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This is this Imus in the morning.
On the -- -- Good morning everyone and they mentioned a little island of BP is now officially selling some of its oil spill in the Gulf of Mexico for five point five billion dollars.
That deal with Plains Exploration & Production would go toward paying for damages to the 2010 oil spill in the gulf BP announced in May.
It was looking to sell mature fields in the gulf and -- has been working to build up its oil assets as a price for natural gas has been in Islam.
Checking markets this morning here in the US futures are starting the week off pointing to the downside out because it down by fifteen -- -- down by about two.
The NASDAQ -- down by five in Europe investors are looking ahead to Germany's constitutional court ruling coming up on Wednesday.
That's on the legality of the Euro zone's permanent rescue funds stocks there are mixed at the moment.
London and Paris are out mixed as -- London up by 85 Paris December -- -- three Frankfurt is up by three let's take a closer look now what's moving those markets with Brenda Kelly.
Market analyst at CMC markets in London.
Credit European central bank's plans to buy the debt of troubled Euro zone countries doesn't seem to be sitting well with some German officials.
What do you make of the argument that the plan jeopardizes the ECB's independence from politicians.
Find agreement -- -- -- of generally Ellis says that there apolitical and they do not the political stunts but ultimately they're getting involved in something like this.
While they might send their star lies in the bonds I find it quite difficult to understand how you concern lies -- unlimited -- bonds of course isn't haven't cut to -- -- get cost.
Some of the German naysayers.
But at this moment in time it does seem that this game changer as it was pretty much called over the course of the weekend she does seem to consolidating a little bit -- of course they ES -- and treaty being ratified or not as the case may be by the German Constitutional Court on Wednesday.
Could be a little bit of fly in the ointment because obviously there's no plan B if we don't see -- go through certain the optimism is there what we are seeing a whole lot encirclement of bearish divergence in the markets.
-- the moment so I think that's spiky on the bullish side benefit to the moment but on the -- -- death to be lying ahead for the next couple of days.
And as you mentioned that as -- court is expected to give ESM -- green light Wednesday look uneven impact do you expect.
That to have on the debt crisis and the markets -- is one of those things that's already priced in the kind of only downside.
I think it's always we have seen a certain underpriced then but I think -- house got the likes to -- further it -- -- -- -- to -- it's kind of -- of the ten and risk that's kind of hanging hanging over the markets at the moment hundreds of possibility because -- the Euro of course on the state that they horses running -- the -- -- we've seen over the last week -- so if it does come to pass.
And of course about the other problem with regards to the -- general election which is taking place on Wednesday as well.
-- country in particular become a little bit more Euro sceptical over the recent times so any sort of change there could actually undo.
-- -- -- the ESM so I think for the most part we're looking out a little bit of a pullback it's not -- and it kind of exceptional way over the last week or so what I think correction -- went over to protect you -- everyone gets the bush.
I start to get worried.
-- interesting stuff that's Brenda Kelly from CMC markets in London thanks front.
The US government is selling more of its stake -- AIG in an effort to recoup more taxpayer money from that -- spell out the treasury announced it will sell eighteen billion dollars worth of the firm's common stock.
With another three billion set aside in case demand tops expectations.
AIG says it'll buy back five billion dollars worth of shares at an undetermined price the -- should reduce the government's stake in the company from 53%.
To less than 20%.
And this will mark the first time the government has not held a majority stake in AIG since that bail out in 2008.
Two of Wall Street's biggest banks reviewing compensation for their executives.
-- -- -- journal reports JPMorgan is considering smaller bonuses for chief executive Jamie Dimon.
And other managers after losing at least five point eight billion dollars and they'll derivative trades.
The journal also says Citi group's board is looking at how to revise next year's compensation plan.
After management's pay structure was rejected by shareholders in a non binding vote back in April.
The paper -- the number of US banks are evaluating executive pay due to a soft performance in the financial industry weak economic growth and widespread cost cut and the former UBS trader accused of losing 2.3 billion dollars in unauthorized trades goes on trial today.
-- a lot of -- was arrested near the year ago in London on those losses were discovered.
He's pleaded not guilty to charges of fraud and false accounting UBS says the case will subject Swiss bank.
To an uncomfortable examination of its culture and practices -- alleged rogue trading was a serious setback for UBS following its near collapse.
After the 2008 financial crisis the bank has made major changes in staff and strategy following that instant.
Here's a look at commodities now oil and gold in both download them but -- -- gold -- -- six bucks.
Imus in the morning continues right now on Fox Business.
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