That could include a 2. 5 billion settlement, a substantial amount of money for Credit Suisse, as well as a guilty plea from the Parent Company. This would be a sea change in the way the Justice Department has dealt with big banks. One of the conversations we have don having is what will this to the bank, and how will that affect the bank, hurt future business, impact revenue . This is unchartered territory, right, if they were to agree to criminal charges . It is. If they go for the parent whatny, it is a turn from the Justice Department has done where they could charge the subsidiary, which typically shields the Broader Company from collateral damage. What is next once they saw this . We have a lot of people to go. We will see what happens to a bank if a Parent Company plead guilty and is find, and if the Justice Department will go after other banks and similar cases. Much, keriu so geiger. Fcc chairman tom wheelers proposal to regulate internet traffic has cleared its first pozo, an
I am matt miller. I am scarlet fu. Business stories from around the world kicking off with federal and state prosecutors considering charges against Bnp Harry Bob according to a person familiar with the matter. Overt suisse investigated whether it helped american evade taxes. Bnp paribas. Energizer holdings is splitting up into two publicly traded companies. One the unit will include household products. The other will be energizers personalcare business among products will be sure craters razors and hawaiian tropic sunscreen. The biggest utility deal in north america best year. Agreeing to buy Pepsico Holdings for 14 billion 6. 8 billion in cash. The utilityrates that serves the washington, d. C. , area. I want to emphasize the word nuclear is not nuclear. Definitely not nuclear. Going to accompany story we have been following. Twitter, a puzzle for you. Posted firstquarter results that Beat Estimates on the top and bottom line. Investors shrugging it off. Focusing on slowing user grow
A few moments. The view that some writers have that some hedge funds are maybe too big to fail will be part of the conversation. We will give you the criteria, and also both sides of the argument on whether Systemic Risk exist or not. Plus, the ceo from cybersecurity powerhouse fire i will be with me. Made a 1y recently billion purchase and we will tell you about the latest technology to thwart hackers. First up, president obama naming five u. S. Promised zones targeted for special federal aid. The motivation is despite income inequality. Julianna goldman joins me now. What is at the center of the president s plan . This is all part of the focus on income inequality that the focus the white house has the tapping leading up to state of these union on state of the union on february 28. The areas are san antonio, philadelphia, los angeles, southeast kentucky, and the choctaw nation of oklahoma. Theseesident announced socalled promised zones in his state of the union last year. Today, he i
But stocks are down. Worse day for equities in the bull market started back in 2009. The nasdaq in particular selling off quite heavily, down about 3. 5 . Blackrocks chief investment strategist is with us. What are investors thinking . There are a couple of things going on. Veryof these sectors got aggressive valuations. You look at biotech for example. Nearly eight times book value as recently as the end of march, so clearly, you know, stretch valuations have played a part. I think what is exacerbating this anchor to reading and contributed to the seat is were seeing a lot of liquidation by hedge funds. They have done really well with a, but at that moment them has broken down, we are seeing some aggressive liquidation by many of those players. What are those players doing now and what are they buying into . Been a lotthere have of movement into cash, but you are also seeing something below the surface. Take a look at technology. We have all spun this as Technology Selling off. If you
Bloomberg television. We are happy to be back. Lets talk tech. Another big tech deal to talk about, priceline is buying opentable 42 . 6 billion. For 2. 6 billion. This is crazy. Around isy head this the new normal, is this where we are supposed to be . Or is this the return of 1999 . In 1999, i loved opentable and urban fetch. But where those now . It a lot more worthable that uber is 17 billion. Er is a life changer. We will have to agree to disagree. Opentable is a life changer for me. He just eats at mcdonalds, they dont take reservations. Every time i try to use opentable, i can never get a table. Instead, i call, and restaurants say the same thing. 5 30, 10 30, i would rather they off. Say screw said, weo of priceline think it is a good fit. They called it an adjacent business. We have similar Business Models. You are catering to the same sort of customers. There is definitely true to that. These are the same people spending their money in different channels. One thing i was intr