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Jun 30, 2015
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as a nation greece has some of the highest unemployment in europe making it hard to rebound. t than it can pay even after it's been cutting pensions and benefits to the bone. as a nation greece has lost the essential ingredient of trust. those are bank deposits plummeting because people don't believe money that goes into greek banks will necessarily come back out. this week the government limited people to withdrawing no more than 70 bucks at atms which confirms those fears. and finally as the defaulting country whose left holding the bag? mostly european nations and international groups like the imf. that is the biggest part of the chart holding the debts. not the united states. joining us now in this developing story from athens is sophia papiano. and from washington neil irwin. sophia, what is the scene there right now? >> well of course we are a few minutes before officially out of the bail out program. and in an hour from now we are officially defaulting because we are not going to pay the loan to the imf. so the feeling here is a feeling of uncertainty is a feeling of pe
as a nation greece has some of the highest unemployment in europe making it hard to rebound. t than it can pay even after it's been cutting pensions and benefits to the bone. as a nation greece has lost the essential ingredient of trust. those are bank deposits plummeting because people don't believe money that goes into greek banks will necessarily come back out. this week the government limited people to withdrawing no more than 70 bucks at atms which confirms those fears. and finally as the...
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Jun 12, 2015
06/15
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the national greece bank is down. the breadth and depth of the decline is currently evident in this chart right here. all of the industry groups on the stocks 600 -- on the stoxx down. isnwhile, the german public turning against supporting a greece. the advisors report already discussing how to deal with a greek default. this all amounts to a recipe for absurdity in european asset markets. there is the stoxx 600. it is on stage and was on track for its third consecutive weekly to sign. this is the longest track down since october. it is all about greece. back to you. pimm: thank you so much, that orton and london -- in london. we are still waiting for the house to vote on the trade deal and president obama has put all of his credibility online for the vote. and the ceo of the wholesale start up box is providing fee tuition to children of his employees. how is he going to pay for it? we will explain, coming up. now it is a mystery violence -- virus that has south korea on edge. peopleinfected 126,000 in south korea and
the national greece bank is down. the breadth and depth of the decline is currently evident in this chart right here. all of the industry groups on the stocks 600 -- on the stoxx down. isnwhile, the german public turning against supporting a greece. the advisors report already discussing how to deal with a greek default. this all amounts to a recipe for absurdity in european asset markets. there is the stoxx 600. it is on stage and was on track for its third consecutive weekly to sign. this is...
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Jun 15, 2015
06/15
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bring out some comments by bill gross on twitter about greece and also referenced developing nations. "greece is the canary in the coal mine for a developed economies." could you comment on his notion that there is something more at work, that this is an issue not just for greek but other developed economies as well? eric: you have fundamentally a country which has underperformed in terms of policy for a long time. remember when it started with the greeks remembering -- admitting having lied about the deficit. it was in the eurozone not your normal sort of restructuring and default, and then having a government now that just does not want to do any of the reforms other countries do. the exchangeut rate per se. it is not about anything else than a country that is spending taxpayerso the other and the imf members or european members are lending them taxpayer money until they can get their house in order. they are saying, please give us a plan so you can get in order sometime in the future if we are going to use our taxpayer's money. i strongly believe it has nothing to do with the other eurozon
bring out some comments by bill gross on twitter about greece and also referenced developing nations. "greece is the canary in the coal mine for a developed economies." could you comment on his notion that there is something more at work, that this is an issue not just for greek but other developed economies as well? eric: you have fundamentally a country which has underperformed in terms of policy for a long time. remember when it started with the greeks remembering -- admitting...
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Jun 30, 2015
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national bank of greece down 45% this year.ritime holdings and what is happening in greece can also delay the federal reserve plans to raise short-term interest rates. fed officials earlier this month expect to increase this year, keeping them near zero for almost seven years. it could be as early as september. the recent turmoil we have seen in greece, china, puerto rico could delay the move if it ends up back in the economy off track. the dow is down 350. the ten-year bond with a big draw. we are connected certainly will watch and see if the dollar surges on whether or not they make these moves in september. now looking 35% likely versus 45% lead before the hike. sandra: the white house has no plans to offer a federal bailout to puerto rico. the governor of the u.s. territory once the island nation cannot pay $72 billion in debt. puerto rico asking washington to allow it to go through chapter nine bankruptcy like detroit date. the governor says sacrifice must be shared by bondholders. features a governor crist christy expecte
national bank of greece down 45% this year.ritime holdings and what is happening in greece can also delay the federal reserve plans to raise short-term interest rates. fed officials earlier this month expect to increase this year, keeping them near zero for almost seven years. it could be as early as september. the recent turmoil we have seen in greece, china, puerto rico could delay the move if it ends up back in the economy off track. the dow is down 350. the ten-year bond with a big draw. we...
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Jun 15, 2015
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pimm: i want to bring up some comments from bill gross about greece and referencing develop nations -- greece is the canary in the coal mine for developing economies. i wonder if you can comment on the notion that there is something more at work, that this is an issue not only for greece but other developed economies as well. ton of respect for bill gross but i don't think macroeconomics is his area. you have fundamentally a country here which has underperformed in terms of policy adjustment for a long time. it started with the greeks having lied about the data. , because in the eurozone, it was not your normal restructuring and default. then having a government that was -- that doesn't want to do the reforms the other countries do. it is not about the exchange rate per se, it's not about anything else in a country spending too much money, so the other taxpayers, imf members or european numbers until they can get their house in order, they need to give us a plan until they can get in order if we are going to use our taxpayers money. isolated case and i strongly believe it has nothing to do wi
pimm: i want to bring up some comments from bill gross about greece and referencing develop nations -- greece is the canary in the coal mine for developing economies. i wonder if you can comment on the notion that there is something more at work, that this is an issue not only for greece but other developed economies as well. ton of respect for bill gross but i don't think macroeconomics is his area. you have fundamentally a country here which has underperformed in terms of policy adjustment...
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Jun 29, 2015
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ó ng tense in greece. national bankruptcy could be hours away.athens will not be able to pay the international area -- international monetary fund. alexis is urging greeks to reject the terms of the international aid deal in a referendum to be held next sunday. just moments ago, he said that the vote to reject the deal, the greater the negotiating position will be. egypt's achieve prosecutor is killed in a suicide bombing. the man brought thousands of islamists to trial including former president mohamed morsi. and this year's third grand slam tournament has gotten underway at wimbledon. fans will head to southwest london to see reigning champion novak djokovic. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] i'm sarah harman, welcome to the show. an increasingly defiant greek prime minister staunchly defends the move to put the decision on a bailout in the hands of the people. alexis tsipras commented that they will likely not throw grease out of the eurozon
ó ng tense in greece. national bankruptcy could be hours away.athens will not be able to pay the international area -- international monetary fund. alexis is urging greeks to reject the terms of the international aid deal in a referendum to be held next sunday. just moments ago, he said that the vote to reject the deal, the greater the negotiating position will be. egypt's achieve prosecutor is killed in a suicide bombing. the man brought thousands of islamists to trial including former...
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Jun 29, 2015
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charles reese in a fox business exclusive. >>> the turmoil in greece has multi-national corporations businesses bracing for the worst. one of the biggest chemical companies in the world, dow, has operations in greece, two of them. its ceo happened to be at the white house for today's signing of two foundational trade bills. we will get to trade in just a minute, but what about the greece issue? dow chemical ceo andrew liveris joining us now live. and i think it's important to point out you yourself have a greek background. you're greek, and while you were raised in australia, that has got to be very upsetting for you, andrew. >> hi, liz. yes, i'm a first generation greek-australian, and you've been reporting on it quite accurately, the knock-on effect to the rest of europe is what all of us should be worried about. we should be very much hoping that the greek people, if it comes to the referendum, will get the right answer which is that greece needs to be part of the euro and that level heads and logical heads should prevail. but, you know, there's no guarantee, and we're all obviousl
charles reese in a fox business exclusive. >>> the turmoil in greece has multi-national corporations businesses bracing for the worst. one of the biggest chemical companies in the world, dow, has operations in greece, two of them. its ceo happened to be at the white house for today's signing of two foundational trade bills. we will get to trade in just a minute, but what about the greece issue? dow chemical ceo andrew liveris joining us now live. and i think it's important to point out...
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Jun 6, 2015
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to let grace -- greece have its own national currency. greece needs to have a currency.he euro is strong. it went down a little in the past six months, but it is still a strong currency. it cannot be to value weighted -- devaluated. their own currency in greece will help them to become stable again. the bank of greece can issue a new currency. if everything goes well, they will come again. charlie: what about david cameron who was just elected? valery: brilliant. not a surprise for me. two days before the election, i thought he would be reelected. charlie: he is having conversations with the european union because he wants to reform. valery: he's right. first, it is the common interests. it is good for great britain. many of them could be satisfied. it supposes a serious negotiation which hasn't started yet but it will. france would support some of the british demands. angela merkel has said she understands some of the british demands. there will be a change in the open union in the direction of the british. charlie: you recently met with putin. he was supporting some in
to let grace -- greece have its own national currency. greece needs to have a currency.he euro is strong. it went down a little in the past six months, but it is still a strong currency. it cannot be to value weighted -- devaluated. their own currency in greece will help them to become stable again. the bank of greece can issue a new currency. if everything goes well, they will come again. charlie: what about david cameron who was just elected? valery: brilliant. not a surprise for me. two days...
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Jun 29, 2015
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i want to remind you, that banks increased belonged to the nation -- in greece belonged to the nation the savings. it is only the new liberal direction of the european union that don't let us take them. you understand, there are ways. why not? fight. go to the offered, some important sectors of energy, and some important sector of industry. this is for sure. for theigger problem construction of their european union, then for the greeks. the risk country, and has now, 480 billion gdp. we have a floor to stand and we remain outside of the european union. take a look at markets trading in the asia-pacific. let's go to japan. down about 2.25%. industrial production numbers falling 2.2%. it was amiss in terms of estimates. -- economists were expecting 0.8%. on china's campaign against corruption, has ensnared the country's leading state-run companies. cosco, haveorp, been accused of false reports and other violation. let's bring in and kruger. firmser: 14 state-owned have been charged with falsifying revenues to the tune of $8 billion. this is according to china's national auditor, did eve
i want to remind you, that banks increased belonged to the nation -- in greece belonged to the nation the savings. it is only the new liberal direction of the european union that don't let us take them. you understand, there are ways. why not? fight. go to the offered, some important sectors of energy, and some important sector of industry. this is for sure. for theigger problem construction of their european union, then for the greeks. the risk country, and has now, 480 billion gdp. we have a...
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Jun 23, 2015
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if i drill into the benchmark, the biggest gainers the bank leading, national bank of greece is one ofiggest gainers. gaining 9%, 6% respectively. national bank of greece is leading the gains on europe's. we had a news that the ecb is said to have raised the cap again on emergency for greek banks for the fourth time in less than a week and reassessing on almost a daily basis. finally, a check of the bond market. borrowing costs calming down in greece. 26 basis points at the moment down on that 10 year bond. not as much as yesterday when you saw the borrowing costs down 100 basis point. we are seeing greek bonds arrived. mark: thank you. the total value of all deals this year on track to pass through trillion dollars for the first time since 20 -- $3 trillion for the first time since 2007. what are some of the big deals? guest: good morning. we have seen some of the biggest so far this year with shares in bg energy. a few years with no deals and energy. it is a big splash and then pharmaceuticals with tnt. mark: what is behind this the splurge in m&a? manuel baigorri: it seems to be the
if i drill into the benchmark, the biggest gainers the bank leading, national bank of greece is one ofiggest gainers. gaining 9%, 6% respectively. national bank of greece is leading the gains on europe's. we had a news that the ecb is said to have raised the cap again on emergency for greek banks for the fourth time in less than a week and reassessing on almost a daily basis. finally, a check of the bond market. borrowing costs calming down in greece. 26 basis points at the moment down on that...
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Jun 7, 2015
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to let greece have its own national currency. greece needs to have a currency.hat could be devalue weighted. -- todevaluated. the euro is strong. it went down a little in the past six months, but it is still a strong currency. it cannot be devaluated. they need one which can be devaluated which will help them become competitive. the solution would be to say the bank of greece can issue a new currency. if everything goes well, they will come again. charlie: what about david cameron who was just elected? in a very strong way? valery: brilliant. not a surprise for me. charlie: you thought he would be doing that well? valery: two days before the election, i thought he would be reelected. charlie: he is having conversations with the european union because he wants to reform. valery: he's right. first, it is the mutual interests. it is good for great britain. the british have demands. some of them are demands they always made. the system of the constitution. many of them could be satisfied. it supposes a serious negotiation which hasn't started yet but it will. france
to let greece have its own national currency. greece needs to have a currency.hat could be devalue weighted. -- todevaluated. the euro is strong. it went down a little in the past six months, but it is still a strong currency. it cannot be devaluated. they need one which can be devaluated which will help them become competitive. the solution would be to say the bank of greece can issue a new currency. if everything goes well, they will come again. charlie: what about david cameron who was just...
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Jun 30, 2015
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things are growing tense in greece. national bankruptcy could be hours away. athens will not be able to pay the international area -- international monetary fund. alexis is urging greeks to reject the terms of the international aid deal in a referendum to be held next sunday. just moments ago, he said that the vote to reject the deal, the greater the negotiating position will be. egypt's achieve prosecutor is killed in a suicide bombing. the man brought thousands of islamists to trial including former president mohamed morsi. and this year's third grand slam tournament has gotten underway at wimbledon. fans will head to southwest london to see reigning champion novak djokovic. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] i'm sarah harman, welcome to the show. an increasingly defiant greek prime minister staunchly defends the move to put the decision on a bailout in the hands of the people. alexis tsipras commented that they will likely not throw grease out of the eurozo
things are growing tense in greece. national bankruptcy could be hours away. athens will not be able to pay the international area -- international monetary fund. alexis is urging greeks to reject the terms of the international aid deal in a referendum to be held next sunday. just moments ago, he said that the vote to reject the deal, the greater the negotiating position will be. egypt's achieve prosecutor is killed in a suicide bombing. the man brought thousands of islamists to trial including...
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Jun 2, 2015
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take a look at the greece national bank and all the money that they oh, we are looking at 99 billion euros. that is not the chart their. -- there. that chart is how much we have seen -- this is the chart. those --ow much grease owes creditors. a majority goes to germany. they could make that argument, if you do not bail out greece, you do not get paid back germany. >> obviously, that is a big concern, if greece default people lose money. but their armor cards -- more cards to play. if you default on a bank, then you start to get a contagion effect. germany does not want to lose the money it has lent, but it could take the hit. ultimately, this will be a political decision. it won't be about the money, it will be about merkel and other leaders saying, do we want to take a move that would peel back the project that they have been working on so long? i would guess the answer is no. but ultimately, it is about politics. alix: and now this other chart. this is 2012. this is all over and mainstream media, 350 mentioned in may alone. , a chiefined by carl u.s. economist. and michael. your t
take a look at the greece national bank and all the money that they oh, we are looking at 99 billion euros. that is not the chart their. -- there. that chart is how much we have seen -- this is the chart. those --ow much grease owes creditors. a majority goes to germany. they could make that argument, if you do not bail out greece, you do not get paid back germany. >> obviously, that is a big concern, if greece default people lose money. but their armor cards -- more cards to play. if you...
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greece has arrived. this time the d standing for default. they cannot pay back the 1.6 billion euros it owes to the national monetary fund. greece could get its nest -- next slice of bailout money but only if it agrees to an eu deal on the table. the greek government said it would give people the choice in a referendum to be held sunday. thousands turned out last night in athens to back their government, saying they would vote no. just in the last few minutes we have been hearing that contact is reportedly underway between athens and brussels to try to reach some sort of agreement. let's bring in natalie's every guess. what can you tell us about this 11th hour deal? natalie: the developments -- some reports suggest that the prime minister's have traveled to brussels to meet with john jean-claude juncker. that the institutions would pay off the imf's 1.6 billion euro loan to stave off a bankruptcy, and that would allow the government, the greek government and the troika to negotiate to avoid the referendum. and avoid the long and protracted state of in and out default. genie: let's talk more about the situation on the groun
greece has arrived. this time the d standing for default. they cannot pay back the 1.6 billion euros it owes to the national monetary fund. greece could get its nest -- next slice of bailout money but only if it agrees to an eu deal on the table. the greek government said it would give people the choice in a referendum to be held sunday. thousands turned out last night in athens to back their government, saying they would vote no. just in the last few minutes we have been hearing that contact...
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Jun 30, 2015
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the nation of greece plunging deeper into financial crisis after missing today's deadline to make a nearly $2 billion payment while asking for yet another bailout from its european creditors. here in the u.s. today stocks managed to climb back into positive territory after fears over greece yesterday led to the market's worst day of the year. >>> and now millions of american citizens are facing an economic meltdown of their own. puerto rico a u.s. territory and popular getaway destination, is trying to avoid a default on its staggering debt. it would be the largest u.s. municipal bond failure in history. nbc's gabe gutierrez reports tonight from san juan. >> reporter: for juan carlos cabrera the desperation is piling up like the moving boxes inside his home. >> it's been really hard. really hard. i'm trying to make ends meet. >> reporter: the puerto rican economy so dire he lost his business. >> you work for a lifetime to build what you have and all you have a sudden you have to start all over again. >> reporter: now his family's uprooting to florida, joining a growing exodus to the u.s. m
the nation of greece plunging deeper into financial crisis after missing today's deadline to make a nearly $2 billion payment while asking for yet another bailout from its european creditors. here in the u.s. today stocks managed to climb back into positive territory after fears over greece yesterday led to the market's worst day of the year. >>> and now millions of american citizens are facing an economic meltdown of their own. puerto rico a u.s. territory and popular getaway...
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i doubt that it's going to lead to a complete withdrawal of greece from the western community of nations. >> reporter: but greece now has the spotlight and the world nervously watches its every move. >> and we expect more news from greece in the days to come. there is another looming deadline on saturday. greek citizens will decide whether or not to accept conditions for another bailout. we'll keep you posted. >>> he is in custody and talking. david sweat is revealing new details about his daring prison break. sweat is now in stable condition after an officer shot him yesterday in northern new york near the canadian border. he told investigators he and fellow escapee, richard matt originally planned to go to mexico. but when prison worker joyce mitchell, did not show up to give them a ride they headed toward canada. sweat also says he ditched matt five days ago because the older inmate was slowing him down. >>> coming up on "nbc nightly news," a look inside oneffiç hideouts used by one of the escapees and you'll hear from the four teens who spoke to david sweat as he tried to reach the c
i doubt that it's going to lead to a complete withdrawal of greece from the western community of nations. >> reporter: but greece now has the spotlight and the world nervously watches its every move. >> and we expect more news from greece in the days to come. there is another looming deadline on saturday. greek citizens will decide whether or not to accept conditions for another bailout. we'll keep you posted. >>> he is in custody and talking. david sweat is revealing new...
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Jun 26, 2015
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greece. the national bank of greece, efg , and alpha bank -- the point is monday if there is no deal, you couldee capital controls. if there is a deal, it could be that banks were you see the best rewards. pimm, the usa, are biggest single shareholder in the greek stock exchange. i grant you, it is the size of a medium-sized company, but no doubt about it. money every day this year has gone into the etf that follows the greek banks. a friend of bloomberg, a commentator, -- they had a downgrade today. from sanford bernstein, underperform. potash,these guys make fertilizer, makes everything grow. could they or will they accept an offer from potentially the potash corporation in canada? i'm sure did not do that enough justice. potash -- who would have thought it could bring a stock up 40%? the fx voice just are not as optimistic on the day, or are they? will it be tv that takes the euro lower -- qe that takes the euro lower? pimm. pimm: well done, manus cranny, joining us from london. let's continue with today's top story. the supreme court. for wall street reaction, i'm joined by the founder and
greece. the national bank of greece, efg , and alpha bank -- the point is monday if there is no deal, you couldee capital controls. if there is a deal, it could be that banks were you see the best rewards. pimm, the usa, are biggest single shareholder in the greek stock exchange. i grant you, it is the size of a medium-sized company, but no doubt about it. money every day this year has gone into the etf that follows the greek banks. a friend of bloomberg, a commentator, -- they had a downgrade...
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Jun 11, 2015
06/15
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the national bank of greece and alphabetic surging 10%. -- and out the bank surging 10%. the next euro meeting, next week. genie: the u.k. is cracking down on more illegal activity. kate: the age of irresponsibility is over. the message from the head of the bank of england as he announced tougher punishments on illegal practices in the financial markets. reporter: among -- longer prison sentences and more accountability a promise from mark carney. in his speech to the city, the governor vowed to crack down on abusive financial practices. >> for the people in this room, this is not new. this is how you run your business. for others, for those who free ride on your reputation, the age of irresponsibility is over. reporter: public trust in banks has taken a hit after a series of international scandals in the financial world. a number of banks have been fined or are still under investigation in the libor scandal where banks attempted to rake the world possible benchmark borrowing rate. among kearny's proposals expending to 10 years in prison and applying criminal penalties. o
the national bank of greece and alphabetic surging 10%. -- and out the bank surging 10%. the next euro meeting, next week. genie: the u.k. is cracking down on more illegal activity. kate: the age of irresponsibility is over. the message from the head of the bank of england as he announced tougher punishments on illegal practices in the financial markets. reporter: among -- longer prison sentences and more accountability a promise from mark carney. in his speech to the city, the governor vowed...
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Jun 22, 2015
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greece. he faces keeping his election promises so the national backlash he would face by going against those promises and then default. that is what it comes down to as they try to come to an agreement. greece in a statement saying it's looking for a mutually beneficial agreement and eu diplomat on sunday said the ball is really in greece's court. watch angela merkel's reaction as she enters the meeting. germany is set to prepared a financial analysis of what it
greece. he faces keeping his election promises so the national backlash he would face by going against those promises and then default. that is what it comes down to as they try to come to an agreement. greece in a statement saying it's looking for a mutually beneficial agreement and eu diplomat on sunday said the ball is really in greece's court. watch angela merkel's reaction as she enters the meeting. germany is set to prepared a financial analysis of what it
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Jun 29, 2015
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greece is a difficult situation for the eu. swiss wants weakness. euro weakness. yen strengthened. at problem for the swiss nationalank as much for their european central bank. we will keep her right here on greece. dashing forecast. imposing capital controls. live on the ground. as i look at the equity markets, the dax is off by 3%. the ftse is off by 2%. and a weaker euro. we are back in two. ♪ jonathan: good morning and welcome back to "on the move." i want to check on currencies. a weaker euro. when you look at your role just a month -- when you look at euro , a move of 0.1%. a stronger swiss franc it is not that much stronger this morning. and snb jordan spieth is saying they intervened in the -- and snb jordan is speaking say they intervened and the swiss overnight. what you have seen it when we bring up a chart of euro-swiss is a turnaround in that pair. a stronger swiss was the story earlier and now weaker swiss franc as we rebound. down by 0.1%. the story playing out across individual pairs. a weaker euro pre-individual stories when you look at euro/ swiss. i want to head back out for the latest in athens.
greece is a difficult situation for the eu. swiss wants weakness. euro weakness. yen strengthened. at problem for the swiss nationalank as much for their european central bank. we will keep her right here on greece. dashing forecast. imposing capital controls. live on the ground. as i look at the equity markets, the dax is off by 3%. the ftse is off by 2%. and a weaker euro. we are back in two. ♪ jonathan: good morning and welcome back to "on the move." i want to check on...
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thanks in greece seeing deposits -- banks in greece seeing flight, you can see them tumbling 10% over the past two this. the national bank of greece falling more than 8.5%. angie: let's see how u.s. markets reacted. we have more in new york. su keenan. saw stock markets rise across the board, snapping a losing streak. no one wants to be short ahead of the fed announcement wednesday. treasuries climbed for a second day, advancing on speculation the fed will not rush to raise rates over uncertainty in greece's future in the euro. the summit tuesday is the big event, with investigators speculating rates will remain unchanged. showing afutures reduced probability for an increase. some will say this will raise the debate about what happens in december. one fund manager thinks it will accelerate the increase in rates. check out what mark heisel have to say. >> we think the market will normalize faster. nexted could get to 2% by year because the unemployment rate is coming down. you have a strong labor market, strong consumer housing recovery. the reality is that the banking system is flush with cash. you will start to see
thanks in greece seeing deposits -- banks in greece seeing flight, you can see them tumbling 10% over the past two this. the national bank of greece falling more than 8.5%. angie: let's see how u.s. markets reacted. we have more in new york. su keenan. saw stock markets rise across the board, snapping a losing streak. no one wants to be short ahead of the fed announcement wednesday. treasuries climbed for a second day, advancing on speculation the fed will not rush to raise rates over...
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Jun 4, 2015
06/15
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> argentinians demands an end to violence against women after recent murders leave the nation in shock. >>> greece'sinister says an agreement is close to saving the country from financial ruin. more on that, stay with us. ♪ ♪ >>> welcome back. a quick reminder of the top stories here on al jazerra. the u.s. has released a transcript of a 2013 distribute court where chick blazer admits where he says he and others agreed to take bribes for the 1998 and 2010 world cups. >>> yemen's former president it was suggested supported and even directed al qaeda in the arabian peninsula. a former al qaeda operative who became a government informant has spoke exclusive i feel to al jazerra. >>> family members of the dead and missing in china's cruise ship disaster have sprinted their anger against the authorities about 80 people broke through a police line trying to get information. >>> a bomb hid nene pile of scrap metal has exploded in northeastern nigeria killing two people and injuring 33, it's the second blast in the city in less than 24 hours it went off 600 meters from an army bare you can. in the last few
> argentinians demands an end to violence against women after recent murders leave the nation in shock. >>> greece'sinister says an agreement is close to saving the country from financial ruin. more on that, stay with us. ♪ ♪ >>> welcome back. a quick reminder of the top stories here on al jazerra. the u.s. has released a transcript of a 2013 distribute court where chick blazer admits where he says he and others agreed to take bribes for the 1998 and 2010 world cups....
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Jun 29, 2015
06/15
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i want to remind you that banks in greece along to the nation.is only the new liberal direction of europe that they don't let us take them. there are ways. nationalize the banks? why not? we must go to the side with no fear. some important sectors of energy and some important sectors of industry -- this is for sure. it is a bigger problem for the construction of the european union than for the greeks. greece has now, after the crashes -- [indiscernible] we have a floor to stand and fight if we remain outside of the european union. francine: it is a really tough situation for the people on the ground. we've had a lot of market volatility. german bonds climbing the most since 2011. the weekend was turmoil. we saw mr. tsipras announcing a referendum on the nation's bailout. that is raising the risk of a euro exit. the yield on the greek 10-year we don't have it there but we will in just a second. that jumped the most on record as the nation's banks impose capital controls. those capital controls will last for six days. although we have commissioners
i want to remind you that banks in greece along to the nation.is only the new liberal direction of europe that they don't let us take them. there are ways. nationalize the banks? why not? we must go to the side with no fear. some important sectors of energy and some important sectors of industry -- this is for sure. it is a bigger problem for the construction of the european union than for the greeks. greece has now, after the crashes -- [indiscernible] we have a floor to stand and fight if we...
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Jun 19, 2015
06/15
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BLOOMBERG
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bank the european central extends a financial lifeline to greece ahead of a summit that could determine the nations future. scarlett: the dinosaurs of "jurassic world" could gobble up the top spot at the box office for the second week in a row, blocking a pixar number one debut for the first time ever. pimm: good afternoon. i'm pimm fox. let's look at how the markets are trading here mid-day. all eyes on what is happening overseas and greece and particularly in st. petersburg. the s&p, you can see, down about .3%. had been holding on to record gains for a wild. the dow is down right now by 56 points. moving to the oil markets, which roiled somewhat by the strength of the u.s. dollar. pimm: let's look at how fixed income markets are performing. yields moving lower, which means prices moving higher. there's a little bit of a bit under the 10-year and 30-year at 3.06%. let's look at how the dollar is performing against major currencies -- strengthening against the euro just a little bit. the yen strengthens against the $1.22.at let's look at the top stories crossing the bloomberg terminal at this hour
bank the european central extends a financial lifeline to greece ahead of a summit that could determine the nations future. scarlett: the dinosaurs of "jurassic world" could gobble up the top spot at the box office for the second week in a row, blocking a pixar number one debut for the first time ever. pimm: good afternoon. i'm pimm fox. let's look at how the markets are trading here mid-day. all eyes on what is happening overseas and greece and particularly in st. petersburg. the...
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Jun 19, 2015
06/15
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BLOOMBERG
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and it should take them through to monday as well, but if you look watching,cks we are the national bank of greecefor bank down now even though they were gaining earlier, and this because the ecb said it would review emergency funding on monday. we been told that this sends a signal to greece that the situation is serious. back to you. pimm: thanks very much. coming up, errands for the office worker -- how a company is bringing the concierge to your cubicle. and it is not all kiss kiss in china for her she's. slowing sales are hurting the chocolate maker's sweet treat plans. interview with goto daddy's founder on how the web company is growing up -- an interview with godaddy's founder. ryan chilcote is in st. petersburg. we want to know what was the -- what and vladimir .as the takeaway in russia we will later hear from vladimir putin himself as part of his keynote address. let's check in on that. : let's start with the problems. there are decisions and standards without inking about how we understand our own s.terest as a matter of fact, they are trying to say that they know better what we need.
and it should take them through to monday as well, but if you look watching,cks we are the national bank of greecefor bank down now even though they were gaining earlier, and this because the ecb said it would review emergency funding on monday. we been told that this sends a signal to greece that the situation is serious. back to you. pimm: thanks very much. coming up, errands for the office worker -- how a company is bringing the concierge to your cubicle. and it is not all kiss kiss in china...
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Jun 30, 2015
06/15
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KQED
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. >> wooduff: the nation of greece ran out of bailout money today and defaulted on a major debt repaymentthe athens government submitted a last-minute proposal to keep the bailout alive, but it made little headway. despite the uncertainty, u.s. markets avoided new losses. the dow jones industrial average gained just over 20 points to close back above 17,600. the nasdaq rose 28 points, and the s&p 500 added five. we'll have an update from greece, later in the program. the u.s. supreme court is going to decide whether government employee unions may force non- members to pay fees. the court today accepted the case of 10 california teachers. they say having to pay union dues, when they're not in the union, violates their first amendment rights. public employees in half the states contribute to so-called "fair share" fees to support collective bargaining. new jersey governor chris christie opened his republican presidential bid today declaring he's "out to change the world." christie formally launched his campaign in livingston, jersey, where he grew up. he said the country is tired of "handwr
. >> wooduff: the nation of greece ran out of bailout money today and defaulted on a major debt repaymentthe athens government submitted a last-minute proposal to keep the bailout alive, but it made little headway. despite the uncertainty, u.s. markets avoided new losses. the dow jones industrial average gained just over 20 points to close back above 17,600. the nasdaq rose 28 points, and the s&p 500 added five. we'll have an update from greece, later in the program. the u.s. supreme...
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Jun 11, 2015
06/15
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the national bank of greece rising. all in double-digit figures. s only four cents in terms of the national share price but we are turning to see a bit of the move higher in the optimism seems to be right out there to do with grace areas as i speak angela merkel has been speaking and greece has agreed to step up efforts with creditors and everyday counts. look how those greek stocks are leading the charge. jon: the athens stock exchange up 5.6%. not sure if the words greece and optimism go together. let's talk cars. bmw debuting its new series model. trying to take back market share. >> the seven series is the pinnacle of our brand. it is the car that brings the new technology and the innovation and it is a car driven by the opinion leaders and the movers and shakers around the world. it is a very proud moment for us as the sixth generation seven series is unveiled. jon: let's get to our bloomberg reporter in berlin. what do we need to know about the seven series? reporter: it is packed with all kinds of technological bells and whistles. it will be
the national bank of greece rising. all in double-digit figures. s only four cents in terms of the national share price but we are turning to see a bit of the move higher in the optimism seems to be right out there to do with grace areas as i speak angela merkel has been speaking and greece has agreed to step up efforts with creditors and everyday counts. look how those greek stocks are leading the charge. jon: the athens stock exchange up 5.6%. not sure if the words greece and optimism go...
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Jun 22, 2015
06/15
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national income. it is a dreadful mess. >> the cost of greece not together a deal beaubois colossal. the boss of one of the big banks tells me anxious investors are with drawing billions from their accounts. >> the greek banging system cannot continue in the current situation of every day losing hundreds of millions of euros by gotors that are fearful -- for goters fear full. we have no way to measure today what would happen if we follow that path. i am afraid, as an economist, that it would be a disastrous event for everybody here. >> do you think the government is doing a good job in the negotiations? >> until now, no. hopefully it will do something better today. >> the government was a new government and maybe some mistakes were made. but for sure they are honest people. they are people who are trying for best of greece. >> we are in a very difficult situation, and we can't find a normal solution. >> stay with the deal to avoid default and stay in the euro seemingly in sight, there is a gentle balmy wind perhaps blowing from brussels which could nurture that greek and eurozone rec
national income. it is a dreadful mess. >> the cost of greece not together a deal beaubois colossal. the boss of one of the big banks tells me anxious investors are with drawing billions from their accounts. >> the greek banging system cannot continue in the current situation of every day losing hundreds of millions of euros by gotors that are fearful -- for goters fear full. we have no way to measure today what would happen if we follow that path. i am afraid, as an economist, that...
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Jun 5, 2015
06/15
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the cash strapped nation of greece has just missed the deadline for a $333 million debt payment to itsthe news tanked the dow yesterday. a greek newspaper reports the country will bundle the entire month's lone payments into one $1.7 billion at the end of the month. officials say many panicked greeks are withdrawing money from banks at a record rate and warn public coffers are empty. >>> you can gate lot of good deals at the mall, but in this case the good deal was the mall. an entire shopping center sold for $100. that's next. usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. >>> disaster teams in eastern china righted a cruise ship that
the cash strapped nation of greece has just missed the deadline for a $333 million debt payment to itsthe news tanked the dow yesterday. a greek newspaper reports the country will bundle the entire month's lone payments into one $1.7 billion at the end of the month. officials say many panicked greeks are withdrawing money from banks at a record rate and warn public coffers are empty. >>> you can gate lot of good deals at the mall, but in this case the good deal was the mall. an entire...
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Jun 28, 2015
06/15
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ALJAZAM
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greece's banks will be closed on monday in a recorded mess able to the nation the prime minister of greece called for calm and said they were safe. >>> diplomats are expected to miss the deadline for reaching a nuclear program with iran. differences between world powers and iran remain on what should be in the final deal. >> security has been increased in tunisia where a thousand extra police have been deployed after friday's deadly attack where 38 people were killed. >> police in armenia are threatening to forcibly break up an antigovernment rally with a reported 60,000 people now on the streets of the capital. it's a protest that began in anger over a planned hike in electricity costs. the government will now shoulder that rise but it's done little to appease the protesters who are unhappy with the continuing russian influence in their country >>> brundi will be holding delayed parliamentary elections on monday but opposition parties are boycotting the vote and the african union says it won't send observers. meanwhile, political violence continues. at least two people were killed overnig
greece's banks will be closed on monday in a recorded mess able to the nation the prime minister of greece called for calm and said they were safe. >>> diplomats are expected to miss the deadline for reaching a nuclear program with iran. differences between world powers and iran remain on what should be in the final deal. >> security has been increased in tunisia where a thousand extra police have been deployed after friday's deadly attack where 38 people were killed. >>...
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Jun 26, 2015
06/15
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greece. the banks lead the charge of the day. the national bank of greece.oint about it is that if monday has no deal, you could see capital controls. if there is a deal, it could be the banks where you could perhaps see the best rewards. the usa on $5.7 billion worth of greek stocks. you are the single biggest shareholder in the greek stock exchange. it is the size of a medium-sized company, but there is no doubt about it. money every day this year has gone into the etf that follows the greek ranks. a couple of other and mental -- european stocks has down 4.8% today. potash.ys make that's mixed fertilizer that makes everything grow. can they or will they expect an offer from potentially the po -- corporation? will they accept a 40 euro offer. who would've thought it could bring a stock up by nearly 40%? here's the euro for the day. not optimistic on a day like this or are they? will it be the qe that takes the euro lower? the euro dine a half of percent. a lot in europe this week. overnight, chinese stocks sank the modes of this mounting concerns of the cou
greece. the banks lead the charge of the day. the national bank of greece.oint about it is that if monday has no deal, you could see capital controls. if there is a deal, it could be the banks where you could perhaps see the best rewards. the usa on $5.7 billion worth of greek stocks. you are the single biggest shareholder in the greek stock exchange. it is the size of a medium-sized company, but there is no doubt about it. money every day this year has gone into the etf that follows the greek...
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Jun 18, 2015
06/15
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national bank of greece is up 1.66%.is a highly volatile stock i don't get needs -- need that much optimism for a deal today. guy: caroline hyde on the key stocks this morning. the st. petersburg forum is this week, ryan chilcote is there this week. ryan: the chairman of team k coming the world largest height maker by volume. he can give us real insight to what is going on. as well as what is going on with oil prices you have business in russia, the united states, there is a lot to talk about. one of the things i am asking all of my guests is how our sanctions affecting business? you have 20% of your sales last year. >> our main domestic markets are russian and pakistan. about 60% of revenue was in russia. we have disadvantages to be sanctions. we stopped our joint r&b between russia and the united states now are engineers speak to each other through lawyers. ryan: you are russian and engine -- your russian and english engineers can only talk to each other if there is a lawyer. because some of them target technology tran
national bank of greece is up 1.66%.is a highly volatile stock i don't get needs -- need that much optimism for a deal today. guy: caroline hyde on the key stocks this morning. the st. petersburg forum is this week, ryan chilcote is there this week. ryan: the chairman of team k coming the world largest height maker by volume. he can give us real insight to what is going on. as well as what is going on with oil prices you have business in russia, the united states, there is a lot to talk about....
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Jun 29, 2015
06/15
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traded in new york for the national bank of greece, down some 30%, giving you a sense of the three tiersf thinking starting with consumer moves to the business and finally the investor. there is no unanimity on the of these capital controls, but there may be a convergence in those points of during the week. more is coming to you later. nichols, berlin, is there unanimity among the editors? in the past hour we heard from the vice-chairman. what is your take away from what we heard her say? is she preparing the german people for this greek exit? hans: she is, but you wants to leave a bit of room for a new government in athens to have a third bailout package. one thing that has been very clear is that greece now has to vote. what everyone is trying to do, they want to explain the deal that they have offered because they think it is a remarkably generous and open idea and offer that gives them quite a bit. if you have a vote in athens and they vote yes against the position, you could see how there is a technical agreement, a technical government that could potentially come back to renegotiat
traded in new york for the national bank of greece, down some 30%, giving you a sense of the three tiersf thinking starting with consumer moves to the business and finally the investor. there is no unanimity on the of these capital controls, but there may be a convergence in those points of during the week. more is coming to you later. nichols, berlin, is there unanimity among the editors? in the past hour we heard from the vice-chairman. what is your take away from what we heard her say? is...
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Jun 30, 2015
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. >> reporter: but in greece alexis tsipras tomentd national told government television that he's upholding their values. >> translator: i am under the impression that the creditors are be confused, they do not want a referendum in greece. they don't want any noes. >> the prime minister's supporters those urging a no on the referendum were out in force in central greece. in greek no is oxi with resonates with defiance. these say if anyone has been betrayed it is the greek people who have endured five years of austerity and see no economic recovery in sight. the consequences of defying europe could be catastrophic. but these people are prepared to take that risk. in theory, there's still time for a last minute deal between the greek government and its creditors. in practice, there's such bad feeling between them that the chances of compromise are fast slipping away. barnaby phillips, al al jazeera athens. >> 77% of the gross domestic product, wholesale retail prayed communicates, public administration defense and social security along with tour i. 4% of the gdp comes from agriculture, forest
. >> reporter: but in greece alexis tsipras tomentd national told government television that he's upholding their values. >> translator: i am under the impression that the creditors are be confused, they do not want a referendum in greece. they don't want any noes. >> the prime minister's supporters those urging a no on the referendum were out in force in central greece. in greek no is oxi with resonates with defiance. these say if anyone has been betrayed it is the greek...
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Jun 30, 2015
06/15
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FBC
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if you thought -- bought the national bank of greece this morning it is up 9% it is a silver lining with six pennies it is $0.66 that we are still watching nonetheless. markets are moving higher. now we get to the deadline for a nuclear deal in vienna. it was the deadline that was not. those that agreed to extend the deadline through july july 7th but it will allow for further discussion will a nuclear deal be made in the next few days that we should embrace or reject? former director of central intelligence and current chairman of defense democracies. it has been extended. what do you think? will we get it by mid july? >> i hope not. i chance to get a deal to reduce iran opportunity to move to nuclear weapons is a land to zero we're on some type of day path but this seems they want to keep that negotiation process going and congress will get to vote the you have any idea what it looks like at this point? >> it turns sour a year and a half ago we went into this with a solid perspective to keep iran from becoming a nuclear power, and this is the crucial part, not with the domestic infrast
if you thought -- bought the national bank of greece this morning it is up 9% it is a silver lining with six pennies it is $0.66 that we are still watching nonetheless. markets are moving higher. now we get to the deadline for a nuclear deal in vienna. it was the deadline that was not. those that agreed to extend the deadline through july july 7th but it will allow for further discussion will a nuclear deal be made in the next few days that we should embrace or reject? former director of...
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Jun 18, 2015
06/15
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BLOOMBERG
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it is down to the wire again for greece as the nation faces critical deadlines to pay the imf and reach a new deal on aid with europe. olivia: we have an exclusive interview with venture capitalist john doerr. mark: and the treasury department making history by announcing a woman will be honored on the face of the new $10 bill. we will tell you what's behind that decision. olivia: good afternoon. mark: thank you for joining us. let's begin with a look at the markets. stocks on the rise -- a nasdaq composite hit an all-time high earlier, when day after the fed signaled it would continue to support the economy even as growth picks up. motorcycle maker harley-davidson afterthe biggest gainers its board approved a big stock buyback program. up dow jones industrials over a full percentage point. the s&p 500 also up over a full percent. rising into record high territory today. gold rose the most in five weeks. gold is now trading up nearly 2% $1200 $.20 an ounce. stop00 $.20 an ounce will -- oil as you see, trading up three quarters of a percent. show you what's happening to the bond markets
it is down to the wire again for greece as the nation faces critical deadlines to pay the imf and reach a new deal on aid with europe. olivia: we have an exclusive interview with venture capitalist john doerr. mark: and the treasury department making history by announcing a woman will be honored on the face of the new $10 bill. we will tell you what's behind that decision. olivia: good afternoon. mark: thank you for joining us. let's begin with a look at the markets. stocks on the rise -- a...
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also the national bank of greece was higher. so they are batting a deal comes through. sandra: but that is something with it done. however, so much weakness in europe this morning. all down more than a 4%. in fact the cac down more than 10% with skepticism by the actual deal. nicole: you have to remember tsipras was elected on anti-asperity. if you can too much, will there be new elections in greece? the risk of another mess up their. sandra: all the weakness in europe and in the u.s. down triple digits overnight. taking a look at today's potential market moving data. in addition to stories, you'll notice a theme. it's all about jobs. at 7:30 a.m. eastern time, monthly report on corporate layoffs from challenger gray and christmas. an hour after that, a weekly look at jobless claims. 270,000 people expected for first-time jobless benefits last week. i'd be down from the 282,000. of course this comes ahead of friday. tomorrow's a government monthly jobs report 225,000 expected to be a nonfarm payroll payroll to the unemployment rate remaining at 5.4%. also today at 8:30,
also the national bank of greece was higher. so they are batting a deal comes through. sandra: but that is something with it done. however, so much weakness in europe this morning. all down more than a 4%. in fact the cac down more than 10% with skepticism by the actual deal. nicole: you have to remember tsipras was elected on anti-asperity. if you can too much, will there be new elections in greece? the risk of another mess up their. sandra: all the weakness in europe and in the u.s. down...
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Jun 5, 2015
06/15
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it was in talks to swap assets with liberty global, but not discussing a merger to national bank of greeceworst performers today on the equity benchmark, but also for this week. the euro has been resilient this bike concerns about greece. we have seen it have its biggest two-day gain since dude -- 2009. look what happened earlier today. you saw it absolutely plummet. that was u.s. jobs. back to you. u.s. officials say chinese hackers are responsible for stealing the records of as many as 4 million government workers. there are signs that these are the same people behind the recent cyberattacks on health insurers anthem and premier blue cross. they still information on about 80 million customers. says 11, blue cross million people may of been exposed. at the implications with the former homeland security secretary michael chertoff. he joins us be a telephone. -- via telephone. and also bloombergs mike riley. can you begin by giving us any more details and what is been learned about the attack? mike: you had a disclosure yesterday that the breach of the office of personnel management was muc
it was in talks to swap assets with liberty global, but not discussing a merger to national bank of greeceworst performers today on the equity benchmark, but also for this week. the euro has been resilient this bike concerns about greece. we have seen it have its biggest two-day gain since dude -- 2009. look what happened earlier today. you saw it absolutely plummet. that was u.s. jobs. back to you. u.s. officials say chinese hackers are responsible for stealing the records of as many as 4...
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Jun 12, 2015
06/15
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BLOOMBERG
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national bank of greece, down 11%. depth of the decline is perfectly evident in this chart. all three industry groups on the stoxx 600 finishing lower, led by oil and gas, basic materials, health care. what a 24 hours it has been. angela merkel urging sippers to set a framework for financial pras to set a framework for financial aid. throw into the mix the imf , adding out of brussels up to a recipe for uncertainty in european asset markets. there is the stock 600. at one stage, heading for its sincelosing stretch october. a small gain over the week. it is all about greece, that to you. stock one chinese tech has surged 4200% over the last 55 trading days. the rally has something to do with it but it is also emblematic of the way chinese firms are choosing to list in shanghai rather than here in new york. david ingles has the story. this rallynow about across the chinese sector, including tech. it is spurred more of chinese own tech companies to look inward, investing in their own markets. companies listing elsewhere l
national bank of greece, down 11%. depth of the decline is perfectly evident in this chart. all three industry groups on the stoxx 600 finishing lower, led by oil and gas, basic materials, health care. what a 24 hours it has been. angela merkel urging sippers to set a framework for financial pras to set a framework for financial aid. throw into the mix the imf , adding out of brussels up to a recipe for uncertainty in european asset markets. there is the stock 600. at one stage, heading for its...
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Jun 5, 2015
06/15
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BLOOMBERG
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hit, banks taking a big both alpha bank and national bank of greece among others.s actually been fairly resilient among concerns about greek. it had its biggest two day gain since 2009 in a little rally earlier this week but guess what we have seen today? it is down and here's where everything changed. what do you think that was? u.s. jobs. julie: i am taking a look at what is going on with u.s. stocks. we are now seeing stocks gain. earlier there had been some indecisiveness expressed in the market as reported by the job report but the group who is doing the best in s&p 500 is energy. it is interesting the divergence we are seeing between oil prices and energy stocks. energy stocks remain higher even has oil has turned lower. remember the opec meeting this morning they held the expectation study. spiked, then it came down, but oil stocks are holding onto their gains. the second-best performing group, the banking group. --t may be as we are ceiling we are seeing the yield curve widen to some extent here it we are studying -- we are starting to see rates go higher.
hit, banks taking a big both alpha bank and national bank of greece among others.s actually been fairly resilient among concerns about greek. it had its biggest two day gain since 2009 in a little rally earlier this week but guess what we have seen today? it is down and here's where everything changed. what do you think that was? u.s. jobs. julie: i am taking a look at what is going on with u.s. stocks. we are now seeing stocks gain. earlier there had been some indecisiveness expressed in the...
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Jun 30, 2015
06/15
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FOXNEWSW
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. >>> greece moves closer to de default default. while the rating agency cuts the nation'sditing rating further. u.s. investors naurtot liking what they're seeing. stocks down 2%. banks will remain closed the rest of the week. customers are limited to a daily withdrawal of $67. thousands of demonstrators gathered outside of parliament in athens today in a show of support for the government. greece's national debt now exceeds more than $300 billion. >>> funeral services held today for the last victim in the attack on charleston's emmanuel ame church. myra thompson had just earned her minister's license the day she was killed. back to "hannity." >>> >>> the first amendment says that in institutions of faith there is absolute power to observe religious deeply held religious beliefs. i don't think it extends far beyond that. they're talking about expanding this far beyond our churches and synagogues to businesses and individuals across this country. i think there are clear limits that have been set in other contexts. and we ought to abide by those in this new context across ame
. >>> greece moves closer to de default default. while the rating agency cuts the nation'sditing rating further. u.s. investors naurtot liking what they're seeing. stocks down 2%. banks will remain closed the rest of the week. customers are limited to a daily withdrawal of $67. thousands of demonstrators gathered outside of parliament in athens today in a show of support for the government. greece's national debt now exceeds more than $300 billion. >>> funeral services held...
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Jun 15, 2015
06/15
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CNBC
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greece isn't necessarily wrong. we don't know what the world will look like financially if a nation state like greece defaults.bviously, someone owns greek debt. where is that debt? we don't know. there isn't a schedule or a list of holders who's in shape to take those losses. we don't know. what happens if there's stupid banks that bought a lot of greek bonds and need to sell better assets because they are buried in this junk? we don't know. how do you know some countries will suffer downgrades from the major ratings agencies? these downgrades of countries have also caused weakness in europe so bank failures because of bad assets the hedge funds here know that the european economy will face a slowdown. if greece goes under, well the economy will slow. i think the greek government has no idea about the world of hurt if it defaults and perhaps gets kicked out of the you're zone. when that happens, zone the debt holders lose big and we know business in europe will momentarily taper off or freeze until things get sorted out, so we would easily cut numbers for the u.s.-based international companies that do busines
greece isn't necessarily wrong. we don't know what the world will look like financially if a nation state like greece defaults.bviously, someone owns greek debt. where is that debt? we don't know. there isn't a schedule or a list of holders who's in shape to take those losses. we don't know. what happens if there's stupid banks that bought a lot of greek bonds and need to sell better assets because they are buried in this junk? we don't know. how do you know some countries will suffer...
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Jun 19, 2015
06/15
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BLOOMBERG
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look at the stoxx we're watching, collect telecom company is still up, but alpha bank, the national bank of greeceven though they were gaining earlier. ecb saidecause the it's going to review the emergency funding on monday. what this does is it sends a signal to greece that a situation is serious. back to you. mark: chinese stocks had their worst week in seven years, and there is fear this might well be the start of a painful correction that analysts have an waiting for. david ingles filed this report. david: it has been an eventful week in china. all was well and good last week, and in five days, we entered a correction. only their what we actually see volatility. it's been pushing to extreme levels. you have a long-term average valuations at about 10 times expected earnings. 19,re now pushing towards within a span of 10 months. there is concern over what regulators will do next to manage all this risk of outstanding market debt. tighteningg -- restrictions. it may be the start of a bigger winding down. i hope not, but we will see. mark: let's take a look at the top stories crossing the terminal
look at the stoxx we're watching, collect telecom company is still up, but alpha bank, the national bank of greeceven though they were gaining earlier. ecb saidecause the it's going to review the emergency funding on monday. what this does is it sends a signal to greece that a situation is serious. back to you. mark: chinese stocks had their worst week in seven years, and there is fear this might well be the start of a painful correction that analysts have an waiting for. david ingles filed...
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Jun 24, 2015
06/15
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BLOOMBERG
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national bank of greece down 5.8%. big question is whether we are going to get any sort of a deal on greece today. alexis tsipras flying to brussels to me creditors. they are going to try to hash something out. eu leaders can address something at the end of the week, but there are stumbling blocks. what ever is decided has to be approved by german and greek parliaments. perhaps that is what is causing concern. harvard university professor ken robles said a deal on greece is unlikely to lead to an economic upswing in the country. i wonder if that is impacting this sentiment today as well. i will finish looking at greek borrowing costs. look at the 10-year cost for borrowing costs. we saw some big drops in the 10-year yield right about here over the past few days. much less of a drop today although you are still looking at 10.5% on that yield compared to 13% just a few days ago. back to you. mark: still to come on this program, we will hear exclusively from french national front leader and candidate marine le pen. find o
national bank of greece down 5.8%. big question is whether we are going to get any sort of a deal on greece today. alexis tsipras flying to brussels to me creditors. they are going to try to hash something out. eu leaders can address something at the end of the week, but there are stumbling blocks. what ever is decided has to be approved by german and greek parliaments. perhaps that is what is causing concern. harvard university professor ken robles said a deal on greece is unlikely to lead to...
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Jun 10, 2015
06/15
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BLOOMBERG
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national bank of greece and other banks are falling today.utting its aggregate estimate for 2015 earnings. julie come over to you. julie: it is a good day for u.s. stocks, mark. thank you very much could s&p snapping a three-date losing streak. 170 points right now and having its best day in nearly a month. stocks rising here. if you take a look at what is going on in the bond market, similar action to what we are seeing in europe. that is, we're seeing yields rising. the yield on the 10-year at its highest in about eight months, in addition to the writing, outlook that mark referred -- writing economic outlook that mark referred to. increasing supply is putting pressure on prices. not to mention again the move we are seeing in the currency market. the dollar versus the yen. central bank governor said that the yen's decline is overcome if you use your common sense. he did back off on the comment somewhat, but nonetheless, the retain its games and is having its best day in six months time. getting back to the u.s. stock market, want to mention
national bank of greece and other banks are falling today.utting its aggregate estimate for 2015 earnings. julie come over to you. julie: it is a good day for u.s. stocks, mark. thank you very much could s&p snapping a three-date losing streak. 170 points right now and having its best day in nearly a month. stocks rising here. if you take a look at what is going on in the bond market, similar action to what we are seeing in europe. that is, we're seeing yields rising. the yield on the...
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Jun 21, 2015
06/15
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ALJAZAM
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greece returned to its own currency. joining us from washington is a professor of international finance at george washington university. thank you so much for joining us. the head of the national bank of greece said this weekend that it would be insane not to reach an agreement at these emergency talks. do you agree? >> absolutely. i think monday really is d. day for greece. they have to reach an agreement and they have very little room to negotiate at this point. >> what do you think greece must give up in order to strike a deal? >> well, essentially, they have to hold the terms of the bailout. that means they have to make cuts up to $5 billion in pension and labor costs and i don't think there is any getting around that. there is a long term plan that greece has to formulate but that deal will not be cut on that monday. on monday all the e.u. wants to hear is that they will hold up the terms of the bailout that they had agreed to in the past. >> all right. so the former u.s. treasury secretary, larry summers is weighing in, telling the washington post that the prime minister needs to accept further value-added tax and pension reforms to achieve primary surplus targets this y
greece returned to its own currency. joining us from washington is a professor of international finance at george washington university. thank you so much for joining us. the head of the national bank of greece said this weekend that it would be insane not to reach an agreement at these emergency talks. do you agree? >> absolutely. i think monday really is d. day for greece. they have to reach an agreement and they have very little room to negotiate at this point. >> what do you...
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Jun 22, 2015
06/15
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ALJAZAM
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greece is to pay off its debts. >> europe's largest creditor nation germany is demanding greece have urgent reforms. >> our stabilization policy has worked in recent years in the european countries where reforms have not only been agreed to but also implemented. as long as reforms are carried out. >> suggested reforms include cuts you president obama pensions and some tax rises something the greek government vowed to resist. a time of anxiety and responsibility, reads this title. the countries leftwing governments promised a new deal ahead of monday's summit but say there can't be any agreement that puts more greeks below the poverty line. as prime minister alexis tsipras leaves his office for belgium he knows the next 24 hours are crucial. all eyes are now on brussels to see if the deadlock can be broken. >> greece currently owes the european union and international monetary fund $8.1 billion in bailout funds. the i.m.f. is expecting to be repaid part of that debt in the sum of $1.8 billion. currently, one in four greeks is jobless and thanks largely to austerity measures imposed by the i.m.f., european union and europ
greece is to pay off its debts. >> europe's largest creditor nation germany is demanding greece have urgent reforms. >> our stabilization policy has worked in recent years in the european countries where reforms have not only been agreed to but also implemented. as long as reforms are carried out. >> suggested reforms include cuts you president obama pensions and some tax rises something the greek government vowed to resist. a time of anxiety and responsibility, reads this...
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Jun 15, 2015
06/15
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FBC
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stocks like national bank of greece looked a 1 pnt 16 stock that is a near run on banks that is not a good thing either. european shares overnight also tanks let's bring in our traders with the new york stocks exchange cm terms ande group ths so scott you would argue if we start to see a run on banks what should u.s. investor be doing today to break themselves for a rough ride of default? >> it depends on the investor's time frame. you know if that happens and market actually dips and we get a correction of 10% or so. i think people could get back involved and not feel like they're chasing the market if you're an active investor and my specialty you want to watch your level and peripheral yield spike, if we break 270 s&p we don't have any support down till about 245. >> 282 right now for the s&p 500. but scots are you telling me that this is a opportunity if there's laibts of con contagion? >> i think so. i think you have to know your time frame last week's flow we could see two, three% quick air pocket, and for traders they don't want to be caught in that. you need to know if that do
stocks like national bank of greece looked a 1 pnt 16 stock that is a near run on banks that is not a good thing either. european shares overnight also tanks let's bring in our traders with the new york stocks exchange cm terms ande group ths so scott you would argue if we start to see a run on banks what should u.s. investor be doing today to break themselves for a rough ride of default? >> it depends on the investor's time frame. you know if that happens and market actually dips and we...