Electric car that can go more than 200 miles on a single charge. It will cost less than 40,000 dollars. Greece in germany are headed for a showdown in brussels. Finance ministers meet today over greeces request to extend the bailout agreement for six months. A new headlined says a deal tonight looks unlikely. Greece needs the extension to avoid defaulting on its debt. Germany has rebuffed the greek request. The german finance minister says greece needs to make a firmer commitment to austerity. Heres a greeces debbie Prime Minister responded. Deputy Prime Minister responded. At this moment, it appears there are powers that would like greece on its knees so they can impose their will. I believe we can think of what helps our country and what helps these powers. Betty germany is the biggest contributor to the 273 billion bailout to greece. The Parent Company ann taylor, looking to sell. Working with jpmorgan and reached out to potential buyers. It also owns the loft. The best antitrust regulators are suing cisco to prevent a takeover of u. S. Foods. Cisco in u. S. Foods are the Largest Companies in the broad line food market. Customers include schools, hospitals, restaurants and hotels. Sysco says it would fight the case in court. Pentagon is planning an adventure to retake iraqs secondlargest city from the Islamic State. Up to 25,000 iraqi troops will be sent to recapture the city of mosul. U. S. Advisors will have to train the iraqi soldiers. There are up to 2000 Islamic State fighters in mosul. In a few moments Angela Merkel and Francois Hollande are going to meet in paris to discuss the situation in ukraine. We are expecting them to speak at any moment and it comes one year ago since more than 50 protesters were killed in independence square. Hans nichols is live in brussels. We are also following the showdown on greece as finance ministers work to strike that deal. As we just heard, one eu official says it is not likely we will see a deal tonight. We have three bits of Important News in last hour. The eu official is saying it is unlikely you will get a deal between greece and their creditors today. The eu, for the most part has been more optimistic about the prospects of a deal then individual finance ministers. Separately, the maltese finance minister has told bloomberg that he does not think he thinks germany has a sizable block that could be willing to let greece leave the euro. That is from a finance minister who is been part of these negotiations. He has been more optimistic. His tone seems to have shifted. Thirdly there is a report at der spiegel saying the European Central bank is preparing for a potential greek exit and they are doing modeling. You add those stories up, it does not look optimistic in brussels you will have a deal. Everyone has said the deadline is friday. We will see if that is the only bit of optimistic news that can come out of this. The friday deadline may be slides a bit. Betty it would have to in order for it not to royal the market roil the markets. Tell me about the upcoming meeting between Angela Merkel and Francois Hollande about the ukraine. They have been dedicated to find some sort of lasting ceasefire in ukraine. The current ceasefire to come to best they worked to come to they worked to come to seems to be in tatters. You have 49 attacks in the last 24 hours. Question is, what is the next step . You have much of charges and counter charges. The rebels are saying the Ukrainian Government is preventing the flow of natural gas. You have calls from president poroshenko asking for some sort of absurd tory observatory source. That seems unlikely to happen because there is not the bandwidth. It could never be a nato force because that would be an affront to the russian side. We have a fraught situation. It appears the diplomatic attempts have not done a lot for it. It is unclear what merkel and Francois Hollande hope to a cop wish. Hope to accomplish. Betty bloomberg has learned apple is pushing a secret team to begin production on an electric vehicle by as early as 2020. The timeline is aggressive and puts it right into direct competition with tesla and general motors. Jeff green, who covers the auto market for us joins us on the phone for michigan. This sounds pretty aggressive. What is going on . Everybody is looking at what is going to happen with cars. As tim higgins wrote apple is looking to diversify their products. It is an interesting approach. Google is in this space. Tesla is seen as more of a Silicon Valley company than an automaker. Everybody is looking to see what the future of the car is going to be. There is no guarantee that it will be gm, ford any of the traditional players. That is the space their coming into. It is already shifting. It is a wide open space for whoever has the best idea. Betty it really is. When we think of electric cars we think of tesla. They are still far away from producing a mass production electric car. Who is furthest ahead in that area . There is a risk that no one gets there. Consumers are not that interested in it. You have the leaf from nissan which is probably the closest thing to a massmarket electric car. There are a lot of risks. The amount of time apple is going to take to bring a car is short. Toyota and honda and other automakers have gotten in trouble when he started to shorten their Development Times and had to lengthen them out. That is where these recalls came from. They got sloppy and took too little time to work out the kinks. It is not likely your iphone is going to kill you, but cars are more dangerous. Betty a lot goes into building a car, as we know. Jeff green, thank you. Breaking news on a Management Change at pimco. Paul macauley the global economist, is stepping down. Out has more on this news. This looks like it has to do with the departure of bill gross. Mcculley has been good friends with bill gross for more than 20 years. And went to pimco as an economic counselor he wanted to write think and speak macro. Paul mcculley stepping aside. Pimco saying they respect that decision. It seems to be somewhat disappointed due to that. Shakeup in the management when it comes to citigroup. Manuel medina who is currently copresident of citigroup does say he will retire on june 1. He is been copresident since 2013. He comes from the Global ConsumerBanking Division where he was ceo. He is been in his current position for about two years and he will retire in june 1. Manuel medinamora. Betty with pimco over the last 12 months, a lot of moving parts. Paul mcculley stepping down. On the heels of president Obamas White House summit to counter extremism the u. S. Military has telegraphed a timeframe in details of an operation to retake iraqs secondlargest city. Extremists took over mosul last june as the group marched across iraq and syria. This offensive will involve up to 25,000 iraqi troops trained by u. S. Advisers. I want to bring in peter cook. Military leaders do not often give out any details before an operation. Why is this different . This is highly unusual. Not the normal protocol for the pentagon. This was a briefing by a military official from u. S. For command which oversees iraq and that part of the world for the u. S. Military. One reason is to give an indication that the iraqis are ready to take the offensive against the Islamic State and put pressure on the iraqis to deliver. Second of all, to send a message to the Islamic State. Those troops forces that are in most all right now. Trouble is coming. Psychological warfare to some extent. Betty how soon could this begin . They are talking about april or may. They also suggested things could slide if the training has not matched up with their schedule. It is in play but they are talking about spring. We are debating the authorization for the use of military force in congress now. Betty it seems like americans are more acceptable to this now. The polls suggest that but we are not talking about u. S. Ground troops. Were talking about advisers perhaps air support by the United States. Adjustable support and maybe Logistical Support and maybe u. S. Spotters to locate airstrikes. Betty congress was on break this week so they return next week. What will be high on the agenda . You have janet yellen taking her trip to the hill to testify on monetary policy. She will be in front of the Senate Banking committee. The first time she is based this committee with republicans in control. Big moment for her to talk about when lift off for Interest Rates will happen. The regulatory discussion and the governance discussion. Those things will come up during the hearing. Big fcc meeting next week on net neutrality. A few other things as well. Betty you will be busy. Peter cook our chief washington cosponsored correspondent. It covers go too far with doddfrank . A lot of small banks may be feeling the pain. We debate that in a moment. If you cannot afford to own, you can rent. What if you cannot afford to rent either . And mom and dad want to kick you out . We ask Spencer Rascoff next. Betty it is 15 minutes past the hour. American and british spy agencies hack into the worlds a gift sink card provider stealing encryption codes. That is according to a new website a news website, intercept. A Dutch Company that was targeted produces some 2 billion sim cards a year. Lenovo has its own hacking problem. The company has apologized after it was found that its Preinstalled Software could lead customers vulnerable to hack attacks. Lenovo says it was a mistake to include the software and is helping customers remove them. It may be cold in new york, but look at this. That is jerusalem underneath all that snow. A snowstorm shut down public transport in the capital and close roads leading in and out of the city. Snow in a desert. That is the latest world news. Another update at 45 minutes past the hour. It has been a busy week for Spencer Rascoff. It all began last friday with an Earnings Report that showed zillows fourthquarter revenue up 58 . By wednesday, his Company Announced the completed acquisition of trulia. The same day, he was off to San Francisco for his first ever all hands meeting at truly upon headquarters. A quick selfie before speaking to a sales team in denver. Spencer ref Spencer Rascoff joins us. By the way, when you are on social media, we see you everywhere. Now we can spy on you. No were Spencer Rascoff is. Know where Spencer Rascoff is. How would you integrate both trulia and zillow . They are very different companies. Spencer they will be different brands but it is one coming behind the scenes. To the consumer, these will be different brands. Will have different products and web designs. Behind the scenes, the listing inventory and Ad Sales Team will present a unified face to the industry. That will allow advertisers to reach audiences at unprecedented scale. They have never been able to reach this large a scale. Betty i have been on both sites and they offer slightly different information. Why not combine the two of them together . Spencer wherever people are looking for information, we want to have lots of brands on the shelves. Whether it is in the Google Search results or an iphone app store or in the media, we want zillow and trulia to a different brands. Betty is it because the users are currently brand loyal . Spencer this is a strategy that viacom pursues with vh1, and the tv mtv. Betty you are targeting one market. Spencer different people have brand choices and preferences. Especially with something as important as home shopping. It is too important a purchase process to focus on one site. Betty i get this question asked to me all the time when im about to interview you. I ask you this before. Homeowners are always on your site and they want to find out what the value of their house is. Why are they sometimes so inaccurate . Is it going to get more accurate with Something Like this . Spencer the estimate values every country home in the country every night. We have gotten more accurate over the last nine years since we launched. Nationwide, our error is now around 8 . The error rate keeps coming down but holmes are unique and our computers have never been inside your homes. It will always be a starting point. You should work with an appraiser to figure out what home is worth accurately. Betty where do you want to get that . Where you think you can get it to . Spencer it is a hard math problem. I think we can get better. With more data and information from users we can get more accurate. Around 90 Million People uses a low every month and that helps improve the accuracy of the data. Betty there is a report that you put out about the rental market in the u. S. The report we have a map of other cities secondtier cities, denver, kansas city, nashville, charlotte, where rents are going up higher than the national average. Is that going to be a lid on the home market . Spencer the rental Housing Stock has not been able to adjust quickly enough to all of these new renters. In the peak of the Real Estate Market in 2008, almost 70 of americans own their own home. Now 63 on their own homes. All of a sudden another 5 Million People that are renting who used to own. Nobody built buildings for them during that downturn. It takes couple years to go to the structure process. Too many renters and not enough rental units. Rents are going up all over the country. The average american renter is now giving 30 of their income toward rent. Historically, it is been 25 . Unfortunately, that means renting is becoming a barrier to owning because betty you cannot save the money. Spencer we need developers to build buildings. Betty thank you so much for joining us. Spencer rascoff. We will be back in a few moments. Betty you are watching in the loop. Good morning. Im betty liu. Sysco ceo says no one in their right mind would want to break up his company. The stock has room to run and chambers said he is never spoken with an activist investor. Many of the things other companies would be criticized on, we have done ourselves. That is a nice way of saying we are pleased with where we are in the market. We will become the number one i. T. Company. Shareholders know we have a good chance of doing that. Betty chambers has said he will retire by the end of fiscal the fiscal year. Interdealer brokers handle large trades between banks. The spanish bank has reached a settlement with new york state over the ways it screens applicants for new accounts. There been complaints that their currents santanders current screening process. Doddfrank is crushing Smaller Banks. The findings show that unity banks have lost market share at twice the rate they had before the law took effect. Small business lending down 11 . Shared assess assets down 19 . Is doddfrank really working . On one side of the debate is bill cohan who says it is fine that Smaller Banks are suffering and he hates doddfrank. On the other side is dennis kelleher, the ceo of better markets. Dennis, i was surprised by this. You hate the study . Dennis hate is a strong word. Good morning to you and bill. It is misleading to say it is a harvard study. Is a study by a former j. P. Morgan chase executive that happens to be a consultant for a company in boston and did this paper through a harvard affiliated organization. Harvards claims association with it on the front page of the paper. I look at it and it reminds me of the book how to lie with statistics. Is more fiction than fact. It says that the crisis ended on march 1 of 2010 and everything that happened afterward is due to the doddfrank law. It ignores the fact that the bill was not passed until july of 2010. Almost none of the rules were finalized in 2011. Today, less than half of the rules have been finalized and less than 40 of them have become effective. Almost all of which betty your point of why you dislike the study and what theyre finding is on Smaller Banks is what . You simply dont like the source . Dennis it is not supported by the facts. Everything that happens after march 1 of 2010, this author says is due to dog frank. Doddfrank. The author ignores the crash of two dozen eight, the worst crash since 1929. The worst economy since the great depression. It killed Small Business in this country. Betty the trend of Smaller Banks during smaller this is a decade old trend. This is not just after it is not even right after the financial crisis. Dennis, hang on. I want to give bill some room. What do you think about the study . Bill i am not an expert on the study. I have never liked doddfrank. Maybe dennis and i can agree. I find that doddfrank is 2500 pages of gobbledygook that does not address the main problems that caused the financial crisis in 2008. Not only the 2008 crisis, but the recurring problem of excess in our banks where people are rewarded to take the risks with other peoples money. Doddfrank has nothing to do with that. Once upon a time, this was a nation where if you were in business and you made right business decisions, you succeeded and if you made poor business decisions, you and out of business. That is the natural order of things. Betty you are saying let the small banks fail . Bill maybe