You're watching...
FBN’s Diane Macedo breaks down the stories moving the markets around the world.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
This is -- Imus in the morning program on the Fox Business Network.
I have a -- Morning everyone US and British regulators are reportedly set to announce a settlement with the Royal Bank of Scotland.
Over interest -- rigging allegations according to reports that deal is expected to be announced today.
RBS says it expects to pay significant penalties to settle -- probe.
Which estimates say could hit 627.
Million dollars.
If the deal goes through it will make RBS the third global banking giant to agree to settle charges of tampering with Libor rates.
Google has won a legal victory in Australia the High Court there.
Ruled that the company did not breach consumer protection laws -- that sponsored links and that it wasn't responsible for messages from paid advertisers.
That ruling helps Internet providers and search engines argue that they are not publishers just carriers of information provided by third parties.
And of the judgment only applies in Australia the ruling will be closely watched around the world.
And could be cited as a precedent is similar cases -- Checking the markets now here in the US features seven searching for direction a little bit this morning we have Dow futures up seventeen SP's up one lot of nasdaq's and changed.
In Europe we've also seen.
Mostly mixed markets this morning on the ballot 27 while Paris is down about nineteen points and -- down not to.
Much off that now we aren't getting earnings and now from Time Warner.
Media yeah.
Is reporting an adjusted profit of one dollar seventeen cents a share topping the estimate for a dollar ten.
Revenue came in at eight point 22 billion dollars just about in line with the estimate for eight point.
Are you came in at eight point two billion the estimate was for eight point 22 billions of just about in -- there.
Let's take a closer look now.
Out what's moving the markets before we do that we have earnings and right now from -- yes let's do that first CVS Caremark the pharmacy companies reporting an adjusted profit of 97 cents a share.
The estimate there was for a dollar tends that was -- -- revenue came in at 31 point 39 billion dollars and that beat the expectation.
For 31 point thirteen billion now let's take a closer look at what's moving the European market -- to market analyst.
At a idea money got asserting that the ways we got they interrupt you Chris but.
I wanted to talk about this new report out today -- raising concerns about the eurozone governments.
In financially troubled country's increasingly guaranteeing bonds issued by banks and other state owned entities -- report says if any of those banks -- companies have trouble paying back their debt the countries themselves will be on the -- now.
Does this worry you -- -- When I think if the agency ratings and try to become more popular this is not the way to go fountains -- -- it was a a sign of -- of -- in the -- and lobbyists within the same can be said.
Coupled with any country on the body I didn't have -- -- -- -- pension funds -- the US is well then those countries financial positions look far more precarious set.
And so what his -- sales price for the southern European space to do this for the early to give a true reflection of their financial states.
Fun on the anatomy should these countries have to include these liabilities on their books and maybe all of them should have to put all those liabilities you just mentioned.
On their books particularly if they're becoming more more fragile -- more likely to default them.
-- it would give a put a true picture of how that actually faring of course confront these countries are backed up by the found of the ECB and by Germany would think.
And perhaps the picture is not as bad as fit but I think in the eurozone.
It is -- -- -- unnecessary pressure.
I think initial terms -- it -- to ought to do their best to implement austerity measures is there another alternative to their pressure right now.
Maybe -- alternative suspecting their time their place introduced these measures and maybe now when confidence is still fairly precarious skiers and maybe now isn't the best time -- balances.
All right that's frisbee to that I G in London thanks to announce that as -- appreciate it.
And it's official Liberty Global has struck a deal to buy Virgin Media for about sixteen billion dollars.
Under terms of the agreement Virgin Media shareholders will get about 47 dollars and 87 cents in cash and stock for Virgin Media share.
A 24% premium to the company's Friday closing price.
Virgin Media which has a market value of ten point six billion dollars sells cable TV telephone and broadband Internet services.
The deal is aimed at helping liberty better compete with UK market leader B sky B.
Which is owned by -- court the parent company.
Of the Fox Business Network.
And shares Walt Disney rose nearly 3% in extended trading after the media company topped Wall Street expectations.
With its first quarter results -- kicked off earnings season for the big media companies on a positive note.
The company reported an adjusted profit of 79 cents a share three cents above the forecast.
Net income was hurt by litigation charges and expenses tied to equity redemptions at Hulu.
Revenue which was up 5% from a year ago came in at more than eleven point three billion dollars not also topped the expectation.
Overall the company enjoyed year over year growth in nearly all of its businesses especially media networks.
Let's take a look at commodities now oil and gold are down this morning miles out about sixty cents gold is down a little more than a dollar.
Imus in the morning continues right now on Fox Business.
