Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Legg Mason CEO to Step Down Oct. 1

Details

  • Description

    FBN’s Dagen McDowell breaks down the stories moving the markets ahead of the trading day.

  • Duration 5:04
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

I don't know from Imus in the morning.

Business update.

Good morning first ever want to check on your markets for you here in the US the picture.

Is brighter we like that Dow futures are up 39 points just off their highs.

Of the last hour -- so meanwhile investors over in Europe are cautious.

As they wait for -- German court decision on the region's permanent rescue fund.

Stocks over there are lower across the board but the losses are quite modest.

In all three are your major markets there meanwhile back here at home Legg Mason implementing a succession plan the brokerage firm says Joseph Sullivan.

Has been appointed interim CEO the current CEO mark -- will step down on October the first.

A search committee has been formed to consider both internal and external candidates for the top job.

Georgia bank unveiling a crash diet to survive and -- less profitable investment banking world.

The bank says it will take -- five point one billion dollar restructuring charge.

And may have a 125.

Billion dollars worth of euros in risky assets into a non core unit.

The bank is also affirming the long standing commitment to a universal banking model.

And will create a fourth business unit involving integrated asset and wealth management.

Deutsche Bank is also putting forty properties.

Up for sale.

And today of course marks the eleventh anniversary of the terror attacks of September the eleventh.

And ceremonies to remember those lost on that fateful day will take place this morning.

Fox news's Eric Shawn is at ground zero here in New York City with much more good morning Eric.

Money day in you know it was a day just like today Tuesday September 11 crisp and clear blue sky people question the work.

And then the world changed and with and -- our the families of those will be gathering here to remember and honor the loved ones who perished once again.

As always for the tenth time there -- DP reading of the names the 2980.

People who died here.

As well as the six moments of silence to mark the times when those planes hit the two Twin Towers as well as the Pentagon and united flight 93 in Shanksville.

There's also a time of hope and inspiration.

-- politicians will be speaking here today that for the first time they'll attend.

And of course there is the Memorial Day cascading waterfalls that -- so inspiring and comforting.

Nearly four and a half million people of this of this memorial just the last year since it opened on the tenth anniversary last year.

And the dispute that has delayed the museum building has now been completed got announced yesterday said the museum should be open by this time.

Next year.

There's also word on the up front of for the first responders 58 cancers have been classified by the federal government as possibly being related to the dust that should help them.

Of course on this days.

Remember ever called the threat of Islamic terrorism tonight the tribute and like -- to twin beams that repairs that happens in the skies -- pocket of an emotional.

So a symbolic of the vanished Twin Towers.

Those two buildings there absence reminder not just -- the loss here but of the threat from Islamic terrorism.

That this country still face it's taken from ground zero back -- -- -- thank you so much never forget -- man never again.

Thanking Eric.

We do have some breaking news that we're getting August sales numbers from McDonald's the restaurant Jain is reporting global same store sales rose three point 7% from a year ago.

In the US they were up 3%.

European sales also up three point 1% -- hard hit there but not in sales.

May -- fills electronics announcing it's slashing more jobs -- it -- cost cutting efforts.

The company plans to cut another 2200.

Positions after announcing 4500 layoffs last year.

Phillips also says it's looking to save one point four billion dollars from its cost cutting program that is up from the previous target of one point one billion.

Efforts appear to be paying off the consumer electronics producer -- better than expected results in the past two quarters.

The slow but steady job growth we've been seeing as a -- will likely continue in the coming months.

As the employment outlook in the US remain stable that's according to a quarterly hiring survey by manpower group.

Which says a majority of US employers polled expect no change in their hiring plans in the fourth quarter.

The net employment outlook which is the difference between -- -- playing add jobs in this plan to cut them.

Was plus eleven and change from the third quarter but up three points from the year ago.

Most employers are unwilling to add workers because of the uncertainty over well you got it the elections the budget written everything else.

Here's a look at commodities Imus in the morning continues right now --

Load More