hello, and thank you so much for being here. it is 10:00 eastern. i m ana cabrera reporting from new york, and this morning underwater sounds detected in the desperate search for the missing titan submersible. with more assets rushing to the search zone with time running out, the five on board believed to only have one day of oxygen left. the latest on that urgent race against the clock. plus, powell in the hot seat, the fed chair appearing before a house committee this hour. what s his next move with fears of a recession still looming? and later, new reaction from the attorney general to that plea deal for the president s son hunter biden. i would leave this matter in the hands of the united states attorney who want appointed by the previous president. this hour how that deal could impact the 2024 landscape with the gop front runner under indictment himself. let s begin with the underwater noises in that urgent search for the missing titan submersible and the five pe
we start here in the uk with a very rare piece of good news about the cost of living because for people in england, scotland and wales, average energy bills are set to fall by hundreds of pounds this summer. the uk energy regulator ofgem is about to release its latest price cap the maximum amount suppliers can charge the average household. because the cost of energy has fallen sharply on global markets, that cap is expected to come down from july, saving the typical household annually around £450. hannah miller has been talking to energy users in the east of england who have been struggling to pay their energy bills. since we last came to suffolk, 18 month old robyn has taken her first steps. and her mum, claire, has been trying to keep the family bills under control. we first met in august, when claire was already cutting back on her electricity use. i am terrified that, when the winter comes, we re not going to have enough for the bills. since then, energy prices hav
live from london, this is bbc news. avoiding another banking crisis: us regulators race against the clock to find a buyerfor troubled first republic bank, whose shares plunged last week. more protests in france as unions call for further strike action against the government s pension reforms. and solving london s housing crisis: we ll tell you how one community is building its own solution by selling affordable housing to the locals. hello. i m mark lobel, here with your top business stories. let s start in the united states, where us regulators are racing to find a buyer for the troubled first republic bank. the federal deposit insurance corporation has reportedly asked six banks to bid for the lender, and wants a deal in place within the next 2a hours. shares in first republic plunged last week after it admitted customers had withdrawn $100 billion in deposits in march. at that time, its competitor silicon valley bank had collapsed, prompting fears of a wider banking crisis
it s 10:00 eastern. i m ana cabrera reporting from new york. breaking news this morning. first republic bank seized and sold to jpmorgan in an overnight deal. this is now the second largest bank failure in u.s. history, the third major bank to go under in less than two months. how are the markets reacting this morning? and what does it all mean for your money? is it safe? the manhunt for a suspected mass murderer continues in texas. a authorities say they have zero leads. five people are dead, including a 9-year-old boy. a community shaken to the core. we will bring you a live update on where the search goes next. we re asking ever everyone for your help so you can bring this suspect or this monster, i will call him, to justice. a weekend of absolutely wild weather. from a tornado touching down in virginia beach to the historic rise of the mississippi river, expected to crest today in communities already under water. more breaking news. this is out of france where u
germany say police spoke to the suspect in thursday s hamburg shooting a month before the attack. one of the strongest storms ever recorded in the southern hemisphere hits mauritius and madagascar twice and is now heading for mozambique for the second time. it may have broken the record as the longest lasting cyclone in history on record, it s been a named tropical cyclone now also 33 days. we start in the us, and regulators have shut down silicon valley bank, a major lender to tech companies after it ran into financial trouble. concerns triggered a sell off on global financial markets. it is the largest banking failure in the us since 2008. james clayton has been explaining how it happened. this will go down in silicon valley history, certainly one of the most stressful days for silicon valley founders in modern times. we have spoken to people today who have been able to withdraw their money from silicon valley bank, and some who haven t. one person i spoke to said they put