that is rupert murdoch in a statement. lockland and jamesnted and competent executives and as shareholders and partners we'll strife to take our company to new levels of growth an opportunity at a time of dynamic change in our industry. rupert murdoch goes on to thank mr. chase carrie and for his friendship and counsel over the past decades. says chase carey will be actively engaged sporting lachlan and james murdoch in the new roles. expected changes coming out of the board meeting t happened from 9:00 to noon today. board members coming into the board meeting confirmed fox business a succession is on the agenda. now it is official. rupert murdoch and lachlan murdoch coexecutive chairman. james murdoch is the new chief executive officer. that happens july fist 1st, back to you guys. david: thank thank you, jo ling. new details on the prison escape and the convicted killers are still on the run after some days. more than 800 law enforcement officers looking for fugitives with roadblocks still in place. fox's rick leventhal live at clinton co

over the past several years, james murdoch, the son of rupert murdoch, was implicated in the phone hackingal in the u.k.. then called into -- it seemed as though he was back and went around this time last year or last spring or so. he was named the co-chief operating officer with his other brother. way potentially paved the for this. executive chase carey has also been someone who has talked about to take over the role. speculation up until now. it looks like now, that is more clearly the succession plan for murdoch. we do not know the timing yet of him handing over the reins. olivia: james murdoch, currently the co-coo along with chase carey, is ceo and has now been officially tapped. that is the plan. we do not know when. , stories they're interested in, we looked at the store is on the bloomberg terminal this morning and here is one we like. senatormon is taking on elizabeth warren once again. speaking at an event in chicago yesterday, jamie dimon says, i do not know is she fully understands the global banking system. these two have had an .crimonious public relationship the senator eli

up his title as chief executive of 21st century fox and he will hand over his job to his son james murdoch. still drive strategy. the international team negotiating with greece has left brussels after failing to reach a debt deal. there are key differences and now the ball is in greece's head of the european union is accusing greece of playing games with its future in the eurozone. whene day is coming someone says that the game is over. think that the upcoming euro group is really crucial. it should be decisive. have no more time. i'm absolutely sure. >> the greek prime minister is in brussels to name beaning with

the company is saying, yes, james murdoch will be the ceo of fox on july 1. alix: we do want to get straight to top stories. yahoo! ceo marissa mayer is says that the company will proceed with the alibaba spinoff. myers spoke earlier at the bloomberg technology conference. we are moving forward with the plan, based on the

he can probably slowly step back and let james step in. murdoch is kind of a wildcard. h more of an acceptable executive. you talk about this merger possibility and james fits into the time warner culture much more than a renegade like rupert does. pimm: thank you very much. it is time for the options insight. here is julie hyman. julie: let's take a look at how stocks are trading. theave seen a rally for second straight day for the major averages. they continue to gain. we had a retail sales report that showed a little bit of light at the end of the tunnel in terms of consumer spending. retail sales have been disappointing in recent months. joining me as max brier, senior equity derivatives trader at pmo capital. when you are looking at the action and expectations built into markets for what the fed is going to do, do you think there is a clay to be made here? my feeling is that expectations are leading a little bit too heavily toward a september hike. the fed would rather hike too late then too soon, given that inflation is nowhere near their 2% target. if they don't w

the timing is not clear but it looks like, according to these reports, that james murdoch, his son, would be the next in line, versus some of the other folks talked about. i see now headline the 21st century fox is commenting in an e-mail that the board would consider a session and the management will be on the next agenda. it looks like the spokes person is not commenting beyond that. we are a lot of effect on stocks. you can see it on my screen behind me. this pairownward on we will bring you more details as we have them and on any confirmation here for what is happening with the timing, if it will be with the future structure at 21st century. to look like at this time. if the stocks move more, we will let you know that as well. question is ultimately

james murdoch used to be ceo of sky. can see the trends going on, given that fox sold its stakes and sky -- in sky. i think it is more the lack. there is more chance they will take 100% control. francine: -- >> some have suggested the results were that rupert murdoch took a different view to his loyalty and his other siblings. it is interesting to see. whoever you regard as seen -- as being the successor, all three of the murdochs with no intermediaries in the way of management. it will be interesting to see that. francine: they have come back through setbacks. are they the right people to spearhead these companies? >> it has been successful. in the u k, there was a certain section of the media that -- the murdochs. they have done well on the pay-tv space and so forth. james murdoch, his first meeting came across as nervous. by the end people said it was a great shame that james murdoch was leaving. he had done a fantastic job at sky. the risk of the charge of nepotism gets thrown about. you have to look at the base of w

pimm: james murdoch.illful ignorance was the term jim related toe the phone hacking scandal in the united kingdom. is that aarti done and dusted? much done andy dusted for this american-based company. do think that the good thing about the transition is that he has had time to put that behind him. they split the publishing stuff off. andver embarrassing troubling the whole incident may have been, it did not do anything to compare -- impair his ability with investors. he had a good track record here? he has been at bskyb. he knows how to run a big business. thepublishing stuff publishing stuff was unfortunate, but people remember more what he did at bskyb and what he has done within star. pimm: this has been asia, right? >> india has been a great business. i am cautious for a lot of reasons to do with the secular changes of tv, but if you're going to be bullish on fox, you love what they are doing in india with star and he has been front and center of developing that aspect. children havethe voiced real th

maria: does it differ from what james murdoch has put in place? >> at yankee does. james has so much asked her of spreading companies. events in asia and did a phenomenal job. he did a great job fair. in many ways. he led them from being the leading video surveys to move into new areas like broad and end voice which is way ahead of any potential competition. he was very innovative and he was a great leaders there. he also had something that fox never had which was a strong capital return policy. this is a great plan for investors. james of course this next generation can do so much more comfortable in a digital age as well. maria: given his more comfortable in the digital age and digital age in more apertures using for the company goes. what about acquisitions? tell us where you think the approach of managing the company goes? >> that is what he did. they had to buy their way in. i don't think there can share with acquisitions. when you look at fox history, they are not generally buyers. they are innovative. they've got the best management in the business. vative.tor

murdoch is expected to step down. the 84-year-old ceo is expected to give the title to his son james. rupert murdoch will continue as executive chairman. if you plan on sipping a soda in san francisco, it could be the first to have health warnings on soda ads, the consumption of sugary drinks is responsible for high rates of obesity and diabetes. >>> the non-profit educational education just launched free online step for students studying for the entrance exam. the official s.a.t. practice is created in cooperation with the board. sal khan, thanks for being here today. >> great to be here. >> for those who aren't familiar, what is the khan

he is a huge fan of james murdoch.first person to have publicly endorsed james murdoch as rupert successor. if anything, he most likely feels that rupert waited too long. brendan: i want to get your read on the last 24 hours of what has been going on with twitter. the argument that we have having on the desk all morning is that top keeps talking about revenue. they need to figure out a way to make revenue. the thing that they are doing ok on revenue. they can grow because twitter is too hard to figure out. where do you fall on that? josh: i think it is aerik: i think it is a relevance problem. brendan: what you do you mea? josh: i don't think it's relevant to the people living to talk to. young people are not using twitter. they are using snapchat. twitter is relevant to us. i'm sorry, folks. we don't matter anymore. tom: this is a good point. facebook's newsfeed is a lot different than it was two or three years ago. erik: facebook is so much easier. vonnie: how can he have stakes in both companies? josh: hetom: he has

by handing over the reins to james murdoch and being cochairman with his son, i think have. i fully supported. use ago, i did nominate and ask for mr. murdoch to be in that position. i'm thankful it is happening right now. erik: how is fox going to be different under james as ceo than it has been under his father? prince al-waleed: remember that mr. rupert was still the cochairman. no doubt that mr. james murdoch will be injecting a new blood into the system of fox -- ecosystem of fox. james is young and very much tech savvy. i think with what is going on and integration of technology into the media arena, he will be playing a big role in that aspect of fox. olivia: would you like to see fox taken of the another run at time warner? prince al-waleed: i think the last time of the shareholders of time when not happy about that and the shareholders of fox were not happy about that. i don't think it's a good idea right now. i think fox has enough subsidiaries under it to grow without any mergers and acquisitions outside that sphere. erik: in other words, fox does not need t

while james murdoch would take over the day-to-day management of fox, he would work in tandem with histher. sources who have spoken with the murdochs in recent weeks tell me they have shared their plans openly and described the new roles as a, quote, partnership. a fox spokesperson said the matter of succession is on the board of directors agenda at the next regularly scheduled meeting and decline further comment. that meeting is expected i believe in the next week or so. while no one doubts that the elder murdoch will have the final say, mr. carey stepping down will leave the company without a layer of senior management separate from the family for a long time. >>> james murdoch who gave up his job four years ago has been winning fans for his work as co-ceo. as one source who knows both james and lachlan well described it as james will day on the day to tail resumer murdoch who through the murdoch family trust controls 39.4% of voting stocks at fox is not expected to change much of what he does from day to day, but the change at fox clearly an acknowledgement that the next generation

the company is saying, yes, james murdoch will be the ceo of fox on july 1.lix: we do want to get straight to top stories. yahoo! ceo marissa mayer is says that the company will proceed with the alibaba spinoff. myers spoke earlier at the bloomberg technology conference. we are moving forward with the plan, based on the understanding of a few things, the contemplated changes don't requests foriously rulings. we have filed for it well in advanced, these changes were communicated. the other thing that gives us confidence is it doesn't seem that these changes are contemplated changing the applicable law, so it is more about the processes around these transactions. said that theso planet should not be affected by regulatory changes. trumpstate mogul donald is running for the republican nomination. he launched his campaign today. he says that the u.s. has become a dumping ground for other people's problems and he vows to get tough on radical islam. >> radical islam is eating up large portions of the middle east. they have become rich. i am in competition with them

the company is saying, yes, and eight, james murdoch will be the ceo of rocks come july 1. -- fox comeuly 1. meyeryahoo! ceo morrison melissa meyers spoke. changes do not apply for request for rolling. we filed for it well in advance of when these changes were communicated. the other thing that gives us some confidence as it does not seem that these proposed changes are contemplating changing the applicable law so it is more about the processes around these types of transactions and the applicable law. alix: the plan should not be affected by potential regulatory changes. donald trump is running for the republican presidential nomination. trump launched campaign earlier today in new york. he said the u.s. has become a dumping ground for other he vowedproblems and to get tough on radical islam. mr. trump: islamic terrorism is eating up large portions of the middle east. they have become rich. i am in competition with them. they just built a hotel in syria. can you believe this? they built a hotel. when i have to build a hotel, i pay interest. they do not have to pay interest because the

james murdoch will become ceo and lachlan, the co-chairman. s news holdings include the wall street journalist "new york post," "the times of london," and 21st century fox film. murdoch will remain as co-executive chairman. >>> there's also been a change at the top of the giant twitter. dick costello is stepping down. co-founder jack dorsey is taking over on an interim basis. this morning he said he anticipates no immediate changes in strategy or direction. >>> encouraging news on retail sales sent stocks on wall street higher. americans spend more on autos clothing materials. the dow rose 38 points the s&p was 3 points higher and the nasdaq gained 5 points. >>> net neutrality will take place today as scheduled. a federal court ruled against a block in a suit by@, at&t, verizon, and others. >>> whole foods says it will call its new chain of smaller lower priced stores 365 by whole foods market. 365 everyday value is the name of its house brand. those products will anchor the stores but national brands will also be sold. the chain is scheduled t

james murdoch will become the new ceo. lachlan murdoch will become chief executive co-chairman. >>> and the judge awards a legendary hip-hop group $660 million in a copyright case. last june the beasty boys won $1.7 million in a copyright infringement verdict. yesterday's award is to pay for the group's legal fees. anne-marie? >> no sleep till the lawyers get paid. jill wagner at the new york stock exchange. thanks a lot jill. >>> when we return highlights from the world cup, and the team in baseball why they had to wave the white flag. take on the world with 100 calories, snack. yoplait greek 100. there are hundreds of reasons to snack on it. how do you get to the top of your game? give it everything you've got and leave those sticky sunscreens behind. new neutrogena cooldry sport. powerful protection designed to feel good. micromesh technology lets sweat pass through and evaporate so skin stays comfortable, while clinically proven protection keeps going strong. don't get stuck with a sticky sunscreen. stay protected and c

but also this seemingly reversal of fortunes for james murdoch.en off of bskyb just a few years ago. there was a sense that he would have to prove himself again and seemingly he has. >> four years ago, the hacking scandal engulfed bskyb. he lost the role in running that as a result of this, came back to new york, laid low. many people say listen, nobody knows the business better than he does, nobody knows the business units better than he does at this point. people tell me he's matured they believe as a leader and just in general. and digital is really been a key focus for him and of course, as it is for so many media companies who are still trying to figure it out. that is sort of where he's already made his mark and is expected to continue to as the company's ceo. >> david, can he just hand down the ceo title? granted he's got control of the shares. you know james has been in the company. but do the shareholders have any say? is there any possible squawking that will go on that carey is out, carey was a great executive. you give it to your son,

lachlan murdoch and james murdoch. rt murdoch released a statement saying in part, lachlan, james and i are delighted roger will lead key business for us and our shareholders for years to come and he has our unwavering support. lachlan and james murdoch also saying quote, roger is an incredibly talented executive and we're pleased he accepted our offer to continue his extraordinary record of success at 21st century fox. take a look at shares. we'll be right back. you probably know xerox as the company that's all about printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. with xerox, you're ready for real business. neil: on busy news day, john kerry, secretary

james murdoch was said to be significantly involved in the decision by 21st century fox to invest a decent of change in vice the multiplatform, multioutlet entity that its own kind of pirate entity run by shane smith in new york. that's not something you would have thought of fox news as investing in kind of outfit. there has been a significant dus dis trust and ill well between the murderoks' sons and ales. i don't think you'll see ales sidelined immediately. he is in his mid-70s. he's not in particularly good health and the actuarial tables favor the boys. how can they shift it to be more measured, more like sky news in the u.k., australia, and elsewhere-- that is, lively, peppy, sometimes strong voices on the air but not itself taking a strong point of view in the way fox sooemed seems to by the selection of stories and guests. those are real significant indications of where things could go. >> woodruff: i saw that roger ales will continue to report directly to rupert murdoch at least that was the early reporting. just quickly so at this point, david folkenflick, what would you say is t

james murdoch will become ceo and lack lan the executive co-chairman. fox and the news holdings include the wall street journalist, "new york post," "the times of london," and 21st century fox film. murdoch will remain as co-executive chairman. >>> there's also been a change at the top of the giant twitter. ceo dick costello is stepping down. co-founder jack dorsey is taking over on an interim basis. this morning he said he anticipates no immediate changes in strategy or direction. >>> encouraging news on retail sales sent stocks on wall street higher. americans spent more on autos, building materials, and clothing in may. the dow rose nearly 39 points the s&p was 3 points higher and the nasdaq gained 5 points. >>> net neutrality rules agreed to by the fcc last february will take effect today as scheduled. a federal court ruled against a block in a suit by at&t, verizon, and others. the rules are designed to prevent service providers like verizon and at&t from creating a fast lane for internet users. >>> whole foods says it will call its new chain of sma

stuart: one more detail tomorrow reported to give the leadership role to james murdoch is fun. e succession plan is in place. i want to tell you about roger ailes who runs fox tv networks across the board. people still reported to rupert murdoch. roger ailes founder of fox news will still report to rupert murdoch. quickly with asp.or seagull. no we don't. hold on a second. the dow industrials up 81 points. i want to repeat the succession plan for news corp. at the top has now been revealed. rupert murdoch will give a leadership position, the leadership position to his son james murdoch. i want to repeat the main point for myself. that is roger ailes will continue to report to rupert murdoch. roger ailes is the founder of fox news. he is the man who hired me and brought me into the fox company the fox family. i formerly worked for cnn and "the wall street journal" and it is roger ailes who brought me personally into this network. he will still report to rupert murdoch. >> oversees fox business network, as well as the affiliate stations of fox news affiliates across the country an

this succession plan, of course, began unfolding last year when james murdoch was brought on as co-coo and lack land as nonexecutive chairman. fox business and fox news are, of course, owned by 21st century fox, and the networks' chairman and ceo, roger ailes, says he expects to continue reporting directly to rupert murdoch. we're watching that investor reaction. shares sank a little bit, about 1% on the news, and they closed just down a little bit. guys? melissa: all right, jo. we're hearing some breaking news right now, too, that i wanted to ask you about. dick costolo, the ceo of twitter, stepping down effective july 1st. can you tell us anything about that story? >> yes. we are getting news from dow jones right now that dick costolo will be stepping down on july 1st. we are reaching out to twitter right now on this. there has been investor concern about the volatility of the stock since it went public. not too long ago. and you can see twitter stock is reacting on this news right now. there has been a lot of volatility inside the c suite at twitter as we reported on over the past y

ailes will continue to report to rupert murdoch. james and lachlan murdoch.ng just now, fox news's chairman and ceo roger ailes signed a new deal with 21st century fox. cheryl casone with the headlines. cheryl: you were talking in the show earlier about the millennial generation, well, now this. millennials have taken over the baby boomers in terms of sheer numbers. millennials now outnumber baby boomers by 7.7 million. the first time the census bureau tabulated the two generations separately. giant trans-union to make the market debut today. they've been priced at 22.50 a share and at about 4 billion. shares have been begun trading today on the new york stock exchange under the ticker tru. and of course, we continue to follow the prison break. a second prison worker has been arrested after the stunning escape of two murderers in upstate new york two weeks ago. officer gene palmer has been charged with promoting prison contraband, and tampering with evidence and conduct. and after joyce mitchell was' arre f sneaking the prisoners tools. maria: and the tools w

this after james murdoch was promoted. joining to us discuss from fox is ian whitaker.leasure to have you on "worldwide exchange." two things i find interesting, the high interest in sky, and also the price that the murdoch empire is willing to pay 18 pounds a share. that is a 17% premium to the shares they're trading out right now. that's mind-boggling. >> it is if you look at sky, sky has a fantastic reputation. it's sort of two named bidders here. slightly different interests. you've got vodafone which obviously, the feeling has been left behind in terms of the salvation of the space. buying sky would give it the major backing for the retail market. and have sky, and again, you've got a slightly different ideas of where they're going. in terms of price, there's a price at which anyone is willing to sell. the fact that murdochs are reporting for the price on this that they would say, yes, we would pay 18 pounds per share. the eventual thing is they actually named a price. suggesting that they would be billing to do a deal. >> so you're suggesting that they're willing

james murdoch replacing his father at a time to be determined. we are joined now. let me ask worst, when do you think this will happen? sometime in expect the next year because chase carey who has been running a business and for investors, is a really important character. very important person within the business, he is due to stay on until 2016. it is not clear exactly when this might happen. mark: talk to me about the timing of this, does this come as a surprise? anusha: i think the timing could be surprising, that it has been long flagged. they did elevate the tucson slashed year. the succession has been out there, it has been a succession of one. timing.teresting the results in august, this comes ahead of that. ,nalysts are suggesting maybe they might be downgraded to give james the time to get into the role. a lot on the balance sheet. so, that is good. at the conference in july, you all -- you often see them there. matt: it is interesting that chase carey when a longer be in the suite. do you think that is because the murdoch children have historically rebell

fox has named james murdoch as its new ceo.t murdoch will become executive cochairman of the company. the changes to effect from the first of july. another big chinese brokerage rushing to the market with the biggest a mystic ipo in five years. nearlye seeking to raise $5 billion. is everyone jumping on? >> they have been doing this for quiet some time. the government lifted the moratorium, and there is been a rush this year. raising $4.8 billion. the fourth major listing of more than $1 billion in the last year. previousok at the three years before that, we did not have a billion-dollar listing. with this rising market, there has been a rush. would be the largest domestic ipo in china since 2010. they gave all the regular reasons, replenishing capital, but they need to continue to fund the margin lending operations which are been booming. fivefold been a increase in margin lending, which is help to feel the doubling of the shanghai composite index of the last eight months. concern, butng also great opportunity for brokerages l

rupert murdoch to step aside as ceo at hand the reins to his son james. er murdoch anticipated to remain executive chairman. father-son loch lomond expected to be named executive cochairman. the ceo of 21st century fox's likely to stay on as an advisor to rupert murdoch. roger ailes will continue to report to murdoch. twenty-first century fox's parent company of the fox business network. shares of gap rising in premarket trading after the company said it will close 175 namesake stores in north america. gap making big plans to cut 250 jobs at headquarters. ceo says the moves are designed to ensure the chain is the right size for a changing market. this only gap with 500 stores in north america down from 72013 as the retailer has continually tried to turn things around. a rise in not planning the "huffington post." this after the company agreed to pay $4.4 billion to acquire aol. verizon and dso said the company likes all of aol's portfolio and wants to keep it together. coming up chicago blackhawks become the latest sports dynasty winning the stanley cup. w

i asked him about the changes at fox with rupert murdoch pending the reins to his son, james.e al-waleed: no doubt that mr. james will be injecting new blood into the ecosystem of austrian mr. james is young. he is very much tech savvy. i think right now with what is going on in the integration of technology arena that he will be playing a big role in that aspect of fox. erik: no great surprise there. he has been a longtime supporter news corp.. publiclye first to call for james murdoch to succeed revert as ceo. -- succeed rupert as ceo. scarlet: how long has he been calling for that? erik: i was a three or four years. we also talk to him about twitter and he said a couple of things. he said that twitter should remain an independent company and rebuild its value before considering a merger. also that it should be a public company. even with the valuation of $25 billion, twitter in theory potentially sold -- he said no. ,carlet: much more coming up including the doj pressuring big banks. ♪ erik: welcome back. it is all 10:30 here in new york city. day."s "bloomberg market scarl

in conjunction with this james murdoch, currently the co-chief operating officer will become the new avid faber reported this last week. we are just getting confirmation now from 21st century fox that lachlan murdoch and rupert murdoch will share the co-executive title and james murdoch assumes ceo role. all these are effective july 1st. chase carey's role as executive vice chairman will continue through june 30th 2016. >> thank you very much. we've known this was happening. anything significant in this report to you? >> no. we follow the media space. we follow fox so i won't comment specifically. this is a story we talked about on air for several months now. the complaints against the nepotism all are unchanged. this is part of that larger story. >> not much of a reaction there 21st century fox down a little p under 1%. >>> morgan stanley out with a list of 30 stocks to watch the next three years. just because a stop is cheap doesn't mean it's worth buying. some have sky high p/e ratios. let's bring in steve pen wellwellwell. why aren't you scared off by these high valuations? >> we

. >>> james murdoch, next ceo of fox with rupert murdoch retaining the title. he predicts digital viewers will see less interrupted ads in the future but more targeted and engaging ads. in five years, he says we won't differentiate between traditional television and streaming. much will be over the top, which is coming more quickly than ever right now. >> slowly at first and then suddenly. we may be getting in the suddenly part. >> did you see what carl tweeted yesterday? the numbers away from sports tv. >> a chart of just in the demo. year on year for the big broadcast networks. >> double digit. that really means people just saying you know what i'm watching my netflix now. i'm not watching the csi. >> it's negative. >> okay nci. ll cool jay. my daughter called him mr. cool jay. he said you can call me ll. it was like a whole bizarre conversation. mr. cool jay. >> spell that. >>> when we come back mcdonald's trying to win back some customers. we will hear what ceo, steve easterbrook said about his turn-around plans. >> later on with he will talk with citi's ch

rupert murdoch will make 42-year-old james murdoch the new ceo of 21st century fox. another son, lockland murdoch, will become executive cochairman along with his father. >>> there are new questions tonight about what bill clinton and the clinton foundation will do if hillary clinton becomes president. chief white house correspondent ed henry who's covering the clinton campaign looks at the possibilities and the controversies. >> as former president bill clinton revealed he may go so far as to step down from the family's foundation in part to help contain political damage for his wife. one of hillary clinton's rivals declared today he does not want to go negative but can't help but believe that groups paying half a million dollars for a speech were trying to curry favor with the couple. >> it's not bill clinton. i have a problem with organizations that are giving out these kinds of huge honorarium. i don't understand why they do it. i suspect they do it to garner favors. >> amid the criticism, the former president told bloomberg television if his wife is elected presi

he is expected to be replaced by his son, james murdoch. the mogul will remain on as the company's executive chairman. these changes will be made official at a board meeting next week, but it is still unclear when they will actually take affect. leon: coming up at 5:00 -- >> my life is been a beautiful story but one piece is missing. leon: cousins can be close, but these two cousins just became even closer. alison: seven on your side after a woman claims are moving company took her stuff. and then just as appeared. leon: the university of maryland approves alcohol sales at sporting events. reporter: breaking news. if he know someone using wisconsin avenue to get home they will be late. two manhole covers blowoff and the street and the d.c. fire and pepco are on the scene. some lanes are closed and it is just crawling with traffic right now. they are hoping to have power restored sometime by about 8:00, but in the meantime we understand at least a couple of hundred people in the area, 2500 people, are without power. restoration should take p

rupert murdoch will hand the reins to 42-year-old son james murdoch, currently the co chief operating officer. the elder murdoch will remain with laughlin murdoch. we'll get a full report from jo ling kent. >>> the entertainment news, cbs shares falling as it announces its own shake-up at showtime. matt blank, a friend of this program will step down as ceo. he will remain chairman. and he passes the torch to the current president david nevins, ceo on january 1st of next year. >>> now to the government throwing billions of dollars, remember fannie mae and aig, just to keep them from going under, the saga is far from over. fox business network senior correspondent charlie gasparino. >> this is going to be a huge story in a couple of weeks particularly if hank greenberg wins this case. suing the u.s. government over the legality of the aig bill, essentially a delusion to shareholders, the government, the federal government diluting shareholders like mr. greenberg and others. liz: he was the largest shareholder. >> through an entity called cb star. he said he was -- the government illegal

not official yet, it's not going to be publicly announced yet but murdoch is preparing to hand over the reins to one of his sons jameseen speculated about for literally a decade carol. murdoch is one of the most important, most influential media moguls in the whole world. he's also 84 years old and he has sons who have been groomed for this for a long time. one of his sons will be taking over 21st century fox, becoming the ceo at some point in the not too distant future. there's a board meeting next week. murdoch will be staying at executive chairman. so essentially he will have the final word still on all matters at the company. so even though it might seem like a title change it's a very important title change because it is the handing of the reins of one of the biggest media companies in the world to a new generation. >> so son james i'm searching back in my memory banks, he was in some sort of hot water with the hacking scandal. >> that's right, the hacking scandal in britain. where the newspaper was hacking into the phones of celebrities, victims of crimes. it was a terrible ethical breach over there. there was

. >> and i think very much james murdoch was inspired by our architectural offices we occupied at the time a former warehouse so that we had huge open floor space everybody was within visual or even shouting distance and i think this idea of the more you facilitate the meet tweeng people, the more exchange of ideas happens. we're also working on punching holes between the floor so we have cascades that stretch like 13 floors, you actually have lines of sight. >> rose: from 1 to 13. you will be able to see five or four floors above or below you and see them visually to undo the vertical segregation that comes from working on multiple floors. >> rose: this is what the terraces look like from above. >> trying to extend the floor tiles to the outside so that the feeling of inside outside continuity is as seamless as possible. >> rose: when you look at your buildings, would most people know they came from the same architect in the same way they might know all buildings created by frank gary has some defining similarities, richard myers some defining similar later but it's not true with you

. >>> officially july 1st james murdoch will become ceo of 21st century fox and murdoch built an empirek and news channel. sources close to the family say he'll remain actively involve helping his sons take over. >>> parents, listen up. these are the best job prospects for millennials, ages 18 to 30. list out today. advertising account executive. look at that median salary. 115 grand. millennials in high demand there. also on the list is civil engineer. computer systems analyst and data scientist and financial planner. notice the trend? science, technology, engineering and math. >>> stunning new details this morning about the woman arrested for helping two killers break out of prison as she meets with her husband behind bars. "new day" picks up that story right now. >>> despite more than 1,000 leads, still no sign of richard matt and david sweat. >> joyce mitchell warned her husband lyle mitchell that he was in danger. >> sees her husband for the first time since her arrest. >> he said that he is standing by her. >>> are you an african-american woman? >> i identify as black. >> it's not

rupert murdoch to step aside handing the reins to his son james. the older are back to remain chairman with his younger son to be executive cochairman. twenty-first century fox the parent company of fox business network. investors polled a total of $11.4 billion from 401(k) retirement plans back in 2013 according to data compiled at "the wall street journal." this is one of the first times we see with dogs exceeding the contributions. we don't have the data yet, but the? is it that continuing what does that mean. maria: it's a big story. when you see more money being pulled relative to the amount of honey going in committee recognized people are struggling. they are tapping into retirement plans way too much. >> are these people retiring or the younger people ripping the money out. >> right now the data points to baby boomers. a lot of them pushing towards retirement. they are either moving to real estate looking for the retirement home are moving it into an ira which would be as much as a negative for the investment industry. dagen: if the investm

rupert murdoch is stepping down. anchor: his son james will take over and his other son will become executive cochairman. anchor: rupert murdoch started with a single newspaper and built a vast empire. it has been embroiled in numerous scandals over the year. he will remain chairman of the company. anchor: more trouble for the fi fa president. anchor: the european parliament is demanding he step down immediately and make way for an interim leader. lawmakers voted for the resolution but he rejected the call to quit. anchor: three astronauts have returned to earth after a 200 day mission on the international space station. they made a hard and quick landing in the steps of central kazakhstan. anchor: the italian astronaut

murdoch is expected to step down. the 84-year-old ceo is expected to give the title to his son james. rupert murdoch will continue as executive chairman. if you plan on sipping a soda in san francisco, it could be the first to have health warnings on soda ads, the consumption of sugary drinks is responsible for high rates of obesity and diabetes. >>> the non-profit educational education just launched free online step for students studying for the entrance exam. the official s.a.t. practice is created in cooperation with the board. sal khan, thanks for being here today. >> great to be here. >> for those who aren't familiar, what is the khan academy. >> we're not for profit with the mission of providing a free world class education for anyone. we have thousands of videos, actually now in many languages and interactive software, students can go there, start at whatever level they, it could be first or second grade and to go to college level humanities and learn anything you want. >> how did you come up with this idea? >> it was a little happenstance, i was analyst at a hedge fund and star

murdoch will hand over ceo position of 21st century fox to his son james. first point to make her not an unexpected move. talking analysts and expected move murdoch james' brother under this plan as it is put in police place. key points to make in talking it an analyst before the show. chase kerry currently officer of 21st century fox reports say he'll leave that position a day-to-day role and assume another position at the company. how that is defined seen by the analyst is a key going forward. finally ron who runs this network and fox news channel will continue to report directly to rupert murdoch, so all of that happening today. enemy back to you a quick check of the stock it hasn't been moving down a little bit. that is our apparent 21st century fox. >> for the stocks down or concern is the chase kerry a nonmurdoch outside a figure and dominant tin fliewn cial. favored by wall street comurnl and -- scared of that. very, very respected mr. kerry, and a curious as to what the new role will be. in the mean tile b word is gaining traction right now. bubble e

not only because james murdoch will be taking over as ceo, but also because loughlin murdoch, who isly non -- co-nonexecutive chairman will take over as a co-executive chairman. i know the distinction may not seem like much but it is very important. loughlin murdoch is going to have sort of a partnership is the way many sources close to this describe it to me with his brother james in terms of running fox. of course the running of fox has also included professionals from the outside for years. first it was peter chernin for many years. in 2009 he was replaced by chase kerry. kerry is going to be stepping down as coo of the company. he will remain in an advisory capacity, at least for some time is the expectation. they'll know exactly what his role -- it seems to be hard for them to define at this point. nonetheless, we'll see carey decides eventually but lachlan and james will run this company as rupert murdoch remaining executive chairman of forks. he's also the executive chairman of news corp., manage. of which remains unchanged. so a big day in terms of the changes that will take

james will become ceo. the elder mr. murdochremain as executive chairman of the company and his other son will become executive co-chairman having a broader strategic role sources tell me at the company and working in what they call a partnership with his younger brother james who will have the day-to-day responsibilities of overseeing all that takes place at fox. the company's long time coo is stepping down from that position. he is expected to remain at the company in an advisory capacity of some sort and that appointment may continue through much of 2016. but it will remain some what unclear. all of these changes of course in many ways anticipated by fox investors. nonetheless marking a significant change in general generational management at this company. chase kerry having been coo. for fox the bigger challenges remain but many investors i have spoken with believe that james and his focus on digital is something the company will benefit from as he takes over the reigns of ceo from his father. >> that was david faber reporti

rupert murdoch will transition to executive co-chairman and will share that with his other son. jamesnew york while he will be based in los angeles. rupert murdoch's right hand man will give up that position to become executive vice chairman. he will remain at the company through the end of his contract in june of next year. in a statement rupert murdoch says it has always been our priority to ensure stable long-term leadership for this company and these improve the goal. >> they say we're both humbled by the opportunity to lead with our father and the talented team of executives at 21st century fox. this extraordinary company. he split it up in 2014. the entertainment assets became 21st century fox while the others went into news corp. the family has a 39% voting stake in both companies. wilf back over to you. >> thank you very much as ever. now we'll bring flashes on the german ten year bund. my favorite financial security. been some auctions this morning. the ten year bund the average yield 0.81. that's up from 0.65 in may. it's also the highest yield seema for a german ten year bu

and laak lan murdoch. jamesief executive giving him day-to-day control. lackland chief executive chairman. roger and he says, will continue to and always have a special relationship. roger ailes still at the home of fox news channel, fox business network and other of course properties of the fox empire. melissa: music to our ears. best boss in the universe. thank you so much. >> sure. melissa: chaos continues in france as uber and taxi drivers riot throughout the streets. wait until you hear which famous american was caught up in all of it. >>> plus the race for 2016 is heating up. the latest "fox news poll" who has the best odds of beating hillary clinton. that's next. ♪ creeping up on you... fight back with relief so smooth... ...it's fast. tums smoothies starts dissolving the instant it touches your tongue ...and neutralizes stomach acid at the source. ♪ tum, tum tum tum... smoothies! only from tums. melissa: the race for 2016 is heating up. the latest "fox news poll" may have you scratching our head. donald

rupert murdoch will be the executive chairman of twenty-first century fox replaced by his son james lachlan as executive cochairman alongside his father. listen to my financial reports three times a day coast-to-coast on the salem radio network. >>> and withdrawals from 401(k) plans exceeding new contributions because of aging baby boomer population. it's finally happened. people pulling out $11.5 billion in 2013, that ends decades of expansion for the 401(k) plans and wall street analysts say the shift could have major implications for money management firms, for the financial industry certainly. >>> up next a reality tv star joining the republican presidential field, and president obama's legacy, could be in danger again. there are perks to his job like a private concert. prince stevie wonder in attendance. stay with us. who paid for that? you wouldn't order szechuan without checking the spice level. it really opens the passages. waiter. water. so why would you invest without checking brokercheck? check your broker with brokercheck. lou: really real estate mogul donald trump announced he