Good evening. Welcome. The chair of the Federal Reserve meant what she said. The central bank will move carefully and cautiously when determining when to raise Interest Rates. Janet yellen cited a weak Global Economy. The dow gained 90 points. The highest close of the year. The nasdaq added 79 and the s p 500 rose 17. Miss yellens tone remains in sharp contrast to other fed officials who during the past week were more upbeat on the committee and said the time is near to hike. We have more on the fed chairs cautious sign. The question is being raised has the Federal Reserve retreated from the rate rising regime. Markets from gold to fixed income to stocks reacting that janet yellen laid out an out look for rates today. She suggested greater gradualism is warranted in raising rates and emphasized the risk from Global Economic weakness to the u. S. Economy. Developments abroad implied that meeting our objectives will likely require a somewhat lower path to the federal funds rate than was anticipated in december. Given the risk to the out look i consider it appropriate to the committee to proceed cautiously in adjusting policy. Fed observer said the fed chair is clearly in no hurry to undertake the next rate hike. Dana said curiously for a central bank, yellens speech focused on Downside Risk than those to the upside. Remember that several med members have pointed to the possibility of an april or a june rate hike if the economy continued to improve. Granted it has deaccelerated cently but yellen offered little possibility of rate hike next month or made it unclear when the next rate hike would come. She also questioned the one obvious reason for hiking, rising core inflation. Yellens kmebt said the decline in Interest Rates offset recent weakness from abroad is another way of saying shes fine where bond yields are priced rite now. Thats an admission that yellen agrees with the market priced in which is to say not many rate hikes as all this year. The San Francisco fed president agrees. The pace of rate hikes should be gradual. In a speech in singapore he said that fears about the impact of a slowing Global Economy are overdone. He also characterized the u. S. Economy as chugging ahead and there are some encouraging signs on inflation. Home prices rose faster than incomes in january. The s p case shiller home price index increased. A strengthened labor market and low mortgage rates. Prices have risen more than two and a half times faster than average hourly wages. Consumer confidence bounced back this month. Outlook rose thanks to rally in the stock market. According to the report that helped offset a rise in gasoline prices. In washington today, the Supreme Court issued a split decision on a challenge to union fees. The four to four tie preserves a long standing rule which allows states to mandate fair share fees from nonunion workers. The case was brought by ten California School teachers who chose not to join the union but are required to pay a fee. Todays decision set no precedent. Theres been two deadlocked cases. The federal trade commission su volkswagen. They falsely advertised th edad. It allowed the company the cheat emissions tests. They are already facing a criminal investigation in the u. S. And numerous lawsuits. The white house is stepping up efforts to fight the exploding epidemic of heroin and Prescription Drug abuse. This is in addition to more than billion dollars in funding requested last month. Dena reports. Reporter opiods, including prescription painkillers and heroin killed more than 28,000 people in 2014, more than any year on record with half of all opiod overdoses involving a Prescription Drug. A topic he and the u. S. Surgeon general spoke about today. Since the turn of the century, opioid prescription have skyrocketed. We have nearly 250 million prescriptions for opioids written every year. Thats enough for every adult in america to have a bottle of pills and then some. Reporter the president said his administration would provide about 100 Million Dollar specifically for Community Health centers so people have more access to treatment as well as. We have proposed an additional billion dollars for drug treatment. The problem we have right,000 is that treatment is greatly underfunded. Reporter another 11 million would go to states to buy and distribute a drug that can reverse the effects of overdose. The centers for Disease Control and prevention released a new guideline for physicians that prescribed the painkillers. Selecting appropriate dosage and assessing the risk in harm from opioid use. They are not mandated but a tool for primary care providers to use for reference. A recent survey revealed a spike in many Rural Counties across the country. Fueled by Drug Overdose deaths. Much of that attributable to loss of workplace possibilities. Time to cut down on opioid use even in the emergency room. Pain management is different in a hospital setting. Using cocktail medications they will try to minimize the amount of opioids the patient gets trying to prevent further addiction. The problem with transferring that type of resourcefulness to the outpatient setting is you just cant inject all these drugs into people were walking around. Simple medication that they could take every day. Still ahead, content has been king in the sports tv business but is that about to change. The government has officially withdrawn its battle against apple. The fbi found its way into the iphone use without apples help. While this court case may be over, the debate over privacy versus security is not. Some key questions still remain. The u. S. Government surprised a lot of people when they announce that i had wed droppi their case. The government said an Unnamed Third Party gave them an solution to get into the phone and the government no longer needs apples help in doing that. All of that ends this particular case, but were left with a bunch of Unanswered Questions including who helped the fbi. The government is not saying. Just that its an Unnamed Third Party presumely, not another element of the u. S. Government itself. Will the government tell apple what this new exploit is. The government is likely to view this as a very useful solution here. Apples likely to view it a as threat for security to the iphone. Theyd like to patch it and apple would like to fwhee the government did to unlock that phone and is my iphone more secure. Presumably the answer is no. Other than that, its hard to see how this is a threat to the average persons iphone security. Then the big question. What is on the iphone . Thats what started this debate. The fbi said they needed to take extraordinary measures in other words to get into that phone and get that information. Now at some point in this investigation, we should find out whether that was anything useful on the phone or not. In a side note to that story, more americans side with apple in its battle with the government according to a new survey. 57 of americans agree that privacy concerns trump the needs of law enforcement. Thats an increase from 53 in december. More than 800 americans were surveyed from march 21 to the 23rd during the brussels terror attacks. Baseballs opening day is less than a week away. Some new york yankee fans are crying foul. Since november the Yankees Yes Network has been blocked out by comcast. Its the latest fight over the rising costs of sports rights. It could represent a major crack in the tv sports business. Comcast and foxs yes network has been locked in a stand off over fees since november when comcast blacked out the yes network and the pressure is onto strike a deal ahead of mondays opening day. Content has been king in the sports business. I think weve reached a bit of an inflection point, particularly with Regional Sports network where the distributors say enoughs enough. Weve got four Regional Sports networks in new york. We have five in l. A. Comcast points out it serves less than 10 saying yes is the most expensive Sports Network in the u. S. And trying to increase prices by so much we can no longer justify carrying it anymore. The yes network responding hands down yankees telecast are among the most popular sports programming in the u. S. They are consistently among the top three rated services in the area. This stand off speaks to tv distributors focus on rising sports cost which account for a third of the average cable bill according to snl. This isnt the only battle over rising Regional Sports fees. Time warner cable distributes it fold it last week offering to cut the price by 30 . This pressure on regional was a far cry from the rising value of National Sports. Its important distinction to make because the National Sports rights marketplace is vibrant. I think youll see a lot of competition but for other major leagues National Rights packages. Rising fears consumers opting for lesser tv bundles, we can expect them to look for ways to trim their customers bills. That quickly add up. Comcast is the Parent Company of cnbc which produces this program. Yahoo sets a deadline for potential buyers to bid. Thats where we begins tonights market focus. Perspective buyers have until april 11th to submit preliminary bids for core web businesses and its stakes in yahoo japan. Shares of yahoo up 3 on that news. The discount retailer tjx is raising its quartzerly dividend 24 to 26 cent a share. The yield on the stock is 1. 3 . Shares of tjx, owner of my wifes favorite store home goods rose. Boy, the afternoons ive spent there. Sun edison may soon seek bankruptcy protection. They he the resources to support its on Ongoing Operations if the Parent Companies files for bankruptcy but it did delay filing of its own annual report. Shares of sun edison fell more than 56 to 55 cent. According to an fcc filing, warren buffet has increased stake in wells fargo by 10 the they had a 9. 8 stake in the bank. Buffet said he had no intention of managing wells fargo. Shares of the bank fell more than a percent. Conns reported a more than 90 drop in its quarterly profit. The company attributed to lost to customer delinquencies and store expansion. Revenue came below estimates and sales are expected to miss target. Shares fell 24 . A group of lawmakers has requested a public hearing to lower the cost of a Prostate Cancer drug made by Pharmaceutical Company medivation. In some cases the medication costs four times more in the u. S. Than in other countries. Lawmakers said the drug was developed with the help of taxpayer dollars. Shares fell 6 to 38. 75. Discount airliner Virgin America may be attracting some suitors. Jet blue and Alaska Air Group will make takeover bids by tend of this week. No airline has commented on the news. What happens to a favorite brand when it gets bought whether its a hotel with a Great Loyalty Program for frequent guests or a Discount Airline like Virgin America that promises customers they can have it all. What are the chances of the brand and that original companys mission surviving under new ownership . Lets turn to dean crutchfield. Dean, always great to see you. I know i dont have to say much to get you started. Lets say i love Virgin America airlines and a new Airline Comes in and takes them over. What do i need be on the look out for. Theyll all say the right things. Well protect the brand. Sometimes the performance isnt there. Its not there. In fact, its estimated up to 70 and mergers fail. The first is the heavy aspirations of th team on friday dont really translate to business as usual on monday. The secondary is the acquiring company blows out, forgets or overlooks a company with a Better Process and better culture. United buying continental a classic example of that. The third reason it fails is because of fear. Fear to admit youre buying theres going to be massive change and fear theyre worried about jobs, teams and that slows down the process of success. Buying a great brand is what people want. Often whats being sold is the opportunity to streamline and products and services, et cetera. Why not just, if you know youre buying a terrific brand, why not try and embrace the good parts of that particular brand, for instance, the Loyalty Programs and things like that and try to make some of that your own . I think a lot of this comes down to sheer ego in terms of that deal team, ceo is leading that and how they sold that to investors means thats all theyre interested in. Its a big numbers game. The problem is they overlook the fact that someone like virgin does have really good process. They do have a great culture. Alaska airlines has the hardest job. A brand like jet blue is known to be a challenge and has a strong process and a very strong culture and loyalty. That would be the more viable of the two in terms of the success rate they would have. Can you think of mergers and acquistions that protected the integrity of the acquired brand well. You mansion your company the way its been running because thats why welik liked you in the firs place. You had them on the segment. It allows them to thrive. Theres a really good example. There are others that are thnoto good. All they did was allow it. Thats the difference between being invr and running the brand, right. Exactly. Its being back off as an investor is more of an active owner. Thats where the magic happens. How do you make that happen . Youre dealing with a business thats frighten. There is fear in the organization. That can really screw things up. Excuse my french. We got you. Thank you very much. Dean crutchfield. Speaking of changes, these are a bit different. New changes, new deductions. How major life milestones can change your tax return. The head of the worlds seventh largest economy is one step closer to being ousted. Brazils Largest Party said its leaving the governor and coalition and pulling the members from her government. According to writers, once members leave they can vote for her impeachment. The opposition is pushing for her ouster for breaking budget laws. Brazils economy is on track for its worst twoyear downturn in more than a century. Its the case that has all of wall street talking. A prominent financer is now in handcuffs. He was charged in a 95 million fraud scheme. Reporter Andrew Casperson was fired about two weeks ago from his job. It helped investors buy and sell stakes in private equity firms. Hes alleged to have scammed one client into putting 25 million into a new investment that didnt exist and most of which went to his personal brokerage account. He had plans to defraud i ve investors out of 70 million more when the firms and authorities began their investigation. It carries a sentence of up to 40 years in jail. He billed shale companies, fake websites and email companies to carry out this scheme. Its believed he acted alone and communicated to clients his confidence in that. Still unknown, who were the as yet unnamed private Equities Firm involved as victims. Where did the money go . Prosecutors say they cant find what was in that account. What would motivate him to go to such lengths . His father filled Beneficial Corporation and from that wind fall became a philanthropist and major gop donor. He took his life six yea r a battle with cancer and some financial troubles. The family insisted they could not pay the 20 million bail. The 5 million agreed upon is secured by caspersons two properties. The next hearing indicates its scheduled for april 26th. Its very much alive investigation on behalf of the government and firm itself. For nightly business report, im kay kayla. Gncht etting married, having a baby or retiring are all big life events. They change your life a lot. Not all the news is bad but theres a lot to think about which is why we have sharon here to navigate the tax. Lets start with marriage. Lets start with love. Say you just tied the knot. What do you need to do with your taxes . The first thing you need to do is not panic. Your tax situation will be great. Adjust your with holding. Thats first thing you need to look at. How much tax is coming out of every paycheck and with each life event thats an parent thing to do. If your spouse doesnt claim as much money as y much money as yt claim them as a dependent. Adjust your tax withholdings through your Payroll Department . Yes. What if you got untied and divorced . Alimony, if its paid i realize about that. Some people, not you. Some people may not realize that alimony that when you pay it, you can deduct it. If you receive it, its income. You have to pay taxes on that money. The other thing is only one parent can claim the dependents exemption for the child. The Attorney Fees are not deductible. That doesnt seem fair. That last one doesnt seem fair. Child support is not deductible. No. The average cost of raising a child to age 18 is over 245,000. Ive got three. My god. Kids can bring some pretty hefty tax breaks with them. The a good thing. Thats 1,000 per child. The dependent care credit a lot of people can take advantage of. You can claim 20 to 35 of that in terms of taking that exemption or deduction. Its a credit dollar for dollar. Thats 2100 you could get. What are a couple of the things i need know about if im retired . Pensions and annuities could be taxed at your ordinary tax income rate. Definitely your pension is something to consider and annuities in terms of parts of it. You need to check with the company to see what parts might be taxable. Social security, this is the thing a lot of people dont realize. Some of those benefits could be taxable. All right. Thanks, sharon. Sure. Need to write another book. That does it for nightly business report. Im sue herera. Thanks for joining us. Im tyler mathisen. Have a great evening, everybody. Pay your taxes. See you tomorrow. Hollar tonight on revolutionaries. Van dyck its this incredible thing thats happening where in the process of actually delivering Digital Services that work better for people and making it easier to get the care and the access to people who need it, we are also, conveniently, saving tons of taxpayer dollars and making government more efficient and effective at the same time. Hollar the u. S. Digital service team is sometimes referred to as president obamas stealth startup and the digital equivalent of the peace corps. Tonight, we will hear from the brain trust of this Landmark Initiative and learn how the federal government is harnessing technology to provide accessible public services
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