It is unusual. The tradition is the chairman will deliver the exact same testimony the day after. We expect the same thing today. No indication well get a dramatically different message. She said basically the Economic Forecast looks like it is holding. Take a look at what you said. We are likely to continue reducing the pace of our purchases in measured steps. We also indicated this program is not on a preset course. It means if the Committee Judges there to be a change in the outlook, it would reconsider what is appropriate with respect to the program. We have gone weak economic numbers. Sales and production. Some of those things may also had to do with the weather. We have had interim time, fed policymakers, the cleveland fed president last night suggesting the taper would continue and that the dramatic change in the outlook, and, we had those fed minutes, which indicated a fed had agreed to alter their Forward Guidance with regard to Interest Rates going forward. That may be the biggest. I expect she may get questioned about that. There was a debate about how that should change. Do they change their threshold to a Different Number . Do they make a more qualitative . I think she may ask about that today. We also saw a lot of volatility in emerging markets. What kind of pushback might we see in those topics . She will be asked about those things. Theher thing unusual about congressional testimony, a lot of things on the regulatory front as well. I would expect that to dominate a lot of discussion as well. Thank you. In ukraine, gunmen seized a building. We will do everything we can, everything possible. We will do all tools and legal means. It is such a hot spot is the reaction to what is happening . They are concerned about it. If you think about it, the lead up to the housing of the former president , which happened friday, concerning the country was some of the regions in the west in the ukraine would secede. Oppositeoncern is the that some of the proregions could seek more autonomy within ukraine. It is on their mind. They surrounded the building with police. Worth noting, we do not know who the gunmen are or what they want it we just know they raised the flag. There is no evidence they are in any way connected to the russian state. Week spoke about their concerns about ethnic russians. Onsideey have militaries their side of the border. Saying, we do not see them moving into the ukraine, but we are asked to avoid any kind of intervention or confusing confusion. No word about what putin might think about these moves. Up here is what might speed from the west. Anywhere from brussels . Collected as all in the works. The connection is the Prime Minister i spoke with about to be voted in, really has a full plate and the issue of territorial integrity is not one he needs to deal with right now. Ukraine needs 35 billion over the years. A deal oneeds to cut to avoid default but he did not leave the door open for a haircut for bonds holders. One thing he understands, as he told me, he is the most unpopular Prime Minister in history because anything they get will come of those conditions like in greece. Im interested in what youre hearing as to how putin might respond. Here, hek the feeling would kind of welcome that. Russians would offer 15 billion, whether they would want to extend the offer again after this change of government, that is not clear. What they have been saying is, we are happy for the west to help in ukraine. The ukraine is a big trading partner for russia. They do not want it to fail economics. Want whateverot happens to be to their detriment. That is their big issue. All right. We will check with you throughout the morning. Thank you for your update. Moving and shaking this hour, ceo of the worldss largest Advertising Company shares of the company are following most in europe in four years. Cause wpp to miss its earnings margin target. There was still promising news for. Revenue growth at eight percent in the Fourth Quarter. If there are any regrets in the last two years, it was that it did not go faster in the emerging market, where the company has the biggest margins. Google filled a behemoth business by showing ads in its search engine. Newestthe companys businesses is google fiber. Home Internet Access the Company Claims leaves competitors in the dust. All of that comes at quite a cost. Cory johnson took a he dived into the business of google fiber. Jumpstartmpt to services to unprecedented speeds. It is 100 times faster. It is faster than verizon files, faster than at t. Other competitors google is timeng in the dust warner cable. Google started in 2012 and now it is in utah and coming very soon to tech this. Google Just Announced it wants to bring this service to 34 more cities. Cuttingedgeork . Routers and modems. Cabled right into each customers home. It will cost google as much as 900 per household and up to 3 billion per year. If googles told it, will customers come . Billion will come, giving google fiber as big a Customer Base as comcast, 24 million. Nextogle gears up for its round of fiber installations. Cory johnson gives a for closer. Ook a fiber pioneer joins us now. Wellare you hearing . How did this perform . Is an interesting experiment from google. We are seeing innovation on a level the phone caret carriers. This. Re not doing theyre not bringing it to the home. The fastest speed they could maybe in somee cases 300 megabits per second. The fastest thing verizon or Something Else can offer, it is three or four times that. Specifically Technology Businesses here. People do not like it . Class i think they do. We talked to a lot of people here. We spoke to the mayor yesterday talking about what consumers are getting out of it. It would help not just businesses but the school and the local hospital. Of course, the college town here. A lot of businesses, people are coming out of school and starting businesses here. There is a lot of technology in the area. We met and spoke with a Technology Company about what this means for the average user. Take a listen. Gigabit network speeds are not new. Many businesses are it he have them connected to their data centers. They pay for that because of the amount of data they need to conduct business. It is new to have the speed going to the home. It will be up to the consumer demand to create to create the push of new services to occupy that level of bandwidth. What is interesting about new uses ofind of chny see the real speed at which da f the internet. I cannot believe my data phone can work that fast. Y wi up helping google seah engines . What is the real motivation . Class a great question. Google spent so much money on this. About 40 increase on their cap back for many years to come. Theyre getting into the Internet Service provider business in selective places where it makes sense financially. They are taking it right to verizon and at t and comcast. We have seen the local Cable Provider change their service and offer faster speeds and lower their price to compete with google, but they cannot come anywhere near the speed available. It is a clever way for google use the things it is good at. And bring it to the home. We actually have competition in the cable network. What about regulated business . I would think google would shun all the regulation that would come with being a Cable Provider. It is interesting. Theyre partnering with the cities here. I spent a lot of time the mayor yesterday. They have a Fiber Network in the city that was losing money and facing tens of millions of dollars in networking upgrades. They were happy to hand this thing over to google and google would only do the deal with them if a lot of regulatory issues would get out of the way. The same thing happened in kansas city. This googlelled welfare. Google has been very selective to try to getis the regulations out of their way. Thank you. We will check in with you later in the show for more on the fascinating Game Changing technology. Coming up, and he has big big plans for you and new jersey. Detail on the billionaires giant that on real estate is coming up next. Building high cost of up the manhattan skyline. We catch up with the man behind it. And, a flag, play. A 15 billion business is yielding some very unsportsmanlike conduct. Offshoot, 200s thems for sale, many of running daytoday operations. Julie hyman has been looking into this. Before we get to this, i want to talk about the recent quarter. Pretty brutal. It in context for us. A lot of consumer traffic has. Eft behind is not coming back i think the changes permanent. Kmart and sears have been troubled for a long time. There are issues specific to the retailers from years ago. Like have seen things selling Retail Stores to get more cash back. Again today. D this were looking at the auto centers, selling him. That is where it comes in. It hasreal estate to 200 different pieces of real estate on the website. Kmart, sears, the places, real estate. What is curious is why it is separate for the rest of the world. It operates another Realty Corporation that has a separate website. Lie is that . Theyre trying to get away from the image . It is difficult to see it is affiliated some of the there is nothing that clearly identifies it. Mpany Spokesman Says the other unusual thing about sears among all the retailers, every single one of its stores is listed on the other website, potential sale or opportunity. What kind of money are we talking about . Class it is pretty wild. 40 billion to 7 million. The problem has been consistent that people still buying the shares are betting on eddie bettingand potentially on that portfolio. Of the possibilities there is a little bit of debate as to whether there would be demand for those assets. Crescent underscore sinceres major issue. Thank you. We appreciate your looking into sears. Worldrenowned design, bloomberg this week was called a Design Conference week. A new lively neighborhood that provides for people to play our role is to basically be the castro. We have multiple buildings. Artists. My job is to make sure to the best of my ability we are actually producing music. Design is an important part of how we envision. Because were building over the railroad tracks, we are building our own land. We are building our own sidewalks and gardens. The nature of the building, they are twice as big as you might think is normal for the development. What we did not fully appreciate one challenge is to ensure magnitude. That is what we need. We need a series of them. We challenge is making sure really create a great sense of place. I have always wanted to do commercial development in new york city. I do not think you could get any bigger than this one. It is the phrase, all my life, preparation. Getting here was the long haul. Unbelievable. Really looking forward to that in new york. Coming up, it may have been a record year for his fiveffett and decades of acquisitions. We will tie you about the upcoming annual report. Plus, no one has ever come up with a scale your scarier story than this one. That is next. Youre watching in the loop live on Bloomberg Television streaming on your phone and bloomberg. Com. Past the hour,s which means boomer television is on the markets. Youre looking at futures continue to trend lower. S p futures have pared their declines throughout the morning, now down about three points. Is relatively flat after european stocks drop the most in a week on escalating tension we are seeing in the ukraine. We are on the markets again in 30 minutes. Here is a look at our top headlines for the hour. Best buys Fourth Quarter began a list estimates. Per share. 83 that is compared to a loss of one dollar and 20 one cents per year earlier. The company ceo working to turn around the struggling retailer by cutting costs and improving its supply chain. Blackstone is getting into highend fashion business. In antaking a 20 stake italian fashion house in a 287 million. By thebeen fully owned founders family since he was murdered in 1997. Growth. Its funds for the u. K. Iled out by government in 2008. It was brutal. The banks lost 15 billion last year as a blog billions of dollars in legal costs and impairments. Five years after receiving the biggest bank bailout in history, the government still has an 80 stake in the company. Be very afraid to open your utility bill this month. I was and i got penalized for it. The brutal winter is bringing people nasty surprises. The economics editor Michael Mckee says a big reason the chill has settled on the economy. How bad will it be next month . You do not want to know. Natural gas in particular, we have been freezing. Trying to heat our homes and it is costing us a fortune. In the the increase amount of natural gas we are using at the same time we see a rise in price. We see it reflect where the storms have been all across the country except the west. The only place where natural gas consumption is going down because they did not have as much snow there. Everyone else, it is been a three percent, almost four percent in terms of usage and costs. That has an effect. Take a look at what electricity is costing. You add consumption to price and you get the costs and that cost is up almost four percent over the same time last year. Is just a onemonth change. And imagine what it would be like for the entire winter. In new york, you are one of the worst off. Take a look at what the typical new yorker has been paying, an additional 388 in their january bill. It is not just new york. We went to the midwest. Another 146. Just as much. Everybody is suffering. Our electricity went out, three space heaters, josh shot right up. Is doing ok, but the make it notsically on price. It has not improved as much as some of the others. But the Public ServiceEnterprise Group those practices sword. You want to know where the real money is being made. It is natural gas. Here are a couple of Natural Gas Companies really doing well. We have a pipeline and delivery and all of them are seeing their stock basis spike. Right now. Headlines we just got durable good orders. Orders for longlasting equipment. Is better than what economists anticipated. Drop for the month of january. Economists were looking for a drop of 1. 7 . Orders rose 1. 7 to decline 3 10 of one percent. When he back out defense transportation, 1. 7 for the month of january defying expectations of a decline. We should mention the previous months numbers for december were going to show bigger than reported declines. Jobless claims coming out at a 30 a. M. Heres a number worse than expected. 348,000 jobless claims fire filed for last week. The average estimate was for 335,000. Terms oflike a miss in economic data. Durable goods are better than anticipated for the month of january and jobless claims worse. The taking a look at market reaction. We are seeing markets on the move. The dow jones also paring its loss by about 10 points, now down just 1 10. Looking deeper into the data, give me your take on the goods. Class it is good. You want to look past the headlines and see what businesses are defend debt spending. You take out defense and aircrafts nec a pretty solid gain for a month. The three month rolling average, we are up 6. 6 . Couple ofter a months. When you look at capital goods, it looks like this is is starting to spend again and ended december. The december number was revised from a negative to a positive. This matters because 30 of the S P Companies revenue comes from spending. Of whereeal indicator the stock market might be going in the future. One problem is transportation. Happened to has orders there. Orders have really dropped off for that. Shipments, that is what goes in to gdp. It is not good news for the first quarter. He would think if theres anymore and it has been picking up and we were so worried they havent, that would trickle down to gdp, but usa not so. Klesko orders rising would give us good news in the second quarter. What shipments are telling us is , youre collecting the money for what you ordered a while ago. At this point, they have dropped off significantly in the Fourth Quarter. Maybe it was some sort of hit cup in what businesses wanted to put out there. The fed is watching this closely, no doubt. You could mention jobless claims. They moved no doubt. There it they are within a range. It doesnt look like the economy is falling apart. We like the positive news be the economy is not falling apart. That is the news for the day. Of foodp, issues labels. Michelle obama unveils new rules and changes to get us healthy. Someone who is not quite synonymous with the healthy for apaula deen, looking comeback after spoiling her image with racial remarks. Stay in the loop for more details. Chances are nutrition labels are not really telling you the whole story. The new food label rules released today by the fbi are aimed at may debt help bill will make healthier choices. Julianna goldman joins me. What are the changes proposed to my then in jerrys ice cream. Should mention ben jerrys ice cream. I happen to have brought a prop. Sometimes we bring props for Live Television to give you a sense of what these changes will mean. If youre anything like me, when you see a serving size is half a cup, do you really eat half a cup at one sitting of ben jerrys . Lets look at what the label tells us and what it is actually going to change according to this proposal. The calorie count will be much bigger. Everything you see here, bigger font, calories in particular going to be a lot bolder, serving sizes are getting bigger. Instead of this being a half cup serving size, it will be one cup , two servings per container. Total fat is 50 of the daily value, saturated for fat, 45 of daily value. The most controversial item is the proposal on a separate line to list added sugars. This is one of the biggest contributors to the obesity epidemic in the country, one third of every adult in the u.