Cory johnson has details on google and barnes Noble Partnership to take on amazon. Olivia sterns looks at tax shelters used by the ultrawealthy. Alan mowbray down the alan will break down the food and import ban on russia and the u. S. It is imposing a sweeping ban from the u. S. And europe. Joined on the phone with the very latest. How are the russian people reacting to the news . Are they are likely to see Food Shortages . The government reassured the russians, saying that there will not be any Food Shortages. Russia would not be going back to the soviet or the early 1990s type shortages. There are concerns that one of the biggest and publicly traded , whichant holdings manages the tgi fridays franchise in russia said the government a on food imports would cause difficult situations for restaurant businesses. There is concern. Do we have ideas of how investors are reacting . Index fellian market to a threemonth low, led by the biggest russian retailers. Some of them falling more than 5 . Investors are concerned about this. That the import ban would hurt the earnings of the biggest russian retailers as they scramble to find replacement for foreign imports. Ksenia galouchko joining us from moscow. Lets look at how the import ban will affect the United States. Joining me from washington, alan. What is this move having on the markets . Market mostthe affected his goal. Ukrainian tension has folks looking for safe havens. Food markets are not moving a lot on this. The United States does export about one point 3 billion of food to russia in the course of a year. We have a 150 billion dollar food export economy. The level is about the same as the demented republic. As the dominican republic. Could be ad this likely target of russian retaliation. That day has arrived. Of fooda has a history trade restrictions. Tell us about the history. When you look at poultry markets, as recently as late in the last decade, russia was the number one export destination for u. S. Poultry. It has gone from about 40 in 7 today. To it is getting headlines now. Has is a market that already been affected before this. Onhow do these restrictions food trade work and isnt likely to have any lasting damage on u. S. Businesses . Likely to have any lasting damage on u. S. Businesses . In the 1980s, the Carter Administration had a grain embargo. It did not work. Food markets are very fundable. Russia is trying to punish the United States by not buying its food. There are other people that can buy the food from the u. S. And the russians will find other sources. There will be some disruption, some of food inflation impacts. Companies will address will adjust and it will get back to a new semblance of normal. Alan bjerga joining us from washington. Now, the battle over books. Google is teaming up with barnes noble to take on amazon. Com. Cory johnson is in San Francisco with more. Tell us about this new deal. Has had a local Delivery Service and a handful of cities with a number of retailers, such as best buy. What is interesting is the partnership with barnes noble. It is showing that they are doing the same kind of business as amazon. Com, delivering books within four hours time at their front door. Google is not taking inventory. They are store doing this in a handful of locations. They will go to a barnes noble store that has been selected by barnes noble, the book is packaged up and then the google truck will pick up the book and bring it to the user. I think it shows and shines a light on the competition this new competition of local delivery. Google, andzon, ebay making serious efforts into this arena. Why is google doing this now . The big impetus is amazon is changing their distribution model. Within the last two years, they have agreed to pay local sales sales taxes,te where consumers are buying things. They have had to change their business model. They used to keep distribution centers, they used to call them , they aret centers moving from places like nevada in low tax states to much closer to consumers. You have them just outside of major cities and increasingly building big places. To be closer to the consumer, that allows them to do this 24 hour delivery. That will cut the slumbering giant of ebay and google. If they can do that, we can do it too. Speaking of feeling fulfilled, amazon is such a giant. Do amazon and barnes noble stand a chance of catching up . To be a is going rigorous competition. Barnes noble is fighting the huge disruption in the business caused by amazon. What this does not do when people want a book right away, i get it on a kindle. People like me, we still buy a book and put it on the shelf. Amazon sells more digital books than print books. That is the future of the business. This is one way for barnes noble to keep up with this pace of change. You have shelves . And graduations. Lots of shells on lots of books. Switching gears. As the ebola death toll rises, hearing on the virus will be underway in washington. Global Health Experts have gathered for a meeting of the world health organization. Washington with the latest. What can we expect to come out of this meeting . They are on day two. The final day of the emergency meeting. The big decision whether to label this as a Public Health emergency of international concern. To do that, the who will have to look at the numbers and the spread. The death tally mark, 932 through monday. Nearly all have been in lyon area have been in liberia, sierra leone, and nigeria. And ginny. We will not get a readout of the meaning until late tonight, early tomorrow. What happens if the who does give it the classification . The classification would give local Health Officials and International Authorities more tower more power to respond, to quarantine people if they need to. It would also mean more funding. It will come with recommendations on what to do next. Treatment, itated will be interesting to see what that looks like. The emergency could be taken as a signal by the private sector and we could see a trigger companies to evacuate nonessential employees. Else we are waiting on, next week marks the who convening a the use of experimental treatments of treatments for ebola. Isnt it a little late for the who to be convening all of these meetings now . That is a great question. Who should have taken a Stronger Leadership position earlier in the outbreak. Reaching a point was not easy, giving the political sensitivities. They have a viewed themselves as a technical advisor. Respect the sovereignties of these nations could be a reason behind this delay. Thank you. Coming up, the mayor of syracuse, new york. What she is doing to invest more in her citys neighborhood. Departmenterce reports increased spending in the Second Quarter at an annual rate of three. 1 . The biggest jump since 2009. Syracuse, new york is leading the way. The mayor joins me. Welcome to bottom line. Thank you for having me. What is the blueprint for coming out of the recession poised for growth . During the recession, we were fiscally responsible. We made sure we did not bond for anything we did not have to and we made tough choices. We went into a hiring freeze, we did not extend ourselves. But we have had to do was cut back on infrastructure repairs. What we are looking at doing now, we have put the worst behind us and we have increased bond ratings. We are focusing and talking with other partners about how can we make the needed investment in infrastructure. Since you mentioned infrastructure, is it time for the folks in washington to reengage in the conversation about an Infrastructure Bank . Would that help . It would help. It is one potential solution. Whether you are looking at a water main break in los angeles that is covering ucla or in syracuse, new york, were in detroit, we are seeing the infrastructure across the country crumble. On citiesy is based in the Economic Development of the cities. If you have gas leaks and problems in new york city, or water mains exploding, were not going to be able to build these kind of economies that are going to poison up for leadership in the century. One of the top drivers of cost in your city is pensions. How is that impacting your Budget Priorities and what have you told retirees about the need to keep the city fiscally solvent, but at the same time, honoring commitments made to them . Constitutionally and guaranteed by the state. What we have said to our retirees as we are going to meet the obligations, but we have asked them to be conscious of how much it costs us in the dash and the reality is if we are paying all of the money in pensions and health care, we cannot buy new police cars and fire trucks and it has forced us to make tough decisions. Worst partduring the of the recession was to make sure we paid the pension bills, though we cut back on other things that are not luxuries, but were discretionary. Some of my colleagues chose to borrow for their pensions. We did not. That ouring told highest pension contribution rate is going to be coming up this year and there is a light at the end of the tunnel. That will free up some more money. Health care continues to be a huge issue for us. It is for all governments. We are speaking with the mayor of syracuse, new york. Many cities feel their fortunes were fortunes rise and fall because of housing. How did you keep neighborhoods from turning into blighted areas . We were fortunate. In the housing bubble. Our housing costs have stayed relatively stable for the past 20 to 30 years. We were able to escape that. We have had light in our housing and city as well. We have looked at other models that are working. We have a brandnew land bank. One of the first in the country. We are taking our properties that have been abandoned and we are giving them to the land bank to market them and turn them over. Notst to that, the city did take over properties for being taxed to link with because my theecessors did not want liability of owning the properties. We put the land bank into place and said were going to take your property away what i did is three things. The first is, people started paying their taxes. A realize we were serious. The second is, gave hope to neighborhoods and people who lived in our neighborhoods to say, the city is going to do something about that blight. The third is, it put the properties into an entity that can focus singularly on making sure that the property gets turned around and put into the right kind of hands to make sure that it is part of a neighborhood and has the right kind of ownership. Citysmajority of your budget is being spent on education. Many instances of cities are spending money on education only to see little or no return on the investment. How are the education dollars being used and where are you succeeding where other cities have not . You are right. When you look at education, part of what you have to look at is the same things that we just talked about. Pension and health care. Servicebasedis a entity. When you look at the Discretionary Income that they have that we have to implement new programs, it is limited. Nevertheless, we are doing that, looking at models that are succeeding, focusing on afterschool programming, summer programming, so that we can have a model that brings those services into the classroom, social services, mental health, physical help, but focuses and allows families to have their children in a caring, healthy environment so that they can learn. I have less than a minute left. Last month, you requested federal officials establish a site in syracuse to house immigrant children awaiting deportation. What reaction have you had from the white house and the people of syracuse . What i did, the federal government had said one of the sites had passed the initial assessment. I said to the president that we would welcome being a site for these children in the humanitarian crisis. The response from the city of syracuse has been positive. Some negative response from others outside the community. Some from inside the community. We think our history of a city, a welcoming city, showing that we are compassionate. If we can help solve the problem for these childrens, we are going to be there and do that. The white house is very thankful for that and we continue to communicate with federal officials about whether theres going to be a need for this. The mayor of syracuse, new york. For having me. Coming up, mind the gap. How tax shelters make Global Inequality even worse. The top 1 is rich beyond measure. The wealth of the super affluent is going uncounted. The findings are adding fuel to the debate over Global Inequality. Olivia sterns has been looking into the reports. She joins me. What did you find . We have been lowballing how rich the really really rich are. Is, these portions that they have today, the span multiple continents. They have assets all over the world. They deliberately hold huge subs of huge sums of money offshore. Uis heldal wealth offshore. 50 of the money from the gulf is held offshore. Europe, then the u. S. , the nation. Where they storing this money . The usual suspects. Accounts in the caribbean, switzerland. To shellnts are linked corporations that are registered in the likes of the British Virgin islands. Ownedhan 60 of foreign deposits in switzerland along to entities belong to entities registered in the British Virgin islands, jersey, and the panama. You say entities. It depends on your definition of entities. What should be the takeaways . The reforms that the g20 tried to put in place, it does not look like they have been working as well as people have been hoping. The conclusion is that all of the talk about what global in the equality was ameliorated between the follow the berlin wall and the great recession, we have not made that much progress. The big, simple take away is when you hear that the top 1 has 30 of global wealth, that is probably an understatement. Thank you. Is on the markets. Matt miller is standing by with the details. Upi want to get you caught on stocks. A turnaround after gains across the board. Positive u. S. Jobs numbers. European markets turn negative with the ecb. I want to highlight some stocks. Facebook, making another acquisition. They are buying software that protects data. The purchase is part of a move to build up its defenses. You can see facebook shares are trading up. More bottom line after this break. Welcome back to the second halfhour of bottom line. Lets check some of the top stories. The european stocks fell to the lowest level in more than 3. 5 months. Mario draghi warned a geopolitical risks in countries such as ukraine could hurt the economic recovery. They held their Interest Rate steady at 0. 15 . President obama has signed bipartisan red legislation for veterans. It increases the number of the a medical facilities the president said. Foundsable conduct was that some v. A. Facilities and he called the situation outrageous. Two car bombs killed at least six people and wounded four others in a mosque. He was being used as a shelter by shiite refugees. Iraqsilitants seized largest dam, giving them control of Water Resources and access to the river that runs through the heart of baghdad. It is time for todays latin america report. Argentina pasta at the fall is making huge headlines. We take a closer look at a key feature in the standoff. A key figure in the standoff. Paul singer, how did he get involved with this . A hedge fund that does distressed debt investing. They buy debt of companies or countries that is in distress or in default or bankruptcy. Dealtry and get a better than what is usually offered in a restructuring or in a bankruptcy. Buying argentine debt before the default. They say he bought after. Said thatfund has they have bought before the default. They continue to buy the debt as the situation progressed and got worse. How successful the singer believe he has been . It is a question of how you define success. He has had the judgments in his favor, which means he has sued in new york and in other courts to have full repayment on the debt. You say, i am owed money on this and the judge says yes, you are. He has those that are in his favor and he asked to go and try to collect on those. He has this judgment that is making headlines now, that is what pushed argentine into a default. That would also that was also in his favor. Hasthe core standards, he one. The question is, has he been able to collect. Not really. If you cannot collect on those, are you a winner . We know what the argentine government has been saying. They are using words like vulture and other things to describe mr. Singer and those who they believe do not want to work with them on the debt situation. How those wall street view him . Wall street sees him in different ways, depending on how they are involved in this investment. I think some of the folks involved in the argentina debacle may not see him so favorably because of what happened. To so many people for our story that we worked on and he is seen as a champion for creditors rights. To hisable to stick morals through all of this and say, i this is a debt that is owed to me and you did not play by the rules and i am going to be you to that. The courts have agreed with him. A character on wall street that does something that could be beneficial to everybody else in the long run, if their rights are upheld. In the court of public opinion, this battle has become personal. On the argentine side. The rhetoric is pretty heated. Absolutely. The make it seem like holdouts are just consisting of him. The reality is, there is a large group out there. A lot of them include retail investors. There are people trying to collect on their money. Fund side, this is a battle that has been going on for so long, it is hard to imagine it has not become personal. At the same time, in all of the letters that we have read and the features we have heard, it aboutinitely something what is being done that is right and what is being done that is wrong. You have been doing this since you were 12, the story will not go away. Thank you. Coming up, the backtoschool shopping season. Which retailers are best prepared for the secondbiggest sales event of the year. Bottom line continues in just a moment. In the Creative Minds at taco bell are added again. Week, they open a new fast casual restaurant with an on its signature