a battle for your smart phone dollars a the name of the game for apple and samsung. the buzz is about product launches. on tuesday apple sent out invitations to a media event on 7 september. samsung is planning to steal some of apple's thunder on-wednesday in berlin. it makes us wonder if the new products will live up to the hype. >> a lot of buzz is based on speckulation. industry watchers expect samsung to enter the wearables products, with a product that will please fans of spy agents. it's been called the galaxy gear. it's to create a smarter mobile experience. joining a field of smart watchers from nike's pebble. >> many expect an updated galaxy note with a larger screen side. the 5 inch screen is huge it's falled an fablet. part phone and part tab the. nearly 30 million have been sold in the past year. a bigger game changer could be apple's announcement next week. it's expected to introduce two iphones. one is a refresh with an updated operating system. the other has the most buzz, nicknamed the iphone 5 c eating into samsung's share in markets like china. in ch

once a dominant player in the hand held market its sales have better than lit by the rise of samsung and apple. analysts say blackberry may be bought out by one much its rivals. >> to go into parts of north america and europe and asia that it's not in. it's very business focused. >> blackberry dropped neefer 20%. a town -- dropped more than 20%. >> eminent domain to seize homes before the banks do, the is ruling has sparked a battle but its far from over. rob reynolds has a report from richmond, cloof. >> a small town david, the mayor of richmond, california, a town beset by housing foreclosures went to the san francisco headquarters of wells fargo, one of the nation's biggest banks demanding a meeting with the ceo. they were turned away but richmond mayor gail mclaughlin has a plan. richmond is a down in its luck working class city of 100,000 people with an unemployment rate of nearly 12%. there were more than 900 foreclosures here last year and half of the mortgages here are under water. meaning the homeowner owes the bank more than the property is worth. >> what we're doing is, offering to

once a dominant player in the hand held market its sells have been hit by the rise of samsung and applekberry could end up being bought by a rival. tom ackerman has more. >> reporter: block barry was once called the leading edge make of smart phones but its newer products have failed to attract customers, 3.7 million units sold this quarter, that's 10% of the volume for apple and only 2% of samsung sales. it's new z10 smart phone got favorable industry reviews, but has sold poorly he i especiallyn its key u.s. market they will be cutting their product line from six to four items aimed at what the ceo calls professional end users. the hope is that drastic move will help cut its operating losses in half by early 2015. but it also means 40% of its global workforce will have to go. particularly hard hit will be blackberry's headquarter waterloo in the province of con duh's tech capital. there was sympathy but no prospect of government assistance, saying, quote, our thoughts are with those that have lost their jobs, it is always a cause of concern for our government. the company's board says

"as long as there are folks like samsung and apple and microsoft remain separate, competition will remain in place." as recently as 2007, nokia had 40-percent of the handset market. but it faltered in smartphones--even now has only 3-percent of the market. the offical launch of samsung's first wearable device is today-- but images of its new galaxy gear watch appeared all over the internet yesterday. the device will reportedly have a touchscreen display and 4 megapixel camera. aimed at young trendsetters who are also health conscious -- the device is more about tracking foot steps and heart rate than telling time. images of many earlier samsung products have also been leaked on the internet. bank of america is selling its remaining stake in a china bank. b of a is the last u.s. bank to wind down a position in a chinese bank. several years ago wall street bankers wanted a part of the chinese banking system to get an edge in china. now there are questions about the asset quality of banks in china. the wall street journal reports bank of america will sell its entire stake in china constructi

we'll regret those words when the new handset division turns into a power house that crushes samsung and apple while verizon flounders and cuts its dividends because it paid too much when it shelled out $130 billion to buy the stake it doesn't own already. maybe microsoft got a bargain with the handset business. maybe this is really microsoft's chance to get big into mobile, and you have to respect that it's better late than never. my problem, though, is that one company's throwing good money after a winner, verizon wireless, and the other's throwing good money after bad with a loser like nokia. verizon wireless is the 100 million subscriber gorilla. i know there's new competition now that sprint is with softbank and t-mobile has a new ceo ready to pony up what's necessary to be competitive. i don't like verizon wireless as much as i did. i wish verizon only paid $100 billion and not $130 billion. i happen to be personally conservative about debt, but i guess the train is pulling out of the interest rate station so action was required and vodafone was motivated that the competition in u.s. cou

two companies have been working together for two and half years to compete with samsung and apple. if it does shareholder and regulatory approval, the deal is expected to close early next year. stock is up 31 percent for nokia, but microsoft stock is down almost 5 percent. >>> a researcher in india getting $12,500 from facebook for finding a flaw in its software. he used facebook ceo page to expose the bug that lets hackers delete other people's photos. the social networking giant says the man did not delete anything so he did not violate any privacy rules. >>> apple confirmed rumors today that it will hold an event next tuesday on september 10th. the company sent invitations to the media with a rainbow of dots behind an apple logo. underneath it says, that should brighten everyone's day. it does not offer details about a possible iphone 5 s in black, white, or gold or cheaper iphone 5 c and colors that might brighten the day. but that's what insiders have been talking about. apple is also expected to unveil a new mobile operating system. >>> for the first time ever, california stat

the two companies have been working together for two and a half years to compete with samsung and apple. if it gets shareholder and regulatory approval, the deal is expected to close early next year. >>> time now is 4:41. coming up, progress in the fight against the rim fire. coming up at 5:00, its effect on san francisco's water supply. >>> and grieving for two women killed by a driver who is still on the run. why officers who were watching the driver say they never chased him. >> we are doing well looking at the bay bridge toll plaza which is open again and traffic is light as you drive towards the new bay bridge. >> outside our doors this morning, we are transitioning to a drier pattern. that means we are looking at a cooler start this morning. we will have a look at today's temperatures and the warmup coming our way for the weekend in just a few moments. >> welcome back, everybody. the time is 4:45. you are looking live at the new bay bridge. the eastern span of the bridge open to traffic since 10:00 last night, hours ahead of schedule. we will have coverage from the bridge this mor

. >> so to combat samsung and apple feels like a good place, because if you take a look at the androidmarket right now and the other players in the android market environment, it is a tough slog. >> we'll have to see if that make makes it tougher, i'm john fort. >>> an interesting day tomorrow. >>> and still ahead tonight, some of the country's biggest employers are changing the way employees get health care, so will more companies follow? and what does it mean for you. >>> plus, a look at how the widely held stocks performed today. carl icahn is very long in the towel, giving up his big fight to take over the big computer maker, del, just before they were scheduled to buy out on the company founder, michael del, icahn admitted it would be almost impossible for his rival proposal to prevail. >>> an ultraluxury retailer getting a new owner, privately owned neiman marcus, best money for his catalogues of high priced gifts, being bought out by the california owner and the canadian pension plan investment board. >>> and today, molex, maker of electronic companies, will be acquired by the p

. >> to combat samsung and apple feels like a good place. if you take a look at the android market right now and the other players in the android market environment, it's a tough slog. >> reporter: it's sure to be a tough slog anyway. apple is out selling nokia 6-1 but if this deal goes through before spring as microsoft hopes, it will at least have more firepower. i'm jon fortt. >>> investors were talking today about that massive verizon acquisition announced over the weekend. it's paying $130 billion to britain vote a phone to buy the 45% of their wireless joint venture that verizon didn't already own. the news didn't go down well with verp risen investors. shares tumbled nearly 3%. but verizon's ceo told u.s. customers they won't see changes to the cell phone service and reassured wary investors that the deal will pay off in the long run. >> where can you buy a business that has 100 million loyal customers and 50% margins and no risk and feel to grow the business further? we feel good and will create shareholder value. >> another deal, thi

got us tech companies spying on asian tech companies and i'm thinking about the spat between samsung and apple over patents and other intellectual property so here you have proof that american companies are gays and corporate espionage on asian counterparts and also dan i would imagine that the next time america accuses china of currency manipulation that's not going to go over well either at this point down . no unfortunately we've in the us we've lost the high ground on everything in from economics to in politics we've lost we've lost the argument in many ways so i think there's going to be a re readjustment of. values it will going both ways all right speaking of readjustments danny you live in shanghai you've spent the summer and the you asked tell us about some of your observations during the trip how does the infrastructure of the general economy compare in the us to what you observe in china originally from detroit area lived in china fifteen years when i come back here obviously it's a shock to me i mean many of the cities i go here are more more similar a second world conditions if yo

got us tech companies spying on asian tech companies and i'm thinking about the spat between samsung and apple over patents and other intellectual property so here you have proof that american companies are gays and corporate espionage on asian counterparts and also dan i would imagine that the next time america case is china of currency manipulation that's not going to go over well either at this point dan . no unfortunately we've in the u.s. we've lost the high ground on everything in from economics to in politics we've lost we've lost the argument in many ways so i think there's going to be a re readjustment of. values it will going both ways all right speaking of readjustments danny you live in shanghai but you've spent the summer and the you asked tell us about some of your observations during the trip how does the infrastructure of the general economy compare in the u.s. to what you observe in china recently from detroit area lived in china fifteen years when i come back here obviously it's a shock to me i mean many of the cities i go here are more more similar to second world conditions

got us tech companies spying on asian tech companies and i'm thinking about the spat between samsung and apple over patents and other intellectual property so here you have proof that american companies are gays and corporate espionage on asian counterparts and also dan i would imagine that the next time america case is china of currency manipulation that's not going to go over well either at this point dan . no unfortunately we've in the u.s. we've lost the high ground on everything in from economics to in politics we've lost we've lost the argument in many ways so i think there's going to be a re readjustment of. values it but we're going both ways all right speaking of readjustments danny you live in shanghai but you've spent the summer and the you asked tell us about some of your observations during the trip how does the infrastructure of the general economy compare in the u.s. to what you observe in china recently from detroit area lived in china fifteen years when i come back here obviously it's a shock to me i mean many of the cities i go here are more more similar to second world condi

and its future? >> this puts more pressure on blackberry to find some large pool of money. now you have google, samsung, applend microsoft all very well funded. blackberry is just not at that funding level. they will have to get creative. dagen: will apple pay attention to this deal at all? >> i think apple has enough problems internally. the bottom is, microsoft is a vertically integrated company. they are in a much better position. a good set of resources. it will put pressure on apple's market share. dagen: rob, it was great to see you. thank you very much. house speaker jon banner design of a meeting with president obama. we will tell you about what he said about the u.s. military taking action against assad. we had to the cme to see if commodities can continue their bullish run into september. take a look at the treasury markets. the direction of yield and the selling in the treasury market. 2.89% on the ten year. ♪ [ villain ] well mr. baldwin... it appears our journey has come to a delightful end. then i better use the capital one purchase eraser to redeem my venture miles for this trip. purchase erase

i mean it's competitive with the likes of apple and samsung all in the marketplace and i think the key microsoft here is that it offers an alternative operating system and apple has ios operating system and samsung and other makers use android and they will provide the windows phone which has some adoption in the last few years since the re-lewis of the lumia phone and could have a threat to rivals. i think microsoft is looking to really fill the gap in here and really try making some headway when it comes to the strategy. it is part of the -- it's consistent with what they want to do in the future and it's a hand set maker as opposed to the pc market which is declining and tablet marking on the back of this nokio position. >> reporter: good to speak to you. thank you. >> good, thank you. >> reporter: every year tens of thousands cancer patients go to mumbai and pay little in one of the hospitals in the country and overwhelming demand and property prices some have to make the streets around the hospital home and we have more. >> reporter: camping on a dusty patch of pavement she does w

its sales have been hit by the rise of samsung and apple. blackberry could end up being bought out by a rival. >> a variety of chinese manufacturers would like to use blackberry to go into parts of north america and europe and asia that they're not currently in. plus it's business focused. >> blackberry dropped nearly 20%. meantime, apple has gained momentum, are first to get their hands on the new iphone 5 s, the demand is strong, and silver and space gray iphones are available in seven to ten business days, but customers looking to buy gold version he will have to wait until october. >>> well, jessica taff is here with sports. >> hi john, we were talking about a little baseball going on. a long time pitcher, andy pettit announcing he is ready to retire again but this time for good. it seems that no matter pettit is all time leader in the postseason with 19 wins to go along with five titles. >>> turning ogolf, where an extra $10 million payday is on the way. tiger woods if he request get it if he can hang onto that number 1 rank in the fedex

and what is it then that apple and samsung and other guys are going to bring out to basically keep thatovation moving along. >> yeah. and meanwhile, got this, you know, how is the battle between samsung and -- apple has this invitation out at the moment. will samsung keep its lead? >> for now, yes. if you look at the sheer numbers in terms of the units shipping, look at the presence that they have globally and their ability to command a wide range of price points, the momentum going behind samsung is still good. the question is, however, who is going to be the one that takes mind share. apple has been the one that people look to for next cool thing and we'll see if they're able to keep that up. it is look a boxing match. we'll see this week what samsung has up its sleeve. and whether or not that's something that looks better than what apple has got next week. >> yeah, sonny, any news about the -- >> as someone who is not invested in either companies, i'm a consumer and i love the boxing match as long as they keep doing better things for us. i think one of the important thing today to wa

takes over, whatever ends up being sole, however many different pieces the blashg it's great for samsung and apple. peel are not pricing in the ntt/docomo deal, the potential that all of the new -- not all were 5ss but large percentage of this was the 5s and the fact it's going to be fast, the 64 bit a7 chips are going to make it a better experience for anybody with less than a 5 iphone that's upgrading hear, 4s and 4 ss so much bet, i don't think it's modeled in. we've seen upgrades now today, i think you'll see a lot more of those going forward. >> i don't know how much credence you can put into models of anything after street got this one so terribly wrong. >> i agree, completely wrong. last night during emmys you saw a lot about samsung's smart tvs, about if you saw that broadcast, you saw a lot about what they're talking about as far as smart tvs, whiches are not terribly smart yet. nary going to be of course a huge competitor because they've been in space longer. depending on what we see out of apple with innovations they make, they have been in tvs through that listle b little e dedepending

apple quickly. you think this product for samsung, its first rollout, you think apple will come back and do their own, samsung will copy that at a cheaper price? >> i think that is probably the path. recognize without steve jobs apple's ability to release and set a bar on a product is vastly reduced. i think this mean the market will be probably open to anyone for a period of time. we have google product coming. qualcomm product. pretty much everybody and their brother is trying to bring out one of these things and take the market. what the market is looking for, something more jewelry-like and much more attractive and outdoor capable. >> let's talk about what apple will be releasing. we'll find out next week. a new iphone. we've got this announcement, dual or triple announcements in the u.s. and china. what are we expecting from apple? >> well we're expecting a number of phones. certainly one with a larger screen since they have been buying up screen surplus screen stuff for sometime. large screen stuff for some time. they have been buying screens. should show up on the phone. and a lower cost phone

the two companies have been working together for two and a half years to compete with samsung and appleif it gets regulatory approval, the deal will close early next year. >> the time is 6:23. as we have been talking about, the bay bridge open for business, if you will. there is still construction remaining. the permanent repairs that lie ahead. ; >> it is 6:26. the mayor of san bruno will give an undate on the recovery efforts from the deadly pg&e explosion. it is the third anniversary of the explosion that killed 6 people and injured 60. he will talk about the need to change the way that public utilities are regulated so what happened in san bruno three years ago never happens again. >> well, cooler weather is heaping firefighters battling the rim fire burning in and around yosemite national park. we have received word that the fire is now 5% percent contained. it could take until september 20th to fully knock down the flames. it is the fourth largest in california history. 111 buildings have burned, including 11 homes. >>> we will find out later today the safety levels of san francis

strong sales of liquid crystal displays to samsung electronics and apple are cite as a key factor. >>> housing prices in china continue their upward trend in august. the cost of buying a new home was up in more than 90% of major cities compared to a month ago. researchers and china's national bureau of statistics on wednesday received the results of the latest monthly survey. prices increased, rather, in 66 out of 70 cities. they stayed flat in two. the higher cost of housing was more evident in metropolitan areas. shanghai and guangzhou saw a hike while shanghai saw a 1.7% hike. they fear it will fooul discontent among people trying to buy a home. here are the latest market figures. >>> the iron man triathlon is said to be one of the most grueling competitions in the world. participants must swim for 3.9 kilometer, cycle for 180 kilometers and then run for 42 more. the annual world championship in hawaii attracts some of the fittest athletes on the planet. kojima of japan has won first prize in the 70 to 74 division and twice in the 70 to 79 division and he's determined to come out o

apple and samsung has come into this gang busters. morning a multi-billion deal, we don't see these very often to buy the mobile phone division of titan nokia. liz, good to have you here today. is this a good deal for microsoft? are they likely to carry a lot of weight in this segment? >> that's exactly the question wall street is asking. good to be with you. it is one of the biggest phone deals ever. microsoft is taking on samsung and apple in buying nokia's smartphone business in a deal worth $7.2 billion. microsoft's windows phone has already surpassed blackberry as the third largest as a matter of fact phone business. the move is one of the boldest yet by microsoft ceo steve b ballmer who recent ly announced last month he plans to retire in a year and steven aloft is vying to replace ball mer and they're showing they want to turn themselves into a more than a moth software company. they only sell a fraction of the cell phones, apple and samsung send. steve ballmer said now is the time to build on this momentum and accelerate our s

they are moving to a more business focused and tapped out of the consumer smartphone market and said apple, samsungroid it's yours now. >> reporter: they refused to comments on the private deal and it will not save the 4.5 thousand people who will lose their jobs next year but the inability to connect with desire and demand means the signal dropped out a long time ago, al jazeera new york. >> and this is the final of the european championships in sylvania and fans were particularly excited to see nba star tony parker. >> following tony parker on the other side of this and i don't know, he is just, i'm proud to be french and proud to see the french together. >> reporter: now a rare gold coin has gone from small change to a small fortune and known as an stella and it was made in the 1800 in the u.s. but never released in circulation and now it is sold for more than $2.5 million at auction and the sale price is double the preauction estimate and making the coin the ten most expensive u.s. coins ever sold.

samsung. there is philosophical difference between apple and samsung. that will continue. end on this but there has to be some inspirational product out there soon for apple to really get its mojo barks doesn't there, brian? >> oh, yeah, i think ultimately, you know, we will see an iwatch. we will see an itv. at end of the day it will not matter from a financial perspective. it will be more of a sentiment changer. i think ultimately the iphone 5c and iphone 35 sis s and what we expect, i phone 6, five inch iphone will drive apple to $600. david: we'll see. mark and brian, thank you gentlemen. appreciate it. >>> mediavesttores have been enjoying rich returns but it's a very different story for a lot of workers in the media industry. we'll go to the headquarters of one of the best known audio equipment-makers to find out how to get a job in this highly competitive industry. lots more from liz. she is still out in san francisco. liz, what is coming up. >> we're finishing up "three days in the valley" day one with just a huge get. two years ago facebook realized, they saw the w

and give stockholders $9 a share in cash. blackberry warned it would cut 40% of its work force. the company has been struggling to come beat against apple and samsung. apple's latest iphone launch turned out to be a record breaker. the company said it sold more than 9 million models since they hit store friday. microsoft unveiled two new surface models today. the pro 2 targets professionals who want the full power of a laptop in a tablet. they start at around $500. wal-mart will hire 5,500 seasonal workers and make more workers full time. that means wal-mart will be offering more workers benefits. that's your money watch. for the latest business news, follow me on twitter at alexis cbs news. in new york, i'm alexis christoforous. >>> well, every school year teens join their high school's marching band. if they're good enough they play at disney or a major parade. as mike schuh reports the dulaney high school band is taking their act overseas. >> in westminster and elsewhere volunteer hours are spent perfecting their act. as you got your act together you get to fly your banner here in london. >> this is new year's day 2011. guess what... >> we recei

microsoft now trying to catch one both apple and samsung. >> good morning. mostly apple. microsoft is really copying apple's approach. you own the hardware, the phone. you own the operating system. you own the app store. microsoft can do that if it owns nokia. now the deal is worth about $7 billion. microsoft clearly hoping it will help it in the phone business. remember, the phone business is really the computer business these days. and there's talk that former nokia ceo steven elon maybe the next head of microsoft as well. all in all, it's fairly straightforwarder. there's one question though, listen to microsoft ceo steve balmer as he discusses the company. >> we really kicked this journey off two and a half years ago with a partnership with nokia do windows phones. >> so, knock-ya? the question is how do you pronounce that company's name? some say know kia, some say nokia. i got on the line to nokia on my phone, my iphone, the official word is there is no no in knock-ya it is knock-ya, named after a town by the same name. now you know, although now i suppose you prono

the opinions are lining up on what they have to have. >> as far as the battle royal between samsung and applethis is much more important to samsung, which is why they've come out first and rushed it to market, because they are trying to build a hardware eco system that can mirror what aipple has achieved? >> i don't think they have the same sort of tension about when to lease. i think that they go fast and they go hard and they go when they think the timing is right. yeah, getting this out before apple is probably a good thing. we don't think apple is delivering an iwatch next week and it's not clear exactly when they are because apple won't do it until they're ready. one of the things about the screen technology we have lcd technology, you know, super analog technology which is probably the most battery, take the most battery power. pebble and the marisol which is color. so it's kind of an interesting thing to watch, too, the key with the smartwatch is being able to wear it for a long time and not always have to worry about charging. >> george, it's paramount with -- i'm going to hold it up

the apple stock is up 1 1/2% at 49 494.55. and samsunging apple to the punch withwarable devices. i've been waiting for the i-watch and waiting and waiting and now i'm hearing that samsung is going to beat them to that. what you're noting for the apple iphone 5 cs and coming out. stuart: by the way, we will have the samsung smart watch here on the set and check it out personally on friday of this week. nicole: cool. stuart: we're up 69 points, 70 points after what, 2 1/2 minutes' worth of business. not -- okay, now, microsoft and verizon, they are both dow stocks, and they're shaving, the two of them combined, because they're down, they're shaving about 25 points off the dow industrial. without them, we would be 100 points higher. take a look at the price of gold, please. here again, we're wondering what's the influence of syria. gold is up at 1401. now, look at oil. it was down just a few cents earlier and now is down 34 cents, that's it. $107 a barrel. go back to scott shellady. i see two negatives for the market from syria. number one,

maybe we should give them a break and take a couple of years to create something new. >> what i worry about what apple is that they are not pushing the envelope anymore samsungt has a 80% and apple will disappear if they do not do anything dramatically better. >> pam: and controversial debate after naming the bridge over the past mayor. stanley catching people behaving badly. coming up next [ female announcer ] safeway presents real big deals of the week. or how to get great deals the easy way. you do enough flying around. that's why we give you real big club card deals. this week, a super low price on breakfast. honey bunches of oats is only $1.88 a box. arrowhead water is just $3.33 a case. make it a triple scoop. dreyer's ice cream is just $2.88. real big deals this week and every week. only at safeway. ingredients for life. (male announcer): this is the bay area news station, kron 4 news starts now. now at 8:30-- as the nation marks the 12- >> pam: year anniversary of the 9-11 attacks. americans are also remembering the deadly attack on the u-s consulate in benghazi, libya last year. >> pam: u-s ambassador to libya chris stevens. a bay area resident. and

small segment but it is exactly the type of thing that something like apple should show us how you do it. here is the cool thing. and samsungeen also not do it. it is big, clunky, and only $300. but who cares? we were hoping that apple however, would be able to do it. but they did not come up with anything. steve jobs however, reinvented everything. and arguably, almost the television but that is still in the works. i think that the bar is so high. no company can live up to that. sometimes, even apple is going to have to do a utilitarian upgrade. i and i think that is what this is. >> maybe apple should be given a break to given a couple of years. but they should not take long because samsung longandgaming traction and samsung and android it just does not seem like apple is pushing the envelope, any more. android has 80 percent of the market share worldwide. apple is losing the war they are going to disappear if they do not do something dramatically better. and if you'd like to connectyou can add him on facebook, follow him on twitter. or email - slate@kron4.com. the one feature apple users were impressed with. a fingerprin

samsung seems like they are born to be a bust. >> let's talk about amazon. they're talking about is smart phone. >> they are talking about free the funds that are free. this has to scare apple and samsung. the to cut really combined and this could be massive. i already purchased things because i trust them. if they give me a phone that is wireless and almost as good as my phone and i man. i would pay more for their service. i do not like people when i did not like shopping. i did not contact for all sales tax. people find more of the. >> let's talk about macy's. we are seeing more department stores revamping. >> j.c. penney was too aggressive even though-- macy's is stating that they will go with branson that people actually want. they will try to attract those people that are 30 to four years ago. macy's is still in the right initiative. >> lastly, the stock of facebook. if they are finally paying off for an investor. >> $50 stocks, for five years, the ipad oprai expect tho continue to scale and i think that a video service is being tied to commercials. this is what facebook is after. they can turn this around and just be a heck of a player in the media world. >> coming up on

blackberry even with new smartphones, the q10e and z10, which it rolled out, have been struggling to keep up with apple and samsung, both of which dominate this market. other headline restructuring plans, including reduction of approximately 4500 employees, cash on books decreased to $2.6 billion. shares down about 17% on the day. the question now, will these disappointing results make it even harder for blackberry to find a buyer. maria? >> thank you so much. james brem is joining us on the telephone, senior strategist and consultant with compus intelligence who met with blackberry last week. great to have you on the program. thanks for joining us. >> absolutely. >> what does this mean. the company cutting 40% of global workforce, that's 4500 people, announcing the size of the loss, 22% of its value in a day, in an hour, actually. is this the beginning of the end for blackberry? >> it really could be, given the fact that everybody's pared up. microsoft and nokia were the last to pair up. that leaves blackberry on the outside looking in as to what it holds for the future. it has great intellectual property left bu

they're trying to reduce costs and still compete with competitors like samsung and the aforementioned apple. >>> the funny smell that drifted out of the a's dugout. crews clean up after another sewage problem. >>> also the america's cup drama stretches into another day. find out why what could have the final race today, why it was canceled. spencer christian is here with the werth. >>> we have interesting changes coming in weather. temperatures continue to rise tomorrow. they drop on friday and maybe a little rain in the forecast. i'll have the forecast for you in just a moment. >>> thanks. and how google is putti >>> oakland a's manager has revealed what caused the latest sewage problem at the coliseum last night. sue am overflowed in the bathroom of the a's dugout. it turned out the corporate was a blue rag that was flushed down the toilet for some reason. they were still cleaning up this afternoon. less than two hours before the first pitch in today's game against the angels. >> this is something that happened last night that will be taken care of. it's not a big deal. >> this was the se

. >> bets by can playoff with the tablets but this is a big win for apple and obviously one for samsung and google. about this trend again, microsoft is at the loser. this is something that is going to turn into the next big face and a cheaper version of these funds. apple is not well positioning these cheap. >> you think that will come around? >> this discord cutting. every device in my house has a record. i think i want to have your chords. i would replace it with a notebook. i probably not replace it all the time but i do like the keyboard. it is a trend that younger people want. a gives you more space for other items. >> we have been watching the trend with health care. this will keep going. >> it is interesting. the dull, care and the 04 will help track will kick in in two weeks. most americans are not even familiar with it. only 8 percent said it is easier. i can tell you that my health care plan is seems like i am paying more. i am just pay more and more. healthcare, will be big in the nose in the next three weeks. a lot of americans will have to pay for it if they do not get at

you want a rav iv or lexus, you might want to get out a pen and pencil, and we'll tell you about apple's plan to a take down samsungn the far east. ♪ >>> u.s. news and world report has released his annual list of best colleges, and the ivy league schools are once again at the top of the list. the top public school is the university of california at berkeley. this year the magazine revised its methods to emphasize graduation rates, and with those changes in mind, penn state made the biggest year to year gains. >>> apple was expected to unveil two new versions of the iphone 5. the decision to release an more economic phone is an attempt to infiltrate the chinese market. >> reporter: welcome to the global smartphone gold mine. china, 500 million people have smartphones. it over took the u.s. as the largest market in the world. but not many chinese own ipho s iphones. apple is behind some sung. and for those two closely watch the industry, it's not surprising as apple still has limited access on china's networks. >> the combination between am and the local carriers were not that special. apple from our, you know, peopl

and smart phones. earlier this month microsoft surprised analysts when they decided to buy nokia's device business in attempt to compete with apple and samsung in the global smart phone market. last month microsoft announced its long time ceo would be retiring during the next 12 months. the stock today moving higher on the news, now over 20% this year. last year remember it was up just 3%. that stock is currently on track for the biggest yearly gain since 2009. for "nightly business report," josh lipton. >>> while microsoft grows, the federal deficit is expected to shrink. they expect the national deficit to decline to 2% of gross domestic product by 2015 from the current rate of 4%. they also forecast it to rise back up to 3.5 of gdp by 2023, due to soaring health care costs for an aging population. >>> another warning to congress from the treasury secretary, jack lew, telling congress waiting until the last minute to raise the debt ceiling could cause harm to the economy. >> if congress doesn't act and the u.s. suddenly can't pay its bills, the repercussions could be serious. the impact on families and businesses could be significant. inve

so it decided to let samsung and apple have the whole game. >> we are going to use this music when we getting in the tub right now. >> our last word in a moment. [ male announcer ] let's say you pay your guy around 2% to manage your money. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you. nascar is ab.out excitement but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. >>> now, we recoming up at the top of the hour, and we want to thank our guest host jason trinert. >> thank you for having me. >> and first day of a long break. >> 3 1/2 months here to go, and strap yourselves in. >> that does it for us n