make sure you tune ino cheer on ricardo on the voice.irs right here on nbc bay area every monday night at eight. ricardo is one cool cat. he's like, no, i'm not. yeah, i know, i was like. no, it's cool, it's cool. it's nice to know that in spanish, baby is pronounced baby. yeah, baby. look, you watch the show. you learn a lot. learn a lot. yeah. and we're going to learn about that forecast too. yeah. a lot going on here. there's a lot going on. it cold this morning. we have rain on the way. and then before we hit the weekend we may see some flooding in some spots. but this is a look at what we're seeing right now as you're stepping out the door. we're still below freezing. there is a frost advisory in effect. and it is 31 in napa right now, 41 in san mateo and san jose at 37 degrees. we're in the upper 20s in livermore right now in san rafael, you're walking out the door to 34 degrees. it is all clear for now, but we will start to see more clouds coming in over the next few hours with temperatures headed for the low 50s. rain will be bac

make sure you tune in to cheer on ricardo on the voice.airs right here on nbc bay area every monday night at 8:00. i saw that audition and i thought, i'm surprised no one turned around. and then when they came and said, boom! i was like, okay, i can see that. did you text michael buble? i was like, dude, what are you doing? and then he went, he was like, okay, marcus, i got you. so, you know, i'll be there to help out later. no. just kidding. phoning a friend. all right. different show. got you. oh, we can phone our friend. don't need to do that. we can just talk to her. kari. okay. weather wise, we can do that all the time, though. yeah. what's the weather going to be like here? it's kind of cold. we do a pretty wild over the next few days, changing quite a bit. it's just cold this morning and all clear. and it's 36 in walnut creek as you're stepping out the door, 37 in san jose and palo alto and 41 in san francisco. but look at this big storm system that is just about to make its way into the west coast and making an impact as well. so l

ricardo: fue un disco a control remoto aunque no pareciera por el sonido.fui a vivir una experiencia fantÁstica en nashville donde grabe cuatro canciones. sin duda me saco muchas partes que estaban guardadas. como una reconciliaciÓn mÍa. [mÚsica] >> antes de subirse a la tarima para interpretar alguna de las canciones de su nuevo Álbum como "despacio, pero hay prisa" se divulgaron algunos vÍdeos donde tuvo una conversaciÓn en su yo de niÑo le recrimina va. en otro videoclip una periodista con inteligencia artificial le habÍa dicho que ricardo habÍa hecho varias cirugÍas a sus 61 aÑos de edad. [mÚsica] frente a los periodistas que estaban presentes esa noche el animal nocturno reconociÓ que durante 15 aÑos habÍa mentido a la prensa en muchas ocasiones sonriendo que lo habÍa hecho sÓlo por diversiÓn y sin malicia. alan: ahÍ estÁ. se presentÓ ante varios medios de comunicaciÓn. por supuesto que tienes mÁs cosas en el revoltillo. mandamos un abrazo. jessica: estÁ muy cool que haya ese tipo de eventos super Íntimo. jomari: es un hombre que no da entrevistas, no

and as our state grapples with a home insurance crisis, the insurance commissioner, ricardo, lara, ising action that he says will save california's insurance programs of last resort. that's known as the fair plan. our capitol correspondent eytan wallace has a look at this 1 billion dollar bailout. >> well, a lot of says his action is necessary to save an insurance program. hundreds of thousands of californians rely on by critics argue it's nothing more than a band-aid for a much larger crisis. it's called the fair plan described as california's insurance of last resort. >> the legislature created nearly 6 decades ago to service a temporary solution to provide insurance for homeowners who have not been able to find coverage for their properties in recent years that very scenario has become a reality for more and more californians as more and more insurance companies drop coverage amid concerns over major fire losses. the fair plan is not paid for by taxpayers. it actually is an independent not-for-profit insurance pool. all the major private insurers in the state pay into given the sta

que ahora pues hay más, sensibilidad sobre los temas y entonces, bueno, el secretario de defensa, ricardo de las estrellas de la nba aquí en el área de la bahía. precisamente vamos a ir directamente hasta sfjazz center. ya están ahí listos? carlos y max. cuéntenos sobre esta futura estrella. qué tal? pues hablando de estrellas, las estrellas del mañana se forjan en las canchas más pequeñas, con los sueños que empiezan cuando son muy chiquitos. y este es muy especial porque les vamos a presentar a un pequeñito de apenas 6 años que da su primer paso en el futsal y que, bueno, sus sueños van más allá incluso de este planeta. hace muchos más años que county de. 6 años y fui a disney con mucha personalidad y también con la dulzura de un niño de apenas 6 añitos. se presenta césar sapién cuando le preguntamos por qué le gusta tanto el fútbol, no duda en mostrar su espíritu competitivo. porque. porque ganó un trofeo. porque me gusta ganar los trofeos. hace muchos años, hace unos años que gané un trofeo césar, quien da sus primeros pasos en el futsal, en la academia, jp smile soccer club en san jo

for this to move forward, the rate hike has to be approved by the state's insurance commissioner, ricardo lara, in response to state farm's announcement. his office wrote, to protect millions of california consumers and the integrity of our residential property insurance market, the department will respond with urgency and transparency to recommend a course of action for commissioner lara. >> it's shameful for state farm to be trying to take advantage of this tragedy. >> now, state farm was already granted a 20% rate increase in march of last year. four months later, the company requested another 30% hike last july, but that was never approved. so this 22% potential spike would amend that one and if approved, it would go into effect may 1st. and lisa, i know this is the last thing you want to hear as you've seen the impacts of this. >> yes. and i've been going to my friendly seven on your side to help me out because i'm having issues too. and yeah, i think it's ridiculous, but. >> we're going to get you some help. >> yes. thank you. stephanie. seven on your. stephanie is on your side. so

but now california insurance commissioner ricardo lara is taking action, he says, will save the fair plan, specifically his action calls on insurance companies in the state to bail out the fair plan with 1 billion dollars. lot of says those insurance companies will take on have to cost while passing on the other half to their policyholders. in a statement he wrote this, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. this is another band-aid on the insurance crisis that we're all in. i mean, that's all this is assembly insurance committee. vice chair republican david tang is skeptical of lot u.s. latest action keep us as he's concerned. the actually to insurance companies simply passing down higher costs to everyday californians. it's not even a real because that band-aid is coming up. the costs of homeowners. another assessment is coming. >> another rate hike is coming.

but now california insurance commissioner ricardo, lara is taking action, he says, will save the fair plan, specifically his action calls on insurance companies in the state to bail out the fair plan with 1 billion dollars. lot of says those insurance companies will take on have to cost while passing on the other half to their policyholders. in a statement, he wrote this, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. this is another band-aid on the insurance crisis that we're all in. i mean, that's all this is assembly insurance committee. vice chair republican david tang is skeptical of lot u.s. latest action keep us as he's concerned. the actually to insurance companies simply passing down higher costs to everyday californians. and it's not even a real because that band-aid is coming up. the cost of homeowners. another assessment is coming. >> another rate hike is comi

commissioner ricardo lara sent a letter to state farm today saying the insurance company has not provided enough evidence that it needs to charge more for coverage. earlier this month, state farm, the largest insurer in california, asked for an emergency increase, including a 22% hike for homeowners. but the commissioner says state farm needs to better explain why its finances are suffering despite other rate increases. he's calling the company to a meeting in oakland in two weeks to discuss it all. state farm says it's disappointed that the commissioner did not approve a rate increase, saying the la fires have further drained its resources. third party intervener in this case, consumer watchdog, will take part in the upcoming meeting. it supports the commissioner's decision, but wants the meeting with state farm to be a public hearing, not a private one. another big headline tonight. openai has rejected elon musk's bid to buy control of that company. sf based openai has been trying to convert into a for profit company to stay ahead in the artificial intelligence race. on monday, musk sai

hasta ahí llegan los clientes, como ricardo, quienes tratando de ayudar, disfrutan de los platillos.sus talentos para progresar y dejar de pensar en llegar del otro lado. en méxico, jazive pérez telemundo. una organización de nuestra región está ayudando a hacerle frente a la crisis climática. en breve le explicamos de qué manera. si reviso mi bolso que lo tenía en esta parte de aquí. 8.000 $ le robaron a una residente de san josé de su propio auto cuando acababa de salir de una agencia bancaria. esta es una historia que solo verá aquí por telemundo 48. en el tiempo. vaya sacando esos paraguas. patrón húmedo comienzast ea ♪♪ ♪♪ los sueños comienzan aquí. bienvenidos al goodnight club. hablemos de la crisis climática, que genera diversos problemas en varios sectores de nuestro planeta. pero también existen organizaciones que buscan solucionar esta situación. sí, precisamente césar. por esa razón, nuestro meteorólogo marcelo rivera visitó un centro de exploración muy cerca del área de la bahía. cómo te fue, marcelo? adelante. césar miryam estuve en el centro de exploración del santuari

in a letter to california insurance commissioner ricardo lara, the company said, quote, although reinsurance will assist us in paying what we owe to customers, the cost of these fires will further deplete capital from sfg. we are requesting that you take emergency action to help protect california's fragile insurance market by immediately approving interim rate increases on these filings with rates to be effective may 1, 2025. carl sussman, a broker and industry expert, explains the situation. >> the problem is that the industry in california has pretty much been upside down for a decade, and it's been slowly getting eroded because the prices have not been matching the exposure we've had. >> reporter: so now state farm is requesting an average rate hike of 22% for homeowners, 15% for renters and condo owners, and 58% for those owning rental properties, no matter where they are located. the company says it needs the money to refill its capital reserve and says its credit rating has taken such a hit that state farm insurance may no longer be accepted by some mortgage companies. >> and this rat

that's because everybody has just march down that way and we're ricardo. if you could just look down there. uh you can see the tail end of the marchers there. um but there were several 100 people here and they were all. busy holding signs denouncing trumps policies denouncing ilan mosques. role in the trump administration. calling for immigrants rights constitutional rights, human rights. a l, g b to t q and trans rights. uh and in general uh saying that the trump regime to them represents fascism and that it has to be stopped. now it's true that these. ready demonstrations are smaller than the massive ones that read it, the advent of the 1st trumpet administration. but i think you're correct that people were quite done at the outset of the, of the results of the election. so opponents and trump were somewhat quieter, but now it seems that many of them, at least in this, in this group, have found their voice, will continue to follow events with you and those demonstrations as the day progresses. thank you. bob reynolds, that 4th of los angeles. what is abo

american and addiction security firms are now petroleum. vanessa ricardo crossing the change would allow for the free movement of palestinians and a trucks from both directions. a not in use, never known as 5 minutes. and the last alarm has named a new government. 5 dining has voted off for the 1st time in decades. salanza is a new government may not satisfy all parties. he said the 24 member cabinet will prioritize reforms in security. the judiciary and finance is called for, as well as for withdrawal from lebanon as part of the ceasefire agreement. the now that we have announced the formation of the government, i find it important to emphasize the following points, which i placed at the top of my prior to reform is the only path to choose elevation. therefore, the government must ensure security and stability in lebanon by fully implementing resolution 1701, enforcing the ceasefire agreement on pursuing israel's withdrawal from every last inch of lebanese territories. this must go hand in hand with reconstruction. nothing. as i've said previously, it is not merely a promise, but a comm

in fact we have today at the gallery the honor ricardo, the president of the dominican senate. and alfredo, the president of the house. they will be with us for the next couple days. i want to extend the courtesies of the house so that all of you can attend this wonderful event that's being held for the seventh year in a row. i also rise, mr. speaker, in support of dreamers, farm workers, and families. much has been said about the immigration issues at the border. and i think what has not been said is the fact that we all want to make sure that the border is more secure. there is no disagreement in that. we can work together to make the border safer. safer for children, for families, for women, for grandparents, and for the communities, the border communities, that many of our members and colleagues represent. .. and we should work together to make sure that the border is safer. however, mr. speaker, there is a reality in the nation and that is that dreamers are young people that are teachers, nurses, they're part of our communities, they own their homes, many of them have thei

pasemos a hablar de estos incendios, porque el comisionado ricardo lara anunciÓ la Última actualizaciÓn fueron sometidas. hablemos de las estafas y el peligro que existe, por con la temporada de presentaciÓn de impuestos en pleno auge el departamento de rentas internas estÁ haciendo un llamado palÉ que las personas utilicen su sistema gratuito de presentaciÓn de impuestos y sepan conocer las seÑales de que alguien estÁ tratando de estafarlo. el irs dicen hay varias formas en que los estafadores intentan engaÑarlo a usted sobre los reembolsos, los crÉditos. y la oferta o el reembolso parece demasiado bueno. los estafadores querrÁn que pague ahora o de lo contrario no le permitirÁn cuestionar o apelar la cantidad de impuestos. mucho ojo, si tiene dudas consulte con su preparador de impuestos. el alcalde de la ciudad firma una ordenanza con lo que declarÓ estado de emergencia por la crisis del fentanilo. esta ordenanza busca acelerar el proceso para convertir un hogar comercial vacÍo en la zona del centro en uno de crisis de salud conductual. el centro serÁ atendido por profesionales mÉdic

and this is >> california insurance commissioner ricardo, lara said in a statement, quote, i took this necessary consumer protection action with one goal in mind. the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from recurring. still ahead here at 10 o'clock, the strongest storm in a year bearing down on southern california. >> the work being done tonight to help areas impacted by last month's wildfires. plus oakland, beefing up security for nba all-star weekend. a for nba all-star weekend. a safety plan ahead. i bought the team! kevin... ? i bought the team! i put it on my chase freedom unlimited card. and i'm gonna cashback on a few other things too... starting with the sound system! curry from deep. that's caaaaaaaaash. i prefer the old intro! this is much better! i don't think so! steph, one more thing... the team owner gets five minutes a game. alright, let's go then. ahaha! cash brothers! yeah! cashback like a pro with chase freedom unlimited. how do you cashback?

for this to move forward, the rate hike has to be approved by the state's insurance commissioner, ricardoponse to state farm's announcement, his office wrote, to protect millions of california consumers and the integrity of our residential property insurance market, the department will respond with urgency and transparency to recommend a course of action for commissioner lara. >> it's shameful for state farm to be trying to take advantage of this tragedy. >> now, state farm was already granted a 20% rate hike in march last year. four months later, the company requested another 30% hike last july, but it was never approved. so today's request for another 22% hike would amend that one. so if that does happen, that's two hikes in just about a year. wow. >> where's the ceiling. you know exactly. >> that's the question people are asking. you know will there be more. yeah. >> really tough for homeowners to keep up with. yeah appreciate it. >> all right. if you need help with your home insurance, reach out to staff seven on your side has a team of journalists working to help you by exposing thes

california insurance commissioner ricardo lara sent a notice to the state's major insurance companiescalling on them to provide full coverage without detailed inventory requirements for la wildfire victims, but that will only apply to homeowners, not renters. one woman moved from lafayette to pacific palisades just four months before the fire destroyed her apartment. she counts herself lucky, but says she does feel a bit guilty starting a gofundme because others have lost so much more. >> it didn't feel right, like because i'm so much luckier than so many other people who need it more than me. i did it because, as most everyone, i'm underinsured. >> unfortunately, this this consumer probably is not going to get any of these protections from the department of insurance when it comes to itemization, because that is based on homeowners insurance policies, and this is a renters policy. >> insurance expert carl sussman adds that renter policies are far different from homeowner policies. insurance companies can require renters to show proof of purchase for everything from electronics to a p

william: ricardo lara is california's insurance commissioner.ople off the fair plan, and bring private insurers back, lara's office pushed through a series of reforms, including allowing companies to consider future impacts of climate change when setting rates and letting insurers pass along the cost of insuring themselves what is known as reinsurance to homeowners. >> if we're going to ever get to affordable rates, we have to get to tackle the availability issue. insurers have to come back to california and expand in order to bring down the cost. and that is what the reforms do. william: lara says his job is to strike a delicate balance. >> you have to make sure you have a solvent and strong market and that you have the consumer protections to make sure that they can pay out those claims when people need it. my role right now for these fires is to make sure that they're paying off the claims that they owe to southern californians who are trying to rebuild, recover after these catastrophic fires. if they don't do that, i'm going to go after them

and this is >> well, california insurance commissioner ricardo, lara, said in a statement, quote, i tooks necessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent the situation from reoccurring. >> a new bill could expand the use of recycled water in california senate bill 31 was introduced with the goal having people use 1.8 million acre feet of recycled water annually by the year 2040. right now, california used about 700,000 acre feet per year. lawmakers are trying to drought proof our state by easing up on how businesses homes and government agencies used treated wastewater for irrigation and other things. meantime, saving drinking water for better uses like drinking. in san leandro. a hate crime investigation is underway after a new homeowner found this scrawled on their fence racist graffiti. the home is still under construction. the owner says that some neighbors are against her decision to paint over it. this isn't that straigh

and this is >> california insurance commissioner ricardo lara said in a statement, quote, i took thisecessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent the situation from reoccurring. in other news this morning, president donald trump has announced plans to increase u.s. tariffs to match the tax rates charged by other countries on imports. it's a move he's calling reciprocal tariffs while the specifics of the plan are still unclear. the potential tariff hike could impact the global economy, raising inflation and potentially slowing economic growth. that's the worry. the president has already implemented tariffs on china, canada and mexico and further measures on steel, aluminum and tech products. critics are warning that moves like this could spark trade wars and ultimately hurt u.s. consumers with the white house says this is simply creating fairtrade conditions. meanwhile, california attorney general rob bonta has expressed c

. >> well, california's insurance commissioner, ricardo, lara, issued the statement you see on your screenreads in part, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from meeting. >> to expand the use of recycled water in california. the bill was introduced with the goal of having people use 1.8 million acre feet, right now, california, just 0 h- about 700,000 acre feet per year. lawmakers are trying to drought proof our state by easing up on how businesses homes and government agencies use treated wastewater for irrigation and other things while saving drinking water. >> in other headlines this morning, president trump has announced plans to increase u.s. tariffs to match the tax rates charged by other countries on imports. a move he's calling reciprocal tariffs. now, while the specifics of the policy are still unclear, the potential tariff hike could impact the global economy, raising infla

. >> california insurance commissioner ricardo, lara said in a statement, cole, i took this necessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing, all the fear plant and prevent the situation from reoccurring. still ahead, the kron morning news. local leaders are working on new ordinances, prevent other fire departments from closing. it comes after some fire stations already shut down. >> due to the lack of funds. and those heavy rains. high winds hitting the bay where keeping a close eye out on flooding on the roadways flooding on the roadways during your mor what happens... when an unstoppable force... meets an immovable raccoon? attack! bark! attack! it's not easy taking out the trash. that's why you need... strength that's anything but ordinary. hefty hefty hefty. >> well, in the north bay and a bottle man was sentenced to 75 years to life in prison on child assault charges. brett ortiz, a registered offender, was arrested in june 2022. after an investig

but in a letter released today, commissioner ricardo lara said that the insurer has not met the justifications for relief under state law. he says state farm will have to answer questions about its financial condition in an in-person meeting on february 26th. lara said, quote, all californians know from the past ten years that the risks of wildfire are real and growing. we have experienced firsthand the ravages of climate changing climate. our decisions must be guided by transparent data and an honest reckoning with the challenges we all face together. state farm responded, saying it is, quote, very disappointed in the decision, adding, we have gone to great lengths to clearly answer the questions outlined by the commissioner. while we're positioned to handle all of the claims associated with the most recent wildfires. state farm general must seriously consider its options within the california insurance market going forward. >> after the break. a warning along the coast the message for beachgoers as we head into this holiday weekend. >> and barry, whether the rain clouds have moved out of tow

department will respond with urgency and transparency to recommend a course of action for commissioner ricardo lara. the department will investigate these rate applications thoroughly to ensure californians are charged the appropriate justified rate. meanwhile, homeowners such as irene smith are stuck between a rock and a hard place. on one hand, pay higher rates or drop state farm and move to another insurer, which would likely charge higher rates. smith sees a looming disaster not just for homeowners, but for all residents. >> i'm also worried about how it's going to raise the cost of housing for everyone in california, in san jose. >> smith worries the impacts of higher premiums will drive up housing costs at a time when cities such as san jose are trying to build more housing to meet the needs of the unhoused populations. department of insurance has not given a timeline for when they will make a decision about the two emergency rate hikes sought by state farm. we're live in downtown san jose this evening. jesse gary, ktvu, fox two news. gary, back to you in oakland. >> all right, jesse, th

for this to move forward, the rate hike has to be approved by the state's insurance commissioner, ricardostate farm's announcement, his office wrote, to protect millions of california consumers and the integrity of our residential property insurance market, the department will respond with urgency and transparency to recommend a course of action for commissioner lara. >> it's shameful for state farm to be trying to take advantage of this tragedy. >> now, state farm was already granted a 20% rate increase in march of last year. four months later, the company requested another 30% hike last july, but that one was never approved. so today's rate hike request would amend that one and if approved, it would go into effect may 1st. >> okay, stephanie sierra live for us in the studio this evening. stephanie, thank you so much for your reporting on this ongoing issue. and if you need help with your home insurance, reach out to steph. seven on your side has a team of journalists working to help you by exposing these issues, all you have to do is head to abc7 news.com/7 on your side. >> new developm

but now california insurance commissioner ricardo, lara is taking action, he says, will save the fairon calls on insurance companies in the state to bail out the fair plan with 1 billion dollars. lot of says those insurance companies will take on have to cost while passing on the other half to their policyholders. in a statement, he wrote this, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. this is another band-aid on the insurance crisis that we're all in. i mean, that's all this is assembly insurance committee. vice chair republican david tang is skeptical of lot u.s. latest action tongue. epa says he's concerned the actually to insurance companies simply passing down higher costs to everyday californians. and it's not even a real because that band-aid is coming at the cost of homeowners. another assessment is coming. >> another rate hike is coming. californians are rea

and this is >> california insurance commissioner ricardo, lara said in a statement, quote, i took thissary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. he goes on to say we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring end, quote. happening today, a u.s. district judge will hold a hearing on whether to stop the trump administration from shuttering u.s. aid operations affidavits from some u.s. aid workers claim the fees cuts are happening without required justification or documentation. they're just being withdrawn. cold turkey, a temporary restraining order halting the administration for putting more than 2000 workers on leave is in effect at this point. >> time now is 10, 20 and president trump has announced plans to increase u.s. tariffs to match the tax rates by other countries on to move. he calls reciprocal tariffs. the specifics of the policy remain unclear. but the potential tariff hike could impact the global economy, raising inflation and

. >> yeah, california insurance commissioner ricardo, lara said in the statement you see on your screen, i took this necessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. >> happening today, a u.s. district judge holds a hearing on whether to stop the trump administration from shattering u.s. aid operations affidavits from some u.s. aid workers claim that the cuts happen without require justification or documentation. a temporary restraining order halting the administration from putting more than 2000 workers on leave is in effect right now. while they decide. and developing news this morning out of the middle east, hamas says that it will release more hostages on saturday as planned previously. they said that they would no longer abide by the cease-fire terms with israel. but the hostage release is going on. no immediate comment so far from israel. on today's announcement, hamas had accuse israel o

. >> state commissioner of insurance, ricardo, lara said in a statement, quote, i took this necessarysumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from recurring. a new bill could expand the use of recycled water in our state senate bill. 31 was introduced with the goal of having people using 1.8 million acre feet of recycled water annually by the year 2040. right now, california about 700,000 acre feet per year. this comes as lawmakers try to drought proof the state by easing up on how businesses homes and government agencies use treated waste, water. and today confirmations continue for president donald trump's cabinet nominees. despite some controversy, the president will likely end up with the exact cabinet he wanted. washington correspondent trevor shirley has the latest. and today's vote will likely bring the president closer to filling out his cabinet less than one month into his term. >> president donald trump b

ricardo's comparative advantage. >> at play.nd, you. >> know, with. >> america tending to like cheap prices and being. >> one of the. >> largest consumers in the world, we. >> tend to. >> not protect our markets. >> like. >> others have. >> cole, tell me a little bit more about what you mean by what trump wants to get out of europe. what would it take to get trump to the negotiating table from a european perspective? and what leverage. >> does. >> europe have? >> yeah. >> i mean, in. >> some respects, you know, one of the. >> primary leverage points that the world. has relative to the united states is. >> that they haven't. >> been borrowing money like drunken sailors on leave. >> like we have for two years. okay. >> coming out of. >> the. >> pandemic, many global. >> governments borrowed. >> money to get through the near term impact of what went on in the economy. tied to the pandemic. two years in, many governments. quit in our country, we continue to go on. >> 7 to 8%. >> debt binges as a percentage of gdp, and we've continue

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the insurance commissioner of california, ricardo lara, has just ordered a $1 billion bailout of thes by policyholders all over the state. this will appear in the form of a basically a tax to cover the insurance company's debts from these wildfire losses in los angeles in january. so people all over the state, even people say in oakland, who are at low risk of fire, are going to have to pay to reimburse the insurance companies for the claims of high risk properties, say, along the coast of malibu, those 2 to $4 million homes. so we are actually in a crisis now. that's largely been caused by the behavior of the insurance industry. and they've done this because they weren't prepared for climate change, and they've also done it because they don't they want to be freed of regulations that the voters put in place 36 years ago to protect against price gouging. >> all right. let's talk about what is in our control. many homeowners say, look, i can't control all that, right? i'll deal with that another day. is there something that people can do right now to make sure that they have the cover

>> it the tariffs i'm a my economics major taught us that david ricardo and comparative value if someone can make something better and less expensive than you, go do something else and let that other country produce it. so that's that's just my natural philosophy from the way i was educated. and so i believe that it will be inflationary. i believe that when ups cuts their amazon deliveries in half, because the usps is going to charge $5.35 for the last mile versus $3.10, that's inflationary. that's a 60% increase in price. when the dockworkers get 8.5% per year, compounded for six years when the machinists at boeing get 8.5%. and then you throw and then you throw tariffs in on top of it. it can't help but be inflationary. but the only way you can stop this inflation would be to retract the $12 trillion of federal government monetized debt. and it's almost impossible to do that at this stage. >> well we'll see. i know they're trying to chip away here and there, maybe revalue the gold holdings. bill, thanks very much. appreciate your time today. bill smead with smead capital management. we

state commissioner ricardo lara says the assessment is necessary to continue paying out claims to fireurvivors, and the wall street journal reports white house officials are discussing plans to consolidate federal banking regulation without congressional consent. now, according to the report, trump advisers and allies are looking at ways to collapse the fdic into the treasury department and combine the agency's role with the office of the comptroller of the currency. now, the reported move follows the dismantling of the consumer financial protection bureau. last weekend. the journal adds staff inside the fdic and occ expect to hear from d.o.j. in the coming days. >> frank. >> all right, savannah, thank you very much. see you a bit later on the show. all right. we'll turn our attention now to washington. and an unusual scene in the oval office. >> late yesterday. >> tesla ceo and department of government efficiency head elon musk. he joined president trump for an executive order signing, further empowering doj's oversight within federal government agencies. nbc's alice barr has much mor

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california insurance commissioner ricardo lara has sent a notice to the state's major insurance companiesng on them to provide full coverage without detailed inventory requirements for la wildfire. wildfire wildfire victims. but that only applies to homeowners, not renters. one woman moved from lafayette to pacific palisades just four months before the fire destroyed her apartment. she counts herself lucky and feels guilty starting a gofundme because others lost so much more. >> i didn't feel right. like, because i'm so much luckier than so many other people who need it more than me. i did it because, as most everyone, i'm underinsured, unfortunately. >> this this consumer probably is not going to get any of these protections from the department of insurance when it comes to itemization, because that is based on homeowners insurance policies and this is a renters policy. >> the insurance expert adds renters policies are far different than homeowner policies. insurance companies can require renters to show proof of purchase for everything from electronics to a pair of socks. >> up next flu

you know, there's a whole bunch of economic theory about, you know, you know, ricardo, and comparativehat essentially we shouldn't be making things that others can make more cheaply. we should be focusing on making the things that we make best quality at better cost. but the president wants to bring back certain types of manufacturing industries that we don't have a comparative advantage. but that is where he is. he's in. it's almost as if his views on this got locked in 30 or 40 years ago, during the problems with japan and so forth, and he just feels this way. so i actually feel sorry for his economic advisers because you can't waltz into the oval office and persuade the president out of this. this is an article of faith for him. >> and he also sees. >> him as leverage 25%. >> new tariffs. >> on steel. >> and aluminum imports coming into the united states. defense secretary pete hegseth. >> has renamed. >> the army base fort liberty back to fort bragg. but this. >> time. >> bragg is not a reference to the confederate general. the previous name was changed to remember to fort liberty

state commissioner ricardo lara lara saying that the assessment is necessary to continue paying out claimss. >> take a look at the. >> futures one more time this morning. dow futures off by about 45 points. s&p futures down by three and a half. the nasdaq indicated up by about ten points. i want to get over to frank holland. he's been taking a look at this morning's pre. market movers. and what are you finding frank. >> hey good morning becky. we're going to start off with an earnings move. we're taking a look at shares of lyft right now. you can see they're moving lower down double digits more than 12% after fourth quarter results where they reported a miss on revenue. but ebitda did beat estimates. one factor on the results. the company said it reduced surge pricing during the quarter, the rideshare company also giving gross bookings outlook for the current quarter that was below estimates. lyft making a number of other announcements, including a planned increase in app ads to boost revenue. also, a share buyback plan of up to $500 million. again, shares down more than 12%. also, lyft ce