Cap off the best quarter since 2004. We have a labor market improving. Gasoline prices which remain low. The number coming in at 93. This is university of michigans confidence reading. 95. 4 is where it was in february. The average from january through march was the highest we have seen ends the Third Quarter of 2004. If you look at the various components within confidence you want to look at the Inflation Expectations in particular. It looks like Inflation Expectations over the next year remaining at 3 , which is what economists had predicted. We will continue to look through these numbers. Overall, not seeing as much of a drop in the confidence number as had been anticipated. Matt thanks very much. Breaking the march news, the Consumer Confidence number they are at 93. Number there at 93. The top business stories of the morning. Big news out of washington. The most powerful democrat in washington will retire. Harry reid will not seek reelection. He has been the democratic leader for
Won reelection. The labour party not. They likely will have to form some sort of Coalition Government with the Scottish National party. There he is. Arriving at 10 downing street as i mentioned, with his wife. He will be making further remarks on the future of the u. K. We will be hearing you any of his comments bring you any of his comments as soon as they cross. In the meantime mcdonalds april Sales Numbers back in the u. S. , just crossing. I want to get straight to the breaking desk with julie hyman for details. Julie these number are not as bad as analysts estimated, but the beat is coming from outside the United States. The company has not yet seen progress here in the u. S. Overall, the global samestore sales number was down half what analysts estimated. A drop of zero point 6 . In the u. S. , the decline was deeper down 2. 3 , exactly in line with what analysts predicted. Looking at the beach, it is coming from outside beat it is coming outside. Exley rising 1 . The estimate wa
50 or 100 years. This is the real thing. And much of what went wrong on wall street could be traced back to something called credit default swaps. They were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] it has tentacles as wide as anything ive seen. I think, next to housing, this is the single most important issue in the United States and certainly the largest threat to the u. S. Economy. Meredith whitney was talking back in 2010 about a then looming financial crisis involving state and local governments across the country. It was a debt crisis which some people believe could derail the recovery and require another big bailout package that no one in washington wants to talk about. The day of reckoning has arrived. Thats it. And its gonna arrive everywhere. Time may vary a little bit depending upon which state youre in, but its coming. [ticking] welcome to 60 minutes on cnbc. Im steve kroft. In this edition, we look at three stories lin
Japanese gaming unit now forecasts an annual operating loss. And intels Fourth Quarter figures missed forecast. The Company Giving Fourth Quarter guidance raising fresh concerns about global i. T. Spending. Hello. Warm welcome to the presume. Plenty to get through and lots of news. Also coming up on todays show, as taper takes its toll, Goldman Sachs speaks income trading, well speak to the ceo of the International Giant about the impact of markets. Hell join us at 11 20 cet. China mobile is now selling the iphone 5 after six years of negotiations. Well have the latest from beijing with all the action. Thats at 10 45 cet. Is nintendo losing the game . Japanese gaming giant has delivered a profit warning on weak, weak console sales. Well get the full story from tokyo in around 30 minutes. Intel has posted a slight miss in its profits. Investor sentiment will have a closer look in the second hour of the program. And just a little south in sunny l. A. , were going to roll out the red carp
Deep discounting at stores could bring them short of its target. And global pc shipments slump in the Third Quarter, missing out on the usual back to school boost, but Chinas Lenovo says competitors are taking away more sales and market shares. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Hello and good morning, everyone. Youre watching a brand new edition of worldwide exchange. Ross westgate is out today, but weve got a jam packed show for you. On todays show, the bank of england is expected to maintain its record low Interest Rates, but wa do unemployment levels in the uk mean in the banks for guidance . Were live at 10 10 cet. Shell may be licking its wounds after big losses on sales, but russians tnk says is it hit big on a recent boom. We speak to the chairman, also known as the prince of pipes. Brazils central bank has increased its benchmark borrowing rate with no indications it will slow the pace. We talk to the ambassador of br