is there anything george osborne can do today?> i think the one thing he will be focusing on is the announcement about housing. we might see a rehashing of his pledges to cut corporation tax, raise minimum wage, to draw attention from the fact that he needs around 25% in day-to-day spending cuts, which you simply cannot get around. manus: these stocks have rocked all year. taylor wimpey up 4%. persimmon. these are builders in the u.k. the headline we are expecting is that he's going to encourage the building of 400,000 homes, helped change the rules on help to buy and encourage developers. economist, this country is so dependent on housing, isn't it? >> yes. 100%. manus: the chancellor is going to go down in history as possibly the biggest bubble creator in the world. >> i wouldn't call him a bubble creator. the u.k. has a chronic supply issue. the mistake with help to buy was that they had a demand solution to a supply issue. there is a supply side issue to deal with. from a purely political this -- political perspective, steadil

for angela osborn its.. osborn: august 23rd august 23rd.. the day her life changed forever.. osborn: we were involved in a car accident that took the lives of my husband of 18 years and our 10-year-old daughter the family of six planned to spend the sunday together in old sacramento when a driver lost control of her car and slammed into them on the alta arden expressway... angelas husband kc died on scene.. her daughter michelle passed away in the hospital.. osborn: its been really hard getting used to life without my husband and daughter the emotional and financial pressure of life without them was almost too much to handle.. osborn: if i didnt have any other kids i would probably be curled up in a ball in a corner somewhere but a friends idea to start a go fund me campaign for the family took angela out of that dark place.. in two months 881 people chipped in and donated more than 54-thousand dollars to the sacramento mom and her three kids.. shes put that money to good use... nats car starting osborn: i was able to buy a new car ive been able to keep utilities weve receive

times has al picture of osborne shaking a money tree. the takeaway was the osborne giveaways.ee giveaways cuts? >> what actually happens looking beneath the numbers is osborne was handed a huge windfall. they came on the back of tax receipts but also that interest payments -- but also that interest payments. he smoothed the past that's the path of department of spending. over the forecast. lower.ng a cumulatively he may have told the parliament that i am giving away all of his money but they handed him a huge windfall. before taking account of any policy, he was 27 billion pounds cumulatively better off. jonathan: do the projections turn out to be reality? we have seen borrowing tick higher. what may she think that is good to happen next year? dan: there has been weakness this year. they expect a little bit of a rebound this year. earnings are lower on the backend of the forecast. income tax is down. where the money's come from is modeling changes by the kobe are -- obr.e kobe are it is a bit of luck. jonathan: a bit of luck. marinov, this is a got -- keep yourarinov shorts on

at you go into this, what are you looking for from osborne? it may or may not happen, what will happen elsewhere? n: the spending review will come alongside the statement. it will flesh out details on how different departments will contribute on the deficit reduction plan. jonathan: where is the pain? dan: we know it want the in the nhs. that means other departments hits to the budget. local authorities, especially. expect them to take a big hit again. between 2010-2016 the budget were slashed by 15%. we expect them to be slashed by 30% over the coming four years. the other thing to look out for his tax credits. --ple may use recently they've come up against opposition on tax credits. he is likely to look to smoothie of limitation of those cuts. he will borrow it had more in the near term, but will want to bankroll savings in the back end of that surplus. have you witht to us. we will it over to westminster now where on edward to standing by with a guest. thanks, many perspectives were gathering this morning. he will deliver his autumn stateme

osborne's day today here in london. erik: there was arrested for european travel and leisure in the form of thomas cook, u.k. tour operator. what did it announce? mark: what a day it was good look at the share price move, up 10%. hopefully it will show in a second. it was the biggest performing stock in europe today. interesting comments. have been hit hard since the paris terror attacks 10 days ago. it announced a profit for the first time in 10 years and this is important. demand is holding up despite recent terror attacks. it said that the new fiscal year has got off to a good start with encouraging bookings for winter and summer. not only does it have to contend with of the paris terror attacks. you have the tunisia terror attacks. the metro jet flight, which came down over egypt as well. they decided tough year, along with the economic turbulence in greece as well. travel demand is holding up. that is something that travel and leisure industry is going to be very happy to hear about today. erik: i can imagine. mark

. >>> ozzy osborne says i'm sorry and a whole lot more. "early today" starts right now. good morning, it's friday everybody. thks for waking up with us i'm betty nguyen. so, then there were eight. the stage was set and it's shrinking for exinnext tuesday's debuilt a. there are two big names and personalities missing. new jersey governor chris to the so-called kids table debate. that's a blow after he saw a bump in numbers after the cnbc debate. and they're better off than these three. senator lindsey graham and gill more failed totoake theut for either contest. as for the frontrunners, their popularity was a determining factor in granting them secret service protection. the carson campaign is spending $150 thousand on a add across two cities. they're hoping this rap song will play well in what they're calling urban markets. meanwhile, on democratic side, hillary clinton was on jimmy bill clinton would be called if she won in 2016. the names first dude and first mate were floated and this interesting hypothetical. >> he's very popular still. it you were running against yo

george osborne is taking his case to germany. in berlin, the british people do not want to be part of it ever closer union. the political correspondent sonia o'donnell is on the line for the capital. the first question is, how does this advance britain's push for reform. does it all start from here? >> it gives us a better indication of what the demands are. none of them are particularly new but it sets priority. osborne is really pushing for non-eurozone members to be given equal protection and equal status. it is also this idea that he is looking for formal recognition that the european union has more than one currency. jon: the sticking points, there are so many. what would they be as osborne heads to germany and sits down with them? >> the sticking points remain. for his discussion with poland and other countries in eastern europe. the main issue is this idea of curving and work benefits which affect one of the keeper its bowl of the eu or freedom of movement. idea of eject thing -- ejecting is something more or less accepted

up next, we will talk about what george osborne is going to be saying in berlin. he is talking to european is this leaders. he is saying that the people of britain do not want closer ties. how is that going to go down? we are live in berlin next. ♪ guy: it is 6:17 in london. that means it is 7:17 in frankfurt and zÜrich. standard chartered is set to raise 3.3 billion pounds. the company says it will remove $15,000 by 2018. the bank announced a surprise $139 million first-quarter loss. analysts had expected a profit of $903 million. so a big swing. ubs reported higher than estimated net income, more than doubling year on you numbers. the swiss bank took a tax credit to set aside euro provisions for a legal probe. meanwhile, they postponed next year's probability -- profitability target. and the vw scandal is widening. regulators have ended their pro two include more models from regulatorsrsche -- have increased their probe to include more models from audi and porsche. blizzard -- activision-blizzard has agreed to buy king digital entertainment for about $1 billion

george osborne raises economic projections for next year.th will from the early production of 2.3%. he reiterated plans to bring the government finances back into in 2019 and 2020. big day for the chancellor, eric. i will see you in about 40 minutes. we will chat more about it then. erik: yes, i have a feeling we will be talking about mr. osborne at the european mark barton, he mentioned that european stocks are rising. abigail doolittle has the latest from the nasdaq. is especially true of tesla pictures are up significantly after credit suisse is that sank in early january former portuguese short-term concerns that have been plaguing the stock, namely iran fourth quarter volume concerns and model x production ramp, whether or not it will meet expectations. and analyst believes that the report will positively address both and he sees the company reaching 17,000 units in the fourth quarter and that the economy could earn four dollars in earnings per share in 2016, and that the free cash flow could be better than expected. stock is up about 4

the group was kicked out of osborn park where they had set up camp. osborn park is owned by the city, and has park hours that end at 10 at night... the group was told they were tresspassing and they needed to relocate kwwl's kristin rogers caught up with the group as they took a stand outside city hall. that's right. they were upset they said the park was their home and ttey consider each other family. (cg: donald wroblewski/ homeless) "where are we supposed to go now? we can't sleep on park benches, you understadn what i'm saying? you can't go up here and sleep on the bike trail, they'll kick leave after a ssries of complaints. the caa was also homeless) "that was to keep warm that night i believe, becauce that was right after we had all that rain." (cg: kristin rogers) "this is the park they were moved out of, the ark they called home." (cg: sean wilcoxx homeless) "that campsight was basically my home, granted it ws city property, they never messed with us before, i don't know why they of my home again." many people dropped off food as they proteste

i believe we heard charge -- george osborne getting ready.e going to take a short break. ♪ manus: welcome back to "the pulse." the big hitters are in town. mark carney has spoken. george osborne. they want your trust in financial institutions. let's listen in. >> it now turns out the insiders were writing the benchmark. we had a situation where for a variety of reasons, banking monopolies were throttling outsiders. banks said that they were well-capitalized and turned out not to be. regulators said they knew exactly what was going on and of course they did not. i think it is a sign of how far ,e've come that the country since the crash, that we can have this open conversation about what went wrong and how we want to fix it. i congratulate you. not just top people in finance chairs central bank, the -- manus: the bankers out there, you've heard it from george and a number of other people. in terms of the history and the past couple years, let's hear from francesco curto. forumg aside the open about regaining our trust, deliver returns and you

many are watching to see what george osborne announces.want to talk about the challenged banking sector, what are they looking for? is up this year, we're joined with cyrus ardalan. the corporation tax surcharge is something the government talks about in the summer. your sector does not like it. the challenged banking sector does not see why you should be subject to this extra tax. carl riccadonna -- : it is important to know why the bank levy was introduced. that tax is designed to try to compensate for they received from the government. the situation of that is different. today we have a highly concentrated banking system and the u.k.. five banks account for 90% of the deposits. policys a strong imperative to try and encourage the growth of new banks. anna: we know the make wants to see more challenge to banks. this is why this new surcharged is not apply to the smaller and the sector, like yourself. why is the sector angry? cyrus ardalan: it does have an impact. it's is a strong signal which is negative. we are trying to attract capital

anna: i thought it was interesting when we watched doors osborne on wednesday -- lost george osborne,g us a brighter forecast for the growth the u.k. economy, and it highlighted a diversion to pass that economies are on, or at least the momentum behind it. mr. franklin: that's right. you have to look very carefully at how these currencies are relating to each other, and implications. what's going on with the u.s. dollar and the fed, we are looking for interest rates to rise here until late next year and possibly 2017. it doesn't seem to be an issue. sterling is bouncing around between the dollar and the euro. we see some growth in all of that. anna: how much do you think mario draghi wishes he could wait to see what the fed does? chard: or does he think that he has first mover advantage? i'm not sure. i think he has a pretty firm ideas about what he wants to do. i think the timing before the fed is not material -- you will do what he wants to do. what the fed does will impact on i think he is prepared to do what he needs to do for his economy, and then react to the fed if you needs to

anna: george osborne had to back away from some of the plans he had around tax credits today.t expected by everybody? >> i don't think anybody expected the outcome we got today. times thatlenty of he's shown that he is someone who listens to the arguments. the same is true for the police funding. we have an absolute connection. no one expected that. i think that this is a good reflection on the chancellor's who will hear the argument. zac goldsmith speaking to me outside the houses of parliament. those are our top stories in the u.k. here are some more bloomberg top headlines this morning. the australian dollar dipped after business investment for the last quarter fell by the most on record. capital expenditure was down by 9.2%. the news may increase pressure on the rba for further rate cuts. the shanghai stock exchange is celebrating today, marking 25 years since its launch. it has gained more than 350 0% since then but it hasn't been a smooth ride. it was at the center of this year's $5 trillion equity rout. creditors of abengoa are facing tough choices, having to decide whe

told a group of homeless people they had to take down tents and vacate a piece of city property near osborn park. officers said they gave them about three days to pack up and leave because they were breaking the law. the homeless group was frustrated by the removal. they took their issues to the center of town - starting this protest at city hall, asking officials if they can't live by the park, where should they go? one member said there isn't enough room in area shelters. "where do you want us to go next. there's only 64-44 beds for me in this town, and if everyone wants to go to work and get help. where they gonna go? " the police department says it gave information to this group on monday morning. the packets included information on shelter resources, camping sites and counseling resources. police say with that information, they hope to get the people into permanent housing. so far, police have not removed anyone from the city hall steps. members of the homeless group say officers that have stopped by have been very kind and accommodatin g. they say they'll continue their protest for, "

pulse,e: next on the going back to george osborne.ple written do not close ties with the continent. how will that are down? we're live in berlin next. francine: welcome back to the pulse. here are some more headlines. activision has bought king digital entertainment. $1 billion more than the value yesterday. since julyllen 30% last year. the reserve bank of australia left rates unchanged. they open the door to cuts in the future. is outlook for inflation stronger. the us trillion dollar strengthened against the u.s. dollar. washington would be less likely to buy taxpayer-funded ls for banks in a future financial crisis. unsecured debtse ratings have been put on creditwatch. george osborne is taking his case for -- to germany. the british people do not want to be part of an ever closer union. hans nichols joins us from berlin. what are we expecting? hans: here are some demands. we will hear some flattery from the earnest chancellor. he's going to be making this case. there will be a need for closer integration. the u.k. does not want t

the city ordered them to leave a camp near osborn park after a report of a bonfire earlier this week. officers said they gave them about three days to pack up and leave because they were breaking the law. the removal frustrated the homeless group. they took their issues to the center of town, starting a protest and asking officials if they can't live by the park, where should they go when area shelters fill up. the protest has been a peaceful one. members say local police have stopped by and have been very kind and helpful. " they said we're not going to arrest you. you're here. we're not trying to wage war." the police department says it gave information to this group on monday morning. packets included details on shelter resources, camping sites and counseling resources. goodwin said he talk with the mayor today. he said they'll continue the protest for, "as long as it takes". it's another reasonably nice day across eastern iowa, but will it last... meteorologist justin gehrts has your first alert forecast, justin... clouds will continue to thicken during the afternoon, but rain wil

. >> fbi agent sent the day edgar hoover was going to dallas and assigned to melina osborn. >> yeah.wiehl's father a retired agent giving us stuff he told no one ever. how helpful was that? >> it was great. you dsaw the interview. he talked to you as if he was talking to a close friend. he confided in you. it was all of the little inside baseball all of the extra judge et information. it was finding the extra little nuggets and details and it added layers to it. >> that was the key to that? >> not only did he tell us what his experience was, but he was able to tell us how the fbi did the investigation in total in dallas and the pressure is on them and what was said and what was put out there. little by little we knocked out all of the conspiracy theories. we de bunked them because we were doing the straight on narrative about here is oswald here's what happened are you surprised about what we found out in killing kennedy? >> i was surprised we were able to streamline in a way that we didn't have to panneder to all of the conspiracy theorists. we put the facts in there and let the fac

george osborne is alarmed and following the attacks in paris. that includes better services to find the islamic state. >> for radicalization and operational planning. they do not yet have that capability. as well as the threat of the guns and their bombs and their knives. >> intelligence services are set to have 500 more staff in the coming years. anonymous is also declared war on the islamic state. they are flagging accounts on twitter and handing over data to u.s. agencies. it is an unusual alliance considering that until now, anonymous has battled against government authorities. governments are also trying to cripple its finances. it uses an ancient payment system. this is an example of how it works in everyday business. >> it puts them in a precarious position. the buyers using network of money brokers. and because it doesn't go through the regular channels, the payments dodge taxes. the equivalent of billions of euros. a buyer gives the money to a local broker. they then contact a middleman close to the seller. this second one pays the sell

night sleeping and protesting outside city hall after police had ordered them to leave a camp near osborn park. but this afternoon the people met with mayor ron corbett. kcrg t-v nine's brea love was at that meeting. brea, what is the city planning to do? when mayor corbett heard the protesters wanted to talk this morning, he made time in his schedule for a sit down meeting. after a hour long conversation an idea was brought to the table, and put into action. the homeless have now moved from their post at city hall's steps and found space at morgan creek park. the meeting featured a dozen men and women sharing their stories, and allowing the mayor to ask questions to better understand. some spoke of substance abuse, others talked about mistakes in their past, but all of them say they're on the right track. mayor corbett invited local resources to the meeting, but wanted to give the homeless a chance to voice their concerns. "that is important to make sure there are connections. really my goal today was to listen and learn a little bit, but try to understand every story is a little differe

told a group of homeless people they had to take down tents and vacate a piece of city property near osborn park. officers said they gave them about three days to pack up and leave because they were breaking the law. the homeless group was frustrated by the removal. they took their issues to the center of town - starting this protest at city hall, asking officials if they can't live by the park, where should they go? one member said there isn't enough room in area shelters. "where do you want us to go next. there's only 64-44 beds for me in this town, and if everyone wants to go to work and get help. where they gonna go? " the police department says it gave information to this group the packets included information on shelter resources, camping sites and counseling resources. police say with that information, they hope to get the people into permanent housing. so far, police have not removed anyone from the city hall steps. members of the homeless group say officers that have stopped by have been very kind and accommodatin g. they say they'll continue their protest for, "as long as it takes

meeting, and they voiced their ongoing frustration over the city kicking them out of a camp near osborn park, after a report of a bonfire earlier last week. one man asked organizers, "where are the people who were displaced now?" trepp admitted that is something area agencies that serve theeomeless are still working to address. she says right now, they want to focus on getting people off the streets when the weather is at its worst this winter. live in cedar rapids, brady iowa city is still looking for a location for an overflow emergency homeless shelter for this coming winter. this is video from last winter when homeless people were able tt stay overnight in an old groceryy store on south gilbert street. that building is still vacant, but the owners would like to sell it. the shelter was open to homeless people who didn't fit the criteria for staying at iowa city's shelter house. meteorologist joe winters joins us now with our first alert forecast. joe, it was a pretty nice day outside today, will that continue tonight? clouds increase as an area of low pressure strengthens. scattered

osborn park is a city park, therefore closes at 10pm. a series of complaints and a large bon fire led to them being kicked out. a fire they say w`s homeless) "that was to keep warm ttt night i belleve that wet, their blankets got wet, so how do you keep warm?" for hours they held signs and encouraged cars to honk for their cause many people stopped by to drop off food for them. the group, later meeting with the mayor who listened to their complaints. the mayor asking them about whether they were willing to work and if they wanted a more permenent solution than a camp. the group we'vegot you covered in cedar raps, kristin rogers ...kwwl news. we a a told the city is working to find a camp ground where this group can stay for now, but that is still up in the air. the group claims they can't get jobs because they do not have i.d's or addresses. coming up... how many british tourists are stuck in egypt - after britains prime minister puts a bans on flights following a crash in the area... and... george hw bush is coming out against members o

"bloomberg surveillance." ♪ francine: it may be the word that george osborne is thinking of. optimists. vonnie: a brazilian billionaire is under arrest. into the largest investment bank in brazil. scheme involving builders and a government owned oil company. nsa ision says lufthaft ton easing its stance on pensions. itscompany is being hurt by dependence on personal computers. they became separate companies this month. that is our latest bloomberg business flash. tom: and it happened. vonnie: we all know that you will probably standing by a computer, if you are not at the montreal game at madison square garden. .i. blackot the b friday preview. amazon it's rolling out its one-hour prime delivery to more and more areas this year. we thought we would have a non--- a look at the underlying dynamics. this is the weather heads up tool. and look at the el niÑo effect. tom: it is very important that we subconsciously on "bloomberg surveillance" identify the weather pattern here. rangers-canadiens tickets. retailers, not just rei, are closing tomorrow. closed on thanksgiving. gamesto

i have to say there are plenty of times where george osborne, he has come under the argument.is what you want in a chancellor. absolute budget surplus. no one expected that. we got a whole lot. and i think this is a good reflection on the chancellor to hear the argument. i think that he is afraid of performing. anna: chris is still with us. let's talk about the u.k. it seems the government is moving a little more towards tax hiking, rather than cost-cutting to maintain that commitment to the budget surplus at the end of the parliament. chris: some quite swift changing of clothing yesterday from the chancellor. and as you rightly say, more of the budget being placed more by tax rises and another move on the corporate sector, particularly with the 3 billion pounds being raised from the apprenticeship levy. i think that will be possibly the biggest gamble. which osborne is taking here, this follows hot on the heels of the national living wage announcement. so they are bearing down the cost of employment. which companies have to bear, and we do not know what the effects will be on

osborne on cyber security and cyber terror, and of course the news out of paris.d some jon ferro is with us with the morning must-read. jon: a you have the echo tire jonathan ferro. i'm straight off a flight from frankfurt, germany. jonathan ferro. i am straight off a flight from frankfurt, germany. inflation expectations, they might de-anchor. what we have seen recently is that the signs of a turning point in underlying inflation, measures of underlying inflation, the signs of a turning point have weakened a little bit. we have to look at that. so there are a number of things that we are going to look at. ,t is not only looking at pmi confidence indicators only. it will be more holistic. i think the narc it's -- i think the markets know what i mean. see in the reaction in the euro, with the bond market as well. let me take you inside the ecb. it is not the headline installation number, it is the inflation expectation. the longer we stay down at zero, the increasing likelihood that lower inflation becomes embedded into the economy. that is a big issue for them at

just want to tell you that george osborne is now speaking. he says the bank of england will develop for challenger banks and is also talking about his discussions with the indian prime minister on how to develop offshore indian bonds. so as soon as we get more information from that we'll bring it to you of course. 15,000 are meeting this week. they're hoping to raise capital to develop their business and we sent nancy there. you have a very interesting guest waiting in the wings. >> that's right carolyn. i have one of the top tech investors in europe. that's the co-founder of skype but also ceo and co-founder looking to help and build this funding gap and capital gap and help support these firms in europe as european tech looks to take on competition from the west coast in california and also from china. so joining me now, thank you for being here. i want to talk about this report looking at the state of european tech. the companies have proven that they can reach that 1 billion mark but what does europe need to do to get more companies into

also i want to mention i spoke to sharon osborne about a report that accused her of having new and sharon responded as only sharon can. tell us what you really t sharon? she fights back at the daily mail's face shaming of her, "years of botox appeared to have taken toll." what bothered you about that article? >> it was obvious "newsday." they needed to fill space. there was a silly picture. >> sharon admitted to having several cosmetic procedures over the years but n recently. >> it's like sorryguys. no. it's still me. >> the description sharon objected to the was that her complexion looked mysteriously smooth and notably puffy. >> i don't pay all this money to stay >> the word puffy, how dare they say i lookedpuffy? but, no, it's just silliness. you you can't take it seriously. >> you and kelly were on the carpet together. you said kelly was happy it wasn't her on there. >> oh, yes. she called in the morning and she said i'm glad you got it. they left me alone. >> it. sharon looks great. end it now. >> coming up, adam levine super model wife prepping for her victoria secret fashion show.

told a group of homeless people they had to take down tents and vacate a piece of city property near osborn park. officers said they gave them about three days to pack up and leave because they were breaking the law. the homeless group was frustrated by the removal. they took their issues to the center of town - starting this protest at city hall. one member of the group says he hopes to get a chance to talk with the mayor: " i hope so, i hope he does invite me in his office and ask him questions and we'll work together. " the police department says it gave information to this group on monday morning. they included information on shelter resources, camping sites and counseling resources. police say with that information, they hope to get the people into permanent housing. so far, police have not removed anyone from the city hall steps. members of the homeless group say officers that have stopped by have been very kind and accommodatin g. they say they'll continue their protest for, "as long as it takes". in cedar rapids, forrest saunders, kcrg-tv9 news. a woman is at university of iowa hosp

george osborne doing a meaningful job of restricting things. how much of your job is to balance that? is we go to put it central bank. the bank of england. i can aggrandize and -- this will policy move slowly. it's in place will have certain impacts. and then we try to achieve our goals. is only in extreme circumstances. one central banks should ever way and on fiscal policy. the fiscal when policy actually threaten the ability of the central bank to achieve its objectives. that's certainly not the case in the u.k.. >> one other thing which worries outside investors a lot is the prospect of a grexit. there's limited on what you can say about that but it's what's the thing that worries you most about it? what you think would hurt the financial side of britain if that would happen? i think this is another case where we take it as a gift. uk's member of the european union. >> we do have to do contingency planning. this is an example. are doing that. we will never disclose or contingency plans in advance. we only disclose them once the issue is pas

delano: george osborne's spending review was done under a purely conservative government for the firstme since the 1990's. he didn't backtrack on a series of controversial cuts that would have left over -- heated backtrack -- he did backtrack on a series of controversial cuts that would have left over 3 poverty.amilies in representations that these changes to tax credits should be phased in. i have listened to the concerns. i hear and understand them. and because i've been able to announce today an improvement in the public finances, the simplest thing to do is not to phase these changes in, but to avoid them altogether. let's get a check on the markets. in the u.k., the reaction to the finance minister's statement pushed the ftse up 1% at the close, but the real gainers were the dax in frank for, well up over 2%, similar to the cac 40, up over 1.5%. the major indices in the u.s. trading in the green. the nasdaq is up two/10 of 1% -- up 2/10 of 1%. volkswagen has released a plan to bring its diesel cars in line with european regulations. the scandal-hit german carmaker released a video

in any case, when progressive penal reform or thomas osborne day,ted the prisons of his he pointed to none other than the auburn prison which loomed over his hometown in new york like a medieval dungeon, where he spent a voluntary week to study conditions as a prisoner. osborne pointed to auburn as the preeminent example of a cool system that did more to brutalize and hardened prisoners and to reform or rehabilitate. the previous generation's reform was the next generation's example of brutality. the 19th century south lagged behind the north in penal in the -- innovation. many of the people normally subject to the penal discipline of the state were instead disciplined by their masters. they were slaves. emancipation in 1965 change that, thrilling 4 million new citizens into the labor market potentially the critical -- terminal justice system. many whites in the south turn to the shares badge and judges gavel. the south was poor. there was no money to open or build new prisons so the solution was to release the prisoners out to the highest bid der, having them make railroads and brick

attorney, anthony osborn said. and while police and university disagree on how the case was handled both just want the same thing .... a safe community. and speaking with both parties today the problem really seemed to be that luckily these federal laws often reffered to as title nine rarely occur so knowing how to handle them can be an issue. the university and vermillion police pledged to improve communication and make it easier for everybody to avoid conflicts like the one we just saw. reporting in studio lukas voss abc9 news. tim on cam fresh off tuesday's gop debate carly fiorina is back in iowa... and she's being asked to clarify comments made in milwaukee on tuesday. fiorina met up with about 100 folks at the onawa library this morning. it's the first of 5 stops in western iowa. fiorina's husband "frank" is joining his wife on the campaign trail. it's the first time he's made a western iowa appearance. fiorina took several questions during the hour long event, including how she plans to hold washington accou

george osborne doing a meaningful job in terms of restricting things. how much do you see your job to balance that with monetary policy? >> the way i would put it is the job of the central bank, particularly the bank of england, is we take fiscal policy as a given. i can grant eyes -- i can aggrandize, the fact is physical -- fiscal policy moves slowly. there is a medium-term fiscal plan in place. it will have certain impacts on the economy. we try to achieve our inflation target given that. it really is only in extreme circumstances that a central bank should ever weigh in on fiscal policy. that is only when the stance of fiscal policy threatens the ability of the central bank to achieve its objectives of financial stability, which is certainly not the case in u.k. >> one other thing that worries outside investors a lot is the prospect of a grexit -- brexit. when you look at it, is the thing that worries you most about that? what is the particular thing you think would hurt the financial side of britain and what would you try to stop if that were to ha

george osborne is making his case and taking it to germany.ll push for closer integration that has caused strain between european nations. david cameron has promised there will be a referendum in the year by the end of 2017. the german prime minister will try to avoid a revolt over refugees. he is refusing to give in to pressure to close borders in the middle of the biggest refugee crisis since world war ii. germany will take in as many as one million people this year. the u.s. stop the flow of millions of dollars to iraq this summer. all of this is according to the wall street journal. the dollars are flowing again after the iraqi officials agreed to put in tighter officials. volkswagen is cooperating with thecials over saying environmental protection agency says that those with larger also cheated, the w is rejecting those claims. tom: thank you so much. here is the pop quiz. where is the risk free rate? everything centers off its anchor of the risk-free rate. i don't know where it is. hans redeker doesn't know where it is. hans, i have neve

. >> george osborne doing a meaningful job in terms of restricting things. how much do you see your job to balance that with monetary policy? >> the way i would put it is the job of the central bank, particularly the bank of england, is we take fiscal policy as a given. i can aggrandize, but the fact is fiscal policy moves slowly. there is a medium-term fiscal plan in place. it will have certain impacts on the economy. we try to achieve our inflation target given that. it really is only in extreme circumstances that a central bank should ever weigh in on fiscal policy. that is only when the stance of fiscal policy threatens the ability of the central bank to achieve its objectives of financial stability, which is certainly not the case in u.k. >> one other thing that worries outside investors a lot is the prospect of a brexit. when you look at it, is the thing that worries you most about that? what is the particular thing you think would hurt the financial side of britain and what would you try to stop if that were to happen? >> i think this is another case

social care, policing and education are all thought likely to be factors but george osborne is expected to announce a increase in the british government's spending on housing. the idea is to increase the supply of affordable homes through incentives for builders among other measures. details set to be aannounced in the next half-hour in the parliament in westminister. jamie: what's been happening in the markets so far's stephen: the ftse 100 ahead of the announcement by the british prime minister is trading up by almost 1%. the trade is reporting a bit of a quieter time in the markets ahead of the thanksgiving holiday in the united states. shares of airlines and hotel groups are bouncing back after the falls we've seen in recent days in the wake of the travel warning coming from the united states and course the situation in belgium. jamie: people living in countries that use the euro like in france will see something new and shiny in their pockets tell us about that. stephen: the euro 20 bank note goes in circulation and will protect against fraud with a new portrait window of europa fr