you choose to write about john jay? and why should our friends be interested in? well, i first i was a practicing lawyer for a couple decades and i was living and working in hong kong when it kind of hit me that i i wanted to write a book and then i fished around for a subject. i was originally thinking about governor morris and other founding father. and i but i thought well, let's find the biographies of his friends and alexander hamilton robert livingston, john jay and i was shocked to learn that the most recent biography of john jay was from the 30s. and i bought a used copy and read it and it wasn't that good. i thought god even i could better than this. so i started, you know researching and writing. i mean jay has this amazing career in state federal and international. i mean most people today kind of know him for is role in writing the federalist papers or his role on the as first chief justice, but he's basically the author of new york's first state constitution. he's the first chief justice of new york's highe

some breaking news on jay slater.ave been found in the area where the british teenager went missing. we'll have all of the latest after this. >> plus, we have an update following human remains being found in suitcases in bristol. a 34 year old man has been charged with two counts of murder over the deaths of two men. we'll be bringing you the latest from wimbledon magistrates court >> and is the political temperature too high? nigel farage has said the rhetoric of the left is encouraging people to political violence. this is a defiant trump arrives in milwaukee, wisconsin, for the republican national . republican national. convention. >> so lots of breaking news today. we will be outside that magistrates court for that case. the human remains found in those suitcases in bristol. we're also going to be bringing you updates on the missing teenager, jay slater. the news that human remains have been found in tenerife. all indications point to it being the missing teenager, jay slater. please do get in touch . gbnews.com/y

sophie, some tragic words from jay slater's mother . jay slater's mother. >> absolutely.suspect that it was inevitable that we would get that eventually. she, of course, describing herself as heartbroken, she said, i just can't believe this could happen to my beautiful boy. our hearts are broken . that's in the past are broken. that's in the past few minutes. we've also heard today, of course , from one of today, of course, from one of jay's friends, lucy law . she was jay's friends, lucy law. she was the last person to hear from jay as far as we know. she took to instagram this morning to say honestly, lost for words. always the happiest and most smiley person in the room. you was one of a kind, jay, and you'll be missed more than you know. i'm sure you'll have your dancing shoes polished and ready waiting for us all. we all love you buddy. for us all. we all love you buddy . fly high. incredibly buddy. fly high. incredibly moving words there from jay's loved ones, from his mother, and from one of his best friends. incredibly heartbreaking news for them to have to come t

jay would have been very happy. i think indeed all the members have been very happy if family supreme court building, which we now know, i think it was built in 1790. they could've just parked themselves there and kind of had a life akin to the current justices. really, i don't know, 9/10 of their work was out on the circuits. that still the case when you get to my more recent subject, sammy chase, some of his more recent decisions as chief justice are the circuit decisions in virginia, maryland, and elsewhere. you know, j, as important as chief justice, really it's the whole life. if he had women chief justice it would not have been worth my while to write a book. you are going to get all the way from the stamp act through the marshall court. jay is alive and involved in. so it's an amazing story. if i do say so myself. >> he made a great case in your wonderful book. that's really important point for many of these people we are talking about. certainly for jay and for wilson too. if he had just been on the court. n

tell us about jay as chief justice. adams said he had long known as wilson but prefers jay. president washington chooses jay because he trusts him more than wilson. he is so esteemed and all of these ways. he did not serve long but what was he like as chief justice? >> how to put it -- i think all of these early justices suffered. there really not many cases from that period that are still cited today. i went and did some research to see if they had been cited recently. the most important case, georgia the chisolm. or chisolm the georgia, yes. overturned by constitutional amendment almost immediately -- >> yeah. >> let's let walter give it a shot and then we will -- >> yes. >> it does not get cited other than in cases about the 11th amendment. sort of cited as background. justice alito cited it recently in a dissent, talking about the reason why it was necessary to provide a neutral forum in disputes. and then as you alluded to, the camps after not long in 1794. an imminent war with great britain and washington and hamilton asking him to go to england to broker a peace treat

jay slater?ories, lots of false information being put about. the family had taken around £52,000 of go front me money which they had put into putting out a special dutch rescue team to try to find their son before this discovery was made this morning. no confirmation yet that it is jay slater. morning. no confirmation yet that it is jay slater-— is jay slater. that was a team with drones, is jay slater. that was a team with drones. with _ is jay slater. that was a team with drones, with dogs. _ is jay slater. that was a team with drones, with dogs. we _ is jay slater. that was a team with drones, with dogs. we are - is jay slater. that was a team with drones, with dogs. we are seeing | drones, with dogs. we are seeing some of the pictures of the devices used by that specialist team, who thought there was more to be done, that was the crew they gave yesterday. tell me more about what jay slater was doing there on the islands. lt jay slater was doing there on the islands. , . , , islands. it is inc

jay: the answer is no and i'm grateful for that. it is largely because i believe that what kim and i are building is unlike anything else being built in this space. it is a very intentional combination of complementary skill sets that other firms do not have. david: right now, the private equity world, it's tough to get financing for deals and so forth. are you going to do buyouts that require financing or growth capital deals, which don't need as much or any? jay: our strategy is consistent with what i have done in the past, which was unreliant on leverage. it's about great execution on value, not the marginal leverage. in some instances, when the company is can use it, we will use a little bibut it' ab getting behind the right ideas. david: when the deal comes along, i presume you are on the investment committee, is it a one-person veto if you don't like the deal? how does that work? kim: well, so far, we have not run into that issue. we respect each other's opinion and trust each other. i think culturally we have the same vision

jay powell on the hill today. you viewing that and what is your outlook when it comes to a cut? >> right. so, i actually for a while didn't think we would have a cut for this year. the recent deterioration in unemployment and the massive revision in jobs as well as increase in bankruptcies are the catalysts for a cut rather than inflation really getting down and closer to the 2% goal. that's what going to push it early rather than later. it is possible that we could see that cut within september, but more likely november and we're not going to get a lot of information out of today's meeting. >> erin gibbs, great to see you. thank you very much. one more quick look at futures. higher across the board. that does it for us. "squawk box" starts right now. >>> good morning. nasdaq and s&p with more new highs and indicated higher this morning. we will talk about a new bearish call from mike wilson who just recently abandoned his last bearish call back in may. >>> new overnight. the white house physician releasing a lett

today from jay powell.o-dollar in and reflection in terms of the french politics as the socialist reach out to macron's party, may be some kind of coalition. brent, $84 a barrel. gold posting gains at 2667. . avril hong with the data out of china in focus. avril: absolutely. we are seeing that is the driver of sentiment on the mainland benchmark csi 300 is pretty flat after the china cpi came in lower-than-expected, just highlighting how those deflationary pressures persist in asia's largest economy. potentially also leading to further expectations of a rate cut from the pboc in september when the federal reserve could also move. and this is against the backdrop of going into next, where there's going to be a big meeting with the top leaders of china and not much is expected in the way of stimulus from that third -- this is where you see the mainland movement. elsewhere in the region, given how powell sounding somewhat dovish, given how he flagged risk to the u.s. labor market but not getting anything in te

jay: first of all, thanks for having us and for being here with us. i started my investing career about 23 years ago and i had the privilege of spending almost the last 17 years working for you, as you know. i actually did not start investing in consumer businesses until i started at carlisle. obviously spent the entirety of my time doing that and in particular, trying to back great disruptive high-growth consumer brands. i have a passion for that, i believe it is the best place to invest in consumer. any experience i had at carlyle group put me in a really special position. david: you also have a clothing company, which is called skims. and you have a skincare, beauty products company called skin by kim. did you need a lot of help coming up with that name, probably not. [laughter] . two businesses, that is pretty big. you have four children. why did you think you have the time to do another business in the private equity world, how much time do you have for something like this? kim: i feel like in life you have to do things that challenge you and hel

jay: the answer is no and i'm grateful for that. and it is largely because what i believe kim and i are building is unlike anything else being built in this space. and it is a very intentional combination of two really complementary skill sets that other firms don't have. david: so, right now the private equity world, it is tough to get financing for deals and so forth. so are you going to be doing buyouts, that require financing, or growth capital deals, which don't need as much or any? jay: our strategy is consistent with what i have done in the past, which was very unreliant on leverage. in the consumer growth world it is about great execution on value croatian -- value creation plans, not the marginal leverage. in some instances, when the companies can support it, we will use a little bit. it's about gettinehind the right ideas. david: when a deal comes along, i'll presume you are on the investment committee, so is it a one-person veto. if you don't like the deal it is not going to get done? how does that work? kim: well, so far

within the week before that, sarah jay, john jay's wife through a dinner party in new york at their homewestchester county. it was all men. among the men there was alexander hamilton and james madison. i would have liked to be a fly on the wall at the dinner party to hear what the three of them might have talked about. >> was this book the a bestseller? -- the federalist a bestseller? >> i do not know how many copies it sold. maybe the judge knows. >> it was printed in two volumes. it was published in march. the second volume was published at the end of may. the printer printed 500 copies and it was not a bestseller because we know that fall, the printer wrote a letter complaining he still had hundreds of copies unfold. initially it was not, but if you are lucky enough to have one of the original 500, you are in very good luck today. >> there was this term that became used in the federalist papers. federalist 51, james madison, checks and balances. ambition must be made to counteract ambition. the interethe man must be connected with the constitutional rights of the place. it may be alec

eric jay dolin: 160,000 people were made homeless overnight. you can take a look at before the hurricane struck, with all the houses. and then after the hurricane struck, half of the houses or maybe 3/4 or all of the houses have been totally wiped away. reporter: the pictures of buildings splintered and cracked open by the storm convey more than words can ever tell. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. [music playing] john cangialosi: hurricane ian, category 3 hurricane, s

eric jay dolin: 160,000 people were made homeless overnight. you can take a look at before the hurricane struck, with all the houses. and then after the hurricane struck, half of the houses or maybe 3/4 or all of the houses have been totally wiped away. reporter: the pictures of buildings splintered and cracked open by the storm convey more than words can ever tell. when we're young, we're told anything is possible... ...but only a few of us go out and prove it. witness the greatness of anna hall on a connection worthy of gold: xfinity mobile. only xfinity gives you the most powerful mobile wifi network, with speeds up to a gig in millions of locations. and right now, xfinity internet customers can buy one unlimited line and get one free for a year. get the fastest connection to paris with xfinity. [music playing] john cangialosi: hurricane ian, category 3 hurricane, starting to pull away from western cuba. maximum winds near 115 miles an hour. [music playing] rebecca van fossen: and dave had gotten a heads-up from the dock master that the mari

jay was from lancashire. went missing, people have been tying blue ribbons to lamp posts and fencesin tying blue ribbons to lamp posts and fences in public places to show that people here were keeping him and his family in their thoughts. they were, of course, hoping for a much happier outcome than the one we now appear to be facing. me outcome than the one we now appear to be facing-— to be facing. i've known him. everyone _ to be facing. i've known him. everyone knows _ to be facing. i've known him. everyone knows everyone - to be facing. i've known him. - everyone knows everyone around here. it's a shame. everyone wants him home. everyone wants an answer, don't they? i home. everyone wants an answer, don't they?— don't they? i think it a city community _ don't they? i think it a city community hard _ don't they? i think it a city community hard around i don't they? i think it a city i community hard around here because he is a _ community hard around here because he is a local_ community hard around here b

jay later, he simply vanished.jay slater now the circumstances that ravine, the steep crevice he may have fallen down. sometimes these things happen, cleo o'flynn. because of terrain, because of topography, because of nature, because of bad fortune , because of bad bad fortune, because of bad fortune and unfortunately, because perhaps people don't realise when they visit a different country that away from the holiday zones, the area that they've flown into, that they're staying with, with their friends . staying with, with their friends. >> once you move away from an area you are in a foreign country, you will easily get lost in somewhere like tenerife. i've said this before , when you i've said this before, when you fly in and land in tenerife south, as you fly over the mountain of today, it looks like a delightfully small and easy to navigate island. it isn't . and i navigate island. it isn't. and i think we i've made mistakes when i've travelled abroad too. you think that you have the lay of the land and you oft

we exect jay slater. they have, yes. we expect more — jay slater. they have, yes.slater who is there with a big smile. next to that, there is a blue flag penance which is packed up to the side of the choir stalls and they just the side of the choir stalls and theyjust have a view thoughts of them, pray, pray, pray forthe safe return of jay slater, pray for your welfare is another. everyone here is thinking of you and your family. welfare is another. everyone here is thinking of you and yourfamily. now that we do have that official confirmation, we do anticipate more people will come here a little later on to pay their respects. there is also actually, on the camera we can show you a couple of the bunches of flowers which had been laid. as i said, this building becoming a real focal point for the community, somewhere which they can pay their respects but also a community that still want answers, they still want to know how this young man went to tenerife and how he lost his life. thank you very much indeed. just a reminder, that is the update for now. the body and t

jay, you stay safe. very good to see you.hank you. >>> coming up on "worldwide exchange," apple and tesla are two stocks powering the latest rally in tech. our next guest has some ideas of what will power the next gains. >>> if you haven't already, follow us on our podcast with your favorite podcast apps. stay with us. we'll be right back after this break. my other daughter. cancun! jamaica!! why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. can we get out of here? i thought you'd never ask. join 18 million americans and take control of your financial future with a real time dashboard and real life conversations. empower. what's next. tony, its gone. no. how am i going to do this? welcome to the mdy mid-cap cup, presented by state street global advisors. today's challenge is to play 9 holes without the middle of your bag. how does that sound? that sounds terrible. ♪♪ ♪♪ ♪♪ ♪♪ they started as dreamers. but today, they're stars. follow every moment of team

jay slater was 19, a young man, but sad news. jay slater was 19, a young man. but his — sad news.ung man, but his mother stella - sad news. jay slater was 19, a young | man, but his mother stella described him as her beautiful boy. 0ur him as her beautiful boy. our hearts, she said are broken. fiona trott, bbc news, tenerife. donald trump has been given a hero's welcome at the republican convention in wisconsin, his first public appearance — complete with a white bandage on his ear — since surviving an assassination attempt. mr trump was made the official republican candidate for november's us presidential election at the event where he named a 39—year—old senator — jd vance — to run alongside him as candidate for vice president. 0ur north america editor sarah smith was there. unusually emotional, almost vulnerable. he walked among them, the great survivor appearing unbloodied withjust a bandage on his ear. he didn't speak, just seeing him was enough for his followers. welcome to the church of trump. chanting: usa, usa! what a reception this is. donald trump being treated like som

to doing a few deals with jay when he was at the carlyle group.o, for about 10 years we had conversations, whether it was, there was something we were going to do, or people close to us were going to do, and i was privy to all of those conversations. so we finally, you know, had the conversation that we should really get into business together. and it has been a fascinating process. david: so, the name of your firm is skky partners. sky is usually spelled s-k-y. yours is s-k-k-y. how did you come up with that name? [laughter] kim: you know, we had to have a little bit of influence. i thought the s for sammons and kk for kim kardashian. david: it worked out. kim: it worked out, it made sense. david: you've been exposed to private equity for a little bit of time. you've met investors here and around the world and so forth. what is your view of the private equity investment community? the most honest people you have ever met? kim: very, very nice people. [laughter] i actually have been introduced to the world. a lot of my friends growing up, they are

top of the first blue jays already up by 2 danny jansen. takes jordan hicks to left capping off a three-run first inning for toronto. bottom of the frame, same score. giants answer right back. eliot ramos. that's a golf swing. but it's affective. ramos has been so good this season. giants get to within a run. top of the 5th now jays up by to spencer horwitz. he got that one. look beautiful. it is out there. by the way, no doubt about it. that extends the blue jays lead to 3 now former giant kevin gausman. he had a solid outing for the jays here he gets michael conforto looking. the only stain guys men's day was ramos is 2 run homerun giants fall 5 to 3. they had only one at-bat with runners in scoring position the entire game after the game. bob melvin said, look, all we can do is get ready for the all-star break. go into that all-star break with so momentum. so that means going into a series with the twins who have been playing really good >> we have 3 key games. >> you know, we we get right to right to the 500 mark and we lose a couple ga

sending lots of return of jay. sending lots of love to jay's family.ages. however, today that hope seems to have all but ebbed away following the news yesterday that human remains had been found close to the location where jay was last known to have been, where his phone had last pinged. ben, you said there there was also his clothing and his possessions found with those remains. we are waiting still for that formal identification, but it does seem that all signs are pointing towards that eventuality. now, tonight at the methodist church here in oswaldtwistle, there will be another service. but as i say, rather than messages of hope tonight it seems there will be messages of condolence with the community coming together to show strength and support jay's loved ones. we spoke earlier to the reverend of this church to find out how important that community spirit is. at times like this, we're here now. three and a half weeks on. there was the news yesterday that remains have been recovered. what's what's the atmosphere like now, >> obviously we're just de

the first investigation said preliminary — jay. the first investigation said preliminary examination of the jay. the first investigation said i preliminary examination of the scene suggests the person, presume to have been jay, suggests the person, presume to have beenjay, could have suffered a full oran beenjay, could have suffered a full or an accident in a particularly inaccessible area. that was subject to further examination. the spanish equivalent of the coroner will have to look at the scene and any evidence that can be gleaned from the body itself. spanish police released a short video yesterday showing the general area where the discovery was made. you can tell from the area it is pretty formidable, it is like a slope with shrubs and plants and sharp kind of steep rock, almost like caves. you can see how the body could get in. how jay ended can see how the body could get in. howjay ended up there will probably become clear in due course. i how jay ended up there will probably become clear in due course.- become clear in du

jay: i think it goes beyond looking at the ag. what you are seeing with investors is there indexing the core of their portfolio. they are looking beyond to supplement it either with specific outcomes or to outperform the market. if you go back over the last 10 years, it has been a great beta fueled rally. a fantastic trade to have exposure to the s&p 500 and the ag. elf is going to be a more important part of peoples portfolios to meet their objectives. katie: the nasdaq 100 following 3%. biggest intraday decline since december 2022. i do want to quickly ask you about buffer etf's. they have been very popular. ishares has one as well. some people have marketed these in talked about these as bond replacements in your portfolio. i hear something like that and i have questions. it is a big claim. how are you thinking about buffers? is ishares thinking about these as bond replacements? jay: one of the biggest use cases is bringing people back into the markets. you still see $5 trillion being held in cash or money market funds. a lot o

jay was from oswaldtwistle, here in lancashire.ing blue ribbons to lamp posts and fences in public places to show that people here were keeping him and his family in their thoughts. they were, of course, hoping for a much happier outcome than the one we now appear to be facing. it's a shame. it is, it's bad. everyone wants him home. everyone wants an answer, don't they? i think it's hit the community hard round here because he is a local lad and he's well—known. i feel sorry for the family going through this. i know every effort, people going over, especially our local fire service going over to find him. it has hit hard. like so many young people, jay headed to tenerife for the nightlife. his disappearance led to some disturbing conspiracy theories, but his body was found near where his mobile was last used when he called friends to say he was walking the many miles back to his resort. danny savage, bbc news. fiona trott has just arrived on tenerife. we can join her live. fiona, there are still many unanswered questions despite th

that lead was jay slater went for a walk, a long walk. huge amounts of manpower. meanwhile, amounts of manpower. meanwhile, a lot of people saying, well, what about the apartment where it seems to have all started and now, all these days later, joe, it seems to have flipped back to their rather embarrassing sight of detectives going in in protective forensic outfits. whereas the last two weeks there's been more or less open season on that property , season on that property, tourists from all around the world have been flocking there for selfies. do you think this latest revelation, flipping back to where we started , almost is to where we started, almost is something of an embarrassment for the authorities in tenerife? >> well, it just seems strange that this building wasn't sealed off immediately. it appeared to be from the spanish point of view, from the spanish authorities point of view, that this was definitely, a boy that had gone missing in the mountains and everything else seemed to have been ruled out. so it's. yeah, it's kind of

they look to bounce back and get a series win against the blue jays.att chapman fans. is that a violation wearing a toronto blue jays? matt chapman, you're easy. top of the first blue jays already up by 2 danny jansen takes jordan deep right over. that banner sign capping off a three-run first inning for toronto. bottom of the frame, same score. giants answer right back. eliot ramos having himself a season. that is gone. 2 run dinger. its giant within a run. top of 5th blue jays up to spencer horwitz. oh, yea. he catches up to that. won it. we've got a beautiful was out there today. quite going to the cove that extend the lead to 3 former joint kevin gausman. we all wanted the to re sign him. they showed up. here. he gets the strikeout on come only stain on his outing with ramos is 2 run homerun in the first giants fall 5 to 3. they had only one at-bat with runners in scoring position the entire game. the open up a series with the twins tomorrow. meanwhile, the a's also looking for a series win against the red sox at fenway county. here bottom of first

jay powell is set to speak at the ecb annual summit of central bankers.eisen will be there and monitoring the discussion with powell. sara, good morning. >> reporter: good morning, frank, from sintra, portugal. it is a fascinating time to talk to central bankers because they are all moving a different speeds. they all pretty much hiked interest rates in the past few years to fight inflation. now comes the exit. europe cut rates in june and as we heard from the ecb president christine lagarde last night, she is not promising the markets necessarily they are going to keep cutting. listen to what she said. >> it will take time for us to gather sufficient data to be certain that the risks of above target inflation have passed. the strong labor market means that we can take time to gather new information, but we also need to be mindful of the fact that the growth outlook remains uncertain. all of this underpins our determination to continue to be data dependent and take our policy decisions meeting by meeting. >> reporter: the signal there after a cut in june,

jay powell speaking in portugal.ay powell: we want to be more confident that inflation is moving down before we start the process of -- of reducing our policy, loosening policy. because the u.s. economy is strong we have the ability to get this right. tom: indeed. let's bring in mark greenfield for the -- mark cranfield. mark: he may well himself have an idea that he wants to lower interest rates but you can see traders are not taking notice as avril showed. dollar-yen is stronger so certainly the strength of the u.s. dollar does not suggests that rates are coming down. they seem relaxed, they believe in a strong dollar. yields are not down a great deal and it is no wonder because jerome powell sounded confident inflation would come down into the target range and we were thinking about a rate that. that did not happen, inflation numbers came in and people are thinking until we see hard evidence in the cpi we will not get excited, even though powell macy's something traders have not seen. in the background you've got

this is the area of tenerife where jay slater was last seen alive.nd possessions. jay was 19 years old, and had been holidaying with friends when he vanished last month. a huge search was launched for him by the authorities on the island. drones were sent into the air to assist mountain rescue teams, but the official search was eventually called off when no trace of him was found. they now believe he could have fallen in the steep, inaccessible area where a body has now been discovered. these pictures have just been released of a deep deserted gorge where rescuers found who they believe to be jay. a statement from the civil guard on tenerife today says, "all indications indicate that it could be the young british man jay was from oswaldtwistle, here in lancashire, and ever since he went missing, people have been tying blue ribbons to lamp posts and fences in public places to show that people here were keeping him and his family in their thoughts. they were, of course, hoping for a much happier outcome than the one we now appear to be facing. i've kno

to tenerife and why young jay went to tenerife and lost _ and why young jay went to tenerife and losthis life.— and lost his life. nickjohnson, thanks very — and lost his life. nickjohnson, thanks very much, _ and lost his life. nickjohnson, thanks very much, and - and lost his life. nickjohnson, thanks very much, and thanks| and lost his life. nickjohnson, l thanks very much, and thanks to and lost his life. nickjohnson, - thanks very much, and thanks to guy hedge coen tenerife. gareth southgate has resigned as the manager of england. his departure comes two days after england lost to spain in the euros final. southgate said it was time for change. the football association said that southgate had transformed the england team over the last eight years and delivered unforgettable memories. gareth southgate led england to back—to—back finals of the euros — but fell in the final hurdle in both 2021 and 2024. the prince and princess of wales have tweeted, saying... "thank you for creating a team that stands shoulder to shoulder with the world's finest in 2024. thank you for showing humili

jay is with us.his is a company putting out real numbers, just this morning, they now expect more than the maximum growth and had it guided towards previously. was that a buy for you yesterday? jay: they were. you live by the sword and died by the sword. if you are up 20%, you pull back a percent a day and that is normal. the point you are making is fundamentally these are solid, fast, rapidly growing stories which are unique in the world for you are talking about forecasts made a couple months ago and already beating and raising them. this is the story we have seen with nvidia and other chipmakers involved in ai for a year now you have a massive moves but the stocks are actually cheaper now than they were a year ago because earnings have outpaced the stock price appreciation. we have been and continue to be believers in ai and the idea of the pick and shovel. and that is the semiconductor space. when you have pullbacks, those are opportunities. jonathan: this is what we have been rotating away from.

now hope for jay's safe return. evening, there will be another vigil held here this evening , the doors here this evening, the doors opening at 7 pm. for members of the community to gather. but unfortunately the tone will be a rather different one. instead, it will be a case of them offering support to the members offering support to the members of the community that attend in what they're describing as a devastating time. now this, of course, comes the news yesterday that remains have been found close to jay slater's last known location in the masca village region of tenerife. and of course, incredibly devastating news. we are still waiting for that formal identification. as isabel said, there , whilst isabel said, there, whilst there's an autopsy ongoing, but we do know that those remains were found close by to jay's possessions and his clothing. so those are some things that we're waiting on confirmation on. but here are a few things that we do know for definite. we know that jay was in tenerife attending a music

jay slater was _ him, it has hit hard. jay slater was last - him, it has hit hard. ja.ving a b&b in the north of tenerife, having spent the night partying with friends. we caught one of them as he set out to say he was about to begin the a0 kilometre walk home, but his mobile was about to die. that was the last time anyone heard from him. local authorities began a major search operation in very difficult terrain. but it wasn't the rugged landscape that made the job difficult. there was huge public interest with conspiracy theories springing up online. the spanish police had said they were calling off the search, but it seems it continued away from the public eye.— from the public eye. they are not telling — from the public eye. they are not telling us _ from the public eye. they are not telling us the special - not telling us the special mountain search and rescue section continues to search. they kept up the search and were focusing very much on the zone around which jay slater was initially known to have been before we went missing because the body, if it is his, was

he says jay powell is safe which is important because he has talked about replacing jay powell. now saying he would let him finish his term, talking about interest rate policy. he is saying they should not cut rates before the election. there may be a political readthrough but he is saying jay powell should finish the term. jay powell cut interest rates off the back of the introduction of tariff policy from the trump administration. tom: he is comfortable keeping him if jay powell does a good job. kriti gupta with the break down if he wins in november. thank you. elon musk will relocate headquarters for x and spacex. he said the announcement is frustration with a long related to transgendered children. elon musk endorsed donald trump and pledged tens of millions of dollars to his campaign every month. russia and ukraine are swapping prisoners in a deal facilitated by the uae, the sixth managed by the goal state. if it goes ahead as planned. they have swapped almost 1400 prisoners so far this year. hsbc appointed giorgio henry as the new chief executive, picking insiders for the

all this looks and feels very different to the place jay knew.ng hope. tonight they are coming together to remember. the message to them is stay strong as strong as much as you can, know you are loved by the communities surrounding and that is evident from the last week watching that jay would come home and be found, and nowjust wishing you can continue with this sad news. jay slater was 19, a young man, but his mother still described him as her beautiful boy. our hearts, she said are broken. fiona trott, bbc news, tenerife. the first minister of wales, vaughan gething, is to stand down afterjust four months in the role. this morning four of his labour ministers quit the welsh government, telling mr gething they could not get on with the job unless he resigned. mr gething had lost a vote of no confidence last month, and had faced questions about a £200,000 donation he took while running to be welsh labour leader. 0ur political editor chris mason reports. just when you'd be forgiven for thinking politics might be quietening down a bit, this. i hav

she just wants to know what's happened to jay . nothing wants to know what's happened to jay.s happened to jay . nothing is clear. there's jay. nothing is clear. there's conflicting reports from even the friends that were here with him . nothing is adding up. him. nothing is adding up. nothing is making sense. at the end of the day, we have a poor mother and father who have come out here to look for their son. and they just want answers. >> nick, just tell us. on a personal note, you're one of the airline's top global reporters. you travel the world chasing stories. i know you worked quite closely on the madeleine mccann story as well. what's it like working on a story of this magnitude where the media attention just builds and builds? and also, as i said from a personal note, you're away from your family and your kids for such a long time. >> yeah, well, this is i think it's now official. i've been the longest reporter that's been here since this all started. we got here on the wednesday , which got here on the wednesday, which is two days after jay disappeared and. yeah, sti

nbc jay gray joins us now from the coast right in the path of the storm. good morning, jay. tell us what you're seeing. >> reporter: you talk about the wind has picked up significantly the last couple of showers. it is dramatic here in the bay and it is only going to intensify. we got a spitting rain at this point but water is going to be the primary issue. we are seeing that rain pick up as well as this storm inches closer to the coastline. beryl becoming a category one overnight simand that is after separate landfalls and the storm is intensifying in the warm waters of the gulf. we are watching over the next couple of hours that the storm to keep moving. if it lingers it will only grow stronger. the storm is moving at a pretty good rate. the issue may become the rain, water in the houston area. that is an area that deals with flooding, significant flooding every year and this could bring enough rain to cause problems there. obviously, right now, we are continuing to watch these conditions, again, with everything growing and intensifying at this point and this is only the b

jay's mum for the past 17 years or so, since jay would have been about two years old.if the remains found in tenerife are jay's, he knows it will replace community apart. fiur replace community apart. our re orter replace community apart. our reporter nick _ replace community apart. our reporter nickjohnson in the town where jay is from. let's speak to guy hedgecoe, our reporter in spain. talk to me a little more about the investigation, what we are hearing and when we expect to hear from those in the search and rescue operation who say they have found those remains? the operation who say they have found those remains?— those remains? the body that was found yesterday _ those remains? the body that was found yesterday by _ those remains? the body that was found yesterday by the _ those remains? the body that was found yesterday by the police - those remains? the body that was found yesterday by the police is i those remains? the body that was l found yesterday by the police is now in the hands of the local forensic authorities here on the island, they are carrying out a

here is jay powell. >> good afternoon. and i remain squarely focused on achieving our dual man tate goals of maximum employment and stable prices for the benefit of the american people. our con has made considerable progress towards both goals the past two years of the labor market hats come into better balance and the unemployment rate remains low. inflation from a peak 7% to 2.5s. we're strongly committed to returning inflation to our 2% goal in support of a strong economy that benefits everyone. today the fomc decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings. we are maintaining our restrictive stance of monetary policy in order to keep demand in line with supply and reduce inflationary pressures. we are attentive to risk on both sides of our dual mandate and i will have more to say about monetary policy after briefly reviewing economic development. recent indicators suggest that economic activity has continued to expand at a solid pace. gdp growth moderated to 2.1% in

that is the testimony by jay powell in congress. eyes on what sort of rhetoric he will choose to give congress members today. of course, we heard from him not too long ago in sintra where he said the west needs to cut deficits sooner rather than later. i'm highlighting that comment because we know the fed is very careful to not sound political as we approach the u.s. election in a couple of months time. the fact he chose to address their concerns on the fiscal position of the united states is a position who is in the white house. i want to take a look at movements in europe. stoxx 600 is trading slightly lower. it is a mixed picture across the boards in europe. however, i have take you to the cac 40 in france. down at this stage .4%. yesterday, the cac 40 dropped 0.76% 0.6% on the day as investors are looking at the election and the outcome was not the worst possible scenario. we did not see the absolute majority for the far right or the far left. the hung parliament is still now posing questions about the future fiscal position for

jay slater went missing on june 17, to that. jay slater went missing on june 17. this _ to that. jay slater went missing on june 17, this was the morning - to that. jay slater went missing onj june 17, this was the morning after he had been out to a music festival in a such a different parts of the island to where he was staying north—west of the island. he returned to his accommodation in the north—west of the island in this area of masca which is this mountainous volcanic area of the island, quite remote, but there is a town the, and he was spotted early in the morning, relatively early in the morning, and a woman is believed to have been the last person who saw him and she said the time a bus was about to come past, she was giving him some information about that even though he didn't speak spanish. a friend of his did receive a phone call from him at some point that morning where he said the battery on his phone was very low, he did not have any water left and he was lost. that was the last sighting, last sign that the authorities had of him. after that, the police embarked on

the testimony for jay powell and the inflation data out of the u.s. tropical storm beryl is barreling down on texas. french markets on edge. the new popular front secured the most seats in sunday's parliamentary elections. macron's party came second. the far right national party had been forecast win but in a shock reversal came in third. let's get more on what fed in to the results. it is unprecedented for france and the moves last week played in the favor of meg ryan to the detriment of the national rally. you could hear how angry some of their leaders were. how do we get there and where do we go from here? >> some were skeptical that the national front would have a rally. in the end you had more than 200 candidates -- a lot of left and macron supporters voted for the candidate facing the national rally and in the end the national rally did pretty poorly. first came the new popular front. what is interesting to look at exactly how many members of the far left are within the new popular front. about 75 out of 180. we will see at the new popular front

it all looks and feels very different to the place jay knew. to bring hope. tonight, they came together to remember. i used to go out with him round town, and he was such a lovely lad. it's really upsetting. he was just so lovely. he was a really good friend and ijust want him to know that we all miss him. jay slater was 19, a young man, but his mother still described him as "her beautiful boy". "our hearts," she said, "are broken." fiona trott, bbc news, tenerife. let's take a look at some other stories in the headlines. the deadline has passed for ukrainian men aged between eighteen and sixty to update their personal data. those who don't, risk fines and possible prosecution under april's mobilisation law. earlier, queues formed outside enlistment offices. ukraine's defence ministry says more than four—million men have updated their data so far. at least four pakistanis and one indian national have been killed in a shooting near a shia mosque in the capital of oman, muscat. thirty other people have been injured. the shooting happened as peopl

jay was from oswaldtwistle, here in lancashire.eople have been tying blue ribbons to lamp posts and fences in public places to show that people here were keeping him and his family in their thoughts. they were, of course, hoping for a much happier outcome than the one we now appear to be facing. it's a shame. it is, it's bad. everyone wants him home. everyone wants an answer, don't they? i think it's hit the community hard round here because he is a local lad and he's well— known. i feel sorry for the family going through this. i know every effort, people going over, especially our local fire service going over to find him. it has hit hard. like so many young people, jay headed to tenerife for the nightlife. his disappearance led to some disturbing conspiracy theories, but his body was found near where his mobile was last used when he called friends to say he was walking the many miles back to his resort. danny savage, bbc news. the king and queen are in jersey on a two day visit to the channel islands. buckingham palace have also

they also a court jay slater.okesperson confirmed that documents found by the by the remains also belonged to the missing 19 year old. now, you read that part of that statement from jay's mother, debbie duncan, out there . she's been duncan, out there. she's been out in tenerife now for the past month, desperately trying to find any lead of her missing son. she, as you say, says she's heartbroken. she said i just can't believe this could happen to my beautiful boy. i think that incredulity, of course, this was jay's first holiday away from his family. he went out there with friends to enjoy a music festival. i don't think his mother or any of his loved ones would have ever expected that this would be the outcome. we've also heard from one of his closest friends this morning, lucy law. she was the last person to ever hear from jay. he rang her around half past eight on monday, the 17th of june, to tell her he was going to attempt that walk back to their accommodation. that we now know would have taken him around 11