rebecca jarvis reporting. local councilwoman in new jersey shot while sitting in the driver's seat of her car, but authorities have just revealed. there is also news about former first lady rosalynn carter. america strong tonight, you have to you see the last day of school for a beloved music teacher in the performance even he cannot predict. ♪ ♪ >> announcer: from "abc news" world headquarters in new york, this is "world news tonight" with david muir. >> david: good evening. it is great to be back with all of you at home. we do begin with an urgent search after the collapse of a building in davenport, iowa. they believe at least two of them are still missing inside. they were able to pull a woman out 24 hours after the collapse. community members demanding they keep searching. first responders helping residents out. k-9 units helping to look for any potential survivors. then the discovery more than 24 hours after the building came down, the woman appearing at a fourth floor window. they are is getting her out

in one with rebecca jarvis this morning on good morning america.we begin with a special performance in the nba in front of a very special friend came during the 76 ers playoff game against the celtics 76 or star james harden invited a guest john how was paralyzed in the mass shooting at michigan state university back in february. since then, he's developed a friendship with harden, who also invited house parents to the game. he's bouncing back. he's recovering very well. and i feel like it's my job. just give him that light that smile that he deserves that he needs and hopefully, you know , today was one of those days where you know what i mean. he's smiling. hard and autographed his shoes after the game and gave them to how hard and also led the 70 sixers to a thrilling overtime win over the celtics, even their series next basketball hall of famer now going by another title college graduates, palin returned to yukon picking up his diploma yesterday. that is the same arena where his former number is now retired. he left school in 1996 for a career

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rebecca jarvis standing by. >>> the judge denying trump's request to get the trial thrown out. e. jean carroll returning to the stand in her rape trial against the president. hear how they answered in the courtroom. >>> treasury secretary janet yellen and her warning today that the u.s. could default on its debt as early as june 1st. a matter of weeks, urging congress to act. mary bruce tonight. >>> the war in ukraine this evening news of an american killed there. what new u.s. intelligence is now saying about russian losses. the violence breaking out in paris. mayday protests after the retirement age there was raised to 64. fireworks and molotov cocktails thrown at officers, one of them on fire at one point. >>> here at home tonight, police searching for two dangerous inmates who have escaped. one of them linked to the murder of a deputy. singer ed sheeran on the stand, trying to make his case that he didn't copy marvin gaye. >>> and deborah roberts is here tonight. her journey back all these years later to find a teacher, a librarian, who helped her change her life. you'll see w

not yet rebecca jarvis with the interview tonight. this for you tonight. the abc news exclusive billionaire philanthropist and microsoft co founder bill gates on his optimism and his warning for americans on the meteoric rise of artificial intelligence . are you scared? we're all scared that a bad guy could grab it, uh, let's say the bad guys get ahead of the good guys, then something like cyber attacks, you know, could be driven by an ai, the white house administration regulators here in the u. s do you think they're up to speed yet? they're not ready yet. i mean, are they not ready? you're never going to have every politician. understanding it. but how do you build up the capacity to review things? you know they won't be the experts that they have to be part of that discussion. why not put a pause to it while we just figure out some of these very basic things, just pause the good guys and you don't pause everyone else. you're probably hurting yourself. you ditel want to have strong ai. can you guarantee that if you stop the good guys, you can guarantee i

chief economic correspondent rebecca jarvis is here now with the latest. morning, rebecca. >> good morning, michael. americans now collectively owe almost $1 trillion on their credit cards according to the federal reserve bank of new york. typically these balances stop at the start of the year, but for the first time in 20 years we are not seeing that. instead, what we are seeing is this combination of higher living cost. inflation means that it cost families about $300 more every month than it did a year ago. we also have the far more expensive credit card apr. they are at record highs. that combination makes it so tough for families to dig out. economists are predicting it will likely continue to climb from here. >> what can people do to try to make a dent in their credit card debt? >> we know so many people want that. which is why we are here to help. if you are committed, there are some options and great resources for you. there's the mint app. that lets you look at your spending. you can set a budget. you can have everything all in one spot. there's a

to go into recession, and our fiscal challenges will be made even worse. >> for "this week," rebecca jarvisws, new york. >> thanks for that. they're joined by secretary janet yellen. thanks for joining us this morning. let's start with the timeline of this possible default. you said earlier this week that you expected it could come as early as june 1st. i knew you get new information every day. that still your best estimate? >> yes, early june is when we project that we will run out of cash, and there is a chance it could be as early as june 1st. of course, there's a lot of uncertainty, and i plan to update congress as new information becomes available. but that is still our current thinking. >> george: are there extraordinary measures you can take around that time, or is that it? >> really, that's it. we have been using extraordinary measures for several months now, and our ability to do that is running out, and we will start to run down our cash, and current projection is that in early june a day will come when we are unable to pay our bills unless congress raises the debt ceiling. and it

chief business correspondent rebecca jarvis starts us off from wall street. morning, rebecca. >> reporter: good morning, george. it is highly unusual to see a bank of this magnitude go under. first republic had been teetering on the brink of collapse for months and this morning it has a new owner. overnight the third bank to fail in the u.s. since march. financial regulators seizing control of first republic bank and striking a deal to sell it off. jp morgan chase acquiring all deposits and substantially all assets held by california based first republic, including 84 first republic branchs that will reopen as jp morgan branches. the ceo saying in a statement, our government invited us and others to step up, and we did. >> first republic has been teetering ever since silicon valley bank and signature bank were closed back in early march. so it is highly unusual to see, especially this magnitude of number of banks that are being brought into receivership by the fdic. based on our analysis of the banking industry, this was the last of the ones that should face

rebecca jarvis is tracking the latest including another big bank in trouble. good morning, rebecca. >> that's right. good morning to you. shares of pac west, that bank plunging overnight, down 40%. the california based bank confirming it is exploring all strategic options which is wall street speak for iceberg straight ahead. the last bank to announce this was exploring strategic options was first republic. they collapsed earlier this week. a possible banking crisis is among the fed's many considerations, but the central bank still sees inflation as its biggest concern. that inflation costing the average family about $300 every month on the same goods and services as last year. the fed is hiking rates again by a quarter point. that is the tenth consecutive increase over the last year. interest rates are above 5% for the first time in 15 years. the most immediate impact you'll probably see is your credit card apy going up. average today is 24%. that's already a record high. there are things you can do to benefit from these rate hikes. we'll have more on that com

abc rebecca jarvis spoke with open a eyes ceo. i think people should be happy that we're a little bit scared of this. as a i reaches a milestone a big win for the tech industry. the u. s supreme court unanimously sided with google, facebook and twitter and a pair of cases brought by families of americans who were killed in terrorist attacks. overseas family's alleged the tech companies were indirectly complicit in the attacks by not removing extremist content on their platforms. never talked that's something that's going to happen to her could never imagine it. no no. but the justices weren't convinced that companies directly led to the attacks. there are very few points in this complaint that alleged that they aided the persons who actually engaged in the terrorist act. the justices not answering the question of whether tech giants should get blanket immunity. the tech companies say they have condemned the terrorist attacks and are working to keep violent content off their sights. as for the new chat, gpt app the basic version is

bill gates one on one with our rebecca jarvis. what the billionaire microsoft co-founder is saying about the rise of artificial intelligence and his new commitment that could be a game changer for american energy. >>> new trouble for tiger woods. the golf great's ex-girlfriend accusing him of sexual harassment, suing for $30 million. >>> millions of checks going in the mail this week. how to know if you're getting one of them. >>> mental health. your heart and your brain. how stress and depression affect the rest of your body. the new report out this morning about the top issues facing americans. dr. ashton is here. >> and overnight the star studded coronation concert, celebrating all night long. ♪ and the spectacular drone show wasn't the only thing lighting up the sky. maverick himself, tom cruise, flying over with a message for the king. >> pilot to pilot, your majesty, you can be my wing man anytime. >> gma is taking you behind the scenes of the biggest moments from the historic weekend, as a new era begins for britain and wha

rebecca jarvis with the interview tonight. >> reporter: tonight the "abc news" exclusive, billionaire philanthropist and microsoft cofounder bill gates on his optimism and his warning for americans on the meteoric rise of artificial intelligence. are you scared? >> we are all scared that a bad guy could grab it. let's say the bad guys get ahead of the good guys. then something like cyberattacks could be driven by an ai. >> reporter: the white house, the administration, regulators, do you think they are up to speed? >> not yet. >> reporter: they are not ready? why are they not ready? >> you're never going to have every politician understanding it but how do you build up a growth capacity to review things. they won't be the experts but they have to be part of the discussion. >> why not put a pause to it while we figure out these very basic things? >> if you just pause the good guys and not everyone else, you're probably hurting yourself. you definitely want the good guys to have strong ai. >> reporter: can you guarantee it? >> if you stop the good guys you can guarantee it won't happen.

here is rebecca jarvis. >> this morning, and abc news exclusive. one on one with bill gates.got a fake image of the pope, fake images of joe biden. at some point, if those collaborate, -- proliferate, will that confuse people about what the truth is? the cofounder of microsoft on new clerk energy, artificial intelligence, and jobs. you have put millions toward this product. why are you committed to nuclear energy? >> if we do it right, it will help us solve climate goals. >> coming up, more with bill gates, including what he has to say about the rapid rise of artificial intelligence. kumasi: are hoping to even up the series against the lakers. game four is in l.a. golden state had an 11 point lead on saturday and then it also away. he lakers went on a and got control, ultimately eating the war -- beating the warriors. >> i have faith that our team can win any seriesong as we have more games to play. we are in the same situations we were in a year ago in boston, down 2-1 on the road. we know what we have to do to get the job done. that is the plan. kumasi: those faces. goodnes

jarvis. >> rebecca: as president button andthr firs talks this week, neither side is showing backing down.epublicans pass their bill is meant to raise the debt ceiling while dramatically cutting domestic spending. while democrats are insisting on a clean debt limit raised without conditions, -- >> the time to discuss those is not hostagetaking with the debt ceiling. >> rebecca: janet yellen has warned the u.s., default as early as june the first. president biden slammed maga republicans over the standoff. >> president biden: it does not have a damned thing to do with the budget. >> rebecca: analysts predict major consequences, job losses, no social security checks for 60000000000 seniors and unpainunpaid troops. the labor market remains resilient despite turmoil in the banking system and rising interest rates. the u.s. added 253,000 jobs in april outpacing expectations by more than 70,000. as unemployment hit a five decade low of 3.4%. the white house lauding the numbers. >> president biden: we obviously have more work to do but we are treading in the right direction and i think we are mak

rebecca jarvis has the latest. ning, rebecca. >> reporter: this is not something you hear every day, a ceo urging lawmakers to regulate his business and industry. that's what happened on capitol hill with the very people who created this technology. unsure whether artificial intelligence can do things like revolutionize education and health care without catastrophic side effects. this morning artificial intelligence in the hot seat. >> my worst fears are that we cause significant, we, the field, cause significant harm to the world. >> reporter: sam altman, creator of chat gpt appearing before a senate panel echoing the very fears he expressed to us just months ago. you are a little bit scared. you personally? >> a little bit, yeah. i think if i said i were not, you should either not trust me or be very unhappy i'm in this job. >> reporter: altman pledging to work with regulators to regulate the technology. many big tech companies from google to microsoft jumping in. the uses are endless, from speech writing to tutor

our chief business correspondent rebecca jarvis has the latest. od morning, rebecca. >> reporter: good morning, robin. target says theft and organized retail crime is becoming a major problem at its 2,000 stores nationwide. the company reporting it lost $763 million last year due to lost or stolen merchandise, majority coming from shoplifting. as a result, target is locking up more and more of its inventory on store shelves requiring employees to get help for those shoppers. they're not alone. according to the national retail federation, organized crime in stores is growing in scope and complexity at retailers across the country. downtown san francisco, stores like office depot, the container store and nordstrom's and whole foods have all closed in recent months citing safety concerns for their workers as well as their customers. there are several other factors hurting retail. changing shopping habits, more price sensitive customers because americans are faced with those higher inflation prices and they've begun cutting back. earlier this week home

abc news chief business correspondent rebecca jarvis with a look at the businesses that are going nowy on returns target. it's a growing trend among some parents on tiktok cashing in with millions of views come to target with us today to get some free clothes customers highlighting the lenient target return policy that applies to more than 45 target owned brands, including the popular kids and baby apparel line. kat and jack, we got $150 to shop for their policies stating if you're not satisfied with any target owned brand item, return it within one year with a receipt for an exchange or a refund. a target spokesperson telling abc news this guarantee is in place because of the confidence we have in the quality of what we're offering when guests shop our owned brands. what you are originally paying for the product at that price takes into account the lenient return policy. so whether or not the returns come back gently worn or or completely worn and not wearable, the retailer will take into consideration with that through their pricing relaxed returns are popular with other chains like

rebecca jarvis is tracking the latest. good morning, rebecca. >> good morning, michael. impact is far reaching. general motors is recalling nearly 1 million suv's including buick enclaves, traverses from 2014 to 2017 all with air bag parts produced by a company called arc automotive. this comes as the ntsb the urging arch automotive to recall 67 million air bag inflaters manufactured before 2018 because they could possibly explode and spray shrapnel. at least 12 auto manufacturers have used arc components in their recall. that could ultimately affect nearly one quarter of the cars currently on the roads in the united states. arc is pushing back. the company deny their products are defective. they claim any problem with the air bags resulted from random one off manufacturing anomalies that were properly addressed with individual recalls. u.s. regulators replied to that arc in at least nine air bag related incidents they said occurred between 2009 and march of 2023 that have resulted in two deaths and multiple injuries, michael? >> if you have one of these cars from 2014-2

rebecca jarvis is here with the latest. good morning, rebecca. >> reporter: good morning, robin.e are starting to see improvements in inflation. still at 4.9%, but that's better than where we were last summer. a key driver of that is gasoline. current national average is $3.53 a gallon. a year ago it was $4.37. but you're still paying more on a number of items that might be on the breakfast table. for example, groceries like bread, milk, eggs, all higher. used car prices were up a lot month over month, about 4.4%. the good news is if you're in the market for a new one, prices are already starting to drop. the bottom line, the fed will use this report to decide whether to hike interest rates yet again. robin? >> we'll see you in our next half hour and kroger's ceo is here to give us a food forecast as we head into the summer. michael? >>> time for the nba playoffs. nuggets are one win away from the finals. djokic helped denner in revein the series lead hitting a triple double. 29 points 13 rebounds 12 assists. robin, that's like a normal game for you in college. suns have one more

let's get more from rebecca jarvis at the new york stock exchange. ning, rebecca. >> reporter: the view here on wall street is that this deal will get done because the alternative is too catastrophic and everyone in washington knows it. this is why stocks are pointing higher this morning as a number of veteran traders have told me they haven't even taken into consideration or factored in the risk of a deal not getting done. that said, as we get down to the wire, there were a number of payments that need to go out on june 5th that could be not -- that could not go out as a result if this deal doesn't go through. for example, $1 billion in payments to military contractors are due on june 5th. $1 billion in medicare payments are due. you just heard from rachel there, a number of veteran, a number of military, a number of seniors are waiting, hanging in the balance, as this deal gets down to the wire. they have to think about their utility payments, their rent payments and the possibility they won't get those checks on time. mean time just like borrowers

now, when it comes to these returns, rebecca jarvis told us target is going in the opposite directionlicy. that's a strategy to promote customer loyalty and get people in store to make returns and hopefully buy more items. nordstrom's with a historically generous return policy. it makes it even more important to know the return policy before you make a purchase. >> very important. i know that you will be back with another report in our next hour. we'll look for you then, becky. >> coming up next, our hump day play of the day. tourists photographing thousands of miles of remote coral reefs. that can be analyzed by ai in real time. ♪ so researchers can identify which areas are at risk. and help life underwater flourish. ♪ (vo) purina one has the inside story on your pet's health. and help life it starts inside the gut... with purina one with microbiome balance. natural prebiotic nutrition promoting gut health and immune support. purina one with microbiome balance. trelegy for copd. ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze driftin' on... ♪ [coughing] ♪ ...by, you know how i f