kate kelly, kpix 5. >> and you can nominate your local heroes for a jefferson award online at kpix.com. click the logo at the top of the page, then jefferson awards to find the email nomination form. >>> there may be relief for all the sneezing and coughing, the science behind a cure for cat allergies. ,,,,,,,,,,,,,,,,,,,, it is part of the "so-be 3-d worlds of flavor" tour. m is >>> a world-renowned 3-d chalk artist is installing a tropical paradise in oakland. it's all part of soby 3-d worlds of flavor tour. the artist is creating artworks in front of the oakland coliseum but if you look at the pieces from the right angle, they come alive. >> we use an anamorphic technique to allow us to appear these 2 dimensional images that will be 3-d. >> she is creating new pieces every day. she will be there until sunday. >>> for those allergic to cats there could be a cure. the "daily mail" reports that a cure could be ready within five years. cat allergies are generally caused by the animal's skin particles. researchers examined the proteins inside and figure out how they affect the human immu

kate kelly, kpix 5. >> you can nominate your local hero for a jefferson award online, kpix.com, clickhe logo at the top of the page and then jefferson award. then find the email nomination form there. >>> another cool day in the bay. how about a nice cool treat to go with it? 7-eleven is marking its 86th birthday with its annual free slurpee day today. it's the perfect day to celebrate because it's 7/11. you can get your 12-ounce freebie at participating stores between now and 7:00. used to be a slurpee vendor many moons ago. >>> tony tantillo and stephanie join us with a tasty treat. >> with all this beautiful watermelon out there, steph and i decided to make something special. >> we decided to make a pico de gallo. >> i have done it with tomatoes but never watermelons. we are going to put it inside the bowl. what's next? >> add some yellow bell peppers. >> okay. >> orange bell peppers. >> a lot of color in this dish. >> peppers on peppers on peppers and red bell peppers. >> each pepper has its own flavor and texture. >> cilantro which i will be pretty generous with. >> you want to m

our kate kelly joins us now to explain what's behind the lawsuit. kate?> reporter: bill, the hedge fund perry capital is suing the treasury and federal housing finance agency over a 2012 measure that eliminated future gains in the investments in fannie and freddie. perry, which manages about $9 billion, bought a substantial amount of preferred shares in 2010 with the expectation they'd pay off handsome dividends. as it turns out, they have, in the form of a $66 billion payment to the treasury just last month. the largest dividend on record. but they and other investors aren't sharing the pot. as part of the government takeover of fannie and freddie in 2008, they were expecting an annual 10% dividend once the agencies returned to the black. but under a 2012 amendment to that act, known as the sweep amendment, that profit sharing was eliminated with only the treasury benefitting. perry now argues that the sweep amendment undertaken by the treasury and the fha was arbitrary and wrong and it amounts to self-dealing by the government that destroys billions in

kate kelly, kpix 5. >> and you can nominate your local heroes for a jefferson award online at kpix.comthe logo at the top of the page, then jefferson awards to find the email nomination form. >> paul is here. the humidity is gone. >>> we're looking toward the weekend, it looks good. >> weekend looks really nice. kinds of a difference between two days. if you like it warmer we have a day for you, like it cooler, got a day two. this just in the weekend is two days long and the weather will be different between the two. >> the weather at the golden gate, we had sunshine at ocean beach and along the coasts at the peninsula today but that onshore flow is working its way back in like the tide. it's coming in now. a lot of traffic trying to get into the city. we're sunny in oakland, piedmont and emeryville. oakland currently 74, beautiful day there. san jose a very comfortable 80. less humidity in concord, 87. the hotspot today livermore at 91 degrees. another dry july rainfall in the bay area, zero, but guess what, that's not even below normal because normal july rainfall is zero. the foreca

reporter: bill, this afternoon, a noticeable tick down in some financials and bulls can blame our own kate kelly stricter leverage rules will be announced tomorrow. the fdic expected to raise the key leverage ratio for banks to 5% from 3%. banks did move lower as the headlines crossed, but did manage to move off the lows. in the s&p, financials do remain one of the top-h performer sectors. back to you. >> let's get reaction. joining us is rbc president and ceo gordon nixon here on the set with us. welcome. >> great to be with you both. >> it's great to hear from you. and just before we get into the business, i just want your reaction to the latest news about the potential 3% ratio. >> you know, i think it's not a bad thing. we've always operated with leverage ratios in canada, i think it was one of the things that served canada well going into the financial crisis. we have a 20 times leverage ratio, which is the same as a 5% equity ratio. and i have actually argued often and internationally that, you know, higher capital levels is not necessarily the be all and end all, and having leverage caps

kate kelly, kpix 5. >> you can nominate your local hero for a jefferson award online, kpix.com, clicklogo at the top of the page and then jefferson award. >>> what's the hottest weather you have ever been in? >> 125. >> 113. >> myself 118 in phoenix, arizona. but the all-time record was set here in california. this is file video not from 1913. 100 years ago, july 10, 1913 the all-time hottest temperature ever recorded was set in death valley. 134 degrees. 134 is the record. right now in san francisco, about half that if that at all. oakland 67. a breezy chilly foggy 58 degrees in san francisco. warm spots include concord and livermore. so much cooler than yesterday. low 90s yesterday. >>> as high pressure moves out it's bringing up tropical moisture. if you go to the central valley towards fresno you may see a few showers. they will miss us but there's an increase in cloud cover in the south bay and toward monterey. it will be foggy and cloudy in the morning. lots of after sunshine and high of 68 tomorrow and for friday. high pressure is slowly beginning to move away. it's a two or th

tom costello went through a very life-like simulation but meantime kate kelly and some breaking news. >> tieler, we've just learned that federal regular haters are going to announce stricter capital restrictions on u.s. banks as part of an fdic backed plan. the banks will be requires to hold leverage capped at 5% of their total assets. this is a tougher standard. other reports suggested it's 6% and we're understanding it's five that will make it easier for them to weather storms in the market and if capital and cash are necessary to get through tough times. that's the hope of the fdic and the fed. >> i'm sure it is. we'll watch the financials very closely to see what the reaction is. >> overseas, 51 protesters, mostly supporters of mohamed morsi, were killed in fighting outside the republican guard headquarters. what can we expect this evening? cbs's yousef dpamal el din is live from cairo for us. we not this is a crucial our in cairo. what are you expecting this evening? >> a very bloody 24 hours. it's shocked the country and shocked the world. >> you wednesdayed the violence. 51 peo

. >> kate kelly taking a closer look at wall street's watch dog. >> scott, he's a kanye west hopeful anti-corruption crusader and the toughest cop on wall street. it's pete bharaaha, of course. i'll tell you more when we come back. ♪ norfolk southern what's your function? ♪ hooking up the country helping business run ♪ ♪ build! we're investing big to keep our country in the lead. ♪ load! we keep moving to deliver what you need. and that means growth, lots of cargo going all around the globe. cars and parts, fuel and steel, peas and rice, hey that's nice! ♪ norfolk southern what's your function? ♪ ♪ helping this big country move ahead as one ♪ ♪ norfolk southern how's that function? ♪ chalky... not chalky. temporary... 24 hour. lots of tablets... one pill. you decide. prevent acid with prevacid 24hr. you decide. faso you want to save on autoof insurance?. drive a hybrid. get good grades. lose the bling. go paperless. combine policies. make automatic payments. and of course, talk to farmers. hi ♪ we are farmers bum - pa - dum, bum - bum - bum - bum♪ ever are farmers bum - pa - dum, bum

kate kelly is in the thick of it. give us the highlights, because there are so many. you need to pick out which ones are important for us. >> that's absolutely right, mandy. it's been an interesting day. the equity bulls are back this year, but they sound a bit tapered, if you will. they still like stocks although research continues to matter. that's not a surprise. returns may be more muted this year according to cooperman. on the fixed income side, many people say they were just as surprised as the rest of the market at the back up in rates and how fast it moved and that further hikes may be in store and may continue to surprise the broader market. still, housing has gains in store, according to john paulson. the reformed housing bear, who told us in the first-ever television interview he's as convinced as ever that he'll make money on a residential housing long as convinced -- i should say -- as he was about his subprime short. and, of course, there have been numerous stock in sector picks throughout the day. jim chanos made waves, arguing the market has underestim

let's bring in now kate kelly to break down son-in-law of the headlines fr headlines.ulson's keynote is about to start. we have heard from jack lew and also richard perry along with preet bharara today. >> one of the most interesting moments i thought this morning was, of course, as you mentioned listening to u.s. attorney preet bharara talk about what he's been doing of late. there were questions, of course, about his case against sac capital. he issue what had appeared to be a series of warnings to them and any other perceived wrong doers without actually commenting directly on them. during the course of a half hour he told jim cramer that despite the words to the contrary from other justice department officials, nobody is too big to jail. that was definitely one of the big takeaways and the statutes of limitations or the time period within which he must bring certain cases is actually longer in many situations than some people seem to think. on bank fraud, wire fraud, and other types of fraud. that no matter how careful you are, just about any method of communicatio

many things, kate kelly. here a big one. a reported $136 million worth of diamonds stolen from the hotel in the french riviera, that's right, how could it happen? was it an inside job and what about the legendary pink panther thieves who coincidently just got out of jail? sounds like a movie plot, but it's real and we have the story with the world's top diamond business expert next up on kudlow. "first day of my life" by bright eyes you're not just looking for a house. you're looking for a place for your life to happen. >>> welcome back to the kudlow report. in this half hour, just how many jobs will be building the keystone pipeline, how many will they create? president obama sneers, he says it will just be 2,000 jobs. but is he even in the ballpark? we'll take a much closer look. and how are stocks looking as we begin this crucial week? we'll look for a preview from adam parker in just a few minutes. but first up, it was the setting for the 1955 hitchcock classic to catch a thief. that starred cary grant as a burglar along

kate kelly is here on what we should be looking for. >> that's right. scott. these have been huge winners over the past several years since the passage affordabling a gave 1 trillion of new spinning. that's supposed to be outdone by some savings. anyway, a trillion in savings him health care has been up across the board with bio tech and insurance names up by triple digits. but things have gotten choppier of late, also because of political developments. last week the administration put off a key obamacare employment mandate. some won't occur until 2015. sent some health care managers reeling. there are worries an october introduction of the so-called health care exchanges won't go as smoothly as hoped. going forward, dope dive research and specialized knowledge will be key for the political and head wind. for that reason, a lot of macro funds stay away, it's too tricky to navigate. one person that played it well unveiled at a hedge fund conference last spring generated massive returns in the 84 that followed. he is continuing to bet big now with mha, which his

that is kate kelly. >> scott, sac capital trying to maintain a sense of normalcy after a legal eventved a debt flow for other companies. more on what they're doing and how they're doing it when we come back. go to e-trade and roll over your old 401(k)s to a new e-trade retirement account. none of them charge annual fees and all of them offer low cost investments. e-trade. less for us. more for you. you'd do that for me? really? yeah, i'd like that. who are you talking to? uh, it's jake from state farm. sounds like a really good deal. jake from state farm at three in the morning. who is this? it's jake from state farm. what are you wearing, jake from state farm? [ jake ] uh... khakis. she sounds hideous. well she's a guy, so... [ male announcer ] another reason more people stay with state farm. get to a better state. ♪ [ male announcer ] you wait all year for summer. ♪ this summer was definitely worth the wait. ♪ summer's best event from cadillac. let summer try and pass you by. lease this cadillac srx for around $369 per month or purchase for 0% apr for 60 months. come in now for the

kate kelly has also been following this story. e joins us on the "squawk" news line also with the latest for us. good morning to you, kate. >> reporter: good morning, andrew. i heard your discussion, and i would agree. it was the nature of the charges against cohen that surprised people friday, a little less than the fact that there were charges to begin with. ever since this case against a former s.a.c. analyst was filed last fall, wall street has been expecting to see a securities fraud case against cohen for alleged insider trading, not perhaps this failure to supervise case that was actually filed. s.a.c.'s reaction was both swift and defiant. in an employee e-mail sent shortly after the case was announced, the s.a.c. president said the charges lacked merit and that the firm would contest them. much the same language that the firm used in its public statement. s.a.c. traders who have thus far been mostly loyal to cohen and have been rewarded by additional pay and attention from him in the last year as he seeks to keep morale as

>> what about kate kelly? ng. we will replace him with one kelly, getting ready for squawk on the street a. horrible drive then. anyway, right. in the next hour, more on the big announcement from microsoft, the ceo of second market, jobless claims data at 8:30 along with import prices, wreak. . . >>. >> you can put a brain on a cactus. >> beating a yoke to death, come on? >> you milk that brain thing, you still milk it to this day. people think you were named that because they think i'm just the good looking dumb sidekick. >> you were called the brain. >> i'm the good one. >> for the eye candy. >> the over 70 set. >> does that matter to me? i don't care what genius you are, much less gender. if you find me attractive. i say thank you. i do. i go below genius. i go below that. i require a spine and i'd say, there are invert bring as. you are here for another hour? in there i am. >> we are really milking this. you want to do stocks to watch this morning? >> let's do it. >> i don't know. i got to look. i got it he

kate kelly, kpix 5. >> to dominate your local heroes for a jefferson award online on kpix.com, click the logo and then jefferson award. >> what a great guy. >> yeah. >> he's busy already, goes out and does all this stuff. i love these jefferson award stories. they do remind you, i don't do anything. >> makes you feel like a loser. it should inspire us to get out there and be of service in whatever way we can. >> in a small way. >>> we have fog and low clouds out there. a lot of drizzle across golden gate bridge. the number s are going to be cooler. 58 at the airport and 54 in santa rosa. america's cup still happening in the bay area. it will be 62 on the bay today. bundle up. gill roy has the festival going on, forecast high of 80 degrees. if you want to catch a game, giants are playing the cubs at 6:05. it will be breezy and cool. speaking of cool, there's a look towards the bay bridge. drizzle, dense fog. sun coming out inland though. mild weather inland. warming up later in the week. we're going to have to wait until wednesday or thursday for that. satellite and radar shows the la

kate kelly joining us from new york city. we'll hear more from dan lobe on wednesday, programming throughout the day from the conference including "fast money" at 5:00. this auto maker is trading at its hottest level since 2011. we'll unveil the name and give you the trade. that's next. ♪ ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ ♪ all on thinkorswim. from td ameritrade. ♪ ♪ [ male announcer ] you wait all year for summer. ♪ ♪ this summer was definitely worth the wait. ♪ ♪ summer's best event from cadillac. let summer try and pass you by. lease this all-new cadillac ats for around $299 per month or purchase for 0% apr for 60 months. come in now for the best offers of the model year. >> welcome back to "fast money." live here at the nasdaq market side. ford trading at its highest level since january, 2011. pe

. >> kate kelly, great reporting as always. lling in to "street signs" and cnbc. nbc news confirming that federal investigators likely to charge against s.a.c. capital but not steven a. cohen himself. very complicated again, but a big blow to s.a.c. capital and its investors. you heard that report. >>> coming up next, our mystery chart shall be revealed. we will be delivered of a mystery chart. forthwith. hence forth. "first day of my life" by bright eyes you're not just looking for a house. you're looking for a place for your life to happen. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] ♪ >>> i love that. mario brothers, thank you, team. ea's the mystery chart. see you tomorrow. >>> hi, everybody. good afternoon. we enter the final stretch. i'm maria bartiromo at the new york stock exchange.

kate kelly has more on the bets. kate, over to you. >> maria, 2011 and '12 were tough years for paulson and his fund company has seen its assets cut in half after the peak. part of the problem was a troublesome bet on gold miners when the fear trade was on the rise, but have since crashed down to far lower levels. even this year paulson's gold fund is down 65% and is in enough of a distraction that the company is now reporting its performance a little less widely. paulson often notes that gold is a miniscule part of his $18 billion aum, and not too much of a factor in his overall strategy. to be fair, his other strategies tell a far better story. the recovery fund is up 26% on the year, way better than the s&p, which is something few hedge funds can boast about. it was initiated to buy bets and other u.s. investments that would benefit from the recovery and currently holds names like radian, mgic, and one west bank. and the other funs are the rmr funds, like scompanies like sprint. late friday, he got another potentia

kate kelly has been following that story. kate, over to you. >> reporter: hey, kayla.t ahead this weekend to host people at his home this weekend, which cohen had bought a table. this is not the first time he has flouted convention by not laying low during a scandal. last fall, he bought $150 million painting around the same time that a former s.a.c. analyst was indicted on insider trading charges. news of that transaction then leaked out months later, just as another s.a.c. trader was being charged along similar lines. around that very same time, a story leaked about a $60 million beachhouse cohen was buying, though not the one he held the party at saturday night, that's another house. that's peripheral to the s.a.c. business, but they are distracting the public at a time when the firm is fighting battles. s.a.c. was indicted thursday on five counts of securities and wire fraud and faces allegations of a pattern of insider trading at the firm. it's trying to keep staff and investors on board while also preserving its right to trade normally, thanks to a protection ord

kate kelly is here with the details. it's been a long time since they changed any of these rules, and i noted, kate, that it was pretty much a unanimous decision with one very vigorous dissent. what do you make of it? >> that's right, sue. it was a 4-1 ruling on that piece of the issues that they took up today, so this was a much expected but long delayed vote really. the commission agreed to lift just to remind people a long-standing ban on general advertising for hedge funds and other companies that engage in private offerings. that could theoretically be anything from s.a.c. capital to the next facebook as well as a bevy of far less successful companies. it's the risk that has the consumer advocates most worried. it was intended to give private and startup companies more access to advertising. the question is how to protect investors from unsavory businesses? one way the s.e.c. has proposed and voted on today is that by banning so-called bad actors from certain securities offerings, a measure that received unanimous ap

kate kelly is on the case for us today. hi, kate. >> reporter: hey, sue, thanks so much.n today settled charges with the federal energy regulatory commission to the tune of more than $400 million. the charges that they allegedly manipulated energy markets in recent years in two particular spots of the country, california and parts of the midwest. this news comes days after jpmorgan announced plans to sell the jast majority of its physical commodities business amid regulatory concerns that really might have forced their hand anyway and those are coming in september. the action comes after at least a dozen actions in recent years and is the largest in the agency's enforcement history. an even larger settlement over alleged power manipulation with barclay's bank could be in the offing for nearly $500 million. it's been proposed, but barclay's right now is fighting it. in an interview in the first of the day, the chairman told me that this is something of a minor matter which surprised me. he said if you compare this to enron 12 years ago this is really a fraction of the leve

you know, our own kate kelly has been following that part of the story more closely and there's moreit's unclear whether we could take shots at the portfolio, where people fund the stocks they know they are short in. such a large percentage of the stocks are already mr. cohen's, won't be a forced seller of that stuff. only request for redemptions that would come in from outside investors so i don't know if there's that much play. understood. we'll try to get more on what's happening with this story. just to quickly recap the s.e.c. is charging steven cohen with civil charges, not criminal charges. we'll continue to follow this story for you right here on "street signs." do not go away. time to have new experiences with a familiar keyboard. to update our status without opening an app. to have all our messages in one place. to browse... and share... faster than ever. ♪ it's time to do everything better than before. the new blackberry q10. it's time. their students need financial literacy education. but the funding, resources and curricula are often not there. pwc is doing something abo

there have been, as kate kelly reported, redemption requests total sometime this year close to $4 billion or so, so if no one else chooses to redeem, there may be a couple billion dollars in outside investor money. i think it may be a challenge for outside investors not to request redemptions given the criminal indictment and given the fiduciary responsibility they have to their own investors. so that's going to be challenging for those institutions that still have money at the firm. >> ron, i couldn't echo that more. i don't have the ninside info, admitted admittedly, but the idea that an endowment or pension fund would choose to leave money at a company that is under an active indictment would sort of boggle the mind, whether you're making low double digits or what. it seems like it would be a problem for them. >>> folks, we have to leave it there. i'm sure we'll talk more about this breaking news later this hour and throughout the rest of the day. but scott, ron, bob, sue, we'll leave it here for now and talk about a big turnaround for the markets when we return in two minutes. now get

kate kelly, kpix5. >> and you can nominate your local hereos for a jefferson award online at kpix.comclick the logo at the top of the page and then jefferson awards to find the e-mail nomination form. >>> fugitive edward snowden could soon have a new country to call home. the man who exposed american secrets emerged for the first time in three weeks yesterday. snowden met with russian officials and human rights activists at the airport in moscow. he had been holed up in the transit area of that airport for weeks. the presidents of venezuela and bolivia have said their countries would give him asylum. >> i did not seek to sell u.s. secrets. i did not partner with any foreign government to guarantee my safety. i announce today my formal acceptance of all offers of support or asylum. >> snowden is requesting asylum from russia as he awaits safe passage to latin america. the u.s. has revoked his passport and put pressure on other countries to help him. >>> a victory this morning of the senate's approval of one of the most restrictive abortion laws in the nation. the new bill would ban abo

i'm kate kelly with some breaking news.which the s&p was down 1.5% and year-to-date the embattled fund is now up 8.25%. that's net of fees and their main fund. interesting performance because they've sort of been taking up a chunk of a percentage or a percentage per month every month this year. has not seen very impressive in light of the huge s&p rally, scott, but i think in light of the volatility of june where there was a lot of pain in hedge fund land, it's looking better than it was. >> that's interesting news. kate, thanks so much. >> thank you. >> and for the record your hair looks great. >> thank you. >>> caterpillar -- >> details totally matter. >> caterpillar is the second worst performer in the dow this year. the world's largest heavy equipment maker will be suffering from weakness in the global mining industry but has the stock gotten too cheap to pass up. time for a cat fight. stephanie link is the bull, steve weiss is the bear. 1:30 on the clock. stephanie, the bull, make your case. >> this is not a play on th

cnbc's kate kelly is here with the story, though she wasn't there for the party, i don't take it. >>er: sorry to say i was not in attendance, but, you know, call it unfortunate timing, i guess, tyler. steve cohen saturday night's party which was weeks if not more in the planning went ahead as scheduled with among other things a their 2,000 fresh tuna order from a local caterer. his event was formally connected to a nearby ovarian cancer benefit earlier in the afternoon where he bought a table and attends. wasn't clear if he attended but he and his wife alex hosted some of the participants at his home afterwards. he has a history of charitable involvement and is closely involved with the robinhood anti-poverty dinner in manhattan, a board member of that organization as well as a recent donor to one of nyu hospital's research program to benefit veteranses but the hampton party came at a bad time coming days after his hedge fund s.a.c. capital has been indicted. s.a.c. capital pled not guilty and they are trying to hammer out an agreement that allows them to ring fencing from a large pa

. >> kate kelly with the latest. >>> now, turning to eliot spitzer, back on the campaign trail againfor new york city comptroller. he is getting his share of hecklers as you would expect. >> you look at the record i have as attorney general and governor, assistant district attorney, the private sector, as teacher, how the opportunities reviewed my teaching, and i think people -- >> so how will the man spitzer challenging handle this? scott stringer is running against someone who had to leave office in disgrace after being caught in a prostitution scandal. let's face it, eliot spitzer is also a household name around the country. joining us in a cnbc exclusive, we're pleased to welcome the democratic candidate for new york city comptroller, scott stringer. >> pleasure to be here. >> this is either your worst nightmare or you're licking your chops having a guy like eliot spitzer come into your campaign at this point. >> the worst nightmare part is i'm a new father, 7-week-old son -- >> congratulations. >> -- and i have an 18-month-old son, and at my age, that's a good thing. >> yeah. >>

kate kelly joins me with some other highlights. >> it was almost hard to sort of cherry pick some keys to talk about here, but it was a good lineup and i felt as though there was a range of things from policy issues and legal stuff that was interesting to some investment picks. some grand prognostications about the stocks and markets discussed too. a number of people, lee cooperman, i was thinking he was on your panel, but he was on david's, but you called him out of the audience. they have essentially tapered their ebullience on equity saying the market could go sideways before regaining steam. others also predicted a continued and continued backup in rates. greg fleming saying rates could go up to 4% on the ten year later this year and the market has been really sort of unprepared for the move we have seen already. there was also some talk about asset bubbles and places to short or just to avoid. one notion that hit home with me was richard perry's comparison of the japanese credit market it subprime in the u.s. pre2008, a lemming like bullishness. my words, not his. based mostly on

kate kelly, thank you very much.ell america's biggest pork producer? we'll ask senator debbie stabenow next. that and more when we come back. ♪ ♪ hey! ♪ ♪ let's go! ♪ [ male announcer ] you can choose to blend in. ♪ ♪ yeah! yeah! yeah! or you can choose to blend out. ♪ oh, yeah-eah! ♪ the all-new 2014 lexus is. it's your move. the all-new 2014 lexus is. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." >>> the european markets are closing now. >> i missed it, did you? simon hobbs tells us what happened as the bell sounded across europe. >> berlin is already shooting down this proposal that came from the commission today to create the seco

our kate kelly is live back at hq is more on that. >> thanks so much.o was kind enough to give us his first interview. chairman, thank you for joining us. >> good morning, kate. >> good morning. this is the largest ever settlement for energy market abuse. i'm curious, how did things get so screwed up at jpmorgan? >> well, it was a series of events in california and michigan about 12 different acts of manipulation we specifically found in the settlement that we issued this morning. i think it was a minor matter though in the context of some of the largers events that took place, for example, in the early 2000s with enron. this is really only about 1% of that event. >> well, given that you mention enron, i-going to ask, you have recently come down on a number of banks, deutsche bank, barclays which is fighting your proposed settlement and jpmorgan. why is it that energy market abuse is still happening? >> well, it's happening at a very low level. we want to make sure that people understand this. again, what happened today with jpmorgan was only about 1% o

in the meantime, kate kelly will be there all day as well.he has more on one of the conference's key players. >> one of the players is a man that typically stun shuns the spotlight. everyone wopders what he is thinking. this is u.s. attorney pree preet bharara. he has brought a string of cases against those including the bomber. and in albany, a queen's state senator who attempted to bribe his way to the new york city mayoral ballot. he is best known for his many insider trading cases. in 2011, one-time fund manager raj rajaratnam was convicted for insider trading. a tipster who is now appealing his own sentence of two years. the chemical foirnd steven cohen is under scrutiny for the same type of alleged crime. federal prosecutors have won convictions on a handsful of sec employees. as a part of a pending case against sec analyst, some expect cohen, himself, might be indicted. he, of course, has said he has done nothing wrong, though. there has been talk, but for the moment, andrew, he's rounding out his fourth 84 in this role. rudy guiliani

. >> kate kelly. >>> when we come back, dupont earnings beating estimates by a penny t.xploring strategic alternatives for its performs chemicals unit. stock is indicated up to today. we'll talk to the chairman and ceo ellen coleman, "squawk box" will be right back. ♪ .ar . >> word association with nelson peltz. >> you say dupont, what comes to mind? remember i told you? i said paint. >> the chemical giant rolling out quarterly results, ceo ellen coleman speaks to us first. >>> shares fell on weaker than expected subscriber data. for more on the company's quarter, we will go to the source. >> it's not about real staechlt it's all about location, location, location, closing you out of a source of higher property value. >> more ceo interview with reed hasteings. >> apple set to report after the bell, an analyst says 2013 can go down in history as apple's lost year, the third hour of "squawk box" begins right now. one, two, three, four, tell me that you love me more ♪ sweet lip, long night ♪ oh, i adore ♪ . >> welcome back to "squawk box." we are in different stations. wild

ca kate kelly reported yesterday, they're expected to raise the ratio from 5% -- or 2.5% to 3%. that could have a pretty interesting impact. tony fratto and others pushing back as you would imagine, arguing this will take credit out of the system at a time when things are fragile already. i don't know if you agree or degr disagree. >> it would be a pity if that's the case. that's one of the things we need to see to get the economy to have more traction, more breadth than just homes and autos and the consumer. so if that's an unintended consequence of them trying to rein in risk, that would be a shame. >> do you buy it? or do you think banks are saying, look, the only time we make money is when we're leveraged. the more leverage you take out of the system, the less money we make? that's the business. >> right. the question is what is the ideal amount of leverage? 5% the magic number, 3%. i haven't seen -- >> if you want a banking story, this is the british banking story is more interesting, don't you think? >> the wall street reporting on the front page there? >> you wanted to --

our kate kelly is back at hq with more. good morning.blicity by shorting housing, this is a curious trade. >> no, you're absolutely right, carl. is just going to make that point as well. he's known for this massive housing short from 2007, a bet that generated 600% returns, but what people may not return is now paulson is long housing in a significant way. four years ago he opened a private equity fund dedicated to purchasing distressed residential land assets. much of them in foreclosure or brups in sunbelt states like arizona, nevada, florida, colorado, southern california. his thinking was when the market came, these cheap assets would turn more valuable, especially in places where the land was entitled, meaning it already had approvals for building. over time the fund became one of the nation's biggest residential landowners we think. they have about 28,000 lots in total as well as some hotel holdings. and now the housing market does appear to be improving. housing starts topped a million for first time in recent history in march and

here to deliver a preview, kate kelly. >> health care stocks have been one of the biggest winners sincedge fund community who will give us his alpha generating ideas at the conference next week. for the strong and the elegant. for the authentic. for at home and on the go. for pessimists and optimists. for those who love you a little and those who love you a lot. for ultimate flavor and great refreshment with or without calories. for carefree enjoyment. for those who have a lot to say and those who have nothing to add. for those who want to choose and choose. for every generation. for us. for everyone. forever. ♪ norfolk southern what's your function? ♪ hooking up the country helping business run ♪ ♪ trains! they haul everything, safely and on time. ♪ tracks! they connect the factories built along the lines. and that means jobs, lots of people, making lots and lots of things. let's get your business rolling now, everybody sing. ♪ norfolk southern what's your function? ♪ ♪ helping this big country move ahead as one ♪ ♪ norfolk southern how's that function? ♪ >>> the alpha conference is ju

. >> kate kelly, we're sorry to bother you on vacation but we're glad you were there today. of the spotlight off earnings and probably not for the better because there's a lot of news we just couldn't get to today. >> there's multiple cases here. the case against sac, the case against cohen himself, and the arraignment which we understand will be tomorrow morning. >> we're watching the home builders. transports not acting well. let's get to headquarters. melissa lee and "the halftime." . >>> welcome to the halftime report. i'm melissa lee. we're all over the story of the day and that is the u.s. government announcing criminal charges against hedge fund sac capital. preet bharara will be speaking at a news conference in just about an hour's time. bertha coombs is there live with much more on the story. bertha? >> melissa, steven cohen is not named directly as a defendant, but he is the owner of sac

let's get back to headquarters and -- actually, we'll go to kate kelly first with some breaking news. york times" had a report essentially accusing goldman sachs of raising the prices on aluminum through its metal storage business because of long waits and end user cost that is result, goldman is fighting back. it's proposing a series of solutions to ease the weight of metal when it comes to aluminum and other metals they store in their detroit business. they want to shorten queues, establish a priority system for consumers who need the metal, they want to establish a way in which consumers can actually swap and get metal immediately by jumping the queue, and they also want to establish greater transparency in terms of who ownshe

it's a great news story and lift everyone's spirit. >> kelly: we could all use that and around the record world. >> and kated almost as much as diana. so many people like to talk about them and discuss them. we can't wait for the baby. >> kelly: good of you to join us, sir. thank you so much. >> jamie: good news to report as firefighters make ground, gaining traction on a wildfire raging in palm springs. it has dropped in temperatures but now they have a threat of thunderstorms hand that could help or pose new problems. will is live around hemet, california. how are they doing? >> reporter: they are doing as good a job as you can imagine. the majority of destruction out here. some homes completely untouched and you have buildings like this burn to the ground. it's hard to make out what was in the building. there is a filing cabinet. a lot of rubble and debris here. this fire has burned half a dozen homes several buildings and 28,000 acres, but firefighters do tell us they are optimistic today they are getting the upper hand. first palm springs is in the clear. they have the fire about 25% contained. with th

. >> yeah, i just had a question to kate howard, the mayor's budget director. i know that as naomi kelly presented this when it came to the board, the rent for the new space is going to increase significantly based on what the rent was in the war memorial building. i'm wondering where that shows up in the budget. >> supervisor mar, through the chair, kate hour, mayor's budget director. this is the -- the issue you're raising is the same one i think that supervisor breed is raising. so, if you look at the -- so, this isn't a work order, essentially. the lease payment, the rent payments are budgeted both in the city administrator's department and the department of real estate and in the law library department. so, in the law library, you see an increase of $891,000 for rent and you would see also a payment in the city administrator's department for that lease payment. that's only now because -- i mean, we had -- we didn't have a rent appropriation when we moved out of city hall to the veterans building in 1995 with the mayor and board of supervisors. when everybody came back and they were

properly towards him as well. >> reporter: kelly and speculation about the due date just keeps changing. it has gone from july 13 to the 19th. apparently kate's mother has spoken about baby being a leo which would put this event a few days off. we continue to wait here outside of the lindo wing which some are calling the limbo wing of st. mary's hospital so that we can be here when the event happens. when the duchess of cambridge arrives to give birth to the heir. >> all right. >> back to you. >> thank you very much. she has a great assignment. >>> breaking news this morning. helen host, one of the true pioneers of journalism, has died. she was the first woman to serve as a white house bureau chief. she was also the first female officer of the national press club where women were once banned. helen host started her career in 1943, upi wire service. she began reporting on presidents with an assignment to cover john f. kennedy. she also accompanied president nixon on his landmark trip to china. she was a fixture in the front row of the white house briefing room for decades. something thomas called her ringside seat to history. this statement ju

kelly kron4 news. >> the royal baby is on the way! royal officials say prince william's wife, kate, has been admitted to the hospital in the early stages of labor. kate arrived at saint mary's hospital in central london this morning with prince william. the duchess of cambridge, is expected to give birth in the private lindo wing of the hospital where princess diana gave birth to william and his younger brother, prince harry. the child will be the first for william and kate, who courtship. and here's a live look at st. mary's hospital in central london. >> the baby's upcoming arrival is heating up the market for memorabilia. people in britain are expected to spend more than 370-million dollars on things like cups and dolls.and you name it. and a lot of this stuff isn't cheap.pieces are going for $4oo. one antiques expert explained the british craze for collectibles. england is a nation of collectors. over 70 percent of us collect. now nothing would be better for collecting than collecting more memorabilia right now, not valuable but collectable -- just to have a piece on the shelf,

kelly. "studio b" starts right now. >>> shannon, thank you. this is "studio b" officials confirm kate came bridge, has -- the duchess of cambridge, was gone into labor. we are live in london. and jonathon hunt will have the latest updates from his mum. and he emerged from hiding to rescue a driver off a highway in florida and zimmerman's lawyers is saying he is taking extra steps to protect himself. and a woman says she was in the driver's seat when her car plummeted some 40 feet off a highway bridge. she said she thought she was drowning, but managed to save herself just in time. you will hear her story live here on "studio b." that's unless breaking news changing everything on "studio b." first at

kate dodged the crowd. >> they didn't have to face a mob of cameras. >> kanye, somebody please get this man anger management. >> cory's "glee" costar paying tribute. >> kelly the president. >> i just got to perform for a man that would have never been able to be president. >> our comic con invasion. >> i just got photobombed by jennifer lawrence. >> inside kirk cameron's banned religious movie. >> and we were with selena on her 21st birthday. >>> now where yahoo and broadcast meet for 24/7 access to celebrity news, "omg! insider." the media madness that is the royal birth. hello, everyone. welcome to "omg! insider." i'm kevin frazier. >> and i'm thea andrews. here's selena gomez. she turns 21. could kanye go to jail for his latest paparazzi blow up? the great kate wait is over. >> finally, the world's most anticipated baby has arrived. media laying siege at the hospital. how did kate get past the sea of photographers to get to the luxury birthing suite? it is just some of what you need to know. >> her royal highness safely delivered a son at 4:21 p.m. local time. >> kate gives birth. the news breaking just after 3:30 eastern on the news networks. >> she ha

kelly. what do you see out there? >> we've been asking real moms to give some advice for kate and william and many of them say forget aboutng royal. forge your own way. we all know you have the parents, the inlaws and well-meaning stringers who are goi -- strangers are who going to tell you how to raise this child. raise the child the way you want. another great piece of advice, sleep when you can. one mom joked kate could turn into a royal zombie if she doesn't get any rest. and get him involved from the start. that means getting him to change diapers, have him spend some time with the new baby boy so that they forge an equal partnership and that will do well for their marriage and also for this new baby. >> i assume there's going to be a whole bunch of royal nannies, if you will, who can help out this royal couple. >> reporter: exactly. they are going to get a ton of support that most american families don't have, but watching kate as we have and listening to her upbringing, it's clear she wants to be very hands on when it comes to parenting this time, and william, too. she's going to be very involved, william is going

kelly holmes or even posh spice. also asking viewers for some other ideas, one of our viewer tweeted in to say kate's baby bump or richardand mike davies also tweeted, churchill, atly, somebody famous? keep your responses coming. keep in touch. we're on e-mail at @cnbcwex a worldwide@cnbc.com and a couple of twitter handles out there, @cnbcwex or direct to me @cnbckaren. >>> a bunch of earnings out from a whole varied amount of sectors. let's delve into the big ones. swiss drugmaker novartis raises its four-year outlook after posting sales just ahead of expectations in the second quarter. earnings per share fell. nordea posted a second quarter net profit of 772 million euros, slightly bigger than expected drop from 820 million euros a year earlier. the stock price is still up .2%. all weighed down by lower net interest income. and bhp billiton soaring today, another record rise in iron ore production. output reached 187 million tons, increase of 9%. the world's biggest mining company is plowing ahead with plans to increase output further and said expansion of its iron ore operations in australia is running ahead of sched

kelly: that is a lot of work we have to do. >> heather: the it continues as world awaits news about the royal baby. we are learning more about duchess kate what her doctors are saying. queen elizabeth speaking out about the newest heir to the throne. martha mccallum is reporting outside the hospital in london. >> we are outside the wing waiting for the baby to be born. we have every assurance that kate and william are at kensington palace and the doctors are waiting and very much on standby. we have learned that they are in constant touch with the duchess of cambridge and seeing how she is doing. the person that seems to be most relaxed. queen elizabeth i don't mind if it is a boy or girl. she wants it born soon before she is headed off to vacation. no doubt they will be notifying of the birth of her great-grandchild and hear the news as it comes along. also always news about prince harry. he has had his request answered. he will be going back to afghanistan in 2014 if, indeed, he is still needed. that is something he very much wanted to do. we know he is very anxious about his new niece or nephew and looking forward to that, as well. me