aig will renamed that business.eak this year following the company announcing that it is cutting production of its smartphone by 20%. the cart comes on signs that consumer-electronics demand is being hurt by the war in ukraine, and rising inflation. sources tell us chinese chip designer by run is looking to raise 314 within dollars to fuel growth. -- $314 million to fuel growth. it looks to become a chip powerhouse and reduce its reliance on the u.s.. the company said it could not comment on deal specifics in the middle of fundraising. haidi: we are just over half hour away from the start of trading in china and hong kong, investors are still facing risks. the lockdown in shanghai, the yen's tumble adding pressure on currencies like the yarn. sofia horta e costa joins us. let's talk about the impact of the china lockdown. the impact on tesla for example, when it comes to dropping their production. and companies like shiseido will all be affected. sofia: exactly. add this to the lockdown in shenzhen and what is happe

aig will rename the business.'s net profit -- while -- help cushion the impact of american sanctions. the cfo led the briefing. fronting media for the first time since her release from house arrest in canada. the company is aiming to hire more than 10,000 plus college graduates. sources are telling us a chinese ship designer is looking to raise three under $40 million to fuel growth. it is among a group of chinese startups china is adding on to become a chip powerhouse and reduce reliance on the u.s. the company says it cannot comment on deal specifics in the middle of fundraising to shery: we do have more when it comes to competing against china. we are hearing the senate has passed the china competition bill. they will start negotiations with the house of representatives and they will be working toward negotiating a compromise legislation should both chambers are backing a $52 billion bill to eight chip manufacturing. that would be in grants and incentives. haidi: federal budget day in australia. these are some

constance hunter cheap head of strategy at aig. it got to get used to saying that. come on board and introduce our keynote. >> thanks dave. thank you dave. thank you lavonne franklin two underscore the requested donate to the foundation. and it is my pleasure to introduce jerome powell, the chair of the federal reserve and a good friend to nabe. now i probably do not need to read all of chair pal's bio. i think all in this room are familiar. i would like to touch on a couple of highlights. chair powell, first joined the board of governors in may 2012 to fill an open term and unfilled term he was reappointed to the board and sworn in on june 14, 2014. he then became fed chair and is of course currently up for a second term. now chair powell has been in d.c. for a long time. he started his career at carlisle. he served as assistant secretary an undersecretary to the u.s. department of the treasury under president george h.w. bush. and he has also worked on the hill. and so he is a long time keeper of the d.c. scene. we could not have in my opinion at this moment find

'sthat aig b push fr other toe e saodes. they've seized kheonrs, a small to iwnn the south.ssa is a town in the south. rtainly what teverhe russian plan was, the reality of the stng othf the ukraianni densfoe rcesnd a thevo lueentrs has been extraordinanary d eaclrly not what russia expecd,te and, so, atheyrele carly vreinisg whatever batpltle an they may have had, that has certainly seemed to ghaveone out the windowow n a tndhe russians are yitrng to, you k, nowit seems, acrdcoing to u.s. officials, that tarhey e just now going to what they did in peaprhs aleppo whh icisus jt lay ewast to cities, walay st teo residential areas to breheak t backo thave the ukrainian peo--ple the back ofhe t ukrainian people, that is the attptem.i ha bveeen gdoin this 25 years i and ha bveeen in aot l of couns trieofar w, i have never ense a populatio an in country at has been invaded as unified in theirpl comete loathing of russia in this case,f othe atck, erand to a, man wmoan d anchild, theider sire to st this, whaveter may come, resist in shthe ort term and if e theris o nccupationau becs

is a public -- it's the free market what aig wants to do >> of course it's the free market >> wouldhat they want, and if a oil company decides they don't want to drill because they don't think they can get their money back on it or it's not feasible, you could make the argument those are market forces, but then again market forces are only as good as the regulations and the government over sight. we've seen so many examples in the past how government can screw up free markets. what do you think it is? >> well, i think it's the combination of several things. like i said the federal regulators of the biden administration has put forward a lot having to do with finance, right, comptroller of the currency, fcc chief, they're all putting out signals. i mean, heck, some of them are just blatant we want to bankrupt america's energy companies that's what she said before she was yanked as comptroller of the currency you guys did a lot in terms of what raskin said they didn't get the job but they're sending the signal let me continue. it's john kerry and gena mccarthy going to american financ

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the disbelief of his fiancee, his mother, his brethren in blue and our entire community in saline aigs. although the investigation of the incident is ongoing, the chief of police stated that officer alvarado stayed in the fight until the end and paid the ultimate price, but result, the suspected cop killer is behind bars. jorge alvarado understood what it means to give back to his community and to his country. for his -- with his time in the u.s. army as well as his five years as a police officer. although we look back upon his commitment and actions as we mourn his loss, let us also look to officer alvardo's legacy of service as a way forward. we must realize that our communities, no matter their makeup, rely on men and women who make up our police departments for order, for safety, and for our upward mobility. officer alvardo did that not only protecting salinas, but also he got up every day and left his home knowing that his job was run to the danger and not away from it. madam speaker, officer jorge alvarado ran to the danger on friday night. let's make sure that his service, that

criticafol r calorifnia dan r the hethal of e thbay aa'r's vienronmten sulhod hise concerdne about aigicizedas ce before the unit sedtatesus preme crtou that could limit e thepa'' pow.er >> in the bayre aa, there are uncotless empxales of h towhe vienronmentaprl otection agency has broug fhtederal ls awand enforcement to pteroct the health of peleop and wildlifine naretu. h>>e directs save the ybaom ce thenv eironmentalro gupas h succesulsflyou fght shorinele develoenpmt along aec stionf o lfsuides nearer dwood ci.ty a ctviory that's -- that he says nghied in pa ortn thepa e. >> s fanranccois is a grtea ample of -- ju rstecently we won a court case thatea rffirmed of envirmeonntal protectnio agcyen has the right and duty to protect tewars of theni ut atstes inclungdi on the shelorine othf eay b. >>nt io the cuenrrt suppor--t suempre court case, coapol rwe producerins theta s otef west virgiain have auergd the perows congre dsselegates to the epa arbee g inused tooro badly. when inta o program to reduce carbon essmiions durg inthe ama admistniration. it fusoced on iennctives and targets

if you're between the aiges of 8 to 60 and i have met so many people who had to leave everything behindmall bag. i met a woman yesterday. she was with her 10-year-old son. she won't relieved, she was exhausted. she traveled five days by foot, by bus and by train, and she had to leave her 22-year-old son behind and she didn't know if he was going to make it out. she didn't know if her home would still be there and she didn't know where she was going to sleep that night. i said to her, what's your biggest need? she said a place to sleep. and also a shower. and i don't even know which one i want first. so there is a clear, a present and a massive need, and it's only growing. >> "the wall street journal" estimates two ukrainian enter poland every three seconds. what resources -- obviously we've seen a lot of groups operating at the border. when people leave the border area, then what happens? >> so they're really flooding into other areas. poland is receiving the most. it's 1.5 million people as of today. and what i've seen is they're getting on buses. there's a map at the desk and they get

he likes aig, american financial group and access and wells fargo's alise green span writes she likesp side on arch capital and the hartford, but he's leery about auto insurers, because of expensive repair and replacement costs. the rates are rising but it's not keeping up with how much the ininsurers are spending on the cost of claims she points out rising gas prices might suppress the number of miles given and that typically drives down accident >> that's interesting. maybe the auto insurers are riskier. i hear people complaining about what they're paying for autos. the fact that some are losing money, could that push people to startups, the well-funded but not profitable startups in auto shurns that could chip away market share >> let's talk about root which came on with a big splash. what we've seen from them this year is that they've cut 20% of their work force, and they've downsized on their real estate because the costs they're paying out in auto insurance claims has become so owns you where some of the up start insurers do have an advantage, especially those that go directly t

. >> one oe f threonass that we do when you latook aig fure like this, th aat'sctlluay been life cast yalou tked abt inbeg life cast seand eing your... ithiss u,yo this is your skin, this is your face. literally me. this is kimy sn. is is my face. >>epteorr: there areo als esh-and-blooted inrpterers in costumesyi planghe t roles of orhistic faligures. the ummuse'sla bck interpreters portray ebothnsvelad and free op.le rpinterer tekalela williams. >>ou y know, otherck bla fksol will look e at mansad y, you kn, owhow does it tfeelo raporty sla ave? and i ragenelldoy n't. t,ut b not in thisra chact,er but ouof crsi e would. anthd at's somethihang ttha tt's th'sat a role thatou i wld likepo to rty.ra toand m te,here's, there's, ths ere'betyau in portrayihong w was e,ther. >> rteeporr:ur crently, williams portraysen hela rrhais, a philadel sphiachltooeacher-- a re professior n foa acblk won tinhe 1790s. whae ve a very na irrowdeofa e wherblk acfolks playedol a re in h theisryto of the united states. >> w iant people tmeo co aywa with the undanerstdi tnghat black hiy storis.s u. history is

can you give me your thoughts on how we can work with agencies like aig and the trade representatives to dissuade countries in the area of responsibility from down the path of further economic entanglement with china? >> senator we worked very closely as i mentioned before regarding the focus that we have a work in the western hemisphere so we at the close working relationship with usaid and i met with director powers previously paid she travels the region as well. none of us have the resources so i think that helps us work together more collaboratively across all band or agencies and work so close together to figure out how we can invest in this region. i'd like to highlight china gets 36% of its food source from this aor as well. their wide resources being eyed by our competitors. >> i think it's a matter of growing importance given the war in ukraine and how much grain ukraine and russia provided the rest of the world as well as fertilizer and other agricultural inputs not only increasing prices on her groceries here in america but also threatens the stability in your region and pl

but africa seems to be a much more significant case where without state departments of support, , aig cybercom other departments that commission is not as effective. can you elaborate a bit? >> thanks chairman. i think it's now don't not as effective. i think it's not possible for anyone arm of diplomacy velvet or defense to succeed without the other especially in africa. the economic challenges, the political challenges and the security challenges are so great that we can only make headway together, that's particularly important because we have such modest investments there, modest resources focus on the continent. so, therefore, we have to row together. >> gentlemen thank you for not only your testimony but for your distinguished service. thank you. senator inhofe, please. >> thank you, mr. chairman. general townsend as as a sedt opening statement want to talk more about the plight of the people of western sahara. many of my colleagues may not be familiar with what they've been going throughout their but it's nothing short of a tragedy. the fate of the sorrow, the people of been in

chub, aig, prudential up more than 10% why?s have little impact, and people and businesses tend to pay on insurance in spite of economic slow down. they're benefitting now from a rotation out of growth and into value stocks piper sandler analyst paul newson predicts the next quarter will still be a good one with limited natural catastrophes and prices for commercial insurance has been rising over the last few years. that contributes to expanding margins. kbw meyer shields points out underwriting results have improved and last year's profitability is reportedly just conservative so the cost of litigation, lumber and labor, they're largely predictable and baked in and wells fargo green span tells me she likes the potential up side but she's wary about auto insurers what we've seen is high accident rates and expensive repair and replacement costs. those rates are rising but not keeping up with the cost of claims, although we might start to see gas prices and that of course drives down accident rates. largely as a group the analyst