betty:. happens, where the stock market of that home country whose status change , rises and you see that happening. the question always is, what happens afterwards? we have got some breaking news right now. we have the numbers out. -- chinaufacturing nonmanufacturing pmi numbers 54.5 for the month of april, 54 pmi atnonmanufacturing 54.5 for the month of may. that continues to underscore the deleveraging process in china and the impact on the economy there. slightly,umber, just in terms of nonmanufacturing pmi , services pmi -- just slightly above fried prior -- slightly above prior. yvonne: to marginal gain, but there is a lot that entails the nonmanufacturing pmi -- services industry, construction. that propelled it in the previous month. we will have to see what the breakdown entails. we are waiting for the manufacturing pmi's, should be any minute. meantime, you can get a roundup of the stories you need to know with today's edition of "daybreak." bloomberg subscribers, go to dayb on

betty: and i'm betty liu.of the data coming out in the u.s., and it is giving you a softer read in asia. atnne: we are still looking some direction here at the start of the session. we mentioned retail sales and inflation out of the u.s. to be crucial in how they consumer is rebounding and reflation -- inflation will be rebounding as well. net marble shares are still trickling through here. let's look in with heidi first. haidi> ? >> it feels like this directionless trade has some volatility, and what we had overnight was actually the biggest movement on the s&p for about 15 sessions. that counts as volatility, but take a look at the open shares. we are expecting a low open when it comes to tokyo and sydney. different riders, but for the nikkei, take a look at that. it is definitely a yen story because we have the at one $1.13,13, the most -- the most we have in one night. preparing for a potential but of downside when it comes to the us really markets today as well. but let's take a look at commodities, becau

betty: i am betty liu in new york.ities slide after strength magnified losses in the selloff of european bonds. we have the head of americas fixed income strategy. say the bond markets are at a turning point. what do you mean by that? >> we are at a confluence of forces happening at the same time. on thed was mildly hawkish side. they're looking through the weakness on the data. we're looking at the charts and how yields are forming. i can look at the moving the resistance around the 230 level on the 10 year. those need to get resolved in the next week or two. betty: there is still debate about whether the bond bull market is over not. there is a big question whether the bond markets or said it really reflects what is going on in the economy. richter's,e had jim who said the u.s. will be in a recession. what does the public think about this? i put out a twitter poll and a 900 people voted. it is still going on, so if you have not voted, i encourage you to go on my twitter. and vote. we asked people, do you think a rece

betty: plan betty liu in new york. lou in new york.wth forecast, some suggesting an retraction at the possible end of the australia recession. look at the evidence. looks like the economy is on shaky ground, people are whispering the r word again. reporter: they are. it is in hushed tones at the moment, but we never know. we had some very fatal construction data that came at -.47. as you mentioned, the climate is going back to the spreadsheet for what growth might be in the first quarter. they are currently expecting it will be a small positive. the average is probably between zero and five, but we could get negative numbers. weak,les have been very and we have mortgage debt and wage is not raising much. money has fallen a lot, and that has, has been a drag on gdp. -- capex has been a drag on gdp. haidi: a huge part of that is the china story and the pmi week and indicators suggesting it has been as good as it gets when it comes to china and we could face shaky demand. reporter: that is right. and you have to cut during the cycle in ma

betty: betty liu in new york. saying he will continue to bet against chinese is "daybreak: asia compa pullback in credit will send shockwaves throughout the mainland economy. the muddy waters founder told bloomberg expects china's credit problems to reach a breaking point. carson: it is actually very difficult for me to be here in may 2017 and seeing that this -- be here in mid-2017 and see this has not collapsed yet. i have felt for many years it is an enormous asset and credit bubble. you get under the old orthodoxy, that could not be sustained that long, but if you look around the world, you see that the ecb, the fed are helping to sustain frothy asset evaluations. japan hasn't made sense in a few decades. so the china question is really how long they can keep it going. i don't have a view on this. i think ultimately, there will be a day of reckoning. i know that, i just can't tell you if it is two years or 20 years. >> you don't have a view of the timing, but you do feel certain of the outcome. carson: yeah, t

betty: i am betty liu in new york.latest business flash headlines, warren buffett said his ill-fated bet on ibm should not discourage future tech investment. ibm shares dropped as he said, he cut about a third of his stake. speaking at the annual meeting over the weekend, he said he blew it by not investing early on in google. berkshire holds more than $19 million of apple shares, but they say they are more of a products company than tech. has fxppg capital meetings. their top three newspapers. shareholders will get $.95 per share in the company including the new zealand is this regional newspaper, and a stake in radio and streaming ventures. it is reviewing the proposal which may not boost shareholder value. wants qatar airways to sponsor the next several world cups. it will be the official partner inthe tournament in russia 2022. the ceo said fee for embodies the power of football hilarity and is a natural partner for the airline. get one more what we should be watching with trading underway in asia. adam is with us

betty: i am betty live, you are watching -- betty liu in new york.-- let's start with start with su keenan. kim is a former vice finance minister in chief of the office of government of policy coordination. he faces a list of challenges including rising household debt, highs youth unemployment and weak domestic demand. saudi arabia's oil producers are in agreement about extending output cuts. that would drain the global class. saysy minister kareem maintained the restrictions to the first quarter of next year will trim the stockpiles to a five-year average. the leading independents will make decisions when they meet in vienna later this month. >> i have often heard of countries against extension period everybody wants the , because we have not realized our objective yet. and the brazilian president michelle tanner -- michel temer has urged the investigation against tim. he said he was set up during a , and peopletation are bringing allegations against him. the stocks and the riyal slumped after the investigation and engaging in passive corruption. gl

here's bloomberg editor at large, betty liu. betty? betty: thank you, david.ere with phil falcone. good to see you today. the reason you are sitting here roster me is that you just wrapped up a roundtable with the vietnamese prime minister. you are looking at vietnam as an opportunity. the single biggest, i believe, foreign investor in this resort. is that right? phil: that's correct. betty: what was the roundtable like today? phil: as part of our investment, we have enuilding up th real estate project for 10ly sem legacyenture, but from a perspective -- betty: harbinger? phil: correct. they are interested in seeing more of opening up the markets a bit more and they wanted an introduction to some prominent investors over here, including some different corporations. so, we hosted this roundtable event this morning with the prime minister. betty: right, because he's headed to rep washington after this to meet with the president. what were the questions? phil: there were a number of questions around the telecommunications perspective, are they opening up the mark

betty: i am betty liu in new york.'s stay on the story out of washington. president trump in the midst of his biggest crisis since he entered the white house. markets unsettled by the drama. the doj has appointed a special prosecutor to oversee a legend links to russia. that, as a president deals with the fallout from the alleged memo, that claims he gave classified information to moscow. bloomberg congress editor is tracking all of this. we just had some more comments from the justice department saying the white house was told of robert mueller's appointment after the special order was given. how significant is that development? >> this appointment may go a fairly long way to calm congress -- calm calls in congress for a special independent counsel or commission to investigate the whole russia-trump controversy. the initial reaction from both parties has been almost entirely positive. -- jason chaffme etz called it a great selection. and dianne feinstein said it was excellent, as good as it gets. ago,u heard a few min

betty: i am betty liu in new york.y has dealt a blow to wells fargo, banning the bank from any new official business in municipal bond sales. the banking group has to prove -- improve its track record. -- they sold -- yvonne: mitsubishi may have to abandon one of its best-known models as it recovers from a fuel economy scandal. they plan to increase spending on research and development. thecompany has blamed scandal in part on overstretched engineers. the ceo says if it does not make a choice -- it will make a choice and keep up with environmental rules. >> whether we continue with a model depends on whether there was a market for such a vehicle. we need to decide if it is worth investing a huge amount of money and human resources to prioritize its development. betty: resource companies are taking a hit as iron ore prices sink to a seven-month low. it is the metal's longest run of low prices. the worst performer on the london metal exchange so far this year. yvonne: the trump administration rules onng to relax drilling

betty: and i am betty liu in new york. chief correspondent from south eight -- southeast asia is in beverly hills with more. attention turns to the recovery we have seen. we talked about the casino earnings last week to read the recovery in macau. is a sustainable after a two-year slump and eight months of recovery? let's get a perspective from the melco ceo and chairman. it has been a long, long time. >> thank you for having me. >> are you convinced of the recovery of melco? >> there has been eight months verypular growth after two tough years. we were very happy with the recovery. ultimately the crackdown was not focused on gaming. it was focused on anticorruption and anti-extravagance. like all luxury sectors, was really collateral damage. peak of that crackdown is passed. >> what is making the gamblers come back? >> the middle class and the wealthy individuals in china who did not do anything realize they are in the clear in the can go back to delivering their upscale -- and have fun again. that is why we see them comi

i am betty liu. betty liu in new york, where it is just after 7:00 p.m. yvonne: it happens to everyone. it is just after 7:00 a.m. in hong kong. i am shery ahn on tuesday. i have got to say, it is a live -- it is a live day. nothing, to be honest, as as whatg happened in the u.s.. the s&p 500 is close enough 2400. betty: maybe because there was also a lack of economic news or any really comments in the fed that investors went back to focusing on some old standbys, which, for instance, oil prices. oil prices routed. and energy shares zooming higher. we also saw it on the nasdaq as well as the dow, closing up. it sets us up very nicely for gains in asia. shery: let us see how they are early tuesday morning. new zealand, the only market .2%, after losses. the kiwi dollar gaining around 68.89. do keep an bang on the commodities and currencies such as the aussie dollar. oil of course surged. in the 200 barely moved last session, but when it comes to futures, they are pointing upwards .3%. the aussie dollar not doing much at the moment, but keep an eye iba.he t

betty: excuse me. i'm betty liu in new york. we are live here. aussie budget sees iron or falling. joining us now is the senior analyst for metals and mining in sydney. peter, we saw in the australian budget, there was forecast for iron or budget by march. you mentioned in your notes, if you look at the budget to give you a forecast on where iron ore prices go but how accurate you think they were in their forecast?/ peter: the $55 number resonates on what we expected, but you said $55 per ounce. it is per ton. betty: excuse me. peter: it is the normalized price for iron ore. is a normalized number longer-term. short-term it was 2.17, but it reflects a longer-term higher demand. it is about marginal cost-based pricing and that is where we see producersn world sitting around the $50 level. short prices will move higher and lower due to the movers in trend should be down to about $55 and we expect that sometime during the second half of the year. betty: what will be the biggest factors for iron ore? prices?l drive the peter: there are a couple of fa

this is bloomberg. ♪ ♪ betty: good morning, i am betty liu in new york.aidi lun in sydney. you are watching daybreak australia. the business flash headlines, bhp billiton is going back to plain old bhp. they are about to launch a $10 million advertising campaign, changing its logo. they want to change the way the community thinks about it. change has been in the works and has nothing to do with the accidental recent hold for reform. mitsubishiges to the u.s. financial, which will consolidate accounts into its commercial operation. that would see a record in the bank of tokyo. moveenders hoping to efficiency. the changes will affect about 2600 corporate customers abroad -- boring -- of borrowing. haidi: the investment arm of the sovereign wealth fund of abu dhabi is going to invest as much as $15 billion in the seoul-based vision fund. they say it is a significant return, and they will make their investment over the next five years. softbank will wrap up in the next two to three weeks. $95 billion of commitment so far. betty: china laid the framework for i

betty: i'm betty liu. -- i don't markets know.likely be -- it seems like we are at the return of the market. pretty much closed right at the height of the session, but not a lot of movement. i think investors are waiting for more catalysts in the form disney, forlike instance, or the retail sales numbers that are out on friday. certainly it seems at this point the fed is set on its rate hiking. yvonne: pretty slow going here in the asia-pacific to start things going. let's get to the market check with sophie kamaruddin. sophie: australia also to deliver its budget. plenty to consider. with the dollar back in fashion, that has pushed the dollar-yen back above 1.13, which is helping to make the nikkei 225 edge closer to that 20,000 level. we do see shares in sydney resuming the climb after monday's gain. take a look at the commodities space. we have that iron or rebound faltering. that has been a drag on other base metals such as copper and aluminum. copper wiping out 2017 games following that slump we saw in chinese imports of the

betty: i'm betty liu.ew hours and in this program are going to talk about one major project out of road,which is that putting a ton of money into this project. this chart was quite interesting. we talk so much about the capital controls and how it's affecting the renminbi and the bond markets in china. look at this, it's really affected dealmaking. we know that chinese companies have been so acquisitive, especially in 2016, it was a year when they went after many foreign target in the u.s. and europe. with these capital controls, it looks like it's working here. the money staying at home, not a lot of deals. the lowest levels you have seen in years to. since 2015 have you seen merger activity this quiet in china. it's going to go slower here, so expect the deal size and flow will tap the brakes here for the rest of the year. china markets facing another down day. were still looking for signs of a rebound of some sort but it doesn't seem the case after late day selling yesterday. tokyo and sydney still open

betty: i am betty liu in new york.hor: u.s. policy makers would like to start shrinking their bloated balance sheet by the end of the year. guestpen growth, our next says the fed's communication around balance sheet reduction has been excellent and shall limit the chance of another taper tantrum. you know, we just had jim bullard on from the st. louis said he said the taper tantrum a few years ago was a malcolm indication -- was from communication. do you think the fed is going to execute both on the execution, but also on the committee case and this time? do you have faith in that? executing veryen well. i think they learned a very important lesson from the taper tantrum, and particularly out here in asia and other emerging markets. what happened. it has huge effects globally. we saw that in the minute last week on just how much more detail and careful they are deliberating how they are going to go about it. my sense is that this, when they do actually start reducing the balance sheet, it will be the most signaled the

betty: i am betty liu in new york. internet lenders smart ,inance have consulted banks this could happen as early as this year. on company judges borrowers factors, including how often they charge their phones. ceo's says they expect to reach $1 billion evaluation by the end of 2017. saying, it is a profitable company and not a bubble. they expect to approve 4 billion loans a month. tumbling again in singapore, falling to its lowest since september as they consolidate the stock next week. shares have more than halved since february, over concerns management team will not be able to mitigate losses. the founder is preparing to step down. betty: analysts expect a 13% increase in first quarter sales when it gives an update on thursday. revenues it should get a boost for strong momentum from athletic shoes. modeling a white developed after a tennis star. analysts think they can do it. yvonne: love those. the pentagon is heading to china to boost drones. they want 19 models made. -- itrpose of the order is specific to make

i'm betty liu. we will be looking in all the action on wall street playing into the asia-pacific trading day. two within the last minutes, we got that breaking news out of washington. president trump firing the fbi director james comey. our chief white house correspondent has the latest on this news. ?evin, what happened here he fired comey on the recommendation of attorney general jeff sessions, right? reporter: yes this is breaking is just coming out of 1600 pennsylvania avenue, where fbi director comey has been fired. president informing the fbi that he will no longer be leading the bureau. in the letter where he informed mr. comey of the firing, he says -- i want to read it to you. he says "while i greatly appreciate you informing me on three everett occasions -- separate occasions that i am not under investigation, i nevertheless concur with the department of justice that you are not able to effectively lead the bureau." clearly in the context of washington and the conversations that have been

betty: i am betty liu in new york. you are watching "daybreak: asia ."et to the first word news with paul allen. budgetresident trump's has been dismissed by critics as a fantasy that would dramatically reduce the government's role, cutting social safety nets and negatively infecting -- impacting many of the world working poor who put him in the white house. it proposes $3.6 trillion in spending cuts over the next decade, including medicaid and low income housing assistance. >> it is a fantasy document. the assumptions about economic growth are ridiculous. it does not include the president $5.5 trillion in tax that's and the spending -- in tax cuts and the spending cuts are so massive, it is hard to imagine the republicans going along with it. rather than balancing the budget, it creates more deficits because of the huge tax cuts. paul: philippine president rodrigo duterte a as put a southern island under military role after terrorist links to the examining -- link to the examiner state clashed. the president is cutting a visit to russia short to handle

break: >> ain't betty liu.e will be watching what is ahead on wall street and how asia may affect the trade. markets were closed today to commemorate memorial day. no action at all here in the u.s.. we have lots of economic numbers including japan. jobs numbers as well as retail sales data. haidi: that is right. weekjobs at the end of the and the fed trying to get the last word before the june meeting. in asia, a very meandering start to the week for global stocks. we had european stocks hardly moving. china yesterday closed. up about 1% at the moment. the dollar has been trading sideways given the absence of the market catalyst with the holiday start to the week. australia futures showing a downside of about .1%. we do have iron ore trading below $60 a ton for the first time since october. a note today saying they expect headwinds when it comes with a downgrade of china. a reminder of how vulnerable the aussie dollar is. potential further down risk. at $50 a barrel. gaine seeing iron ore above 1% but trading w

betty: i am betty liu in new york.rned it will continue its nuclear weapons program after testfiring another idiom range missile on sunday. i will go to seoul now and are be -- our bureau chief. there is no room at all for a softer approach. testter: yes, it is a real to the south korean president who pledged a more conciliatory approach and talked about going to pyongyang and talking to kim jong-un. these two launched two missiles when he took office may 10, so a challenge to his policy near north korea. yvonne: we see those concerns once again with the eighth ballistic missile. president moving making key appointments. what do you make of those? reporter: significant appointments. he made them on sunday, showing emergency of them. the key one was finance minister. well-respected, basically a long time civil service worker who basically rose through the ranks, to the highest position you could attain, without being appointed. his background is interesting, came from a poor family, could not afford any of the major uni

betty: and i am betty liu in new york.ad a disappointing read on the key indicator of the health of japan's manufacturing sector. machine orders came out for the month of march, some big misses and a decline even. what does this mean for japan, for policy, for the bank of japan? kathleen hays here with a look at this. what happened here? kathleen: they just came up short, at least against the forecast. the bloomberg consensus survey number was for a gain of 2.1% in march, a month on month gain, and it came in at 1.1% -- 1.4%. let's see how it looks. the white lined is the core machine orders, from shipping companies and utilities. it did rise, but it should have risen more to help offset the drop of more than 3% in january. the blue line is pretty flat with a bit of a downward tilt year-over-year. core machine orders are getting weaker. i had a conversation with the currency strategist at bb h investor services. here is how he described the report. he said, orders not good but not so bad. the pluses here -- global growth,

betty: i am betty liu in new york.nies across the region should be on alert for a massive cyber attack. , you will bemac ok. raimi inocencio has the latest. if you have a macintosh come you should be ok. ramy: basically this brand somware is-- ran targeting windows users because there are holes that people can get into. let me go through what this is. cry will make you want to cry if he gets into your own personal computer. it holds your computer hostage. can't get back into your own computer and data unless you pay up. they are demanding at least $300 and asking for that in bitcoin. don'tises higher if you pay the first time. there is a countdown clock. if you don't do it within a certain time, you would lose your data. developed atpon to nsa and was leaked the masses. looking at where it has hit, everywhere from europe to asia, the united kingdom, the nhs had 40 organizations hit. that x hit in the united states. russia's interior ministry has been hit. we're also seeing one unnamed business in the asia-pacific. chin

betty: right.eel we have the model tweaked the right way to allow us to be flexible, yet give us control, and do what we -- what i think me and my team do best. betty: does it make you think you should have done it earlier? yes, i mean, considering the amount of reductions one could look past and see what happened betty:. betty:-- happened. betty: right. philip: you can't second-guess it, though. the hedge fund structure worked out for me very well, and it was a good platform for now, this, kind of second stage. betty: do you think is in a permanent decline? philip: no, i don't, because there is a tremendous amount of capital. it is tougher for the little guys because the business is much more institutionalized. i think the fee structure will have to change, but there will always be the need for high-quality investors. no question about it. betty: when you say fee structures have to change, what do you mean? philip: do you pay two and 24 a fund that matches what is happening in the s&p? betty: shou

i am betty liu.ecap some headlines out of greater manchester, an explosion at an aria ground a concert -- our rio grande concert. it looks like the fatalities are in the double digits. u.k. terrorism officers are meeting in london. please consider this incident possibly be terrorism. we have noted the reaction and several markets, bidding losing the japanese currency. it looks like we are hitting fresh highs for the japanese yen given these new headlines raking out of the u.k.. the yen continues to strengthen, 110 point 93, political risks as well, the st talking about the latest in this russian collusion case. president trump had asked intelligence to deny russian collusion, so dollar-yen sliding as we look ahead to the market open in tokyo, seoul, korea, and sydney. we were expecting a mixed open, the yen down five point 2%. as you mentioned, getting strong on the back of this news out of the u.k.. rising against all the majors, against the dollar, one 10.97, so a pullback from some markets, south

the latest on civil activist betty soskin. plus.acial tensions continue among students at an east bay high school. what students now claim after a new lawsuit is filed. and after the break... it's mother's day and people in the u-s are spending a record amount of money for mom. we'll reveal just how much. next. [ birds chirping ] [ inhales, exhales ] [ announcer ] cigarettes are not just dangerous when they're smoked. [ rat squeaking ] they're dangerous long after. cigarette butts are toxic. they release chemicals that poison our water... and harm wildlife. and millions... are polluting our environment. [ sniffing ] [ seagulls squawking ] for your money: here are the stories from the week -- that could impact your bottom line. ( marty ) it's mothers day and it's a time to show mom just how much she's appreciated. flower shops have been working overtime. more people purchase fresh flowers and plants for mother's day than for any other holiday except christmas and hanukkah. the national retail federation estimates that u-s customers w

if we look at betty's generation, 65% of them own their own home.n the housing ladder. at the age of 30, only 40% of his generation owns a property. so was it easier to buy a house in the 1970s? in 1974 betty was 26 and was able to buy her first home for 2.5 times her annual income. fast forward to 2016, a 30—year—old matt is struggling to buy his first home. the property will cost on average more than four times his annual income. so matt and his friends are stuck renting from private landlords. in fact over his lifetime, matt will spend on average £44,000 more on rent than betty did. and to make matters worse, he is probably paying his rent to betty! half of all rent that goes to private landlords, around £4 billion a year, goes to those over 60. the effect of this is a two thirds of the aggregate wealth created since 2007 went to betty and her generation while wealth for matt and those aged 16 to 34 has fallen. let's start this section with a quick show of hands, this will be interesting, on the younger side of the room, how many people already o

betty: you mentioned china.s concerns about china in terms of are they going to slow down -- are they protective of their own markets. what is the potential bearing china specifically? david: we are very optimistic about china. we have had a good experience there for all the years we have been there. the last quarter, and at the end of last year, china has really exceeded expectations. there are people that still rate.ed to the 10% number.pretty good we are optimistic. exports are important for your business. there has been talk from the white house about protectionism. at first he said he wanted to scrap nafta, and when he looked closer, said he wanted renegotiate nafta. what you think needs to change? david: what i agree with the president on his we think nafta should be modernized. it has worked well. it is 25 years old. nafta started, no one even knew what e-commerce was. to modernize it, which we felt tpp had a possibility of doing, but to hear the three leaders of the three north american countries talk ab

betty: like a little flag.ultimately gets resolved over the broader term, my instincts tell me trump likes to build. he wants to spend. it would be inherently inflationary and so forth. it will not be easy because even without that quote, he has to spend more than he spends in strongs and negotiate a group of fiscal hawks. yvonne: and in asia, we are watching a possible relief and commodities that we saw on friday. the bleeding has been stopped for now, but a large part of the debate has been the agenda to find demand, or if there is a question on the inflation trend moving forward. i want to talk with a chart that speaks of this. you look at the index go, it gdp goes ashere the well. you look at trade numbers out of china later on this morning, if it is the latter, are we in for more weakness ahead? is this a debt cap balance? question,hat is a key something i have been focused on. the rebalance story is getting more and more nuanced, and what we have been seeing last few weeks here is the euro is the reflatio

betty in virginia beach, democrat, good morning to you, betty. go ahead. caller: yes, good morning. and i can see representative himes' lips moving but i can't hear what he's saying. host: are you being sarcastic, betty? caller: i am not a sarcastic person. host: do you have a question and a comment? caller: i just wanted to make sure i could hear you and you can hear me. i am originally from sandy hook, connecticut. d -- the connecticut representatives and senators are doing a great job. and we have two good senators down here. anyway, my question is, number one, whether it sounds unfair or not, i really hope and pray that this investigation leads to trump's impeachment and conviction and i don't think that that's going to happen very fast. i understand that. but also, because even if there was no russian investigation, if russia had never happened, i think that there's other things that he does -- and i'm not a lawyer. i'm a plain old person. that are conflicts of interest between all these businesses he has and overseas businesses and his family is in the white house and -- host:

>> 75. >> who isn't in love with betty white, right? >> everybody loves betty. and they play former lovers from back in the day, who reunite in las vegas. anything can happen in las vegas. >> bernie? >> bernice! you look fantastic! >> oh, i'm not bernice. >> over here, bernie. >> oh, thank goodness. i never could have handled that. >> you do not want to miss the rest. >> bye, everybody. now at eight...a special needs student beaten on a school playground ... the video posted online.tonight we talk to the victim's mother, a story you'll see only on kron four.whooshcoming in just over twelve hours ... an accused killer learns his fate. antolin garcia-torres will hear the jury's verdict in the sierra lamar murder trial. whooshas soon as the doors opened, a mob came in .... beaten and robbed on a bart train ... now he's pointing the finger at bart personnel. whooshheavily damaged in the winter floods ... highway 37 needs millions of dollars in repairs.so where will that money come from?north bay commuters may not like the answer.you're watching kron four news in pri

>> 75. >> who isn't in love with betty white, right? >> everybody loves betty.dy loves carl. and they play former lovers from back in the day, who reunite in las vegas. anything can happen in las vegas. >> bernie? >> bernice! you look fantastic! >> oh, i'm not bernice. >> over here, bernie. >> oh, thank goodness. i never could have handled that. >> you do not want to miss the rest. >> bye, everybody. attracting ev-5 investment is routine, but these days, there is nothing routine about the kushner name or the closeness to the white house. >> we're back in just a moment.

>> 75. >> who isn't in love with betty white, right? >> everybody loves betty.nd they play former lovers from back in the day, who reunite in las vegas. anything can happen in las vegas. >> bernie? >> bernice! you look fantastic! >> oh, i'm not bernice. >> over here, bernie. >> oh, thank goodness. i never could have handled that. >> you do not want to miss the rest. >> bye, everybody. >>> "the insider", tracking the biggest stories making news today. >> are you going to host this? please tell me yes. >> this is "american idol." here we go. whatever you want. >> number one, kelly grills ryan for "idol" answers as mr. and mrs. seacrest share what they know about their son's rumored return. >> he is superman. >>> then, mtv's movie and tv awards is a night full of female firsts. >> emma watson, "beauty and the beast." >> as the wild weather forces a red carpet shutdown. it is hailing! >>> and number three. how did kim kardashian's kids help kathy griffin out of a bind? >> i need two babies right now. she was like, i'm on it. >>> plus, your "insider" bonus

meet betty boomer and millennial matt. betty's over 60.millennial matt is under 30. he doesn't remember a time before wireless internet. he paid university top—up fees and graduated during the financial crisis. betty is part of a generation who hold more wealth than the entire population under the age of 45. a group which is more than twice their size. but who is getting more from the state? matt or betty? let's take health. the government has increased the health budget. you might think that this benefits everyone. but two fifths of nhs spending is spent on those over 65. an 85—year—old betty will cost the nhs seven times more than matt. unfortunately for matt, it isn't just that the government is spending different amounts on different parts of the state. it is also protecting policies which betty will overwhelmingly benefit from. the triple lock, which is designed to make sure pensions continue to rise and betty's benefits have been protected by successive governments. in fact, there has been an 8.1% rise in pension benefits since 2007—

>> 75. >> who isn't in love with betty white, right? >> everybody loves betty.dy loves carl. and they play former lovers from back in the day, who reunite in las vegas. anything can happen in las vegas. >> bernie? >> bernice! you look fantastic! >> oh, i'm not bernice. >> over here, bernie. >> oh, thank goodness. i never could have handled that. >> you do not want to miss the rest. >> bye, everybody. introducing the fios gigabit connection with download speeds up to 940 megs that are 20x faster and more powerful than most people have. incredibly, it's $79.99 a month for one year. comcast charges you $89.99 for a triple play that only offers 200 mgs speeds. switch to the most powerful internet at the most revolutionary price. get fios gigabit connection for $79.99 a month and we'll give you tv, hbo for one year and multi-room dvr service for 2 years all with a 2 year agreement. so act fast. go to fiosgigabit.com they also know you need to getg your annual check-up. now with one touch using the mycigna app you can find a doctor in your plan's network to save money

betty: this is the $1 million question.bs growth we are seeing, why isn't it translating into inflation? one thing that is going , wages are growing up shortly. -- slowly. i think the other factor is if you look at economy, the margins are going down. so the economy will pass on the increases through higher inflation. margins. accept profit economy wide, profit margins are falling. the company will say we cannot accept this, we have to push through price rises. when that have you get more traction in the inflation numbers. so far it has been surprising. go,ne: before we let you i'd ask you about china not just with the moody's downgraded but also the pboc confirming they will be tweaking the renminbi exchange rate. do you think that will change how the market views what determined where it will go? what was the rationale? richard: i don't know what the rationale was, but i am not sure what the market thinks they will get out of the authorities. it has been clear the election in the u.s. they have been and theg the dollar ba

kpix5's betty yu is in san jose tonight. betty? >> reporter: liz, the hacienda magnet school was the first to report cases on may 4. since then, the district hads been busy notifying parents via calls, letters and e-mails of this outbreak. tonight, cleaning crews are scrubbing down nearly every inch of classrooms and playgrounds at hacienda environmental science magnet school. one of ten in san jose reporting an outbreak of the stomach flu believed to be caused by norovirus. though the virus is common, this is an unusual high number of cases for santa clara county. >> which is also known as winter vomiting disease. some people call it that because that tendings to be the season that it comes around. is when it is colder. and so, for whatever reason, there is more of it now. >> reporter: and it is easily spread. especially among young children. >> after going to the bathroom, if the person doesn't wash their hands with soap and water, vigorously, they might still have some virus left on their hands and when they touch someone else o

more on civil activist betty soskin... (jr stone) plus...wo california law enforcement officials die in fiery car crash this morning... we'll tell you what happened... (lawrence karnow) and windy saturday for the weekend... i'l tell you what to expect for mother's day (jr stone) and don't forgot... we here at kron4 love our moms and we want to see your fabulous moms too! send us a photo of all the moms in your life and we'll feature them in our mother's day gallery online and on air. here are some pictures that were sent to us.... send pictures by downloading the kron4 news mobile app and clicking on the "report it!" tab. [ birds chirping ] [ inhales, exhales ] [ announcer ] cigarettes are not just dangerous when they're smoked. [ rat squeaking ] they're dangerous long after. cigarette butts are toxic. they release chemicals that poison our water... and harm wildlife. and millions... are polluting our environment. [ sniffing ] [ seagulls squawking ] (jr stone) now covering california. a stanislaus county sheriff's deputy and a community serv

civil rights activist betty reid soskin was awarded an honorary doctorate from mills college.he never attended school here, but she passed by it often as a young girl growing up in oakland. the college says it is honoring betty for the lifetime of work she's done on behalf of women and the african american community. betty is also the oldest park ranger for the national park service and says she's touched by the acknowledgement.betty reid soskin/honoree- 'this is a fullfilment of a whole lifetime." in oakland, philippe djegal, kron four news. (jr stone) coming up.... it was mostly sunny but windy today... but how about mother's day? meteorologist lawrence karnow is back with your complete forecast. lawrence karnow: the winds whipped around the bay area today especially near the coast. it continues to howl at the beaches where you might even see some blowing sand along the great highway. highs today were running about 5 to 12 degrees below normal. skies right now are mostly clear and will likely stay that way all night. but the winds are still blustery so grab a jacket if you'r

betty says this honorary doctor of arts and letters degree... nats- crowd cheers.ranks right up there with that coin. elizabeth hillman/president- "given at mills college in the state of california, on the 13th day of may in the year of 2017."betty reid soskin/honoree - "to have lived into an age, to be affirmed in this way, by mills college -- you have no idea what that means." so gracious -- so eloquent... a shinning example for the young people here with a lifetime ahead...nats- confetti and, big shoes to fill. in oakland, philippe djegal, kron four news. (jr) turning to weather now, you're looking live at the golden gate bridge right now... as the sun is setting this saturday meteorologist lawrence karnow has our forecast. lawrence karnow: the winds whipped around the bay area today especially near the coast. it continues to howl at the beaches where you might even see some blowing sand along the great highway. highs today were running about 5 to 12 degrees below normal. skies right now are mostly clear and will likely stay that way all night. if you're going o

betty shelby murdered my brother. >> reporter: betty jo shelby took the witness stand in her own defense. she thought he was on pcp and thought he would kill her. she told "60 minutes" she prayed she would not have to use legal force. >> i'm feeling his intent to do me harm. i kept thinking, please don't do this, please don't make this happen. >> no justice, no peace! >> reporter: a small group of protesters outside the courthouse said they were upset with the verdict. >> i'm flabbergasted. i'm speechless, man. >> reporter: shelby remains on unpaid leave from the police department. don champion, cbs news. >>> we received word overnight that groundbreaking rock singer chris cornell has died. ♪ >> his representative said cornell died last night in detroit. the death was called sudden and unexpected. cornell was the lead singer of soundgarden which was at the forefront of the grunge movement in the '90s, and later he was the singer for audioslave. the cause of his death is being determined. cornell was 52. >>> coming up on the "morning news" now, he's hired. a controversial sheriff takes a

and with betty smith and her family. for friends and families. why not whip up a recipe from patti's cookbook, "desserts labelle." tell me what we're doing. this is one of my favorites. >> we're going to over here. we're going to mix that. >> okay. >> turn it on, somebody. >> here. there you go. >> there it is. then, we're going to add the egg. >> how many? >> you're going to add two eggs. >> okay. >> okay. then, you're going to add the vanilla. >> you're going to do all of the liquid and moist ingredients first. >> yes. >> okay. >> then, we add the shortening. >> flower. >> what do you use? >> i tell you what kind later. i use flour. and baking powder. >> okay. >> making soda. >> and a shifter? >> yes. >> and shift it all in at the same time. >> okay, betty. you do this. >> okay. >> this is going to be unsweetened cocoa that you put in to make it that reddish color. >> and you're making two bowls of batter for a reason here. >> uh-huh. >> one bowl is with the beautiful - and then, this is the food coloring. so, this wil

i think it's going to be great. >> reporter: i think so, too. >> betty yu in san jose, thanks, betty. tomorrow is a big day for a napa winery rocked by the 2014 earthquake. the vineyards' barn shifted four feet to the west and leaned like the tower of pisa. the building is more than 100 years old and at the time it was built it had some of the most technologically advanced wine making structures. so renovating it was an important endeavour to the community. it now plans to open to the public tomorrow for the first time in years. but getting it back to its original glory was not easy. >> we shored it up just to stop it from falling and then we really went about a research project to learn more about how the building was originally built, how we could push it back up and then reinforce it with a new seismic retrofit bringing it up to modern construction standards while keeping the historic integrity. >> the vineyard had tastings in tents while the building was being restored but they are happy to have a roof over the wines. >>> napa police had a mess after someone told a squad car from

tonight betty yu and her photographer set sail to find out why so manufacture the marine beasts -- so many of the marine beasts have been spotted so close to shore. >> reporter: they came up close, splashed around and swam within 40 yards of our whale watching tour boat. these remarkable sightings have become a regular occurrence, particularly in the last month no knowledge ray bay. our -- in monterey bay. our first came within 10 minutes heading out of the harbor. >> it's really powerful to be so close to such a large animal. >> reporter: marine biologists and owner of sanctuary cruises doris welch has studied whales more than 20 years. >> things are really increasing as far as whale activity goes here out of moss landing. in the last month we have had a significant increase in the number of whale sightings and consistency. >> reporter: here is an example. right now you can see three humpback whales blowing and diving back into the water. we are only less than a mile from shore. in fact, right outside of the harbor mouth in moss landing. >> this year we've had a lot of strong winds a

kpix's betty yu is in santa cruz to explain. >> reporter: the man accused of murdering someone in the volleyball courts over the weekend is known in the community to sleep along the sea wall. but decades earlier he was more known as a surfing legend. kevin reed was the first to conquer aerials in the surfing world back in the 70s. one of his maneuvers landed him on the cover of surfing magazine in 1975. >> [ indiscernible ] >> reporter: and that was kevin in a documentary. the west siders, a few years ago. but this past weekend the 58-year-old ended up behind bars, arrested for a homicide for killing another homeless man. he had admitted to choking the victim to investigators. >> these two individuals were known to each other, this altercation over a very specific to the two of them. >> reporter: but today the santa cruz da says careful review and autopsy findings determined there is not enough evidence to charge kevin who is now known as kevin callahan, he's now out of jail. >> he's not an aggressive personality, he wouldn't go looking for a fight. >> reporter: pro susher and owner o

a lawyer for betty jo shelby was elated. terence crutcher's family was outraged and said she got away with murder. >> reporte oklahoma, found officer betty jo shelby not guilty per the shooting death of 40-year-old terence crutcher last september. shelby shot crutcher on a city street after his suv stalled. she told police she thought he was reaching for a gun when she fired the fatal shots. the father of four was unarm and no gun was found in the vehicle. crutcher was never a threat. he was walking away from her with his hands up. >> terrance was not an imminent talent. terrance did not charge at her. terrance was not the aggressive. betty shelby killed my brother. >> reporter: she took her own defense. she told "60 minutes" she sprayed she would not have to use legal force. >> i'm me harm. i kept thinking, please don't do this, please don't make this happen. >> reporter: a small group of protesters outside the courthouse said they were upset with the verdict. >> i'm flabbergasted. i'm speechless, man. >> reporter: shelby r