. >> as agreed, new official financing of 130 billion euros will be committed by the euro area, by the imf for the period of 2012-2013. >> the finance ministers of the 17 eurozone nations reached the decision on monday as the debt-strapped nation has met necessary conditions. the greek government says it has secured 96% of its debt reduction target amount. you're o'group president jean-claude juncker also urged greece to successfully implement promised austerity measures. he said greece should not waste the second chance it's been given. >>> the eurozone ministers have also agreed to ease spain's fiscal reform climate given the region's difficult economic climate. spain is now obliged to reduce its budget deficit to within 5.3% of gdp this year. it has until next year to meet the original goal of 3% or less. >>> german car manufacturers have reported record profits for 2011. a weak euro boosted sales in china and other emerging markets. volkswagen said that sales in 2011 for its ten brands rose to nearly 160 billion euros, or $210 billion. net profit also hit a record of nearly $21 bil

financing. new york officials are now saying market conditions contributed to the shutdown.o word on how long the shutdown will last. no comment from the company on the latest report. >> it is a done deal. st. agnes has purchased historic old gibbons high school. education reporter tim tooten has that story. >> the old gibbons high school had been boarded up because it was forced to close. now all that is going to change. >> the idea was to create a space that's inviting and supportive to the community. they are planning to eventually redevelopment the school's baseball feel. the very field where babe ruth once played. the cal relationship -- cal ripken jr. baseball foundation is already working on plans to turn the baseball diamond into a vuth youth development park. >> the cal relationship keven foundation is committed to working with st. agnes hospital to build the best possible youth development parks utilizing this area to maximum its potential. >> it has been almost two years since cardinal edwin o'brien. >> the decision to close cardinal gibons gsh -- gibbons is the m

the biggest consumers of iranian oil and american officials are quoted as saying that indian banks may be locked out of the american finance system if new delhi doesn't reduce the amount of oil it buys from iran archies korea shrader explains. so far indian officials have refused to stop buying iranian oil which washington has clearly been very angry about some top u.s. state department officials in the past couple of weeks of said that this was a slap in the face to the indian foreign minister has said that while india has followed u.n. sanctions in the past there is nothing that actually binds them to follow them another big point that many indian officials here are sort of looking at is that the new u.s. law doesn't specify what percentage nation must reduce its import to qualify it from exemptions from the same sions so right now there have been reports surfacing that obama could impose penalties on india as early as june twenty eighth many analysts here in india are thing that simply won't work in india and china don't get on board the united states is actually trying to pressure india to start view thing oh oil. and iraq which obv

new this morning, there is a breakthrough on greece's debt crisis. greece just announced it managed to convince enough creditors to agree to take big losses on greek ponds and avoid default. finance officials say 58% of private investors signed on to the deal and stock markets around the world are rising on that good news. >>> two people are dead after a shooting here at the university of pittsburgh yesterday and seven others were hurt including a police officer. turns out a man walked into a psychiatric clinic here and opened fire. he had two semiautomatic handguns. >>> was it an innocent game or discipline gone too far at one local school. coming up next. >> he started going around with the tape and then doing my legs. i'm like this is so embarrassing. he was laughing. everybody in the class was laughing at me. >> why did a teacher allegedly tape a student to a chair? that is coming up next. stay with us. fox 5 morning news continues. i can't stand these spots. those spots are actually leftover food and detergent residue that can redeposit on your dishware during the rinse cycle. gross. jet-dry rinse agent helps wash them away so the only thing left behind is the shine. jet-dry rinses aw

city officials sold bonds to finance redevelopment projects like a new hotel and an upscale events center, built near the water that is channeled up to stockton from san francisco bay. the projects have not generated a lot of business. and the city constructed a new marina, which is only partially successful. "stockton record" columnist michael fitzgerald watched it all happen. >> in the first decade of the 2000s, city government racked up $319 million on construction costs, and that debt is still hovering over the city. >> reporter: dwane milnes was city manager during much of that time, and today heads the retired city employee organization. >> the city was very anxious about economic development, all with the objective of bringing people into the core of downtown. >> reporter: didn't quite work though, did it? >> it hasn't worked yet. what people expected was instant miracles. you don't build a ball park and an ice arena and a downtown theater all within a short period of time; you stretch those out. >> reporter: but fitzgerald says there was more the city council did wrong back then.

they received financing from a new york hedge fund, but now union officials are now quoted as saying that market conditions have contributed to the shutdown. no longer on how long it will last and argie steel is not commenting. >> more now on the breaking news from the top of the hour. anne arundel county executive john leopold indicted on charges that he used police security in for escorts. the county executive joins us on the phone now. thank you for joining us, mr. leopold. what are your statements about the indictments? >> the state prosecutor has developed at his side of the story. i look forward to my son of the story being heard. in a court of law, both sides have the opportunity to present evidence and an argument as opposed to the grand jury process which can be manipulated solely by the state prosecutor. walloon be inappropriate for me to comment on the allegations, the citizens of the county can look to my decades long tenure and know theat i place their interests above everything else. i would ask them to be patient with the judicial process. >> you do not want to go into

the city council gave its ok to a $1.7 billion financing deal to build the stadium and surrounding property. >>> , news of a close call for a top u.s. official in afghanistan. >> mark is back with more on what you can expect from the weather for the rest of the afternoon and the week. >> i'm feeling great, looking forward to playing in the tournament. >> just to bay area teams are playing in the ncaa tournament. >>> we americans and brits speak the same language, most of the time. so let me just say, david, we are chucked to bits that you are here. >> president barack obama gave british prime minister david cameron a formal welcoming ceremony today at the white house by speaking some british english. it's not an official state visit. that's because the queen is considered the british head of state. president barack obama and the prime minister are holding talks today. >>> president barack obama said he does not anticipate any sudden or additional changes to the timetable for drawing down u.s. troops in afghanistan. those comments came during a join news conference with british prime minister david cameron in the rose garden this morning. mr.

new violence. >>> the international pressure on iran is threatening one neighbor's energy plan. pakistan wants to build a natural gas pipeline from iran. but it's struggling to finance the construction. pakistani officials say they will now approach russia for help. iran has already begun building its part of the 780 kilometer pipeline but the project stalled in pakistan amid strong opposition from the united states. the u.s. government argues that the pipeline would help fund iran's nuclear development. >> pakistan is visiting moscow early next month to have discussions on this project of russian and companies including gas. >> a major chinese bank has shown interest in backing the project but it appears to have back pedalled. >>> while many people have different perspectives on the state of the global economy. some say signs point to a recovery. others say they are not so sure. joining us with the details, what are the -- what's the oacd saying? >> the people who work there are definitely in the group expecting an improvement and that would be for the global economy and for the first half of this year. still, it expresses caution about the high prices of crude oil. the oecd released the latest assessm

finances and pension debts. the request comes before tomorrow's meeting where officials will consider whether to modify a june pension reform ballot measure backed by mayor reed. the mercury news reports employee unions have criticized the mayor for his estimate of 650 millions in future pension costs claiming he inflated the estimate by hundreds of millions to support his political argument. the mayor has called that figure a worst-case scenario. >>> a fire that ripped through homes in san francisco's bayview district may be the result of scatters. the blaze began in a home ban -- of squatters. the blaze began in a home abandoned for months. >>> it is just something that the city is failing to act on that is in the bayview, a shame there are hundreds of blighted buildings. >> the flames spread to knee homes and displaced 30. investigators trying figure out where and how that fire started. >>> how did you like the warm temperatures yesterday? >> it was gorgeous. we'll check in with mike now and see what is in store at the start of of this week. >> it looked like this weekend was going to be the warmest and we have a cooling trend on the way for this afternoon. fog around novat

the mill restarted production earlier this year after receiving financing from a new york hedge fund. union officialsuth quoted as saying market conditions contributed to the shutdown. there is no word yet on exactly how long the shutdown will last. r.g. steel is not commenting on these latest reports. >> anne arundel county scul executive john leopold has been indicted on misconduct in office. according to the inindictment he used members of his police authority to he is court him to rend views in parking -- for sexual rendevouses in parking lots. >> the only forum for discussing these issues is in court, not the press. >> leopold is also accused of turning police officers into pliling political workers for the sole purpose of removing, placing, and replacing campaign signs. >> dozens gathered for a vigil in dundalk to remember the maryland soldier killed in afghanistan. family and friends of major robert marchante held a vigil many called a soft-hearted warrior. the teacher was one of two soldiers murdered in afghanistan after u.s. troops mistakenly burned copies of the koran. >> can we expect on a

new greek bonds worth less than half the old ones. the finance minister called it "an exceptional success," but banking officials in germany and elsewhere said greece's troubles are far from over. >> i think there will not be an immediate default of greece but there surely is the possibility that we will be back in this situation in six months' time because there are a lot of questions to be answered. greece has to become competitive again. they have to execute the austerity measures. so it is a long way to the economic recovery of greece. >> holman: the deal with private creditors was a key condition for greece to receive a new european bailout totaling $172 billion. final approval for the bailout could come next week. in syria, activists reported at least 54 people were killed nationwide. smoke rose over the battered city of homs again as government tanks resumed shelling residential districts. 17 people were reported killed there. despite the violence, crowds of protesters gathered after friday prayers. they waved flags and signs, and chanted anti-government slogans. meanwhile, the leader of the main opposition group rejected a call

officially a done deal. the santa clara city council has given final approval to all the financing involving the 49ers new footballkcbs radio's matt bigler joins us from san jose to explain why the stadium will cost the 49ers more money than originally planned. >> reporter: good morning. this is the last significant step in what has been a six- year quest for the 49ers to bring a professional football stadium to santa clara. last night the santa clara city council approved two measures that effectively pave the way for construction to begin. we could see bulldozers rolling here in a matter of weeks. the vote last night was 6-1 approving those two measures. the lone dissenting vote jamie mccloud wanted voters to have a second chance to sign off on it since the price of the stadium has gone up. it was estimated to be $937 million. now those figures are $1.2 billion. that includes an additional $50 million for high-tech gadgets that no other nfl stadium has. but as you said the cost to taxpayers has gone down a little bit. we learned over the weekend that at the last minute the 49ers have agreed to pay an additional

finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. >>> welcome back. we have breaking news. bats has officiallyo. tried to take the company on its own exchange. the stock opened down and then was halted the rest of the day. now it is canceling that ipo. >> bob pisani here at the booth. what a debacle? >> they are going to be studying this for a long time. the ceo just put out a statement saying, in the wake of today's technical issues which affected the trading of certain stocks, including that of bats, we believe that withdrawing the ipo is the appropriate action for the company to take and for our shareholders. of course, this does not mean that there never is going to be an ipo. they could refloat the ipo at some other time. but obviously you can imagine trying to reopen the stock. not at 3:00 today or at any time with orders in at $16 with what has been going on. the bids would simply not be there. everybody just wanted out at that point, i'm sure. >> one of the issues, and this is sort of talked about on the floor, but what are the ramifications of this? are we going to see investors upset

officially a done deal. the santa clara city council has given final approval to all the financing involving the 49ers' new footballd features have increased the overall cost of the stadium near great america but the extra costs will not fall on city taxpayers. if all goes as planned, the 2013 season will be the 49ers' last here in san francisco. >>> and it is a mess out in traffic. we've got wet weather. we'll get an update on both of those things coming up. ,,,,,,,, >>> good morning. we have a long line of very red traffic centers, meaning a lot of brake lights across the stretch from san rafael all the way down. so a lot of slowing. north and southbound 101. and this live look. obviously it is very slick and also pretty windy outside as well. northbound 280 we have an accident blocking one lane and check out the conditions on the nimitz. north and southbound past the coliseum it's slow going. that's traffic. >>> plenty of rainfall around the bay area. over five inches in some of the mountains in santa cruz and still more to come. doppler showing you more rainfall spreading on shore. some of that pretty good as w

before he had to report them to campaign finance officials he had worked with jeff thompson in the past and didn't suspect anything was wrong until a radio newseport revealed a connection to jeffrey thompson. tony and allison we will keep an eye on this one. >> you know we will be thank you. >> very complicated. >> definitely. >>> it is 22 minutes after 7:00 a.m. now last year's earthquake caused a lot of cracks to the washington monument, but is there more damage than was first thought next what surveyors are looking for this time around. >>> and a comedy sensation is playing out in the nations capital the tony award winning musical, monte python's spam a lot will keep you laughing from start to finish. we will check with holly morris later in the show, 7:22 a.m. how did this small colorado town gett through tough economic times? freight rail. it attracted large eating over seventeen hundred jobs. then suppliers, stores, more companies followed, creating more jobs. economists call that the ripple effect. i call it the freight rail effect. freight rail connects every rner of america, bringing jobs and economic growth along for the ride. visit

greece's debt deal officials say attention in athens is shifting to politics and on how to kick start the troubled economy. the finance minister tells cnbc greece has been given a new starting point to try and restore its struggling economy. now greece is facing a new election in late april or in may and the two biggest parties are struggling in the polls. michelle caruso cabrera will be joining us with more on this story. >>> yes, she will be. i have brackets i have to do. >> march madness? >> they start tomorrow. >> i have to do mine, too. >> number one they should have won that acc tournament. >> that's right. >> florida state took that one. >> what is that mask? >> that just shows you how difficult -- looks like friday the 13th. >> yeah, yeah, yeah. >> what is that is this it's not hockey, right? >> but it's just like -- i don't know. silence of the lambs. yeah, yeah, yeah. >> beat duke badly last night. >> yes. >> see, that's why it's so hard. ohio state, they lost to hish mish. >> how about kentucky/vanderbilt? >> i saw that. and it's what college basketball -- >> xavier, the bopies bonnies. i watched so much basketball. i was watching xavier. they came in an

disaster prevention officials say they hope lots of people will use the new simulator to find out what extended ground motion feels like. >>> greece has a bailout. the eurozone finance minister said the conditions were now in place for greece to get $130 billion euro bailout. the crucial bond deal involves more than 50% cut in the value of greek government bonds, held by private investors. the eurozone finance minister said greece still needs to implement security measures and structural reform to rebuild fiscal health. >>> the unemployment situation in the united states has continued to improve. the u.s. gained more than 200,000 jobs last month for the third month in a row. the labor department says employers created 227,000 jobs. manufacturers added 31,000 jobs. the mining sector added 7,000. the job growth was in line with market expectations, but it fell short of january's increase of 284,000. the unemployment rate was unchanged. officials say unemployment is still too high, but don't expect it to come down very much in the near future. >>> for more on the u.s. unemployment data, we spoke with troy david, senior u.s. economist at barkley's capital. >> the curren