>> let me start with uae witches very capable military although they are small. there forces in yemen have been quite impressive. i think you can appreciate the value in the saudi willingness to engage in the ground. i think that will be a challenge. it would be a challenge for them if they were to try to take that on. >> i fully concur with the uae forces. whether they have the capacity to do both yemen and something in iraq or syria is questionable for me. i think they're doing extremely well in yemen but the capacity to do more is pretty limited. >> thank you both. director clapper, one of the things we've been been struggling with, obviously, is trying to crack down on isis financing. they have multiple sources of revenue that include oil sales, taxation, taxation, extortion of the local population, looting of banks, personal property, and to a lesser extent kidnapping for ransom, foreign donation and more. i'm pleased to see some progress has been made where we have escalated tactics by targeting road tankers. these efforts have helped cut isis by up to 50%.

anything -- any meat behind what the uae financial -- >> uae is important. energy minister going into opec meeting saying he regretted nothing and no reason to cut. you have one of the key countries that's been a holdout now seemingly signaling a willingness to get on board. i'm still waiting to see, is it an agreement to talk or sit down barrels? uae will have to sit down barrels and we have yet to hear from saudi arabia. do they come out today or tomorrow and say they are ready -- >> how many grains of salt do you put on that meat? >> if this were venezuela, i would say totally discount it. the only reason i would be watch the story more carefully, uae has been consistently in the no reason to cut camp. so if uae is legitimately moving in the direction of a cut, that might mean saudi as there as well. but they have to do the cuts. they are going to be doing the several hundred thousand barrels plus of sitting down. >> thank you very much. >> now we'll really let you leave. >> we all leave, in fact. >> the show is over. >> thanks for watching "power lunch".

we turned around on energy comments from the uae energy minister, xle went positive.xxon go positive and chevron. what didn't is the financial stocks, slf stayed negative, bank of america never really rallied. bank of america is down 17 prsz, from $17 in the first of january to $11 today. thsz bank of america. i can't emphasize enough that people are just stare at this thing all day long, when is the bottom going to be hit at this point? i think if you look at the regional banks down 25%. none have global exposure or trading desks, all have been carefully scrubbed on the loan books by regulator by dodd frank and the street is saying, we don't believe the book value. and a lot of traders have been aper plek tick about this. mike mayo turned positively specifically because of this. i'm glad we turned around but there's been a lot of damage. >> you have to become -- whether you're a value or growth investors, you have to become a value investor right now and be patient in many cases, don't you think? >> it znltd make sense the regional banks are down that much. they are

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the uae oil minister said absolutely nothing new.s always been the position of uae, of the saudi's. if you cut, i will cut. i will not cut if you don't cut. they are in this mexican standoff. nobody wants to cut production until everybody agrees. this is what i heard from the ceo of post left -- of rosneft. we will cut if the saudi's cut, the brazilians cut. those are countries where the state controls the oil industry. shale producers, you tell them to cut, no one is going to cut. he said iran, is iran cutting? they've been -- imagine the mexican standoff. these guys have been in jail. they just got out. everybody has their guns out and they are being told to walk away. jon: really, the story is state versus private actors. on,'m hearing this going i'm wondering if it is going to gain traction. that is great news for me. i have decisions to make based on profitability. the state versus private scenario -- about how italking would be crazy for the iranians to cut production. that would be a subsidy for the higher cost producers. thes

it was the uae. don't discount that uae report because that represents a real shift in that minister's viewpoint. a month ago he was saying opec will never do this now he's saying maybe. so whatever. the market's looking for an excuse and that rig count was another one. says 28 fewer rigs this week than last week. that's a pretty big drop, and it's a trend. down now to if i've got my numbers right 439 rigs drilling, 1,000 this time last year. a lot of people say, hey, listen don't look at the rig count because there's already oil wells that are drilled and they continue to produce. so this is just wells down the road. so maybe it's not as big of factor but this market, liz was looking for a reason to go higher. maybe beaten down enough. finally. liz: i don't know. people should not be burned by this. they should not look at this and say, oh, time to jump in because we've seen low prices that have sucked people in -- if you want to anybody he will; right? jeff? if you want to nightclub around the edge

eastern when the uae minister said they will cut production, do you believe opec will cut out rates? >> very difficult to think it's going to go through, it's more wishful thinking and wishful thinking is not a plan. rumors could move the market temporarily, we have heard this rumor before. the $64 question, who is willing to cut by how much and for how long? everybody expects saudi arabia to carry the big weight and cut its oil production unilaterally. that obviously did not fly at all, and saudi arabia is actually increasing its production to force opec's hand. liz: hold on, hold on. you're saying that just as the uae oil minister is announcing to the world there's going to be coordinated cuts that saudi arabia of all countries is increasing output? >> absolutely. saudi arabia is actually increasing, has been oil production. it's a price war, they want to protect market share. every time saudi arabia in the past played the swing producer, when they come back to the market, the other opec member and non-opec member occupied their seat, took the market share. the big battle is betwee

uae is an ally of saudi arabia.nd that they have been a hold out thus far on cut to oil production. there's brent up about 5.5%. we'll watch that through the session. it has proven to be a leader for stocks. >> wake me up if the saudis are involved. >> we have to actually see it. >> maybe we'll see something over the weekend. holding out hope. certainly a move. or perhaps just an oversold condition after yesterday wti went to 26, which is a new low since 2003. >> which we mention best buy? oppenheimer is downgrading best buy to perform from outperform. it feels that the u.s. consume every spending is likely to moderate further in the near-term. that's brian neagle there. oppenheimer's best buy down just 2%. in a market that's ripping higher. the dow up 120 points. as you get short covering in general on some of those banks around the world led primarily, carl, from europe. >> yep. oppenheimer cutting not just best buy but bed bath & beyond to perform as they do say macro noise will inhibit consumers from making what

we have to know who the sellers are and i am confused as heck because we have that headline for the uae yesterday, turned out to be erroneous, it moved the entire market up. apple stock, we showed, soared. the moment an oil related headline came out, apple has nothing to do with the price of oil, that led me to believe that it is all algorithms, all machines that have certain string of words, opec production cut, whatever it is, they read those words, boom, started buying, are mom and pop selling stocks? who are the sellers here? >> i think they're foreign sellers. >> how do we know when the bottom is in. i don't know is in control of the dog gone market. >> that's the thing. we are seeing mechanical selling in the market. you see pressure on the market, every day. if you look, we have an intraday chart i sent over earlier, the s&p 500 composite from the prior close to 2:00 p.m. we're down cumulatively 15% on the year. if we had those last two hours of the day when the european markets are closed, the asian markets are closed, we would be up 4% on the year. you see the market just consi

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the uae minister saying that oprah -- opec is ready cooperate on output.ents are set to rise by 410,000 barrels a day this month. toanese traders heading lunch after 5% declines in the morning session. we have the latest from what >> is going on out there. >>it is not great. h frank fored lunc those traders in japan. extending those losses, the worst week since 2008. big falls coming through. generally you can see there has been a lot of heavy selling. steelmakers under pressure, comingcompanies under pressure as well. hsbc extending six-year declines. some pickup coming through the casinos. have wynn resorts coming through with its numbers. shares trading higher. across the rest of the region, apart from a pickup in malaysia and singapore after the selloff yesterday, it is widespread selling. this global bear market intensifying. that their extending market territory reached earlier this week. new zealand at levels we have not seen since october. a lot of pressure on equities today. rishaad: thank you very much. getting back to our top story. pressure bui

what's the intelligence community's assessment of the capability of the saudi and uae ground forces and how realistic do you think this proposal is, in other words, do you assess they actually have the political will to potentially do that. >> well, let me start with uae, which is very, very capable military, although small. the performance of their counterterrorist forces in yemen have been quite impressive. i think certainly appreciate and value the saudi willingness to engage on the ground. i think that will be a challenge. would be a challenge for them if they were to try to take that on. >> if i could add -- >> absolutely. >> i fully concur with the uae forces. whether they have the capacity to do both yemen and something in iraq/syria is questionable for me. i think they're having a tough -- they're doing extremely well in yemen but the capacity to do more is pretty limited. >> thank you both. director clapper, one of the things we've been struggling with obviously is trying to crack down on isis' financing. they have multiple sources of revenue that include illicit oil sales, tax

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my question is regarding saudi arabia and the uae and the other gulf countries. today we have heard about iran, a little bit about turkey. we haven't really heard about the sunny arab countries and what role you see for themle in the future of iraq. >> towards the middle on the left. it has been a long time since i have seen you. i believe it was around -- >> can you check that the microphone is on? >> yeah . it's okay. >> i was part of the iraqi opposition. and then i was an iraqi parliamentarian. now i am very active in the arab, sunni cause. i have listened to the excellent panel you have gathered. i have listened to the general saying in the past two, three years the forces taking iraq apart are much greater than the forces that are putting -- wants to keep iraq together. i have listened to ryan crocker -- ambassador crocker -- saying that we are looking at daj. it is a symptom. it's not the cause. i agree with you completely. we talked about the political solution before the military solution, general. whatever force you have, we have a really problem. in te

sparked by comments from the uae production minister that a cut could be coming. >> that remains to be seen though. a lot of skepticism on that. let's bring in anthony from grz energy. do you buy -- i mean, the market responded immediately, big rally. >> immediately. >> but there is -- everybody i talk to and every human being seemed to discount that that wasn't going to happen. what do you make of this? >> i don't buy it. if you look at the timing of those remarks -- >> somebody did. >> we were ready to make -- >> exactly, somebody did buy it. the weak shorts bought it. but if you look at the timing of those remarks, it came in at the point where we were ready to set new lows that were through 2003 lose for oil. it was right on the cusp of that and then if you remember, we were above $31 when this started and once we drop below 30, this looked very weak. i counted up a few lots and it looked like about 15 to 20,000 new shorts came in between monday and thursday of this week. you know what happened? they all covered today basically. >> what i was going to ask, people looking at the bro

a comment out of the uae, is it what the saudi's are saying?alk about where crude goes from here. let's bring back our guests, andreas utermann, simon derrick. we started with this slide in oil. ae markets have clearly moved little bit from there. how critical is that oil story as we put it back into the banks and the global economy? andreas: it depends what is causing the sliding oil question -- in oil. there is the demand question. is it the question of lacking demand, or china has come off the boil? if you believe the supply side story, and some of the u.s. shale production being taken out, it is less of a concern for the market. it is very difficult. we are kind of more on the supply story side, and we think the oil price is probably going to stabilize around here and maybe age back up towards $40. that is a tenuous argument. you can't go much beyond that. then the other producers come back in. tom: very tenuous. this is an approximation of oil, inflation-adjusted. higher disposable income. down we go in the 50's and 60's. cue the lawrence

kerry and others worked is -- has our allies and distrust us and bahrain and ohman and qatar and the uae and saudi arabia, kuwait, jordan, egypt, they're wondering if america has their back and it's bat question in light of america's recent actions, and also the iran nuclear deal stimulated a response that maybe so all these uncertainties israel. >>> when people hear dr. ben it's sometimes humannous, witty, clever, but there's nothing compared to 15 minutes, 30 minutes with dr. carson and hearing him dive deeply into various issues our nation faces and also listening to his heart. it's heart for the american people. and so if you look at the -- across all the candidates, is volume important or values? is -- >> volume or values. excellent. >> well, rhetoric or results. or wild proclamations or common >>> good morning and welcome to the home show. mike pace is my name. with temperatures in the 50s this week and snow melting, with that of course nut construction. we'll talk new construction with our guest today from iowa realty. if you're thinking open house, go to aye ayerealty.com. iowa h

we're going to support the rebels and the saudi uae backed off for a bit in terms of not threatening to give money as they will now to groups like al qaeda to counterbalance against what they see is the rise of iran and russia and assad but look, there's no question this is a great victory for the russians. assad is in power and the deal of the cease-fire is absurd because the russians are saying we will continue to fight jabhat al-nusra which is the al qaeda syndicate. great, but the reason that the problem is that up until now russia has been saying every day all we are seeing is bombing jabhat al-nusra and isis but they include the free syrian army, more moderate elements inside the orbit of jabhat al-nusra so it essentially means what's going to happen is that the russians with assad will seize control of the western areas of syria, purge the sunni populations from those areas will then go and join isis and the moderate elements at the heart of why you would want to find a politicalcompromise in the middle east will be eviscerated , both in terms of their political credibility an

. >>> to a different kind of hero the crime fighting shopper who helped fight a runaway suspect in uae oregon. a man rolled his shopping cart right into the suspect's path, knocked him to the ground. police pounced, took him into custody. and the shopper calmly picks up his cart and keeps on shopping. police posted the video thanking their shopping cart hero. right place, right time. >>> still ahead, this is what is left of a house in north carolina. we'll tell you what caused the explosion that levelled this home. all across america families are coming back to time warner cable for a whole new experience. pwe came back for internet speeds so fast even the kids are impressed. oh she's impressed. we're catching up on movies and shows on demand just as fast as we can watch them. twc's home wifi is so strong we can use all our devices at the same time. come back today. you'll get 100 meg internet, tv, phone and more for $89.99 a month. and now, get a $300 reward card. call today. attention parents: all kids entering 7tht must get ther meningococcal vaccine. it protects against serious and

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>> well, let me start with uae, which is a very, very capable military -- although small. the performance of their counterterrorist forces in yemen have been quiet impressive. i think -- quite impressive. i think certainly appreciate and value the saudi willingness to engage on the ground. i think that will be a challenge -- would be a challenge for them if they were to try to take that on. ... personal property, and to a lesser extent even kidnapping for ransom and foreign donations. certainly pleased to see progress has been made with the us coalition forces have escalated tactics while targeting road tankers and even cash storage sites in these efforts have helped force isis to cut its fighters pay and some reports by up to 50%. what additionally do you believe we can do to further restrict their financial resources? >> you have outlined pretty much the sources of revenue for isis and they have a very elaborate bureaucracy for managing their money. i think that important thing is to sustain that pressure on multiple dimensions. to include going after the oil infrastruct

oil trading at $26, a 12-year low, turned around on remarks of the uae opec minister that opec may agree on some kind of production costs and no one really believed that. but the world changed, everything reversed. oil rallied, bond yields rose, the yen weakened, stocks rallied. that trend continues into friday. the s&p rallied about 50 points since 2:30 p.m. yesterday. this is all the more remarkable because we're going into a three-day weekend. and you know the drill. with all the volatility, traders are wary holding positions when china will reopen monday and our markets were closed but that apparently was not a worry today. if oil puts in a convincing bottom that would be important. but nothing has changed to indicate that it has. it's amazing. next week we'll hear from ecb head mario draghi who speaks in brussels monday. we'll get japan's fourth quarter gdp and hear from big retailers including walmart later in the week. >>> the market plunged to start the year, has some investors wondering whether stocks are signaling recession. others say the economy is saying, no way. today peopl

the uae has been a critical partner4/ here. g these are young people from all around the region working 24/7 to combat the messages. they have had a pretty good all effect, particularly with the campaign that highlighted the defectors from isil that told the world what it was like to be under this organization. tion so i think we're actually making some progress on the messaging campaign. and e working withes twitter. facebook and twitter took down 125,000 affiliated isil relatedt sites and the messaging gets 20 easier when we're making progress. if you're doingwh a messaging n campaign for the washington redskins when they'retheir f wil it's easier than when they're losing. when they put out the videos oft the flag going from iraq to syria to italy and to rome, they really can't say that with anyn credibility anymore.xpl their message is now -- their spokesman, most of his statements now are defending the fact, explaining why they'ret, losing so muchin under territor. so it's changed quite a bit. but we have to remain at itimi

at 2:30 you had the uae headline. stop the s&p on a dime at 1810. steve and i have been the 1780 camp. maybe close number one. after market jamie dimon, all love jamie dimon, he announces he's buying jpmorgan stock. geffen they're critically the all clear for banks and then the deutsche bank headline overnight. >> right. >> those three things confluence of events long weekend. >> does that address the major concerns in. >> i'm not saying that i knew the market was around but what we did say yesterday, whatever starts today, whatever that initial move is don't fade t.marbling it open on the lows of the day and close on the highs. >> i do israel. >> that's power going into a weekend, especially when people are like the chinese will come back from their holiday and it's a case where it's back to business and back to fearmongering, but the things we talked about yesterday, i thought dan nathan made an interesting point and challenged me on the negative feedback. that implies that it's not real and what you have here in the case of oil, nothing happened

late yesterday, the uae said opec members are ready to cooperate in production cuts. how many times have we heard this? from russia, from iran, it was rumored. venezuela set it. none of that has come to fruition yet, but it helped to boost crude higher. what i find interesting is when 4% or 5% and we are still only at 27.41 a barrel. it has been a rough week for crude. janet yellen also spoke of her surprise at how far oil prices have fallen. janet yellen: markets have been and we have been quite surprised by movements in oil prices. i think in part they reflect supply influences, but demand may also play a role. matt: let's get more with stephen schwarzman -- with stephen. before we get into concerns about the macro environment, what do you think about these reports that opec may hold talks and may cut production? if you are willing to buy oil based on what the uae or what nigeria or venezuela are saying, i will sell you all the oil you want to buy. so until the saudi's come out and say something, until they with iraneally ok building a nuclear arsenal, and i am real

the uae has been key. we want to set up a similar hat because it's a very different messaging propaganda component to east asia and also europe is a different campaign there. we have to check back 24/7. in terms of the air contribution , the saudis put in $500 million into iraq humanitarian at a critical moment and i'll never forget that being in iraq it was to critical data and the money went to good use and saved enough a lot of flies. the donations from the state i filled donors conference there were some pretty good contributions, but all have them back to the details. >> i yield back. thank you, mr. chairman. thank you. mr. chris smith of new jersey. thank you, mr. chairman. thank you for calling this important hearing on mr. mcgurk, welcome to the committee. let me just after a couple questions. while the administration's focus is on isis, does the focus of isis risk allowing others to grow in strength and what is the plan is another like-minded groups on monday after -- you point out that foreign fi

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. >> defense secretary ash carter has said the uae has offered to send more fighters to syria. the u.s. ally will help train sunni arab fighters focused on capturing raqqa from i.s.i.l. >>> iran and saudi arabia clarified their intentions in the region. al jazeera's dominic kane. >> a dominant theme here at the munich security conference on its first day of deliberations. a succession of speakers chose to stress the dangers posed by terrorism and the islamic state of iraq and the levant, the saudi foreign minister also spoke about why it was fundamental to combat daesh, i.s.i.l, but he also had a very pointed message for syrian president bashar al-assad. >> in syria we are working to bring about change, political change, if possible. to what is happening in syria, in order to remove a man who is responsible for the murder of 300,000 people, the displacement of 12 million, and the destruction of a inflation. a man who has -- who is the single most effective magnet for extremists and terrorists in the region. >> the main backer iran has been steadfast in its support for him since

skepticism about the main policy movements they have at the moment, the negative interest rates and the uae rates increased doubts about banks stability and that is part of what contributed to the selloff last week. there are still questions about qe effectiveness. francine: you wrote a great piece. we encourage people to look at that piece. this is a problem for central banks across -- around the world. in the past, he would come in and say whatever it takes i will do it and the markets would go up on the back of it. and now they want to see more action. jeff: exactly. at the same time, it is not clear that any old action will do. ecb wentioned, if the further into negative interest rates, you could expect the banks to suffer from that. therefore, the magic wand approach that he has taken in recent years may not simply be so available to him anymore. francine: thank you so much. quickly on the markets. we are seeing an uptick overall for european equities. it is president day in the u.s. so bonds and stocks are closed. saying they by hsbc will keep their headquarters here in london. the to

we have also find out -- found out in the last 230 six hours is that the bank of japan, and even the uae, speaking for opec, can talk markets into a greater sense of calm app. we would not be surprised if the bank of japan decided to intervene in the next two days, when the trading desks are short staffed. betty: they have not been happy how the currency has traded since they went negative. a and they were less that was policy error. the japanese investor psychology is much more tied into the bond markets and the u.s. psychology. we have seen, for the past 25 years, when there is a feeling that the economy could let back into recession, which this may have been a signal, money comes back to japan. that is what is happening now. but we think they have plenty of firepower to moderate things. betty: what do you think, if we do close of the high of the session today, what does that set us up for next week? absolutely it sets us up for something next week. at halloween here has unfolded, the fact that people are willing to close stocks at the high today, in front of a three-day weekend, when

hub.ve a 24/7 the uae. people from all around the region working 24/7 messages.the they've had a pretty good effect particularly with the campaign highlighted detectors in their own narratives and what ity told the world was like to be under the organization. i think we're making some progress now. closely with twitter and youtube. down 125,000 sites. it gets easier. if you are doing a messaging easier when the team is winning. in 2014 when it looked like isil march, they put out the videos of the flag going syria and to rome, they can't say that with any credibility anymore. messages now and spokesmen and most of his statements are the fact explaining why they are losing so much territory. it has changed quite a bit. to remain at it 24 will 7.e there's a different message mess propaganda in east asia and europe. it's a different campaign there. 24/7.e to check that in terms of the arab saudis put in the $500 million in direct humanitarian at a critical iraq. in i'll never forget that being in the iraq. the

uae has agreed to send soldiers to syria to locate sunni arab fighters. that is the islamic state group's capital. forces from the key persian gulf ally would train local fighters. george clooney and his wife had a private meeting with angela merkel to discuss the crisis in efforts inurope's the refugee crisis. clooneys plan to meet with refugees in berlin later today. local news 24 hours a day powered by our 2400 journalists, and more than 150 news bureaus around the world. still ahead, two german banks grabbing headlines. commerzbank delivers on its earnings results and deutsche bank surprises with a massive debt buyback. ♪ mark: welcome back to bloomberg markets live from london and new york, this is the european close. i am mark barton. betty: i am betty liu. together the most influential names in sports, and technology about the future of nbaindustry at the annual technology seminar. live at the event with the director of the boston celtics, steve pagliuca. wear many hats and being an nba team owner is just one. one would say the biggest opportunity

we did have the comments from the uae oil minister saying that oil prices are going to force production freezes. that's a jab at iran here. a couple of reasons that you could see support for these. back to you. >> thank you for that. it's 8:00 a.m. at apple headquaters. it's 11:00 a.m. on wall street and squawk alley is live. ♪ >> good thursday morning. welcome to squawk alley. and along with business insider ceo. it's good to have you back. and it's google ceo supporting inkripgs on a series of tweets. we build secure products to keep your information safe and we give law enforcement access today at a based on valid legal orders but that's wholly different than requiring companies to enable hacking of customer devices and data. >> this has been kicked around for 24 hours now. you're not with the tech community on this one. >> this is a very, very important precedent. and it's great that we're having a national debate about it. the other troubling precedent here, now given the encryption on all the phones and devices, effectively anybody can communicate in secret all the time, do everyt

in bangladesh, the former champions beat the uae earlier. overhaul the emrates told. the world t-20. well, concealed their spot on sunday's final with victory on tuesday. the men in blue can make it 3 out of 3 by be beating sri lanka. following his match winning 49 against pakistan. >> because he was going through a very good spell and he needed somebody to show some intent including the way he defended and the way he attacked. obviously we knew when he got a 20-30 partnership, there wasn't ohuge score on the board, that showed a lot of growth and courage and that was encouraging on the side. >> a nascar driver had to make an unexpected exit. getting the worse of a four car smash at the georgia track he was able to escape unharmed. the race was won by jimmy johnson, now level with the late dale earnhart on the all time list. >> and that's all your sport for now. it's now back to lauren in london. >> farrah, thank you very much. it was offer before it even began. >> three two one zero. okay we have launch abort. >> u.s. rocket company spacex had to cancel its expected

uae was above the united kingdom and below belgium. you can find out much more on our website about the stories we are following. top story about those air strikes in syria. there will be plenty of analysis there too. that's it for me. i'll be back in just a moment with more of the day's news. show at 11:00 eastern. >> we start with breaking news. >> let's take a closer look. >> at 9:30 - "america tonight" - top investigative reporting, uncovering new perspectives. >> everything that's happening here is illegal. >> then at 10:00 - it's "reports from around the world". >> let's take a closer look. >> antonio mora gives you a global view. >> this is a human rights crisis. >> and at 11:00 - "news wrap-up". clear... concise... complete. >> mdma helps with the therapeutic connection. >> exclusive access to the... >> our fears are dancing between us. >> techknows team of experts show you how the miracles of science... >> this is what innovation looks like. >>...can affect and surprise us. >> i feel like we're making an impact. >> awesome. >>

comments to ministers in the uae as well as iran about the production freeze that could be coming from the oil market so the move in oil has been reflected by the move in equities. revenue also helped by a surge in hotel bookings and that stock is up 11% this morning. >> when we come back to 2015 having a tough 2016. amazon and netflix down more than 20% to start the year. what to expect from these and other high flying tech names. plus an awakening in vr. a look at the future of star wars and virtual reality with the top executive from lucas film and we're keeping our eye on the markets. s&p up 115 points in 2.5 sessions. back to 1921. we're back in just a minute. all of those are down sharply year to date. the best performer is google which is only down about 7%. competitor price line topping on earnings today. expedia with a sympathy bounce. mark is the lead internet analyst at rbc capital markets and we're only 10% through the year so there's obviously a lot of time for these companies to turn it around but do you worry that so much value has been destroyed in this early part of th

the form he t-20 world champions beat the uae earlier. to overhaul the emratei emirati. >>> since the start of this year the long brim handled putter scott has favored has been outlawed. scott's third tournament since the rule change and won by a single shot from sergio garcia. >> good for everybody who likes talking about it absolutely and therefore good for me because maybe we don't have to go over it too much anymore. but again it just reassures me i'm on the right track with the things i'm doing. >> and onascar driver had to make an unexpected exit during a race at atlanta's motor speedway on sunday. eric amarola getting the worse of a four car be smash. jimmy johnson won, and has equaled dale earnhart. barbara back to you. >> it was over, finally, before it began. >> three two one zero. >> the u.s. rocket company spacex had to cancel its planned launch just moments before liftoff. the 23 story rocket had ignited its engines and blast off when on board computers had aborted the mission. the launch because scrubbed due to various techn

hearing in the defense community saying why don't we persuade countries like saudi arabia, like the uaer, turkey, to take out isil, and then use that area to then use a bridge head against assad's forces. but the saudi foreign minister says no, we have got to get rid of assad before we destroy isil. >> it's worth repeating isn't it, there isn't anybody who has signed up to anything at the moment, is there? there is a bunch of people who have said this is a good idea and that's as far as it has gone. >> it isn't even a ceasefire, it's a cessation of hostilities. and the people that agreed were the international community. not the people on the ground. although there is one important player that is involved militarily, and clearly that's russia. and russia's bombardment is what has changed the military picture in the past six months. >> how can russia possibly say we want to see the hoes illties ended and continue on a booing campaign which has lead to more deaths within the last 24 hours. why is it allowed to do that? >> i think it's interesting too, when we heard the announcement of thi

[ inaudible ] profits of maybe 50 or $60 million over the next ten years, and that will stay in the uaet pakistan. so primarily the main thing, i think why this is important is it is going to give a troubled and embattled cricket board, it is going to give them a pretty big revenue stream and a stable one. >> and how will that money actually help cricket in pakistan? >> well, because they have not been able to host cricket in pakistan, the economy has suffered a little bit, so there are stadiums that are in need of upgrade in pakistan. [ inaudible ] since 1996. [ inaudible ] pakistan that is in need of repair all the time. and you can never make those repairs without that money. players need to be paid a lot better than they are. so for them to develop this, it is just going to improve the quality of cricket in the country, i think the money is vital. >> will the psl ever play in pakistan? and if yes, when will that happen? >> i don't think it will happen for at least three or four years. and they are going to have to host a couple of more series. they hosted zimbabwe in 2013, and even

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