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Greece Fears Loom Over Global Markets

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 4:55
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This is good Imus in the morning -- I'm on the Fox News now.

Time as well.

Everyone we have some breaking news right now there was an explosion at a nuclear plant in southern France and Fox News is reporting at least one person has been killed.

And several others have been injured.

Police they're saying there's no contamination from the explosion but the cac forty in France extended its losses on the news and we'll of course continue to give you more information as we receive -- here.

Meanwhile markets in Europe are plunging on concerns of a Greek default here with more on the European markets -- not a lot -- TX capital joins us from London.

But as among other things Greece is going to try -- new property tax try to stave off what seemed like inevitable that filed at this point.

What do you make of that plan is that gonna workers -- like -- and I've forgotten by at this point.

Well it seems too little too late some mean.

Did the Greek administration's -- particularly slow.

The cost years in collecting tax from -- citizens.

And this attacks on proxy but it's going to be applied today to see bills to speed up.

The collection of that revenue size not going to go down too well with the average this is in the -- Greece has got a long way to go in north of reduce debt down to levels.

-- acceptable to the ECB and other members of of the EU.

I'm therefore says to access more funding go for this -- but it's most likely that Greece will -- -- to some points.

And -- there any added worries there over the G seven's lack of action this weekend.

Fall that that -- -- at the moment that's -- going forwards if if that country's -- come together have more.

Comprehensively and tackle the issues going on.

Within the -- then it's likely that says that the EU needs that -- restructuring -- assumption they performed sending with the Ulster.

Setting up a Europe wide phones that number looks like short term.

Some solution to the the problem of that in the European Union but it's.

Get a seasonal something that can be implemented -- and these these issues on -- these seem to like these are -- on the non.

Not a lot buddy -- capital thank you so much for being on.

And the concerns about -- are also weighing on futures here in the US.

Right now is -- down down triple digits more than 200 points at this point the F and 23.

And the nasdaq's down by 37.

Will also be watching Bancshares here in the US especially Bank of America right now it's looking to start the day to the downside.

CEO Brian Linehan is making a presentation before financial conference here in New York today.

Analysts are expecting him to announce thousands of layoffs and hundreds of bank closures and investors will also be listening for guidance on the bank's capital levels and mortgage related litigation.

Turning our attention back to the US and President Obama mainly he'll be sending his 447.

Billion dollar jobs bill to congress tonight he'll make the announcement from the Rose Garden later this morning where -- again call on congress to pass the legislation quickly.

The president will be joined by people from across the country He says will benefit from the bill including teachers construction workers and veterans.

McGraw-Hill is making it official the company splitting into two.

One business will be called McGraw-Hill markets which will include Standard and Poor's and JD power among other businesses.

The other -- will focus on education.

McGraw-Hill says splitting the companies will accelerate growth and increase shareholder value we also have a deal in the tech sector this morning Broadcom is buying Netlogic Microsystems for fifty dollars a share.

The value of the acquisition comes to three point seven billion dollars the deal is expected to close in the first half of next year.

Netlogic shares are jumping on the news but still below the fifty level.

Now look at the latest on weather from meteorologist Maria Molina and our Fox Business whether -- good morning Maria.

Hey good morning -- and and as far as today goes expect more heat across state of Texas very unfortunate we're still dealing with a -- out there we're not expecting any rain just a lot of sunshine and again.

Triple digits one -- will be the high temperature in Dallas taxes and I take a look at north port.

Minneapolis -- -- -- high today at ninety degrees are very warm day in store for you but there is gonna be a cold front sweeping through.

Today and by Wednesday you're expecting a high at only 59 degrees who a big cooldown for parts of the upper midwest and some of that cooler air will continue to move eastbound.

And move into portions of the northeast as we head into -- again Friday but something.

Now we are also gonna see with this cold front is a threat threat for some severe weather across portions of the Great Lakes we're looking at large hail.

In some damaging wind gusts as a main concerns and dying and we do have tropical storm Maria Robert remaining relatively weak.

And fortunately like me it's gonna be nice and stay out of the US.

And -- I'm so here.

We -- -- -- we hope you don't go anywhere they have but we're glad that the storm is also staying nice and friendly thank you for taking a look at commodities oil and gold above down coming up later this hour Imus is -- -- -- political strategist James Carville Imus in the morning continues right now on Fox Business.

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