For some economists, but stocks over there are in the green. Our roadmap begins with the coldest arctic blast in at least 20 years affecting more than half the nations population. Wreaking havoc on commutes, travel and businesses. And the s p meanwhile looking to avoid doing something it hasnt done in a very long time, that is, a fourth consecutive time since the start of the year. Morgan stanley downgrading netflix from underweight to equal weight. And scott cohen reports Jpmorgan Chase officials will avoid madoff related penalties and jury selection begins for the inside trading case for s. E. C. Capital Portfolio Manager Matthew Martoma. A deep freeze is gripping much of the u. S. Forcing businesses and schools to close canceling thousands of flights. Its one of the coldest arctic outbreaks since the 90s and its taking a toll on the midwest, the deep south and even the east. That news is sending natural gas futures higher, its the lead of the usa todays money section. Talking about
Season, jpmorgan and wells fargo out with mixed results and well tell you exactly what you need to know. Charter Communications Says it wants to buy time warner for 132 bucks in stock and cash and twrawrm says how about 160 . Well get a reaction and exclusively interview with tom rutledge in a few moments. Google is buying nest labs a maker of Smart Thermostats and smart smoke alarms for 3. 2 billion, it would be the second largest ever in googles history. First up stocks are trying to bounce back from that poor start to the week. The dow coming off its worst day since september and experiencing its first 1 drop in three months. S p and nasdaq posting their biggest drop in over two months and the Bank Earnings are in the spotlight, jpmorgan and wells fargo out with quarterly results. We can talk about the bank or some of the internals, the mortgage internals, theres a lot to talk about. All people seem to care about perhaps we are out of the banking wilderness and were going to begin t
Issue basically in france right now, 11 unemployment. Japan suffers the first negative effect of the sales tax hike in april. Retail sales in the country fell at their fastest pace in three years. Youre watching worldwide exchange. Bringing you Business News from around the globe. A warm welcome again to todays edition of worldwide exchange. Lets get to one of our top stories straight away. Apple is buying beats electronics for 3 billion to boost its music business. Streaming services encroach on itunes. Apple doesnt only gets beats streaming service and its market leading highend head phones but high profile talent. Beats cofounder jimmy ivin and dr. Dre, too. Now, apple expects the deal to close in its fiscal Fourth Quarter. Tim cook tweeted this photo, saying, sharing a laugh with jimmy and dre. Interestingly for apple here, what do you think of it . I think its an interesting move. Because over the sort of past 20 years apple has been very much seen as a product innovator. And this
No longer fulfill his responsibilities. German cardinal yosef razinger was 75 years old when he became pope following the death of Pope John Paul ii. Benedict xvi was a conservative pope. He strongly worked for his control. He faced the generation and joined twitter last year. He took his turn on handling sexual abuse scandals to an investigation of money launderring in the vatican city. He accused his butler of stealing and leaking documents that pointed to corruption in the vatican. The pope pardoned him over christmas. Its rare for a pope to resign. Pope benedict is the first to quit in nearly 600 years. Senior members of the Catholic Church will now start planning their conclave, the meeting they hold to choose a successor. Leaders around the world are reacting to the resignation. She had the highest respect for the popes decision. Translator Pope Benedict xvi is and will continue to be one of the most important religious thinkers of the age. U. S. President barack obama extended t
Hello. Welcome to the final Worldwide Exchange of the week. Im ross westgate. And im kelly evans. These are your headlines from around the world. Eu leaders are nearing a historical deal in brussels which could see the regions spending reduced for the first time. Chinese trade going gang bust ner january while inflationary pressures ease off thanks in part to the Lunar New Year effect. This company must not disappear. Thats the french government. It says it may invest in peugeot. And the yen says the currency has weakened too much. Welcome to the final program of the week. Im pleased weve got to this day. Weve had a lot of time together this week. I have. And thats not why im pleased we got to this day. Yeah, yeah. Strong numbers out of china. Thats right. We saw a big improvement there. But i have to say frankly, most peoples attention whether its here or on the other side of the pond is the snowstorm. It seems like winds, 50 miles per hour. Blizzard conditions in the u. S. We know wh