. >>> shares in fiat hit the skids after the u.s. department of justice reportedly prepares to sue the carmaker over its excess emissions. >>> burberry shares are in fashion with investors in early trade as the company reported better than expected underlying profit as a new ceo gets set to wear the pants. sent to where the pen >>> good morning once again, it's thursday. glad you're with us. let's get straight to the markets, see what the fallout from the white house drama continues to be. the stoxx 600 is still off by 0.5%. the dax seeing its biggest loss since before the trump election. the dax down 1.4%, the cac off 1.8%. the worst day in more than eight weeks. as you can see, we're extending that selling pressure on the markets. let's look at the sectors one by one. you can see autos are under pressure, off by 1.4%. this is mainly because of fiat chrysler given the u.s. investigation and the pressure on the carmaker. we'll get much more from nancy hungerford. utilities, household goods are the few out-performers. utilities up by

and fiat having trouble with diesel. u.s.epartment of justice saying that fiat chrysler used illegal software to pass emission tests. this makes fiat the first carmaker that the government has accused of cheating emissions test since volkswagen at the end of 2015. fiat for its part denies that it used any illegal software to if a those tests so trying to separate itself from volkswagen. barclays out with a note earlier downgrading its price on fiat saying this is going to take a long time, it will blur fiat's message on strategic goals and it will cost about $800 million in cash. guy: we will see how the stock opens this morning. called softer. is called spencer softer. this floor does well, food. elsewhere, not so good at the moment and that is what the market is focusing on. we leave you with a shot of the vatican. ♪ guy: minutes ago until the cash it is accepted to be a nonevent. i expect he will see interesting stock stores today. watch out for fears, glencore. those could be on the move today. adjusting stuff coming out

i'm looking at fiat chrysler shares opening up down 5.2%.ch as 7% is the drop we have -- we saw in milan. the department of justice is getting ready for a lawsuit against fiat chrysler for clean-air violations. if the two cannot come to an agreement. onp in mind, volkswagen was the hook for billions and billions of dollars because of its violations. fiat chrysler wants to obviously -- shareholders want to avoid that fate. guy: absolutely. fascinating story. we are not done with a diesel story just get. it is going to be an interesting one for the european carmakers as they figure out what exactly they are going to have to spend too electrified astride -- electrify those drivetrains. first quarter earnings match estimates. we will speak with the cfo, coming up, next. what could be the outcome of the last presidential elections about who is the supreme leader. live on the ground in tehran. this is bloomberg. ♪ guy: 12 minutes into the european equity session. let us talk about what is going on this morning. big day yesterday. this morning, som

fiat chrysler went ballistic.y were very upset, to be accused of this kind of cheating when they characterized it as a sort of clerical error, sort of paperwork error of omission kind of thing. here we are months later, still no resolution. there's this consumer lawsuit, several consumer lawsuits being brought together in a california court tomorrow. the epa and justice are filing today in detroit to try to get their case added to that one. it's complicated. scarlet: it's complicated and i guess you sort of address to this. the sounds like an obama era complaint picked up by the trump department of justice that says because of these deadlines, they felt they had to strike now. been under aa has lot of pressure since the volkswagen case. while they were involved in it, it was the discrepancy between the official omissions and real-world omissions that was found not by the epa's big laboratory in ann arbor, but a private one in west virginia. and in the confession was brought out by the california regulators. some o

. >>> the european union mpreparig a legal case for failing to crack down on fiat over the emissions scandal sending shares in the carmaker lower. >>> ubisoft shares sink as the french video gamemaker trims its midterms sales guidance, despite playing down its reliance on new launches, saying it can boost profitability from older games. >>> good morning, everyone. let's kick things off with our top story. president trump asked former fbi director james comey in february to end the agency's investigation into former national security adviser michael flynn, that's according to a report by the "new york times." nbc news has confirmed that comey wrote a two-taj mpage mem detailing the conversation immediately following the meeting. the white house denies the version of events saying the president never asked mr. comey or anyone else to end any investigation. nbc's blayne alexander has the story from the white house. >> reporter: tonight more damage control for the white house, now denying new reports that president trump urged former fbi director james comey to drop the investigation int

is filing a lawsuit against fiat chrysler for diesel emissions.freshing is surface pro. the tech giant unveiled a new laptop tablet in shanghai. cory johnson joins us from san francisco with more. greatew service pro is a product by all accounts. cory: they want it always is. this is been an interesting success for microsoft. when it first launched, it was a real disaster. they pushed it aggressively. we found that many of the services were removed. when they talk about products wereinventory, they wil not sold to consumers. over time this has become successful through a giant marketing effort by microsoft. --is a $2 million a year billion dollars a year product. vonnie: microsoft, when you think about primarily of software company, how important is hardware to microsoft? how: i think this shows you hard their job is. they are threading the needle with historic efforts, including massive failures, as well as trying to turn the business to areas with your success and greater margins. hardware margins will never be the same as software margins. took

as for the fiat? w the driver.imple conclusion. >> reporter: the french government issued its report on the crash that killed princess diana. a french magistrate placed blame on one man's shoulders. >> reporter: that man was the driver, henri paul. remember, he'd been off duty, and called in special to drive the princess and dodi. lab tests revealed that he was intoxicated at the time of the crash. his blood alcohol level twice the legal limit. investigators determined paul was drunk and driving too fast as he tried to flee the paparazzi. >> it was in summary, a tragic banal traffic accident. >> reporter: but one british poll indicated more than 60% of uk citizens were cnc of a conspiracy. leading the charge was dodi's father, mohammed al fayed >> i'm not going to rest until. >> reporter: the billionaire financier insisted the car crash was actually a murder orchestrated by the monarchy and implemented by mi-5, the uk's domestic security service. >> i am certain, hundred percent, that leading member of the royal fa

it was a paint specific for the fiat uno.f the tunnel. >> perhaps more physical evidence to that second car mystery theory. >> reporter: now police were getting a better idea of what may have actually caused the wreck, according to "newsweek's" christopher dickey. >> there is a little on-ramp that comes in from the right. and you don't necessarily see cars on that. so this fiat uno, a little after midnight comes down into the tunnel. and then there's this flying mercedes coming in behind him. >> reporter: he swerved to miss the fiat, and -- >> sure. >> reporter: -- and swiped the fiat? >> sure. >> reporter: investigators believe that high speed "swerve" by the mercedes to avoid the fiat was just enough to send it carreening into the pillar. as for the fiat? it was never found, neither was the driver. but after an exhaustive 14-month investigation, paris police did arrive at a very simple conclusion. >> reporter: the french government issued its report on the crash that killed princess diana. a french magistrate placed blame o

the epa accuse the fiat of installing the software or jeep cherokee suv's told from 2014 to 2016. >>>le believes they have a solution to soggy pizza crust. this circular box was created by apple submitted in 2010, opening at the circular container allowed moisture to escape and prevents it from getting soggy and can be stored in stacks and the pizza boxes are expected to be available at the tech giant silicon valley campus, apple park. >>> a new study shows that people travel ago board may not be getting the proper vaccinati vaccinations. more than half of international travelers eligible to receive the measles mumps vaccine did not. people that did not put themselves at risk of of the infection. if you are not sure if you need the vaccinations before your trip the cdc has a list of travel notices. >>> and may is stroke awareness month. join experts on 6abc.com today to have your questions about strokes answered. it discusses stroke signs and risk factors and more and happening now and continues until 1:00 this afternoon. head to our website at 6abc.com. >>> the "action news" team is

[applause] we will replace onerous government fiat with market discipline. we will replace bailouts with bankruptcy for large, complex financial institutions. we will replace mindnumbing complexity with simplicity, and most importantly, we're going to throw you a deregulatory life preserver to save our community banks. [applause] >> we will hold both washington and wall street accountable, and by doing so we will unleash capital formation from sea to shining sea so the economy then can move yet again for the betterment of all of our citizens. in a phrase, though the economic opportunity for all, and bank bailouts for none. the case for dodd-frank was based on the false narrative that deregulation and wall street bankers agreed single-handedly caused the financial meltdown. that case has long been exploited. regulation actually increased by almost 20% in the years leading up to the crisis but i suspect i don't need to tell you that. banking was and remains one of the most heavily regulated industries in america. we know that the government itself through the

it will not be easy for fiat chrysler to convince the justice department otherwise. has dropped by a good 4%. general motors on the other side gaining 1%. gm is much heavier invested in electric vehicles, so at this point that seems to be the trend, and notot diesel. >> think very much for the analysis. -- thank you very much for the analysis. back to you. brent: here is a reminder of the top story we're following printed british police have named -- we are following. british police have named the man accused in the bombing from last night in manchester. he is salman abedi. the islamic state has claimed responsibility for the attack. after a break, i will be back to take you through the day. we will have more coverage of the attack in manchester. we want to leave you now with pictures of manchester, morning -- mourning but standing united in the wake of that terrorist attack. ♪ >> ♪ who can say where the road goes where the day goes only time and who can say if your love goes as your heart shows only time ♪ ♪ [captioning performed by the national captioning institute

. >> shares of fiat chrysler are falling amid the news the justice department is suing the automakersel emission violations. to my understanding, feet chrysler is different from volkswagen -- fiat chrysler is volkswagenrom because they continue to deny they knowingly engaged in cheating. is that is right? >> that's exactly right. we didn't learn anything about the vw case until it was already solved and california regulators extracted a confession and they 2015nced in mid-september, that vw is cheating every cop them, and here is how we are going to proceed. this has been so different because, you know, the clock was running out on the obama administration and the epa said, we're pretty sure these guys have some software here that is not acknowledged or disclosed, and that is a dashing your notice of -- and we are notifying them of the violation, and fiat chrysler went ballistic. they were very upset. here we are months later and still no resolution. at another deadline is coming, a consumer lawsuit -- several consumer lawsuits are being brought together in a california court tomorro

. >> if you own a fiat-chrysler vehicle, there's been a massive recall from fiat-chrysler tonight.lling 1 million wrap pickup truck pics off the road. the company says there's already been one death and two injuries in connection to the problem. the recall valves ram 1500 pickups as well as ram 3500 models from 2014 to 2016. >> a tattoo shop in california will soon be inking customers with audio tracks. this is so bizarre. the shop says they take a minute of audio and create a tattoo design which can be scanned and played through an app. although many people online believe this is fake the artist says it is completely real. they plan to start inking the tattoos next month and get this, there's already a waiting list. could be walking around your arms are going to be singing. >> i can understand people p-, understand people wanting that. >> yeah. >> it my say your baby's name or lover's name or something like that. >> i don't know, it's just too weird. >> when you break up or get divorced. >> good luck removing that. [laughter] >> can a laser just take that off like a regular tattoo

. >>> the justice department is suing fiat chrysler, alleging that some pickup trucks and suvs cheat on emissions tests. the lawsuit claims more than 100,000 vehicles have software that enables them to emit lower amounts of pollutants during lab tests than would be normal otherwise. volkswagen was part of a similar probe, that cost the automaker $25 billion. that involved many more cars. fiat chrysler says it's working to clarify some of the issues and that it is disappointed the lawsuit was filed. shares of the company fell by 4% in today's session. >>> a controversial retirement rule will be allowed to move ahead. the so-called fiduciary rule requires advisers to act in the best interests of their clients and will go into effect next month as scheduled. in a "wall street journal" op ed, the president had ordered a review of regulations that included the fiduciary rule. that rule, they say, will help retirees. critics say it could have unintended consequences. >>> tech companies and app developers like apple and google are breathing a sigh of relief after the u.s. supreme court rule

fiat chrysler went ballistic. they were very upset.e months later and still no resolution, but another coming, a consumer lawsuit -- several consumer lawsuits -- are being brought together in a california court tomorrow. so the epa and justice are filing today in detroit to try to get their case added to that one. >> general motors has been hit with a class-action lawsuit. the suit alleging the carmaker put defeat devices in trucks to beat emissions tests. gm is the sixth automaker accused of cheating when volkswagen admitted to installing software to bypass emission rules. will gm try to fight this or will it admit that this alleged cheating did happen and try to settle? >> g.m. is fighting back very hard and right away. they put out a statement calling the lawsuit "baseless," noting that their vehicles, their diesel trucks, have been approved by the epa and by the california air resources board. >> the ecb says debt sustainability concerns have risen in the past few months. that stems from political uncertainties in some countries. t

fiat-chrysler is now recalling one-point- three-million trucks.ue could disable the truck's side airbags from deploying and seat belts from tightening in rollover crashes. check our website at kron-4-dot-com for a full list of the affected vehicles. .... (pam) comedian steve harvey speaking out tonight about the harsh memo he sent to his staff.... hear what he had to say and why he says he feels like a prisoner... [ birds chirping ] [ inhales, exhales ] [ announcer ] cigarettes are not just dangerous when they're smoked. [ rat squeaking ] they're dangerous long after. cigarette butts are toxic. they release chemicals that poison our water... and harm wildlife. and millions... are polluting our environment. [ sniffing ] [ seagulls squawking ] (pam) tonight comedian steve harvey is not apologizing for a controversial memo he sent to his staff... telling them to leave him alone unless they are spoken to directly .. the memo.... leaked by a blogger on wednesday. in it he says, he was frequently being ambushed by people at work... harvey had an open do

peter's square. >> when we watched him do this, i remember watching his motorcade, he was in a fiat, certainly one of those moments i will never forget. watching him actually get out of his car and get down onto the street and walk up to these families and children, i think that something that these families are hoping he selects them and blesses them. it is affected people's lives in such an incredible way. one of the children he approached here in new york cit new york city, the family swears that his blessing actually helped a child who was suffering from an illness. the way he touches people is something that you do not see on behalf of any person in the world. >> leland: that new york city visit was tremendous, he went through central park, so many people wanted to get tickets that couldn't do it. the city of new york diocese decided there would be a central park ride through. the pope mobile came through central park, people got to see him. earlier in the day he went through my parish. right near the u.n. we had our catechism students on first avenue, trump world tower is right

chrysler -- of fiat chrysler started his career as a tax accountant, and he is now running one of the largest companies in the world. it is all because we started with the focus to be great on something to begin with. the third thing i would say is to find something you are passionate about. something you love. find something that gives you excited. find your passion and let it. -- and live it. life is short. go for it. the fourth thing is the question of taking risk in making decisions. manage risk, do not avoid it. at this point in your life, experiment and try new things. you can do that. "i worst you can do is say, cannot decide what to do." when you say that, you are making a decision to let events take you in a direction rather than you taking a direction yourself. be proactive and go for it. number five, learn from mentors. mentors have been an important part of my life starting with my parents. you have had great faculty and staff here at adrian. it was wonderful hearing of the given to someone who has worked hard to help students. differentntors from points in your lifetime.

fiat-chrysler is now recalling one-point- three-million trucks. could disable the truck's side airbags from deploying and seat belts from tightening in rollover crashes. check our website at kron-four-dot-com for a full list of the affected vehicles. ( marty ) now to a story you will only see here on kron four. a bay area woman says her wrist was burned by a fitbit. kron four's ella sogomonian spoke to the woman in san jose and has a response from fit-bit. friday morning around 10 denielle briseno of san jose says she felt a burning sensation on her left wrist underneath her fit bit bracelet.sot: denielle briseno, claims fitbit burned wrist//"i noticed a hot feeling to my wrist and irritation, a little, a little bit of an irritating feeling. shifted the fit bit up a little, noticed a burn." briseno says she has worn the fit bit night and day since her husband bought the tracker back in december and has never had issues.sot: denielle briseno, claims fitbit burned wrist//"it came as a shock i've had no problems with it. i sleep with it. the only thi

. >> we want to bring your attention to shares of fiat chrysler. it crossed the tape moments ago. the department of justice officially filing a civil complaint against fiat chrysler for excess diesel emissions. you see the stock has been down most of the session. it got sent back down to session lows moments ago. 10.41. it's now down 2.9% on the news. we do have a news alert in the bond market. two-year notes. rick santelli, two-year yields. what does that tell us? >> reporter: well, it tells us that something did move on the budget because the budget director mulvaney while he was talking, hopefully you can see two-year note yields, they popped up. when they go up, price goes down. there was built-in concession, $26 billion to be exact. $1.316 was below the market just in the last hour. if you look prior, it wasn't. we grade it up to 1:00 p.m. eastern. if you look at all the internals they were fairly strong. 2.90 bid to cover, the best since may of '16. 57.2 on indirect. if you forget the last look at 58.9, you'd have to go back to january 16 to find a better number and the best

is there any truth about the fiat chrysler joint venture?cle company has been developing soundly in recent years p.m. we completed a -- recent years. we completed a new round recently. that is all i'm going to say today. betty: ♪ haidi: it is 12:30 a.m. in paris, 8:30 a.m. in sydney. we have futures showing the upstate -- upside close to 1%. shows -- these shares closing lower on friday. a lot of commodities. i am haidi lun in sydney. worried about the inflation trade. it is 6:30 p.m. in new york. you are watching daybreak australia through let's get to first word news with rosalind chin. rosalind: emmanuel macron is the new president of france after defeating marine le pen. he got 62% of the vote and was seen as a boost for the european union and a blow to the rising nationalism. the party leaders accepted the loss but said it was a massive success to the far right. the parliamentary elections next month, macron prepares to name his government. tonight and in the next five , i will take on the responsibility with determination to serve the

filing suit against fiat chrysler. little to shout about today.all on sterling, blu-ray asset management said sterling is headed lower, yes the currency has rallied since theresa may called the election but begins setting -- selling sterling last week. the median view of sterling dollar and the beer is 126, 3% below the current level of 129 and change. 120 is where they say sterling will end up. on friday, 130-36, 13% weaker than it was before brexit, sterling up by 5% this year. this is gold, we have a golden cross in gold. it is bullish. a bullish indicator for chart watchers. if anything happens four times in five years, typically it does mark a multiweek trend, the last time gold 50 day moving average cross the 200 and moving average was in 2016. the rally peak 16% above the 200 day moving average compared to .7% above the line at present. watch gold. moodyis a massive story, 's cutting its rating on china's debt. it challenge the view that the nation's leadership will reign in leverage on maintaining the pace of economic growth. it cited the

which allowed them to bring in a lot of the fiat cars.s opposed to the mercedes and the other german manufacturers. tom: i did this chart, the nardelli chart. for those on radio, it's a massive german export juggernaut. this is real intern exports adjusted for u.s. inflation and then we go flat and frankly, we're back to 2005. german exports don't seem to be as dominant as the rhetoric and the discourse but the processes of the businesses you helped run changed, and this interview after interview, b.m.y., where are they, stuttgart? bob: stuttgart. if you look at b.m.w. or mercedes or nissan, a lot of them have established great manufacturing plants here with high employment and again, i go back to fiat is one of the few that if you look at the fiat brand that basically is 100% import and they never would have been able to get into this country -- they could not have afforded establishing the dealerships that they inherited. tom: would mr. trump have let buy chrysler? bob: no. i think what happened during that administration, you had pelos

. >> shares of fiat chrysler he are falling amid the news the justice department is suing the automaker emission violations. they say they are different than folks like an because they continue to deny they knowingly engaged in cheating. is that is right? >> that's exactly right. we didn't learn anything about the vw case until it was already solved and california regulators extracted a confession and they announced september 2015 vw is cheating and we caught them. this has been so different because the clock was running out on the obama administration and the epa said we are pretty sure these guys have some software here that is not acknowledged, not disclosed and we are notifying them of the violation and fiat chrysler went ballistic. they were very upset. here we are months later and still no revolution, -- resolution, but another deadline is this -- several consumer lawsuits are being brought together in a california court tomorrow so the epa and justice are filing today in detroit to try to get their case added to that one. >> general motors has been hit with a class-action lawsuit

government is suing fiat chrysler. they're alleging that some of its trucks and suvs cheated on emissions tests. the justice department said the automaker used software on some of its diesel engines that allow allow allowed them to emit more pollution on the road than on lab testing. about 100,000 ram pick-ups and cheap grand cherokees from the 2014 to 2016 model years are feeling the impact of this. fiat chrysler said it did not install the software with the intention of cheating on tests. last year, the government filed a similar lawsuit against volkswagen. that company pled guilty to criminal charges and it launched a buy-back program. >>> a local woman is out one iphone and a bunch of money as the counterfeit crime unravelled. but there were several red flags along the way. police are warning against movie money which is being passed off as the real thing. >>> and the effort to safe from the luref gan ogs to take on the "tom insurance companies and the credit card companies and the wall street banks... th