June 29 - Global stocks jump after European leaders agree to take steps to stabilize the region's finances.
Well this brief time as it's Friday from Reuters world headquarters in New York. Progress in the eurozone no not a joke leaders actually -- -- to take some steps to stabilize the region's finances. Dow NASDAQ S&P 500 all with some very strong gains here at the open. In Europe -- even bigger with Italy up nearly 5%. Our power player of the day playing a key role new French president Bronislaw all on. Hot with the end of our currency Frentzen Germany could make nice so fast. Anglo American rules saying she is working well with all Bob let's go to Nigel Stephenson in London not to what agree on the bit of a surprise. And us. Probably an understatement for the morning Rhonda opposite ropes trust the press conferences in the last few days today medical angle on the -- to be singing off the same hymn -- It's not the same level of coziness of course enjoyed by Merkel and Sarkozy for the sending a -- players that. They have agreed to bend that aid rules to shore up banks and bring down the borrowing costs at the likes of Spain and Italy they've also agreed on a growth package we'll have details on that remained vague. What about guest this morning says he has no silver bullet to solve the crisis but there is some progress. -- meantime there's more trouble for some of the UK banks we've got a lot port probe it's continuing we know Barclays is paying a huge fine. Someone else to -- it's not over yet. It certainly isn't on the financial regulators are really getting that teeth into this one above -- and his president Lee hanging onto his job now bomb case. But the times newspaper saying all BS is in line for a fine of a 150 million pounds for its part in the scandal RBS as a fine or settlement is not certain. The moment. Well meanwhile today regulators have also found Barclays HSBC RBS and -- old guilty of miss selling products to small and medium size companies here in the UK so more fines on their way. -- -- -- looks set to continue with more banks possibly US -- expected to be named in the near future said no sign that trust in the banks has been restored and all right -- That means I'm regulators in the US have been busy is well they've intensified -- JPMorgan and -- trials. After that multi billion dollar trading loss. Wall Street Journal reports regulators want to see if the bank's risk models things that -- everything from trading losses industry news. Are working properly. And that brings us to our daily digit today between four and nine billion dollars depending on who you want to believe. But those estimates being tossed around is the final cost to JPMorgan for those failed trades. It's like watching a poppy die it's terrible that's how one analyst is describing the latest troubles that Research in Motion. The Blackberry maker delaying them make or break launch of its newest device until next year sources tell Reuters written under pressure to consider once unthinkable options. Such is forming an alliance with Microsoft or selling its network business. Shares taking yet another -- analysts cutting their price targets as low as Spybot. Well it's extremely rare and when it happens it ain't pretty but happen it did in Stockton California if said he had no choice but to file for bankruptcy after swimming in debt. Stockton with 300000 residents that the largest American city to ever filed for chapter nine bankruptcy protection. If it was burdened by years of fiscal mismanagement. And a housing market crash. Finally every woman's dream scene and try to deal with high heels in. Not only walk but run it by high heel race with part of Madrid. Gay pride festival -- -- had broken heart but a broken -- -- winner did take home 500 euros. I mean clearly not right there. That is related things I've read this Friday you can follow -- that letter writers either. And check out our writers TV channel at this dot com slash latest TV. I'm Rhonda schaffler is its writers.