Governor newsom today. Record job losses. A massive state deficit to the tune of 54 billion. To bridge that gap, the governor posing billions of dollars of cuts for the next fiscal year. Heres the governor proposal, 203 billion, it represents a 5 decrease in spending from this year. Governor newsom is asking the legislature to approve 6 billion in cuts, so where does that money come from . State Union Workers could see a 10 pay cut. Some Health Care Coverage under medical like dental care could go. K12 and Community College budgeting will be dropped and the uc and cal state systems could see a 10 cut. Even with the proposals, the governor says protecting Public Education is a top priority. Rond handa shows us at robert handa shows us at least one School District is not sold on the Governors School protection plan. Reporter the governors message did seem to get optimistic for Public Education but here in this School District the superintendent did not share that optimism. The allen rock
Encouraging news in the development of two experimental vaccines for covid19. Both hitting important milestones. And delivering conflict. As we rely even more on delivery apps like grubhub and doordash, what was once a love affair is now a war with restaurants and the cities they serve. Well go inside the booming business that some call a financial bust. First, we begin this morning with a look at todays eye opener, your world in 90 seconds. We cant stay locked down for such a considerable period of time that you might do irreparable damage and have unintended consequences. Reporter this memorial day weekend will look very different, and officials want it that way. New restrictions at beaches and restaurants are in place with the hopes of preventing the additional spread of the coronavirus. Were not bothering anybody else. Were not going to be around anybody else. Its just us. Reporter President Trump declared places of worship essential places saying he wants them to open immediately.
First week on the aflac chairman and ceo in a few minutes. We want to get the vaccine plan from the president , so lets look at the s p 500. It is now down 2 . 2 . It is on the heels of this News Conference being held at the administrations behest. The dollar index well above 100, and changed right now, and crude oil with a 29 handle in the u. S. Lets get a deeper dive into safe Market Action with taylor riggs. Taylor we want to start on tech stocks because there has been a few different actions that have been moving some of the chipmakers we are looking at. Otherwise noon as data came out overnight saying that there Second Quarter was going to see a 15 drop in revenue, much worse than the First Quarter. That goes against what we thought because we heard Companies Like apple saying they were starting to see demand turnaround. If you are seeing some suppliers like foxconn saying that is not the case, it is putting pressure on Companies Like apple. Intel and qualcomm are lower after the
Truckers, essential to our daily lives, are finding their lives harder and more dangerous than ever before. And streets of silence. As new york continues its unprecedented shutdown, well take a ride high above the city to see the shocking changes before and after the restrictions. First, we begin this morning with a look at todays eye opener, your world in 90 seconds. Weve already built sufficient Testing Capacity nationwide for states to begin their reopenings. Reporter the white house and states are clashing over whether theres enough tests to go around. The emphasis that weve been hearing is essentially testing is everything, and it isnt. Its the kinds of things weve been doing, the mitigation strategies. Reporter President Trump fired off several tweets taking aim at new yorks response to the virus. For him to say to anyone, well, you relied on projections and the projections were wrong, your projections, mr. President. Reporter the u. S. Stock market continues to bounce back after
Restrictions on low risk activities and thousands of restaurants are on the verge of shutting down for good. Yeah, how the new normal will not be enough to keep some businesses afloat. Reporter any given night before the pandemic, restaurants said they had to fill every seat to make a profit. They have four tables outside, four inside and four at the bar. So reopening cutting that number in half to meet social distance rules, reopening is impossible. With the stay at home order through may. There will be a change in rereopening are back on hold. I cant wait to get back to feeding people. Chef lopez is a partner at pearl, a neighborhood restaurant in the richmond district. She had to lay off the staff. Tonight she is making lasagna, free frk hospitality workers in needs. Having half the table, staff Wearing Masks full time and a heavier reliance on take off. And jacking murphy says at 75 capacity, his restaurant would barely break even. Until they tell us what the new mandates are, its