We are looking at the reliably of the electric grid, with state utility were presented to us. You are watching live coverage on cspan 3. My heart is full of gratitude. That is the thought right now. To all of you, to my colleagues, to the staff, being the chairman of the house and conference committee, is the ultimate thing in congress. This is been the best. We have a whole other year ahead of us. Thank you for your service. [ applause ]. We have a lot of work to do. Go ahead and get started. State utility regulators have challenges. They have affordable electricity. They have this during this congress. They understand what drives the growing reliability crisis. This is from the entire electricity portfolio over an extended period of time. They have different retail choices. We are relying more on transitional organizations. This is due to environmental growing regulations and agencies. Fans will be on foster fuel generation, and market distortions. These factors are contributing to p
Morning. Five banks have been hit with major fines. Kayla tousche joins us on set with some of the details. This is the settlement weve been speccing for weeks, for months. An 18month investigation by authorities in the uk as well as the uk as well as switzerland have announced a joint settlement with five banks, urging them to pay more than 3 billion to settle charges of key Foreign Exchange rates in the 4 00 hour is when most of the activity, according to the press releases, happened. Its going to be a costly one for many of these banks. Ubs will pay the most at about 800 for a threeway settlement. The cftc in the u. S. And the federal authority, as well. Citibank will pay 668 million to the fca and the cftc as that Bank Adjusted earnings by 600 million just a few weeks ago as it was setting aside more money for this settlement. Jp morgan chase will pay the two u. S. And uk regulators. Hsbc, 618 million. Even though these are pretty big sticker numbers, guys, it does seem like pretty
Thank you, madam chair. And thank you for holding this hearing. I appreciated. I know this is a focus, this panel on cybersecurity but weve also talked about reliability and a new the next panel can focus on the. I appreciate your willingness to move forward on figuring so quickly after your taking the chairmanship. I like to ask a couple of questions because we have great experts here who may be can give us a preview of what were going to next also for us to be able to compare and contrast with her from some of the industry folks. First i guess, chairman lafleur id like to hear from you a little bit about what you think we ought to be doing in terms of reliability. You were quoted as having said am also very concerned about the price both the applet magnitude of price spikes and increase we saw this when it when we see the ice spikes its a symptom protecting reliability is causing this issue. Can you elaborate on that . Is that an accurate quote . Yes, but always in the context. We ha
Afternoon live im simon mccoy. Today at 2pm. Trading on wall street was halted immediately after stock markets crashed creating an automatic cutout. No need to panic buy the government says it remains focused on containing the spread of the coronavirus as the Prime Minister chairs a meeting of the governments emergency committee. There is absolutely no need for anybody to stockpile or anything like that. We are in Constant Contact with the major retailers. Italys Prime Minister says his country is facing its darkest hour with 16 Million People in quarantine. The trial begins of alex salmond former first minister of scotland on charges of Sexual Assault and attempted rape. Coming up on afternoon live all the sport with jane dougal. It has been confirmed and added the six nations match between france and ireland has been postponed because of fears of the coronavirus sewing the tournament into disarray, but as it stands, wales against scotland a man in cardiff will go ahead. Thanks jane,
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