west coast this is likely due to having the program having a good exposure to the venture capital best class in most of the manages within the venture capital class are focused on silicon valley and the west section so we've been adding to and we added last year to extra silicon valley venture i can move quickly to the portfolio observations on page 11 so i'll move through this quickly i highlighted a few already but we did add 11 new managers in 2015 and we under wrote 9 managers not automatic yes you know strict underwriting those manager candidates and passed think 6 that had existing managers that came back to market in terms of areas we added to highlighted here in emerging market and focus and mid market and early stages and health care as well as turn around and in terms of fundraising environment we've been working hard to get access to the managers within the 20 managers that we committed to we did get cut back in terms of allocations and for casing think page 12 we continue to recommend a near term of $850 million for per year to 18 percent reach the the fact of the matter an

west coast this is likely due to having the program having a good exposure to the venture capital best class in most of the manages within the venture capital class are focused on silicon valley and the west section so we've been adding to and we added last year to extra silicon valley venture i can move quickly to the portfolio observations on page 11 so i'll move through this quickly i highlighted a few already but we did add 11 new managers in 2015 and we under wrote 9 managers not automatic yes you know strict underwriting those manager candidates and passed think 6 that had existing managers that came back to market in terms of areas we added to highlighted here in emerging market and focus and mid market and early stages and health care as well as turn around and in terms of fundraising environment we've been working hard to get access to the managers within the 20 managers that we committed to we did get cut back in terms of allocations and for casing think page 12 we continue to recommend a near term of $850 million for per year to 18 percent reach the the fact of the matter an

>> there certainly are derivative ways to get that exposure. most of the exposure initially before china began to open up its capital markets was sort of through that route. the problem is essentially then you have other concerns in terms of headwinds facing developed markets as well. if you're playing it through europe, europe is going through its own cyclical headwinds with regard to slower growth. also kind of contending with what the fed in the yaunited states is doing with the interest rates. that really is the tail that wags the dog of the global economy. the entire world seems to react to it negatively. there are consequences and potential risks to going that route. i do believe if you want china exposure and if you think about what the indices right now is thinking about, include iing jpmorgan basically now talking about including china mainland bonds and offshore bonds potentially into their emerging market debt index, i think there really are opportunities to go directly in. i believe you have to go in through a managed sort of proces

these companies that don't have exposure overseas, dollar exposure or exposure to emerging markets, things freaking people out over the last year and that's one of the things i would say utilities made a perfect, perfect double top. last year worried about the search for the yield came back down and just got there and down a lot in a very short period of time. you probably have an opportunity back towards 45. >> yeah, the staples move was interesting and some might have argued that they really reached full valuation at this point. the move, the ratchet hire that we've seen this year in the stocks is tremendous. >> yeah, i actually can't find any value there, not to just throw them out with the bath water but okay, i'll throw them all. i agree. the move has been too much. >> how about your coca cola? >> i think you trade it from the long side until it breaks back down through the double tops through the breakout level. quickly about the bond move. this is a couple day bond move. i don't think the move -- >> goes back down? >> i believe so. i understand what is going on. listen, i think ten-

. >> people are very much living with this disabling worry of having an accidental exposure. >> allergic reactions occur when the body's immune system overreacts to certain proteins in food. while any food can trigger a reaction, about 90% are caused by "the top 8" -- milk, eggs, peanuts, tree nuts, fish, shell fish, soy and wheat. when the immune system launches a protective response, cells release antibodies known as i-g-e or immunoglobin e. >> an i.g.e. is the match that lights the fire behind allergy. within 6 minutes you can have this very serious allergic attack. this young lady presented here after ingesting some cashews. >> this is what anaphylaxis looks like. this little girl's mother gave techknow permission to use this video. >> anything on her tummy? yep, and on her back too. >> and she's hot to the touch. >> so gieve, come and take your food now. >> nine year old gieve gregg is allergic to tree nuts and eggs. he's eating foods he couldn't eat before. >> how severe are the allergies? >> the first time we were exposed to it we had no idea how dangerous this is. >> that must be

peabody also suffered from exposure to the bankruptcy of former subsidiary patriot coal. the entire industry, of course, is feeling the pressure of low natural gas prices. a slowing chinese economy and increased regulation. coal production this year is expected to fall 25% from 2014. >>> nearly 40,000 verizon workers walked off the job today as nine months of contract talks between the unions and the telecom company failed to produce a new agreement. some say the strike reflects the anger we're seeing in this primary season as many in the working class believe they're being asked to sacrifice their financial future for the sake of corporate profits. mary thompson has our story from new york. >> reporter: verizon workers taking to the picket line in the nation's biggest strike since 2011. >> we are officially on strike! >> reporter: over 36,000 union workers from massachusetts to virginia walking off the job at 6:00 a.m. on wednesday. union rep dennis traener saying the intent is to reserve good jobs in the shrinking landline business and make sure workers get their fair s

. >> the 3 rooms that have exposure the fronts bedroom opens on the front yard and to the east opens into the 5 foot by 12 foot in towards the rear yard and the main living space opens on to 7 and a half by 10 foot well, that fits at the center of that space i'd like to note that the request see for the second units came from planning department staff very late after the filing of the dr we did our best to incorporate but further interested in improving the exposure into the light felt rarnld we gambled the opportunity to work with staff to open that well within the living spaces towards the rear yard it will take more time but certainly we want to improve the quality of that. >> the more we can let light into that the better it will be thank you very much. >> thank you. >> commissioner vice president richards. >> interestingly enough we've heard a lot i hate to see neighborhoods not coming to an agreement this project is not about a root issue i teach actually, i didn't have any coffee a nice person i think that is not about money this is a pure land use decision he passed the test

but anything -- a lot of the exposure is so small. purest exposure in the motif are the industrial solution companies that actually store solar. >> i want to get a view if people should buy into it. is it a good idea, please? >> one i'm probably not that interested in. i think it is further out. right now, no. >> guys? >> i'm with pete. >> i would buy it. i mean, because i like the focus on this space. so, yeah, i would. >> good to see you. thank you very much for coming in. >>> coming up, jon is finding unusual activity in one tech name and showing signs that the stock could pop. as we go to break, a look at the halftime portfolio leadership calls. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ weinto a new american century. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and highe

se but companies that have exposure to the emerging markets, abbott lab or 3m or whirlpool.t's all brazil, for sure. i like to have a better balance. >> our asset allocation models are between 8% and 10% emerging market at all times, not necessarily in line with what the msci index is. we think it is not enough to get u.s. company exposure, you knee the equities to be diverse fide and capture the benefit when they start to outperform, which at some point will happen, that will mean revert. the meantime, look at brazil, scott, today. this is a market that opens down with a big gap, recovers, now up 2% or so. there is a bid for these stocks the first time in recent memory and it is nice to see. >> just to extend what josh is saying here, we also think that anybody strategic asset allocations should have emerging markets but we have to understand, this is going to be a very -- just what you pointed out with brazil, always going to be a very volatile asset class. we term it a rip van winkle, put the money in there and don't look at it every day, look at it over many years. you'l

exposure and balance that out with defensive grade investment lawns.look at other asset classes, what is attractive for you? >> i think two things are attractive. we spoke about bonds, corporate bonds in particular in the u.s. and asia are attractive. any kind of absolute return type are two we are looking at. the one we are paying attention to is the u.s. dollar. in terms of risk and fundamentals, that is the one that will set the tone for asset classes, equities, particularly in this part of the region. if we see a rebound in the dollar, that might cause markets to take a step back to reassess fundamentals. why is the dollar as weak as it is currently? it is most likely because of what the fed has told us. the market has gone from pricing hikes tole of rate a 50% chance of one rate hike, so that has pulled back interest rate expectations. we think that has run its course. the dollar is back to the bottom of its range. hard for expectations to move lower than that. it makes sense for the fed to be cautious, but given where inflation is going and we ha

in the urn less exposure to one big customer.ho knows, maybe one day apple sees a slowdown in phone sales or worse maybe they switch suppliers that always kept the lid on avago stock. sure avago paid 37 billion for broadcom, but we learned the two companies were in talks and while that sounds like a fortune, in retrospect it's a good deal. after the deal closed on february 1, avago kept its own management, this legendary guy called ha tan. he's staying as ceo. but it formed a new i entity called broadcom limited. that's a better sounding name than avago. that sounds like a disease or something. so what is this new combined broadcom limited look like? it controls 4.5% of the total semiconductor market. that's thursday place by intel and taiwan semi. they're the elite in the big growth end market. fiber optics, storage connectivity, chips for wireless, set top boxes, broadband and either net switching. that's not either the whole list. it's everything you need to have quality entertainment at your fingertips. the broadcom limited i

just over 60 days to take sterling exposure. what is the smartest way to play it?an fx perspective, where are you seeing odd oddities of risk? >> central scenario. a vote tong to have remain meaning a brexit. what we have been highlighting is the specific case in the u.k. deficit.urrent you will enter into a hugely uncertain time frame and the portfolio flows will reverse quickly. thismartest way to play through sterling. i am not a big fan of correlation trades in this environment because it is unchartered territory. brexit isieves that going to materialize, going into cable is probably the cleanest way to do that. i would favor option ionality because volatility will increase. goa: where does the pound over the coming months? that is important to some of the clients. >> it is exceptionally difficult to determine where cable will go following brexit. it is exit everywhere. we wouldr to say that levels,est 135 or below 130 potentially. , not just theies direct economic exposure. uncertainty and all that entails. manus: according to the eu referendum, the decision t

exposure to russia over time is a good thing in that it is a massive oil producer and having exposurelargest company -- they are strategically desirable. they are not taking a lot of cash out of it right now. the dividend did increase markedly but we are still dealing with $500 million. that is not that huge. hans: did they get lucky with their trading positions this quarter or does -- or is bp known --? >> bp is a good trading company. i do think there is an underlying strength that it has in that particular business. traders get poached all the time come it is the system that bp has instilled that allows them to do things profitably. they have a lot of capabilities in the physical market. that is why they have such a good trading business. it is not just the intellectual capacity of the traders but it is the underlying business fundamentals. guy: when i look at what saudi arabia said yesterday and when i look at what they are saying regarding the long-term story of oil. how should i analyze that? the saudi's have a lot of influence over the oil markets. i think though that as we get

i think proctor and gamble has international exposure, but right now go with the down and out citigroup for more leverage to a potentially better group. do you know what you should most fear should the utilities. that's right. there is no flight to safety trade. which is what's happening. utilities? worst group in show. what do you do if you're an individual investor looking at the land scape and want to know what's bad with my pepsico? the answer is nothing. you're being victimized by a breathless deep value rotation that many are fighting every single inch. that's why i tell you to be diversified and not just tell you, here's the bottom line. do you know who can ride this rotation now? do you know had a can handle the pain? only those who play am i diversified and win. otherwise, you're going to be chasing honey well all the way to the top. if you're going to respond, all need to do is stay the course. remember, diversification is the only free lunch in the entire investment business. garrett? >> caller: hello, jim. i had a question for you. i was wondering, the price of silver has be

we've even had two deaths in the last two years due to exposure they are associated with more serious outcomes, than other types of dedetermining events as well as two child deaths. >> those chemicals can cause serious burns, can cause severe damage. it also when it's absorbed can cause effects on the brain. >> reporter: experts say parents of young schirn should avoid if they do use them store them high out of site. >> manufacturers have moved to make containers less accessible to children. but what we found the number of exposures have continued to increase. >> i would think that you just would steer clear of buying them all together. >> if you've got children, why risk it. >>> a new drug craze among teenagers and young adults. the issue is over hash or hash oil. apparently it can be removed from a marijuana plant and it contains high levels of thc, the active ingredient in pot and the chemical responsible for providing the high. police say teens and young adults are inhaling the oil through e-cigarettes. investigators say it is tough to tell what chemicals are in the oil, it could

he sets the exposure to a longer exposure, puts the drone up and just paints the areas that he wantsosed with that light. >> we're overwhelmed every day by images of our planet and they're very beautiful. what i wanted to do was go beyond that and show almost an abstraction. >> doesn't it look cool? >> it looks like he has the bottom of the ocean. >> i suppose they're a little bit like portraits. >> the bad lip-reading guys are back and this time, we're getting political. >> he's pinch might little feet because i saw him in his porsche. >> while there's no debating that this one is downright hilarious. >> don't be so good. >>> and oops, there goes the jeep. the guy sticks his leg out like a kickstand. >> see the rescue after the almost rollover. it's a new fiber supplement that helps support regularity and includes b vitamins to help convert food to energy. mmmmm, these are good! nice work, phillips! the tasty side of fiber, from phillips'. >>> closed captioning provided by -- gra® is the fastest non-drowsy relief you can buy. allegra® gelcaps... not just fast. allegra® fast. >>> if

that point on international exposure is going to be important. when we look at investment banking sales performance, both of them alluded to the fact that asia was the brightest spot once we got to that march pickup. they both said january and february were very weak. but march started to see a pickup. the margin might help citigroup, given around 16% of their earnings comes from overseas. also, guidance will be absolutely key. that's been the swing factor. they guided the worst of the energy stuff was probably behind them. wells wasn't so clear on that front. >> and bank of america. that was a miss, right? >> well, it was sort of in line on the eps number. the share price yesterday really started to perform once we had the call and once they explained how much their expenses are under control. that's something that's very important in a tough top line environment. they controlled expenses pretty well. here we have the chart year to date. i think this is very interesting because it highlights that we have now got a market that will respond to ear

they're claiming damages for diation exposure. e unitestates tested a hydrogen bomb in 1954.bout a thousand japanese fishing boats were thought to be operating near the site at the time. one died six months later. they say the japanese government failed to meet the responsibility to monitor and care for the fishermen. they're claiming negligence given the government's knowledge of radiation exposure. >> translator: the government did not do anything to support the victims. >> the group is to demand about $18,000 in compensation for each member. in 2014 the health ministry disclosed some of the records showing that the fishermen had higher than usual levels of radio activity. >>> people in nepal are observing a dark anniversary. one year ago the country was struck by a massive earthquake that killed thousands. government officials held a memorial service in kathmandu ahead of monday's anniversary. they left flowers at the site where a historic building collapsed killing dozens of people. many residents lit candles and offered prayers for those who lost their lives in the disas

when you look at companies like in japan, they have a 5% exposure. it is a highest exposure.e are companies with other etf's, they are so under exposed, you don't feel them. when you look at overlap, if there isn't overlap, it is giving you a value add and that repackaging something you already own. julie: you're looking at other ats. one is the restaurant etf. gimmicky city. if you open the hood, it does anything with consumer discretionary. julie: what does it have in it? factory,le, cheesecake popeyes chicken. you don't know how hard it is to get into these big industries. the growth spurts are over. julie: there are other ones that don't sound gimmicky that may be our. computing -- it has google, apple, facebook. you are ready on the stocks. this to me is more of a gimmick. one has pepsi and procter & gamble. great concept, but you are being sold that you are a half. overlap is crucial. julie: great to have you back, once again. betty, back to you. betty: still ahead, the model three of the tesla is bringing electric cars to the mask market. -- mass-market. we will get be

it's a way we can reduce exposure to arsenic. >> reporter: according to the fda, relative to their body weight, babies consume three times more rice than adults, mostly through their cereal, especially when they're eight months old. but the fda says 53% of rice cereal tests had too much inorganic arsenic, a naturally occurring substance that can cause developmental delays. but there are steps you can take. >> rice doesn't have to be the only infant cereal fed. there are many other cereals that are available for parents and caregivers, and we recommend varying the grains for these children. >> reporter: gerber, one of the leading baby food manufacturers said in a statement, we already meet the level proposed by the fda. levels adults should be concerned about too. >> we need to set standards across the board. we're also concerned about the risks to adults as well. >> reporter: the fda saying rice should be just one part of a well-balanced diet. morgan radford, nbc news, new york. >>> still ahead tonight, sipping and shopping. the trend that experts believe may be driving the rise in late

how they arear lending the credit exposure there. we want to hear from some of the most global lenders about how markets are effective around the world, particularly in europe and other parts of the world where we want to see it begin to pick up. from differents companies. overall, having gotten through a tough quarter and setting themselves up for a better second half is what people will be looking for and wanting to hear. different things from different financials. forow much better everything, the corporate environment as a whole and the investment environment? >> it depends. we are looking at early signs that china may be destabilizing. we got data last week of the manufacturing index. that will be the key in taking a look at what the global demand picture looks like here and we have started to see some sights in the u.s. of things starting to pick back up again. shift intum of the forward-looking growth is critical for our expectations for the 2017 profits and much of that begins to get priced into the second half of this year.

real estate as well as energy exposure. that's partly why the stock has been trading lower. this is a nice upgrade. >>> next stock, stanley black and decker. raymond james raising estimates above consensus as well as guidance. do-it-yourself trends with the weaker u.s. dollar should do it, too. market performance also. the analysts went out said that since january 28th the stock up 15%. twice the s&p 500. >> all these do-it-yourself stocks. remodelling your home, fixing your car, laying down tile, they have all had ain bid. >> renovation nation. >> that's a good show. it should be. >> it should be. >> jinx. next up, steel. goldman sachs upgrading this global steel maker adding it to the conviction buy list, says that china's steel market finally looks to be on the cusp of a near term inflection point. lower capacity, lower inventory, in other words china's steel market is slowing down. they think the valuation on mtl is fair and that recent spot price momentum should help the stock. their target is in euros, 5.4. 35% in u.s

players will be forced to attend more than one camp for a chance at receiving the same level of exposure. >> those prospects can't pay to go to all those different camps for the smaller schools. at this level, you'll be able to offer so few kids out of the camps. >> reporter: it's the harsh reality, especially for those in the class of 2017, who have one summer left to make a splash. the abbreviated recruiting timeline and the pressure on athletes from financially disadvantaged background were two of the biggest reasons behind a change.org petition. the campaign has more than the ncaa to rethink the ruling and act in a manner that is in the best interest of the student athletes. >> i think eventually they're going to realize there's a lot of kids hurt by this. i think they should reinstate it. i think it would help a lot of players and it would be great. >> reporter: i did reach out to the ncaa for comment. they did not have one. only recommending that i talk to the individual athletic conferences. after the amount of pushback on the rule, you saw the change.org campaign, the committee i

they want the exposure and they're calling for the debate. i think they will find the time. the campaign trail schedule is tight right now. i think this is frustration is a response to all of that debates pushed to saturday and sunday. they want something as high profile the republicans have had. >> chris moody, thank you. when you get into debates over debates, voters do not care. >> they just want to see a debate. >> he has a t-shirt. >> this is always. >>> chris, thank you. donald trump, the gop frontrunner trashes the economy and makes bold claims about the national debt. trump says he will erase the $19 trillion debt by the end of his second term. $19 trillion. the math doesn't work. that would require the u.s. to pay off $2 trillion a year. the annual budget is under $4 trillion for the current fiscal year. he would renegotiate trade deals to increase economic growth and wipe away the debt. those economists say that could cause a trade war and recession in the united states. trump says the country is headed for a massive recession and the u.s. economy is sitting on a b

. >> you have a lot of exposure to patients and pain, but you don't get the exposure to the treatment side of it. >> reporter: so then what was different here? >> first of all just addressing this is problem, this is real. and then coming up with-- multiple options, which-- and some are options. i've never seen before and not really heard of before. >> we get to have perspectives from different disciplines. a nurse treats pain very differently from a doctor or a dentist or a pharmacist. but we all together can come up with some excellent strategies that complement each other. it's real. your pain is real. but you've made so much progress. this is why i have tissue boxes here. pain isn't necessarily that simple. and there aren't easy answers to treating it. and it often takes a special kind of person to take the time to really listen to the patient. so modeling that for students, of course, is the ultimate goal. >> reporter: what more do you think medical schools should be doing? >> so finally someone is recognizing that this is important. i'm hoping that it's not just gonna be an opio

he faces felony assault on the officer and misdemeanor indecent exposure charges. >>> a senate measureg airline seat sizes was defeated thursday. the bill led by new york senator chuck schumer would have prevented the airlines from reducing the distance between them. >>> 9-year-old was the first reporter on the scene of a homicide in pennsylvania. several people commented she should go back to playing with dolls on her facebook page, but hilldy is not going anywhere. >> if you want me to stop offering news, then get off and do something about the news. there. is that good enough for you? >> take that. >>> after 15 seasons "american idol" has said the final farewell. yeah, the finale featured a special introduction from president obama, a performance from season one winner kelly clarkson and everyone in between. a reunion of the original trio of judges. in the midst of all the celebration, trent harmon was crowned the winner of the season. sad to see it go. >>> now some sports though, we begin at the masters and the most talked about flub of the day. ouch. south africa's ernie els has a

investors about 13 billion in subprime exposure.hat do we know about whether or not chuck prince or robin knew about that. >> we were a bipartisan commission. we took our duties very seriously. our main job was to try to explain to the american people what caused this crisis. what brought our economy to the precipice of collapse. our duty to refer matters to justice were found potential violations, laws with a serious obligation, so we didn't do this politically and as you can see, we never revealed any of this until all this was revealed by the national archives, but in this instance, we refer this matter to justice because we felt there was enough evidence to indicate that there was a potential violation of law, that chuck prince, that robert rubin, and that other leadership and citigroup had knowledge their empo sure was $55 billion to the subprime market when they were telling investors in the market it was 13 billion. in the end, there was a small, you know, fine to citigroup paid by shareholders. >> 75 million. >> but teeny, t

you have double digit exposure to the energy loans i want to stay away from those. but single digits isn't a problem. >> good stuff. here's what's coming up next on the halftime report. >> still ahead, taking a coffee break. >> i believe i ordered the large c capachino. >> find out how our resident barista feels about it. plus investor day at tiffany. jim is married to the stock but josh and stephanie think he's holding on to fools gold. we'll debate it and a hedge fund manager with a killer track record on why he sees value in health care right now. it's all coming up on the halftime report. at mfs investment management, we believe in the power of active management. by debating our research to find the best investments. by looking at global and local insights to benefit from different points of view. and by consistently breaking apart risk to focus on long-term value. we actively manage with expertise and conviction. so you can invest with more certainty. mfs. that's the power of active management. i am a technological breakthrough. this morning i read over 4000 ar

it's a way that we can reduce exposure to arsenic. >> reporter: according to the fda, relative to their body weight, babies consumed three times more rice than adults, mostly through their cereal eslegsly when they are 8 months 53% of rice cereal tested has too much inorganic arsenic. there are steps you can take. >> rice doesn't have to be the only infant cereal fed there. romania other cereals available for parents and caregivers, and we recommend varying the grains for these children. >> reporter: gerber, one. leading baby food manufacturers, said in a statement we already meet the level proposed by the fda, levels adults should be concerned about, too. >> we need to set standards across the board, and we're also concerned about the risks to adults as well. >> repr: sipping and shopping, the trend that experts believe may be driving the rise of the late-night online spending sprees. >>> also, late word on what police have concluded about that knife found on o.j. simpson's former good news. you're down with crestor. alright! now there's a way you can get crestor for $3. adding crestor

on the other hand, banks are still having to reduce their exposure.ard chartered is apparently putting loans on the market. of banksshrinking exposed in emerging markets and perhaps the tom: worst time. francine, i think there's a lot of value in not looking at the major stories, but unicredit. then unicredit announcement was something. francine: and we know that unicredit is meeting with intel some, pressured by the government, which is why they are actually the biggest gainers today. i have a disclaimer. tom, you have a lot of sense of humor. you do not have an offshore account. i do not want to get internal revenue on our behind. tom: get over it. continue. francine: paul, when you look at the banks, we forget sometimes that there's a transmission mechanism that has to go through the banks. then you think anyone that goes through qe, you need the banks there to support it. is that almost broken? paul: i think we can't talk about monetary policy as being end-all anymore. you have to talk about regulatory policy. as we see more regulations on the ban

item 9 under the consent calendar commissioner antonini commissioner hillis commissioner johnson exposure commissioner wu and commissioner president fong so moved, commissioners, that motion passes unanimously 6 to zero. >> on item 7 b grant the variance. >> thank you zoning administrator. >> commissioners, that places you under your under commission matters item 10 draft minutes for march 21 and april 7th of 2016. >> okay. is there any any public comment on draft minutes. >> any georgia swedish here to comment on the 31st of march i guess item 8 kemper lands aim embarrassed that is the the short things on sunday morning president versus precedence in setting the minutes i talked with accident cd e nc e he talked about the precedent of the lot merge to summarize the lot merge was unnecessarily in that neighborhood those reductions in the zoning the project was out of characterization and demolition of sound more affordable housing and those are this 4 precedence i talk about so the distinction i'm making between what was written in the minutes and the precedence is you housing should have

the exposure to the sector ranges from 13% to 24%, not all gloom.ays the three lenders capital loan-loss provisions, plus a very high possibility of government support if and when needed. by the way, the outlook for singapore banks may have been cut, their moody's long time rating is still among the highest possible. all things considered, not looking too bad. rishaad: thank you indeed. serves one inpany every seven people on earth and has sales bigger than apple and boeing combined, so why have we not heard more about it? we will put that right, next. ♪ >> welcome back. it is 9:43 a.m. in hong kong. these are the stories making headlines around the world. president obama holds talks with the two closest allies in asia. increased security cooperation. china has criticized the pentagon's plans to install a ballistic missile defense system in south korea to deter an attack from the north. , $4.8 million in cash handed over in connection with the heist. it was a suitcase filled with notes. the money came from chinese gambling operators. hackers stole e

to high-yield bonds. -- trying to get exposure to high-yield bonds.ink, itnues to will end up being that much less popular with investors. david: still ahead, the commodities he was a look at oil, having a big day today. nymex crude up 6.1%. ♪ david: from bloomberg's world headquarters in new york, this is "bloomberg markets." appealinggovernment's in new york judge's ruling last month, rejecting its demand that apple help unlock a drug dealer's iphone. in tech giant has cooperated previous cases and should do so again. the government successfully hacked into the iphone of one of the san bernardino shooters without assistance from apple. bernie sanders appears to be surging in the critical state of california. ,illary clinton leads sanders but the lead has only increased 1% since june while sanders's support has jumped six points. republican candidate ted cruz added $12 million to his campaign war chest last month. he has raised about $32 million over the first three months of the year. officials did not say how much cash the texas senator has on hand

institutional investors, high net worth investors have had exposure to them and been investing in themit's over the last 10 years or so that we have seen the growth of liquid alternatives. alternative mutual funds that look to give investors alternative investment like exposures, but in the fewer -- in the form of mutual fund. one of the challenges they have, they are used to looking at their investments in a certain way mother they are used to just owning stock and bonds. this is completely new asset class for them. one thing we've tried to do it goldman sachs is educate investors on how they might be able to look at liquid alternatives. by looking at them through the lens of hedge funds, which have been around for decades, there of hedge funds come a trillion dollar industry, a big industry to look at my thousands of funds come a good data set -- if we look at liquid alts, we can see how they perform and get a better assessment of how to put them in a portfolio. david: hearing about how an ac and this market is -- how to nascent the market is, how is it doing in the long-term? larry:

i don't think they have the same exposure to financing. i think the margins are holding in. f 150s to me is the highest margin vehicle out there and if the housing market is recovering, there you go. >> it's been peculiar to see the least how we talk about how strong the auto market has been for the last 18 months minimum. >> the numbers just levitate. >> disappointed. >> and almost like the better they report earnings, the more that solidifies people. that was the peak quarter. i was looking over the last several years, the p.e. multiple was nine and change. people clearly, the dividend nearly five. it is curious. all that having been said, i don't own it. i'm afraid the autos peaked. >> i do believe you need global growth. you need a growth environment. i think this is a whiplash because they have been beaten down so badly. ford is up 2.5% year to date. gm down 5% year to date but i think you need tim talked about housing. i think that's correlated. the f 150 is correlateed to a better housing and better housing numbers haven't been great. >> they do have great margins wit

he and his new flowers staff had to teach a region and that had little exposure to hockey to understand the game. they did that and more. the flyers have one of the most passionate fan bases in the nhl. mr. snider has his employees and players always called him was a shrewd businessman whose stare to pierce through lead. he famously fired coaches almost at the drop of a hat but he also expected excellence with his team and passion during every shift. snider had also been a part owner of the eagles and served as chairman of the sixers and what would become the flyers parents company comcast-spectacor. he was elected to the nhl hall of fame in 1988. snider is survived by his wife, three daughters, three sons and several grandchildren. he also leaves behind a legacy of philanthropy. the ed snider youth hockey foundation, the snider foundation and the flyers wives fight for lives organizations will endure long past his death. edward malcolm snide ar snider 3 years old. matt o'donnell channel6 "action news." >> his death comes two days after the flyers secured a spot in there stanley cup pla

the project also requires a variance for join unit exposure. the code requires at least one room in each unit pays 8 rear yard street alley 20 feet with an open area at least 25 feet in each horizontal dimension which increases by 5 feet in every horizontal dimension at the 3rd residential level and above. there's no required rear yard in the district so without incorporating substantial setbacks of the rear which could impact the number of units proposed units of the rear would not be exposure requirement even if the w [inaudible] the department has received one letter of support from the neighborhood association but also requested the project sponsor required 20% of portal housing on the project site other than the required 12. they request that a percent meet made available to households making 90-120% ami. the department supports the project because on balance it meets the goals and objectives of the general plan as her places and underutilized parcel with new rental housing has been designed to be consistent with her.. the project it's all

four traumatics exposures by the age of six. those are our patients. when we treat them and when we provide services to them, there is a level of secondary trauma that we experience when we hear their stories over and over and over again. this is true for primary care. this is true for i.c.u. and true for anybody working in the department of public health that has patient interaction. that level of stress gets translated back to the client. it may get translated back to, you know, i can't hear this any more or i can't return your phone call today, it has to wait until tomorrow. there are various ways we see secondary trauma and vi vicarious trauma showing up in staff. there is a stress-related response that not only our patients and clients experience but we experience. by teaching the staff, really teaching them about why this happens, that it actually makes stens that they're feeling the feelings and the behaviors make sense, we believe that we can just like we do with our patients when we teach them cognitive behavioral skills we believe we can help

as we talked in the past, ambac is -- has exposure of the island, about 2.2 billion of the net par exposures we've spoken in the past. that's the origin issue amount of the bonds we have guaranteed. we don't have any exposure to the payment on monday. it's unfortunate as we've said in the past, we think the path for puerto rico is toward regaining credibility and access to the markets. we think the beth wst way is co sense wall relationships with the creditors. they have been in conversations with the commonwealth to try and work out a deal. unfortunately, it doesn't look like they're going to get all the way there, and it appears there's going to be a default on monday. >> the governor effectively said as much the other day. it kind of looks headed in that direction. the big e issue, perhaps, is the july 1st set of payments due to which you have exposure of $2 billion. how concerned are you about that given what we're kpnting for monday? >> we're concerned. of the $2 billion, we have about $120 million of exposure. it's not the full 120 we're at risk for. i think the more important risk is

. >> speaking of earnings, wells fargo exposure is a focus for investors we'll have a first interview with john shrewsbury. >> today a bit of a pull-back but essentially neutral. we'll bring you the ceo missage as they open up to developers for the gopro app. >> who had the best day yesterday? was it kobe, steph or jamie d e dimon? what one is calling the ceo trading bill of the decade. >> i think he was double that in his annual ized return. >> that's true. let's start with the airline stocks, getting the lift from the better than expected earnings report. >> i would say first off, i don't know if jamie dimon took 50 shots the other night as well. let's talk about delta airlines, they reported first quarter operating profits that beat wall street estimates and airline company's revenues did however fall like you mentioned. they fell slightly short of estimates with some negative impact. shares gained about 7% over the past three months but still down around 4% this year. trying to rebound. airlines had been a hot trade before and trying to rebound from the january lows. the airline i

they say, i just don't need or want that risk of owning european exposure.ink there are some smart investors out there, whether they are in the u.s. or asia, taking advantage of some of the structural inefficiencies, the weakness we have seen both in terms of currency and sectors, and they have done really well by owning european exposures. if you strip all of that back and you take into account economic growth, if your expectations are weak, economic growth, be stellar, but if you think of it from a heart rate monitor perspective, european een veryas always then b shallow -- it is not an anglo-saxon cycle -- if you have the expectation it will be this very shallow cycle, and you have a core holding in europe, not much will go wrong. there are still some fantastic companies and some economic value in terms of its $350 million plus economic society, with the potential to do more going forward. it is just your expectations and the understanding of what risk you are prepared to take on. guy: think you very much indeed for your time. wayne bowers, joining us. je

towns mean disrupted water supplies, broken sewers, inadequate shelter, these in turn mean more exposurend sickness. so, for both military and humanitarian reasons, we must act quickly and decisively. the commanding general orders a compulsory movement which changes the state of refugees into that of evacuees. his staff which may include a civil affairs officer called g5 , prepares the plans for civilian evacuation. the local commander, guided by the tactical situation carries the plans into effect. orders go down the line specifying exactly to what place the civilians will be evacuated, and what arrangements have been made for receiving them. the mps assigned to each succeeding lower exelon handle the physical side of the movement. there is a necessary difference in the discipline required for handling the evacuees of enemy countries, as compared to those of liberated nations. action is taken accordingly. while extreme alertness is required in both cases, in conquered territories, the and aloofvigilance awareness is absolutely essential. sometimes the evacuated will resist the order to

>> the nature of the beast is that lead levels in water are unpredictable and exposure iss really like a russian roulette. >> woodruff: all that and more on tonight's pbs newshour. >> major funding for the pbs newshour has been provided by: >> and with the ongoing support of these institutions: >> this program was made possible by the corporation foro public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> sreenivasan: a few hours from now, they'll be counting the votes in new york's presidential primary, and for the first time in many years, the results could be critical. broth frontrunners lost momentum after a series of defeats in recent weeks, but convincing victories in new york could change all that. for republican donald trump, winning big tonight might help avoid a contested g.o.p convention this summer. for hillary clinton, a goody night wold boost her already big lead in delegates for the democratic nomination. still, there's no sign their rivals plan to drop out, regardless of what happens tonight. so the candidates kept at it today

>> the nature of the beast is that lead levels in water are unpredictable and exposure is really like a russian roulette. >> woodruff: all that and more on tonight's pbs newshour. >> major funding for the pbs newshour has been provided by: >> part of the corporation'st small ship line offering seven day cruises to three cities in cuba, exploring the culture, cuisine and historic sites. more at family.org. lincoln financial, committed to helping you take charge of your financial future. >> and with the ongoing support of these institutions: >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> the polls have closed in newe york state and as expected it's a big night for donald trump. the front runner will win a commanding victory over texas senator ted cruz and ohio governor john kasich. he's hoping his win is big enough to sweep the delegates at stake. on the democratic side there's no projection at yet.t hillary clinton was hoping for a big win over bernie sanders for 291 democratic