committee, and that money is actually paid by fifa money. so it is the other $11 billion that goes into the infrastructure and half of that is being paid by the federal government of russia. now, in russia it s a little bit different because you say, the other half comes from sponsors and other private citizens, from what i learned in sochi, many of those private companies that sponsor were actually government-backed there you get a little bit, unlike the united states, germany and others where you have true commercial entities, i find many of these private companies have some government support in the back. also what happens is, i again learned, correct me if i m wrong here, is that many of those hotels were built in sochi and maybe this will happen for world cup, many of the hotels are built based on loans guaranteed by the federal government. so if they default on those loans, because those hotels aren t being filled up and they re not making revenue, who is really paying
good afternoon. stocks steady despite jobs and gdp data financials and tech the best performers and telecom and energy the biggest laggards. bob evans farms soaring, beating sales estimates and raising outlook and chico s taking a hit. comp store sales also missing the mark. let s get you caught up on latest headlines on har vixt the government-run u.s. flood insurance program now says it has already received 35,000 claims, as of noon today and as of midnight, dumped 21 trillion gallons of rain, and it s enough to fill half of lake tahoe. and the storm is hitting louisiana now. the state bracing for tornadoes and flooding we ve got you covered. let s go to team coverage on the ground in texas. brian sullivan live in pasadena with the latest on the refineries contessa brewer still in houston where businesses are continuing to get back to business. let s start with you. all right, sara, thank you very much. we want to look at these refineries and show them to you. right a
at work and school when told s powerful earthquake hit. good evening, everyone. tonight at least 149 people are confirmed dead, including 22 bodies in a collapsed school building. millions are without power tonight. the usgs said the magnitude 7.1 quake was centered about 75 miles southeast of mexico city. we have the developing news now from debra. some of the pictures and video is just incredible. yeah, really frightening. just 12 days ago, an 8.1 quake hit off the coast of southern mexico. it had 30 types the energy as today s quake, but this one was closer to mexico city, the effect is muchs,. people were working in this building when it collapsed about 1:00 in the afternoon. some got out, many injured. at sites like this across mexico city, frantic efforts began to unearth those burred area live. emergency workers and ordinary citizens rushed to dozens of downed buildings, moving rubble, hand to hand. heavy equipment and saws were desperately needed. for every surv
test. test. test. test. test. world you live in and for those who don t live in this world of this, you can watch if you want, but the first offset was essentially the reliance on nuclear weapons in the early cold war when the soviet union created such an imposing threat so we relied more on nuclear weapons. the second is when nato went high-tech with land battle and precision long range strike capabilities and the force and use conventional high-tech technology and nuclear weapons. and whether or not that would have fully worked, certainly the weapons and technologies did well in desert storm and built on that sense and a little more is a diffusive concept but a suite, a range of high-tech capabilities that we re now developing from cyber to microelectronics to all sorts of other realms, robotics and so forth to compensate for the distance even if we do outmatch them in defense budget and ships and tanks and so forth, although, on some of
geopolitical events, and i wanted to hear a bit more about the impact of politics here in the united states. this is an election year. what effect, what impact that will have on the economy? because there was quite a lot of economics in the presentation. i understood most of it but, i mean, part of it not most of it. i m not an economist. but i wanted to understand the impact of the politics on the economy. so i m now in my fifth year. i m one day, frankly, into my fifth day at the fed. so this will be my third election cycle and i can say that politics plays absolutely no role whatsoever in our deliberations or in our decision. so we you know, the focus inside the fed is very much not partisan politics or elections. it s very much economic fundamentals, so it can be very jarring to emerge from the fed and talk to people who think of politics think of economics in political terms, which i referred to earlier. honestly, it has no effect. you know, we announced a quanti