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tv   Mornings With Maria Bartiromo  FOX Business  February 13, 2025 6:00am-7:00am EST

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maria: good thursday morning thank you for joining us i am maria bartiromo thursday february 15 your top stories examine the east coast the potential for peace in the middle east president trump says he and bottom input and agreed talks on ending the russia ukraine conflict. >> people did not know what president putin's thoughts were but i can say with great confidence he wants to see it and all that is good number to work toward getting it ended and as fast as possible. >> this coming as a doge agency cancels ngo contracting for the government waste despite democrats pushing back. >> we are uncovering what could be the biggest money laundering scandal and american history.
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>> this is attorney general pam bondi cracks down on century states bringing charges against kathy hochul and state ag letitia james for prioritizing illegal migrants over american citizens. were getting into all of this is morning right here, futures look like this at a president trump receptacle tariffs expected to be announced today on europe markets are mixed going into the potential announcement markets digesting outer than expected january cpi number yesterday and all the head of wholesale prices today with the january producer price index out at 8:30 a.m. this morning stay with us on the story interest rates trading this way as jay powell and the today testimony on capitol hill said the central bank is in no hurry to change course and cut rates despite trump's call for rates to come down. european markets affect this take a look at the eurozone and mixed market this morning and in asia mix performance as you see here, best performance overnight
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as you can see cosby and japan the nikkei average in the korea and accept better than 1% fox business has learned jamie dimon and brian moynihan will be among the big bank ceos on capitol hill for roundtable on preventing the banking over politics. we are on it, joining the conversation strategic while partner mark tepper, pollster and president of lonski and partners leak carter and staff writer caroline downey. "mornings with maria" is live right now. ♪ ♪ ♪. maria: we kick it off with a hot topic of hour president trump putting focus on negotiating peace between russia and ukraine vowing to end the war as part of his campaign. brooke singh met with the
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latest. >> that's right president trump says russian president putin in ukrainian president zelenskyy want peace after holding separate phone calls with each of them. trump writing this we want to stop the millions of just taken place in the war with russia and ukraine we agreed to work together very closely including visiting each other's nations and follows a prisoner swap between moscow and washington that trump's that could mean better relationships between the countries trump posting about his phone call with zelenskyy he liked president putin wants to make peace, god bless the people of russia and ukraine trump giving more details on the calls from the oval office yesterday. listen to this. >> president putin says he wants it to end he doesn't want to end and go back to fighting six months later we talked about the possibility of a cease-fire so we can stop the killing and will probably end up getting a cease-fire in the not-too-distant future.
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>> trump expects to meet with putin in the future potentially in saudi arabia and the topic of ukraine gating membership, trump said this. >> i don't think it's practical to have a personally i think long before president putin said there's no way they would allow that this is been going on for many years they have been saying that for a long time that ukraine cannot go into nato. i'm okay with that. >> trumps national security team will detox tomorrow at the munich security conference including jd vance, secretary of state marco rubio and pete had set and retired general keith kellogg you have on the program later this morning. stay tuned for that. >> were looking to see what the general has to say about all of this. brooke singh men peace in the middle east president trump back to where he started four years ago with abraham accord. >> it's unbelievable what we see happening right now.
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the thing i cannot understand, how any american, i don't care whose side you're on let's looking at this and criticizing what's happening. there's so much to celebrate so much good happening in this moment. we need to start embracing it look at what's happening in the middle east and russia and the return of hostages and have these conversations. these are good things if you're not looking insane and getting a president trump credit for this at least acknowledge this is a good thing i cannot understand it. maria: it is hard to ignore and be against any of this but the democrats are fighting in the street the house held the first doge committee yesterday called the war on waste to investigate proper payments and fraudulent use of taxpayer dollars but the democrats turned it into a circus attacking elon musk. watch this. >> he was using his propaganda machine to do it when he said that we sent millions of dollars
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to gaza for claude dubbs that was a lie we don't work for an unelected billionaire like apparently this guy does. in the last congress chairwoman green showed an oversight congressional hearing i thought i would bring one as well this we know is president elon musk he's like a power grab also abided by and encouraged by donald trump. >> they want to look your kids lunch money it's about helping elon musk and donald trump as efficient as possible in robbing our government. maria: president trump reminded americans why doge is making the cuts in the first place while defending elon musk and his work that his team is doing yest yesterday. >> you look at the waste, fraud and abuse of this country is going through and you look at the usaid in the things they're giving to the billions of
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dollars that the giving to them and it doesn't make sense. i want to commend elon musk. he does not need this use abuse by you people every day. he's found more things than anybody could find. he is a credibility to do it i know he does. >> after seeing all of the waste out of usaid and to see the democrats turn the hearing into a circus to embarrassing and the name call elon musk for the picture, what are we five years old. >> that the same evil unelected billionaire oligarch the house to save tuna astronauts in space. they certainly want his help their good he identified the low hanging fruit the sex change low hanging fruit, that might be small compared to the bigger
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dollars but it's a more complex situation to identify the number one and number two areas that we spend our money, social security and medicare. if you want to preserve those and if you want to maintain solvency you have to identify the fraud in for the social security administration to claim 6 million people older than 112 when we know there's only 90000 people in the country older than 100 the math does not work that's fraudulent payments you need to stop that speed when the checks go out automatically. >> the criticism it's not enough. if you're talking about any financial planner you have to start with the small stuff if you don't get it under control you won't be able to save the big stuff nikita anybody success is paying attention to every detail. in business you have to pay attention to every detail if you're publicly traded company have to account for every dollar that spent.
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>> when you're trying to cut expenses the first thing is to stop digging the hole and understand where the money is going if you don't know where it's going how are you going to cut costs. all of this is really making me wonder what the heck was biden administration doing for four years, president trump has done so much in three and half weeks and what were they doing in four years. >> elon musk is implementing the memo of moving fast and break things when democrats can keep up with how much he sticking a racquetball to waste in their hammering and pearl clutching as if the american people have an objection to cutting reckless expenditures. the doge subcommittee hearing, the ceo of lexus nexus told us they found $1 trillion of our taxpayer money lost to overseas criminals that's before you get to the superficial do-gooder r re-in the fema scandals which we
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cannot afford any of the debt over $36 trillion. the democrats need to check themselves before they wrecked themselves and realizes is wildly popular with american people. >> especially with the taxpayer money going toward illegals in new york in the sanctuary cities instead of american citizens where we have people on the floor outside homeless, we have a lot to talk about were just getting started. markets this morning are mixed as we await the genuine producer price expected to be up three tenths of 8% three and a 2% year-over-year she's market strategist phil orlando is here with expectations in the lookahead, you're watching "mornings with maria" we'll be right back. ♪ i'm thinking of updating my kitchen... —yeah? —yes! ...this year, we are finally updating our kitchen... ...doing subway tile in an ivory, or eggshell... —cream?... —maybe bone?... don't get me started on quartz. a big big island...
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we've always been competitive. ♪ yeah...one of us always had to be first. - first! - first! [kids bickering] [kids bickering] hold on, guys! ♪ first! today, we're first together. we love you, mom and dad. thank you so much for making it possible. and now you can finally put yourselves first. vanguard. fifty years of helping you invest for all of life's firsts. ♪ >> let's check markets, dow industrial 34 the nasdaq up 40 points of the open and the s&p appointed a quarter all of this
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ahead of the reciprocal tariffs expected to be announced on europe later today we will watch the all day but year-to-date markets are doing well dow industrial foreigner quarter% 2025 s&p up 2.9% in the nasdaq up 2% so far this year federated hermes market strategist phil orlando. so good to see you thank you for being here how did one allocate capital in this environment and are you worried we will hear announcement later stopping tariffs on europe. >> good morning thank you for having me back from an asset allocation standpoint we are still constructive longer-term in the equity market you would think were looking at a 7000 s&p by the end of this year but the reality is we think the mag seven has gotten ahead of itself and since the middle of last year we've been playing catch-up
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train overweighting the large-cap value small caps and international within emerging market and taking a neutral approach to the mag seven names which we think will trend sideways with regard to the tariff situation we have a saying with you on the tariffs we don't think the tariff will be extended all countries and companies across the globe would negative implication on inflation we think is a tactical weapon in order to achieve economic and noneconomic goals over the last couple weeks we've seen the president talking about re-control the panama canal the flow of fentanyl there are a number of goals and when push
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comes from shop we don't think i have massive impact on inflation of the course of the next couple of years. maria: that's the way with the onset, jumping and feels like the president talks about tariffs the market gets undone will that happen later today do you want to buy the market or the cello. >> i would buy the pullbacks without a doubt we are bullish on the market and i think you see a return of volatility, i would love to get your take on that but in earnings growth standpoint i read through your notes you're pretty bullish on earnings over the course of the next few years which is fantastic but when you look at what this tree is expecting it's right around 13% earnings growth and for the math to work out to get to 32% with to see record operating margins to accomplish that does that concern you at all? >> nodded all were about 70% of the way through the fourth corner earnings season and
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numbers on the revenue side and earning side coming in better-than-expected, prophet margin is expanding the way they were looking over the course of the next 15 months we expect trouble in bullet and policies entered the deregulation, energy, increase production and all of that with corporate earnings with calendar 27 at $350. as we discount that back that takes us is 7500 forecast on the s&p's year 7000 this year and that translated 26200 target at the end of last year. we got up to 6100 so i think we got the math figured out in terms of the trajectory but we have to see them full mentation of trump's policies and they work as expected.
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>> we just heard from jay powell let's check the yields, the future market pricing and 57% chance for one rate cut by september after yesterday hotter than expected cpi, jay preble appeared before the services committee and before the senate banking sector committee getting into back-and-forth with ohio congressman warren davidson on the state of inflation. >> the market does not believe in increase risk with fiscal spending and the market and they're not depending. >> more risk but it's not. >> when you see asset price and ray inflation doesn't that result in consumer price inflation. >> it's not a question about using the rate increases at the long and are caused by expectation of higher inflation. >> the influence of the inflation if they do influence the inflation why do you steer
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inflation by controlling the rates, the reality will pressure from the president to lower rates, will you be able to get lower inflation with lower interest rates? >> i think our policy is in a good place. maria: what did you make of that in did you find anything striking about jay powell. the yields took off in the ten years of ten basis point of 4.6%. >> yesterday cpi number was ugly there's no other way to say that and everyone freaking out about the one number if we can't take a deeper breath there's a bigger story will we had the massive 40 year high spike in inflation in the middle of calendar 22 the federal reserve took it up to 5.5% we've seen improvement in inflation on the back half of 22 and all of 23 but over the course of the last year the
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progress that we saw with inflation has stalled out and the producer price index wholesale the number that we will get a 8:30 a.m. the rate of change on wholesale has doubled over the course of the last year. 1.8% in december of 23 and refinished last year at 3.5%. the core pce in the core cpi numbers have stolen well above the fed's target. when powell comes before congress to do humphrey hawkins and the fed is being patient and there's no need to immediately reduce interest rates. he's absolutely right but is looking at the bigger picture. at this point the market is thinking one cut this year in the fourth quarter but we have to give them time of the seasonality issues we saw on january will smooth out over the course of 2025.
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maria: will watch out with anti-inflationary like deregulation we will watch all of that, good to see you. thank you. >> thank you for having me back on. >> happy valentine's day. >> and to you happy valentine's day democrats disrupting the subcommittee looking for a viral moment to derail the cost-cutting efforts will talk with texas congressman brandon gill he was in the hearings and will tell us more when we come back. you're watching "mornings with maria" thanks.
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>> we are uncovering which could be the biggest money laundering scandal in american history. the other side of the aisle could care less they have no concern where the money went to what entities and what government and people or groups, nothing all they want to talk about is elon musk incessantly. >> i just took a rudimentary count of the democrats testimony in a have 27 mentions of elon musk and three mentions of wa waste. >> we as a country are $36 trillion in debt. that is a stunning amount of
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money this is not a democrat problem this is not a republican problem this is an american problem. maria: house republicans focusing on the war on waste as the first subcommittee hearing yesterday was underway. democrats going on offense by taking aim at elon musk. >> trump musk administration want to look into your kids lunch money they want to take that give it up and billionaire tax cuts it's about helping elon musk and donald trump be as efficient as possible and rubber government. chairwoman green showed inner oversight congressional hearing so i thought i would bring one as well. this of course we know is president elon musk he's the world's richest man. >> robert garcia embarrassed himself, the chairwoman marjorie taylor greene says she's planning on hearings to examine
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usaid and npr and pbs, texas congressman brandon gill the house subcommittee, good to see you tell us what struck you most what did you learn. >> thank you for having me on there's a big difference between democrats and republicans they came with receipts. this was $2.7 trillion in improper payments from the federal government like agencies like medicare and medicaid, $2.7 trillion this could be the biggest money laundering scheme in american history and you would think figuring out where this money is going would be a bipartisan effort, what we saw yesterday democrats were more interested about elon musk than they were about anything related to fiscal responsibility or
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accountability we will continue our efforts regardless of what democrats do we have a lot of work to do and this is extremely popular with the american people. maria: did you get answers accountability like nancy pelosi, senator chuck schumer they have been in charge for so many years how is it possible they're not saying appeal what do they have to say about the wasteful spending. >> that's precisely the question a lot of the money that we've invited out for this past several weeks is going toward left-wing activism so much of the left institutional and political ecosystem is funded by taxpayers look npr and pbs $500 million a year to promote left-wing propaganda and values that americans across the country find repugnant we had millions of the taxpayer dollars going to left-wing ngo funding
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the invasion of our southern border and we seem dollars going to transgender activism all over the globe, der projects in asia these are things that the left supports because it upholds their political movement in the has something to do with the fact that they don't seem to be very interested in uncovering all the details. maria: is all about holding onto their grip on power. all of these we have the list and front of me it's incredible they are supporting all of their slush fund ideas so they can keep their grip on power more than ever now that we know the american people have exposed all of this in the doge has exposed all of this. it's remarkable we are watching all the money wasted and we would like to know when said and done what kind of numbers were talking about let me get your take on what the d.o.j. just did
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they just filed a lawsuit against kathy hochul and letitia james for failing to comply with federal immigration lie here is pam bondi yesterday. >> new york has chosen to direct ties illegal aliens over american citizens. you're given a green light to any illegal alien in new york where law enforcement officers cannot check their identity if they pull them over. if you are a state not complying with federal law you are next, get ready. >> the department of homeland security climbed back to $59 million in fema money sent to new york city to house illegal migrants. kristi noem wrote this on x fema was finding the hotel that serves as a trend ar while going to house laken riley's killer, mark my words they will not be a single penny spent that goes against the interests and safety of the american people. what can you tell us about this.
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>> this is another example promises made and promises kept from the white house. what president trump and his administration is saying simply sanctuary cities and states can no longer as a matter of policy endanger the lives of american citizens by harboring illegal aliens many who are criminals president trump is serious about border security that was something he focused on a 2015 in the past election cycle this is a core part of the maga movement and something house republicans are serious about as well we are taking our country back and no longer allowing american citizens to be murdered, live raped and pillaged by illegal aliens that democrats are bringing into our country. it is refreshing to see a president, then and follow through with promises that he made on the campaign trail as rapidly as president trump as.
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border security is every american wants and we will follow through. >> let me get your take on the reconciliation plan you're on the house budget committee with one sweeping bill ahead of america today, the draft is calling for minimum of one and half spending cuts over a decade and a maximum of 4.5 trillion in tax cuts it would also increase the federal debt by $4 trillion while including 300 billion a border in defense spending. in the senate the budget committee advanced a two track reconciliation plan yesterday. tell us where this is going and is it realistic with the offset that you've come up with where are the offsets to come up with offsets with all the spending you're hoping for. >> first of all i think it's realistic we have a budget markup and use that as their project in their working on as
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well i was in the speaker's office going to the details that we will be working on today they are written entirely realistic this comes back from subsidies for instance in work requirements for welfare things that americans across the political spectrum support. i think we will be able to get the stock house republicans and senate republicans are united. maria: we will be watching your work, thank you for being here stay with us, we'll be right back.
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maria: welcome back. pete hegseth sending a clear message to europe at the nato conference in belgium saying the china threat is keeping the u.s.
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from guaranteeing the continent security. >> we must and focusing on security of our own borders we also face a. competitor in the communist chinese. with the capability and intent to threaten our homeland in core national interest in the indo pacific. the u.s. is prioritizing deterring war with china in the pacific recognizing the reality of scarcity in making the resource trade-off to ensure deterrence does not fail. maria: gate stone institute senior fellow in the author of planned red china's project to destroy america. gordon chang back with me thank you for being here. pete had staff plaited out in terms of the threat that is the communist party of china on america and has to dictate our positioning everywhere else. your reaction. >> the important thing is not what we think we are doing but
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what china thinks we are doing i'm concerned what xi jinping her there would have a clear case of aggression in europe. if the americans will stand up to putin, they will not stand up to me. we know this because of the chinese propaganda after the failure of afghanistan where they clearly linked it to an american failure to defend taiwan. i'm not saying what the chinese are right i'm saying that's what they're thinking. xi jinping will be emboldened to be more aggressive in east asia. maria: it is amazing that the congress overall is not on the same page. for so many years the democrats were screaming russia, russia trying to appliqué president trump and the ridiculous russia collusion story all of those they miss the aggression of communist china. all of those years allowing communist china to rollover the
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united states we are now two years after the spy balloon surveilled the united states now we have a better idea of what the spy balloon was carrying inside and said either back to communist china and real-time a new report found it's loaded with us-made technology from five different american companies including c communication is sophisticated surveillance, the balloon was shot down over the north carolina coast after traversing the country for a week joe biden decides to shoot it down when he gets to the carolinas as the house foreign affairs includes beijing invested 10 million into the caribbean since 2005 including a massive port 87000 miles away from florida this is the chinese ammo acquire land near military bases land at the country's money that they cannot pay back like in the caribbean. ce thecannot pay it back china takes over including ports
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which are incredibly important. my question you said this is given china undue influence in the united states receiving arise of the border as well so the threat is real and we understand it but for years the biden administration plaited down the democrats have been playing it down remember when the spy balloon was traversing across the country and they said it didn't send anything back. that was a lie we know it did send it back but they misled the american people even about that. >> that's a great question and i don't know the mentality of the biden administration but certainly general mark milley before he left his post of chairman of the joint chief gave a public interview and said he did not think china sent anything back from the spy balloon where we know in fact it did because subsequent reporting said that was clearly the case
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in this balloon at communication modules this was a failure of the biden administration to under three understand the threat posed because biden thought he could accommodate lee the chinese party. they made it very clear the peoples were honest defined as total war we had chinese migrants in our country who are surveilling our military bases it runs through the list the signs of attacker obvious in the biden administration fail to understand what was going on trump is taking a different view and that's very good. maria: even as president trump is securing the border, yugoslav chinese nationals coming into the country. you can't leave china you need approval for that. >> if we go back to use the chinese migrants coming across the southern border that were
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family grips they were desperate to live in a free society now border patrol reports at least two thirds of the chinese migrants across the southern border are single males military age traveling without family members for - 15 and in the pack some of them have all identical kit which indicates planning for an attack this coincides with the uptick in tempo of chinese incursions into the military facilities on the ground and in the air this is looking at the vulnerability c&r patterns planning for an assault on our bases. maria: to see that the same kids that's incredible. you have a new op-ed about china's 15% tariff on american natural gas you say it could undermine the ability to sell the energy exports to the rest of the world. >> yes, that's what people say
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the united states won't make long-term commitments to build at lng export facilities because they don't have chinese contracts. i don't think that is right china took only 6% of the experts at lng last year. the world needs american lng is the cleanest molecule in the world and were going into a world where it's going to be energy starved. president meghan lowood until lowered to starve the soviet union and i think trump is trying to do the same thing with his plans for drilling. when americans drove for profit there also drilling for peace, stability and freedom around the world. yes we express much lng it gives the u.s. leverage to maintain stability.
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maria: we've been covering this on this program for years. season two of the fox nation special underwriting the enemy is streaming of vaccination. we dive into beijing's actions in the united states. >> this is not just an ordinary issue in u.s. china relations. >> the season the red lights are blinking, the chinese party is the mafia. >> the merger of the biggest u.s. banks and the chinese government. >> this has to be illegal. >> were talking about a world war. >> lie after lie after lie. >> is happening in cornfields in iowa. >> we have to stop funding our own demise. maria: you were featured in season one what is your reaction as we continue to look at how america's underwriting the enemy the number one adversary, china. >> the comments from roger robinson are absolutely critical the united states should not fund china's war machine and assault on us. redoing that because were allowing americans to invest in
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china. also the trade and the technical cooperation. history will look back and say why do we do this after the dangers became evident. i think it's really critical to helping americans understand what they now must do they may not want to do it better for you to maintain our society and peace and stability we absolutely have to. maria: great to have you, underlining the enemy is streaming on fox nation. we'll be right back. with the chase mobile app, things move a little more smoothly. ♪ deposit checks easily and send money quickly. [coins clinking] ♪ that's convenience from chase. make more of what's yours.
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maria: a new intelligence report shows israel could take action against iran. cheryl casone you with the details. >> u.s. intelligence agencies believe israel is planning to strike iran's nuclear facility sometime this year taken advantage of a weakened enemy. the analysis biden israel would push the trump administration to back the strikes especially since the window stopping the pursuit of a nuclear weapon can soon be a reality. benjamin netanyahu did not respond to the report which was first published in the washington post. two major companies announcing layoffs, chevron trimming headcount by 15 or 20% in a bid
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to support either organizational structure and position the company long-term most of those can occur this year company employs 47000 workers. the banking giant j.p. morgan chase started around of layoffs that will impact a small number of employees. parents reporting that some of their positions are being eliminated less than 1000 workers will be affected there let's take a look at shares of companies on both markets j.p. morgan is slightly higher. elon musk access agreed to pay $10 million to settle a 2021 lawsuit brought by president trump over the removal from the platform in the wake of the january 6 right of the capital two days after traduce and spend it his personal account. elon musk did not take control until 2022 and then he renamed to ask. last night met a similar for $25 million mostly going to the presidential library the trump
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administration is targeting the state of new york alleging it is shielding illegal immigrants by defying federal law. the u.s. attorney general pam bondi citing the greenlight law that allow illegal immigrants to obtain driver's license but prevent federal agencies from accessing information. pam bondi made it clear this is about the safety of u.s. citizens. >> this is a new d.o.j. and we are taking steps to protect americans, american citizens and angel moms like the mom standing behind me who you will hear from in a moment. new york was chosen to prioritize illegal aliens over american citizens. his stops and stops today. we sued illinois and new york did not listen so now you are next. >> kathy hochul responded this
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we expect pam bondi's worthless lawsuit to be a failure just like the others let me be clear new york is not backing down. tom homan is going to be meeting with the mayor erekat adams to talk about immigration. maria: that was kathy hochul. maria: backing down from supporting illegal migrants over american citizens, what you backing down from. >> on top of everything letitia james has spent the last several years to prove mar-a-lago is worth $18 million when she could've enforced real laws that exist. i think pam bondi is remarkable i'm so impressed. >> new york what the most dreaded add ever been in 35 years this past election. i don't know if it'll fly this time around but i think it'll be a federalism topsail because state are sovereign but they plan to repower dimmer great litigation. in 2020 when the supreme court
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struck down a challenge to san francisco sanc century policiesi don't know if this will escalate or succeed but i hope it does. maria: how many stories have we heard in the last four years of people getting attacked, murdered by illegals or even kids in classrooms with ten or 15 next thing 30 or 40 kids and half of them don't speak english mother's upset how do they not see the. >> i to understand how they do not see it. the only thing they're willing to see is the cases of the exceptions even though the right thing to do is to take care of people. they position this how can they be heartless with all these people suffering and help people go ahead and donate your money. the issue it's unfair were putting other citizens out of our own we have people suffering right here food insecurity in
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america and people who lost their homes and natural disasters look at north carolina and california the issue let's put american people first and let these countries help themselves we don't have to be the world's police we are not an ngo to help the rest of the world. >> this is what kathy hochul wants to fall on. maria: thank you, let's get to the weather a powerful and deadly winter storm slamming parts of the plaintive midwest this week one person has died as a result chicago detroit in the great lakes blanket with snow and ice as it moves it's way east california wildfire victims facing life-threatening floods and landslides as the storms threatened to bring torrential rain. marissa torres with an update on all of that. >> is a tough situation what are the reasons we had severe wildfires because we had a high lack of rain were getting the rain and it started last night
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it should pick up as a cold front pushes it from the pacific the concern we have generally 1 - 3 inches of rain in southern california and it's a rate of rain that can be quite severe we can have rainfall rates that exceed 1 inch per hour which might not seemed like a lot but when you have a round that was scorched by a wildfire it cannot absorb any of that buyer homes understanding of folks went back in, the hearst fire and sunset have mandatory evacuation orders in place to protect people from debris flow we will have wind and the potential for power outages is there the higher in the elevations. >> a big hour coming up. we'll be right back. [young jayson] crosses. and sofi gives members confidence
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