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Simpson/Bowles to Unveil Deficit Reduction Plan

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  • Description

    FBN’s Diane Macedo breaks down stories moving the markets ahead of the trading day.

  • Duration 5:02
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This is this Imus in the morning.

I'm gonna find them.

Good morning everyone -- dismissing the extent allegations pointing to a Chinese military unit.

As a source of a massive US computer hacking -- the Chinese Foreign Ministry called the claims ground -- in response to report.

By Internet security company Mandy and which says it traced more than 140 major hacking attempts to a military building in Shanghai.

The report says he -- targeted twenty industries including.

Military contractors and companies have access to energy grids China has frequently been accused of -- but says it strictly outlaw the practice.

And says it has been the victim of such crimes.

Meanwhile deficit hawks Alan Simpson and Erskine vols are releasing a detailed plan for re -- the tax code and imposing -- is spending cuts.

The plan from Simpson a Republican and -- a Democrat would reduce the federal budget deficit by 2.4 trillion dollars over ten years.

That's more than the White House's goal of one and a half trillion dollars the proposals aimed at reaching a compromise among Democrats and Republicans.

Simpson Bowles co chair the White House -- -- ten deficit reduction panel.

Which assembled a bipartisan package to tax and spending changes but it wasn't embraced by the administration or congressional leaders.

Let's take a look at the markets now over in -- German economic sentiment came in with a better than expected reading for February.

Jumping to 48 point two up from 31 point five in the previous month stocks -- up across the board.

London's up a little more than thirty -- up about fifty records up almost -- rather Paris is up about fifty here in the US markets.

Are back -- after the President's Day holiday in futures are also in the green we have.

Dow futures up thirteen yes -- at two and that's except little more than six.

Meanwhile Hotmail users get ready to case your current email service goodbye and say hello to Microsoft Outlook.

And -- live from our newsroom with -- more deep killed on Microsoft's new email planet's going on -- Adam.

Well Microsoft allowed announced last night Diane that I Hotmail is not necessarily hot mess but it's out here they're gonna shut it down in the gonna migrate millions maybe even hundreds of millions of accounts that are associated with -- now.

Over -- outlook dot com outlook dot com was launched what six months ago has sixty million users when they migrate all of these accounts from Hotmail and outlook.

Outlook dot com and they say that'll take place by this summer.

It'll be one of the largest free email services in the country.

And they're promising Hotmail users that you'll lose no data you still have your messages.

You still -- your contacts it will all be seamless and easy where have we heard that before but.

-- -- -- by this summer.

Well that doesn't work out maybe a little piece of the meteorite might make them feel better at a.

Talk about this okay so you've seen that really cool video of the meteor exploding in Russia well apparently thousands of Russians -- -- and east.

The -- and what 900 miles east of Moscow or that thing exploded look at for itty bitty teeny tiny fragments of that meteorite.

Because by some accounts they're selling for up to -- you sit down.

2200 dollars a grant to put this into perspective that's roughly forty times the price of gold.

28 point three grams and an ounce gold's going at 16110 bucks an -- That meteorite is worth more than its weight in gold.

Don't ask me why perhaps God's those coming out of that lake and a copy today but it's gotta gee whiz factor and -- try to cash in on.

Maybe some as you look at recovers some of the damages they suffered from the explosion in there is I think stuff right out of -- from the newsroom -- -- take care.

Shares of OfficeMax and Office Depot are higher -- premarket on news of merger talks.

Sources say office supply chains -- in advance discussions and could announce a deal as early as this week.

Both companies which -- industry leader Staples under heavy pressure from investors to boost profitability as well as shareholder value.

A merger would help them cut costs close stores and boost their clout with suppliers.

Office -- -- nearly 17100.

Stores worldwide mostly in the US and Canada office Max has about 900 stores between US and Mexico.

Neither company is commenting on the story.

We -- -- now from Red Robin restaurant chain is reporting an adjusted profit of 59 cents a share topping the estimate for 44 cents.

Revenue of 240 point seven billion dollars million dollars that is was also be over 232 point three million.

And the Wall Street Journal is reporting union the union represented Boeing engineers.

-- at the start counting ballots today on votes to authorize a strike or except the company's latest contract offer.

The balloting comes as Boeing works to find a fix to overcome.

Overheating.

Lithium ion batteries that have grounded at 787 dreamliner jets worldwide for more than a month.

Boeing -- said it has hundreds of engineers working around the clock to solve those battery problems but a strike could delay that effort.

The last time Boeing engineers voted to authorize a strike is back in 1999 and it led to a forty day walkout.

Here's a look at commodities now oil and gold have been mixed all morning -- oil now down by about eight cents gold is up almost four dollars.

Coming at this hour -- another performance from -- trucks and now here's the I'm and live on Fox Business.

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