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EU Turns Down UPS Acquisition Of TNT

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    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:55
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This is very.

Imus in the morning program on the -- -- Good morning everyone Chrysler group is reporting a fourth quarter net income of 370.

Million dollars at 68%.

From the 225 million a year ago.

Revenue rose to seventeen point 15 billion dollars compared to just over fifteen billion last year.

The automaker says it expects to earn a net income of 2.2 billion dollars in 2013.

Percent to get two pieces of economic data before the opening bell this morning including the first look at growth in the fourth quarter.

Analysts expect gross domestic product to rise just one point 1% for the quarter due to businesses.

Adding less stock to their warehouse is in cuts and government spending that would be the slowest growth rate nearly two years and a big drop.

From the three point 1% we saw in the third quarter that number comes our way.

At 8:30 eastern shortly before that at 815 we'll get the ADP private sector payroll report for January 165000.

Jobs.

Are expected to have been added this month down from 2151000.

In December.

That report comes ahead of the important monthly jobs report.

Which is released on Friday that report is expected to show the economy added 160000.

Nonfarm jobs while the unemployment rate.

Is expected to stay at seven point 8%.

Checking the markets now here in the US futures of Fannie flat this morning Dow and S and -- it exactly that unchanged line -- nasdaq's up just two point.

Points there in year out -- seventeen a huge.

Volatility there the European commission's monthly measure of confidence in the eurozone rose for a third straight month but Spain's GDP contracted.

By point 7% in the final three months of last year that has markets they're fairly flat as well London's up about four -- Paris and Frankfurt.

Are both to the downside that's -- a closer look that was moving those markets now -- Jane Foley senior currency strategist.

At rabobank in London Jane the chief executive of Pimco is warning David Cameron.

To get a plan -- in place to limit the impact on the economy if the UK.

Word to exit the EU -- how real is the possibility of that exit and do you agree that -- the plan they.

But perhaps he doesn't -- if there is a referendum.

About said the UK's a situation within EU the EU what happened until at least.

-- hasn't been seventeen of Arafat's that this is something at which will be a long time brewing and sentiment come to a conclusion soon.

-- but there is also took about a plan B in the UK with respect to the government needing that.

Because of its budget get guidelines and not since perhaps something which is -- -- more.

Precedent in the market right now at -- their fears that the government could continue fading to hit its debt reduction targets.

And the UK good -- its AAA credit ratings at -- -- talk -- -- -- for the UK or -- -- and speaking of fears Jane investors though seem pretty cautious said.

Of this US fed of this US fed -- call I wonder what is it that investors are hoping to hear from the Central Bank today.

But Christmas economists expect that the Fed was just real threat to its very -- fat policy stocks up to a Arafat has that indicated that have got a long way to go intends -- -- -- that unemployment rate drops and we get thank.

At -- effect could step away from.

Easing quantities until the end of the year bearing in mind its commitment to the unemployment rate in the US.

But -- closest thing a lot of optimism in the pocket this he had -- -- yields have been net rising in in core assets that market's been to -- -- Hi -- you've seen axes to put its money on.

And some people that I think that perhaps the Fed could begin begin to become at this local -- over the next couple of months.

All right that's Jane Foley of rabobank in London we always appreciated Jane thanks.

Banking.

And we have earnings announcement Northrop Grumman defense contractors reporting a profit of two dollars six cents a share topping the estimate for a dollar 74.

Revenue came in I was also -- six point 48 billion dollars instrument was for six point 33 billion.

We also -- in from Rockwell Automation that company is reporting a profit of adjusted.

One dollar 23 cents a share the estimate there was for a dollar 27.

Revenue came in a slight -- at one point 49 billion dollars beating the estimate by.

One point 48 billion dollars that was yesterday at one point 48 billion.

Meanwhile looks like UPS's effort to acquire TNT express.

Is officially dead.

As expected EU antitrust regulators have blocked UPS -- seven billion dollar bid to acquire the Dutch shipping company.

Saying the proposed merger would have reduced competition in fifteen EU countries.

Earlier this month UPS said it would withdraw its offer because of the regulators' concerns.

The deal would give -- the company access to TNT stronger networks in fast growing Asian and Latin American markets.

Here's a look at commodities oil and gold are up at the moment we have oil up by about 32 cents gold is up three -- Imus in the morning continues right now on Fox Business.

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