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RadioShack CEO to Step Down

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  • Description

    FBN’s Robert Gray breaks down the stories moving the markets ahead of the trading day.

  • Duration 4:59
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Imus morning program time -- for of those children.

Good morning I'm Robert Ray we have some live pictures of developing situation in Athens Greece -- workers have called the first general -- -- that nation.

At -- coalition government was formed in junior -- -- looking at live pictures there we've had.

Workers clashing with police early we had some fires burning earlier.

It looks at the moment like the crowd is dispersing a -- from right in front of the parliament building in the center of Athens but again containing -- followed it is early afternoon.

Into Greece right now of course.

The government's trying to push through more austerity measures they've been demanded by the rescue creditors to try to alleviate that nation's sovereign debt crisis.

-- protests expected to -- flights for hours shutting down everything from schools to ferry services and hospitals to shops in customs offices.

Which seems stocks selling off there in Europe our markets here at home.

Not as effective at look at the -- down better than 1% they cac forty Jack -- in about Paris down two and a quarter percent.

And -- Dax in Germany down by one and three quarters percent we've -- German bones.

Of course the government bonds in Germany would -- them while rallying there a flight equality in Europe.

Out of some of the sovereign debt issues a riskier ones on the via periphery if you will.

I in Spain a particular more fresh concerns there over their sovereign debt crisis we had police clashing with protesters there.

Overnight over the austerity measures in Spain -- borrowing costs are rising in the bus -- This morning as we speak you can see from the at some of the file video from Madrid -- night.

With this protesters and the police in the streets of the Spanish government is prepared a new round of austerity measures.

They're going to be included in a new budget and that's gonna be released tomorrow they'll thousands people course gathering -- central Madrid forming.

A human chain around parliament there -- conceded in the aftermath there -- some 15100 police in riot here.

Their prime minister Mariano Rajoy its plans would restrict programs they allow people are retire earlier than the state mandated retirement age of 65 obviously.

Workers out there protesting those measures.

Or radio -- chief executive and director James gooch stepping down.

-- lightly the executive vice president and chief financial officer will serve as interim CEO for the company.

The board of directors -- use an executive search firm to find a successor.

The search may include internal candidates but no names have surfaced yet.

Shares of RadioShack look at the chart down by 74%.

And that's just this year to date.

Why IBM's chief executive Virginia Rometti is getting another title next month after less than a year in the quarter office.

She set to take over as chairman of the board from Sam Palmisano.

Homes -- gotta be blew through its transformation from a low margin maker of personal computers.

Into -- services and software company.

But look on the senior advisor -- he retires at the end of this year starting October 1 -- new title will be president chief executive.

And chairman.

Shares of Yahoo! getting a boost in premarket trading -- -- of slightly higher.

Chief executive Marissa Mayer outlining some of her plans for the company yesterday.

What are the -- she announced the hiring of Silicon Valley veteran Kim Goldman as chief financial officer he'll replace Tim Morse.

According -- all web -- all things.

And adapting the company's products to mobile devices.

Which it's a positive readings on the housing market recently and today and we'll see -- sales of new homes -- last month.

The estimate for new home sales is for an annual rate of 380000.

That would be up from -- is 372000.

Figure.

Yesterday's case Shiller report on July as home prices showed a year over year increase of one point 2%.

There's also the third straight month where prices rose in every city in the twenty city index.

The report on home sales will be released in about two hours time.

Britain's Barclays is the latest bank to be sued over the misrepresentation.

Of mortgage backed securities.

The National Credit Union Administration is suing a Barclays US subsidiary of of the sale 555.

Million dollars of the securities to two credit unions.

They failed during the financial crisis the NC UA alleges Barclays had disregarded the underwriting standards state in the offering documents.

And that that misrepresentation.

-- -- credit unions to regard the risk of the securities.

As minimal.

Let's like adult commodities now we've seen oil sliding in early trading this morning -- losses continued to accelerate here down by more than a dollar a barrel back below 91 bucks a barrel.

-- by one and a quarter percent gold futures starting to slide a little bit as well we've seen the dollar firming up.

And a flight equality today and that of course is affecting those commodities coming up this hour Imus is guests will be musician Lyle Lovett.

Right now here's the -- man on Fox Business continue to Howard a.

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