Defense department testified on the management of the departments annual budget of 600 billion. And why he thinks its important to conduct and audit. This is an hour and 45 minutes. O order. We welcome the committee will come to order. The Committee Welcomes mr. David norquist, undersecretary of defense and comptroller as our witness today. The topic is the audit of the department of defense which by law begins this fiscal year. I would say its not by accident the committee would start our year on this topic. Requiring the Department Conduct an audit has been a bipartisan requirement of this committee for some time. From 1990 it required all federal departments conduct a financial audit and partly with frustration of the lack of that in 2010 they required the audits be ready by 2017. They put close scrutiny on the departments efforts and issued a number of recommendations to allow us to arrive at this point. The 2014 required an audit be required of the departments fy 18 Financial Stat
Departments annual budget of 600 billion. And why he thinks its important to conduct and audit. This is an hour and 45 minutes. O order. We welcome the committee will come to order. The Committee Welcomes mr. David norquist, undersecretary of defense and comptroller as our witness today. The topic is the audit of the department of defense which by law begins this fiscal year. I would say its not by accident the committee would start our year on this topic. Requiring the Department Conduct an audit has been a bipartisan requirement of this committee for some time. From 1990 it required all federal departments conduct a financial audit and partly with frustration of the lack of that in 2010 they required the audits be ready by 2017. They put close scrutiny on the departments efforts and issued a number of recommendations to allow us to arrive at this point. The 2014 required an audit be required of the departments fy 18 Financial Statements the results of list are to be delivered next ye
Funds will not down fortunately no injuries to firefighters were talking about a quarter to one half an acre of palestine when inflames it was near some of the building so to buildings partially damaged from this were not exactly sure once the workers come back to the scene if they even have a job to work this morning before they convict an extensive repair as far as the cause of the fire right now the santa do not know because this place was shut down in the overnight hours. Will tran no one was working at the time on the surface of the very suspicious but they said because i always say they use a lot of equipment to cut the what an a cappella sometimes the sparks had sawdust and then they move through the sawdust and the overnight hours and it hit the pocket of air aconite and that can cause the palate to go inflames but of course our some investigators are still on the scene as well once theyre probably ever to go inside to find the exact cause of the fire. 24 falling revenues of th
Countrys most populous state. The christian democrats beat the. Ocial democrats the social democrats won less than 31 of the vote. It is their worst showing since world war ii, boosting Angela Merkels momentum for septembers national election. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. I am mark crumpton. Julia live from bloombergs world headquarters, i am julie chatterley. Scarlet im scarlet fu. Joe i am joe weisenthal. The question is what did you miss . Companies hit by global cyber attacks. Is this an opportunity to buys security stocks. New french president and Angela Merkel are pledging to Work Together in the face of a troubled eurozone. Onomberg is drilling down what tax reform will look like and how it will impact business. Clerics now lets look for the major averages. Ins, the dow and nasdaq higher. His means more records the s p 500 is narrowly close to a new record close. The nasdaq seems to h
Ecb, comey, and the testimony, and the u. K. Election. Markets are less cautious in yesterday. We are seeing stocks rise for the first day in three. Most of these currencies falling against the dollar today. Sovereign bond yields rising. We will get to lots of corporate news. Opular,er, banco p santander agreeing to buy it for a nominal one euro after regulators determine that the lender was likely to fail. Santander raising about 7 Million Euros for a rights issue to bolster the balance sheet. The lender will require all of the stock shares resulting from the conversion of its imposing losses on the banks shareholders. The ecb will be the big event tomorrow. Today, according to people familiar with the matter, the ecb will cut its inflation forecast. The euro is little changed now. Tomorrow is the big one. This is our wonderful function, telling you everything you need to know about matters of the european union. These are the polls ahead of the election tomorrow. The majority believe