jonathan: we will be keeping a night on rbs throughout the morning -- an eye on rbs throughout the morning. the big story, the rate cuts for both new zealand and south korea for two very different reasons. >> let me get started with the currency. this is where we saw the big swings all morning. the new zealand dollar currently at the lowest level, not seen since august of 2010. let me tell you, this fell even further this morning breaking the $.70 level, falling to $.69 this morning. we are seeing the australian dollar rising, a completely different story. because of the jobs data out of australia coming in much better than expected with the unemployment rate dropping to a one-year low in may. the australian dollar just jumping. it has come down from the gains. if you look at the aussie dollar compared to the kiwi dollar, that is where you are feeling the surge. currently, it is gaining 2.6%. i will not get into the korean won because we did not see much reaction despite the be ok cutting -- the bank of korea cutting rates. let's see how the major markets have wrapped up the day. australia

sell rbs at a loss? guy: the korean story is great, because you can look at this and analyze it in a number of different ways. the economy is faltering, the economy is running out of speed but we have analysis that says if you look at where inflation is and where unemployment is the economy doesn't need it. this feels really preemptive in terms of the way they are positioning. anna: the bank of korea they say is an eminent consumption, then you have the kiwi and the new zealand central bank. that was not expected. what's happening to dairy prices is causing some sluggishness in the economy. guy: we don't talk about dairy prices enough. anna: in matters when you work on a breakfast show. [laughter] guy: things we will be talking about coming up -- greece. the big question is has merkel blinked? it feels like she has. they have got to keep greece. guy: they have to keep greece in the eurozone. if you are negotiating and one of the threats is we will leave, you have to make sure that doesn't happen. anna: a

i'm outside rbs headquaters. the government sales stake will start in earnest along side further sales of the royal mail and he also said he would enshrine a commitment to austerity into law and we also heard from the governor with stern words on how to con to bankers in the future. to discuss that with me is andrew a senior economic advisor and former member of the monetary policy committee. good morning to you. let's kick off with the comments from the chancellor that he's deciding to enshrine into law a desire moving forward to balance the books. what do you make of that decision? particularly the aspect of enshrining it into law? >> it's more symbolic than anything else. in practice the government immediates to balance two things. one is getting the deficit down over longer term and hopefully moving into surface if the recovery goes on long enough but also the short-term fluctuates in the economy and fiscal policy is always about that. i'm not sure that it changes anything fundamental. it's a symbolism that t

is there a reason the budget summary and detailerize not consistent between the 4 provide rbs? some have a budget and salary summary and oprailting detail or salary and opwaiting detail and some don't >> the requirement is all v the full budget and i do know there is just a summary sheet here, but we do get a full budget for each. >> sh of the others later have missing various details as well >> sorry about that. i believe contracts did provide the full budgets for these programs. i know i reviewed them, i don't have them in front of me but i did review them. was there a particular item or- >> when you roll through these you get used to looking at all 3 and when you are missing some you are not sure what you are approving >> i can say these agency operate with very minimal staffing. their staff is very company tent and very qualified and for the time being they are able and willing to work for not such high salaries. they are able to maintain the quality of service because we are seeing young attorneys come into the program and getting their-getting grounded in the community an

and the mission is absolutely severely impacted by there crisis rkss but it isn't just the mission rbs it is a lot of different neighborhoodss in district 9 in what i represent and other parts of the city. it isn't just in the last few years. i have been in the city in the cast fronearly 20 years and i remember the last time we had a very very horrible crisis that impacted the mission and castro and other neighborhoods. unfonchinately this isn't new. we have had a long term problem with the cost of housing in this city with the need to keep people stable nin housing and for the lack of affordsable housing in the city and we haven't done enough to build affordable housing and quickly enough and kbet it delivered and get the residence into the housing and need to do more. that isn't just true today, it was true 5 and 10 and 15 years gow and 30 years ago. we have not done enough and need to do more and think we are in agreement with that. we need to make sure we ate enough housing for the city. we have grown by all most 100 thousand people in the last 10 year jz not created enough housing

i believe our may rb will be planning to go back to china next year. i i think that is on his agenda but not thist year >> thank you. good. >> i think there is a delegation coming from the shanghai free trade zone if i recall. in honor of our anniversary but also to bring a number of investors to look at the projects they are exploring and that includes public private praunlects at that time so don't think they set a date yet but they are looking at it some time in november >> i heard about that. there are a lot of delegation squz the key is making them worth while. the chinese love coming here to do business and enjoy our blue sky and sun hp shine as well >> thank you. >> thank you again >> thank you very much for coming. >> [inaudible] i don't think there are public comment. are there other commissioner reports? seeing none, next item >> iletm 7 a request approval of fiscal year 2015, 16 monthly rental rate schedule, multhly parking [inaudible] filming and public art. item 7 b request approval of [inaudible] incorporated doing business of [inaudible]

rbs has run the numbers on a greek exit.gn and the private debt assuming that the new currency is worth 40% of the euro. their conclusion, a greek bailout would cost the eurozone $239 billion. about 2.4% of eurozone gdp. rbs says that is a manageable sum. however if they were to restructure the greek debt. it would probably cost them about half of that. so for the yoerngs the moeurozo optimal outcome is to restructure the debt to 11%. the biggest cost by far says rbs is a greek exit on the greek economy. though arguably that's not what the greek prime minister is telling his people. >>> up next, apple music is officially live. i've got it here downloaded on the phone just a couple of moments ago. according to walt mossberg the service is quote rich robust but somewhat confusing. walt joins us live to explain. >>> apple music just launching this morning. walt mossberg has had the chance to test the service for about 24 hours. he calls it rich, robust, but a bit confusing and joining us now is re/code co-executive editor walt

her presentation first on your calendar this afternoon scheduling items we feel our office for the aa rb has a good schedule on items we've work through a couple of items with the careers oversee staff more space being needed i will let dawn mention if this stacey space is needed she thinks she can do with the next cycle and in addition to there's one thing we can specifically do with board 3 since they've gotten through the residential backlog we can sunset that board 3 it will property owner just to residential and having have it go back to the original purpose for residential in addition to commercial and new construction and we can kick up our scheduling that specific way okay. so again that will take a sprap legislative action for the board to have that happen. >> i'll need your assistance on that. >> okay. colleagues if no other questions or comments we'll accept those for the facebook. >> we'll accept those motion pie supervisor tang and seconded by supervisor mar we'll take that without objection. >> a motion to file 18. >> i move we file 18. >> motion we'll take that without obj

let's also mention rbs which is holding it's agm coming up later today. it's up about 0.36%.atherine has more details on what to expect. catherine. >> well, if you're an rbs shareholder which we are still you have plenty of reasons to be cleared with what's happened in the past few years they're still suing the bank over how that was conducted. it could be angering shareholders is this potential that rbs may have to pay government fees for the 80% stake in the bank and of course this is going directly into the pockets of goldman sachs rather than the shareholder so there could be a little bit of a revolt there. quite a lot of issues facing the bank including those other profile failures which may also separate attempts to sell off challenger bank. >> seeing rbs shares up about 5% over the past 12 months. >> let's pick up on the other big movers and we're looking at air lingus up 0.8. it's in exclusive talks with apollo on the sell of the french company's manufacturer. let's get out to stefan live in paris with all the details. >> good morning, wilfred. 3 billion euros is the

. >> how valuable do you think this meeting is to bring rbs recognition to the city of bosnia. i know we're having problems with lawrence, lawrence, can you hear me? let's leave lawrence, he's been having bad sound problems. there with the pope. >>> western sanctions have failed to get russia to change its course over the conflict. nah nah diemnadim baba reports. >> left nearly 30 people dead and some of the worst violence known as the minsk zeal happened in fek. ukraine's president petro poroshenko has told a news conversation that 54,000 have been deployed the into the action zone. >> translator: is russian aggression possible or not? the amounts of troops in the territories is unpress accidented. since august of this year there has never been this many troops deployed at our borders. >> united nations on invoice at ospecial session. >> clearly indicates russian answer intenses to diswrum the process. an attempt to exert military pressure on international players on the eve of important international events. >> for its point kiev.accused. >> i won't go into a discussion with

my name is rachel cisal and write to supervisor campos and eastern and lived in supervise rb avalos district [inaudible] i work for a san francisco reck and park and got evicted this year and i barely held on to stay in this city because my family libed in the mission with my little niece and nephew. my nephews prescrool school is evicted. this isn't supply and demand. and strongly support a moratorium t is time to take a breath. if you run out of all the space for affordable housing in the mission there is no supply for that. we need to take a minute. your skity workers with barely afford to live here. your teachers, garbdners labors, my own union support this build ing boom, but don't know how we are supposed to afford to rent. my rent is asronomical. my partner works at a tech firm down town and supports this moratorium. we vafleed for housing sfr support the working plas and pdr and make sure your dezser service workers are here to help because if your labors and first responders live in east bay i don't know how we will get here to take care of the city when you need us and i want to be

rb single to left gives arizona a 4-0 lead. 6 hits, 4 earned runs and 5 walks. finally shows. to left. that's going to score. second straight loss to arizona. >>> as taking on angels albert pujols deep. angels up 1-0. after making that mistake settles down. here is johnny swinging. c.j. wilson no mistakes tonight. grounds in to an inning ending double play. wilson in the fifth strikes out. c.j. wilson struck out 8. right now angels lead 1-0 in the eighth. complete highlights at 11:00. much more from the warriors on abc 7 and we are not really in the profession whe we can tell fibs. >> so i think steve is havin fun with the media and the opposing coach. >> good for him. >>> next on abc 7 news at 9:00 what a day for a ride through kids are expensive. so i'm always looking to getore for my money. that's why i switched fr u-verse to xfinity. they he the most free on demand tv shows and movies on all my devices. it's perfect for me because my kids are costing me a fortune. i'm going to cabo! ♪ don't settle for u-verse. xfinitis perfect for people who want more entertainment for the

tang, no. 5i, 6 no wean rb breed, christensen cohen, farrell and tang voting no >> the motion to send item to committee fails. madam clerk can you call the roll on the item as amended >> item 23, wean, aye. yee, no. avalos no. breed, aye. campos, no. christensen, aye. cohen no. >> madam clerk i can't hear. >> supervisor kim [inaudible] >> recess while we clear the room. we left off at the vote and we were at supervise r christensen. >> christensen said aye. cohen, aye. farrell, aye. kim, no. mar no. tang aye. there are 6 aye and 5 no with supervisor yee, avalos, campos, kim and mar in the descent. >> okay. the resolution is adopted as amended. madam clerk can you please call the next item >> item 24 is ordinance to amen it admin sthraitive code to establish the cannabis legalization task force to [inaudible] regarding the local impact of possibly legislation of cannabis and setting forlth the membership and deutaeds of the task force >> colleagues today before us is legislation to create the cannabis state legalization task force. i want to thank my cosponsors supervisor kim and super

that's one of the rbs that this mono clowe mall anti-body reacts very well. >> is there any kind of screening? you talk so much about prostate screening. there are all different types of screening to catch this? it's scary stuff. >> it's interesting when you ask this. when it comes. then you don't see anything until 55, 60. with this nonkinhonch kins, it s older. >> you want to go to your doctor and have it checked. >> i want to state the obvious, if it's getter bigger, get it seen. scan yourself. david has started this is a mehdi challenge which is to get it. >> that's a very good point that mark is bringing up. ignore it. as julie mentioned, you catch them early. cure is way up there. >> certainly our thoughts and our prayers are with the governors that he has full recovery and he caught it in time. >>> it could be a lot worse. scientists say it could be what we've got inside our gut. trillions of microscopic bacteria live in there. do you believe that? the doctors tell us what we can do. we'll be right back. oh no. who are you? daddy, this is blair, he booked this room with priceline expre

mentioned there was 18 sthinets mission where affordable housing could be built, but already develop rbs for the wealthy have taken 5 on which to build luxury housing. if you won't for supervisor campos measure you can give us a chance to plan and find non profit developers and money for the 13 remaining places. we need this plan for the mission. supervisors you need this plan for your districts. i have livered in san francisco over 40 years most of them in the mission as a educator and activist. it is not fundingicalinized by the 1 percent. please stand with us in your district, your community with the 99 percent. vote for campos's legislation. tell the wall street weal estate developers to give up colonization and gent fiication. save the mission, save san francisco. >> thank you. next speaker please >> my name is cay walker andinate v san franciscan and 40 year veteran of labor. i was a officer [inaudible] over and over and speaking from the great panthers which is a organization for seniors. i'm here in support of campos's legislation orphthe moratorium in the mission. i'm here to su

hoy lÍderes comunitarios protestaron en las afueras de la compaÑÍa rb&b para mostrar su apoyo de regulargular su funciÓn porque estÁn trabajando como hoteles. >> es la misiÓn, casi 40% de unidades de vivienda que podrÍan ser usadas como residencias para residentes estÁn siendo usadas como cuartos de hoteles para turistas, esto afecta la crisis de vivienda que tenemos. luz: una encuesta realizada demostrÓ que de 500 residentes de san francisco el 73% estÁ de acuerdo con que esta compaÑÍa sea regulada por la ciudad. maÑana el supervisor, campos, presentarÁ esta medida a la mesa de supervisores. >> una legislaciÓn que verdaderamente puede regular el alquiler de vivienda al corto plazo. luz: de ser aprobada la propuesta san francisco la lista de regulaciones serÍan las siguientes. limitar las noches en una casa se pueda rentar a sÓlo 75 dÍas al aÑo, permitir que compaÑÍas como esta sÓlo puedan publicar la disponibilidad de viviendas registradas en la ciudad. proveer un aviso a vecinos e inquilinos cuando un puerto o casa estÁ registrado como vivienda temporal. permitir que otros inquilinos y

her presentation first on your calendar this afternoon scheduling items we feel our office for the aa rb has a good schedule on items we've work through a couple of items with the careers oversee

last year another development [inaudible] also 28 ache rbs of public land. this measure ftss supported by elected officials, sierra clobe squaneighborhood oceans. know as propersition f they rezoned to 190 feet [inaudible] the important public process requires and committed to 30 percent affordable housing without $30 percent affordable housing without guarantee of public taxpayer. the giants propose 230 feet [inaudible] beyond utilizing the word affordable in the measure and incoms public funds to build this. critics may call this a [inaudible] which prevent development. our proposal will build as much housing as their proposal. most mission bay developers are building at 120 feet. these developers are willing to [inaudible] if we don't do this on public land today we can't spect private developers to meet our goals on private land. let's model the leadership we want to see. giants fans dissever to be able to afford to live in the home towns team. thank you and the rest i submit >> they think supervisor kim. supervisor mar >> thank madam clerk. colleagues y

this is what rbs is suggesting, as far as the incentives actually now to accept an ult mail up.ajority of greek voters want a deal now. if he doesn't make the payment on friday, you'll have chaos in greece as you go through the softer period of deadline with the imf, possibly a referendum. possibly his own career could be the end as prime minister if the chaos threatens the summer tax rei receipts as we go on holiday and the bigger prize is the debt restructuring. to that point, the dutch are getting all excited because their auditor has suggested that the dutch may never get repaid the amount they have left the greeks, 240 billion euros in all from the rest of europe that if he does his job properly he may get those loans softened is the argument from rbs. don't throw your toys out of the program now. do an interim deal. tomorrow we may know. >> never throw the toys out. you might want them later. >>> when we come back, from one of the earliest employees at facebook all the way to co-owner of one of the best teams in basketball. no, not steve vollmer, chamath palihapitiya, co-o

. >> you mentioned rbs. would you be buying into this? >> absolutely. they look to be two years behind where lloyds is. it's .9 of value. so small numbers. if it can make that path from .9 you're making the best part of 79% on a two year view and our guess is a classic short-term interest rate play here. if you are the average individual being paid about 30,000 pounds a year you cost rbs money because you get your paycheck at the start of the month and run it down to zero and don't have a loan. they cannot make any money and all we need is interest rates to creep up a little bit and suddenly their whole deposit base owns the money. a short duration asset that exists in the ftse that is very cheap. i think rbs is a very interesting place to look. >> is that krour top pick of theyour top pick? >> yeah, they have done well as well but we look cautious about long-term. we welcome everything they're doing. they are determined to hook like lloyds two years from now and i would encourage you to think they might be valued like that in two years time and that's

inaudible] after a number of years without any academy classes. 1971 number was established in the chart rb in 1994 when we were a smaller city. our population has grown by over 13 percent since then >> colleagues excuse me. clearly we will not be able to conduct business with continued outburst from the audience so either you allowtuse conduct business or we can take a recess and not continue with this item. sfr visor e supervisor wiener >> if you increase 1971 by the 13 percent population growth you exceed 2200 and that is wie we propose 2200 model san francisco is continued to grow by another 150 people by 2040. if we don't modernize the staffing goals the shortage of police offices will get worse. the 2200 number isn't just adjusting the [inaudible] or the fact we have neighborhoods that did not use today exist, other analysis comes to this same conclusion. in 2008 when we were a smaller sit a the police executive resuch form published a report of staffing police goals [inaudible] come including staffing levels up to 22 50 office. we now have the controller report that looks at the staf

there are lots of other changes you will hear about over the next hearings rbs but i want to highlite these. going into a little more detail-these are a number of different investment in public safety departments. police academy. [inaudible] in the first year of the budget and additional 3 in the second. as you know the mayor included funding for body camries for all of our police officers as well as the associated storage and staffing costs for that video footage. we are including funding for new pair medics fire fighters and 911 dispatchers and making [inaudible] capital and technology across the public safety departments irn particular making significant investment in the radio-public safety radio replace 789 project over the next 2 years. in the health and human services realm i aurmd mentioned the new investment in homelessness prevention including 500 units of housing, nav gaegz center pilot, subsidies for homeless families and medical respite service said mpts we also included new funding for senior centers, investment in the community living fund to help seniors and people wit

. >>> rogelio mora-tagle muy bien dicho rbs gracias el ex gobernador de maryland y ahora precandidatodpra trigratoria y que si ruct electo serÁ sacar a los in doc dgs de las xom obras. >>> los primeros 100 dÍas no solo planeo presentar un proyecto de ley en el congreso con respecto a esta reforma integral. de inmigraciÓn para ser ciudadanos pero no me voy a rendir hasta que se logre esto. tendremos mÁs de esta entrevista este domingo en enfoque a las 12.11 centro. >>> una fiesta cerca de la universidad de california en berkeley terminÓ de forma trÁgica cuando el balcÓn de un apartamento donde decenas de jÓvenes gel superaban se derrumbÓ hay 6 muertos y 7 heridos algunos de gravedad. y cristina londoÑo nos acompaÑa de berkeley con mÁs. adelante. >>> >>> gracias mary en el edificio a mis espaldas en el balcÓn del cuarto piso habÍa 13 jÓvenes celebrando cuando la estructura se deprendiÓ y quedÓ suspensiÓn deudo sobre el balcÓn del tercer piso. los trabajadores construcciÓn vinieron a remover, los jÓvenes por su parte, no quedaron suspendidos. ellos se estrellaron contra el >>> ocurriÓ a