connell mcshane has the story in a moment.ny in seattle helping with recovery efforts 24 turkey after the devastating earthquakes and we'll talk to the owner of brink. that's a drone company. what can his drones do that others can't? by the way, this owner is 23 years old. we'll be back. ♪ ♪ ♪ get $1500 purchase allowance on a 2023 cadillac xt5 and xt6. ♪ visit your local cadillac dealer today. these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today. stuart: going to quickly show you the market. we're up now 150 points on the dough, modest rally and that's nasdaq up 76 and by the way, americ

connell mcshane with us. had to wait to get hearing, republicans holding it up on concerns about his background. as it gets underweight is clear senator ted cruz is the one leading the opposition. the ranking republican on the senate commerce and he called for the committee to slow the nomination even further with new allegations against washington. a lawsuit alleged discriminatory and retaliatory actions at the denver international airport and ted cruz adding to that with this. >> congress mandated the faa administrator must, quote, have experience in a field related to aviation. phil washington had a long and honorable career. he does not have experience in aviation safety. this is simply a position he's not qualified for. >> it is more than the lawsuit and a whistleblower complaint at la metro which is part of a water corruption investigation and the senator's point, the work experience question. only at the airport in denver, a year and 1/2, before the denver regional transportation district for 20 years

connell mcshane is with us. that's a massive number. it down for us. >> real story is about half is in a few months and it's picked up the line and meta talking about any economic reality and sales force, explicitly said what everybody knows and hired too many people leading to the economic downturn we're facing and bringing up growing list of tech sector layoff and reads like a who's who of silicon valley and going on throughout the list and the story that's been kind of developing over time has again to reiterate the point has really taken off in recent weeks and nearly 150,000 tech layoffs so far just in 2023. we're only in march right now. that does bring us to the total number of last year to well over 300,000. amazon explaining the thinking that i'm writing to share we eliminate about 9,000 more positions in the last few weeks and it's certain the economy 24 which we reside and uncertainty there's a little over 1% yesterday when the news came out as the quote we just talked about from andy. when the news came out and now it's gain

want to go to connell mcshane, our chief national correspondent. sam bankman-fried more problems, more issues coming up, potentially more jail time. connell what is going on there? >> reporter: anytime you have to add bribing chinese government officials to a list of allegations you're already facing you're probably not having a very good day for yourself but such is life for sam bankman-fried here in new york. he pleaded not guilty short time ago to five new charges at all. these bribery allegations were among the charges. we saw him as he was making his way through the photographers into the courthouse in lower manhattan earlier today. becoming a semiregular occurrence last few months here in new york. we know he entered the not guilty plea once he was inside through his lawyer marc cohen. if you look at it. sbf is accused of paying a 40 million-dollar bribe to these chinese government officials. prosecutors say the purpose of the bribe so officials would unfreeze a billion dollars in crypto from his hedge fund. all together with everything else h

the latest from connell mcshane following it all. connell? >> the word from the swiss authorities helped out. fear is back in the financial markets with the banking turmoil that we've been talking about spreading, spreading to europe with credit suisse which is a bank more than double the size of silicon valley bank. something a guest of yours saw coming earlier this week. >> the problem is the bond market. and my prediction, i called lehman brothers years ago. and i think the next bank to go is credit suisse. if that happens -- >> neil: because of its exposure to a lot of this? >> yes. because the bond market is crashing. >> and to robert's point, these problems at credit suisse have not new. investors have known about their difficulty in restructuring in years. now talks have gotten underway on ways to stabilize the bank. late in the bay we had word from the swiss national bank that they will provide liquid duty if needed. saudi arabia is the largest shareholder in the bank. they said they wouldn't put money in right now and stocks sold off

we go live to connell mcshane outside the new york courthouse where sbf, as we call him, was seen earlierd he look, connell? >> reporter: well, about the same as he always looks, lauren, the dark do suit, the dark tie and the white shirt as it comes out that for showing up at these court appearances. he was seen here, not seen for very long, was in and out. an appearance in new york, pleaded not guilty, on his way back to california, home confinement at his parents' home. you're looking at the scene as sbf arrived in new york earlier today. always so chaotic when he gets out of suv with the photographers waiting, just has to fight his way into the courthouse. and once he was many there, like i said, it was quick. the hearing took only about 20 the minutes, he entered the guilty plea via his lawyer, mark cohen who, by the way, is challenging these new charges because they're arguing the charges were inappropriately filed, improperly filed because they weren't approved by the authorities in the bahamas before sbp was that extra kited from there. -- extra dieted from there. accused of bribin

connell mcshane fox business new data shows. cash strapped americans are raiding their retirement funds prematurely, according to data from voya. financial retirement people without enough savings are 13 times more likely to choose this option despite the potential tax penalties for early withdrawal, financial experts say, taking out any amount of money before its time will only hurt you. in the end, a record number of cash removals were hardship withdrawals to help with emergencies, including medical care or possible evictions, but it's not just those in need who are dipping into those accounts. the data shows about 40% of people who leave jobs took some, if not all of the money out, instead of rolling it over into a new plan. it's basically like you've been working for this some company for in our data on average 6.6 years, contributing to your employer's been contributing. and now you're back at square zero. no other part of the world allows you to cash in cash out when you're when you're leaving a job, according to fidelity

connell mcshane explains the global implications the problem is the bond market and my production. know, i called lehman brothers years ago, and i think the next bank to go as credit suisse growing fears on wall street, this prediction could come true after shares of credit suisse plunged on wednesday, shares tumbling after the bank's largest investor, the saudi national bank, announced it would no longer buy more shares due to regulatory limits . this prompted a sell off that at one point, so credit suisse losing more than a quarter of its value, which eventually led to a pause and trading in the swiss market drops sent shares of other european banks tumbling some by double digits. credit suisse wants is going to fail. let it fail. i mean, my whole point is, we should have let silicon valley bank failed. signature bank failed. the banking crisis comes just days after the collapse of silicon valley bank and signature bank here in the united states. both banks were shut down over the weekend, with the federal government unveiling a plan that protected depositors. the turmoil has pro

connell mcshane's outside the courthouse. ase, connell. >> reporter: yeah, serious stuff on the top of everything else. as you say, bribery-related charges and the jail time, when you add everything up, that that sam bankman-fried is facing now is really starting to add up. by our count we're up to 160 years, the possibility of 160 years behind bars for sbf. now, let's put up -- and you're look now at these charges, these new ones. accusations that he paid a $40 million bribe to chinese government officials. now, prosecutors say the purpose of that was so so they would unfreeze a billion dollars in crypto that was in his hedge fund. so that would be a violation of federal anti-corruption law. altogether, bottom of the screen, you're up to a 13-count indictment stemming from the collapse of ftx in november. that's why he's back here in new york or will be this morning, we're waiting for him at the courthouse. about an hour from now, 11 a.m. ian time, is when he'll be making the appearance and hear about these new charges from u

connell mcshane joins us from new york. >> we have seen concerns about regional banks in the united statesrating over to europe. and those concerns certainly hit credit suisse today which is more than double the size of silicon valley bank. in fact, it's the second largest swiss bank right behind u.b.s. the stock price declined ever than it had before with multiple reports suggesting the swiss government is holding talks on way to stabilize it. might even provide little at this if needed. the saudi national bank shareholder said it would not be increasing stake beyond 10% mostly because of concerns about regulation. that comment enough not only to send the credit suisse stock tumbling but earlier in the day the global stock market as well the motions take over everyone says they're a good long term investor until the market goes down. can i get out? do i have to pull me money out? emotions take over. this is about confidence. it's not the facts on the ground. >> meantime the blackrock ceo larry fink influential voice in the markets. released a letter to shareholders the silicon valley bank

me like a lot of colleges are dropping out of them because of wokism and conner mcshane is on the story. am i right, connells like diversity and equity and if that fits your definition, that's a big part of it. what u.s. news is doing and pushing back on all this and it's a big part of their business. and they've written a letter to education secretary and saying he should call on the universities to provide open access to all of under graduate and access data and spoke to the ceo expanding in the interview, take a listen. >> we'd like to see more financial information about schools >> we would like to get admissions data and who are the schools admitting. i think students would like to know that too. that's the most opaque part of the entire process. >> comes after more than 40 law schools, yale and stanford among them and over a dozen medical schools, many would call elite and harvard on the list and said in recent months stop providing this data for the rankings and what the schools will say is the method is somehow flawed and leans too heavily on things like test scores and outcomes and not enough on th