pandora's cofounder sits down with kayla tausche later this hour. he talks about how he is taking on spotify and apple. >>> and it is green across the board in the markets today. u.s. stocks up triple digits. the dow up 228 points as we head to break. new polls saying the uk now less likely to leave the euro zone. investors are cheering that news. thank you. ordering chinese food is a very predictable experience. i order b14. i get b14. no surprises. buying business internet on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed. but do you consistently get it? you do with comcast business. it's reliable. just like kung pao fish. thank you, ping. reliably fast internet starts at $59.95 a month. comcast business. built for business. >>> linkedin launching its first ever list ranking the top companies in the world where people want to work. cnbc is in san francisco with that report. >> reporter: well the top ten and the entire list in fact is dominated by big household tech names like google and amazon to uber

p kayla tausche is on the ground. we saw in the shares of european banks was really nothing short of devastation. >> reporter: no, it was a complete repricing, melissa, across the entire sector. it's safe to say the major banks on either side of the atlantic were able to stave off any major dislocation in the markets by handling torrential amounts of client volumes and putting restrictions in place to be able to do so. now there are a few key questions remaining for the banks as we think about going into the weekend, and the markets opening next week. first, how are the banks going to fund themselves? it's clear it's getting more expensive to do so. the spreads between libor rates and the overnight index swaps spiked this week. one month, three months in the future, it's seen as a gauge on how risky investors see bank borrowing. we should note it is still well below where they were in 2008 and prior crises. but, still, something to keep a close eye on, because that could signal, that could be a leading indicator that

hey, kate. >> hey, kayla, that is right. of resources for the start-ups including innovation works, and they are a nonprofit that has expanded into 300 local tech companies that have gone on to raise $1.7 billion in follow-up fund iing. one of them is the robotic company that makes robotic arms used for bomb disposal, and they have shipped over 400 arms. >> the arms are put on the robots the go to do the dull, the dir tir and the dangerous, whether it is defusing a bomb or work on a power line or whatever it is, and that is the key to project a human remotely. >> and he says that the city's roots in the steel industry have paved the way for the current reinvention. >> that steel industry created amazing talent both in terms of the work ethic behind it, as well as the manufacturing kn know-how, and now, what pittsburgh is doing is to take that remnants of the steel industry, and leveraging it, and building it into this high-tech powerhouse. >> and while jetting off to silicon valley or new york city could be tempting for re s

>> hey, kayla.ne veteran told me that california has not been this important since bobby kennedy, but suddenly the 800-pound gorilla on the west coast matters. >> she understands that the country can't reach the potential unless we all do. >> what choice do californians have in this election? the biggest one of all. you have to power to choose a new direction for democratic party. >> reporter: bernie sanders has spent $1.5 million here, and hillary clinton here nearly $1 million, and i almost drove off of the road when i heard a hillary clinton ad on the radio, but she is outstanding him in monterey and there is total spending on digital is topping $1 billion for the first time up 500%, and this is in the free social media, and yet, in california's iconic in-and-out burger here are many of the celebrities who came out to give a concert at the greek theater, she is with us. and hollywood is feeling the bern. and get ready california for more, because donald trump thinks he might win this state. that

over to kayla standing by with the latest.arl, we are more than halfway through the polling day here in the uk, and of course, many of the undecided voters will depend on the turnout of this evening in this weather, but the financial industry're in the financial district here in london is dealing with the day of heavy volume on the trading side, and they are bracing for the impact of what happens when those results come in overnight as sarah mentioned, and coming in 12:30 a.m., and 1:00 a.m. here in london and the industry has a lot at stake. it is the source and the benefactor of much foreign direct investment from europe to europe and of course, being able to sell the se e vrvices across borders is a passport of sorts which could make it expensive for the banks to do business. and the jobs picture, as about 7% of all employees here in the uk are eu nationals and the big banks employ tens of thousands of those people, and that future could be unclear. some of the employees used their lunch break in london to visit the foreign

and kayla tausche has more on what's happening here. kayla? >> just a couple other names moving after-hours, kelly. first i want to tell you about bank of america, increasing its quarterly dividend to 7.5 cents. also, increasing its share repurchase authorization to $5 billion. that's up from $4 billion from last year, although they did increase that slightly in march of this year. also, discover raising its dividend to 30 cents. that's up from 28 cents. and also authorization $1.95 billion in share buybacks. back to you. >> that's a big one. all right, kayla, thank you. joining me right now with his thoughts from the aspen ideas festival out here is mark weinberger, chairman and ceo of ey. thank you for joining me. >> thanks, kelly. >> some big moves by the big u.s. banks here. what's the impact going to be? >> i think certainly, it's a big sigh of relief, certainly after last weeks when the banks took a hit, figuring that interstaest rates were going to stay low. they're increasing the capital requirements every year, increasing the risk man

kayla. >> over to the cme with rick san el telly. >> all right.the fed, and that is not a beach party movie meets the "untouchables" or annette funicello meeting kevin costner. we have learned that there is no rate too low, and if you are looking at the bun des bdesbank the bond they are now below zero. at june they were at zero, and now the read is pie us in two or three basis points, and it is shocking, but we are anesthetized to it, and used to it, i think that it is crazy and once again, i have said it many time times, that smum toos people say it in the best way, and bill gross said that capitalism can't survive negative rates, and i tend to agree, but what this is all about is something that rahm emanuel said while he was at the white house in the dark days, and he said never let a crisis go to waste, and it is an opportunity to do what you think that you could not do before. and i don't think that the fed saw the current world, and if you go back a half a dozen years many of the policies would be in different if those in charge could have s

>> kayla: you're really gonna ask that question?ust wish we could have left when we said we were going to. i mean, there was no reason that we need to stay the night. >> joey: yes, there was. dad was right. you needed to get some rest before we go back to salem. especially after everything you've been through. after everything i put you through. >> kayla: joey. look, we were just happy to get you out of there relatively unscathed. when i think of what would have happened to you-- >> joey: i'm fine. except for being arrested. i mean, at least i made bail. i don't have to stay here till the hearing. >> kayla: well, the first order of business is to get you home safe and sound. >> steve: okay, coffee time. >> kayla: oh. >> steve: here we have one half-caf, extra hot, non-fat mocha grande.

to friends dan and kayla will always be this. two people madly in love and wise beyond their years. >> dan was incredibly loyal and just had a love for people. >> she had a very quiet confidence. >> she's very fun and just, you couldn't help but smile. >> but police say their lives were cut short because of lauren renee scott. scott got down solomon lane. police say she crossed over the center line and hit the honda civic head on. another car then smashed into both of them. dan was driving the honda civic. he died at the scene. his wife was in the passenger seat. paramedics rushed kayla to the hospital but she died. scott tested positive for opiate and marijuana. she allegedly told hospital staff she smoked marijuana and used heroin before the crash. scott faces a number of charges, the most severe negligent manslaughter. she is charged with 4. >> i spoke to scott's attorney about an hour and a half ago through e-mail. he tells me his client will plead not guilty to these charges. right now she is being held on a one million doll

>> thank, you kayla.iewers and listeners, there is going to be some mature material here, and i'm serious, so be careful. jim, i look at what draghi and others are doing, and i can't believe there is not more outrage. corporate security, and the b r bear, and the other -- >> monsanto. >> the monsanto is questionable, but it is the view as a dance, and so this is rolled by who? >> the ecb. >> and they can pick and choose, and the debutante ball other monsters get together, because they need the girth and to keep buying. >> the purpose of the capitalism is to take money from bad goos s and give it to the good ideas and we can efficiently allocate the capital in the world. the ecb is going to be buying the corporate securities and they will financing the monsanto deal fit happens, and they will say yes to everybody, and it is de facto industrial policy, and they don't have to bother with wall street. >> and the import/export if that is going on, what have the bowings said when airbus is in bed with the gover

we have james fudge here and this is kayla. kayla are you going to serve them. >> oh yeah. >> we'll let you start serving them up and we'll do a little weather and come back okay. >> okay. >> you guys can dig in but listen to kayla. >> all right. let's talk about the weather we're live in sea isle city where the temperature is 78 degrees. it is beautiful and we're going take a look at ultimate doppler where we have a few spotty storms out there. he is special physical you're in chester county. keep careful eye you could hear a rumble of thunder. we have a cell moving in from the harrisburg area. elsewhere we're just talking about great temperatures. it's in the 80s across the board. 83 in philadelphia. we have some 70s to the north and lehigh valley in pottstown but all in all really nice day. high pressure building off the coast and that's going to give us beautiful weekend. everyone is getting excited for it. with temperatures that will be rising right through the 80s from the city to the shore. and as we look ahead overnight

. ♪ >>> good wednesday morning and we are live from the code conference, and kayla tausche is live athe new york stock exchange and here out west is with me is jon fortt and erinn lee and alex goodman. and now, the content is making headlines last night with jeff bezos, and here is what he said. >> i think of them as seeds being planted, and will ta turn into trees. and amazon studios could turn into a fourth pillar, and it is possible. what we are doing with alexa and echo and the natural language understanding evolves into an artificial agent, and by the way, i think that there are going to be a bunch of artificial agents in the world and just like apps and web sites this they are going to be specialties, and maybe not ask the same a/i is going to be bet at some thing, and a certain household better at some of these, and they seem promising to me. >> just a sliver of what bezos covered with walt mossberg. they called it an iconic appearance by bezos, and what are people saying about it today? >> first of all, that it was a fantastic intervush and second of all, they have never seen

and finally, guys, you want to do that online, kayla?ll, the company is expected to go public in the next couple of weeks, tokyo and listed in the u.s. the road show is expected to kick off at some point in the coming week, and that is normal timing for a company, but $5 billion valuation, and what is up consumer slowing growth. >> it looks like the new twitter, in that user growth has flatten and the revenue growth is great, and you say, it is going to be cheap and i have to be in there messaging, but the user growth is flat, and this is what happened to twitter and the stock got to $70, and the user growth plateaued and here we are at $14. >> they would say that they are an innovator and starting with the stickers and the commerce of on this side of the ocean, and not pond, because that is europe, but they have started to pick up on it, so this is one to watch as far as the business models around the messages. >> mike, you think that investors will snap it up, because there have haven't been this that many new issues? >> well, yeah, i

kayla is in london with a closer look. kayla? >> well with, john some of the stocks did start to move when the former prime minister was ste speaking. they have not trimmed the losses in my way and even though that they're off the lows of the day, the carnage is undeniable and they lost $2 trillion and that's the worst dollar day and then the banks alone have begin up a hundredle billion dollars in the market cap. while they're lingering concerns, what's on the balance sheet and who the counter parties are, this time it seems much much much broad er than the last time that we were talking at risk in the uk financial system. that was back in february when we saw the sell off and volatility and we worried about the banks exposures and this time around there's the session and it could happen as early as 2017. you have the prospect of early easing and from the sent is ral banks. that's pretty much a given at this point and then the banks earnings are going to get hit from that and then the access to the market. that's a cost affectiv

kayla tausche is live from the cannes lions international film festival in france.not in front of the ocean, though. beautiful shot. >> joining us re/code managing editor and cofounder of confide. our top story this morning, a rally under way on wall street on news of british exit from the

kayla, we have been watching the european banks all day long, and of course, getting hit the hardest on the brexit vote, and your take on that? >> well, carl, a once in a generation vote, and followed by a once in a generation trading for that sector in particular, and the worst open for the european banks since 1987. some like lloyds were down as much as 20%, and of course, some of the contagion was felt even sharper across europe. of course, the big u.s. banks open or the trading are seeing the follow-on trade, and not nearly as bad, and those banks are going to be reassessing the operations in europe, and how they need to react to the ref ren democrat, and the brexit vote overnight, and whether they are g are going to be sending 11% that are employed here in the city of london in the financial sector back to their eu countries where they are citizens, and what to do, but the primary focus is to make the markets for the clients in a heavy volume day in certain markets of liquidity like foreign exchange is hard to come by. we have seen heavy volume in one-directional trade like the

: shh, shh, shh. >> kayla: sorry.y.

kayla tausche, and along with vanity fair correspondent nick out west.ood morning to you. >> good morning. >> and now, redstone says that he no longer trusts the ceo, and he says that he is determined to trust in the company and not the shareholders to do the best for them. and so yesterday on "fast money" we spoke to tom freston. >> well, the lawsuits and everything else has been a side show compared to the real story which is the fall of viacom from grace over the last several years that have been really one of the leading television networking companies in the business and now it is falling to a level below the peers on almost every metric plagued by all problems including the creative departures. >> and freston is outspoken, nick, and how does this move the ball forward? to what degree will we see any resolution in this saga? >> i, all i can hope for is that there is someone in that building with a video camera filming this whole thing, because it is the pr fekt bookend to the real world years ago. it doesn't seem like it is going to end any time soo

>> you know, the movement and the credit default spreads kayla just talked about, evidence short-term volatility more than anything else. we don't really see the credits changing on uk banks as a result of brexit. we don't know enough yet to make that kind of judgment. we do know there's going to be a lot of expense and distraction from management. we do believe that there's probably going to be a hit to volumes and gdp across the board, because of uncertainty. a lot of businesses are not going to take decisions that affect the uk and europe until there's clarity. there's a lot of questions but i don't any investors should overreact because we don't know enough yet. we've never done this before. we're going to have to wait and see. >> of course. as a general statement, to underline what jpmorgan cass roh says this morning. in their belief in general avoid the european investment banks because you don't know the counterparts, liquidity or the market gap in risks are, as every time we go through this, period eckley, we have no idea for some time, and sometimes it can grab us from left f

and when we come back, we will talk to kayla in cannes. don't go away. power the grid in this country power the grid in this country great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. >>> all right. coming up on the halftime report, the markets are on edge with less than 24 hours for the brexit vote. what happens if they do decide to leave? and elon musk is offering to buy his own solarcity and is it a buyout? a sell oout? we will discuss what it means for both companies. and you will hear what jim chanos has to say about that deal. remember, he is short both companies, and you will hear from the reaction from mr. chanos exclusively on

start thinking about our future. >> reporter: and that is money for "nightly business report," i'm kayla tauchi in new york. >>> here's another look at the day on wall street. the dow climbed 92 points to 17,733. at one point it had been down nearly 170. the nasdaq added nearly 10. and the s&p 500 gained 6. >>> that will do it for us on "nightly business report" tonight. i'm sue herera. thanks for watching and have a great evening, we'll see you here announcer: a kqed televis♪on production. sbrocco: and everybody say "opa!" -man: opa! -woman: opa!

in the meantime the family is in the process of planning a vigil for march kayla later this week.ain. >> shawnette thank you noisy afternoon for some residents in the grays ferry neighborhood of the city after an explosion at the viola energy facility along grays ferry avenue. officials say a pressurized piece of machinery gave way that started the blast. neighbors say the ground shook and windows on some homes even shattered. >>> any way this is the first time actual damage was done but our house is shaken on, i don't know, maybe every month or so, and, you know, loud rumbles that come out of the power plant, and any way, so this is the first time there was actually physical damage. >> authorities say one worker was injured but that worker was treated on the scene and is ok okay. >>> right now in wilmington police are working to figure out who shot and injured three boys an girl. oldest victim is only 16. the youngest 12 years old. now you saw it here breaking last night on fox 29 news at 10:00. neighbors say they heard several shots last night just past 9:00 on south van bury st

. >> reporter: fathers plea to the person who struck and killed his 17-year-old daughter march kaylaackson. the popular senior at excel academy was set to graduate high school next week. >> kind, gentle. always willing to do something to help somebody. >> reporter: police say march kayla was crossing adams avenue around 11:30 monday night when a car turning on to adams avenue from roosevelt boulevard hit her and just kept going. she was sent through the air about 160 feet which indicates that she was hit at a fairly high speed. >> reporter: eldest of six, she was a model child. >> you can imagine the hurt of a father losing a daughter. i mean, beautiful spirit. kind, humble. everything you would want in daughter. >> reporter: her family now turning to their faith for comfort. >> we're praying for the person that struck her that they will have a change of heart and do the right thing and turn themselves in. >> reporter: based on witness descriptions police are looking for an older model mini van possibly silver with a cracked windshield and front end damage. but for now we're live in

kayla tausche explains. >> reporter: planning to use a credit card at costco? starting monday you'll need a new piece of plastic. for the first time in nearly two decades costco's 11 million credit card holders will be bearing a visa issued by citigroup replacing the american express card that costco exclusively accepted before a bitter fallout. while customers aren't shy about brand loyalty, most seem unfazed by the switch. >> i prefer american express. >> i have multiple amex cards but benefits are becoming less and it's better with other cards. i'm looking more to using my visa card. >> i think more people carry the visa card. american express is a little pricey. >> i don't like it at all because i use american express for everything. >> my son is happy about it because he only holds a visa or mastercard so he's happy about it. because he'd always go in with cash. >> i don't think it will affect spending one way or the other. think it's just a matter of probably costco having negotiated a better deal for their customers with visa. >> that's exactly it. the n

start thinking about our future. >> reporter: and that is money for "nightly business report," i'm kayla tauchi in new york. >>> here's another look at the day on wall street. the dow climbed 92 points to 17,733. at one point it had been down nearly 170. the nasdaq added nearly 10. and the s&p 500 gained 6. >>> that will do it for us on "nightly business report" tonight. i'm sue herera. thanks for watching and have a great evening, we'll see you here narrator: as we celebrate the success of "downton abbey," the tradition of great drama carries on sunday nights on pbs. now watch a special preview of the new drama programs that are coming soon to your pbs station, including a whole summer of intrigue on "masterpiece mystery," with your favorite detectives tackling their toughest cases. stay tuned for "pbs previews: the best of drama." "pbs previews: the best of drama" was made possible in part by contributions to your pbs stations from viewers like you. thank you. [cheering]ard rock musi] yup? [distorted voice] danny hillier? who's this? if you want a real story, you should ask the police

. >> reporter: fathers plea to the person who struck and killed his 17-year-old daughter march kaylakson. the popular senior at excel academy was set to graduate high school next week. >> kind, gentle. always willing to do something to help somebody. >> reporter: police say march kayla was crossing adams avenue around 11:30 monday night when a car turning on to adams avenue from roosevelt boulevard hit her and just kept going. she was sent through the air about 160 feet which indicates that she was hit at a fairly high speed. >> reporter: eldest of six, she was a model child. >> you can imagine the hurt of a father losing a daughter. i mean, beautiful spirit. kind, humble. everything you would want in daughter. >> reporter: her family now turning to their faith for comfort. >> we're praying for the person that struck her that they will have a change of heart and do the right thing and turn themselves in. >> reporter: based on witness descriptions police are looking for an older model mini van possibly silver with a cracked windshield and front end damage. but for now we're live in la

kayla tausche and me at post nine with jon fortt and jason calcaneus joining us as well.nd now, our best ever day in china, and we have details with susan at hq. >> yes, let's go to hung cho, china where the alibaba is projkting to grow 30% this year, which is some different from the projections of the and -- analysts. there was an overarching event of the company, and to him, alibaba is no longer a marketplace to sell goods according to the ceo jack ma. >> we want to have the collective datas are from the consumers and the datas are from the business. >> yes, so data is very important to him, and, yeah, basically he is developing the cloud likem amazon and break out in the future, and you know the four major areas for alibaba, the cloud, marketplace, and what they are calling the mobile media and entertainment, and innovations technology, and the big topic that people wanted more clarity on is what he made headlines with last night. >> the problem is that the fake products today, they make better quality, better price than the real product, the real names. >> yes, so bet

>> well, hi there, kayla.vent of the shareholders meeting is the meeting behind me, and the arena is filled with 40,000 attendees and celebrity guests and musical acts as well, and much of them a surprise as always. however, what walmart has been spending most of the week on is showing off the technology in store to both media and employees are from around the world at all of the formats from the sam's club to the neighborhood markets to the walmart supercenters, and then today, walmart announced they will begin to testing uber and lyft as the last mile of grocery delivery from phoenix and denver, and this is how it work s. walmart em plow yees will shop for the items online, and then the employees request the on demand delivery service to go to the shopper, and likely to the shopper's home. and the standard is $7 to $10 delivery charge is the same for the consumers so they are not paying the drivers anything different in the two test markets. you have to use your imagination for the next one because know phot

i'm wilfred frost with kayla sitting in for sara. good morning. >> i like that you're playing the weekend music. gets you in the mood. >> even though it is 5:00 a.m. it is basically the weekend. let's see what the markets are doing now. u.s. equities open lower, gained traction throughout the day. finished about a quarter of 1% higher. this morning, pretty much bang on flat in the premarket, s&p slightly in red, treading water ahead of the jobs number which comes later today. all eyes on that and the implications for what it means for possible fed rate hikes. let's look at the ten-year note, what is the bond market doing this morning. we're bang on 108. we just have come down on the yield. seen a little bond buying during the course of the week, close to 1.9% earlier in the week, now at 1.8%. >>> everything rests on today's big market story, the u.s. employment report, forecasters say the economy likely added 158,000 jobs last month, but worth noting that a government report last week predicted the verizon strike could cut more than

good morning, carl. >> good morning, kayla.lways one of our favorite assignments to come here to the beautiful shores of palace verdes. the lineup is remarkable this year as the tech world meets to talk about privacy, artificial intelligence, valuations. but so far jeff bezos did steal the show making headlines last night. he talked about the power of a.i. amazon's original content and the possibility of getting into wearables. take a listen. >> i think it's a super interesting market. i obviously can't talk about our future roadmap, but i do think that -- again, i think that's also in its infancy. i think you're going to see a bunch of different products be successful there, you know, with different functions. i don't think you've seen the tip of the iceberg yet. >> so is it something that amazon is exploring? >> not that i can talk to you about. one of the whole -- you know, i think i would advise any entrepreneurs in the room, i think roadmap questions, product roadmap questions should generally be not answered. >> much to t

good morning, kayla. >> reporter: good morning, carl.ell, instagram announcing just moments ago it has surpassed 500 million monthly active users. the last time we heard this metric was last fall, 400 million monthly active users. so quite a bit of growth for instagram. and we are joined here in cannes by facebook's global head of advertising. caroline, what an honor it is to have you on a day when we have so much news to talk about. >> well, thank you for having me. >> so the growth we've seen since last fall to now, 25% user growth, is that organic or something deliberate you're doing with the product? >> well, the growth on instagram has been tremendous. if you think about instagram it was started five and a half years ago, 300 million people per day, 100 million in the u.s. that are coming on a monthly basis. and the exciting thing is that this last 100 million have joined faster than the prior 100 million, so we're seeing tremendous momentum around the world and enthusiasm for a platform that is all about visual communications and d

kayla tausche also and sara ice never. >> the betting has moved. we were as long as 7/1 for an exit. it's now 5/1, implied probability expecting to remain, 83%. but a slight improvement. they haven't had any polls for quite some time. now it's 48-46, leave. what does the next few hours hold for us? as you said, polls close 5:00 p.m. eastern time. we do not get official polls. that's when we ask people when they come out of the polling stations how they just voted. that's not happening. within a half hour we get that. we get a telephone poll of people just at home from the company. you've got all eyes, of course, on that, but having spoken to a number of pollsters, they're not saying they're confident it would be treated as much as an exit poll would typically, so we will have to wait until the early hours. all polls are being cared out. we don't know who those clients are. >> well, we'd love to get our hands on the numbers too. stay right there, will. kayla, what about impacts from the banks on the brexit vote tonight? >> reporter: well, because we

tausche, kayla, thank you very much. >>> kayla hit on europe's succinct. now let's talk about the u.s. banks which also have not been hit nearly as hard, j.p. morgan chase, bank of america and citi group all down between 7% and 9%. let's bring in analyst and managing director, obviously royal bank of scotland, barclays, these down 35.2% in two sessions. we're not down as much, but i wouldn't call 9% nothing. are we going to be for lack of a better term sort of infected by the brexit contagion with our banks? >> to a degree. this is a serious issue for the large u.s. banks for what i call the four cs. one is the extra cost, more expensive to do business in europe. second would be capital markets. a risk-off environment's not good. the third c is currency risk as you translate those earnings back to the united states. and the fourth c would be central banks with lower for longer interest rates. we think the largest banks have earnings at risk from 10% to 15%. that's some short-term pain. >> 10% to 15% is a downside on the eps. >> that's a lot. >> in what yea

. >> ken, this is kayla tausche.emember a lot of hand wringing a few years ago about the future scripps networks, once the scripps trust ended. your stock is just about 1% from the level that it reached back in 2012 on that acquisition talk. i wonder if the current environment has made you think you can go it alone or if that would eventually be the route you would take? >> kayla, as you heard me say and, david, we talked about this many times. what we focus on is being the very best company we can for consumers we serve each and every day and ultimately that will add value for our shareholder base, be it the scripps family, who is very active and very passionate but also the public shareholder base. so long term great story telling, a great consumer connection and great content in the home, food and travel categories. i think it bodes well for our shareholders. >> and it's come through lately in the ratings and the advertising. let's end on that, ken. what are you seeing in the advertising market right now? a lot of

kayla? >> the headline is is is that nearly all of 33 banks passed. what's moving the to ing stocks flurly rf of press releases. american express, the most cent announcement to hit wires. the company is raisinging dividend from 32 cents to 29 and will repurchase up to $3.3 billion in stock. jpmorgan for its part announced a $10.6 billion stock buyback, reiterate iing a 48 cent divide it disclosed a few years ago but the stunner is citigroup, raising to 16 cents from 5 and its buyback to 8 pnts $6 billion. earlier in the year, there was an expectation citigroup would not be asking for more, but then krien ess. morgan stanley upping from 20 to 15 cents and that it will buyback 3.billion in stock. they did get an not necessarily an objection, but they need to resubmit by the end to have year because of certain qualitative issue that is the fed found with the way it plans for it. james gorman said we are committed to addressing the fed's concerns our capital planning process and fully expect to meet the requirements within the time frame. that time frame,

kayla, thank you for now. >>> we want to point out british pound taking another leg lower. it's getting smashed right now after an 8% decline on friday. the selling continues. just in the last few moments back down into the 132 region. the 1.3229 is the low since 1985. >> this seems small but 3% for cable and sterling/u.s. dollar is a massive move. >> you don't see it in a year and now we saw it one in day and it's continuing. >> still to come on this special of "worldwide exchange" from london this morning's top stories and market action. plus, the political fallout from the u.k. vote spilling over to the other side of the atlantic. we look at how brexit is playing out in the u.s. presidential race. >> here are other european countries that may be at risk of contagion following the u.k.'s referendum. >>> good morning. welcome back to "worldwide exchange" on cnbc. >> we're live in london today across the river from the house of parliament following the fallout from the brexit vote. early this morning u.k. finance minister george osborne attempting to calm financial markets

. >> steve: where's kayla? >> fynn: looking for you two. she went with john about an hour ago. >> joey: so we just missed her? >> fynn: yeah, we tried calling you, steve, but it went straight to voicemail. >> steve: my phone's dead. you got a charger i can use? >> fynn: yeah, yeah, sure. it's just here on the floor. >> steve: maybe she left a message. so how has she been feeling? >> joey: wait, what? is something wrong with mom? >> steve: joe... the truth is, your mom hasn't been feeling so good. >> kayla: this place is such a dump. i can't believe that joey was staying here. >> john: yeah. no shortage of cigarette burns, either, if that's what they are. ay

kayla tausche joining us now. good morning. >> good morning.here's a little bit more than an hour left to go in european trading and the worst of the bank stocks today have cut their losses in half but rbs, barclays, lloyds down more than 10% amid the fears you mentioned the uk could be going into recession according to goldman sachs by early 2017. there are earnings targets that have been dramatically reduced and then the calls that we could see a boe rate cut or further quantitative easing. it's not just about the banks or investors are fearing the worst about the balance sheets, it's skmg the fact that this has spread across all industries. the uk home builder index lost about a fourth of its value and it's hardly a banking issue when you think about the fact that the banks are lending to these companies, supporting a lot of this commercial and residential real estate building. people on the streets are looking at their bank accounts, mortgages, pensions and their pounds and seeing them decline in value and the worry now is that the psycholo

kayla, i want to note this morning around 7:00 a.m. as we got news that boris johnson was leaving the tori race there seemed to be some impact on our u.s. markets. dollar pushed a little higher. there you see what happened to the u.s. dollar index, moved a little higher as he announced he was leaving the tori race. other moves as well. interest rates here in the united states moved slightly to the down side as well. i'm wondering perhaps there may have been some belief mr. johnson may have been able to negotiate better terms for the move out of the uk from the european union or at least the market imply somehow he removing himself would be a potential negative for negotiations down the road. at any rate we're sitting near the highs for the day, s&p up ten points right now. back to you. >> generally size up the second quarter of the year for us. what are the most notable moves we've seen, what do you think we should be watching into the close today which is the last day of the quarter. >> a notable quarter for some commodity names. ener

kayla, back to you in san francisco. >> thank you, julia and john."power lunch" catch the surveymonkey ceo zander lurie. so it is 2016, and we don't have flying cars, but that could change sooner than you think perhaps. we will have more on that when "squawk alley" returns. >> bac to the future may have been wrong for the flying cars, but maybe not too far off. bloomberg weeks reports that google founder larry page has secretly spent more than $100 million to develop flying cars. page owns one company that is invested in this area, and not just a fancy idea. one of the aircrafts reportedly takes regular test flights and it is electric powered and there is a lot that we don't know about the story, but we talked to dean cayman the inventor of the segway who said he would not bet against larry page. >> and who doesn't want one, because what about a flying helicopter. >> and we thought it was a flying hel kopt her in the skies, but it is going to be harder to keep track of what page, bezos and musk are doing in the extracurricular time, and what is a cor

>> reporter: well, kayla, steve jobs once said that software is the soul of apple's products.ide developers conference, apple is expected to unveil new soul for its developers, customers and investors. so, siri, which of course is that voice-activated virtual assistant, is expected to be the focus of today's conference. apple's ceo, tim cook, needs to make sure that siri is keeping up with its rivals, so specifically amazon's alexa and google assistant. apple's expected to announce that developers will be able to integrate their apps with siri, and that's important, because in this war of virtual assistants, apple's greatest asset could be that community of developers all around the world. for example, users could then possibly use siri to order uber or book a reservation on open table. we also expect to hear about changes to apple music. in april, remember, apple revealed that that service now boasted some 13 million paying subscribers, but we know it's also been criticized for being confusing to use. reports suggest that apple is now going to make apple music's interface sim

. >> this is kayla. >> hi there kayla. >> good morning. >> so what did you ask them to do. >> i toldm they need to pick up blue paint and white paint and lets work out this background. >> you show them a finish product and greg our own cameraman will show finish product right now it is a vase full of sunflower because i'm from the sunflower state isn't that sweet. >> yes. >> we wanted a happy painting for you guys, happy, cheery good day. >> do you do other paint goes at all. >> so by the way kayla is this hard to do? have you ever met somebody that just couldn't do it at all. >> no, it is more of an issue i need to you trust me. >> trust the process. >> trust the process, right, because everyone that typically comes to us isn't necessarily what we call visually handicap, so i need to guide you step by step in ways that are way more simply fight. >> you break it down. >> almost like painting by numbers. >> no, no, no. >> i got an idea. i got an idea. by the way i just finish this painting, tom. i call it polar bear in the snowstorm. >> is that nice. >> abstract painting there. >> let

kayla tausche. thanks. and on the session, deutsche bank shares down by 1%.anks, a nice bounce over the past few days and even if we're expecting in em to increase payout, they've been dogs this year, lebenthal. >> they have. frankly, i underweight them and see no reason for that to reverse with where interest rates are across the globe. having said that i do like citigroup, two reasons. one it probably is the most potential increase coming out of the ccar in its capital return and trades 65% tangible book value. too big a bargain for me to avoid. >> what about this? >> i am in it and like it for the same reasons. getting a little torque out of this. i don't think the yield curve is going to kill them still. but i think from bac look at where that trades versus its book and look at where that thing could go and look where the rate is now, the yield, and where it could potentially go to, i think that makes it look more compelling. jamie dimon's already given 2.3%. >> that's right. in terms of this event is it a sell the news event? is the bounce we've seen the

kayla joins us with more. so, good news for most, but not for all. >> yes, 30 banks passed with flying colors. out of 33 banks, the federal reserve has been going through these tests for six years and there are always a few who don't make it through. this time, it was morgan stanley that has to resubmit its capital plan by the end of the year, but the company can go ahead with planned increases and its buyback. and the company is increasing its dividend to 20 cents per share and buyback to $3.5 billion per share. deutsche bank trust and -- did not pass the test. they failed on qualitative terms and while senior fed officials say they did see some progress at those companies, there were still serious di efficiencies with the way they planned for potential stress scenarios. mnt banks, the r would n have passed if it had submitted its earlier capital plan, but with feedback from the federal reserve, it resubmitted a lower capital distribution plan and passed. notably some of the big banks did come out with sizabl