the oecd and moody's. >> oecd, the global think tank, and moody's, george. not very good. let me explain. moody's has said that the risk of multiple defaults in the eurozone has risen and the ratings of all eurozone countries, including germany, are threatened. agency has basically added its voice to banks and other institutes that say the crisis is entering a crucial failure. the oecd has warned that the region is at a severe risk of recession. >> confidence is weakening. confidence in households and in companies, business and consumer confidence is dropping. why is that happening? we think most of the cause of the confidence drop which turns into lower activity is in itself a result of what is seen as to be an inadequate policy response in the euro area and in the united states. >> david, a bond expert, agrees that time is of the essence. >> we have to somehow get investor confidence back and quickly. this is a good week to talk about this. we have approximately 17 billion -- in supply this week. the supply is relentless. next year, we're looking at billion of950, bonds

we have moody's doing down grades here.ave a look at what's been happening in asia, exactly the same. big gains to start the week in asia and that was pretty much based on hopes that europe will provide some sort of solution to the on going crisis here. you see the nikkei and japan up by 1.5%. hong kong up by 2%. the s&p in australia up by more than 2%. the numbers were helped in asia by what happened in the u.s. on the black friday shopping frenzy, big numbers we spoke about earlier. that certainly helps the exporters here in asia. it could be a slightly better christmas for them. other things to talk act here, very quickly i should mention that olympus is down 10% today. that's the story we've been following pretty closely, a bit of profit taking going on at ol lum pus after a big rally in the stock over the last ten years. another company we're speaking our our eye on this morning is qantas, it's announced a 66% drop in pre tx earnings, and there are reports it's planning to float a premium asian company. qantas made a b

russia it's doing all right but the kind of to say they will have to go through moody's is downgrading the russian banking sector and the ruble is losing its value and all this trouble to russia's biggest banks there's a very back celebrates its anniversary saying it's going to become a transnational company. is it badly while we'll never get any good i always heard that you're going to grow for others who are struggling to survive we're asking all the banks deputies see the. rushes banking burbank turns a hundred and seventy this month through the years has become the largest bank in eastern europe about half of all russian citizens retail deposits for banks brand is worth nearly twelve billion dollars which makes it one of the strongest banking brands in the world instead of a birthday party the company has arranged a conference to figure out its future urban he's aiming to become a transnational financial institution in the next ten years but it's not that easy the ongoing economic turmoil and financial times. hello and welcome to the show thanks for having us thank you very much fo

we have a warning from moody's.the european finance ministers meeting in brussels later today. there was optimism surrounding that. clearly i think the market already bought into that and is selling what really was quite a strong rally on monday. here in the uk, the chancellor, finance minister george shek ka has a difficult day ahead as he admits the country's economy is underperforming. in his budget statement osborne says he's set to miss his target of missing the budget deficit by 2015, but he will set up measures including credit easing and youth employment schemes to get the economy back on track. in march, the office for budget responsibility set up by george osborne himself predicted 2.5% gdp growth for 2012. now, on monday the organization for economic cooperation and development, the oecd said that 0.5% is a much more realistic figure, very clearly it's going to take a while to get out of this mess andrew. >> certainly the uk not alone in facing those sword of problems, charles. we're looking at the number

ratings agency moody's has posted a warning on france's credit worthiness. moody's investors service expressed worries that a recent rise in interest rates on french government debt and weaker economic growth prospects could eventually be negative for the country's credit rating. french bonds now pay about 3.5%, twice the amount germany pays. another potential case for the ratings agencies, as an effort to end the united states mounting debt crisis, looks like a big disappointment. the so-called super committee does not look set to reach an agreement by a self-imposed monday deadline. the bipartisan group has been talking for three months. apparently, it has reached a bit of an impasse over taxes and spending levels. barack obama created the committee after -- the united states will continue to borrow more without saving elsewhere. a recipe that has landed so many euro zone government in trouble. all the best news conspired to send european shares to their lowest levels in several weeks. for more on monday's market plunge, our correspondent sent us this summ

>> port moody. >> barry lives in port moody. >> we'll look into it. >> hold it a second. what did he win? >> he won a $2 million house. >> give me the phone. >> i know people are going to think this is kind of fishy, don't you? >> how many deleys are in port moody? >> i think just me. >> hello! two million? oh, me goodness. >> i want to know if he showed up the next day. >> i know. if that happened to you, you would certainly give it to charity, wouldn't you, doug? >> of course, doreen, of course. all $2 million would go right to clarity. if it was the weather guy, the money would go but dan would not be here tomorrow. for sure. is he here tonight? >> i hope so. >> we have a pretty big storm system that looks like it's heading our way but looks can be deceiving sometimes. let's look at show you what's happening out there right now. a beautiful shot across our area and really a pretty night tonight after a gorgeous day. we saw a lot of sunshine and high temperatures above average for once. we've been below average, even though yesterday was quite nice. we were below averag

moody has downgraded russian banking sector recently so what does it mean do you mean that you will rise the curse of borrowing inside that country. when you say you refer to the bank you think about banking sector the cost of borrowing is driven mostly by by the level of risk again we sense that any possible slowdown to the russian like record would not be overstocking. rather something that is gradual and not as dramatic and therefore maybe some gradual adjustment to the cost of credit for different type of war is maybe. in you but i don't think it is going to be universal shock for everyone with big increase in the cost of credit well there are signs there these days russia banking system is going through sort of a liquidity squeeze does it mean that the central bank will be there tightening its monthly policy in the near future well. central with respect to the monetary policy and liquidity in the banking sector not necessarily tightening what systemic duty the central bank is to perform is to make sure that this system is coherent and operates. stable e in any conditions that the ma

moody's is downgrading the russian banking sector and the ruble is losing its value all this trouble russia's biggest bank there's a very bad celebrates its anniversary saying it's going to become a transnational company. how is the u.s. . are struggling to survive. banks. russia's banking burbank turns a hundred and seventy this month through the years it has become the largest bank used in europe about half of all russian citizens retailed represents burbank's brand is worth nearly twelve billion dollars which makes it one of the strongest banking brands in the world instead of a birthday party the company has arranged a conference to figure out its future he's aiming to become a transnational financial institution in the next ten years but it's. the ongoing economic turmoil and financial system. thanks for having us thank you very much for being with us so first of all congratulations it's the one hundred. burbank is the only bank that survived the socialist revolution of nine hundred seventeen then another revolution that no idea going to work so so so so it's been there forever

moody's warning to washington. and why you probably present thankful for your turkey day grocery bill. >>> the unique way one woman is getting celebrity to join her at the breakfast table. >>> coming up, chiefs get a new quarterback. duke and kansas go down to the wire. what does the nhl and macy's thanksgiving day parade have in common? >>> good morning and welcome back to "early today." i'm lynn berry and here are some top headlines. a tragedy after a small plane carrying three adults and three children crashed into a mountain in arizona. the debris field, about 40 miles east of phoenix, could be seen in the rugged terrain where law enforcement officials say one child has been confirmed dead and there are no signs of survivors. >>> after 33 years of rule and months of bloody demonstrations, yemen's leader ali abdullah saleh has agreed to step down. he's the fourth leader to lose power in the arab spring uprising this year. >>> one scene is the heir-apparent, james murdoch resigned, overseeing his father's english

once again moody's rates dept jobs burbank eighty three which is the fourth lowest investment grade and one level above the government does that mean that it's very bank will be renewing and reviewing its business policy. for what purpose for the purpose of technically following any ratings i don't think so we will look at you i don't know but you all see we don't care about ratings i think even the prime minister said we don't care what no we do is we do i know you do we do care about the ratings but i think. going as far as saying oh you change your strategy for the sake of improving your rating would be a bit and over like like me like. it better not was true volatile the fundamental can competitive advantages of spare bank transcending and not only ratings but generations and it is our strategy is to make the most of them commercially on one side but on the other side not to forget that it is satisfying the needs of the clients the briggs's the profits and you know working exclusively for profits ratings or any fact financial parameter alone disregarding your client is dead and

moody's warning to washington. and why you probably weren't thankful for your turkey day grocery bill this year. >>> coming up, the chiefs get a new quarterback. duke and kansas go down to the wire. and what does the nhl and the macy's thanksgiving day parade have in common? you're watching "first look" on msnbc. things can get out of control pretty quickly. so i like control in the rest of my life... especially my finances. that's why i have slate, with blueprint. i can make a plan to pay off big stuff faster... or avoid interest on everyday things. that saves me money. with slate from chase, i'm always in control. financially, anyway. get slate with blueprint and save money. call 855-get-slate today. but is she eating sugar this week? maybe she wants the all natural, zero calorie stuff. but if you're wrong, you're insinuating she's fat. save yourself. it's only natural. [ female announcer ] new and improved swiffer dusters with dust lock adhesive can clean virtually every surface in your home. ♪ its thousands of

moody's warning to washington. and why you probably weren't thankful for your turkey day grocery bill this year. your first look at this morning's business headlines are straight ahead. >>> coming up, the chiefs eget new quarterback. and what does the nhl and thanksgiving day parade have in common? you're watching "first look" on msnbc. [husband:] getting cold out here. [wife:] in here too. we need more affordable energy in this country. we need to protect the environment. what about the economy? what about our planet? [announcer:] at conocophillips, we're helping power america's economy with cleaner, affordable natural gas. more jobs. less emissions. a good answer for everyone. so with affordable energy that we can get to safely... we could afford to eat out more often. our daughter likes my cooking. don't you lori... lori? [announcer:] conocophillips. it's like having portable navigation. a bluetooth connection. a stolen vehicle locator. roadside assistance. and something that could help save your life - automati

moody's issued a dire warning about french bonds. and a new prime minister in spain was already under pressure to unveil a plan to rescue that country's economy. as a result, stock markets in france, germany and the u.k. all lost about 3% today. here in the u.s., the volatility that has whipsawed stocks for weeks continued while volume on this holiday week was paltry. big board trader jonathan corpina says investors are simply fed up with the constant stream of negative headlines. >> it seems like there is no plan in place for europe, it seems like they're forming new governments, continually talking about restructuring of the euro. that takes time, that takes a whole process. investors they want action and they want it now. >> reporter: despite a wild ride in the last 11 months, after today's selling the dow is essentially flat for the year. experts say investors are right to worry about their portfolios, particularly now that u.s. politicians are creating even more uncertainty. >> the market is more frustrated with the negotiation

in port moody. i'm not kidding. >> he is a jokester. really believe what comes out of his mouth the first time, anyway. are you serious? >> yes, i'm serious! >> i had a little dream about this you know? but it never comes true. >> reporter: but it did this time. barry has his choice of four luxury residences or $2 million cash. what is he going to do? >> well, i think the prudent thing would be to -- go to vegas right away and put it all in red. >> yeah. see if we can double it. >> reporter: in fact, they have been needing a larger home ever since little angelee came along and increased the family head count to five. as for eden, only one thing wants. his name is j.j. >> i've always been wanting a cat and i was really happy. >> she has been begging for a cat. we have been, well, in a townhouse, do we really want to have a cat? but i think you're going to have your kitty cat, so this is the happiest deley today because of the kitty. >> all right. >>> coming up later on "the early show," the michael jackson manslaughter case goes to the j

three companies-- standard and poor's, moody's, and fitch-- have come up with a system of bond ratings. those agencies evaluate the finances of bond issuers and then rate their risk of default. see these as, bs and cs? groupings of these letters reflect how much risk there is in getting your money back, says mark adelson, chief credit officer at standard and poor's. >> it is every bit as much an art as much as science. it's not just a question of plugging numbers into a spreadsheet and calculating financial ratios. it's about understanding the economy and policies of a sovereign or municipal credit, and understanding the business profile of a corporate credit. >> reporter: at the top of all the bond ratings is triple-a, the absolute best, the safest. move on down the scale to double-a or triple-b. bonds in this range are said to be "investment grade." that means the risk of a bond issuer defaulting is fairly low. drop below that level and it falls into the so-called "junk" or "high yield" category. that means that the risk of default is considered higher. and to make up for the greater

>> it's a barry deley in port moody. how many are there? port moody?just me. >> congratulations, you got -- what did he win? >> he is going to retire now. >> he won a $2 million house or something. >> are you serious? >> i'm telling you. >> i had a dream about this. >> hold up. >> it never comes true. >> lucky winner was their sportscaster and he was at the grocery store when he got that call. >> a father/daughter dance like none other. a texas wedding, treated to quite a show. the bride and her father danced to 10 motown and top 40 hits. it started out with a typical temptations classic, but after that, nothing was typical. take a look...: [cheering and laughter] >> and the dancing duo got a final laugh, they ended with beyonce's hit, single ladies. now a widding story with a very different ending. a new york city man has filed a lawsuit against his photographers, todd remusis seeking $48,000 to recreate his 2003 wedding. now, he says the photographers missed the last dance and bouquet toss and he wants a do-over. he wants to bring everyone back to ne

then with just three weeks to go, local residents and cousins chuck and paul moody bought the mill. > are tired of hearing we can't do it. it is going overseas. we can do it. >> right now they have 35 workers. the goal is to raise that to 50 by year's end and to double that number in 2012. why would the moodys, who know nothing about the business, with family money on an abandoned blanket factory. >> probably stupidity more than anything. >> reporter: but they're not quite the novices they claim to be. chuck is a retired dairy queen executive. >> want it looped over. >> reporter: paul, a lawyer and former business owner. >> are we doing okay? >> reporter: they didn't know how to make blankets, but they knew who did and most of their first hires were former workers like jenny jones and mary boudreaux. >> we need their expertise and their guidance and stewardship. and they needed somebody to step up and say, you know what, this thing is worthy of saving and bringing back to life. >> it is great having a job again. >> is that emotion or are you trying to pick your words carefully? i can'

business desk russian stocks closed in the red poling my six biggest gain in seven weeks that's up to moody's investors service warned of downgrades for european banks and one of the figures in opposites bulletin and twenty minutes time . seven pm in moscow i'm at treasure good to have you with us here on r.t. our top story a russian woman accused of being a spy has won her legal battle against deportation from britain catches a two event here was accused of trying to siphon information while having an affair with a british member of parliament she was working for bennett has more from london. the cotton panel of three judges including a former head of the british security service ruled on balance of probability she was not and is not a russian spy but is not certainly not we need her to reach this point she was arrested twelve months ago back in december last year on suspicion of being a spy and since then according to her lawyer she's been living a cash guest nightmare and she's been living under scary strict bail conditions the home secretary after her arrest a year ago said that she shoul

we ask moody's we top economic adviser to both parties and gingrich rises to the most dangerous place in politics: the top of the republican field. we will ask our sunday panel if the former speaker can hold on where others have failed. and, as we approach thanksgiving, our power player of the week takes me dancing with turkeys. all right now. on fox news sunday. hello, again, from fox news in washington. after months of secret talks and public posturing we are now in the end game for the have committee. will they make a deal by wednesday to cut the deficit by $1.2 trillion over the next decade in a moment we will talk with a key democrat on the committee buts, first, the republican co-chair. welcome back to o news sunday. so, question, is this thing dead? >>guest: nobody wants to give up hope. reality is to some extent, starting to everfake hope. there were 12 good people who invest add lot in this trying to find common ground to achieve the goal of the committee, so, talks have taken place over the weekend and they will continue to take place but the reality is, we need to come to a

host: our guest is mark zandi, chief economist at moody's.you would like to join the conversation, here are the numbers to call. for democrats, 202-737-0001. for republicans, 202-737-0002. for independents, 202-628-0205. we heard a mixed message yesterday on the sunday talk shows about the implications of the committee failing. and what they might need for the economy. did you have a particular take away from what you heard from members of congress? guest: most immediately, there are a number of provisions in the tax code, spending that expires this year unless congress acts. i had hoped that the super committee process would have been a way for them to extend some of these. for example, the payroll tax holiday this year. emergency insurance benefits. these things inspired congress to act. the super committee has a window to do that. the committee has not got it done. a problem, moving into next year. it does create problems for us in 2012, in congress, if they decide that they do not want to go through the automatic spending cuts, it will ki

and european equity markets closed lower stock markets go up to moody's investor service delivered a pair of warnings related to france and germany banking stocks were under pressure lloyds banking group fell seven percent on the footsie dax converse bank all six percent among other bank shares of keep the sequel sank ten percent speculation the bank may cut its dividend. and russian equity markets closed with the red at the negative trend was mostly due to the drop in the oil price rise it's lost over four percent the biggest slide since october fourth let's have a look at some of the individual shareholders otherwise it's decline in the eyes it was led by russia's biggest coking coal producer metro that was down almost eight percent kill is also among the top losers falling around five and energy shares retreated lower crude prices look or last four percent below you count for much prettier wraps up today's trade. we have clearly seen a risk on. training session across different geographies and hasn't been a single reason behind it other than an accumulation of reasons from the pas

moody's has now cut hungary bond rating by one notch, it now stands in speculative grade.ody says it downgraded hungary to be 1 because of its high debt and doubt about its ability to meet targets. the currency there is trading at a record low. hungary requested more help from imf. so, things don't bode well for this country. and of course, andrew what it really means it's not just euro zone country that they're worried about, the fast-growing european countries having trouble paying their debt back >> absolutely. how did hungary get into this situation? many were thinking eastern europe were managing itself quite well? >> so, what exactly happened with hungary, it has been riding a high deficit for a long time. one of the country to get some financial assistance back in 2008 for the eu and the imf. what was interesting about the situation with hungary, up until just this week, we had seen a frosty relationship between the re-elected government and the imf. they wadidn't want to adhere to the austerity measurements. they introduced some interesting, but rather dubious meet

moody's [unintelligible] yesterday, fitts downgraded portugal. close eye ong a gold prices. we expect gold to rise next week. traders are getting more metal. on the gold is at 19%. >>> expect deep discounts for the ipad. will tell you when feared that live at bloomberg headquarters. >>> that will be interesting. 42 degrees. >> the latest on a deadly crash home depot. what caused a driver to slam into bystanders. >>> how split-second decision him into a hero. >>> first to have another check temperatures on the cool side. a look at these numbers. we're right around the freezing point in some spots. you had eased into quantico. registered 36 degrees. at42 degrees right now reagan national. sunshine. a gorgeous day. take advantage. it'll be mild. not last long in washington. well into the 60's today. 70 degrees from culpeper to fredericksburg. 60's.ly, in the mid- somehow i clouds. sunday we will see a cold front approach. even the chance of some showers in the day tomorrow into tomorrow night. lower 60's on sunday. highs are closer to 50. is your forecast. latest with traffic?

and moody's has hinted of a similar move to follow. we have not heard from moody's. means two of the three rating agencies have at the least revised their out look for u.s. debt to negative. and s&p could move to downgrade debt if this quagmire in washington over getting spending under control continues. >> in the meantime, burning our flag despite billions in aid? pakistanis take to the streets torching the flag and president obama after strikes kill 24 pakistani soldiers. and here is michele bachmann on the phone with us now. the congresswoman serves on the influential house intelligence committee. what do you make of this? >>guest: well, it is disgusting to see that because we have tried in every way we can to extend a hand to pakistan and this is the kind of thanks we get. but pakistan is a volatile, volatile neighborhood. the united states has given security assistance to pakistan and pakistan is a nuclear country. they have over 100 nuclear weapons. they also have terrorist militias and al qaeda and a thin veneer of a government, and they are fragile. and we ha

lowe's was lowered by moody's. one of the world's largest oil reserves was found in colorado. one of the world's largest in recent years. american eagle will pay a petroleum discovered a giant reservoir in colorado. one of the world's largest in recent years. american eagle will pay a record $900,000 fine for tarmac delays. they had 15 flights set for over three hours in one day alone, may 29th at chicago's o'hare airport. and finally, here's a tip, the oracle of omaha, warren buffett, who normally shies away from public talk, revealed he's bought more than 5% of ibm as well as millions of shares of intel and directv. >>> well, the nba battle intensifies. rookie awards in baseball. and red hot action on the ice. plus, the packers beat occupy a division rival. your early morning sports headlines are straight ahead. >>> rain is greeting many people from texas to the mid-atlantic. where is it heading next? your forecast is coming up. you're watching "early today." this is not a strike. >> a quick baseball note, craig kim balance won national league rookie of the year, jeremy hell

. >> moody's may downgrade the university's credit rating. >>> surveillance cameras, the fairfax countyool board will vote this afternoon on a proposal to allow principals to set up cameras in cafeterias and other parts of schools. supporters say it would make the schools safer. opponents say would violate students' privacy. >>> >> looking at ways to improve traffic around the walter reed military hospital in bethesda. one idea under consideration is a trail underneath rockville pike. that would connect walter reed and the national institutes of health with the medical center metro station. >> boxing legend joe frazier will be laid to rest today. larry holmes and mohammad ali are expected to be among the mourners. today's service is in philadelphia. the onetime heavyweight champions smokin' joe died last week after a battle with liver cancer. he was 67. >>> herman cain's why is speaking out about the sexual misconduct allegations made against him. this is the first time we are hearing from gloria cain. she said that her husband totally respects women and she does not believe the allegat

moody's placed the bond rating on review for downgrade.dy's says possible lawsuits, decreased enrollment and drop in support are all possible in light of the scandal. and it could lead to the downgrade. a decision is not expected for several months. >>> tonight a daly city man is meeting with an immigration officer as part of his fight to avoid deportation, and protestors are asking people to gather at san francisco international airport to support him. jb says he has been in this country for 16 years. he graduated from the university of san francisco. then received notice he was being deported to the philippines because his family's visa had run out. tonight at 6 p.m. he's meeting with the agent to discuss his pending case. supporters have being asked to wear green and to not carry any signs or banners. >>> occupy cal is moving ahead to establish yet another encampment at the plaza. members voted at their general assembly yesterday to establish the encampment this coming tuesday. the vote comes after occupy cal first tried to set up camp

pastor james moody said he was trying to (-open-paren when he was confronted and stopped by police. it was beaten more than dozen times. now pastor james posey of baltimore county said he was driving back to his home and stopped to counts one neighbor who had been involved in that fight with his wife but on the way officers saw them and invite him down to talk. as the two walked away please arrived responding to two calls, one for domestic incident and therefore potential assault. when police asked for his id and ask for his supervisor, he claimed that more police officers arrived on the scene and told him to put his hands out. he claims he was hit as many as 15 times what the police baton, saying he now has to walk with the cane, but the county says he was an operative keeping his hands in his pockets which resulted in the two-minute stroke or public struggle. >> it struck me as odd, it went from zero to 100 really quickly and i want to know why. >> we take these allegations very seriously. >> don't baltimore county police have opened an internal investigation into the matter. mean

i was looking at the charts and from moodies and former consultant with the john mccain campaign, and he has a chart and we would be happy to send it to you predicting what unemployment would have been without the stimulus and other federal action. i certainly do agree. >>neil: that is like proving to prove something that never was. >>guest: no, no, exactly, exactly not. i tell you what the greatest proof is, that a lot of those stimulus hypocrites who say it created no jobs, often the first ones to she up at the ribbon cutting, when that new police station is opened, or the new bridge or road project begins they are out of mind. >>neil: you could be right about that, but there is no way to prove something like this, right? we know we are down a net 2.5 million jobs sin the president took office. down a net 2.5 million. so, maybe it would have been worse, you can argue it could have been a lot worse, but, there is enjoy way to know. your party, when the president, then, george bush, said things would be a lot worse in iraq if we weren't in there when we were, the criticism was, and it