petro poroshenko of ukraine.rench, whichthis the president of ukraine has gone indicate pitch -- has gone indication that it could come soon. davos francine lacqua in speaking with the president of ukraine. coming up later this afternoon, george soros speaks with francine lacqua as well. right here on bloomberg at 2:30 p.m., eastern time. do not miss that interview. ♪ betty: welcome back to bloomberg markets. it is time for the bloomberg business splash. as a prize in the labor market last week area and claims for unemployment benefits up to a six-month high. they climbed by 10,000 to 293,000. plunging oil prices may lead to more job cuts in the energy sector. cadillac named for a michigan city, will soon roll out of a factory far from the u.s. general motors opened a factory that will build luxury cars in china. the facility will turn out 165 sedans a year. more as theio has markets are slightly rallying right now. things could change but you will get to transport. ramy: looking at airlines first. last i checked

besides the people collecting your signature, some some bay area mother's helped push medical and renee petro both have children suffering from debilitating diseases and they've used cannabis to ease their children's suffering. the moms you just heard from-- both of them at one point moved to different states to get their kids cannabis treatment. here's what i'm working on right now-- what does this mean for you, regardless if you support this idea, the next time you go to the grocery store or the dmv. i'll have that at 6:00. sarah hollenbeck, 10news wtsp a health alert this morning if you're trying to lose a few pounds. eating lots of apples, berries and onions may help keep your weight in check. those are some of the fruits and vegetables with high levels of a natural compound called flavonoids. a study in the british medical journal finds that people who eat more flavonoids report listen to this story. a saint pete couple says a police officer is their hero. he saved them after a man took their credit card and ran off. it happened wednesday afternoon at the shell gas station on fifth avenu

petro poroshenko: one of the most active sanctions, including financial ones, others, but the purpose be the most harmful to the russians, not at all. we just want to create the motivation. please, stop the aggression. please, stop the fire. please, stimulate the settlement of the agreement in the economic, social, humanitarian, and other spheres. we have an obligation what is necessary to do. ryan: i'm on my way to st. petersburg, where the russian president holds his annual forum. it will take place later this week. he effectively encourages business leaders to come there and pitch investment in russia. what would you say to the investors and business leaders that will gather in st. petersburg that are coming from outside? do you think they should stay away from russia? is that your advice to them? petro poroshenko: everybody should undertake the steps, which depending on them, to share the values which they believe. ukraine fighting here not just for the money, for the salaries, they are fighting for values. european values. i am very pleased that the people of the whole world are

petrodollars becoming petro pennies. and they are shrinking. let's look where we are , petrodollars become petro pennies. i said make me to charts on oil. this is the short-term chart, g chart, and you can see the speed from the beginning of the year, the rate of change 30n, and the drama below yesterday. mcphee ofjohn princeton university. on to the next chart. , not back to 2000. the most recent was january 1989. dverybody is adjusting, an even you in the yield adjusting. alberto: energy is 18% of the high-yield market, but were seeing defaults could spread outside the energy second -- sector. many companies are linked to the energy sector. 10%?18%, plus minimum alberto: in total, the sectors energy 18%,re , sofacturing 5%, retail 5% roughly 20%, almost a third of the high yield market. tom: do you need catharsis to get through this? alberto: you need more market repricing in assets, u.s. high-yield, some more default in the u.s. high-yield market. to 5% or go around more this year. tom: of course the focus on oil is in texas. kaplan is the n

opposition protesters throw petro bombs over a deal with serbia. back behind bars. mexico's top drug lord is found. and lottery sales soar as the jackpot hits $800 million. >> hello, thank you for joining us. aid agencies are in a workplace against time to get vital food and medicine to besieged towns in syria where tens of thousands of people are starving. as went sets in families have been burning furniture for warmth and resorting to eating leaves and cats and dogs. 42,000 people have been cut off since july but ours say an agreement has been reached with the government for aid to be delivered there on monday. in return aid will be allowed in two opposition held villages in the north. the vie success has calls caused an international outcry after pictures of emaciated people emerge. >> april 1 january 1, 2016, what is your name? >> nua. >> when was the last time you ate food. >> four days. >> what did you take from the hospital? >> salt. >> they are hopeful that aid will be delivered soon. >> we hope that we would have the first aid trucks carrying food for the p

but in the short term, at least, for consumers they are buying petro at about $2 a gallon or less. that's about half the price it was like a year ago or so, home heating oil, which many people here use, you can say hundreds of dollars a year, with the prices being where they are. so in the short term, it is not necessarily a bad thing, but if these oil prices rock it here and the starts to reverberate then you can have problems with the global economy being set back indeed, thank you very much indeed. >> warning the passport free agreement could collapse in the next few months e.u. governments havei. has slowed the flow of my grants and certainly not stopped it, agrees reported 100,000 new arrivals in december alone. further north, now courting sub freezing temperatures. barnabie phillips reports. >> many people thought they would stop coming once winter arrives but they haven't. the steady flow of refugees make their way across the border. into southern serbia. snow and ice has not stopped them, some say they have suffered tragedies along the way. >> i have lost my father, and als

. >> fire broke out at kosovo's government headquarters after opposition protesters through petro bombst the building. the fire, which has now bin put out, started as several thousand demonstrators gathered announce a deal. >> deal gives kosovo's serb minority greater local powers and the possibility of financing from belgrade. kosovo declared independence from serbia in 2008. steffen garnovich says there has been escalating tension since last year. >>reporter: >> they're thinking the serbian stacks will be back at the back door telephone with the local authorities connected to serbia, it will be something like a joint community here in serbia connected to bellgrade. they are fearing that some past times will come back. but they are saying many of the brussels agreements are okay with them. but they are saying the association of the serbian majority here in kosovo will just cause more tension between the citizens of kosovo. it's not only that. they are saying that this government is not working well. they are saying that they will not give up until the prime minister of kosovo resinings

a lot of concerns by investors for its petro chemical group operations in saudi arabia. the share prices actually fell to three-month lows. now, we did see the yen also weakening against the dollar but that really didn't help with exporters too much. again, we were tracking some of the big global names there, casio computer, isuzu, as well as nintendo. all trading down. investors look to have really bounced back a little bit from that initial sell-off that we saw on monday. and a little bit less volatility this tuesday. i'm ramin mel gaarde at the tokyo stock exchange. >> thank you. >>> "newsline" is airing a five-part series about the economic outlook for major countries. today we focus on the world's second largest economy, china. we asked an expert what he expects in 2016. >> very nice to meet you. >> thank you. >> reporter: this is dean of the asian development bank institute. he first went to china in 1991 to promote policies for growth. since then he's seen the economy shoot up and slow down. what kind of year are you expecting for china in 2016. >> i think it's 5%

the unknown winner bought the ticket from piedednt petro corner mart, on locust hill road. the winner has 180 days from the date of the drawing to take home the money. gabrielle: now to a movement to encourage people in greenville to use solar power. the upstate solar tour was announced in greenville. people are invited to biz -- visit places where solar power are already used. officials with smartpower and solarize south carolina say, solar power is affordable and accessible. >> when solar is installed, you can offset your energy use in your home with the energy that solar on your roof. and so, a person can save money on their own utility bills. gabrielle: the event will be held on from noon to 4:00. saturday,they invite you to visit their website to learn more. nigel: coming up, the republican party is cutting ties with the nbc network for their next national debate. we will tell you more about that move. gabrielle: plus, two major stars have announced they are boycotting this year's academy awards ceremony. >> we could not be more excited. nigel: a groundbreaking day bri

the palmetto cash five player bought a ticket from piedmon petro corner mart on locust hill road in taylors. the winner matched all five numbers drawn to win the $100,000 top prize. the winning numbers are on the right there on the screen at the bottom. the winner has 180 days from the date of the drawing to claim the prize. good luck. if you know a member of the military who is engaged, there is an opportunity for him or her to have a dream wedding for free. upstate warrior solution will historic wilkins house in greenville. right now, the house is still being renovated. the wedding will take place july on sunday, july 3. the flowers, food, music, dress will all be provided by local vendors as a way to say than you. to be eligible, applicantst be post-9/11 combat veterans who were honorably discharged, and they need to have been engaged before january 1 of this year. to apply, we've posted a link in the story on wyff4.com. panthers fans can still get their hands on tickets to sunday's nfc championship game, but the tickets might be costly. according to ticketmaster , many tickets were bein

there are places where it might make sense to talk about a petro there areuse countries that are closelyto the european cycle. they are big oil exporters. is happening is the eurozone is the world's largest oil importer. joe: are we talking about russia? >> exactly. that is where the geopolitics come in. our call is that what we will see is an easing in eu sanctions relative to u.s. sanctions in the second quarter of this year. that potentially creates an opportunity for russian corporations to replace dollar-denominated debt with euro-denominated debt. companies are then able to borrow more in yuan, doesn't that add to china's growing debt? china is off the charts. i think it will not happen the same way as the euro. something muchin closer than the europeans. internationalization will take the foreshadowing of other currencies in the region. , otherepreciates countries are more likely to the currencies depreciation and order to preserve trade competitiveness, creating an ankle for the role for-- an anchor the currency in asia. internationalization of debt channels will take much longer

saying their scout leader was near a cave when a black bear grabbed petro anyone know by the leg and pulled him inside. >> at first i thought he was joking but then i heard him call the bear and i called 911. so, i called 911. >> reporter: instead of panicking, their boy scout training kicked in. >> the main thing to do was just to stay calm. >> reporter: calling 911. >> he's bleeding from his neck, his arm and his head. >> reporter: and coming up with a plan to help rescuers find them deep in the woods. >> do you want us to make a signal fire? >> yeah, if you guys could start a fire. >> that fire and petro anyone know's barking scaring the bear off. rescuers arriving soon after, airlifting their scout leader to the hospital. >> it was very scary, yeah. >> reporter: so scary, they feared the worst. >> if we don't make it out of this alive, i love you guys. >> reporter: and they did make it out along with petroanyone know who took to heart their oath to help people at all times. >> i felt like a hero because i saved someone. we saved somebody's life. >> reporter: marci gonzalez, abc n

petro china is one of the big names that is being sold off. the central bank allow the to depreciate with no sign of a pickup in the economy. fallen totokyo have their lowest levels since september. oil exporters and machinery 33cks led declines among the industry groups all of which fell. volume is 24% above the 30 day average. this asian benchmark is that a three-year low. oil is under pressure again as u.s. crude stockpiles expanded and iran moved closer to lifting the sanctions. has followed to wti into rarely seen territory falling below $30 a barrel for nearly 12time in years. sanctions against tehran may be listed as early as monday. yet more oil into a glutted market. breaking out of south korea. thebank of korea says economy is expected to grow only 3% this year compared to a previous forecast of 3.2% growth. the bank of korea just lowering their growth forecast. to rise justpected 1.4% in 2016. compared to a previous forecast of 1.7%. all of this coming after the bank of korea left its rate unchanged this morning. juliet: it has been

property names under pressure in hong kong, petro china.ing decline or when it comes to tokyo stocks under pressure. we are seeingen, it really ramping up as it looks like a safe haven. up .4%. we are seeing gains when it comes to gold as well. metal.for the precious in contrast, we are seeing exporter currencies coming under pressure. .3%.ussie is off by trading at .68. rishaad: breaking news coming in on your screen in red. the nikkei 225 has declined by 20%. when that happens, that technically means we are in a bear market. we will be if we maintain this loss until the close. they just opened for the lunch break. let's get to one of our other top stories. talks are expected to be dominated by a deteriorating outlook for the global economy. we have a water house price survey of the pboc. they are not enamored by their prospects? 's tends to be more optimistic about their own business. when you get a group of them saying they do not see the economy improving over the next bearsths, it really attention. saying, percentage compared to this t

petro china seen a crack there, rising 5% on both of those -- there,hina sea right rising 5% on both of those. the china morning post says they might be scaling back on expansion plans, citing labor disputes. sources-- china resources is the biggest loser here. cuts tok, it was the underperform for macquarie. after the sales data came out last week, it was mixing estimates. fall at 5.8%.e to japan tobacco, this one is a gain on the nikkei. they will be raising prices of certain brands of cigarettes. pack, potential rates on april 1. they're rising 5.6%. biadud: coming up later, is in the race-- baidu is in the race to make a self driving car. and, the new decision from the federal reserve and the bank of japan. "asia edge" back in two minutes. >> these of the headlines from around the world. 20 people have died in the blizzards that have paralyzed the eastern united states. many saw three feet of snow, and central park in new york at its biggest 44 hour snowfall on record. canceledway shows were for the first time since superstorm sandy in 2012. east coast airports resume normal serv

petro china leading gains in the sector, up by two and 6/10 of 1%.ore on the figures, youw gdp have had time to look at it in more detail. what does look like behind the numbers? >> a soft reading. the economy was struggling going into the latter end of last year. undoubtedly a disappointment after the initiatives that have taken. the silver lining, the services sector is holding up pretty well . the consumption side is holding up pretty well. not a bad result considering there was a stock market rising in china last year that raised $5 trillion in value. on paper. but even with the negative sentiment, as consumers consider -- continue to spend. the problem is, the transition is not happening fast enough and consumption services side of things is not enough to fill the hole left by oil growth drivers like manufacturing. rishaad: what happens next? this is the only country that produces its target for growth in the beginning of the year. we might look at the end of the year. it is consistent. there is an argument that they should drop the gdp altogeth

attorney petro. >>he's ndothat ts woman s lying. i ntuto e crimsce anshe coulnopossibly have seenhat she said occurre >> so what couldiriarely see? here'she problem with miriam stor from tt liceideo, we know this iere the cab came to rest we also know the shooting happened a couple of car lengths back, sort of where that red s is. we know a man in that building call 911 whehe heard the d he saihe sy pewafr ri tar corrd.liinhaildi ove now u'reking ame frooutside the window miriam id e saw all of ts haen. this has to be eily 100 rds away. d she says she saw six people from the neighboood mmit the cre. e says she heard what they said and she saw what they stole.and she id sheawll of it looking through this bathr window. e ly problem is, iyo o the pet'pr miamt seen anhing at l. s sd from the bathroo wiowheeard tse conversations gog inside the car. i me, 's just incredible imony. >> but what distbed cross even more detective donnelly never okt the crimscene from thrspecte you st did dn't that so of be andard oratingcedure to check ouat w

it will not just be refineries, there will be several ports and petro companies, making this one of thest complexes of its kind in the world. construction is at full swing at other sites in the complex. sanctions against iran held the project up but they never stopped the development, says the project director of one facility. >> we have found a solution for each problem we faced. regarding the sanctions. but you can see that in the five years, it will be more than five years, we have built this big plant. this is $4.5 billion worth of a project. >> reporter: now that most sanctions have been lifted those in charge of the mega complex want to accelerate construction, even though the managing director says it will continue to rely mostly on iranian suppliers. >> we have more than 65, more about 70, the iranians did the local manufacturing, for example, cables for the valves, for the vessel, the tank, for the machine. >> reporter: iran is poised to become one of the biggest exporters of oil and gas in the world. now that most of the sanctions against tehran have been lifted. the south gas

opposition protesters throw petro bombs over a deal with serbia. back behind

this is more than petro economics. about thert of sectarian tensions in the region.sus shia. that is the overarching theme as we head into 2016. david: if you were to distill the message from opec, and overhang to do something about it? i think there is a desire for a collective solution. saudi does not do anyone any favors anytime soon. companies you the are looking at in particular? vincent: we think about four q earnings season, it is less about or you and also about 2016. we look at two basins in particular, the permian and appellation. oil, appellation for gas. we're looking for names like pioneer. what they have to say. it has been much more resilient in terms of the ability to produce. cap x, down significantly but output for 2016 could be fairly resilient. mind also one to keep in for natural gas. they will elect the cut 40%. and yet output for 2016 will likely be higher, likely between 15 and 80%. david: thank you so much. looking of earnings, let's at the second biggest oilfield service, halliburton. the company posted a first-quarter net loss of $21 millio

head, if they did this in an international stock exchange, it would be negative for companies like petroher big national old companies that are listed. that would churn into saudi aramco until they realize. reallocated. joe: what does this say about saudi arabia's position that they are floating the idea of spinning off part of it? we know they are bleeding a lot of cash because of the low oil prices. but does it mean they think oil will not come back? liam: i think there are a couple of ways of looking at it. one is bullish and the other is bearish. saudi arabiane, has a new king. it has a reshuffled in the top ranks. it is really interesting to see the very secretive and monarchy talking about this radical move. i think it talks to how much pressure is on the country in terms of its finances, its military position, its relationship with the u.s., you name it. one parallel i was thinking about today is there was a big country in the 1980's that was hit while old price -- by a low oil price and that was the soviet union. i'm not saying that will happen to saudi arabia but it looks quite

that is petro poroshenko of ukraine right here from davos, switzerland.o you have to hear what he has to say about donald trump and certainly what's happening in russia. closing bell ringing in 19 minutes. today's laggards, no surprise the oil names here, integrated oil names, chevron and exxonmobil and, of course, the material names, dupont, cat pillar and apple which is a surprise here. dow jones industrials gang 21 points, the s&p clinging to half a point of gains here. up next, charlie gasparino in the tend in davos, switzerland. he will delve into the bank earnings we got this morning. bank of america and morgan stanley beating the street, both ceos expected to be on the ground in davos. charlie breaks it next from davos, switzerland. you pay your car insurance premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could

we talked to petro when count down to the closing bell comes right back. what he looks forward to when it comes to crimea as well. live from the world economic forum in davos, switzerland. fox means business you pay your car insurance premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. liz: the obama administration taking some steps to try to prevent another ter

>>reporter: nation's first true in the petro and i will define a weekend press to canada is to get out the message she closed the with the rally featuring her to biggest supporters husband of former president bill clinton and daughter chelsea and the controversy continues on the campaign trail the state department said it will not release 22 females because it contained top-secret information. >>gary: umbrella on the traffic here in san francisco carolina and the denver broncos are coming to town will talk about the latest rumor that the raiders made the san diego oakland. oakland. o don't? oakland. so iike. i geall my eens ani trnot fai. is..i cado eily. benefir hethy ape. just a coue ofpoonls ery day ans wer avin. pl, it allatur, clr, tastfreend ssols colete. it clicall pren tkeepe fuer lger d helpkeepe healy inde a out beneber althshap th, i n do find benefer hlthyshapin t fib. >>gary: this upcoming season the raiders will be in oakland san diego is going to be in the chargers in san diego the story came of the charges on a dean said it will probably wait one year before we move to

near by are 5 more petro chemical plans. poor author is on the receiving in pipeline, cutting through east texas communities when operational in january 2014. but the industry had brought a few jobs to west port author where unemployment was over 15%. many workers commute to the plants and economic development has moved north since the 80's along with white flight to mid-county areas where you'll find a sudden explosion of malls, big-box stores, hotels and theme restaurants with busy parking lots. yet the economic abandonment of the downtown area in west port author and the shadow of one of the profitable industries isn't even the whole story. there's also the pollution. .. as much as he can he documents the event with photos and videos. some times it is really pension to the point it stings the nose and eyes. there is the constant day-to-day toxic menace in the air. it is not always what you see. it is what you don't see. a lot of these gases are very dangerous, sometimes newcomers will smell it and you can't because we are

continue the discussion tomorrow with former british prime minister tony blair, ukrainian president petrooroshenko who is furious at the russians and nasdaq chief operating officer adena friedman and stephen pagliuca. stay tuned. we've got see how this one ends! ♪ there's no one road out there. no one surface... no one speed... no one way of driving on each and every road. but there is one car that can conquer them all. the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in... and the road you're on. the 2016 c-class. lease the c300 for $399 a month at your local mercedes-benz dealer. . liz: coming up on 26 minutes before the closing bell rings, and we're checking these markets. we're going commercial free from now until the top of the hour. down 143 points, the dow was down more than 565 points. to the new york stock exchange floor, bringing in doreen who has decades of experience. i need ask you, i need a pointed reason as to why we now see green on the screen in the bulls are thrilled but what are you seeing

he thought it would be in shell, and now we are seeing some more, with petro taking a stake.oing to be a scen them? >> i think it is the nature that propels people to do change. two years ago we would have thought that m&a would have had to take advantage of opportunities. a year ago would have been just to make sure that the rating of these companies, which affects the cost of capital, would have been protected. now it is just about people trying to find very deep value opportunities, desperate players for cash that have no other option. it has changed. i don't think it is going to be the beginning of a fundamental spread in terms of m&a activity. it's just that those that have the cash, the opportunities are there. but we have to talk about oil, so let's not kid ourselves. any short-term balance is not going to be the beginning of a significant spike. manus: but it certainly is driving markets. the other thing is -- i caught up with sergio matthew, and he said there would be no asset class spurred. we had some conversation. i saw james devon last night. this is the opportun

it is being driven by companies like j.d..com and alibaba, not being driven by petro china or new 100er. you can see that in all the numbers coming out of china. service sector is driving the economy, it is the biggest part of the economy. that transition has actually already happened. i think a lot of people don't realize it. haidi: when you think of the service economy, when you think about the new economy that jean peng is trying to push forward tothat xi jinping is trying push forward, it is alibaba, and those companies. it has yet to trickle through. mark: if you drive across the border to shenzhen, there are thousands of names. there is a disconnect the tween the rest of the world and china -- between the rest of the world and china, because the gates are closed. but there are investment opportunities and technology in china, they are not listed in hong kong or shanghai area those are mostly in shenzhen. they are interesting. the investment opportunities? health, biotech has been hot going into 2016. , orthere other areas geographically, areas you are keen on? with china, as a v

was up 11% in australia and petro china still trading in hong kong, up by 6.7%. risk on appetite. you can see that when we have a look at the government bonds. what we are seeing on the 10-year note is in australia, people pulling their money out of government bonds. seeing those of emerging market currencies like the ringgit and the yuan all rally. we are not -- we are sitting out of this big fund well set off. -- selloff. the raised the revenue and forecast for next year. the german software maker credits excellent momentum. isport revenue and business -- are driving the growth. euros increase 23 billion to 23.5 euros in 2017. operating profit will be 6.7. that is higher than the forecast they give -- they gave last year. mcdermott joins the team a little bit later on in davos. vices. china's president says authorities are willing to keep intervening in the stock market to make sure that a few speculators do not benefit at the expense of the regular investor. >> we will speed up negotiations on investment agreements and tear down trade barriers. to improve thee environment for f

the effects it's going to have on society is going to outstrip those that the petro check call industryze this is your baby and you've made a career out of it but you're also something of a philosopher. do you see the inherent possibility of bad coming out of all of this? >> you have to watch some kids using these things. and what you find is far from something quite harmful. what you see is an instantaneous reflection of a part of themselves. the creative part of themselves being expressed. at ally bank no branches equals great rates. it's a fact. kind of like reunions equal blatant lying. the company is actually doing really well on, on social media. oh that's interesting. i - i started social media. oh! it was my...baby. hey pal? you ready? can you pick me up at 6:30? ah... (boy) i'm here! i'm here! (cop) too late. i was gone for five minutes! ugh! move it. you're killing me. you know what, dad? i'm good. (dad) it may be quite a while before he's ready, but our subaru legacy will be waiting for him. (vo) the longest-lasting midsize sedan in its class. the twenty-sixteen subaru legacy

i would like to adjourn this meeting in honor of firefighter rocko papa petro who was a 40-year veteran of the san francisco fire department. he retired february 1, 1991, assigned to engines 32, 2, 1, 37, 15 and 11. also, recently passing mr. bill del monty, the last known earthquake survivor. he was 3 months old when this earthquake occurred. he passed away at 109 years of age. just 10 days shy of his birthday. he was a friend of the department. we loved seeing him the morning of the commemoration of the 1904 earthquake and fire. this meeting is now adjourned. [ meeting is adjourned ] >> >>[gavel] >> good evening. welcome to the january good evening. welcome to the january 20, 2016 meeting of these san francisco board of appears. the presiding officer this evening is and lazarus and she joined tonight by commissioner frank fong commissioner swig and bobby wilson could expect bobby honda to be here any minute. at the controls is gary-the board legal assistant cynthia goldstein the executive director. russell joined by represents of the city department that of cases before the board this

jobs, bp this week, petro voss and others as well. >> it's difficult, we were talking about the servicebers are good. you wonder how much since gas loan has come down. it's concentrated in certain states. fx, the federal reserve puts out fabulous numbers. the numbers around that bad. so you keep thinking, it's almost as if, wow, every time they lose a job, they gain a job. >> that's texas. not necessarily the resource business. the oil billions or is it? >> i mention texas. >> are they breaking it down by industry there? in there the net price. >> they have a lot going on in other areas including high-technology. >> that's the state most impacted like penn's square. >> a somewhat different economy. houston is still houston. >> lousiana has fantastic employment. california a big producer. forth dakota is just not a lot of people there. again, remember, there is 40 states where there is literally nothing doing in oil. there wasn't. i'm including wisconsin because they're not really. they're focused much more on green bay. mike would not take this week. >> really? >> interesting. we'll see

you see petro on six and 12 and 18 month maturity yielding close to 10%.e are situations in which the yield, you know, appears relatively attractive. i don't think that grabbing for a yield at the moment, i have not suggested shorting the particular instruments because, you know, they've come down a lot in terms of price and gone up a lot in terms of yield. but i wouldn't own them at the moment. i still think that the real economy and commodities and china are affecting the flow of money in and out of thof the le financial economy and i would wait for the moment and stick to high quality, sovereign debt as in u.s. treasuries. >> wow. so that's not very much. i was going to ask you, bill, we have waited for yield for so long. people have been so hungry for yield in a zero interest rate environment. and then when yields finally arrive, everybody is terrified of it, right? because what it signals. is there anything out there that you can recommend to somebody that says, yeah, the coupon you're going to get here is higher than average, but you are compensated

. >> petro grass has what they call the century bond. 100 years issued just last june.atured in 2115. $2.5 billion when they issued it. the coupon was 6.85% but take a look at what's happened to the price. >> where is it now? >> 59 cents on the dollar when we bring up the chart. the yard is now around 11%. so if you bought this and they did pay, you'd get 11% a year for the rest of your life. >> if you paid it and bought it at today's price. >> exactly. >> and if they're still around. >> if they're still around. on the one hand, it's the most indebted company in the world. the country's economy is in the tank. total uncertainty about whether or not the president will survive. she's a sadist anyway. it's state owned. they have publicly traded stock but it's controlled by the government which can do whatever it wants and its analysts argue it's too embarrassing too fail. >> too embarrassing, not too big. >> both. but it so defines brazil as a nation. these are little games i play. >> buy and hold to maturity. a long-term play. you get the 11%. >> traders will say you can

all these guys accumulated all these petro dollars and started investing them in the markets to generate returns, diversify the economy. now, of course, they have to pay the bills as bob points out. it would make a lot of sense that this would explain some of the selling. >> yes, it would. yes, the absolute amount of money managed is tremendous by sovereign wealth funds. not a whole lot of it in equities, so i think the idea of this direct selling of sovereign wealth funds into equities, jpmorgan estimated for the entire year of 2016 net selling by sovereign wealth funds could be $75 billion. not a very large number at all, but i do think the general dynamic is absolutely in place. fewer dollars leaving this country to buy oil, less -- fewer dollars in circulation around the world because global trade has slowed down so much. so you have net exporters and countries that have less dollars to work with. they're turning what they have into dollars, some of that is equities around the world. >> let's assume some of it is equities, but where is the rest of that money if not much of it is as m

. >> it's not about petro dollars and selling arms. >> is all of this a constant inefficiently of the united nations? >> the united nations is not a serious place. the saudis, one of the leading members of the u.s. human rights counsel, market indicator number one, what they're doing on north korea. it's irrelevant. they're blaming the u. for the failure of the world to do a lot of things. the u.n. is just a place and when the great powers don't agree and in many places they don't. >> by the way, coincidentally, the same amount of people that worked for the u.n. worked for the knicks. >> all right. >> richard, thank you so much. >> so anyway. thanks for being here and by the way, thank you. you've been talking about the north korean threat for years now. you've slept through all the warnings. >> 2010. >> you've been talking about this. this is not a direct threat to the west coast right now. it could be in the coming years. >> richard, thank you. coming up, for someone who says they're not endorsing any candidate, rick scott has nice things to say about donald trump. he says he thinks

we will be talking with ukraine president petro poroshenko who met with vice president joe biden.with the bank of america chairman and ceo ryan moynahan days after the

i would like to adjourn this meeting in honor of firefighter rocko papa petro who was a 40-year veteran of the san francisco fire department. he retired february 1, 1991, assigned to engines 32, 2, 1, 37, 15 and 11. also, recently passing mr. bill del monty, the last known earthquake survivor. he was 3 months old when this earthquake occurred. he passed away at 109 years of age. just 10 days shy of his birthday. he was a friend of the department. we loved seeing him the morning of the commemoration of the 1904 earthquake and fire. this meeting is now adjourned. [ meeting is adjourned ] >> >> feel like it really is a community. they are not the same thing, but it really does feel like there's that kind of a five. everybody is there to enjoy a literary reading. >> the best lit in san francisco. friendly, free, and you might get fed. ♪ [applause] >> this san francisco ryther created the radar reading series in 2003. she was inspired when she first moved to this city in the early 1990's and discover the wild west atmosphere of open mi it's ic in the mission. >> although there were these ope