Leading the s p this morning after their results. The cfo joins us this hour for an exclusive big news of the morning, fitch downgrading u. S. Longterm credit to aa plus to aaa it is the second downgrade ever by a major agency after s p back in 2011. Joining us first this morning on cnbc, the interview with the man behind that call, Fitch Ratings richard frances. Great to have you with us. Thanks for the time. Thank you i would love to know, sort of, your some color on the timing and the thinking behind the call now as some have pointed out, some of your quantitative models have been on the mend the last six months or so yeah, i mean, honestly, this is a steady deterioration that weve seen in some of the key metrics for the United States for a number of years. In 2007, general Government Debt was less than 60 . And now its up to 13 theres been a clear deterioration. Furthermore, were expecting physical deficits to rise over the next three years and we expect debts to continue to rise o
Innovations to see behind me is a i will not have a this monsoon season. The water level zillow broke off, 45. 00, your orders, record 7, and then states vcr saw heavy slogs with heavier losses. Scores of people who were forced to relocate, i live in sheltered homes for months. And this wasnt even the worst that happened. Too much i brothers. So one of the major slots this yard and was one of the worst effected data i was in the country for it was run through and have long managed the, the top you martin for these the b s. So that you have on and rugby. But the story of these rewards and their relationship with the feed is changing a bit julia, the chip just this is how the city run usually looks like. Go after that ends up. What you see behind me is it is not much doubtful. But on the 9th and 10th of july, the balance of the road became a raging thought and the 1st floor of the houses lining its banks. The one on the body may yet be knowledge of mas house was the heat, visio and the f
Family members say they were not permitted to meet the men before they were killed. President Volodymyr Zelensky welcomes the announcement of the us supplying ukraine with Armoured Fighting Vehicles for the first time. Meanwhile, russias unilateral ceasefire appears to have had little effect on the front line. Youre watching bbc news. Now, its time for talking business. A hundred years ago, oil was the most sought after commodity. Today, its these chips that run the world. They provide the Processing Power for everything we use, from smartphones to aircraft and cars to microwaves. But the fight for who controls the Supply Chains, the network of companies that make these devices, is escalating. Translation we will focus on National Strategic needs l and pool our resources together to boost Cutting Edge Research in science and technology domestically, and resolutely win the battle in key technologies. So instead of relying on chips made overseas in places like china, the supply chain for
Commerce, science and transportation committee, topics included critical mineral supply chains, manufacturing of Semiconductor Chips, workforce shortages and Rural Broadband access. The hearing runs two hours and 40 minutes. [inaudible conversations] good afternoon, the Senate Commerce committee will come to order. I think my colleagues who have been in this room for many hours already today doing double duty today on aviation hearing and very important conversation about the chips in science act, which are committee played a big role in, needless to say are committee has been working diligently on a lot of transformational policy but while we are waiting for our colleague here i think i will thank senator wicker again for his work on chips in science act. People may not remember but this committee, dont know how many were processed. It was in the hundreds. Might have been in the 300s but i definitely believe a regular order process is good for the institution, good for the debate abou
Tech bouncing back microsoft and alphabet up sharply. Plus the Biden Administration is awarding micron 6 million in federal grants to boost production of chips in the state of new york and idaho. Were going to discuss all that with microns ceo. Hes live at post nine and the oil giants, exxon and chevron, both posting lower First Quarter profits. Mike wirth will join us this hour well go over those results. Lets begin with the markets and this mornings inflation data, highly anticipated, jim, not just core pce but best couple of months on spending in about a year look, this is a front frontsybacksy day versus what we got im going to mention somebody. You tell me if you agree pangloss pangloss. Panglossian number. Were taking the s. A. T. This morning . Thats where youre starting the show today on this friday in late april you want to explain that to everybody else the bonds are right i have to tell you, carl, last night im sending a note to ruth in the middle of the night, fantastic. Al