goodnight, everyone and goodnight to you, too, susie. >> susie: good night, tom. i'm susie gharib goodnight everyone. we hope to see all of you again "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

a great night. >> susie: same to you. i am a susie gharib. hope to see all of you again tomorrow night. >> nightly business report is made possible by this program was made possible by contributions to your pbs station from viewers like you. thank you. ptioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

i'm susie gharib. good night everyone. you too, tom. >> tom: good night susie. i'm tom hudson. we'll see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in "nightly business report's" video "how wall street works". to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. pbs.

a great night. >> susie: same to you. i am a susie gharib. hope to see all of you again tomorrow night. >> nightly business report is made possible by this program was made possible by contributions to your pbs station from viewers like you. thank you. ptioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org which is very close to lancaster. and it's part of the morecambe and lancaster history. you've got the evidence to prove it 'cause you've brought along a couple of photographs. this one-- now, this clock tower is still there on the front? it's still situated on morecambe promenade. there we see not just one, but we've got a pair of these pots, haven't we? to be frank with you, it probably needed a visa to get here... - right. - ...because this has come from over the border, as we say in this part of the world. this has come from yorkshire, i think. i can't help but think this started off life at the leeds fireclay company sometime in the sort of 1880s, 1890s. so i reckon this weighs probably around about 500lbs o

i'm susie gharib. have a great weekend everyone. you too, tom >> tom: goodnight, susie. i'm tom hudson. we'll see all of you again next week. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

nice to have you with us. >> hi, susie. >> good to be here. >> susie: diane, let me begin with you. what's your take on japan. even though we don't have the acknowledge on the scope. do you think it will have an impact on the global economic recovery? >> there no question it will have an impact. the reaction to natural gas disasters always tends to be heavier. japan is not haiti. we'll see rebuild -- an interruption in economic activity, and some of the interruptions will be filled, like exports to china, by places to europe. and as japan rebuilds, last time with the cobi earthquake, we saw a lot of caterpillar equipment go to japan. and that's what happens, you have a loss in wealth, and that transfer of wealth to other countries as they rebuild. we don't know -- i think it is very important that the fed did not mention japan today because there is more that is unknown about what the effects of japan are going to be, than what is known. the fed didn't want to add anything that would calm markets in japan too early or spark further panic. so they stayed away from it very deliberatel

it hi, rebecca. >> hi, susie. >> susie: all right, so i understand that many japanese auto plants were closed today. give us an update of what's going on with the japanese automakers. >> from what we're hearing, and of course this is a very fluid situation. we have toyota, subaru and mazda closed through wednesday. honda is actually closed through friday. so we're estimating about 125,000 units are goinging to be lost this week in production out of japan. >> susie: but how long do you think these disrup disrupt-- disruptions are going to last is it going to be just this week and especially when you think about how many people have been stranded and all these workers and their familieses in such disarray. >> it's really an incredibly challenging situation for everybody, susie. and we certainly don't see it ending by friday. you know, this week. we have logistics issues. we've got plant issues. we don't even know the condition of the roads that some of these plants. so even if they were able to function d do they have power. do they have people. because the people's homes have been so di

susie, the fed chief's comments came on a day when oil prices gushed higher. >> susie: tom, as bernanke was testifying on capitol hill in washington, oil futures trading here in new york surged to just below the $100 level. april crude rose $2.66 a barrel, or more than 2.5%. and those rising oil prices triggered a stock sell-off on wall street-- the dow fell 168 points, the nasdaq lost 44, and the s&p 500 off almost 22. >> tom: against that market backdrop, bernanke explained the fed's policy to keep the economy growing. darren gersh reports. >> reporter: the new normal for federal reserve chairman ben bernanke goes something like this: republicans in congress push back on the fed's bond buying program known as quantitative easing. the fed chairman argues the program is working, boosting the economy. today, bernanke went a bit further, giving senators a clearer sense of when the fed would begin reversing course. >> once we see the economy is in a self-sustaining recovery and employment is beginning to improve and labor markets are improving, and meanwhile that inflation is stable at app

i'm susie gharib. have a great weekend everyone. you too, tom >> tom: goodnight, susie. i'm tom hudson. we'll see all of you again next week. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org uh, sometimes, yes. okay. i'll tell you what we'll do. i'm not a gambler. i was once told to take a bet on the grand national, and i lost, and i thought, "well, this is ridiculous. - there goes £10. i'm not doing this again." - mm-hm. but, i will make an exception. this has just come out of my pocket-- what have we got here? 20, 40, 60, 80... there's about £100 there. i bet you £100 you haven't had these for very long. you would be correct. you owe me 100 quid. the best-- quickest 100 quid i've ever earned. now let me tell you. you've been going either round fairs - or auctions? - yes. not recently. it was something i did about four to five years ago... - yeah, and you add to it... - ...when i got the

i'm susie gharib. good night everyone. you too, tom. >> tom: good night susie. i'm tom hudson. we'll see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in "nightly business report's" video "how wall street works". to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. >> be more. pbs.d i'm not a collector, but i find them irresistible because they are moments of time captured forever. now, are you the postcard collector? no, they're not mine. they were my brother's. and when he died, he passed them on to my daughter. - so she owns them. lucky girl. - she does. what was his interest? he collected postcards for many many years and he just liked to have any subjects within local history and old burnham and highbridge. what started him? i think it was just purely his-- he was a great historian. - rig

susie, the magnitude of the quake 8.9 is the strongest on record in japan. >> susie: tom, it's still not clear what the devastating earthquake will do to japan's fragile economy and the global markets. here in the u.s. despite the japan's stock index tumbled almost 180 points closing just minutes after the earthquake hit. >> tom: we spoke with our correspondent in tokyo. and began by asking lucy craft what's the initial assessment of damage to businesses and industry in japan. >> companies hit quite hard. sony, hond on, toyota, the major auto makers have a lot of factories up in northeastern japan. there's been a range of damage to these companies. so those factories will be kind of knocked out of operation for various amounts of time. fortunately, the northeastern area of japan is very sparsely populated. this is -- if you compare this to the kobe earthquake of 16 years ago, it accounts for a much smaller amount of gdp. >> reporter: what have you learned about the damage to the trainl systems and infrastructure? >> we haven't heard about the damage to the train system which is a maj

>> great, susie. >> susie: do you think lloyd flank the blankfine helped the government's case? >> absolutely. the government's job is to put a bunch of bricks together and try to make their case. they have the tapes plaintiff gupta allegedly giving tips, and they need a human person, a moderator who give the the information about what was really going on on the outside, outside of that phone call. and mr. blankfein with his credentials and role with a great reputation on wall street was the perfect person to strengthen that case and fill in the bricks in the wall. >> susie: blankfine said it violate the the rule, but did it break the law? >> it looked like mr. gupta violated his duties. he hear mr. gupta had terribles important to investors and was sharing that. that would be insider trading. >> raja's lawyers are going to argue that wall street operates by sharing of information, and this this case. he's just good on getting research. do you think that argument is going to hold up after the >> mr. blankstine's testimony is going to help the case that they weren't just getting

you., too, susie >> susie: good night, tom. i'm susie gharib. we'll see all of you again tomorrow evening. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about investing is available in: to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. >> be more. pbs.d belonged to your grandmother, right. yes, it was her ashtray, actually. - her ashtray. - her ashtray, yes. it was on her bedside cabinet. goodness me. what an amazing ashtray. - do you think that's what it was made for? - i have no idea. it's got a few stains on the back. looks as if it might be some nicotine - that's crept in there. - and it seems terribly uneven - and crude. - yes, remarkably crude, isn't it? yeah. so i suppose you thought it might just be a bit of old junk. - i hadn't really thought. just a quirky item. - you hadn't really thought. and did

hi, bill, nice to have you here with you. >> hello, susie, thank you very much. >> susie: so your pimco return fund has had great returns up so far this year, it was up 8% last year. tell us why are you selling treasuries now. >> we haven't lost faith in the u.s. government. america is still strong and the economy is growing, and we have perhaps 30 or 40 billion dollars worth of u.s. treasury bills. but those are shorter maturity obligations. so the argument really that we have is really a one of valuation. we simply think that longer dated treasury yields, and to cite a few examples, two-year at 70 basis, and five-year treasuries at 2% plus or minus simply are not reflective of where they should be or eventually going. if yields in longer dated segments then prices move lower. so it's not a negative thing in terms of the u.s., it's simply a overevaluation in terms of price. >> susie: so what would make you a buyer again? where would you have to see the yields on these various bonds? >> well, historicly, susie, let's take a 10-year treasury, today they had an auction, a yield of around

good night everyone, and good night to you too, susie. >> susie: good night tom. i'm susie gharib. good night everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> more information about >> more information about investing is available in "nightly business report's" video. to order this dvd, call 1-800- play-pbs or visit online at shoppbs.org. >> be more. pbs. ignatiy: welcome to ebert presents at the movies. i'm ignatiy vishnevetsky of mubi.com christy: and i'm christy lemire of the associated press. ignatiy: the farrelly brothers are back with their comedy hall pass christy: plus, roger takes a look at gael garcia bernal's new film eve

smaller sprint nextel. >> susie: it is a dramatic change, tom. the proposed merger has been approved by the boards of both at&t and t-mobile parent deutche telekom. the deal still faces scrutiny from the department of justice and the federal communications commission. >> tom: critics say the merger could lead to higher prices. and as darren gersh reports, it may also change the way wireless companies do business. >> reporter: to really understand what's driving the future of telecom, you need to appreciate the difference between smartphones and what analysts like dan hayes call dumb pipes. >> the fear among the network service providers is that they are being relegated to being dumb pipes, where all they are doing is providing connectivity for voice calls and connectivity to the internet and all the value is being taken by companies like google or applications providers who are really making the money. >> reporter: applications like google voice or apple's ichat threaten to replace traditional landline telephones altogether. telecom giants like a

you too, susie. >> susie: good night, tom. i'm susie gharib. we'll see all of you again tomorrow evening. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org z?@ isn't that great? where did you get it from? i got it from a charity shop just down the road. very period, isn't it? i would think that's, what? mid 1950s, something like that? it's got the maker's name there, "thorens," who were quite a well-known maker at the time. "riviera" is the style. and you press, presumably, the red button, is it? - yeah. - and there we are. and it goes in the black button to stop. and it's nice that it's got its original case, and it just winds up from the back. how much did you pay for it? i think i paid a pound for it. - well, you can't lose at that price, can you? - no no. i would think in a shop specializing in items of this period, from the, you know, 50s, 60s, you might well