michelle caruso-cabrera is with us with the latest. michelle? >> that's a big story. they're taking over borders, trying to enlarge the area that they control. we'll bring you the details and tell you what john kerry is saying today as he returns to iraq. "power lunch" returns right after this break.

we have also with us michelle cabrera in northern iraq. peter, we've gotten word that we'll hear from the president here shortly. what else can you tell us. >> reporter: that's exactly right. we're going to hear from president obama here in the brady briefing room at 12:30 today announcing, we believe, some decisions in terms of the situation in iraq and any potential u.s. military intervention in that country. right now president obama is still wrapping up a council meeting, basically a trade meeting that's taking place across the block from us. in a matter of moments our cameras are watching the road between the white house and that building. we expect president obama to walk across to the white house for a meeting that will take place in the situation room with members of his national security council. we're told that in attendance will be secretary of defense chuck hagel, the chairman of the joint chiefs, martin dempsey and it's expected that secretary of state john kerry will be among those in attendance as well. john kerry is present

benchmark rose to $106.43 michelle cabrera is on the ground tonight. >> reporter: after many consultations with his national security team, president obama said today he is willing to take limited military action in iraq, but only sundunder certain circumstances. >> we're developing more information about potential targets associated with isil. in going forward, we'll take targeted and precise military action if and when we determine the situation on the ground requires it. >> reporter: he was quick to followup and say the number of personnel would be limited to 300 military advisors. >> american combat troops are not going to be fighting in iraq again. >> reporter: as he spoke, the battle for iraq's largest oil refinery raged on. the associated press taking photos of smoke rising from the facility and militants controlling check points and a humvee. with the refinery still inoperative, gas lines have grown longer in the neighboring region where hopeful buyers waited hours and hours in line in 110-degree heat. this refinery is operating at full tilt, but has the capacity to process only 10

for "nightly business report", michelle cabrera, northern iraq. >> west texas intermediate fell to $105.97 while brant crude was up to $114 a change and there was good news regarding energy production in the u.s. nk north dakota is producing 1 million barrels of crude every day thanks to the oil found in the shale formation in the western part of the state. >>> hold the phone, why is amazon a leader in e commerce jumping feet first into the very, very competitive smart phone market. >>> two senators have proposed raising the federal gasoline tax for the first time in more than 20 years to help congress pay for highway and transit repairs. chris murphy of connecticut and bob kosher of tennessee would like to raise the 18.4 cents a gallon federal gas tax along with the 24.4 cents a gallon tax on diesel fuel by 12 cents each over the next two years. >>> also in washington today, lawmakers had a tough time believing testimony from the ceo of general motors about how she's changing the auto maker's corporate culture in response to the recall of millions of def t defective cars. shares of gm end

michelle cabrera is in iraq and has more. >> reporter: islamic jihads may not be the biggest threat, it may be an oil refinery this is not the refinery in the news for the last three days because its under assault from the rebels. no, this facility is three hours away in the iraqi region of kurtistan. it makes crude oil into kerosene for cooking, gasoline and diesel. it's the push to create its own oil industry and stands in d defying of the government. it's a region of iraq and the people dreamed of having their own independently den country. they think they should be able to drill in the ground beneath them. their plan to pump a million barrels of oil per day. with exxon, chevron that has exploration contracts. baghdad says the moves are unconstitutional. >> could they have supremecy. whatever we do is legal and constitutional. >> reporter: they don't just have wells and refineries, they have built a new pipeline buried under ground because the iraqi government won't let them use the one across the boarder. it connects to turkey. when they loaded up the first tanker with one millio

msnbc's michelle cabrera are you so had several interactions. >> islamic militants are taking over a town about 50 miles west of po sul. at the same time they have not been able take baghdad, something they have promised to do late next week with lightening fast speed. thus far, it athe beleaguered iraqi army has kept them back. iraq is such a large producer of oil, a member of opec is sec only to saudi arabia, producing more than 3 million barrels per day earlier this year. there are homes they could be producing as many as 4 million by the end of the year, another key development today, u.s. secretary of state john kerry not ruling out working with iran when it comes to dealing with these islamic insurgents, both countries see them as a common enemy. it just guess to show you how the situation if iraq has turned geopolitics on its head when the u.s. will consider working with one of its long-time enemies. i'm michelle cab rer ro russ see in iraq. let's bring in dennis gartman, always good to see you. in terms of where we can see brent or wti go, at the beginning of the show, we had

our chief international correspondent michelle caruso-cabrera joins us from northern iraq. becky. i'm in kurdistan, northeast region of iraq. and as you can see behind me, lots of cars. looks like a normal day of work here in kurdistan. that's because it is because this area of iraq has its own army which is much, much stronger than the iraqi army that we saw melt away and utterly fail late last week. even though it's calm here just 20 minutes away, there are hundreds of thousands of refugees on the border to the west of iraq and also on the border of syria. they are escaping fighting that continues in the western part of the country. 50 miles to the west of here is mosul which fell in the middle of last week and then 100 miles to the west of here, another city fell this morning. talafar. city of roughly 200,000 which has been taken over by the islamic insurgents. it was a rough weekend here in iraq, as the iraqi government said they finally were able to start fighting back. they've started releasing video of aerial bombings they say they've done in the northwestern part of

michelle caruso-cabrera is with us with the latest. michelle? >> that's a big story.y're taking over borders, trying to enlarge the area that they control. we'll bring you the details and tell you what john kerry is saying today as he returns to iraq. "power lunch" returns right after this break. thank ythank you for defendiyour sacrifice. and thank you for your bravery. thank you colonel. thank you daddy. military families are uniquely thankful for many things, the legacy of usaa auto insurance can be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. >>> certainly iraq's western borders are virtually gone, erased by the sune group trying to march towards bags dad. our international correspondent michelle caruso-cabrera, who of course just got back from northern iraq. michelle? >> the united nations saying today more than 1,000 people, the vast majority of them civilians, have been killed in iraq this month. this comes as secretary of state john kerry is in nort

live now to the region for the very latest from our very own michelle caruso-cabrera. michelle?: that's according to the government. it's still not clear, though, whether or not it's true. the situation with the refinery quite confusing. we'll get to that. we want to tell you iraqis living in north iraq are feeling repercussions, look at this. gas lines. very long, long gas lines. hundreds of cars long. we saw actually one individual today. he and a friend had to push his car more than half a kilometer, half a mile, excuse me, because his car ran out of gas while waiting to buy even more gasoline. the situation, and the situation is not lost. the irony isn't lost on the iraqis who live here, who know the country produces more han 3 milli than 3 million barrels a day. >> supposed to live in the country of oil and gas, and suddenly we hear tomorrow there's no fuel. >> reporter: this has a lot to do with the situation happening in western iraq. first the refinery we told you, quite confusing, who's in control. it's been under attack. difficult to move gasoline supplies, and then si

. >>> our michelle caruso-cabrera is still in northern iraq for us once again today. it's been another day filled with very heavy fighting. over to you, michelle. >> we'll have those details coming up on "power lunch." >>> also, the biggest threat to iraq's unity may not be the sunni terror group. i'll show you one thing that baghdad is reay afraid of, coming up next in two minutes. just take a closer look. it works how you want to work. with a fidelity investment professional... or managing your investments on your own. helping you find new ways to plan for retirement. and save on taxes where you can. so you can invest in the life that you want today. tap into the full power of your fidelity greenline. call or come in today for a free one-on-one review. >>> check out starbucks. they're raying prices. next week customers can also expect to pay $1 more in packaged coffee it sells. trading down just about 1%. simon, back to you. >> 51 points away from dow's 17,000, despite the fact that fierce fighting continues today between rebel sunnis and iraq, government forces over

we want to go to our own michelle cal caruso-cabrera, has been in iraq all week.e exactly what we'll hear from the president when he comes out from the meeting with his national security team too. can you give us a feel what it's like there amid reports about this refinery producing 300,000 bears a day that we're keeping an eye on and other reports as well of sunni extremists occupying saddam's chemical weapons facility? >> reporter: yeah. that's the latest headline that's come out, which is of great concern. we're told that the peppens in there are not necessarily usable, but as we've learned through the process in syria, they can hang around for a very long time, and disposal of them is incredibly difficult, and we know that from the iraq war. the chemical weapons were poorly labeled, no the well stored. that's the situation to watch. only learned about that in the last hour. we're waiting for president obama. he's been delayed now. the iraqi government for sure, the kurdish government as well, were anxiously waiting to hear if there were going to be air strikes

michelle caruso-cabrera joins us live from northern iraq, with the very latest. hi i. . >> reporter: hey there, tyler, another town taken in northern iraq today, this time tal afar. >> this was the scene back when the u.s. invaded in 2030, now in the hands of an al qaeda-inspired group. at the same times shiites have been rallying for days. it appears for now the ad hoc shiite militias have blunted the sunni march toward baghdad. the iraqi air force joining the fight from above. this video was released by iraq's defense ministry this morning, reportedly showing an iraqi air force jet successfully attacking a building. iraqi military helicopters also on the hunt. take a look at this chopper fires a missile at the target, scoring a direct hit. it's difficult to say what the targets are and how they're related to the sunni insurgent fighters, but northern and central iraq, it's safe to say, has been transformed into a killing field. sources on the ground say despite the attack from the air, iraqi forces have not been able to turn the tide. american ships arrive just in kay

our michelle caruso-cabrera is live in erbil, iraq, with the very latest. michelle? >> reporter: hey there, scott. yeah, the iraqi government tried to convince everyone over the weekend that they were fighting back by releasing videos of targeted airstrikes and things that they had done in northwestern iraq in order to fight back the insurgents. still, the town of talafar fell earlier this morning, about 50 miles west of mosul, the first city that fell last week and really brought the whole world's attention to what was happening here in iraq. the reason the world is so interested, at least the business community is, because iraq is the second largest producer of oil within opec, overtook iran last year, in fact, producing more than 3 million barrels per day. the iraqi oil minister said the very day that mosul fell, that they believed they could still produce 4 million barrels per day. can that be done and what is the state of the oil industry as we see the price of oil rising due to the fears? i want to bring in a guest that we're lucky to have in kurdistan while we

let's get an update from iraq, michelle caruso-cabrera is in northern iraq with the latest. elle. >> reporter: hey there, carl. a big development in the last couple hours, could be the final push for maliki out. the shia sect has called for a new, quote, effective government. particular csignificance, the message delivered in friday prayers. the shia sect version, their jurisprudence, clerics have authority. we see this in iran, of course, he issued a call for arms last week to form militias to fight the insurgents and thousands of men rallied to do what he said. they heeded the call. we heard president obama decline yesterday to endorse maliki and thinly vailed comments suggest he was not supportive, secretary of state kerry said so. we are hearing voices from europe as well. it could be that maliki's time is already numbered. we'd like to show you local n p newspapers and cartoons. they tell a good story. this is a magazine here in kurdistan, northeast reason of iraq, semiautonomous hoping to be independent someday, there's maliki surrounded by bombs, and the labels on the

cnbc's chief international correspondent, michelle caruso-cabrera in northern iraq and brings us the test this morning. michelle? >> david, yeah, just about 100 miles west of here, another city, tally far taken by sunni insurgent rebels. another town that has fallen even as the iraqi government starts to fight back. the other headline is that the u.s. and iran in vienna, supposed to be on opposite sides of the table when it comes to nuclear talks, now going to be discussing what should be done relative to the sunni insurgents because they both consider the sunnis and what's happening here a problem and the rebels are their common enemy. strange combination of bedfellows occurring because of the situation in iraq. a lot of people are asking whether or not we are facing the impending destruction of iraq, as we know it. the disintegration, so to speak. i want to show you i kurdish newspaper, running this map which shows exactly that. they have broken up iraq into three different pieces. not coincidentally they have shown kurdistan to be bigger than what it is now. they've added two or th

michelle caruso cabrera is on the ground in iraq. >> the islamic state in iraq were isis taking another major town in northern iraq today. this time talafar, the town was the scene of heavy fighting when the u.s. invaded in 2003, and now it belongs to the al qaeda inspired group. in response to these mill dents, iraqis have been rallying for days now. recruited by clerics to fight against the militants who are among the sunni secretary. the add hoc militias -- the iraqi air force joining in from the fight from above. this video is released this morning. it reportedly shows an iraqi air force jet successfully attacking a building. this shows an iraqi helicopter scoring a direct hit. it's difficult to say what these targets are and how they're related to the sunni fighters, northern iraq appears to have been transformed into a killing field. despite the attacks from the air. iraqi forces have not been able to turn the tide of fighting, one of the reasons the price of oil hovers near highs for the year. for fear that it will become more widespread. even though there haven't been major disr

michelle caruso cabrera joins us from the northern part of that country. there's probably a delay, michelle, so i'll just keep talking for a second. when i read it, it sounded to me like maybe some of these guys weren't just for the embassy, but might be providing some type of advisory logistical support if there are drone strikes or something. did i get that right or not? >> it's hard to tell. so the vast majority are for marines going to the embassy in baghdad and then to two consulates in the country, one where the oil production is and another consulate here in kurdistan in the northern party. but it did sound like there were support personnel advisory. hard to tell, joe. and, you happen, it's hard to make sense of it all in what we could call the fog of war here. let me give you some of the other headlines. that is the first headline, up to 2735 troops are going to be deployed. the other headline is that nbc has confirmed that the u.s. and iran did discuss the situation in iraq and the margins of a meeting in vienna yesterday where the main event was s

michelle caruso-cabrera, what's the latest there? >> hey there, bill. remember last week there were reports the isis insurgents stole $400 million from a bank in iraq and that they may be worth as much as $1.5 billion from their oil sales in the seized wells in syria? nbc news reports it's not true. citing sources in the u.s. intelligence service, it's believed isis stole millions of dollars, not hundreds of millions of dollars, and analysts also don't think isis has enough money to control the vast swath of iraq and syria that they've taken over, a scenario of 8,000 people in an area the size of wyoming. if you focus in on just the part of iraq they control, that area is used to receiving $12 billion out of iraq's annual $120 billion budget. roughly, $1 billion a month from baghdad, covering food subsidies, government salaries, hospitals, among other things. those payments have now stopped. former ambassador charles reese, who is now at the rand corporation, says isis doesn't get enough revenue from other operations to make up for that. >> while isis i

we will have more from michelle caruso cabrera on the ground. coming up in a few minutes. >>> in another region of the world, russia cutting off gas supplies in ukraine after the two countries failed to agree on a payment. and then there are concerns about argentina. the country facing default if it does not repay $1.2 billion by june 30th. >>> the u.s. supreme court ruling out an appealing against critters. u.

our michelle caruso-cabrera is in iraq and joins us now with the very latest live from the country. ter: hi, there, kelly. yeah, that's one of several key developments happening in iraq today. first, yet another city in the northwest of the country falling to the insurgent islamic rebels. at the same time, however, they have not been able to overtake baghdad as they promised they would late last week. so, that's a little bit of good news for the iraqi army and the iraqi government. one of the reasons why the world is so focused on this region of the world and the battles going on here is because iraq is a major producer of oil. it's a member of opec, and the second largest producer of oil within opec, second only to saudi arabia. this year iraq was pumping as much as 3.6 million barrels per day at one point. you can see from this chart that we're showing you that it actually had finally started to recover from the war years. i want to show you this map. so far, when you look at the oil production in the country, it's in the northeast of the country, in and near kurdistan, where i am,

chief international correspondent, michelle caruso-cabrera, in iraq with the latest. michelle, good morning. >> reporter: good morning. it's increasingly clear that the prime minister of iraq is going to struggle to retain his job." the wall street" journal reports today that based on circles outside the united states and middle east policy consul at that particular times that in conversations they are having with the administration, the white house is looking for potentially a different leader of iraq, similar to who could perhaps bring the country together. the country had an election in april. he's been prime minister for a long time, his party has the most votes. in theory, he should be able to bring together a coalition government, but considering how divided the country is between sunnis and shites, is there someone to bring the country to the ethically? they think that could go a long way as others look the other way as the insurgents, convince them to support the central government because they are not doing so right now. the other big headline is that baghdad

for the latest we go to our michelle caruso-cabrera who is in iraq. michelle? >> reporter: hey there, scott. developments on the energy and battle front. start with the energy front. iraq's largest refinery has been shut down and foreign staff evacuated. officials told reuters. iraqi officials say they are still in control of the refinery, but it is surrounded by islamic militants. the refineries produce products for internal consumption leer in iraq and supports, for example, the power grid, producing kerosene et cetera. in the south, where most of the country's oil reserves occur, the facility well out of reach of the jihadists. bob dudley, in london today told reporters they're increasing production in iraq. >> well, bp's assets are down, a long way from the trouble. production is being increased in response to requests by the government. it's a long way. we, of course, are vigilant removed non-essential production staff out of there. we continue to operate. haven't miss add beat so far. >> reporter: as for the battle front, the sunni insurgents pushed furth

and ukraine signs a historic trade pact with the -- and -- our international correspondent michelle caruso-cabrerare on the russian market and a pretty balance call from the white house, as it turned out, michelle. >> that's right, simon. at that agreement was signed today, angela merkel threatened new sanctions again against russia if there isn't quick progress on peace in eastern ukraine, but investors in russia don't appear to be too afraid of those anxiouses. do you remember when former white house press spokesperson jay carney said this? >> i wouldn't if i were you, invest in russian equities right now. unless you're going short. >> you know when that occurred? right there, march 18th. that was about the bottom of the russian market. that being pointed out to us today, i'ming by jim grant at grant observer. >> wow, but a good contrarian indicator. >> big time. >> thank you, michelle. >>> turning to the sunni group between the in an attempt to set up an islamic state, does i.s.i.s. have enough? >> remember the report last week they stole money? nbc news report that is not true, say the mayor o

michelle caruso-cabrera is live in northern iraq with the latest. michelle? >> hey there, melissa.the violence has reached baghdad. seven people are dead in a car bombing in baghdad in a market that's frequented by iraqi shiites. remember the islamic rebels are from the sunni sect. more than anything, they said they didn't fear the rebels arriving, because it's so well fortified. more than anything they feared car bombs that would come from rebels that had infiltrated the city. indeed we have seen one of those today. still, the majority of the fighting is taking place further north. they're struggling to cope with an influx, the 35 beds in the city's only trauma center in erbil are full. we counted roughly 2,000 refugees in that area. they continue to come from areas that having occupied by the rebels. the u.n. high commission on refugees believes that there are several hundred thousands iraqis displayed due to the violence. not all of them end up in a refugee camp, but certainly those who are most desperate end up in desperate situation. big news out of kurdistan as well. the semi

so let's kick it off with our chief international correspondent michelle caruso-cabrera. give us the latest on this, michelle. >> the group linked with al qaeda is on a massive offensive and believed to be 70 miles from baghdad. the group is the islamic state in iraq and its leader calls himself, no joke, maybe he thinks it's funny, abu bakr al-baghdadi. more extreme than al qaeda, founded of course by osama bin laden. the iraqi government is desperate asking the united states for any kind of help possible to defend the capital. president obama spoke about the situation two hours ago. >> i don't rule out anything. because we do have a stake in making sure that these jihadists are not getting a permanent foot hold in either iraq or syria. >> take a look at this video. what you see are iraqi army uniforms, soldiers in the iraqi army abandoned their post, stripped off their uniforms to hide amongst civilians as the al qaeda linked group advanced toward baghdad. the u.s. trained that army and its performance in this the battle does not speak well of its professionalism and val

let's get to michelle caruso-cabrera, who is live for you in northern iraq with the very latest. michelle, number one, i hope you're safe. >> we are safe here in kurdistan. they have a strong military here, and as a result there's more -- it was a bit of good news and bad news for the iraqi government. the bad news was yet another town has fallen to the islamic insurgents, a town called tal afar. at the same time insurgents were not able to take baghdad as many thought they could do late last week. at the same time the iraqi government is wage waging a pr war. is the iraqi air force released footage to the associated press yesterday, which they squlams shows air strikes being carried out against i.s.i. circumstances and their hideouts. and it shows various buildings, vehicles and people being hit by explosives. satellite coordinates on the video suggest the attacks near the town of ishaki, which is near tal affair. here in kurdistan, which is in the northeast of iraq and what's called a semiautonomous state, the iraqi army is still big vilified. kurdistan has its own military, and

michelle caruso-cabrera also following the fighting, and first, though, we go to jane wells a u.s.ontractors who are trying to escape the danger in iraq. >> some sxloiees are become evacuated. lockheed in the process of selling to iraqi, tell cnbc as part of efforts, it is pulling, quote, a small cadre from balad air base. quote, all lockheed martin employees are safe and security at this time. boeing telling us it does not comment on the status of employees overseas. it owns in situ, but the operators to run them in foreign theaters. it's unknown if there's any in situ employees in threatened areas, though there have been employees at balad. "the washington post" reports siemens is working to get about 50 employees out. "ed daily mail" reports that several hundred american contractors still want to leave. mean thai the post reports that personnel at the embass in baghdad are staying put and protective services like dyncorp saying it won't discuss security measures, but triple canopy says it is monitoring the situation and assuring the safety of our clients and employees. >>> with

michelle caruso-cabrera is our chief international correspondent. she just literally got off the plane from northern iraq. she's back with us. >> and there's more to tell you about. john kerry arriving in besieged iraq today to meet with nuri al malaki, as they talk more are falling to the al qaeda-linked sunni group, and moving closer to baghdad. take a look at your screen. this is a border checkpoint between iraq and jordan. intelligence sources say sunni tribes this seized control of that border after armies pulled out of the area. this video presumably shot by the sunni rebels. it could not be immediately authenticated. they have vowed to kill king abdullah, the leader of jordan. yesterday an antitank missile hit a water truck killing a 13 years old bon. the israeli air force struck back hitting targets on the sir yarn side of the border. hamas is vowing a third intefad intefadah. sue, back to you. >> sue, thank you very much. given what michelle just laid out, how should the oil market react? peter, you know, michelle just laid out a very compe

it looks like a story of good data, bad headlines, our chief international correspondent michelle caruso cabrera covering the story from englewood cliffs. >> the official data from china, which many do not trust at lately it looks better. anything above 50 skugts expansion. the numbers there seem to belie the headlines coming out of china's business press every single day. the worst are coming from the property sector. noun performingperforming, in s look at the sales volume of primary housing. down nearly 35% compared to a year ago. beijing sales volume of primary housing, down 23% from a year ago. a region of china has changed the migration policy. the key thing there is to save the property market. the slowdown is so strong that they announced more easing measures to try and support the economy. there is a couple in the amount of serves banks have to have to get a certain kind of living. the royal sector and small and local sized businesses have been ignored by the big state run banks. them see the slow jodown, is it bigger than -- is it something big, something systemic, if we see a big impl

. >> michelle caruso-cabrera, thank you. >>> well, priceline is buying opentable for $2.5 billion. we'll look at who could be next. >>> if you think your dad is embarrassing, wait until you see what governor chris christie did last night. remember, he was recently voted dad of the year. is this trophy in jeopardy? >>> and jim cramer says it may be time to ring the register. do the traders think profit taking is the right move right now? that and much more straight ahead. in today's market, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price, maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today. over 1.2 billion eyeballs are on us during the two weeks at wimbledon. true tennis fans want to know what's happening, they don't want to j

i'm michelle caruso-cabrera with an update on a developing story.rico's debt is slumping in mid trading session. anything related to their utilities, the water authority, the highway authority, the sewer authority, the immediate reason is the downgrade from moody's, but the reason moody's downgraded is is there's a brand-new law that now allows for the rue structuring the 9 public utilities. significant when investors were considering getting into risky debt, their concerns was it's not a country, not a state, what is their bankruptcy scored in there isn't one, but they built one at least for this section of bonds, so they've been selling off. but in the municipal bond market, that's a huge move intraday, particularly when you look at the electric utilities bonds, some haven't traded since mid april. we're showing an index of a bunch of muni bonds. keep in mind there's all kinds of puerto rico bonds. general obligation bonds actually trading better day, because some investors perceive them to be protected, because maybe puerto rico has chosen where

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chief international correspondent michelle caruso-cabrera take a look. >> there haven't been a lot of democratic reforming, but lots of economic reforms. unbelieve house it's different. we'll take a look right after this break on "power lunch." don't go away. we're moving our company to new york state. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. >>> this is the iconic image of the tiananmen square uprising. today marks the 25th an verse of the massacre that saw the chinese army gun down hundreds of civilians in a brutal crackdown on a protest for. merck merck is here to look at then and now. hard to believe it's been 25 years. >> absolutely. at

my number two on the hot list, michelle caruso-cabrera dug into the oil export numbers for iran, andow past all the quota requirements put on by the obama administration. gets deep into the numbers and interviewed a few administration officials that seem to be doing the backstroke on it, but a fascinating read. more than 10,000 people read that story already and then number three, phil lebeau looking at today's auto sales numbers and how the consumer has changed what that is doing for them. the consumer seems more willing to go in and look for a car not because they need it but because they want to buy a car. big changes and we saw that in the numbers today. >> willing and able. >> that's absolutely the story. elon musk's comments about how he thinks within a year as phil lebeau flagged for us, you'll get on and off the highway without touching the steering wheel. that's going to be a big talker for the next 24 hours. >> put that story on the website and it's climbing up again and jostling some others out of the way. >> let them duke it out. good to see you, allen. don't drink too mu

michelle caruso cabrera joins us now. michelle, we are hearing some reports now that secretary kerry may be in baghdad soon. is that realistic considering the security situation? if he does go, what's hesitate message to prime minister maliki? >> i haven't heard those reports. we've been out shooting all day. whether he can get there securely, we haven't seen attacks or the jihadists arriving to baghdad in any numbers. we have seen two car bombs this week that have left several dead in shiite neighborhoods. you would assume that if secretary kerry were to go, i think his message would be similar to what he spoke to yahoo! last week and the interview he gave to savannah guthrie at cnbc this week, there has to be something done to make everyone feel included and this can't be just a shia government. it has to be a government for everyone in order to calm the situation down. when you talk to sunnis on the ground who are not jihadists, they are not necessarily sympathetic to the insurgents, but they offer no resistance and the

our chief international correspondent michelle caruso-cabrera here with the implications. what exactly do we mean when we say negative interest rates? >> so just like you and i keep our money in a bank, we have a bank deposit somewhere -- >> get 0.10%. >> exactly. banks have deposits, their central bank. now the central bank of europe is telling all those banks, if you keep your money here, we're not going to charge you to keep your money here. >> so what they want is for those banks to lend that money out to the consumer and the real estate economy, et cetera. >> exactly. go put it to work. >> you're not going to make money. you're going to lose money. ecb also announcing a targeted ltros. what in the world are they? >> we have built a wall graphic to explain. >> look at that. >> a tltro is, targeted long-term refinance operation. we built it on purpose. so the letters -- there they go. that is a really, really wonky thing. >> yes, it sounds it. >> but the idea is very simple. the head of the ecb has created a structures, and they said okay, here's what we're going to do

take a look at oil prices, they have been steadily going higher for the past two, three weeks michelle cabrera so joins us from iraq. >> reporter: hey, the refinery in iraq, the largest in iraq, is having a ripple effect on products like gasoline. fe at the same time, there is the battle front where kirkuk is right in the center. it's about a two-hour drive west of here, they have insurgents on a lot of sides. we had a chance to sit down with the governor of kirkuk. he lived in the area for decades. he was a neurosurgeon, a very young resident at george washington university when ronald reagan and james reagan were shot. he was a junior member of the team that attended james brady. he is a neurosurgeon. now he's in kirkuk in the center of this tough spot on the map. i spoke with him first that the army abandoned his city. here's what he said. >> the iraqi army we few we had a lot of deficiencies. it was a checkpoint area. it was not army in a sense where you have discipline, training, commitme commitment. >> he gave us an analysis. he says a lot of people say this is about extremists. unfortun

michelle caruso-cabrera joins us from northern iraq. michelle? >> hey there, becky.high. brent trading at $115. near $115 per barrel over in london as there are concerns about disruptions. so far, there's been no effect on iraq's exports. even its production. by the baiji refinery under siege by militants. it's unclear who controls it at this point but it is offline. so in this part of kurdistan -- in this part of iraq to the east there is a gasoline crisis. take a look at the lines that are all over the region of kurdistan and northeast of iraq, because 300,000 barrels worth of capacity were -- refining capacity has come offline as a result of the baiji refinery being under attack. and the number of people who are now lining up here because they escaped that part of iraq to come here to try to buy gasoline and escape violence has surged dramatically. and so the lines are extremely long. we went by one line that had at least 500 people. people waiting hours at a time. and keep in mind, it's 109 degrees out today. we visited the largest refinery here in kurdistan. it'