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Imus in the morning.
On the Fox News.
Morning everyone we discovered from Georgia bank and the plant and the bank is planning to cut 19100.
This after earlier reported second quarter earnings fell 46%.
From a year ago as the eurozone debt crisis -- investment banking activity.
And revenue from trading securities Germany's largest banks as a sovereign debt crisis continues to weigh on investor confidence and client activity.
European government such as Spain and Italy are struggling with high levels of debt and the possibility that they might default -- need bailouts.
Has made markets nervous there's more trouble for the eurozone unemployment climbing to a record high last month the data comes ahead of the European central bank's monthly meeting in Frankfurt Germany.
Later this week ended may -- up ramp up pressure for more action from the bank fox -- that she Webster's in fact but with more actually.
How likely is it that we -- the ECB announce some sort of new effort this time around.
While yet you know -- certainly the expectations.
Of very high Amway and the ECB president Mario Draghi made that announcement last week that the Central Bank would do whatever it takes -- -- preserve the Euro.
That's certainly ramps up via expectations of what can we expect we'll find out on Thursday air.
In Frankfurt exactly what they plan to do but certainly some sort of financial fire had a trying bring down those borrowing costs of Spain and Italy does that mean that.
The ECB would buy the debt of those countries will it expand its bond buying program -- -- cut interest rates.
We'll have to wait and -- but certainly the markets are expecting something.
Outside of the boxes they like to save -- we shall find out -- I will say that perhaps hopes of that are starting to fade just a little bit you mentioned unemployment.
And does certainly very unemployment numbers -- paints a bleak a picture eleven point 2% overall across the eurozone -- the seventeen countries.
That use the Euro but look at these numbers this is the youth unemployment.
Those people under 2530 years old 22 point 4% across the eurozone.
52 point 8% in -- just slightly Lawrence -- of 52 point seven and by the way Germany youth unemployment the lowest across the eurozone at seven.
Point 9% certainly the economic pressures -- to get something done Diane.
All right that's that's US -- live from Frankfurt Germany -- actually.
Are getting earnings in now from Delphi automotive the car parts makers reporting a profit of one dollar.
Once -- -- share beating the estimate for 91 cents.
Revenue of four billion dollars missed the expectation now analysts were looking for four point 08 billion.
The Federal Reserve is set to kick -- its two day policy meeting today and the big question is will the Central Bank take any action to boost the struggling economy.
Analysts say they expect the Fed to hold off on any new stimulus for at least a few more weeks in order to determine whether the economy is in a soft patch or more serious trouble.
Friday's monthly jobs report will help give some clarity on that issue and -- bank we'll get to.
More of those unemployment reports before its next meeting in mid September Fed Chairman Ben Bernanke gave no hints of any imminent moves during the two days of testimony.
When he was talking about monetary policy on congress or -- congress with congress earlier this month.
Let's take a look at markets now we've -- -- across the board all morning here for US futures now we're seeing down.
A sourcing Dow futures up by eighteen the S&P is up by about two -- the -- up by eight.
In Europe banks are under pressure after earnings tumbled a UBS and -- -- -- bank as we mentioned little while ago stuck there currently makes London's down by fourteen Paris.
As turnaround now it's also ended in the red territory while Frankfurt still holding on.
To positive territory that let's take a closer look at what's moving markets with Commerzbank global equities economist Peter Dixon.
Over in London Peter.
Leaders from Spain's seventeen regions are set to meet today for budget check ups -- the budget ministers expects to urge them.
To make more cuts what kind of a reaction do you expect from them.
Well itself -- going to be difficult one because they don't want to make cuts for the gonna have to because.
You know -- problem is that some.
The -- have an awful lot of autonomy under as much as the central government town you know cut spending and -- taxes.
Ultimately what's gonna what's gonna be solid defensive -- -- -- fiscal policy.
Is what the -- -- so to get out to play bull or us bangs and to have trouble.
-- that's Peter Dixon live from London thanks so much Peter -- having on.
Let's take a look at oil and gold now -- feel like the markets are in the green -- oil up by 34 cents 33 cents -- and ninety dollars a barrel gold is up.
At four bucks at 1628 -- coming up this hour Imus is guests will be Imus in the morning Bernard -- and Fox News radio talk show host Alan Combs.
Imus in the morning continues right now on Fox Business giving you the -- across.
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