Lets get straight not to bloomberg first word news. Chris taylor riggs. Present here is taylor riggs. Taylor President Trump announced he will replace janet yellen as the chair of the Federal Reserve. Picture chose to have this for fed governor powell. But this will ease financial regulation. House republicans will unveil their tax bill today, and a call for Corporate Taxes to go down from 35 to 20 , but only for a decade. Estate tax would be faced out, and the Child Tax Credit would be increased to 1600. This can pass without democratic votes, but not not all republicans are on board just yet. Defense secretary Michael Fallon has quit over Sexual Harassment claims. Fallon fell short of the standard expected. He was a veteran defender of conservative part rate policies. Separatist leader of catalonia accuses spain of conducting a witchhunt against their colleagues. Carlos just a month and in selfexile. Had thiseadership for the declaration of independence, and could face 30 years in pr
Year to a spot in San Francisco will cost you more than 3,000. A whole lot of cars and no parking spaces. Reporter others fear the added cost will encourage Small Businesses to move out. When you have five or six employees, that is a lot of money. Reporter if the budget is approved tonight this rate hike will go in effect this weekend ju july 1st. Voting on a new budget this evening considering eliminating more than a Million Dollars from the Fire Departments budget. New troubling accusation about a south bay swim coach who is accused of exchanging Inappropriate Text Messages with his young students. Reporter not notifying police could be considered a crime. And now we understand San Jose Police is looking into that aspect much t aspect of the case. Now the same swim club under a different name faced the same allegation nine years ago. Timothy nguyen is facing allegations. Messages that police say became sexual in nature. But police werent called until may 30th months after parents cla
Center. Cheryl hurd is in belmont with update on the crime and the search. Cheryl. Reporter well, raj police say he is armed and thats why theyre concerned tonight. The captain here tells me they got a call earlier this evening. Take a look at this video. The man was in this parking lot pistol whipped and bloody. He told police he came here to sell marijuana. Instead of money changing hands the suspect took his gun and bet him in the face and took off running with a backpack with an undisclosed amount of marijuana. He ran into a creek behind the shopping center. Police the area on lockdown. Asking everyone to stay inside. Now the suspect jumped into a drain pipe and got away. The victim was treated at the scene, a belmont man in his 20s with nonlife threatening injuries. Police still looking for the man. Any say he is asian or hispanic in his 20s with curl hair. Has a tattoo on his neck and wearing red shorts and a black tee shirt. Dont approach this man just call police. Reporting liv
From the president S Manufacturing council. P g ramping up its fight against nelson peltz and netflix with a big score in the content war signing shonda rimes away from abc a tweet from ken frazier saying he will resign from the president S Manufacturing council was met almost immediately by a response from the president in which he said frazier would now have time to go lower rip off drug prices and immediate reprisal for what i assume the white house sees as a breach of loyalty. Ken frazier is known as one of the more thoughtful executives out there anyone that followed the drug industry knows that he has a lot of false promise he speaks his mind the president. Hes the president of the United States but it does seem a little, ill advised to just immediately attack him for going and gouging and mr. Frazier as also been a man that tried to hold the line on drug pricing. So it does to me, i mean, who am i to say its unfair it just seems like that mr. Frazier deserves better. He speaks h
Squawk alley. Thanks so much, jackie. 10 00 a. M. At sprint headquarters in oberlin park, kansas, 11 00 a. M. On wall street and squawk alley is live. Good morning. Thanks for join us on squawk alley. With me at post 9, mike santoli and kelly evans. Karla and jon have the morning off. We start with the markets on this thursday. The trump rally taking a bit of a step back as we continue to hover more than 100 points below dow 20,000. The blue chip index coming off its second tripledigit loss since the election. Major averages are fractionally in the red, mike. The s p down less than one point, ritch etting stuff here. Yeah. Struggling to tread some water. Weve been doing that for about two weeks. It reminds me of in august and september we had that really strong rally on the post brexit reaction and the market sort of flattened out near its highs. We ended up kind of going down about 3 i think high to low. Wasnt a big, dramatic move but after a while when you lose those thrusters pushin