consider it solved. >>> aig earnings are out let's get to seema mody with those numbers. >> sara, aig shares popping 2% in extended trade. a huge beat on its bottom line notable rise in net interest income and an improvement in its combined ratio falling to 97.4 in the first quarter from 103.8 in the same quarter a year ago as i'm eminded the lower the ratio the better aig shares now up about 2% on a big beat on its bottom line. guys, back to you. >> seema, thanks for that one. now, stocks staging a major comeback intraday after the initial plunge following president trump's tweet. the tariffs on $200 billion worth of chinese goods could rise to 25% by friday. mike santoli looked at how previous trade threats have impacted the market and whether investors should be concerned. mike >> there's no absolute consistent pattern but today's action was not really unusual. if you look at these prior instances, when there was a presidential tweet of a threatening nature toward china about trade, and see what the market did april 4th 2018 was an interesting one. the market opened a good deal low

seven percent of all africans are under thirty five that's a lot and on this new show we get to the had aig issues here's what's coming up.

aig out with their earnings. coming in at $1.58 per share.e should point out that the return on equity on an adjusted basis coming in at 11.6%. joe: coming up, warren buffett himself in the hot seat as investors question his choices .n amazon all the details, next. as bloomberg. ♪ -- this is bloomberg. ♪ joe: buffet watchers converging on omaha over the weekend for berkshire hathaway's meeting. warren buffett found himself in an unusual position, answering questions about whether a different approach is needed after bets on amazon and kraft heinz. the author who just got back from omaha. how many years have you been going? >> 25. joe: we got some news at the end of last week about amazon being a holding. i guess it was one of the deputies who bought it. does this represent some sort of drift from the brookshire style of investing, are -- or are we just in a world where you could plausibly say that their mode or brand could plausibly fit in as a classic brookshire investment? >> it is now a 20-year-old company. still doing interesting things a

major selloff taking down everything today, but not aig. its adjusted operating results jumped 44%. bank of america merrill lynch raising price target to $55 from $53. aig now at $50.58 for a gain of 7.4%. >>> up next, another crude day in the oil patch as oil falls on worries that a failure in china trade talks could impact the global economy. we will ask a top texas oil man why china is a bigger worry than the new tensions in the persian gulf when "countdown" comes right back. kevin, meet your fat. kevin kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. [spanish recording] so again, using "para", you're talking about something that is for someone. ♪ pretty good. could listening to audible inspire you to start something new? download audible and listen for a change. lauren: breaking news this hour, oil getting caught in a game of monkey in the middle, as china trade tensions escalate. this as u.s. sanctions on o

orderly liquidation authority to prevent the calamitous collapse of a non- bank financial firm such as aig. although the law has long provided an orderly mechanism for banks, there was no such mechanism in place for long banks including the investment banking subsidiaries of holding companies. such a mechanism was incorporated in dodd frank. still, congress assessed its preferred resolution is bankruptcy and required that the largest firms submit living wills that describe how they could be resolved under bankruptcy. it requires banking firms to take change their organization and structure if such firms are necessary to facilitate resolution. the federal reserve's taking these congressional mandates seriously worked with the largest banking organizations on their resolution plans. working with the industry, the fdic ordered a liquidation of his systemic firm could be accomplished under bankruptcy by using orderly liquidation authority. the orderly liquidation authority is difficult given the complexity of systemic banking firms and their global reach. it requires incredible coordination ac

aig weather event.o outbreak in it's most likelgoing to be it's location we've been talking about week after week. rivers are extremely high and adding another 2 to 4 inches of rain won't be pretty. things are pretty nice in the west. no. lots of clouds in southern california. we'll show you the week ahead forecast coming up. >> bill, thank you veryuc buttio church this sunday. joined by his husband invited to read from the bible carter's sunday school class. the former president reportedly said at the church service he knew buttigieg from habitat day clooney, plus new details surrounding the controversy at the kentucky derby and how the winner was disqualified. ohhhh... enough already! we need to see a doctor. ask your doctor about myrbetriq® (mirabegron). it treats oab symptoms of urgency, frequency, and leakage. it's the first and only oab treatment in its class. myrbetriq may increase blood pressure. tell your doctor right away if you have trouble emptying your bladder or have a weak urine stream. myrbetriq may cause serious allergic reactions like swelling of the face, lips, throa

the college's found clusters of aig's in meadows in ponds this spring years ahead of schedule. the frogs disappear from yosemite do it at least in part to a predatory invasive species of bullfrogs that had been introduced to the valley named for their colorful legs in belize the frogs are featured in mark twain's short story, the celebrated jumping frog of calaveras county. >>next a lot of thosere not do so well in fact a new report says hundreds of thousands of species of animals may soon be extinct. how that could have an irreversible effect on human life spans as well. and if you are streaming a song crime on the news way soon the future of planet earth is bleak. that's according to a new climate change report from the united nations show reporter omar jimenez talks with a stanford university professor to break down the study that is being described. >>asre loss, ever. >>the brink of extinction as a new united nations report details 1 million of the world's 8 million species are now threatened with that fake and humans are to blame the other organisms planet are our life sup

. >> big insurers, state farm, chubb, aig, metlife and others all have exposure to the catastrophe lossesthi spring's severe weather. late-season snowstorms and massive snowmelts, hail, wind, and the flooding. so much water across farm fields and historic towns. flooding even closed locks on the mississpi river and shut them to commercial barge traffic and now the start of hurricane season. the national oceanic andc atmosphe association or noaa, predicts as many as 15 named storms this year, two to four of which could be major hurricanes. a the forecasts are accurate, that would be near-normal season. the insurance information institute says homeowners who live in areas that h have be by hurricanes in the last couple of years are likely to see their insuranceo rates g up, and specialty wind storm insurance rates are rising by 10% to 20% according to industry experts. businesses and homeowners who don't already have insurance may find themselves in a tough spot. the national flood insurance program isch seduled to expire tomorrow. aisaster bill continues to have language to extend it and t

what does this mean for the patriotswner stephanie gosk breaks it down for us >> reporter: this is aig win for robert kraft, a major win. earlier this year, police charged him and two dozen her men with soliciting prostitution, but a florida judge granted kraft's motion to suppress the surveillance footage recorded at thorchids of asia day spa, ruling it could not be used inrt cou the judge says that's because investigators did not do enough to protect the innocent customers at the s who were also recorded, and it's not just what they recorded inside the spa that'sff limits. it's also any evidence collected ouspide the a, including footage at a traff stop used to identify kraft that day there's still no word tonight how and if the nfl will punish kraft based on the league's personal conduct policy. for now, the patriots owner is still scheduled to go to court next week, but we'll seeprf osecutors change their approach or even if they drop the two misdemeanocharges. >> stephanie, thank you. >>> felicity huffman was back in court, and this time entering l guilty p the actress admitting t

. >>> after the b tonight, aig beat analyst estimates as the cefinance and insurompany saw notable rise in net interest inco. this repor also broke a six aig.ter streak of misses by the stock initially rose after hours and was unchanged in the regular session. they closed at $47.11. petroleum increased the catch portion of the offer for anedarco petroleum. she' working closely with anedraco's management and u believesing the offer will remove any uncertainty about closing a deal. oxidental is trying to derail chevron's agreement to buy anedarco. the stock troes $158.77. >> warenn buffett ry made a $10 billion investment in oxidental petroleum. today in that same interswru becky quick, he described his thinking behind that investment. >> you bet on oil prices over the long termore than anything else. it's also a bet on the fact that thet basin is w it cracked up to be and that sort of thing. oil prices will determine -- will determine whether almost any oil stock is a good investment over time. >> buffet'sinvestment is contingent upon oxidental being successful in purchasing anedarco. >>

retired american express ceo, former aig chairman.were talking about that, how something going south on the trade front could unravel all of this. are you worried about that? >> no. not really. the chinese/american trade issue is a complex one and has been building over a long period of time. everybody knows they steal intellectual property, they require forced intellectual transfer, information transfer, and they have high tariffs. we have low tariffs relative to china. the situation for them is terrific. they don't want to change that. neil: we've got to compel them to change. >> exactly. the question is how do you chan change. hopefully they decide they need to give up something on those three things. now, they were looking for a deal in which they would promise to stop stealing intellectual property, stop forced transfers and do some modest stuff on tariffs but not really do anything overall and they thought they could get that kind of deal. donald trump said no, you can't get that kind of deal. what he is doing is changing the co

aig investments. we met with young people training to be software engineers. you could see the excitement on their faces. their vision of a brighter future was so inspiring. then the news landed like a ton of bricks. the trump administration planned to cut off foreign assistance to el salvador, guatemala, and honduras. it was heartbreaking. i thought about the reality those children would face if this misguided decision went forward. the president's goal is to stop illegal immigration. this decision just makes no sense. in el salvador, witnessing programs by the fbi under the auspices of the state department trying to get people, young people, trained so they would not join these gangs, so they would not do things detrimental if they stayed in their country or came to the united states. while we were there, coincidentally, that was the time the president announced funds were going to be cut off. everyone was blindsided. if the goal was to stop illegal immigration, it does not make any sense either. delegation,dor, my with fbi agent leading our task force, the

great numbers brought to us and a great day for aig.on, on the stock of the hour. in today's digital age, privacy is given up without consumers realizing it. massive amounts of data. speakingtzker has been with the ceo to discuss the problem with data and how he is planning to fix it. is aat i am trying to do consortium of companies, microsoft being one of them, but also a few other banks, retailers, phone companies, they will launch soon overseas, the ability for you, the consumer, to report back in control of their data. in the secure element on your form, it will be buried your ability to say yes, i'm above 21. or tell ups, i'm above 21. we would be able to go to those providers, to your drivers license, passport office, the phone company, your bank when you opened the account, any of those and pull back a yes/no answer to prove you are above 21, securely. protected by crypto gram's use that to say yes, eric is above 21. that is that further new info -- that is further information. that to me is what we need for the future. what we d

heard it from the americans i heard it from the europeans i heard it from russians i heard it from aig. why did it take so long for anybody to even voice those concerns promptly oh and this is one of the reasons donald trump was elected in 2016 because there had been 8 years of china simply disregarding its obligations under the obama administration china disregarding or the obama administration not asking hardly enough oh no it's not up to united states to enforce chinese law you know the treaties that brought china into the world trade organization is now part of chinese law and china is supposed to be enforcing it what this is what donald trump said was enough is enough you know we've waited you know 8 years we've waited 16 years well you know how long do you wait and you know trump's answer was you know no longer and so trump has taken the lead the trump of ministration is taking the lead in pushing china to open its store to the world and you know that's a path that china has repeatedly said it wants to take maybe all it needs is a little bit of you know a little bit of a push fro

lower by a lot of the industrial names names like oil and gas and mining sectors now going over to aig they have had a very rough week as the entire market whiplash on the uncertainty of the u.s. china trade war in shanghai they were actually on trying to close down more than 5 percent for the week but beijing at the last minute took effort to stabilize the market the yen strengthened and the next closed 3 point one percent higher on friday to end the week a slightly down a little more than one percent saying over and hong kong * follows mainland and they gained one percent following beijing statement but they still ended the week down more than 2 percent however moving on to japan and nikkei the market was down more than 3 percent on trade war worries the nikkei ended the week lower as cyclical names guys that are really heavily affected by macro economic changes they drag down the entire market the markets in asia were actually closed week in celebration of golden week investors were quite optimistic going into it and they had expected the u.s. china trade talks to be resolved soon b

profit at aig's property and casualty insurance helped the company's overall earnings beat estimates. and a half. tom: greatly appreciated. a terrific report by annmarie hordern as anadarko turns, that was the soap opera we looked at yesterday. foran murray, the most important isrocarbon expert -- export the cfo of chevron. explain why he is the most important oil guy. annmarie: the clock really starts for chevron to make this bid. he has said in the past that anadarko wanted to 75% stock, 25% cash despite the fact that chevron was willing to boost the cash. we could see them boost the cash betweeng -- offering $70 and $72 a share to stay in the game. tom: here is your "surveillance" map, and you can do this through the bloomberg, exxon mobil is 14%,11%, short -- chevron , tote how, 22%, and anadarko at 43%. if they went to being a low debt company, and they can lineup a debt in what, six phone calls? annmarie: they can completely. they have deep pockets. last year, their cash flow was the most on record. this is always an opportunistic deal for them and rbc suggested a deal is needed

british airways owner aig has reiterated its guidance for flat profit growth and has blamed that on higher fuel prices the airline group posted results this morning that were largely in line with expectation. >> the german postal and the -- supported an operating profit that was in line with forecasts at 1.2 billion euros the country has confirmed its 2019 guidance. the cfo told cnbc this morning that the company's portfolio would remain resilient in the newly imposed tariffs against china. >> just the anticipation of those new tariffs coming into place has quite a lot to equity markets and stocks i think for us as a company, the important message is that we have bought the portfolio. some of our portfolio is more exposed to tariff development and we have other parts which are more resilient, and we have a big -- internally, and i think on that basis we are confident that we will find a way for the situati situation. >> tear being investigated over an adding $200 billion money laundering scandal >> coming up, we'll look ahead to the final day of the premier league season here in england as

disney, aig, the insurance company, barrett gold in the headlines these days and softbank among the bigorts out with their outlook. that will weigh. we have had s&p 500 companies reporting, exceeded expectations that were lowered ahead of the earnings, but it has been mixed in terms of projections. buffett had its -- had his shareholders meeting. he praised the retailing behemoth amazon as a company and investment. he is not alone. su: the praise for amazon keeps heaping on. fridaygot a big bump on when it came out ahead of the shareholder meeting that amazon's fund manager had been adding shares of amazon and the billionaire buffett himself said he was an idiot not to buy company.ot the and then the cofounder of home depot and now an author saying in a recent conference but he highly of the company amazon and the ceo, kind of giving if you can't beat them, join them kind of message. >> what you want to do is study amazon and learn what they are doing right and try to improve on that. i give this guy credit. , developedid technology and is doing it. su: don't be a hater, look at what he

aig having a fantastic quarter. that turnaround is going phenomenally well. there are plenty of stocks to get to. i did want to point to the 210 spread -- 2-10 spread. guy: interesting bond market moves in europe as well. stocks are lower, the trade narrative -- thanks are down as well. -- banks are down as well. talk of the chinese vice premier coming to washington negotiate hasn't done much in terms of the story today. a critical meeting is about to kick off in london. we are expecting the labor team and conservative party team to start negotiating some sort of deal on the brexit story. we will wait to see what's ultimately going to happen there. we are waiting to determine the relationship between the two parties. if we don't get a deal done, it is possible we are headed to a general election, a second referendum. if we do get a deal from the u.k., they could be out of the eu within weeks. the pound has been giving back some of its gains. we are treading just above the 1.30 mark right now. right now, out of the european commission, we saw is significant do

only three dozen stocks in the s&p 500 finished higher yet led by aig >> lyft surprising the street ins came in better than expected they rose by 95% in the first quarter and revenue guidance was solid. another big surprise was that lyft recorded a quarterly loss of 1.1 billion that is more than its entire loss from last year. let's get more insight now into lyft's numbers from john, analyst at north coast research, who joins us now on the cnbc newsline. >> when we looked at the numbers, we found that to be an adjusted basis, an ebida basis, a bit better than expected most importantly it's better than expected on the top line. rider engagement levels and participation levels were quite strong the most important thing we heard in the call was that 2019 will mark the peak year in terms of losses in its business. especially with uber arriving at public markets sooner rather than later one of the key battle grounds for them is how do you protect your market share in the u.s how do you prove to the investment community that you're not applying here, but you are truly a strong player, and th

research at aig, profiling primarily from our stress indexes which classifies codes, seven different metrics of economic well-being, if you look on 27, 2007 two 2016, the bottom 1/5 of u.s. codes distressed communities, they have 1.3 million jobs over that almost 10 year period. there has been no recovery from the great recession for the people who needed us. on the flipside of that, prosperous communities, top zip codes where people were already the best off and all sorts of socioeconomic indicators, they have seen a drop of 3.1 million jobs over the same period. essentially, we channel all of our growth energy towards the people in places who are already doing well, and we channel very little of it to the people in places who need it most. opportunity zones is designed to that equilibrium. and, it is a bold policy tries to meet the challenge at the same scale of the challenge. it is meant to help make the market work in favor of these communities rather than against them, and it does that by changing the incentives calculus for investors as they decide where to places capital. i th

aig had a very impressive earnings breaking straight quarters of losses.hery: same story with oil futures getting sucked into the turmoil. brent falling below $70 a barrel. wti also falling near $60 a barrel. what is going on there? su: let's go through the five-day chart and you will see even as oil started to recover yesterday, it got socked again. five-day chart for oil, there you go. it got socked again. down to 7% in west texas intermediate since the april high. we have been talking about year to date oil has been such a story. i don't know if we have the big picture you today chart for oil. we have come down. the trump factor being blamed, not just for the trade wing on oil, but because of the trump policies weighing on global growth. quickly to copper which is also on the decline. many of the metals taking similar moves lower because of the trade war concerns. shery: thank you so much for that with the latest on the markets. we continue to see investors pretty much anxious and nervous over this. the u.s.-china trade talks scheduled for this week wil

by higher premiums, lower costs, and an improved underwriting at its core general insurance business aig trading up about 7% this morning. the rental car company expecting a smaller than expected loss in the first quarter as u.s. re new rose about 7%. the company attributes some of the sales increases to its expanding business working for ride-hailing companies such as uber back to you. >> see you in a few minutes. thank you very much. at cnbc we talk to the sea suite. beats get to frank holland with the newest cnbc cfo council survey >> you know, just days before the president tweeted that $200 billion worth of chinese goods could see tariffs raised from 10% to 25%, the cfos in our survey expressed their lowest level of concern over u.s. trade policy since those tariffs on china were put into place last year. they don't see trade policy having any impact at all 15% believing it could benefit their business you could say rising optimism here in the u.s., but this trade deal still seen as a vashlg that has to be accounted for. especially internationally when asked what is the biggest exte

detectives say that ariana's death is not aig s of increased gang activity here in prince george's county>> not noticing an uptick. it's an uptick because of receipt cases. consistently it's the same activity wear sewe've -- activity we've seen in the past. we haven't seen more criminal activity coming from ms-13 in the area. >> reporter: an autopsy ruled the cows of death as blunt -- cause of death as blunt force trauma. police still looking for a suspect. the three in custody are all facingchmurder rges, first degree. they're all being charged, as well, as adults. live in palmer park, justin finch, news4, back to you. >> a sad of events on so many levels. justin, thank you. >>> a west virginia family iso also mning the death of their 15-year-older daug today an autopsy is expected to confirm a body found in the west virginia mountains is riley crossman. her mother's boyfriend has been arrested and charged. the sheriff says andy mccauley had been a person ofsi interest e day one. crossman vanished from her berkeley springs home last week. yesterday, a body was found in e te area near the

b >>> aig honor for comedian dave chappelle, the kennedy announcing he'll receive this year's mark twainrize for american humor. help pell group here in d.c. and went to the duke ellington school of arts anvisited his alma mater just last summer. knownor hisdgy and sometimes controversial humor, he jokes about race, family, relationships. the kennedy center said, quote, dave has challenged us to see hot button issues from his entirely original yet relatable perspective. chappell will be honored at a star-studded gala here in the district this october. >> oh, he still cracks us up. coming up, a c all toction for those who suffer in silence. when we come right back doreenn on fighting eatingating disorders. >> and no question about the interest in britain's newest royal. royal. just ahead, wh ween [phone ringing] remember the way we used to do things? hey man... like connect with friends? dig it! or get in shape? and pay a real estate agent a big commission. [crash] redfin, we charge you a 1% listing fee. and because redfin.com is america's #1 brokerage site our agents more eyes on your ho

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because historically a lot of teams treat game 5 as though it's game 7 because historically 70 propped up aig teams that win game 5 end up winning the entire series0and many of them actually james and area and of winning game 6. feeling the deep. fiat is up important. >>they're tied at the top of that a lot of the water with a. he went to houston with the commanding really can't really keep your if you can hear us your audio keeps breaking up. so we'll try get that fixed in combat yet what he's talking about is you know the importance of game 5 he's been stressing all along well. >>as that 70% of the time the winner gave 5 goals on the waiting game 6 or game 7 and now they're both tied up 2 games tensions are high the good news is obviously we're in front of a home crowd at the bad news is and but if we can just get clay and steph to catch fire laying and has been going house in the bag we'll see fingers crossed for tonight time now is 9 oh 5 and it's the second day of testimony oakland ghost ship warehouse fire. and we got to hear what led up to the flames we did forensic pathologist who per

the scope of the aig, do you understand or know what the scope of that report will be? will it be purely on this investigation or extend to other acts that may have somehow influenced this investigation? >> well, i don't want to be too specific. i talked to mike carr a few weeks about it. it's focused on the fisa, basis for the fisa and handling of the fisa applications. but by necessity, it looks back a little earlier than that. the people helping me with my review will be working very closely with mr. horowitz. >> i'm clear in this report there was no underlying crime. is that correct? >> yes. >> and insufficient -- >> that's the conclusion of the report. >> and insufficient evidence to assert that the president obstructed justice and a lot of that evidence was in the public eye. we're talking about tweets and other things that we're trying to assert for evidence of obstruction of justice. it seems odd to me that people on this committee that pound and pound over again that you're innocent until proven guilty with the extent of this report, with the number of resource

would you please explain what recourse fsoc would have in a scenario like we saw in 2008 when aig, for example, greatly expanded its sales of credit default swaps becoming a major contributor to the financial crisis? >> again, because of the way we're looking at it, we would have picked up aig in their risk associated with credit default swaps. the risk was primarily in the holding company and not in the insurance companies, which were regulat regulated, and that's the type of activity under our new rules that we would indeed pick up. >> mr. secretary, last week the federal reserve released its financial stability report and found that leverage lending has grown and protection that shield lenders from default and those loans have eroded. in light of the stern warnings like these, why has fsoc only convened on one occasion this year? >> actually, fsoc, and specifically the private working group, the president's private working group which is also associated on this issue, we've addressed this, we have calls in between formal meetings, so the primary regulators are studying this issue, a

i'm also buying aig because i think their quarter showed they're seeing a turn around so i can find things that does not mean that i'm buying cyclicals and china-exposed companies at this point. i want to. i already have exposure there. however, i do think the narrative has changed. i said this last week that friday was going to be binary. it is because the narrative has changed not from an economic point view of. we'll probably so if all tariffs go in as probably a half a point to gdp off the u.s >> that's what they said last time that's what they said the first time around before the tariffs went in. it's going to be 0.2% or less than 0.5% on gdp and we found out that ceos didn't have visibility >> that's what i'm saying. it's not that much from an economic point view of but it is from a consumer and business confidence to your point, do we get a cap ex cycle in the face of this absolutely not earnings are going to come down but more importantly, in my mind, you'll have multiple contraction. >> that's exactly where i was going to go next because the whole story, kevin, was built on multi

aig, a very strong earnings report. they both got some followthrough. they were where examples of stocks moving in the opposite direction. also mention of all 30 stocks in and 90% of the stocks ended in the red. weekly, into the bloomberg, because the volatility markets, the warning sign is the title of this chart, which can be found. the first and second month vix futures, a warning. we saw the vix spike above 20 for the first time in two months, and again, that was the biggest two a-day spike since october of last year, so -- the biggest two-day spike since october of last year, so, indeed, a bumpy ride. paul? paul: being sucked into the trade war, we have brent falling below $70, wti trading near 60. theyes, let's look at five-day chart for west texas intermediate, mainly traded in north america and new york. analysts say it really weighed on prices, not just because his actions are depressive for global growth but because they directly impact the oil trade, as well. a lot of traders closely following what happened with the u.s.-china negotiations. a

the general insurance unit had its first underwriting profit since the financial crisis, and aig saysng profit as well, so those shares, melissa, up big in the premarket. back over to you. >> all right thank you very much, dom chu let's get back to guest host mohamed el erian what do you make of earnings season so far? we did have a number of companies saying that china has been an issue for them, or a cost to them intel saying it was an issue for them cat and gm saying china-related tariffs are a cost to them so, given that the tariffs are going to go up, potentially, on friday, can we actually book this earnings season and say this justifies where we are now in the markets >> so, ferrari aside -- that's interesting. that's a huge jump in exports to china. everybody was exporting to china has witnessed a significant slowdown, and it's not just the u.s. look at south korea's numbers. look at taiwan's numbers and i think that's the reality that the chinese economy has slowed, has slowed significantly. it has lost the tailwind of the global economy and i don't think that goes away i thi

2008, would you please explain what recourse we would have any scenario like what we saw in 2008, when aig, for example, briefly extended sales of credit default swaps, becoming a major contributor to the financial crisis? >> again, because of the way we are looking at this, we would pick up risk associated with credit default swaps, the risk was primarily in the older company, not in the insurance companies which were regulated, that is the type of activity under the new rules that we would indeed pick up. >> mr. secretary, last week, the federal reserve released the financial stability report and found out lending has grown and protections that shield lenders from default on those loans has eroded. in light of stern warnings like these, why if you only convened on one occasion this year? >> specifically, the private working group for the president is also associated on this issue. we have addressed this, we have calls between formal meetings, primary regulators are studying this issue, it is something that we are not particularly concerned about in the moment. but we are monitoring at ve

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lowes of aig hit a yesterday. plunging.s the ceo is stepping down and leaving the board.estimates. that is the bloomberg business flash. francine: let's talk uber. they have sold 180 million shares, and the highly them aated ipo, giving market valuation of $75.5 billion. even at the low end of the price uber is set to be one of the biggest on the exchange since alibaba. uber, howook at telling is it that they are at the lower price range, and does this have to do with softbank? they are tied in with uber. matt: it is more about the realities of demand in the marketplace and where people are prepared to pay for this asset. it is not making money so you are taking upon some big future growth. they did not want the share price to come under any pressure to the aftermarket so they will have to pitch it where there is high quality demand for the shares. francine: when will they make money? matt: good question. it took amazon a long time to make money but this could be a similar story. extending into a range of complementary areas like uber eats which they already do, scooters,

chubb, progressive, aig, met life, all state, travelers, all with exposure to the catastrophic losseses wind and hail in the midwest so why are the insurers doing pretty well year to date analyst paul newsom tells me property casualty insurers are considered safe haven trade. so if the storm is on wall street, investors it seems find shelter there. sara >> yeah, i mean, what exactly is the date for hurricane season? >> june 1st, it starts on saturday. >> i got to get my gear ready to go >> hopefully you won't have to use it let's send it over to jon fortt with a look at what's up next. >> good morning. big news for from fedex. seven day ground delivery starting next year they always do it during the holiday season they'll continue it into next year we have got the president and chief operating officer coming up on "squawk alley. >>> welcome back to "squawk on the street." let's get over to rick santelli back at hq for the santelli exchange. >> i'd like to welcome my special guest david wessel i'm going to get right into it pretty much every story i read that talks about dropping treas

we've got a special hour and we are shining aig l on our military caregivers.h hope hanks been practicing. >> i'm going to tell him you expect a lot. >> someone else is going to be thercr >> sheryl ow. yeah. we're going to treat you to a concert. we hope you'll join us there. >>> let's get to the weather. no letup in the weather causing so much violence in the south. where's this headed? >> it's slowly moving east. we've got tornaow warnings firing up throughout much of oklahoma. from tulsa all the way down to the texas border. so this is a situation. flash flood warnings are up. so all this going on while w look at the risk areas. you can see from st. louis down to little rock. 11tates involved. 17 million people at risk. tornadoes likely in this area. esen we move into tonight. itns a bit, but can't let our guard down. luckily a o low risk tornadoes. and tomorrow we've got a risk of some severe weather in northeast and mid-atlantic. we're also looking back to the west from selena kansas to amarillo. hail and tornaes poss. fast-moving storm bringing with it co

another busy week of earnings kicks off monday with aig, occidental petroleum and tuesday lyft, as wellronic arts, match group and mylan. >> wednesday, etsy and uber. booking holdings, tapestry and dropbox, friday brings uber's long-awaited ipo and earnings for via com and tribune media and myriad we have a few key earnings, mike, but uber will be front and center >> it seems like they'll build toward uber. be beyond that, we're at that moment saying okay a lot of people onboard with the fact that the market has upside momentum and this rally has been more impressive than most thought and a lot of people looking for the ironic top moment whether it's softbank deciding to go public or uber getting priced and it doesn't work that much according to script, but i think that's where we are in the market lyft earnings which is interesting, and mike, today resoundingly positive and taking us flat for what was otherwise a challenging week coming back off the highs. >> it goes down as an up week and it's important for some folks up 17.5% for the s&p. >> have a lovely weekend, everyone thanks for

i mean aig quadruples in size between -- excuse me 2002 and 2005. >> the -- so we just received the letter. and we are looking at it. but the conclusion that the designation po would take six years was highly dependent on a number of contingent assumptions. >> based on their experience. >> well, they didn't have experience with an activities based approach. they were making -- they were making assumptions. i don't think that those assumptions are likely to obtain. i don't think it would take that long. but we are still examining the dir dsh their analysis. >> mr. chair, i know i'm out of time. i'd like to request that that letter be introduced into the record and i'll have further questions on the record on the letter for the rest of you following up. >> without objection. and thank you. >> thank you. >> senator mcsally. >> thank you, mr. chairman. i represent arizona. and over the last several years there have been significant challenges with those businesses and in ogalles and douglas. legitimate businesses family owned businesses that have had accounts closed because of the anti-money l

and i have a new position in aig.was actually very good and i think that new ceo is turning around the company nicely >> citigroup was weak today because it's slightly more internationally exposed. but i get your point mike, another question on the banks is whether the investment banks, the capital markets, can have a good quarter. because we have seen volatility pick up. >> right which can break either way depgd on the ban depgd on how. you also have shaping up decent corporate bond issuances the makings are there for a decent quarter i do think as i mentioned since the yield curve it's probably a net positive that the three-month to ten-year yield curve is just about flat again and we're not seeing any signs of the complete panic that we saw when it got inverted last time because it was really kind of brief sort of quasi-crisis for a moment >> you mean the banks or -- >> the banks in general. maybe if we move three basis points and it does invert people freak out again. but i think maybe we learned a lesson that we

controlled scientific studies as part of a package of interventions thatge moves suicide prevention if being aig highly variable and inconsistently implemented individual clinicalal activity a emsystematized and prioritize effort. it uses the most recent science on screening, risk assessment, safety planning, care protocolless, and evidence-based treatment. we've also been working through all of our suicide prevention grant programs to improve post-discharge follow-up, since multiple studies have shown that rapid contact after discharge from e.d.s and inpatient units is a time of high-risk. the samsa suicide prevention program that touches the greatest number of people is the jif nal suicide prevention loan line, a network of 165 crisis centers across the country. it luz a special link to the veteransis crisis line which is accessed byy pressing one. last year, more than 2.2 million calls were answered through the lifeline, and that number has continued to grow at a rate of about 15% per year. however, the increasingcall val the tlifeline system of community crisis centers which are responsible

dagen: looking aig headed to 2020 election, ed again the economy is 10 years into this economic run,i worry about strongest economy we have had 50 years president trump getting no credit for it in polls, indicate that, that is is already my big worry if i was running his campaign obviously, i am not that is all would i talk about here us how he we got this economy moving again we had to undo all the stuff biden obama had done, special orders -- this is what stimulated movement going to continue to move forward in the future. dagen: why isn't he getting credit. >> i think tum subjects he talks about never same story same day it is -- and he is not a disciplined messenger i think he has been -- amazing ability to lead but at the end of the day not a communication strategy that worked. and i think to a certain extent, fact that again he had -- we have strongest xh i in world people sort of assuming it happened as opposed to him making it happen. >> this was gone on over and over again trying to sell tax cut legislation, ed people deniability understand that every income level got tax ta