both brian chu and i were there last week. if we're going to enact this legislation and make existing nonprofits that they're working with, and now would the mechanics of transition work because it says must issue an rfp, and then they'll go through the process of designating a district manager. >> supervisor ronen: sure. again, there's never been a process before delineated, so they would all look a little different. so we want -- we want there to be a point person, whether it's an executive director or administrator for every different cultural district because often without a staffer whose full-time job in the community is concentrating, then things aren't able to thrive in the same way? and so that is prescribed in the legislation. but the way in which the decision making bodies work around funding and around, you know, prioritization of projects is going to differ. in an original version of the legislation, there was a time where we thought, and i still think this somewhat, that there should be a c.a.c. for every single c

i want to thank brian chu for helping us collaborate with many departments to strengthen the legislation. a huge thanks to the cultural district organizers who provided input and are active in protecting their vulnerable communities every day. and lastly, thank you so much to my colleagues who have co-sponsored this legislation, particularly supervisor cohen who was my lead co-sponsor from the beginning and supervisors kim, fewer, sheehy, sa fany and safai. i look forward with protecting the unique identity of san francisco. and colleagues, i just have one small amendment that i passed out to you. i'd like to make a motion to adopt those changes. >>> supervisor ronen has made a motion to amend. without objection, the amendment passes. supervisor kim? >>> i also want to thank supervisor ronen's office for all of your work on this ordnance. it took almost half a year if not a little bit longer. and i'm also happy to be a co-sponsor of this ordnance. my district includes three of the cultural districts that are mentioned in this ordnance, including the lgbtq cultural districts. these cultur

brian chu, director of community development, mayor's office. and i think you have paper copies of the power point available in front of you. so supervisor ronen has given an excellent overview of the genesis of the process. our office has been working closely with offices of work force and economic development with the arts department, public works, human rights commission and other departments to come together to see how it can most effectively collaborate on this project. as supervisor ronen stated, one of the elements of this program is to formalize the partnership between the city and the diverse communities to develop clear strategies to stabilize these communities. we want to leverage the city capacity. one of the primary purposes is to identify the existing resources that may be available for many of these vulnerable populations. they just don't know they're available to facilitate that and come up with a more formalized process for creating these districts. supervisor ronen stated they've come into pass on a somewhat piece-by-piece form

i want to thank both brian chu of the mayor's office of housing and community development, de-anna ponce dejesus for her cultural input, and the many districts that have been involved, and the leaders we have worked with in the various districts. rachel ryan with the lgbtq leather district. i also wanted to give a special thanks to supervisor cohen who is my principal cosponsor on this legislation, and a special thanks to both caroline morales for working to make this the amazing legislation that it is. so with that, i wanted to see if my colleagues had any questions or comments. >> supervisor safai: i think we'll hold questions for after public comment. >> supervisor ronen: sounds good, so i think we should open it for public comment. >> supervisor safai: any member of the public wishing to comment, please lineup on the right. so some people, it looks like they filled out cards. please come forward and begin. >> hello. my name is romeo youngquist. coming from an african american -- african immigrant artist's mother, come prosecuting the bayview, it was very difficult to find a program t

i'm seema mody >> i'm dominic chu brian sullivan is on assignment today.ll hear from him in a moment. let's check out what's happening. tens of thousands of las vegas casino workers could walk off the job. they're union voting to authorize a strike that could happen as early as june 1st >> congress voting to roll back dodd-frank era banking regulations. the legislation eases restrictions on smaller and mid-sized banks. the bill heads to president trump's desk where he is expected to sign it into law. >>> barclays has been quietly exploring a possible merger with rival banks including standard chartered, as they face pressure from an activie ifist investor. >>> 5:30 a.m. on the east coast. here's your market setup futures pointing to a lower open, the dow down 175 points. nasdaq lower by 60 s&p 500 down 18 the stocks did close yesterday as well breaking a two-day winning streak on fresh concerns around trade. >> in political news, let's talk about president trump. he says next month's high stakes sitdown with north korean president or leader kim jong-un may

chu. happy may day. brian sullivan is on assignment. let's check the early market action right now futures are pointing to what could be a fractionally lower open to start here the dow down about 58 points the s&p down by 4. the nasdaq down by 14. we'll have more on the markets in a moment. first to some big news out of the white house. president trump extending steel and aluminum tariff exemptions for many allies. let's go live to tracie potts in washington >> good morning, everyone. the eu, canada and mexico get another 30 days to try to work this out, the white house calls it a final 30 days the fed line instead of today june 1st for those countries to work out a deal to avoid those steel and aluminum tariffs the europeans are looking for a permanent exemption. the issue seems to be whether or not they will agree to quotas. south korea did. they got a permanent dieeal. the eu nations, again, the north american allies of mexico and canada, they get another month to try to figure this out or they will be hit with those steep tariffs th

. >> i'm dominic chu brian sullivan is on assignment today. >> let's check on what's leading on cnbc.come trump administration launching a national security investigation into car and truck imports, this could lead to new u.s. tariffs similar to those imposed on steel and aluminum in march. china responded it will defend its interesting. >>> deutsche bank cutting thousands of jobs. the german lender will cut the headcount from 97,000 to well below 90,000, that move will cost the company nearly $1 billion. >>> we have new numbers on uber. the ride hailing company announcing a tender offer from new and existing investors, pulling the value at $62 billion. uber also told saddam husseeas t revenues of 2$2.5 billion in th first quarter. >>> futures are slightly negative the dow jones would open down by 28 points. the s&p just about flat. the nasdaq down -- up now by 6 points on the treasury side of things, we mentioned that 3% level, very much in play for the ten-year u.s. treasury note 3.01%. taking you to the two-year, 2.53% the last trade there >> let's look at the asian equities we've see

i'm seema mody >> i'm dominic chu brian sullivan is on assignment today. futures moving lower after the dow snapped an eight-day winning streak north korea canceling a highly anticipated meeting with south korea. its threatening to pull out of the summit with president trump. the move follows joint military exercises with the u.s. and south korea. >> the iea cutting its outlook for global oil demand as crude nears 80 bucks a barrel. the agency saying iran and venezuela are quote a major challenge to the market. we'll have more on that later on in the show. >> first, let's look at early market action and bring in michael purves from wheaton & company. yesterday stocks fell about 193 points a significant move what was behind it. >> the big news yesterday was bond yields finding fresh highs. not just getting through 3%, before you gbu getting there with some vengeance. when you see that, that spills over into other asset classes, like the dollar. the dollar getting stronger and no equities as well. i think part of what's going on is that there's a regime chan

i'm dominic chu. brian at the milkin global conference, he caught up with scott minert who has a warning for your money >> you made a lot of waves with your piece that you came you the with and your subsequent interview with us on cnbc about the pos nlsibility of a drop in equities you're not saying the market also fall 40%. you're saying there's a likelihood of recession that historically or could cause that >> that's right. right now in the penultimate year before a recession, we think a recession is coming in 2020, that is typically a good year for equities. i said before that stocks will go up another 15, 20%. when recession arrives, and it will arrive, there will be a hard selloff in equities the longer the expansion that been, the harder the selloff will be. we think there will be a 40% decline once we reach the top. >> we would still have time to go this year >> that's right. i like to remind our clients, that barron von rothschild who said what is the secret to his great wealth, he said i sold early

. ♪ >>> good morning welcome to "worldwide exchange," i'm dominic chu. brianullivan is on assignment. let's check the early market action as you can see behind me, some of the futures picture points to a more mixed open. fractional gains and losses for the major indices. the dow slated to open up 2 points, the s&p by a single point. the dollar hitting at the highest level of the year. if you look at some of those moves, we are seeing a pullback from those levels. dollar weakness across the board for the major pairs. euros now, 119.78. dollar/yen, 109.64. the pound 1.3573. courtney mentioned tesla, we have spotify and square down big right now. kraft heinz a bright spot. we'll have more on all of those names coming up. >>> thank you very much. we're following a developing story out of china a u.s. trade delegation led by steven mnuchin arriving in beijing for key tariff talks let's get to eunice yoon live with the latest. >> thank you very much secretary mnuchin and his team are in meetings with the chinese after a briefing with the u.s. ambassador the team was

chu here. kevin hughes present. brian larkin? brenda mcnulty present. madame chair, you have a quorum. that are not on the agenda. >> can i have the overhead, please? well, for the rest of the audience. thank you.

chu here. kevin hughes present. brian larkin? brenda mcnulty present. madame chair, you have a quorum. that are not on the agenda. >> can i have the overhead, please? well, for the rest of the audience. thank you. good morning, my name is jerry. first, i'd like to commend controllers' office for embedding the links for the supporting documents into each meeting agenda topic on the sfgovtv website, it's both useful and insures that supporting documents are available to meeting attendees. the benchmarking report that was discussed in the april meeting, it contained useful descriptive statistics, but in the 84-page report i could only find six slides that benchmarked the financial performance of san francisco against other cities, that would allow the reader to assess the effectiveness and efficiency of city services, which is the mission of the city services auditor. the first slide was page 27 of the report which dealt with street resurfacing cost. san francisco spends $1134 per square mile. actually, san francisco's overhead cost of $242 per square mile is 80% of seattle's total cost.

here in dallas all day for you on cnbc >> lot of news coming out of that, brian sullivan thanks >>> now let's get to dominic chuh the european close. dom? >> jon, as you can see behind me here, largely positive european stocks poised to extend their weekly winning streak to six, wrapping up a busy week of earnings as well some of today's gainers, ferrari shares, better than expected quarterly results, helped along by an increase in their 12-cylinder model sales. raising guidance after posting the best quarterly results in its history. british airways parent company iag, 75% jump in their quarterly operating profits. also seized 2018 bookings over the previous year as well. those shares all up. meantime, norwegian air down sharply from the previously stated iag, saying it undervalues the discount watching those shares for sure many of the major banks falling today. hsbc, a 2 billion stock buyback, not helping the shares there french banks moving lower as trading revenues disappointed some investors banks very much in focus airline companies in focus and, of course, ferraris, morgan. back over to you. >> dom, tha

are henry chu, international editor at the us magazine variety, alex deane, a british conservative commentator, agnes poirier of the french magazine, marianne, and the irish broadcaster, brian'connell. now, ireland, once one of the most socially conservative countries in europe, has voted decisively to remove from its constitution the ban on almost all abortions. the 2:1 margin of victory to scrap the eighth amendment was much larger than anyone had predicted. brian, not only that, it was almost an exact reversal of the numbers in 1983 when the amendment was first introduced. how big a cultural change does the vote represent? it is huge. it reflects a cultural change that has taken place over three decades since the ‘83 referendum. driven by the obvious things like the catholic church, the whole child abuse scandals during that time and other things like social media, globalisation, and the way in which ireland itself has changed. it is three years since we had an equal marriage referendum which was passed with a similar sort of majority. the interesting thing about this — and we have to put in a caveat, that these are exit polls. the counting started at 9 o'clock this morn

are henry chu, international editor at the us magazine variety, alex deane, a british conservative commentator, agnes poirier of the french magazine, marianne, and the irish broadcaster, brian

chu. >> let's get more contact of today's sell-off >> brian is joining us here. good to see you >> thanks for having me. >> if you don't think there is c contagent, if you don't think global synchronized growth is an issue then it is just u.s. growth there is so many reasons here to not be in financials and the trades have not cooperated >> it is a great question and it is a broader one with respect of how active we are. why are we bringing up in argument again we had contagent in 2008 and 2009 this actually what's going on in europe and a day like today brings the mind why fundamental realities, sometimes over take consensus. consensus has been to buy europe, buy europe because it is cheap and sell america because we had this big move how does that work out so far? not so good. why? fundamentally europe continues to be a declining asset and you see volatility with respect to politics and fundamentals and in growth by the way. why do you want to be in an atmosphere like this where the fundamentalties going back to the financials dividend growth is the stronkget i