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I'm -- sort of born in -- On the -- -- Good morning everyone the Vatican press office has announced that Pope Benedict the sixteenth will resign at the end of this month.
Because he doesn't have adequate strength to continue in office the resignation will be the first by -- -- -- the nearly 600 years.
And that decision sets the stage for a conclave to elect a new -- Before the end of next month.
Turning -- to the weather the northeast is still trying to get back to normal this morning after a weekend that dumped almost four feet of snow in some areas.
Let's get the latest now from the auditorium Alina in the Fox Business -- -- -- -- Hi good morning Diane and good morning everyone and we saw severe weather over the weekend in the form of tornadoes across portions of Mississippi.
Even tornado warnings were issued across Alabama and as far west.
As a state of Texas and unfortunately -- we do still have another race for some isolated severe weather won't be as bad as yesterday's risk the please sailor if you look anywhere across the southeast also expecting some heavy thunderstorms out here.
So flooding -- -- concern across northeast throughout your morning commute many of you will have to deal with some light snow and even some freezing rain and this comes on Monday just a couple of days.
After the nor'easter that impacted us Friday into Saturday and -- across north central blizzard warnings posted and also winter storm warnings.
With as much as sixteen inches of snow forecast.
All right that's Maria Molina for the weather center thanks -- Let's take a look at the markets this morning is no trading in the major Asian markets for the Lunar New Year holiday Chinese markets are closed all week.
Hong time -- about Hong Kong that is returns Thursday the Nikkei they'll we'll be up and running come tomorrow.
In year of finance ministers are meeting in Brussels to discuss Greece and Cyprus today stocks in Europe are up across the board -- up about thirty points -- up.
Almost 25 in Frankfurt's up about seven.
Here in the US we've been looking at green arrows all morning Dow futures are up 32 BS and meanwhile more more employers are cutting workers' hours to avoid health care costs.
Under the Affordable Care Act but the moves not just limited to private companies anymore Lawrence and -- Has more on that from the newsroom -- governments are starting to -- -- to now.
Good morning Diana and the difference between 29 and thirty is being under the new health care -- workers are working thirty hours a week they're consider full time.
And that employer has to give them health insurance -- working 29 hours you come under that threshold and he can save some money through the employer.
We -- many businesses cut back on hours but now we're starting to see state governments do the same the state of Virginia.
Set to cut back many workers time to 29 hours to -- them a 110 million dollars a year.
-- not to mention several community colleges and state universities in Ohio and Pennsylvania doing the same so these are consequences of the high cost of the new health -- law.
And -- what's this about Google making it so I don't have to worry about remembering 5000 -- and I cannot -- -- thousand password she need a certain number of letters a capital letter and number remembering what can be asked -- get -- point the capital letters below.
Not now -- any -- contains a man rotation every couple of weeks at Google is saying essentially that the password is so 2012.
There working on new ways to a reply the password with something like -- USB -- Where you can putting your Smartphone are honestly you can -- -- it could go on your ring on your bracelet and you can log in that way.
Obviously it is raises other concerns such as what -- that USB is stolen.
But still it might be.
Very favorable for a lot of people like us you can't remember passwords.
Current Lawrence cement that even the newsroom -- line are.
And they're still talking but the boards of American Airlines parent AMR and US Airways have reportedly delayed -- meeting.
To discuss their potential merger until Wednesday a source tells Reuters AMR needs more time to finalize details including.
AMR's CEO Tom -- exact title and role in the new company.
On Friday US Airways pilots approved an agreement covering their pay and working terms if there is a merger -- you might remember American pilots approved a similar agreement back in December.
The eleven billion dollar deal would create the world's largest airline.
Let's take a look at commodities now oil -- gold have been searching for direction a little -- this morning we have a red arrows there now with oil down almost thirty cents trading -- 95 dollars a barrel.
Gold is down a little more than nine dollars at 1657.
And apple meanwhile is experimenting with designs for a watch like device that would perform some functions of a Smart phone.
That's according to the Wall Street Journal which says apple has discussed the gadget with -- -- manufacturing partner Foxconn.
The newspaper says Apple's efforts come as companies have unveiled different kinds of wearable technology mainly decide to measure physical activity.
Now the more sophisticated devices -- big technical challenges.
But also are attracting investments from large technology companies.
Analysts and investors -- familiar with the field.
Predict apple will release a product with many different functions -- work closely.
With the company's -- phones and other devices Imus in the morning continues right now on Fox Business.
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