morgan chase. massive regulation reduction tax cuts making us a power house again. long way to go. jobs, jobs, jobs.

jp morgan chase plans to bring 3,000 jobs to new markets.veiled new benefits for employees, expanded paid sick leave. you see companies doing more than just putting that thousand bucks in somebody's pocket. you look at starbucks, a company that was pioneering this, looking at education as a way forward a couple of years ago now. >> it is, bravo across the board. this is so much more significant than a little bit of a bonus here. when you are reinvesting vocational training, education, that is the kind of long term solution we need. >> and president trump in davos talking a lot about apple, it's becoming clear that's what he's proudest of, apple making a commitment to spend $300 billion. >> we need those dollars put to work. thank you so much for joining us today. catch ali velshi and me together every day at 11:00 a.m. i'm on my own at 9:00 a.m. this guy will be on all weekend. >> i'll be back at 2:00 p.m., 2:00 p.m. tomorrow as well. should be good. have a great rest of your weekend. >> see you. there's a vacation at the end of every week w

morgan chase and the global cities initiative.the mayor mentioned, i am part of the corporate responsibility group at j.p. morgan chase and i lead, we call it, it's a city strategy. it is new and i've been at this job for about a year end half but when i think about it, it's not really new, it's based on a lot of great work that j.p. morgan chase has been doing both throughout foundation and throw business for a long time. i don't have to tell this group that cities are key drivers of economic growth. i think the senator mentioned it, where people are 60% of people live in cities, 80% live in urban areas. this is where challenges are often the most acute. whether it's income disparity, job growth, housing, public safety, all of these issues are touching down in cities and you are on the front line. i think we've all come to recognize that these require comprehensive and collaborative approach. government can't do it alone. you drive incredible change, but it requires partnership with private sector, the business community, nonprof

jp morgan chase announced a five-year comprehensive instment pla to support economic growth and american workers. that plan includes permanent raises for 22,000 employees, hundreds of new bank branches across the country, thousands of new jobs, expanded philanthropy and an increase in loans for affordable housing and small business development. and just this morning starbucks announced it is permanently raising pay and and one-time stock bonuses. this major investment will affect 150,000 employees. so, mr. president, the good news about tax reform and its benefits is rolling in almost faster than i can keep up with it. in retrospect the surprise here is not that the tax reform boasted the economy -- boo ted the economy -- boasted the economy, the real surprise is that there are those who didn't see it coming.

morgan chase want their workers to be able to find quality medical care at a reasonable cost. business leaders say the project is in early planning and have not released the name of the healthcare business but the new cooperative company will be independent as well as free of profit-making incentives. they have not said if there were plans to expand beyond amazon, j.p. morgan chase and brookshire hathaway but they are taking a bite out of healthcare stocks already with them sliding and amazon is on the rise, overall stocks on pace for the worst day since august and it would be the first today losing streak in one month. that dow jones down by almost 350 points with the s&p down 1%. >>> a new report says airbnb is driving up rental prices and housing availability in new york city. the report was commissioned by a union of hotel workers. airbnb listings have removed 7000 housing units from circulation in the past three years and have increased the median rent by $380 per year. the study did not provide area for impact in the bay area. airbnb says the methodology of the study is

just say, of course, we have talked to many people here, among them the chief executive ofjp morgan chaseking to my colleague simon jack. simon first of all started to talk to him about his plans for london in the light of brexit, with regard to how manyjobs may go atjp morgan chase in london. we love london, we love working there. we've got, as you point out, a lot of people there. there is huge efficiencies for us, its huge efficiencies for the eurozone too. but if they determine that you can't have reciprocal trade practices and reciprocal regulations it will be bad in thosejobs. how many? i don't know — it would be a lot. thousands? yeah. 4000? it would be more than 4000. so, this feels more like a bite than a bark. real tariffs on things like solar panels and washing machines. as donald trump started a trade workers might i totally agree. he has raised a lot of issues about trade. i am has raised a lot of issues about trade. iam pro—trade. some stuff about china is — intellectual property and lack of reciprocity. those of a legitimate issues. if they are, they should be fixed. that i

morgan chase have an estimated one million employees in the united states. for some more analysis of these plans here is a wall street correspondent yes quarter. the american healthcare system is probably the most expensive in the world some americans are roughly spending three and a half billion dollars per year on health that's roughly twenty percent of total g.d.p. and if you look at the history of health care in the united states the health care system is much more privatized here than it is in europe it started basically old software world war two there was a lack of workers and two of those workers companies started to offer pension plans but also called health care plans and right now we are in a similar situation because we almost have full employment and that could be an incentive for talents for good skilled workers to join those corporations. yes quarter reporting from the new york stock exchange there now today one of a kind cello making its debut at a concert in northern italy right christophe this very creative cello was a sculpted from ice on

morgan chase they're teaming up to offer their u.s. employees quality health care they say at a reasonable cost now the three c.e.o.'s at the new company will be independent and free from profit making incentives the initial focus on technology that provides simplified high quality and transparent care they say well shares in health care companies took a big hit in early trading on the new york stock exchange hinting at the threat that he entity poses to existing health care structures in the u.s. . when our financial correspondent yes court is a new york for us tracking that story up against what the future of the u.s. health care reform unclear is this a case of businesses seizing on an opportunity or is it a bit of a sense that something is lacking. well probably both but it's a very interesting story first of all the american health care system is probably the most expensive in the world some americans are roughly spending three and a half billion dollars per year on health stats roughly twenty percent of total g.d.p. and if you lo

morgan chase. jamie diamond. what a statement that guy made.oing to expand branches, 400 branches, which is an 8% expansion, hire 3,000 new people. increase small business lending by $4 million, 20%. everybody -- about 22,000 employees that works in branches and customer support will get pay raises between 9 and 25%. they'll commit $50 billion and hire 500 additional people for home lending to low income families. and then by the end of the month, they'll give low income, the moderate wage employees, $750 bonus, plus they'll take 60,000 low wage workers and give them an additional $750 on their deductible on their healthcare. my god, think about that. >> neil: they're huge numbers. bottom line is, money that these companies are getting from the tax cuts will even though they're free to share it with their shareholders, they're going way beyond that. i don't think the magnitude of that has been appreciated yet. >> there's no doubt among economists left and right that the corporate tax is paid for by the people that can't escape the tax. namely t

congressman ron desantis of the house judiciary committee joins me live plus maria sits down with jp morgan chase ceo jamie dimon to get the current state of the economy as we look ahead right here today on sunday morning futures. trish: the administration will resume accepting applications for daca renewals after a federal judge blocked the president's decision to end the program but the program still faces a rather uncertain future. congress is struggling to come up with a permanent solution for daca as they also try to juggle funding for border security and mr. trump's long-promised wall. president trump's venting his frustration on twitter just this morning saying "daca is probably dead because the democrats don't really want it. they just want to talk and take desperately needed money away from our military. " my next guest took part in immigration talks at the white house just last week joining me now is senator david purdue of georgia good to have you here senator. >> good morning trish. trish: is he right? do the democrats not really want daca? >> well the evidence is they've been trying

morgan chase a loss of two billion dollars was announced and time to cross over to young correspondent on wall street was much more on that big loss for citigroup yes what is a strategy to cope with that loss. well it is a general a mess of charge and as far as i know it is the biggest quarterly loss in city's history but banks like city but also like dodger bank j.p. morgan or goldman sachs heads to pay the charges sooner or later so now they're paying it rather sooner but in the long run all the big banks are quiet. that they will profit from the tax reform of the u.s. government of paying only twenty instead of thirty five percent in taxes so they're pretty certain that in the long run it will pay off and therefore wall street was rather calm and the stock of citi even saw a slight uptick thanks will be back to short you talk about bitcoin because bitcoin the cryptocurrency that steve i did the financial world has once again taken the faithful on a wild ride into state lost as much as twenty percent of its value dipping below the twelve thousand dollar mark a rumors that the south k

morgan chase announce they're going to be partnering on a health care plan.eg terrell joins us this is just a brief announcement pretty bare bones there. just getting into early details on this. meg, when you have bezos and buffet and dimon all putting their heads together and throwing their weight behind something like this, you do see stocks immediately take action. >> yeah. amazon has been a huge spectre in the insurance space it's really interesting looking through this release how they say they're creating this independent company that they say will be free from profit making incentives and constraints. really interesting if you parse through it look at the pharmacy benefits managers they handle a lot of the insurance benefits, the drug benefits on behalf of employers. so if you look at express scripts, cvs health and unitedhealth look over here, they're all down 4 to 5% this morning on this news if you look atthe insurers, there is some effect unitedhealth, aetna. the pharmacies, too, this wouldn't be quite as close a hit. walgreens is down, cvs health,

morgan chase teaming up to offer american stuff quality health care at a reasonable cost the three c.e.o.'s say the new company will be independent and free from profit making incentives the initial focus will be on technology that provides simplified high quality and transparent care shares in health care companies took a big hit in early trading on the new york stock exchange hinting at the threat that you entity poses to existing healthcare structures in the u.s. . and let's go over to the stock exchange we're going to go to standing by for us yes good to see there this is got to be a pretty or could set a pretty amazing president considering that it's usually governments that look after this sort of thing or to take care of this sort of thing the american system of course not being as solid as well as what we have here in europe. well it's a big announcement and the u.s. health care industry is one of the most expensive in the world americans roughly are spending about three point five trillion dollars so that's a three and twelve zeros per year on their health just in two thousand a

morgan chase and operation home front. she is now in the national guard and works for the v.a.e bad. this genius gives iphone battery a taste test and it literally blows up in his face. take a look. [explosion] jillian: i don't understand. store in china. he was reportedly trying to see if the battery was real by biting it. yeah, it's real. jillian: smart. finally, the ugly, a reporter gets tripped up on live tv. [speaking foreign language] jillian: the woman slipping and falling to the floor giving the forecast in switzerland. it's not clear at this point why or how she lost her balance. do we know if she is okay? rob: i assume she is. at least we know she is in switzerland which we learned today is the greatest country in the world. jillian: we did learn that today. thanks for watching. rob: see you later. >> the trump-hating fbi agent peter strzok makes stunning revelation about the russia investigation. strzok said there is no big there there. >> what this is all about is further evidence of corruption at the highest levels of the fbi. >> more u.s. companies giving back tha

morgan chase. i'm going to go over details. so you mentioned that $20 billion figure, which is certainly worth underlining. part of this is going to be to open branches in different locations. so maybe not just where affluent people live. j.p. morgan chase wants to make an effort to serve more people, expand mortgage lending and certainly boost pay for some of its employees. so this is essentially a five-year investment, neil. the ceo, jamie diamond, asking his team key questions saying due to the tax benefits, we can we do to accelerate growth, good for wages and skills and jobs. as part of the press conference, we had a gary cohn say and the president wants to show that america first but not alone and that america is open for business. so disney adding on there. announcing they'll be giving more than 125,000 employees a one-time bonus of $1,000. and the company is also going to be investing $50 million in a new education program. i think this is great. this goes to hourly employees. they can apply for this. disney says there'

cnbc is reporting gopro hired jp morgan chase to help you find a potential buyer. gopro's stock plummeted 30% on the news. yesterday the company said it's shutting down its drone division. >>> restaurant chain, red robin, says it's firing busboys in response to minimum wage increases. the company says it's eliminating the position at all of its restaurants because of increased labor costs. the cost -- the company estimates it will save $8 million. >>> apple issued a software update to fix a security problem aiming at protecting users from a microchip vulnerability known as spector. the latest update includes security improvements to apple's safari browser. apple is urging iphone and ipad users to update your software immediately. the experts say right now there is no evidence suggesting the security flaw has been exploited. >>> facebook is stopping its personal assistance service. the company says it's not working as well as they expected. it would swap out words for emojis among other features. many users said it would guess the emoji wrong. the program will stop

morgan chase where a loss of two billion dollars was announced. now back in the sixties and seventies the somali capital mogadishu is known as the white pole of the indian ocean among travelers but decades of civil war have destroyed the economy now the country's trying to tap into the booming global tourism industry and rebuild what could become a lucrative sector. this is not the picture that most people in the west have of somalia. conflicts and terrorism of the past decades have shaped the image of goodness african country. last october attacks by islamist militants killed hundreds of people in the capital mogadishu a few foreign tourists venture into the country the still torn by civil war a hostile almost. non somalis are modest numsa modest the muslim people must of been european forty that was the number of international customers he had in twenty seventeen the somali government wants to rebuild the tourism sector last year the country joined the un world tourism organization there are regular flights to mogadishu's international airport s

morgan chase and berkshire hathaway to create a new healthcare company. >> reporter: it is a very bigtory because many other countries have recently embarked on the same kind of course. amazons jeff bezos, waren buffett, and jamie dimon announced the formation of their own independent health insurance company free from profit-making constraints that will concentrate on technology solutions to provide simplified and high quality transparent healthcare at a reasonable cost. collectively, the three companies are worth more than three and half trillion dollars and employs more than 1 million people. j.p. morgan chase said that three of these companies have extraordinary resources and the goal is to create solutions that benefit our united states employees, their families, and potentially all americans.>> it is particularly exciting because not only of the are, but the sectors they represent.>> reporter: this man is president of his economic institute and has worked on healthcare issues for more than a decade.>> you don't just need these three to do this, but you need a i am from the peopl

morgan chase and berkshire hathaway to create a new healthcare company.s a deal that could rattle the insurance business.>> reporter: calling the current situation a hungry tapeworm on the economy, amazon's jeff basals and warren buffett announced the formation of their independent health insurance company. it is free from profit-making incentives that will concentrate on technology solutions to provide simplified, high quality and transparent healthcare at a reasonable cost. collectively the three companies worth more than $1.5 trillion employee more than 1 million people. j.p. morgan chase said the three companies have extraordinary resources and our goal is to create solutions that benefit our employees, their families and potentially all-americans. >> it is exciting. or mac michael weinberg of the bay area council, is president of the economic institute and has worked on healthcare issues for more than a decade.>> for any of this to work, you need by an from the people within the company's that will ultimately get better health outcomes and have a bet

berkshire hathaway, amazon and jp morgan chase want their workers to be able to find quality medical reasonable cost. the business leaders say the project is still in the early planning phase and they haven't released a name of the health care business just yet. they say their new cooperative company will be independent as well as free of profit making incentives. they're not saying if there are plans for the company to expand beyond amazon, jp morgan chase and berkshire hathaway but we're seeing an effect on health care companies. >>> some companies are releasing teasers for the super bowl ads. a 30-second spot costs more than $5 million for air time alone. more than 100 million viewers are expected to tune in this sunday. this year following a year of heated debate over immigration, nfl players taking a knee during the national anthem, and the metoo movement, many advertisers are playing it safer by showcasing famous faces and trying to stand out with silly humor and stunts. >> for the first time this week, both teams in the super bowl will get a full day of practice in minnesota.

in total, these moves are part of a $20 billion investment plan for which swrchlt p morgan chase directlyd jobs act as well as the president's historic efforts to rolling back job-killing regulations. also disney announced over 125,000 employees will receive $1,000 cash bonus. and the company is investing $50 million into a new employee education program. lastly, verizon announced today that all of their employees, other than the top management, will receive 50 shares of restricted stock. this amounts to about $2500 per employee. employees will share in the company success, verizon said in the release. we're only one year in and the president is just getting started. we're pleased to as you know the president will be traveling to the world economic forum later this week so i brought in a couple of special ghosts preview that trip. gary cohn who played a role in the effort and general h.r. mcmast her discuss the trip and answer questions according to that topic and i'll be up with more information and to take your questions. general? >> in general. thank you very much. good to see everyoe.

morgan chase announced this morning that because of the trump tax cut they will raise wages for 22,000 of their employees, create thousands of new jobs and increase small business by lending $4 billion. in total is are part of a $20 billion investment plan for which j.p. morgan chase directly credits the passage of the tax cuts and jobs act as well as the president's historic efforts for rolling back job killing regulations. also disney announced over 125,000 employees will receive a $1000 cash bonus in the cup and investing $50 million into a new employee education program. verizon announced today that all their employees other than top management will -- receive 50 shares of stock. about $2500 per employee. they will further share in the company's a -- success. the president is only just getting started. great pleased to see our american workers and families are already seeing the positive effects of his policies. the president will be traveling to the world economic forum litter this week so i brought in a couple special guests to preview that trip. gerry called, who played a major

morgan chase tax credit.25,000 employees will receive a $1,000 cash bonus and the company is investing $50 million into a new employee education program. lastly, verizon announced today that all of their employees, other than the top management, will receive 50 shares of restricted stock. this amounts to about $2,500 per employee. employees will share in the company's success verizon said in a release. we're one year in and the president is just getting started. we're pleased to see our great american workers and families are already feeling the positive effects of the president's policies. as you know, the president will be travelling to the world economic forum later this week, so i brought in a couple of special guests to preview that trip. nec director gary cohn that played a major role in the tax cut and h.r. mc mastmaster will discuss the trip and answer the questions and then i'll take your questions. general? >> i'm with the general. >> in general. >> thanks very much. >> good to see everyone. thank y

morgan chase and company and wells fargo and company posted fourth-quarter earnings that were roiled by the lease and -- recent tax overhaul but post -- both forecast they will -- a $2.4 billion charge related to the tax law caused profits to fall 30% from a year earlier to $4.23 billion. even so, chief executive james dimon said the tax law enacted late last year was "a big, significant positive and much of it will fall to our bottom line in 2018 and beyond." other big banks including citigroup and goldman sachs has said the tax law will result in billions of dollars in one-time charges when they report fourth-quarter results next week. they have said those will give way to substantial long-term gains. we have gerald calling in from crowley, the louisiana on our democrat line. caller: good morning. i just do not understand. when barack obama was president, they crucified him for everything he did. when he weighed in on professors in boston and made him apologize to this white police officer, made him sit down with a beer things about these everybody and everybody is just giving him

morgan chase and berkshire hathaway offered few specifics how they will do it. all three and their ceos have reputations for driving innovation and change. here's tom costello. >> reporter: across the country, we've met the people struggling with skyrocketing health care costs. the sullivan family with an autistic son and so many more. now three mega companies and their influential ceos say they're forming a partnership to drive down health care costs for their combined 1 million employees. billionaire warren buffett saying the ballooning costs of health care act as a hungry tape worm on the american economy. >> health care in america is a a big mess and it comes with a big cost. >> health care makes up a staggering part of the american economy. it cost each american roughly $10,000 a year, more than any country in the year. the new partnership says it will be free from profit-making incentives and use technology solutions to provide high-quality health care at a reasonable cost. how? by using their combined buying power or by cutting out middle men like pharmac

financial services sector kicks off the quowrt quarter earnings period and that kicks off with jp morgan chasewell fargo reporting their fourth quarter earnings. that happened at the end of the week. coming up next week "wall street week" joining me, jamey diamond, my special guest. i'll be interviewing him at the jp morgan health care conference. see you sunday morning, 10:0:00 a.m. eastern, live, catch me on fax news sunday. that will do it for us now on "wall street week." thanks for being with me. i'll see you >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how

they're awaiting a flood of earnings reports starting today with jp morgan chase and wells fargo. back to you. >>> 5:26. legacy left behind. the tributes planned for a fallen philadelphia firefighter. >>> and search for a killer. the new leads in the hunt for whoever murdered a local college student. your daughter wants to stay organic. your husband wants to stay free from artificial ingredients. you want to stay free from artificial preservatives. and your debit card wants to stay on a diet. fill your cart with small victories like giant's nature's promise brand. great prices on over 1,300 items. eat well for less. only at my giant. >>> hero's good-bye. the tribute to honor the legacy of a fallen philadelphia firefighter. >>> weather whiplash. a barrage of rain, wind, and possible flooding set to slam our area. we've got your first alert forecast. >>> and birds on the brain. counting down to the big saturday showdown. taking you ie man cave dedicated to all things eagles. the whole place. we'll show you. >>> look at this green. talk about green -- storm moving in. you see the hea

they are teaming up to create a new health care company, amazon, jp morgan chase and warren buffet's berkshire hathaway say they are entering the health care sector to bolt sky rocketing cost. industry heavyweights say it will be free from profit making incentives and constraints. benefits expert say the new company could be a system that bypasses insurance companies. >>> facebook is banning ads for all crypt toe currencies including bit coin new policy is in an effort to block financial products and services frequently associated with misleading or deceptive promotional practices. facebook says it has pulled ad s including phrases like user retirement fund to buy bit coin. >>> american love to work so much so that 662 million vacation days, go unused, every single year. put another way more than half of us fail to use all of our time off including project time off sponsored by u.s. travel association. by forfeiting those days employees are forking over $66.4 billion in benefits, the main reason lack of planning, jim and rahel. >> okay, i'm plan, i'm not leaving one day on the table.

amazon berkshire hathaway and j.p morgan chase are forming an independent health care company for itsloyees. the ceos from the company said the current health care system is confusing and something has to be done. it's not clear how they plan to make the health care more affordable. but the announcement had an impact. the news caused stock prices in existing health care insurers to fall. >>> the 2018 olympic games beginning in nine days. and team usa heading to south korea. one bay area athlete going to the first games but not first for her family. a graduate of the gun high school. they maid the. her mother had won bronze and her uncle won five medals in speed skating. reed got into bi agent lone when she was given her uncle's rifle. she spoke with garvin thomas from germany. she said the connection to family is going to make the games so special for her. >> yes it was a secret hope of mine to make this team before he passed away. so made it. >> oh, reed's olympian mother also gave her some advice, drink water. for more stories on the bay area athletes be sure to tune in the olympic

. >> good morning, rahel and jim , three corporate heavyweights, amazon, jp morgan chase and berkshirehaway say they are entering health care sector to battle sky rocketing costs. companies says new entity will be free from profit making, and constraints, benefits expert say it could be a system that bypasses insurance companies and is certainly rattled the health care sector yesterday. jim and rahel. >> that should be interesting. >> valentines day right around the corner, i understand crispy cream has something up its sleeve. >> that is right, hot light is on they are rolling out oreos cookie is and cream doughnut inside stuffed with creamy oreo filling and cookie crumbles. it is available through valentines day, jim and rahel. now i want crispy cream you need them warm. i have seen them get into car accidents trying to get accredits lanes to get to a crispy cream. >> it is crew, there was a gym i used to go to and almost across the street from the gym was a crispy cream. so would you see people, when hot light was on make a beeline, rahel, stop judging. >> my goodness. >> planet fit

dagen: you're going to have potentially and this is from jamie dimon head of jp morgan chase. neil: big democrat. dagen: big old democrat 4% growth potentially in the coming year. we haven't seen 4% growth in the united states since the year 2000 in any one year. we haven't seen 3% growth in the united states since 2005 and this goes to why we had such a stagnation during the obama years. it was the lack of capital spending. it was lack of business investment and in the last quarter, we got the gdp out yesterday morning. business non-residential investment was up 6.8%. that is a dramatic number. that is a big increase and that is what is making the difference here is we have a much more friendly playing field for businesses far and wide. big businesses and small businesses crushed by regulations particularly those in obamacare. neil: well a lot of this was hurt by the regulatory effort first before the tax cuts even came to fruition. danielle it's always risky and early in this case that start handicapping the midterm elections in november but you could see if this sticks and

jeff bezos of amazon, warren buffett of berkshire hathaway and jp morgan chase want their employees tod quality health care at affordable costs. it will create a new company free of profit making incentives. they will focus on technology solution that's simplify the health care system. when the opening bell rang this morning, the health care stocks, including aetna, cigna and united health dropped on that news. analysts speculate that the collaboration will mean these companies will be forced to provide better services and reduce costs. >>> now, that is contributing to some of the sell-off this morning. there is also most likely profit taking. we have seen some record days for the entire year so far. they're is a look at stocks. down 266 points. down a full percentage point. the nasdaq and the s&p 500 coming back a little bit from their earlier losses. but the nasdaq still losing half of a percent. the s&p 500 down a bit to 2832. >>> exxonmobil is planning to give the economy a boost by investing more than $50 billion in u.s. businesses. the oil company says it will expand its business

three high-profile companies, amazon, berkshire hathaway, and jp morgan chase said today they were joiningorces to provide health care to their employees. cbs news business analyst jill schlesinger is following this. jill, first of all, why are they doing this? >> well, with health care taking up an increasing portion of company benefits, businesses have a vested interest in keeping cost downs and keeping their employees healthy. health care spending now accounts for nearly 18% of the overall economy. that's up from about 7% 46 years ago. out-of-pocket costs have nearly doubled during that time. anhealth insurance premium increases have far outpaced wage growth. the three companies will try to contain rising health care costs. in essence, they will try to kill off what berkshire hathaway's c.e.o. warren buffet called "the hungry tapeworm on the american economy." >> glor, of course, the big question, jill, is how exactly do you do this? >> well, there are scant details, but they point to leveraging technology and the power of their 1 million employees to provide simplified health care at a

morgan chase are teaming up to offer u.s.loyees quality health care, they say, at a reasonable cost. the three ceo's said the new company would be independent and free from profit-making incentives. the initial focus being on technology that provides simplified, high-quality, and transparent care, they said. shares in health care companies took a big hit on the new york stock exchange, hinting that the threat the new entity poses to existing health care structures in the u.s. our financial correspondent jens korte is in new york for us tracking that story. jens, with the future of the u.s. health-care reform unclear, is this a case of businesses seizing on an opportunity, or is it that they sense that something is lacking? jens: well, probably both, but it is a very interesting story. first of all, the american health care system is probably the most expensive in the world. americans are spending roughly $3.5 billion per year on health, roughly 20% of total gdp. if you look at the history of health care in the united states,

morgan chase has the most assets of any u.s. bank but the new company also faces a steep learning curve as they venture into the health care arena amazon c.e.o. jeff bezos acknowledged the challenge in his statement on the initiative saying the health care system is complex and we enter into this challenge open i had about the degree of difficulty shares of some health care insurance stocks fell on the news. twenty seven european union minister voted on monday to approve conditions for further brecht's the talks that state britain will not have a role. in the e.u. decision making once it leaves the union or during the transition period planned to begin in march of twenty nineteen the e.u. ministers also said that britain will be subject to e.u. laws including any new laws during the transition and for two years after that u.k. bret's secretary david davis play down the announcement and claim that britain will have the right to negotiate pacts with third parties during the transition but the use lead negotiator michel bar and yet

morgan chase teaming up to offer american stuff quality health care at a reasonable cost the three c.e.o. who say the new company will be independent and free from profit making incentives initial focus will be on technology that provides simplified high quality and transparent. shares in health care companies took a big hit in early trading on the new york stock exchange ending at the threat the new entity poses to existing healthcare structures in the u.s. . and let's go over to the stock exchange where you are standing by for us yes good to see there this is got to be a pretty or could set a pretty amazing president considering that it's usually governments that look after this sort of thing or are meant to take care of this sort of thing the american system of course not being as solid as what we have here in europe. well it's a big announcement and the u.s. health care industry is one of the most expensive in the world americans roughly are spending about three point five trillion dollars that's a three and twelve zeros per a year on their health just twenty sixty and we saw another

morgan chase are teaming up to offer their u.s. employees quality health care they say at a reasonable cost will be three c.e.o.'s said the new company will be independent and free from profit making incentives the initial focus would be on technology to provide simplified high quality and transparent kabal shares in health care companies took a big hit in early trading on the new york stock exchange hinting at the threat that the new entity poses to existing health care structures in the u.s. when our financial correspondent yen school it is in new york for us he has been tracking that story yes with the future of the u.s. health care reform unclear that is this a case of seizing a business opportunity old stepping into a gap and providing a service because they find something lacking. well i mean certainly the u.s. health care system is extremely expensive americans spend about three point five trillion dollars each year on their health stats roughly twenty percent of total g.d.p. but they're also might be incentive to join those

jp morgan chase, wells fargo and pnc financial services will be revealing how they performed from october law will impact these banks. investment manager blackrock will also report earnings and there is an important economic data to be released as well. numbers for the consumer price index, a key measure of inflation will be out and they are expected to show a sluggish price rise continues to bea show a sluggish price rise continues to be a feature of american growth stories right now, one economists, policymakers and even the people at the federal reserve cannot explain but they do expect it to change soon. joining us is lawrence gosling, editor—in—chief, what investment. we are going to look at this facebook story, mark zuckerberg made it his new year ‘s resolution to go back to the roots of what he envisaged it as. he said he's going to stop pushing, that's not the words he used, but business, i don't know if it's going to be adverts or just posts, that will be interesting, but business will have something to say about that because they pay a huge amount of money. this is it, facebook