dudley is? >> i suspect he is extremely worried. he has a right to be worried.nnoyed that we're having this morning an overreaction. let's put this in context. the it is important but it is a couple of paragraphs in a couple of pages of a shopping list of risks to which b.p. draws investors' attention every quarter. it is right to highlight that. it is a risk but not every risk comes through. on a day-to-day basis we're not seeing anything in numbers that that suggests an impact on the number of rosneft. the results have been better than expected. oil companies are uses to dealing with political risks at a very high level. will he be unworried about this snop no. absolutely not. the to us is is pretty intense in this business. b.p. intends its production has big exposure to russia. russian volumes are around 25% of total prauks but actually what really counts in our view is the cash and the cash is only 3% of b.p.'s operating cash. they have just received $690 million which is last year's dividends out of rosneft. that was received i think this month. it would b

bob dudley will give a press conference this morning at 10:30 a.m.nd declined our interview and will not hold that against home. i am still waiting to speak with you. lots of questions for bob dudley. all of them be about rose net. >> it is ahead of the ftse. oil companies are trading 13 times. >> relative. >> very good. a picture from a london. openy markets are set to quite high. and miserable day? >> did it rain? >> it rained last night. we have to get some color into the camera. ♪ >> welcome back. will talk about her love of super graph. >> i do love them. like them. jon is here for sonata ruminants. to talk about the big macro things. >> you have bp. the market is edging. is theother side, this unknown. you have merkel and cameron and renzi all getting together. it will be a conference yesterday. they are talking about possible sanctions. ryan and i were talking about it. what was yesterday about? was a obama saying to these guys you have to sort it out? was it them trying to get around the table and saying we need to talk? g7 getting together s

. >> dudley moore. >> dudley moore was arthur. that was popular movie.ho was his girlfriends in that movie? >> that would have been julie julie -- >> that's right well, anyway, middle beach south carolina. >> later today, here there is location we expect 45-mile per hour winds, under tropical storm warning. further up the coast, north carolina, they'll probably get the direct hit from the storm, because it is moving due north. it is what happens after that, that is significant to the delaware valley of course, the jerry shore, delaware beaches, the holiday weekends all of those people, can i not emphasize it enough, saying it here, i know they are saying it up north, rip current, rip currents, rip currents. thank you so much, sue! >> see the wind knocking her hair out there, too. >> looking in the monitor in the news room yesterday, saw two tour bus us burst into flames, skyfox was over it, turns out, chris murphy, for nerve, the group for nerve, and sticks, performing at the -- >> camden. >> susquehanna center in camden? >> right. >> they park their bus

>> i have to say to the honorable gentleman if you looks at the figures for dudley north he will find the claimant count is down by 20% in the last year. people find the you've claimant count is down by 21% in the last year. the long-term you've claimant count is down a 28% in the last year. the fact is in the west midlands things are getting better, more people in work, more jobs being created. he should be celebrating a dudley rather than running it down. >> and prime minister will be a winner of the tragic death of my three year-old constituent sam morris concept is while under nhs care. he was failed by his gps, services, the hospital, primary care and the ombuds been. this must not happen again. will be prime minister a sure that the ombuds bound recordation are implemented in full and that the system of review within the nhs and but ombuds bound are radically overhauled to deliver proper transparency and accountability in a timely way? this family waited two years for justice. >> i -- the honorable lady is right to raise this tragic case but all of our dots should be with sam's

dudley at bp is paying a great deal of attention to the story. to the markets and jonathan ferro. minutes intoand 30 the market session in london. we are off session lows. the dax is dead flat. we are looking to sell a medical unit. the index is outperforming the rest of the indexes around europe. it is a big week for your and the u.s.. let me show you an area of the market that speaks to the week it is coming. german yields at just over 1%. you see the u.s. yield over double that. wet is the biggest frame him have seen since the late 1990's. don't just take this on face value. the ecb is talking about doing more. you have the federal reserve that takes things month by month. will that be in the statement from the federal reserve this wednesday? that is when they are looking to hike rates? look at low in placement in europe. i'm am expecting to get that on thursday. inflation is taking higher in the united states. comes out on friday. have a look for that. maybe janet yellen can't ignore that. you are seeing payrolls on friday. dollar is at a fiv

well the tone of muddy and so on president to dudley and devastating we know that the multiple rocket launcher known as overhead was followed by multiple pictures received from the ground show gymnastic devastation we can see clearly that that residential area was targeted and we're also hearing reports that the towns open and we're all so great many already compare these scenes with the balance of the feet tall beautiful ukrainian army in months with cold it's anti terror of the race should all these happening outside the nets give the eastern ukraine has now become a major battleground off to become a tourist surrender meanwhile we hear from the operation commanders in kiev that the friday they managed to kill a wrong one thousand and two government parties will lose it it didn't provide any information any further detail on when or how it happened and we heard from the president for the british that quotation for every ukrainian soldier the militants will pay with scores and hundreds over the road this information though was not confirmed by the end to government forces themselves

in that sense, he echoes comments by bill dudley.s would not end the need for the biggest bailouts, pointing out that the other was a result of smaller banks. too big to fail premium as has declined since the financial crisis, something he puts to the results of the dodd/frank regulations. too big to fail, however, is down due to financial regulatory reform. he also says that it raises questions, though, about the role of too big to fail in the financial crisis. he's not entirely sure it was the reason for it, but he supports rules that make bigger banks hold more capital, kelly. again, no comments yet. we'll be awaiting those to see where stan phifischer stands relative to janet yellen. always an issue with bringing in a big guy like stan fischer and wondering whether or not he'll have the same views as janet yellen. >> plenty of speculation on that. steve, stay with us. we have greg ip along with our panel. greg, he's emphasizing financial stability here, and while that's not specifically monetary policy, it is in some way. what do

we heard some indications from danielle and and president dudley that they might not change their investment policy as early as people expected. there were some four warnings of this, but today, we heard that the fed was going to wait until the point of raising rates before would stop reinvesting into securities. that means more liquidity for the market. as i think that is a very interesting point, but it also sets us up for some future risks . 2015 could be very interesting. >> for whom? but alsolders, potentially for stockholders. not only do we get most likely the first rate increase. prior to this point, we were not talking about reducing the -- reinvestment. once the reinvestment stops, it could be a pretty significant amount and mortgage backed securities that and do not get purchased by the federal reserve. one thing to keep an eye on. >> we're going to count on you to do so. thank you very much, anastasia. my things also to boomer's josh wright. if congress does not act soon, rhoda bristol construction could grind to a whole. the highway trust fund pays for infrastructure projects. t

>> i have to say to the honorable gentleman if you looks at the figures for dudley north he will find the claimant count is down by 20% in the last year. people find the you've claimant count is down by 21% in the last year. the long-term you've claimant count is down a 28% in the last year. the fact is in the west midlands things are getting better, more people in work, more jobs being created. he should be celebrating a dudley rather than running it down. >> and prime minister will be a winner of the tragic death of my three year-old constituent sam morris concept is while under nhs care. he was failed by his gps, services, the hospital, primary care and the ombuds been. this must not happen again. will be prime minister a sure that the ombuds bound recordation are implemented in full and that the system of review within the nhs and but ombuds bound are radically overhauled to deliver proper transparency and accountability in a timely way? this family waited two years for justice. >> i -- the honorable lady is right to raise this tragic case but all of our dots should be with sam's

dudley, the vice president of bp. one year ago, now you are back. welcome to "mad money." the straight shooter from the oil industry, everyone knows that, i will quote from what you said right at the quarter. any future erosion of ross net or the impact of further economic sanctions could adversely impact our business and strategic objectives in russia. the level of income. production and reserves in russia have had a reputation. you basically laid it on the line. >> it's the right thing to do. a little overstated. >> why should i own the stock when you basically said, look, it's the kit and caboodleing here? >> we got to layout all the quarter, part of the long list of risks, we have to be open about it. >> have you spoken to putin? >> not lately. >> to ross net? >> not lately. but the relationship is good and -- we're in this business. we got to pay the dividend $700 million last tuesday. with rea very long-term business. we will be in this business four years. we have make decisions, big bets for 30 or 40 years. we saw that and we have a position in this oil project. >>

. >> can bob dudley's company handle the geopolitical heat? >> that's a part of the gas business.e work if parts of the year a lot of people wouldn't go in. we go in and haven't missed a day of production in egypt or since we were if iraq. bill contributions from countries which we went into really in the middle of civil war so that's a part of the oil and gas business. >> plus, cramer will ask whether or not the ceo has spoken to putin, himself, find out what he has to say about that at the top of the hour. it's not just bp, total has exposure finally on its conference call. it acknowledged it is not any longer going to put any more ontario into novtek. >> you have to be careful of these names, there will be taped bonds coming out. few want to play the oil space, i would go with some paul sankey mentioned, valero. vlo, that will help the spread of wti and brent better for them. >> a beautiful day for mpc. that was a huge run. >> i will switch gears and go to sheniere. if you want to play it, sheniere were the first once to markets with exports offshore here going to europe. so i

>> katrina dudley. >> the dudley families. the dudleys. let's check your weather.nch by inch. never get tired of that. wgrz buffalo. we've got showers today. then sunshine on friday. we're looking at heavy thunderstorms making their way into the central plains from wichita down into oklahoma city. a lot of wet weather right through the day today. flood watches in effect today for much of oklahoma and on into the central rockies. wet weather also through the great lakes. central and southern florida. lots of sunshine in the northeast. carson daly signing some autographs for his fans. that's what's going on around th >>> 8:06. you made it to wednesday. as we head throughout the day today, lots of sunshine coming in across the south bay. that's going to bring your temperature up to about 90 degrees. still, it will feel warmer, temperature wise out there, but i've got to tell you, we're going to shave about half as much humidity off of your forecast for today that we had to deal with yesterday. so not as impressive out there. 84 degrees along the peninsula, and we are

just because it's called arthur which is like the dudley moore character from the movie doesn't mean it's going to bumble through. it is a hurricane. it can do a tremendous amount of damage. people have to go through the checklists to do the things that are necessary to not only protect their home prorks tect their property, to have a plan in place so that if they have to evacuate they'd know where they are going. they have emergency money. all of the different things they need to have and get those things ready now. not like, you know, and to do it for the entire season because this mad rush that people do every year, every time you see a hurricane, running into the stores and clearing off the shelves. the zombie apocalypse stuff. they are watching too much zombie apocalypse shows. they are supposed to plan and do this when there is no hurricane. june 1st is the beginning of hurricane season. it's going to be all year long. people need to take this time not only to plan for this storm but to plan for the entire season instead of like, it's over now. it's back to partying. >> no one

. >> spectators are quickly escorted out of the courtroom in dudley, massachusetts. court officers tackle the 50-year-old dad, clifford margalia, keeping him away from the suspect, deric allen. according to police reports, on december 16th, 2006 at 2:00 a.m., allen breaks a window to get into the house. >> i was scared. i didn't know what to do. and i had my child in the house, so -- and she was away from me. >> 21-year-old melissa margalia sees it on her baby monitor and makes a desperate 911 call. >> help, somebody's in my house. i have a baby downstairs. >> we got a child downstairs and she's upstairs. >> the intruder reaches melissa's bedroom as she continues on the phone. >> they're going up the stairs. melissa, stay on the line with me, okay? do you hear police? [ screaming ] >> you got to get in there! >> police! >> i have a baby in the house. i have a baby in the house. please don't hurt me! please don't hurt me! >> get off that bed! get off that bed right now! >> he has a knife! >> police catch deric allen. melissa and her baby daughter are both safe. >> she

. >>> as the fourth of july weekend is approaching, so is tropical storm dudley moore -- i mean tropical storm arthur swirling around fleas southeast coast. hurricane watch is now in effect for parts of the north carolina coast. here's a look at the first named storm of the atlantic hurricane season. vacationers all along the eastern seaboard are watching arthur, which is predicted to become a hurricane by thursday. the question is, does it actually touch land. joining me for the latest on the storm track is our friend, bill karins, mr. meteorologist sitting up there in new york. >> arthur doesn't sound very scary, does it? >> no, it doesn't. you figure it's a storm that's probably a little drunk, doesn't know which way it's going, is it going to stumble into the coast or is it going to stumble out to sea. so what do you say, bill? >> that's a pretty good way of summing this storm up. hopefully it won't do too many wobbles out there. the forecast path looks pretty straightforward. the biggest question is in the next 48 hours how strong can the storm get before it gets near cape hatteras.

one thing to say about this article and what has transpired -- bob dudley said it all -- at a press conference shortly after they issued the ceo, they said they would -- they weren't sure what this would mean for their business. end of the stark warning to investors. >> it could in fact -- affect investment. said "sometimes events occur that are under tenant and change the course of history." this was one such event. talking about the downing of mh 17. >> i'm going to take it in the letter direction. this is an "the times." bank turned down a circus group, saying they were immoral. they had problems with the morality of the circus because a this particular outfit, burlesque dancer on stilts. they were looking into funding a business account to be able to grant work for charity. they wanted to work with terminally ill children. ison't know if this particularly the circus of uncertainty, but certainly, they are unable to get lending from santander. pretty amazing that the bank manager has so much control. if it wasn't so serious, it would actually be laughable, but according to the everyday sect

william dudley gale, while witnessing the retreat, wrote of a woman named mary bradford who ran out under heavy fire and did all she could to induce the men to stop and fight but her appeals fell on deaf and defeated ears as the day and the dreams of getting into kentucky faded into darkness. with the confederate line broken beyond repair, the union army continued forward and drove hood from the city of nashville, forcing the confederates to leave behind 54 artillery pieces. hood lost about 4,400 men killed, wounded or missing. again, suffering several irreplaceable casualties now in the face of a stunning union victory. as the confederates departed nashville hood called out to his men, boys, the cards were fairly dealt at nashville and thomas beat the game. sergeant james stevenson of the 19th tennessee quipped back, yes, general, but the cards were damn badly shuffled. the plans that davis and beauregard had approved for the of tennessee and any hopes of success in reviving this confederate independence movement in the western theater collapsed on the frozen ground along the cumberland

of speaking of which, over with regard to fsoc, we sent a letter to the head of the new york fed, dudley, with regard to his involvement with fsoc. he's an active participant, is my understanding. is that correct, with fsoc? >> i believe he has the status of observer. >> well, my understanding is that you have given him active participation status. is that correct or is he just an observer? >> i am not in a position to make any rules about who can or cannot attend fsoc. those are done by the leadership which -- >> well, you allow him to attend. would you allow members of this committee to attend? >> it was not my decision. >> to allow him to attend? >> the time of the gentleman -- >> can i just get an answer, whether it was her decision. who allowed him to attend these meetings? >> brief answer, please. >> i believe the treasury secretary. >> thank you. >> the chair now recognizes the gentleman from california, mr. sherman. >> chairman yellen, we learn a lot from you. thanks for being here. you also have a chance to learn from us, not because we have any great economic theories worthy of

. >> dudley moore is arthur. >> do you see, look, arthur and fire works right there. >> an owe men from ago. >> 1981 that movie was made. but arthur, fire works, arthur will ruin the fire works. >> such a brat. >> big drunk. >> i know. >> can we make him go away? can we make him go off to sea. >> is there nothing we can do except to plan for, yeah, stand on the edge of the coast. here's the thing i do think arthur might make a turn that fire works are okay but day part of friday not so much. let me get some fire works in. >> that is fine. >> i don't think we have had a fourth of july which has had lousy weather for quite sometime. something we will show you in the full forecast. but today tuesday weather by numbers is a six. hot and humid but no rain today. buddy by the pull in the team u.s.a. t-shirt and mug it the dog. they are both ready. thank you. to jump in the pool and watch game later on today. your fox cast will see a high of 91 degrees, partly sunny, warm, humid and we will watch for a chance of a shower or a then are storm. that is still ahead in the full forecast but first a

it reminds me of dudley moore movie. >> a u.s. cargo ship teaming up with a danish ship to destroy the last of the iraqi weapons. >> a food truck goes up in flames. >> a do not buggy driver's plan to drive up the hill doesn't go exactly as he wanted. that and other videos captured by our citizen journalists. [ grunting ] i'm taking off, but, uh, don't worry. i'm gonna leave the tv on for you. and if anything happens, don't forget about the new xfinity my account app. you can troubleshoot technical issues here. if you make an appointment, you can check out the status here. you can pay the bill, too. but don't worry about that right now. okay. how do i look? ♪ thanks. [ male announcer ] troubleshoot, manage appointments, and bill pay from your phone. introducing the xfinity my account app. >> taking a look at the videos captured by our citizen journalists, a military police firing tear gas and pepper spray against protestors in sao paulo demonstrating against the arrest of two anti world cup protestors. 16 were arrested. >> this mom

. >> dudley. >> that's great. >> shell's big in russia. exxon's big in russia.s up big, because production growth. production growth. >> another company exposed to russia, mastercard. 80 cents beats 77. purchase volume up 13. bought back more than a billion in the quarter as well. >> yeah, that's revenge against the last quarter. they're saying 50 million at stake in russia. that's the same number that visa's been using. this is a comeback quarter for mastercard. very well-run company but they needed to put up good numbers and they did, so it's bouncing. credit card bouncing. >> we've got a number of results from the cable industry. time warner cable, they weren't great, but they don't really matter. comcast in a deal to acquire time warner cable, all stock transaction. don't think that's going to have much impact. charter also not great. okay. cap ex was a bit higher, i believe, than people had anticipated. overall, cable is not a growth industry in terms of adding subscribers in any way, shape, or form. but don't forget, if the time warner table deal goes thro

william dudley gale, while witnessing the retreat, wrote of a woman named mary bradford who ran out under heavy fire and did all she could to induce the men to stop and fight but her appeals fell on deaf and defeated ears as the day and the dreams of getting into kentucky faded into darkness. with the confederate line broken beyond repair, the union army continued forward and drove hood from the city of nashville, forcing the confederates to leave behind 54 artillery pieces. hood lost about 4,400 men killed, wounded or missing. again, suffering several irreplaceable casualties now in the face of a stunning union victory. as the confederates departed nashville hood called out to his men, boys, the cards were fairly dealt at nashville and thomas beat the game. sergeant james stevenson of the 19th tennessee quipped back, yes, general, but the cards were damn badly shuffled. the plans that davis and beauregard had approved for the of tennessee and any hopes of success in reviving this confederate independence movement in the western theater collapsed on the frozen ground along the cumberland

back in march, bill dudley from the new york fed, usually known as being uber dovish, came out and talked about biotech stocks and about credit and he talked about social media and farmland prices. this is a very deliberate attempt by the fed to let a little bit of air out of the tires, rather than go into full hawkish mode, which they know might derail the train. they're very worried about doing that. so in the short to intermediate term, while they figure that out, they're going to make comments like this. it was buried on page 20 of the biannual report that the fed put out. a lot of people didn't see it at first. it came out. and there it is. i'd say it's a deliberate part of the fed's communication policy under yellen and it seems to be a very interesting way for them to talk things down without knocking the whole thing over, so to speak. >> but is it appropriate? that's what people have been debating today. earlier today, the guys on "fast money halftime report" were talk being it. our own josh brown had this to say. he thinks it's appropriate. he kind of likes it. here's what he sai

a decrease next year but then there was all this talk from guys like new york fed president bill dudleyshouldn't sell assets. so now it seems about even next year. half of our respondents in the april survey expecting a decrease in the balance sheet, now only 14%. let's move on now and take a look at whether or not people are in agreement with the current pace of taper. only 8% think the fed should taper more slowly. and then when you look at what's happened here, increasing agreement with the pace of taper. three quarters of our 36 responders include economists and fund managers. think the fed should taper at the current pace and 19% down from 40%, about half think the fed should taper more -- should taper faster. now looking at the timetable, the first rate hike seen in august 2015, the plurality is july, by the way, and the first balance sheet reduction, december 2015. the plurality actually a month later in january, 2016. a change in the fed funds forecast. up 0.21 is the forecast for december 2014, and then if you look at 2015, it's gone up to 1%. that's pretty much in line with th