to be in trouble. they've done massive teacher pension reform signed into law today. we'll see if that calms the markets about puerto rico. brazil in march, it's where we'll see the world's cup. remember, we've had issues with stadiums collapsing in brazil, because of such a rush there. they are so behind schedule. because of the money spent on the world cup and the coming olympics, there have been big protests in brazil about the terrible infrastructure in the country, and what kind of impact will we see there. plus, elections next year, as well. let's move on to turkey. this is another big hot spot just today. we have seen the lira in tur

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michelle caruso-cabrera will join us next with olympic sized theorys behind that decision. >>> stillrising interest rates kill economic growth? the ceo of remax sounds off on the state of housing. and why resales are slowing. "squawk box" on cnbc is coming right back. but with less energy, moodiness, and a low sex drive, i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low t treatment that can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or

cnbc's michelle caruso-cabrera.the environment, seniors, kids, and animals. that's why we created the share the love event. by the end of this year, the total donated by subaru could reach 35 million dollars. you get a great deal on a new subaru. we'll donate 250 dollars to a choice of charities that benefit your community. it feels good to be a helping hand. you give them the giggles. tylenol cold® helps relieve your worst cold and flu symptoms. but for everything we do, we know you do so much more. tylenol cold®. ♪ through 12 ice storms brewing ♪ ♪ 10 straight days raining ♪ 9 hailstorms pounding ♪ 5 mysteriously heavy holiday fruitcakes ♪ ♪ 4 actual tree houses ♪ 3 blackouts ♪ 2 weird to mention ♪ and a roaming horde of carolers ♪ ♪ with my exact same route [ female announcer ] no one delivers the holidays like the u.s. postal service. priority mail flat rate is more reliable than ever. and with improved tracking up to 11 scans you can even watch us get it there. and look for our limited edition holiday stamps. a

our chief international correspondent, michelle ka reca cabrera just got back from mexico.or the first time in 75 years american investors may finally get a crack at mexican oil. just by talking to a helmet. it grabbed the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and stadiums. but, of course, it's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. [ female announcer ] today cisco is connecting the internet of everything. is caused by people looking fore traffic parking.y that's remarkable that so much energy is, is wasted. streetline has looked at the problem of parking, which has not been looked at for the last 30, 40 years, we wanted to rethink that whole industry, so we go and put out these sensors in each parking spot and then there's a mesh network that takes t

three big overseas stories and our chief international correspondent michelle caru caruso-cabrera here to tell us about them. first let's start with snow in sochi. putin has ordered snow, right? >> that's right. as almost dictator of the country, committee demand it, and it will arrive. >> it will be there. >> yeah. no, so the story is that sochi is actually in a subtropical climate, believe it or not. it's dicey as to whether or not the mountains will have snow. they papged because they didn't have enough snow. what did they start doing it? hoarding it. stored from last year. plus 500 snow machines and they brought in a finish company called snow secure. so whether the snow is natural, manmade or even used, they are going to have enough snow. and you know what's really funny? it snowed this crazy this week. they have plenty of snow. read about it on cnbc.com. >> interesting article there. putin also in the news. he says he is now going to pardon mchale kortokovsky. >> he wanted to support the opposition, even considered running against putin. somehow he ended up in jail for tax evasio

michelle caruso cabrera. becky quick is enjoying a day off on this christmas eve day.ng ends at 4:30 eastern with gold trading finishing an hour later and electronic nymex trading connects at 5:15 eastern time. there is a lot to get in before the data front. november november durable goods is hitting the tape at 8:30 eastern time. the headline number there expected to rise by 2%. coming at 10:00 a.m., last month's new home sales and the richmond fed survey. the dow transports the s&p 500 and the russell 2,000 closing at record highs yesterday. the nasdaq ending the day at its

michele caruso cabrera will join us to describe the implications. >> let's get a quick check of markets. starting off pretty quiet. the dow is adding 16 points. a couple points higher on the nasdaq. on s&p 500 perhaps more significantly, bill are simply the levels we're looking at. 16,000 plus on the dow. 4,067 on s&p. >> let's talk about today's market action in our "closing bell" exchange with jem ma godfrey, we have anthony chan from chase,on n onon john naplatano and gem you tweeted, the headline allocation. >> we're starting to see rally fatigue. we think that will support the rally. good news is good news and bad news is good news. the fed is likely to remain supportive. this rally fatigue means people are reallocating away from growth into value. the biggest beneficiaries of this could be let's say, european equities over u.s. equities where valuations are looking tight. and opportunities within the financial sector and also risks there so you have to be selective. >> we'll get to that in a second. on this point about how expensive some value names are, how do you call it value i

michelle caruso-cabrera cnbc. >> some changing geopolitical tides.rnment is in turmoil after a corruption scandal erupted and the prime minister accused of firing law enforcement officials to prevent his implication. we have the managing director formerly of the turkish council. he is following the confidence in turkey. thanks for being here. >> thank you, kelly. >> turkey is mentioned as one of the fragile five, the bits that investors are worried about to use the acronym. why should the guys who say that turkey is headed for a crisis in 2014 rethink that point of view? >> turkey has been going through turk lent times for corruption starting december 17. and it seems like it's not going to be isolated or contained at the level it is right now, if there will be objective investigation going on it's probably going to reach the upper circuits in turkish politics and inner circle. so i think it's safe to say, that if -- before everything gets better in turkey, it's going to get even worse in the short term. >> and investors will want to know if this pol

joining us on set, chief international correspondent michelle caruso cabrera. good morning, michelle. >> good morning. clearly, nelson mandela's greatest legacy is his ability to bring the people of you south africa together and overcome racial divides. but at cnbc, we're aware that economic freedom is important to democratic freedom, as well. you saw the picture of the emergence from prison in 1990. at that point, he is a marxist, he was to nationalize the mines. by 1994, he's a completely different person. he's embraced things like privatization, a good monetary policy to control inflation. he's embracing the controlling of government expenditures, things that the imf today would say, wow, great job. in fact, if you read some liberal leftist logs, many of them are extremely critical of nelson mandela because he tried to out imf the imf. so a pragmatist is a good description of his economic legacy and economic growth improved under mandela's rule. it's still tremendous inequality in south africa, something they haven't completely overcome at this point. certain

michelle russo cabrera, stephanie link and andrew bush. thank you all for being here.oing on with this market? >> i think what's happening here is we're still trying to adjust this whole taper situation. you've got the budget resolution, we still have to get past that, but that paves the away for further tapering. the market is trying to figure out is that a good thing or a bad thing? i'm of the mind that it's a good thing because the economic data has been supportive of tapering. joy global was not that good. there wasn't a lot of macro data. i was focused on the goldman sachs financial services conference. yesterday and today the companies have been talking about a little bit better loan growth, cash flow. i'm taking away those are positive -- >> hold on. breaking news, the other piece of action we're waiting for on hilton. simon hobbs, what can you say? >> david faber hit it on the head. they'll price it at $20 a share as david reported this morning. what is new and we didn't expect is that it would appear that hilton is intending to increase the size of the offer,

michele caruso cabrera joins us with details on this.at's what a lot of people think at this point, yes. he was landed in germany erlder today. a picture tweeted out by his son, showing him being greeted by germans on the tarmac. he had been in a siberian prison for ten years. the reason he is there is because he crossed putin. he was officially charged with tax evasionle and financial crimes, however many believe the reason he really ended up in prison is that he funded the opposition against putin and even considered running against putin. i spoke with bill browder earlier today he runs a hedge fund that used to be the largest investor in russia until russian officials seized his assets and the lawyer who prosecuted the case died in prison in less than a year due to lack of medical care. he has the same assessment about what happened here. he thinks this is putin being self-serving. >> it's all about pr before the olympics. putin is humiliated because obama isn't coming german president is not coming belgian president is not coming. pu

michelle caruso cabrera is here with more on the story. >> two big headlines. been wondering would ukraine choose west over east? this certainly looks like they have chosen russia for a big signing sayre mother in moscow. slight nuance detail, no agreement on whether they'll join this customs union that russia wants them to join. so there's still, in theory, the potential that they could join a european customs union. but we've all gotten the signal. the second headline is -- and it's gotten less coverage, but i think it's important for our viewers, is that this $15 billion that russia has come up with comes from one of their sovereign wealth funds, $88 billion, it's their national welfare fund. it is supposed to be what they put aside for a rainey day for pensions because they, like nearly everybody else in the world have a lot of unfunded liabilities and this was supposed to be this rainey day fund, it was supposed to be invested in safe instrumentes. however, they have now taken their people's future money and invested in ukrainian bonds over the next severa

michelle caruso-cabrera yesterday with a fabulous piece about mexico.fine reporting in areas we have to spend more final right. >> you got that right. >> and lennar, is it too easy a story that you sell the housing companies here? >> it's been the right thing when rates go to 3. when you get there, you revisit. turns out the companies are making a little bit more money to get there. i don't have a thesis to buy those stocks. i have a theses to buy a whirlpool because i think there's going to be turnover. the cfo talked about when your house gets above water, you spend more money on it. so i'm not saying the housing related's bad but i don't have a thesis going on a home builder. not right now. >> not much green on my screen this morning. shares of hewlett packard up 2%. >> because i pushed a stock about as hard as i've ever pushed a stock in my lifetime. there will be people who said your head is -- i can't think of anything else other than the -- >> probably the reason. >> i pushed it really hard because the chart is great and i think meg whitman is pu

our michelle caruso-cabrera joins us here at post nine with more on the life of mandela and what a lifey people are focusing on history mendous legacy. natural for us to folks on his economic legacy. he admits when he emerged from prison he was a leninist, a marxist. this was part of a speech in 2003. "it is not a question any longer about whether the world embrace as free market economy. the globalized world in which we live in has made it imperative we open our markets both internally and to the outside world. the free market is not merely an american export, it is the acknowledged route for economies all over the world." >> we had robert johnson on earlier today, did some fund-raising for the amc, i think he did a beautiful job of wrapping up the import of nelson mandela's effect on the south african economy as well. >> from an economic standpoint, he understood that you simply couldn't confiscate all the white africans' assets and turn it over to blacks, which many people felt he should do, including people in south africa, but he recognized that south africa was going to be both a

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exclusive, the ceo of the russian sovereign wealth fund sat down to discuss those i shall with michelle caruso cabreraood morning. 38-year-old old, he studied at harvard and stanford. his job is to try to convince the world russia is a place to invest. the russian sovereign wealth funds invest in its home ones. most sovereign wealth funds are trying to diversify. his job is to coinvest with other sovereign wealth funds and gets them to invest in the country. why on earth is that so difficult? a lot of people have a lot of concerns about russia. and i asked him this question. he wasn't happy about it. people are concerned they're going to end up dead. people are concerned the rule of law isn't good enough there. we had a long intense discussion about those issues. we started talking about the sochi olympics, which is said to be a festival of corruption which it comes to the $50 billion spent on infrastructure. they do a lot of spending on infrastructure. i said tell me, have you done any investing in sochi? here is what he said. >> why no investments in sochi? it seems like a natural thing. >> secondly

>>> welcome back to cnbc, i'm michelle caruso-cabrera.ng, dear friends, on november 12th, i asked the president of russia to pardon me due to my family situation, and i am glad his decision was positive. the issue of admission of guilt was not released. as soon as we get that statement up, we'll keep showing it to you. remember, he has been in prison in russia for the last ten years, a former billionaire, ran one of the largest companies in russia. yukos, an oil company. when he ran into trouble with vladimir putin, he was arrested and charged with a number of crimes, but many people believe he was punished by putin for trying to challenge him. once again, he put out a statement. i'm glad his decision was positive. the issue of admission of guilt was not raised. i'd like to thank everyone who's been following the case all of these years for the support you provided me and my family and all those unjustly convicted and continue to be persecuted. he thanked his lawyer and family and friends and said he is looking forward to the new year. we

our michelle ka russo -- caruso-cabrera has the story. >> reporter: the renovations cost $180 millionpotential seven-figure donor has expressed concerns about the pope's recent comments. some of the pope's comments include statements such as, the earnings of a minority are growing exponentially, so, too, is the gap separating the -- there are many more references, negative in nature, to say things like the deified markets, clearly sarcastic. ken, who did not approach us of the story, we approached him, langone told me, your emnesn, you want to be careful. i spoke to timothy dolan about the issue yesterday. here's his response. >> it would be a misunderstanding of the holy father's message. the pope loves poor people. he also loves rich people. he loves people, all right? and he's not into the condemning game for anybody. his famous renown statement, "who am i to judge?" so i said, ken, thanks for bringing it to my attention, we've got to correct to make sure this gentleman, who's the only one i've heard, understands the holy father's message properly, and then i think he's going to sa

we have michelle ka ruse a cabrera, and it demonstrates how it's spilling over to other regions.are they arguing about? one group in parliament wants to support the opposition movement and the protesters in ukraine. the others do not. russia's support is a politically sensitive topic in georgia, as well, because it, too, is a former soviet republic, and as you can see, the sprawl unfolded. this comes on the same morning that the e.u. foreign policy chief claims that the president of ukraine has told her they actually are going to sign a deal with the e.u. remember, the protesters in ukraine and this brawl are all happening because of this concern about whether or not they should be aligning with russia toward the east or toward the european union to the west. but once again, the tensions in ukraine having a spillover effect in georgia. we're going to have to see how this all plays out. carl, kayla, back to you. >> unbelievable. thank you so much, michelle. >>> how far would you go literally to raise awareness for your campaign? one 19-year-old sophomore from yale is willing to go

michelle caruso cabrera sat down with the finance minister to determine how they managed that. >> youemember the scene, it was absolute chaos, the banks were shut down for two weeks, they were begging for billions from their european partners. people wondered if once again we were going to see the european financial system come apart. here we are, s&p upgraded cyprus last week. it's extraordinary. it took nine months for cyprus to get upgraded. it took four years for greece to get upgraded. this is harris georgeioti. we spent a lot of time talking about what happened and why it's so different. he said cyprus took really hard decisions early on. they cut spending immediately and early and budget cuts came at a quicker pace. he didn't compare that to greece. i'm saying compared to greece because i that you tell saw greece first hand. they're still fighting some reforms he don't want to do in greece. bottom line, he says he thinks the worst is behind cyprus. >> hopefully we have come a long way since the springtime. we have exited the danger zone, we are stabilizing the situation. we're