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Report: Americans aren't saving enough for retirement
Christine Romans is minding your business with details from a study on retirement savings, and the latest on U.S. stock futures and world markets.
An EBRI report reveals that people are not putting aside enough for their retirement. “You’ve got 57% have less than $25,000 in savings,” Romans says. “That is not enough.” Only about 12% has more than $250,000 saved. “That’s where you want to be,” she says. But more people are less confident about saving for retirement due to job uncertainty, day-to-day expenses and high debt.
Stock futures indicated slightly lower opens this morning as the recession deepens in Europe. Cyprus is set to become the fourth European country to get a bailout and possibly be a headwind for U.S. stocks. After a major rally, “the market's been ripe for a pullback,” Romans says, “so tread carefully here.”
Zoraida Sambolin goes behind the big top for Cirque du Soleil's 'Totem'
For almost 30 years, Cirque Du Soleil has been entertaining audiences with its visual and acrobatic artistry. The latest production is called "Totem." Inspired by mankind’s origin myths, Totem show traces the evolutionary journey of the human species from an amphibian state to its ultimate desire to fly.
Zoraida Sambolin visits the set and talks with the artists and performers at the Big Top in CitiField, its New York City location. She even goes head over heels with one of the show's entertainers.
MYB: Cyprus bailout news leads to markets sell-off worldwide – Alison Kosik reports
Alison Kosik is minding your business this morning with the latest on U.S. stock futures and world markets.
Stocks around the world are selling off, and “you’re seeing the markets react right now,” Kosik reports.
“This is all about a little tiny island country in the eastern Mediterranean Sea, about the size of Rhode island, called Cyprus.” While it only accounts for 0.2% of GDP for the European Union, Cyprus needs a bailout and this is causing a massive ripple effect across the globe, Kosik says.
Moms say two ingredients in Kraft Mac and Cheese pose potential health risk – Elizabeth Cohen investigates
A health story that has two moms are taking on food giant Kraft. They started a petition online calling on Kraft to remove two ingredients from its "Mac and Cheese," a staple in the diets of thousands of children. These mom food bloggers say the ingredients that give it its bright yellow food color are dangerous.
Now more than 220-thousand people have signed on, asking Kraft to take out the artificial colorings yellow #5 and yellow #6. They point to studies linking artificial food colorings to hyperactivity in children, and cancer in mice. Kraft has already removed them for the European versions of the popular food. Senior Medical Correspondent Elizabeth investigates the story.
The science behind the findings is inconclusive, Cohen reports. “There was a study done in England where they gave some kids food with these dyes in it and then gave some kids food without," Cohen explains. "And they said that they then observed that the kids who had the dyes were more hyperactive." This resulted in the ban in the United Kingdom. But other scientists claim it wasn't well done study, because the hyperactivity could have been due to other ingredients.
Cohen advises concerned parents to make their own decision or their own mac and cheese.
Pope Francis meets with entire College of Cardinals – Jim Bittermann reports from Rome
Live in the Vatican this morning, the Full College of Cardinals has an audience with Pope Francis. The newly appointed pontiff meets with all of the cardinals who elected him and those over the age of 80 who did not partake in conclave. Senior European Correspondent Jim Bittermann is following the papal developments from Rome.
CNN Trends: American women want 'royal' nose & Obama's ideal Israeli excursion
According to the New York Daily News, there's something the Duchess of Cambridge has that American women really want— her nose. There’s been a surge in women asking plastic surgeons for "The Kate Middleton". Experts say her nose has a feminine look with a cute upturn at the end.
Also trending on the web is an interview President Obama had with Israeli television ahead of his trip to Israel where he appears to be channeling Joe Biden in talking about what he'd really like to do there. He just wants to wander down Tel Aviv, go to a bar and spend time with strangers! The president heads to Israel for the first time as president next week.
Pope Francis's leadership is 'about taking the gospel to the people,' says Vatican rep Father Thomas Rosica
A new era for the Catholic Church dawned this week as Pope Francis began his first day as Holy Father on Thursday. This morning, Pope Francis meets with the College of Cardinals, the group elected him, and those cardinals over the age of 80 who were not involved in conclave.
Many have speculated the direction in which the new pope may lead the church, and his first mass yesterday gave some clues. In his homily, Pope Francis hinted at the church's struggles and delivered a strong message to the cardinals: Reject worldliness, be true to the gospel message, and rebuild the church on a strong foundation...or it will come down like "sandcastles on the beach."
Father Thomas Rosica is the Vatican's Deputy Spokesperson. He knows Pope Francis personally and shares his insight on the Holy Father’s first days in office. Father Rosica says Pope Francis is just continuing to perform as he did as Cardinal Bergoglio of Argentina. “He was a pastor there, very close to the people. And he's continued that,” Father Rosica says. “He's simply changed the color of his robes right now."
Father Rosica also shares what kind of leadership to expect from Pope Francis and why the cardinals chose him. He says Pope Francis’s papacy is “about taking the gospel to the people” and the cardinals believe he has the ability to do that. “They chose someone who has an extraordinary record for compassion, for relating to people not just those within the Catholic Church, those who are good Catholics,” Father Rosica says, “but especially those on the fringes, the poor, the destitute, the disenfranchised, those living in irregular relationships, those who have suffered, those who have brought suffering upon themselves.”
Father Rosica also addresses the controversies facing the church which many expect Pope Francis to reform. Father Rosica says the papacy is beyond that and not about widening the church or addressing the particular agendas of different countries. “The pope is elected because he's the pastor of a world church."
Carnival ships 'Legend' and 'Dream' in trouble at sea – Cristina Puig reports
This week, Carnival Cruise Lines finds itself hot water once again. It’s the third time in a month and second time this week that a Carnival Cruise ship faces trouble at sea.
Carnival "Legend" is experiencing propulsion problems in the Caribbean and can't sail at full speed. The company says the ship will now skip a stop in Grand Cayman and straight home to Tampa. Just this Wednesday, power problems idled the Carnival "Dream" at a port in St. Maarten and passengers were stuck on board for hours. Cristina Puig is live in Miami with details.
BishopAccountability.org's Doyle: Pope Francis not a 'promising leader' on sexual abuse within the church
As Pope Francis takes his place as the leader of the church, he faces a growing sex abuse scandal that has plagued the church in recent years. It’s a problem he inherits and one many are hoping he will address more aggressively than his predecessors.
Anne Barrett Doyle offers more on this view live from Rome. She's the Co-Director of BishopAccountability.org, a watchdog group that serves as the largest library of documented sexual abuse within the church.
Doyle explains her hope in the future of the church now, as well as her doubts about Pope Francis reforming the issue of sexual abuse within the church. “My first concern was that the cardinals chose not to make a statement that clergy sexual abuse would be the next pope's priority,” she says. “They did not choose a cardinal who has dealt extensively with this issue."
Doyle says nothing in Bergoglio's past characterizes him as a "particularly promising leader on this issue,” but she is optimistic. A Catholic who was present in Saint Peter's Square when the white smoke came out, she says she feels profound hope. “We need someone who is gutsy and outspoken,” Doyle says. “Let's hope this particular cardinal, now Pope Francis, has a change and becomes the leader that we desperately need to resolve this issue.”
Pope Francis begins first day as head of Catholic church – Miguel Marquez reports
Thousands of people were thrilled to see white smoke billow from the chimney atop the Sistine Chapel yesterday. Then “the largest bell in the basilica signaled the election of a new pope,” Miguel Marquez reports.
The square quickly filled to capacity as the crowd gathered to witness the new pope greet the people. “Argentine Cardinal Jorge Mario Bergoglio, becomes Pope Francis,” he introduced himself to the world. “He asked the crowd to pray for his predecessor pope Benedict. Then in a dramatic and touching moment, he asked for silent prayer.”
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