Page 4 - 720 Billion News Today

Sizable pay cut and so do a host of other government programs including long-term unemployment benefits. a fiscal hit of hundreds of billions of dollars. and that effect on the u.s. economy may be less damaging than most economists predict, at least thats what an analyst from the left-leaning center for budget and policy priorities writes, writing: the economy will not go over a cliff and immediately plunge into a great recession in the first week of january. he argues, if congress fails to reac...

the man in charge of a global network that owns the tv challenges. book publishers and newspaper. a report says news corp is considering replacing murdoch. they say its not a done deal but it depends on what happens when murdoch appears in front of the british parliament tomorrow and hell answer questions of hacking phones of royal family members, celbrities and hacking done by "news of the world." if murdoch is replaced it will be a bombshell on the scandal. a scandal that grows more ...

we begin with breaking news. a report the phone hacking scandal thats already ruined careers caused a popular british tabloid to explode may be on the brink of claiming its biggest victim. im talking about the news corp ceo, rupert murdoch himself. the man in charge of a global network that owns the tv challenges. book publishers and newspaper. a report says news corp is considering replacing murdoch. they say its not a done deal but it depends on what happens when murdoch appears in f...

when murdoch appears in front of the british parliament tomorrow and hell answer questions of hacking phones of royal family members, slibties and hacking done by "news of the world." if murdoch is replaced it will be a bombshell on the scandal. and the latest, a whistle blower found debt in his home, john hoare and the british police say his death is being treated unexplained but not thought to be suspicious suggesting it was a suicide. this scandal is rocking britain but seems ready ...

Take a look at these numbers that we have for you and the cost of a meltdown. the nuclear regulatory commission commissioned a study to determine the cost of a nuclear disaster and estimated 50,000 debts and 314 billion in property damage, adjusting that amount for inflation brings us to the 720 billion that you see here in todays money. now back in the 1950s, the government capped the liability for utility companies. that cap adjusted for inflation is currently $12.6 billion. but i want to take...

Who do you think? all of this great research comes from the folks at cnn money.com and joining us now live from our new york studios is steve hargraves. who pays the difference? >> well, we would. the government has no emergency fund for this set up beyond the industrys 12.6 billion. so the taxpayers would have to pay it and the government would have to go out and raise that money. >> lets talk about the $720 billion number. how accurate would you say that is? i understand theres a little bit of...

Japan. $720 billion, that is the number that were hearing of how much has been wiped off the value of the japan stock market. thats an incredible number. and this is why. theres been another big, big selloff today. if you look at the nikkei 225, down by 10.5% at the close, it was down by 14.4% at one stage today. this was panic selling. the market players in japan were saying that everything was being sold today, particularly by the big hedge funds. they were just dumping stocks. you had this ...

>> thats right. between the two days, something like -- well, if you look at the entire tokyo stock index, something like $720 billion in value has been wiped off the value of japanese companies. it sort of puts it in context just how big this selloff has been over the past few days. as you say, 6.2% yesterday, and another even bigger fall today. 10.5% down. this is the nikkei 225, which looks at 225 of the biggest companies in japan. at one stage today, the nikkei was down 14.4%. even as it sta...