great piece by robert frank, also has me thinking is that going to aploply to crypto too?f you're holding it -- the whole tax implications, carl, potentially fraught. >> indeed. as we said late last week, guys, we're going to work our way and have to chip away through a boatload of data throughout the week as we get through ism and auto sales and income and spending leading up to the jobs number on friday we're going to see where that and cpi in a couple of days. after that leaves the fed. lets get to "the half. >>> carl, thanks so much welcome to "the halftime report." i'm scott wapner fro front and center, stocks continue to hang in there pretty well is that reason to be more bullish? we ask the investment committee. we have jenny hairington, steve weiss, joe terranova and jon najarian let's check stocks which are going for a third straight week of gains we do come on the air at noon in the east at the lows of the day. the dow is down a little more than 300 s&p 500 off by one-half of 1%. yields, watching those closely, 2.45, the yield on

robert frank has the look at the property what are we looking at i have to imagine it is spectacular, is aspen, brian. everything there is pretty spectacular. roman abramovich is, of course, the highest profile oligarch in the west and biggest name on the sanctions list eu and uk and australia and canada frozen his assets and barred him from traveling to their countries. the white house may add him to the list in the coming weeks if he is sanctioned here, the first asset the governments could freeze would be his real estate in colorado he own ts two homes there. one is a 14,000 square foot glass fortress in snow mass outside of aspen he bought that in 2008 for $36.5 million. he expanded the property underground. brookers say it would sell for $50 million today. the other property is a ski villa down the road that he bought for $12 million also in 2008 county records show the properties were purchased and remain in abramovich's name. they are believed to be the only properties that are held by a sanctioned oligarch which hasn't been transferred for not purchased by an anonymous shell c

turning to cryptocurrency and institutions that aid the russians robert frank has the latest with who. >> reporter: good morning, dom the justice department warning they could become targets in the oligarch crackdown klepto capture failing to maintain adequate policies will be under investigation trading with the ruble doubled in the early are day days of th ukraine invasion fre freezing hedge fund investments from roman abramovich. he has invested through concord management that could include mill street and imperial some funds like brave and howard will return concord's investment abramovich had been trying to unload his hedges in recent weeks. he has large holding of u.s. stocks unclear what vehicles he may have used. concord did not respond to requests for comment, dom. it is interesting to see the oligarchs which are well diffdiv diver diversified. >> so, robert, as we talk about the way the sanctions are working and the notion they could be using crypto. how invested are these oligarchs in the crypto snmarket it doesn't seem anybody of that stature and wealth would put that much

includes more than a dozen tax hikes on high earners and a very big change for investors let's get to robert frankthere's been a lot of talk about the billionaires tax, but households earning more than $450,000 a year also get a tax hike in this budget. now, the top rate goes from 37% to 39.6% more importantly, the income threshold for the top bracket drops from $650,000 per household to $450,000 per households $400,000 for single fliers now, those earning between $400,000 and $500,000 actually get a double hike from 35% to 39.6%. up two brackets. as you mentioned, the capital gains rate is the most important for investors. that would be go from 23.8% to 40.8%. that applies only to those who make more than $1 million in combined income and realized capital gains. that, though, would be the largest one-time jump ever for the capital gains tax rate now, a lot of changes around the gift and estate tax. the step up in base is controversial. that'd go away there are tighter rules around generation skipping trusts and grantor trusts those have become hugely popular along the wealthy. it'd get rid of lik

cnbc's robert frank now. yacht that got nabbed. >> no, it wasn't last night, french authorities swooping in on another yacht over in the med. french authorities seizing a 280-foot yacht named true love from a ship yard near marseille. it's owned by egor sechen, on the eu sanctions list. the boat was nundergoing repairs and making plans to sail immediately. ibromavich is selling the chelsea football club. it will go to a foundation benefitting the victims of the war in ukraine, unclear if that also includes russians abramovich is looking to sell his mansion. that's next to kensington palace he bought the mansion for more than $100 million back in 2009 the white house list spares the richest russians, including abramovich, tying russian oligarchs directly to putin and directly to assets is proving very difficult because they're all masters of using shell companies and relatives to hide their true ownership former treasury secretary steven munnuchin today saying the whit house should hit them harder >> i would i

with a look at his mansion in aspen, here's cnbc's robert frank. >> roman abramovich burst onto the aspen steam with the aim to impress. in 2008 he paid $36.5 million for a 14,000 square foot glass fortress at the same year he bought a ski house down the road for 12 million. he threw a $7 million party. he gave generously to charity. now his two properties could be frozen sources telling me the white house is considering adding him to the u.s. sanctions list property records show both homes remain in abramovich's own name. that is unusual for oligarchs who hide their ownings because he's the legal owner, the feds could immediately seize them now to seize the properties and take title the government would have to prove he's committed a crime. meanwhile, it's unclear who would pay for all of the upkeep and more than $100,000 a year in property taxes and wealthy buyers already circling demand in aspen is so high with so little supply the average sale price for a single family home is over $13 million. >> wow robert frank thank you. >>> inside the room where bob saget died police releasing ne

robert frank has been digging through the numbers. e the start of the pandemic. this is according to s.e.c. filings. some terrific reporting. he sold over $150 million of his own stock through a prescheduled stock program. he sold most of those shares at prices over $300 a share that stock trading now at about 166 bucks a share -- 1612 now. he sold -- in addition to that he sold $170 million of stock through an llc called ocha that he controlled is his children's trust fund and a biotech company, he sold an additional $80 million. it's only 13% of his total holdings so he still has a lot more stock. that's according to open insider, moderna pointing out his stock selling program was launched way back in 2018. his first shares were in november of 2019 so all of that was before the pandemic, the company is saying the plan was amended last may to reflect his charitable giving. bancel still has around 25.1 million shares this is just going to add fuel to the already fiery debate how much profits both personal and corporate have been made f

robert frank has the story for us robert >> yes some big items, in fact, morgan.d villas over the weekend. including yachts owned and a $19 million compound the question now, as you say, what to do with all these really expensive assets sanctions only allow the assets to be frozen the owners remain the legal owners but they are prevented from using or transferring these assets until the sanctions are lifted the yachts are stuck at port homes prevented from being sold or transferred governments can only seize or actually take ownership if an oligarch is charged with a specific crime could be money laundering, corruption, or evading the sanctions. the asset has to be tied directly to the crime itself all of that takes years to prove and work its way through the courts if they're eventually sold, the proceeds go to law enforcement now, some russian billionaires are racing to sell before they get sanctioned or potential criminal charges abramovich trying to unload chelsea football club and the properties he has in the uk. there is a new bill in congress, the yachts fo

before authorities can con city skate them >> you're cnbc's robert frank. >> italian authorities freezing over 1350 millers of yachts and tackers. the $19 million compound in sardinia forbes reporting that the 96-person crew of uzmana's yacht have been fired from the crew's employer which says, close, normal for that. before they're sanctioned or seized sanctions billionaire trying to split his company into two parts. as for all of the yachts and jets, the question now, what to do with it all with an asset freeze, the owners remained the legal owners but they are prevented from owning or transferring the status they're still responsible for paying all of the house crews but the sanctions and all of the swift blocking may make it difficult for the governments to actually ensure payment. so the payments may end up paying some of these bills which were a super yacht because we're going to be six or seven figures a month. you can't take title or ownership of an accident unless they are charged with a specific crime. the yacht has to be tied to the crime itself they're experts in masking their

about his budget which is expected to include a new way to tax the wealthiest americans we have robert frank to explain and we'll have steve rosenthal if this can happen robert, let's start with you. >> it is called the billionaire minimum income tax and apply to people with $100 million or more in income and this is a minimum tax of 20% on any both realized and unrealized gains and taxpayers ten years to pay the first payment and then five years. zuckerberg, would have paid $25 billion as a one-time tax and going forward this year down 41 billion so he gets a credit of $8 billion 17 billion there and then the rules also apply to ill liquid assets and private companies and they would also be subject to the tax the white house says the plan would raise $360 billion over 10 years. about half that revenue from america's 720 billionaires so this is a tact that called a brake light their tax but $360 billion over 10 years with a handful of people. musk himself would pay $50 billion that first year. kelly? >> $50 billion i'm sure it's in the bank. no problem how feasible is the proposal joining us

robert frank with the details. robert, the debate is just beginning or is it continuing?in the great reporting on the share buyback. the white house with sending a message to those at the top. the tax is called the billionaire minimum income tax it applies to households with $100 million of net worth. that is the top 20 households. the first part is a minimum tax of 20% minimum tax rate they pay a tax rate of 12% currently. owe additional 8% on income. it redefines income to include unrealized capital gains they pay up to 20% on the increased of value of stock or business if they never sold. they would have several years to pay the tax. the stock goes up one year and down the next, they get a credit against the future payment let's take an example of mark zuckerberg that stock has been all over the place. worth $128 billion at the end of last year. 2021, he would owe 20% of that or $25 billion of that total as a one-time tax going forward, he only pays for the annual change based on the stock price. this year, he is down $41 billion. he gets a credit of $8 billion leaving

robert frank has the story robert >> good morning, morgan. so far, the u.s.r to add roman abramovich in the eu, uk, australia, and canada, his assets are frozen. the first stop for the feds would likely be aspen. abramovich owns two homes. one a 14,000 square foot modern glass mega-home on 200 acres in snowmass abramovich bought the property in 2008 for $36.5 million. brokers tell me it is now worth well over $50 million. he also owns a 5500 square foot ski chalet down the road that he bought for $12 million county records show both properties actually remain in abramovich's own name. now, this is highly unusual since most oligarchs own their real estate through anonymous shell companies or relatives now. because he is still the official owner, the feds would be likely to freeze these assets almost immediately. now, to seize them and actually take title, they'd have to prove abramovich committed a crime, which could take years meantime, it is unclear who is going to pay for the upkeep and the more than $100,000 a year in property taxes >> pretty incredible i

robert frank has a look at the entities the department of justice is focused on. they could be targets in this ever-expanding oligarch crackdown the new sanctions task force saying banks that fail to maintain money laundering policies in the cross hairs of this investigation european union going further banning the oligarchs and certain companies from trading cryptocurrency altogether. meanwhile, uk and u.s. also going after the financial investments of the oligarchs hire in the u.s., freezing the u.s. hedge fund assets made by roman abramovich investing billions through an unregistered foirm in new york called concord management including big names. abramovich was trying to sell the investments recent sources saying he has large holdings of u.s. stocks. unclear which institutions using to trade those and the oligarchs are on the run right now within the past hour private jet used by abramovich left israel headed to turkey they can run but they can't hide. >> a head wind for the assets they have ownership of the dow down by 80 joining the nasdaq and s&p in negativ

. >> robert frank, on it as always thank you for watching "power lunch. >> "closing bell" right now.year highs the most important hour of trading starts now i'm sara eisen here's where we stand in the market rising again, the s&p higher for the fifth time in the last six sessions and up a full percent the dow is off session highs but still up more than 200 points. the nasdaq is doing the best of the big three, up 2% right now technology and consumer discretionary in the lead. small caps also coming back up more than 1% we're higher for the month of march, and we are building on last week's big win streak here are my top

here's cnbc's robert frank. >> reporter: russian billionaires control about a third of the country's entire wealth and over $800 billion of that is stashed overseas, including here in the u.s. in real estate. they often buy property with anonymous shell companies and transfer them to relatives, so it's hard to know exactly what they own billionaire oleg deripaska owned this $42 million home on the upper east side along with another downtown both were transferred to relatives years before the invasion of ukraine. roman abramovich is one of the world's richest russians he bought four town houses which are now being combined plus another property nearby for over $90 million. he transferred them to his ex-wife in 2018. alexey kuznetsov, who co-founded the largest private bank in russia, paid more than $57 million for two adjacent properties a block away. brokers say russians were big buyers at manhattan's tallest luxury tower at 432 park avenue as well as 157 west 57th street and the time warner center, all through anonymous llcs or relatives. and while some russians say the u.s. right n

robert, as always, thank you robert frank >>> that does it for "the exchange." "power lunch" begins right now >>> welcome, everybody, to "power lunch." i'm tyler mathis kelly will rejoin me in a second this is a busy hour. the ten-year, two-year yield curve, the difference inyields between those two bonds or bills, close to inverting. what that means for the market and your investments that's just one of the topics that we will ask our fed power player about. >>> philadelphia fed president patrick harker is with us exclusively. he warns that inflation is running far too high we'll talk to him about the pace of rate hikes and much more, kelly. >>> looking forward to it. thank you, tyler hi, everybody. let's get a quick look here. snapshot with the dow up 180 we were up more than 400 at the highs. talk of ukraine de-escalation lifting stocks today s&p up 36. the nasdaq up 1.5% or 213 points right now. as tyler mentioned, let's check in on the two-year, ten-year yield spread which by our data has gone flat and is still up about 1 basis point. it has inverted before

sanctions but the russian elite are finding new ways to get around all the restrictions here's cnbc's robert frank frank >> >> shep, russian billionaires moving their yachts, scrambling their jets and shifting their assets to prepare for a possible crackdown. the white house tweeting this week, a new task force will identify, hunt down and freeze the assets of sanctioned russian companies and oligarchs, their yachts, their mansions, and other ill-gotten gains there were no new names added to the list of those sanctioned but many are already feeling the pressure roman abramovich, worth $14 billion, and has mansions in aspen, london and st. baarts he's offered to broker peace he handed over control of the famed english football club chelsea fc to its trustees over the weekend amidst rising opposition michael freedman who has a london private equity firm, he called the war a quote tragedy, and asked for an end to the violence he was careful not to place any blame. meanwhile, vladimir putin calling a secret meeting on thursday for his top 30 oligarchs to prepare for sanctions and to ensure their loyal

. >> robert frank, on it as always thank you for watching "power lunch. >> "closing bell" right now. >> stocks are firmly in the green, and yields are at multi-year highs the most important hour of trading starts now i'm sara eisen here's where we stand in the market rising again, the s&p higher for the fifth time in the last six sessions and up a full percent the dow is off session highs but still up more than 200 points. the nasdaq is doing the best of the big three, up 2% right now technology and consumer discretionary in the lead. small caps also coming back up more than 1% we're higher for the month of march, and we are building on last week's big win streak here are my top takeaways on the biggest stories today. nike jumping you'll hear analysts talk about china, supply chain improvement, pricing power. all true, but one thing to pay attention to that nobody is talking about now, nike's new virtual strategy in the call, the ceo announced nike virtual studios to build web 3 products and experiences and to scale it. nike acquired a start-up artifact, launches its first nft. nike

i want to assign that story to robert frank just to get a cool spin on it >> it would be very wise to that's a little low of a rebound than we had at the start of the show. 200 now on the dow which is closing in correction territory yesterday. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people ach

they will be in its crosshairs as part of the hunt for oligarch assets robert frank joins us with moreng the ante making sure there's no way around the rules. >> exactly they could become targets in the increasing and widening oligarch crackdown. they say those who fail to maintain policies will be included crypto doubled right after the invasion of ukraine. then we have the u.s. going after the financial investments of the oligarchs, uk authorities freezing the hedge fund investments made by roman ibram vichlt he's the high-profile billionaire. he invested what could be billions of dollars through an unregistered investment firm based in tarrytown new york called concorde management his hedge funds include big names, mill street capital, impeer yum, millennium some funds like breschen howard say they will return concord's investment abramovich had been trying to sell his assets in recent weeks. he also has large holdings of u.s. stocks. unclear what vehicles he may have used. concorde did not respond to a request for comment. the russian-rich have over $8 billion stashed overseas i wo

robert frank joins us with another angle due to the president's tax plans.e tax. you've got the liquid wealthy or those whose wealthy is mainly held in tradeable assets so those like stocks. those with at least 80% of their wealth in a nontradeable asset like a private business or property now the liquid wealthy they'd have to pay annual tax up to 20% on unrealized gains. the value of their stock is marked to market by the end of each year. so even if they don't sell a stock they'd have to pay a tax every year, but owners of private companies can defer the tax until the business is sold so that's a huge difference. the white house saying this is all aimed at helping family companies manage the tax without being forced to sell and there is an interest charge that private owners have to pay when they do eventually sell for deferring that tax but tax advisers say over time this amounts to a substantial tax break for private company owners and could lead more companies to go private or at least fewer private companies to go public. that's not to mention the prob

robert frank taking a look at that today >> good morning, carl.o households worth $100 million or more but it applies differently to owners of public and private companies. now the liquid wealthy, or those whose wealth is mainly held in tradeable assets like stock, they would have to pay the tax every year of up to 20% on the unrealized gains so even if they never sold the stock, they would pay that tax every year on the increase in the stock wealth the value would be mark to market at the end of every year. now the illiquid wealthy or owners of private businesses or property, they do not have to pay every year they could defer the tax until the business or asset is sold. the white house saying this is all aimed at helping family businesses manage the tax without being forced to sell and there is an interest charge that owners would have to pay when they do sell but tax advisers say that over time this amounts to a substantial tax break for private company owners and could lead more companies to actually go private or maybe fewer private companies

targeting crypto exchanges and other payment services as it hunts for russian oligarchs' assets robert frankthey warned they could become targets in this oligarch crackdown. the new sanctions task force saying banks and crypto exchanges that failed to maintain adequate money laundering policies will be in the crosshairs of this investigation. so the u.s. is not yet freezing the accounts or even banning these guys from trading, but the eu has included crypto in its sanctions trading. that's because trading between ruble and crypto assets doubled right after the invasion of ukraine. the u.s. going after the financial u.s. investments of the oligarchs, uk authorities freezing the investments made by roman abramovich he is the billionaire who was sanctioned over the weekend. officials say he invested billions of dollars through an invested investment firm called con concord. the names he's invested in are big. some funds like brevin howard say they will return concord's investment he had been trying to sell his hedge funds investments in recent weeks abramovich also has large holdings of u.s. st

a new minimum tax plan that would largely target billionaires when he unveils his 2023 budget robert frankeing called the billionaire minimum tax but it applies to households worth $100 million or more. that's the top 20,000 households or top 0.1%. it would impose a minimum 20% tax rates on all income and unrealized capital gains that's the big change here that's a stock or business that has appreciated but has not been sold or realized taxpayers would have ten years to pay that first one-time payment for lifetime gains they would then be taxed on the annual change in value going forward. this creates a longer-term payment stream so the stock goes down, they can apply that credit to their future payments. now, let's take mark zuckerberg as an example of how this would work for 2021 he would owe $25 billion as what one-time tax. going forward, he would only pay for the annual change. this year he is down 41 billion, so he would get a tax credit of about $8 billion leaving him with a $17 billion balance with the irs. now, if he ever sold his stock, these tax payments would be credited toward

robert frank joins us with more. ert. >> good morning, joe the florida legislature passion a 30-day gas tax holiday for the month of october the holiday will save motorists an extra 26.5 cents a gallon at the pump with gas prices now nationally over $4.40 a gallon, over a dozen states now have similar proposals. maryland fast tracking a suspension georgia united over a suspension through june even new york and cal considering tax relief at the pump the highest state gas, california, pennsylvania, and washington the lowest taxes are in alaska, hawaii, and virginia the states have more cash than they can use some are calling for a suspension of the federal gas tax of 18.3 krenlts as gallon. the savings may not actually end up going to consumers and could leave big holes for infrastructure and road construction joe? >> we're getting whipsawed i thought we were going to raise the gas tax to fund a lot of the infrastructure stuff that was going to be a no-brainer that's not a good policy to keep flip-flopping. what do you

robert frank joins us now with more good morning, robert >> good morning, becky well, the white housealthy russians and their families and visa restrictions on another 18 russian oligarchs and 47 family members. most prominent person on the new list is alisher. his yacht and private plane, that's an airbus a340, the largest private plane in russia. those will be barred from entering the u.s meanwhile roman has not been sanctioned but he's putting his british soccer team up for sale for about $4 billion he said the sale proceeds will go to a foundation benefitting all victims of the war in ukraine. he's also selling his london properties including the mansion mere kensington palace he bought for over $100 million back in 2009 they seized the 280 foot yacht after learning it was, quote, making arrangements to sale urgently but the company managing the ship denied he was the direct owner. this yacht is registered in the cayman islands owned by a shell company. becky, that's going to be the issue here these guys had been planning for this for years almost everything they own is through a

now there are proposals that would require more americans to pay up robert frank joins us now with moreut, robert? >> well, joe, we're talking about new estimates from the tax policy center showing 57% of americans paid zero income tax in 2021. now, this is much more than the 43% rate pre-pandemic. and the main reasons government stimulus checks, higher tax credits especially the child tax credit and the standard deduction now of $25,000 and retirees moving to social security now as some of these programs phase-out the number of nonpayers expected to fall back to normal levels over the next year or two, but people say when you combine payroll taxes and federal taxes only 41% of americans actually paid zero in combined federal and payroll taxes. senator rick scott and others saying more americans need, quote, skin in the game. estimates if every taxpayer paid at least $100 in federal income tax, it would raise $100 billion a year in added revenue. more than 80% of that increase would be borne by those in the lower and bottom half making less than $54,000 a year meanwhile the share paid b

be in line to pay more taxes under a new plan from president biden but they're not the only one robert frank from 37 to 39.6%, and the income threshold for that top bracket actually drops from 539,000 to 400,000. capital gains rate goes from 23.8 to 40.8% for those with more than a million dollars in combined income and realized capital gains. a lot of changes around the gift and estate tax as well with tighter rules and limits on generation skipping trust and grantor trust. those have become hugely popular in the past decade it would gelt rid of lifetime exchanges for investment in real estate and properties over a half million dollars a lot of charitable giving coming under scrutiny. biden calls for donor advised funds giving more scrutiny and the loophole carried interest once again on the chopping block. we'll see. that benefit actually goes away anyway if capital gains is taxed as ordinary income, so a lot of this struggle in congress is once you change one policy is tends to affect another tax provision. so it gets very complicated when you go piece by piece. >> thank you for that. we'

you frank east robert sherman. >> and in a a sign that you really can tell how much the u.s. want to go to war with russia. the pentagon says it has now established a channel of direct communication with the russian ministry of defense. the goal here to avoid unintended conflict related to the war in ukraine. u.s. defense officials said the deconfliction line is they're calling it was established for the purpose of preventing miscalculations, preventing military accidents and preventing anything that would cause an escalation. and as our indicated, and ukrainian officials now report at more than a million people have left the country. >> and you're looking at video now. some of those refugees arriving in poland across the border soldiers were seen handing out a stuffed toys to the children in the crowd doing what they could to try and offer them some sense of comfort. >> it has been just about a week since russia invaded ukraine. the attacks, as we know are continuing. russians have targeted key cities and the northern eastern and southern parts of ukraine. >> steven pifer se

you frank east robert sherman. >> to get some analysis on the latest developments in ukraine. we want to turn now to robert b charles. he's a former naval intelligence officer and republican political figure and he worked as assistant secretary of state at the state department under secretary of state. colin powell. thank you for joining us tonight. of course, for days of mister putin has been rattling the sabers about his nuclear weapons. and now today he bombs a nuclear power plant. putting the world more on edge over this particular issue. what do you make of this action today? >> but it's more irresponsible act, obviously, to bomb a nuclear a power plant is about as irresponsible as it gets. it's not going to blow up and they've shut down the 6 reactors like obviously what it does is it shuts down a quarter of ukraine's power. as long as long as those rods and the and the reactors are are not the corps have to be exposed for you to get a meltdown. but it also puts the rest of europe in fear. they remember chernobyl. so it was obviously an act to kind of improve his negotia

frank east robert sherman. >> today, secretary of state antony blinken, antony blinken is in europe is going to be meeting with nato allies to talk further about what other actions they can take against russia. this comes after president biden announced more sanctions to try and deter russia from continuing to wage this war. those sanctions, the rew ones, they'll target more than a dozen russian billionaires that he accuses of directly or indirectly aiding in this war. but with russian president vladimir putin showing no signs of slowing down. ukrainian president tamir's lansky is urging leaders around the world now to step up their pressure campaign against putin and russia. the biden administration, by the way, also granting temporary protected status to ukrainians who are now in the u.s. the immigration status offers ukrainians a chance to remain legally and work in the u.s. for up to 18 months. international students, tourists, employees on work visas are all eligible as long as they arrived in the u.s. on or before march. 1st, according to department of homeland security, about 75

you frank east robert sherman. >> to the reporters. by the way. i it's bizarre to some of them in the middle of a war zone. just cancer is treated here in the air raid. sirens seeing it as it happens. yeah. risking their lives to bring us the very latest from the ground there and ukraine. what's going on is follow. we know we're continuing to track gas prices and they're soaring in california. they are in fact, many of us now paying well above $5 a gallon. >> that's especially true here in the bay area where kron four's will tran is in the east bay this morning with the latest pain at the pump will good morning. >> james duryea. you might want to go to the atm carrying cash these days will save you a lot of money. i know that's antiquated. but cash is king now because we will zoom in on the prices. look at this. if you have cash jiggling in your pockets, it's $4. and $0.79 for the rest of us who pay with credit card. this gas station, $4 and $0.99. that is a bargain. if you're anything below $5, consider it a win for you because most gas stations

yvonne de frank east ukraine, robert sherman. so the plants, geraghty. yeah. if i a >> what's going on as a result of that war here in california is you're noticing higher prices at the pump. that's the direct impact that we're feeling the invasion of ukraine. >> has sent crude oil prices soaring above $110 a barrel today with the average cost of gasoline. now in california reaching an all-time high. triple a says people are paying now on average for 83 for a gallon of regular gas. that's the cheap, great gas prices here in the bay area averaging much higher than that. san francisco for 98 oakland for 91 san jose. 49 in santa rosa for 99. that's for again for the low grade regular gas. expect prices to top $5 a barrel on average your $5 a gallon on average as we get deeper into the summer. we'll take a break at 8, 0, 9, still ahead on the kron, 4 morning news. a stranger attacks, a woman at the beach over the weekend. >> we'll hear from her. she tells us what happened. and you can now pay to ride a self driving car in san francisco will tell you how it works.

yvonne de frank east ukraine, robert sherman. >> and a little bit of fallout here considering, you know, it's gas prices in california. they are inching closer to $5 across the state here in the bay area. even you probably seen it. the invasion in russia impacting our gas prices at the pump. crude oil overseas. >> on the global markets now up more than $110, a barrel, at least a touch that earlier today. and that will trickle down to the gas that you pump at your local gas station. triple a say people paying now on average $4.83. a gallon across the state are reaching record levels once again, gas prices in the bay area as usual higher than the state average. you can see in san francisco on average you're paying for 98 oakland for 91. it's 4.89 in san jose and santa rosa topping it all with 4 99. this will probably look cheap in a few weeks. it looks cheap now because if you get the high call it 39 premiums 5. >> 5.39. it's tough. all right. we'll take a break. 9, 0, 8, still ahead on the kron, 4 morning news, a stranger attacked a woman at a beach over the weekend. >> we're going to ta

loan approval shares according to a report released in january of this year by economist robert fairy and frankausen. the fairly and fausen have been following p.p.p. and the pandemic's impact closely for the past two years cited the scroard increase in loan volume -- the extraordinary increase in loan volume, that targets hispanic-owned small businesses is an example of the success of the p.p.p. under the biden administration. these numbers are impressive. during phase 1 of p.p.p., it ranked 4,274 of p.p.p. lenders by volume. that was phase 1, where you really had to have an existing relationship if you were going to be able to get a p.p.p. loan. in phase 2, where we did a better job in targeting, they ranked 325th. in phase 3, they were among the top ranked p.p.p. lenders by volume. they wrote that the 14-day priority period in particular helped to bring the p.p.p. loans to disadvantaged small businesses. thank you to the biden administration and democrats in congress. the program hasn't always been good for small businesses. it has also supported small community banks. the federal reserve ba

a frank food, a have a lot international, a gateway to the best connection, self road and radio. located and out of you, robert, you are connected to the whole world to experience outstanding shopping and dining offers joy alice services. oh, be allah. guests at frankfurt airport city managed by fraud lou ah ah. this is dw news live from berlin, ukraine's president makes a passionate play for help to the united states. people are defending not only prayed. we are fighting for this badges of yours and the world in a video address to lawmakers, president lansky made the case for more sanctions and military support to fight russia. also coming up, joe biden. coles vladimir putin, a war criminal. so fall out. vain have more from our.

frank and claire are back with us. we talk a lot here about this fact that -- it is maybe an inconvenient truth if you're chief justice roberts the supreme court had to rule on bush v. gore the united states supreme court is 20% less popular than it was in the aftermath of that. it is held in high regard by 40% of the american people. and epic, epic collapse in terms of trust and credibility and the one guy, one justice didn't think that the bipartisan select committee should have access to trump's documents happens to be married to someone bannon-esque in the world view and the contacts with the highest levels of the trump white house. what say you? >> well, first, let's say what the law is. i want to read the law very clearly. the law says a supreme court -- any federal judge or magistrate including supreme court justices, must recuse themselves when quote impartiality might be reasonably questioned. hello? this is a woman who not only embraced the conspiracy, she was trying to shape it. she was trying to make it happen. she was an active participant at the highest levels of our government. justice roberts, he did a big spe