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This is this Imus in the morning from.
Don't want to find those.
Good morning everyone the standoff continues between the White House and Republicans over how to head off tax hikes.
And spending cuts known as a fiscal cliff.
Treasury Secretary Timothy Geithner in house speaker John Boehner discussed where things stand -- yesterday.
On FOX News Sunday.
We laid out a very detailed.
Carefully designed set -- spending savings.
And tax changes that help put us back on the path of fiscal responsibility protect taxes taxes from my for 90% of Americans and provide -- from from investments in things we -- like infrastructure.
And we think that's a very good set of proposals we think that's what's good for the economy.
If they've got some different suggestions they wanna go further in some areas nation that initially -- The president asking for one point six trillion dollars worth of new revenue over ten years twice as much as he's been asking for a public.
His stimulus spending.
In here that exceeded.
Of the amount of new cuts that he was willing to consider.
It was not a serious off.
500 billion dollars in tax hikes an automatic spending cuts will kick in.
On January 1 if both of those sides can't reach an agreement now let's take a look.
At the markets in the meantime US -- have been in the -- all morning we're seeing Dow futures up almost forty points yes -- up about four.
The nasdaq's up fourteen in Europe.
Eurozone PMI rose in November and is in line with expectations at a reading of 46 point two.
October's was 45 point -- in stocks in Europe are also in the green across the board London's up about 45 Paris is up almost 35 in Frankfurt's up about fifty.
Let's take a closer look though what's moving those markets with Joseph Rundle head of trading at ETX capital -- We were talking last hour about Greece's new -- bond buyback effort that many are questioning whether you'll tense enough bond -- OK let's say it.
You know I think think it's will -- I think Greece -- that I.
Patent is Lehman's mine typically needs that -- write down on another -- consummate side that before -- really -- be -- -- stopped progressing.
And building its way through Christ -- -- it's recession.
And Michael here in US fiscal -- negotiations appear to be at a stalemate how worried are investors in Europe about that.
I mean -- it is a concern I think the feeling -- -- -- -- and -- -- and certainly is that they will -- come to some form of resolution.
But what's really concerning us and on the and it's the fact that we don't really -- -- the euros and will get its act together and come out with any sort of resolution will still be having.
Conversations about how they consult the -- -- crisis this time next yes it's a real concern.
And I had a lot of negotiations going on -- a lot of resolutions just yet we appreciate you being on thanks so much.
And UBS reportedly is close to a deal with US and British authorities over claims that some of its workers reported -- Libor rates to boost the banks' profit.
The New York Times says -- Swiss bank is expected to pay more than the 450 million dollars Barclays -- find in June.
For manipulating Libor rates Barclays chairman and chief executive resigned.
In the wake of that scandal Libor keep in mind is used to set interest rates on things like credit card student loans and mortgages.
Meanwhile Singapore Airlines says it's in talks to sell its 49% stake in Virgin Atlantic.
Delta Airlines reportedly is among the potential suitors sources tell Reuters delta wants to gain access to virgin -- landing rights at London's Heathrow airport.
Which is valued for its corporate passengers -- been looking to acquire Virgin Atlantic stake for more than two years the previous talks have broken down over price and other issues.
Virgin Atlantic confirms the Singapore airlines' announcement but is not commenting any further.
At this time.
Kelley blue book says new car sales are expected to jump more than 9% in November from last year a recovery.
From dismal October numbers due to -- -- sandy.
The reports suggest sales will top roughly one point one million units KBP says sales in New Jersey.
Were hit especially hard which accounts for three to 5% of all US car sales.
An analyst with Kelley blue book suggests buyers were forced to delay purchases because of the storm the report also claimed additional demand will come from people.
Who lost their cars during storm.
And shoppers have been busy tapping away on their computers comScore says online sales rose 15%.
From last year.
To nearly twenty and a half billion dollars.
In the first thirty days of the holiday season.
Sales on three of those days each topped one billion dollars that was Cyber Monday.
The day after Thanksgiving and the Tuesday and Wednesday of that week sales on Cyber Monday at a record one point 47 billion dollars but comScore also says.
The -- was short lived after that that's similar to what we -- last year comScore says Smartphones and tablets continue to drive those sales.
-- Imus in the morning continues right now on Fox Business.
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