trichet, thank you for taking the time. a very happy holiday and happy new year thank you again. kayla, carl, back to you >> all right, thanks so much, rick santelli. >>> when we come back, the ceo of adobe will break down his company's breakout quarter >> once again, delivering an amazing number this is an impressive company. i think this stock can go up a lot more than this i really do. this was a great quarter maybe their best >>> live shot of cape canaveral here, as spacex sends a cargo load to the international space station on a used falcon 9 rocket then, of course, landed once again at cape canaveral moments ago. amazing thing. >> a few steps left in the process, though. you have to dock on i.s.s., get the reusable parts returned to earth, so we'll see how that goes, but very impressive to watch. >>> when we come back, two big interviews ahead, ceos of oracle and adobe join us next on "squawk alley" eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it

the government of turkey's president trichet. has announced it's sacking twenty seven hundred public servants with alleged links to terror adeline's government has fired or suspended some one hundred fifty thousand teachers judges and other public servants since it declared a state of emergency after last year's failed coup. more than one hundred people were left hanging in the french alps after a cable railway broke down rescuers had to use helicopters to bring them to safety no injuries were reported. festive celebrations in serbia have been marred by outrage over a very expensive artificial christmas tree residents of belgrade have joined protests against the mayor accusing him of corruption. tanenbaum tanenbaum how green and how ridiculously expensive are your branches that's what some residents in serbia's capital belgrade are thinking after finding out this eighteen metre high plastic christmas tree cost eighty three thousand euros now far from rocking round the christmas tree on a happy holiday some of demonstrating next t

we agreed that he would speak to jean-claude trichet, and i would speak to some others, and it became g10 movement. it took about a week or so to put together. we changed the time of our normal meeting so we could announce at the exact same time, this coordinated interest rate movement. and indeed i remember we informed our politicians just before we did it. >> i think the house will want to know that the governor for the bank of england has just announced an immediate 0.5% cut in interest rates is done so in a coordinated action around the world in which the u.s. fed has cut interest rates by 0.5%, the ecb by .5%, the swiss and other members of the g10 have all cut interest rates, showing global problems are best dealt with by global action. francine: so who knew about this, the 10 central bankers? lord king: yes, and among other people inside the central banking world. we did not brief the political world because that, i'm afraid in modern circumstance, means inevitably a leak. and that was the one thing that would have undermined the operation. francine: is that what makes the big

were probably all considering a cuts in interest rates, we agreed that he would speak to jean-claude trichetand i would speak to some others, and it became a g10 movement. it took about a week or so to put together. we changed the time of our normal meeting so we could announce at the exact same time, this coordinated interest rate movement. i remember we informed our politicians just before we did it. >> i think the house will want to know that the governor for the bank of england has just announced an immediate 0.5% cut in interest rates. he has done so in a coordinated action around the world in which the u.s. fed has cut interest rates by 0.5%, the ecb by half a percent, the swiss and other members of the g10 have all cut interest rates, showing global problems are best dealt with by global action. francine: so who knew about this, the 10 central bankers? lord king: yes, and among other people inside the central banking world. we did not brief the political world because that, i'm afraid in modern circumstance, means inevitably a leak. that was one thing that would have undermined the op

it's working, they have to do it quite slowly this morning i had former ecb president john claude trichet the topic was differences between things, relationships. we talked about taxes. i'd like to look at that whole topic in a different light feedback loops you know, after the crisis we had, in my opinion, many negative feedback loops, inversions, calibration of tax policy between countries, not calibrated correctly you had regulations growing on all sides of all borders globally, and, of course, we had central banks and lots of stimulus now, forgetting whether we needed them, we should have done them, that was the world we had. and that feedback loop started to grow, because when one something does something where government is growing, productivity is shrinking, makes it easier for other governments to continue. and the crisis was a big reason -- wow, pits are getting busy here. that's a short rate pit. maybe we should be watching the market, as well, but the distortions reversing, negative feedback loops are turning positive on taxes. you know what, as we lower taxes, other countries

well turkey is a free market economy and president trichet type add a one assured business is that he wants to keep it that way his comments come at a time when investors into alarmed by rapidly rising inflation which has hit levels not seen in fifteen years now while good for exports domestic companies are trying to pocket the money overseas a practice the government frowns upon. food prices in turkey are especially high but transportation costs have also soared this spike is especially hard on consumers but the rising costs are taking their toll on businesses too. the inflation rate has been on a rapid rise over the past year it's jumped to thirteen percent a level not seen for nearly fifteen years rising inflation is also putting pressure on turkey's currency for months now the lira has been losing value this is good news for turkish export hers the weaker currency makes their products cheaper abroad but this trend is worrying to domestic companies who are trying to ship their money abroad to avoid depreciation the turkish government doesn't like the practice but so far it's been r