cnbc's robert frank is here to discuss the details and maybe this could spread further, robert. >> it two class action lawsuits and a potential probe from the justice department, all coming together and drawing fire at broker fees. the trial is now under way in kansas city for a class action lawsuit by thousands of home sellers against the national association of realtors and real estate agencies. the plan is they're seeking $40 billion and they say the association's fee structure is anticompetitive. two brokerage firms have already settled for a combined $139 million. a second class action suite is expected to head to trial next year. the justice department reportedly looking into the nar's fee policies which many blame for keeping broker fees artificially high, around 6%. americans spent $85 billion on broker fees in 2020. in other develops meanwhile, broker fees are usually 2% or less. the real estate board of new york just announcing it's going to prohibit the seller broker from paying the buyer agent fee, also requiring a lot more transparency into those fees. the national associ

we have more with robert frank on the story. good morning. >> good morning, frank.ged the irs contractor with leaking the tax returns ofer payers. charles littleton is charged with the disclosure of the tax information. court records say he stole the records between 2018 and 2020 while working on an irs contract. those returns were leaked to two news organizations not named in the filing. sources say they were pro ppubla and another which published an article on president trump at the time. ken griffin sued the irs after his taxes appeared in one of the articles. griffin saying in the statement that he continues to be frustrated by the irs failure to protect personal data. the irs said in the statement late friday that, quote, any disclosure is unacceptable and it is improving the data protections. frank, there was a lot of discussion in the capitol over the leak and finding the leaker sdpleaker. >> i want to ask you mentioned propublic and new york times. what are they saying? >> new york times did not state anything. propublica did not state anything and if he fel

our robert frank join us with more on this story. good morning. >> reporter: singapore authorities freezing assets worth more than $2 billion in a money laundering probe that's quickly expanding so far they've seized 152 properties, 26 cars, gold bars and jewelry, ten people have been charged so far with laundering proceeds from illegal gambling and other operations the suspects are all from china or have links to china. this scandal has exposed a wealth flow from china into singapore. much of it from china. hope to move money out of the reach of government crackdown. singapore depends on its reputation for a clean and well policed financial system, authorities there now working with the big banks to try and figure out where the gaps might have been, officials also looking at the potential role of family offices, the private investment arms of very wealthy families the number of family offices registered in singapore has more than tripled since the pandemic to over 1,000. family offices have minimal disclosure requirements and until

robert frank is joining us now. robert, good morning. what is the ruling? what does it center around? >> frank, the real estate board of new york announcing how buyer brokers will be paid. they prohibit the broker for the seller from paying the buyer's agent. the listing broker splits commission, 5% to 6%, with the buyer broker. with the new rule on january 1st u 1st, the buyer's agent will be paid by the seller. this comes with the backlash and class action lawsuit against the so-called split rule. thousands of home he sellers ha sued two agencies alleging anti-competitive practices. buyer brokers are paid by clients in other countries, typically 1.5%. it shows they are steered away from homes with lower commissions. trial is under way in kansas city. the nar is saying, quote, the market itself decides how real estate agents services are given and paid for, but, frank, the fear on the part of brokers is this could start to chip away at the sacred 5% to 6% commission they have long held. >> this is an eyebrow raising story. could this lower the fees you pay

robert frank joins us now. >> it stumbled at the open down 13% from the opening price.ond richest man is bullish. arnault owns a stake in birkenstock through lvmh. it is a partner in the private equity firm which acquired birkenstock two years ago. his family business was part of the buying group. they paid $4.88 billion at the time. after the close yesterday, andrew mentioned over $7 billion. they doubled this investment in two years. bernard arnault is doubling down. planning to buy $325 million of stock at the ipo price. arn arn arn arnault's son is on the board. when he acquired the company, he said birkenstock is one of the few iconic brands in the footwear industry. we appreciate brands with the long heritage. they go back to the 1700s. that is a long heritage. arnault is expected to expand in china. when wie see beyonce with birkenstock -- >> they look like they have been around since the 1700s. i didn't know it was true. >> still comfortable. with all of the great technology, between then and now, and still a classic. >> birkenstock was a f family-owned company

downed after the ceo warned about the future of the luxury consumer that piqued the interest of our robert frank cfo this morning adding to fears that the luxury consumer may be breaking down a bit he said, we are suffering and the entire economy is hitting the luxury industry. those shares down about 12% today. and lvmh earlier this month reporting sales growth of 9% it doesn't sound bad, but that was half the level of earlier quarter. down 24% from its highs. the company's cfo saying after three roaring years, growth is converging more in line with historical average and the owner of gucci and saint laurent saw north american sales down 21% and asia x japan was also down. st at its lowest level sinceherk down 12% analysts say the most discretionary items from aspirational brand are most at risk right now guys, the surest sign that the roaring 20s may be aiming for luxury, even champagne sales are down for the first time in three years. s sara >> does this mean at least that there'll some relief on pricing? with these luxury hand bags skmus, it was like there was no ceiling. >> you look t this

our own robert frank has the details. robert?story, as you mentioned the returns of thousands of the wealthiest taxpayers leaked to the media including elon musk, jeff bezos, michael bloomberg and they showed up in pro publica showing that billionaires paid no taxes and donald trump's were leaked. the hunt for the leaker became very high drama in washington, d.c., as well as very heated politics. republicans in the house ways and means were saying for years that this investigation or lack thereof was dragging on, therefore approving the irs shouldn't get more money. well, they found their suspect. they have found a man name charles littlejohn, he's a 38-year-old man who lives in washington, d.c. we don't know much about him. he worked for a private company that had a contract with the irs, so he wasn't an irs staffer. we don't know why he did what he did or how he got the returns and then leaked them, but he could face up to five years in prison, kelly. >> do we not know anything more about him or his political leanings? >> well,

back cracks showing in the high-end consumer and major luxury brands are delivering warnings and robert frankest. hey, robert. >> melissa, good to see you. porsche's cfo adding to those fears that the luxury consumer is breaking down and said, we are suffering in the entire economy. it is also hitting the luxury industry those shares of porsche down 12% this year. lvmh earlier reported growth of 9%, that was half the level of the earlier quarters lvmh stock down 24% from its highs and the cfo saying after three roaring years growth is kong verging more in line with the historical average you've got luxury giant kering, owner of gucci saw north american sales down 21%. china's recovery seems to be slowing a bit. the stock at its lowest level since march of 2020 and even hermes which beat on sales, always the strongest of these luxury players, that stock is down 12%, analysts say going forward, the most discretionary items from the most aspirational brands are the most at risk. mel, perhaps the surest sign that the roaring 20s may be ending, lvmh said champagne sales are down for the first time

lvnh, robert frank has the numbers. a little bit shy? >> a little bit.ere focused on china, instead it turns out the problems are in europe and the u.s. sales grew about 9%, well below the 11 plus percent expected. wines and spirits were the z loser down 14%. fashion and leather goods up 9%. but still off the 21% growth we saw in the second quarter and 20% average we saw in the first half. the company's cfo saying that lvmh is seeing a, quote, notable change in europe as consumers there pull back on luxury. the u.s. was also down about 1% overall. mainly that was due to weakness in ckoniak and watches and jewelly and they cited tiffany's as a source of weakness. china doing okay, saying no major change in the business we do with our chinese clientele. that was perhaps an upside for analysts. the problem is there was little or no guidance for next year. fourth quarter the most important for luxury cuompanies. saying they have marketing campaigns and big events planned. we'll see if that's reflected on margin. they report sales or revenues in the these qua

robert frank has details. >> the real estate board of new york changing the way new york brokers areoard will now prohibit the seller's broker from paying the buyer's agent fee. currently the seller's broke split that 6% commission wither the buyer broker. some say it's anticompetitive and inflates home prices. under the new rule, the sellers will pay the buyer's broker directly. the entire commission structure is now under fire. a class-action lawsuit by thousands of home sellers against the national association of realtors and two real estate agencies is now under way in kansas city. the plaintiffs say the fee structure is anticompetitive. two brokerage firms have settled for a combined $139 million. the justice department also reportedly looking into the nar's fees and policies, whether they violate antitrust. in other developed countries brokerage fees typically about 2% or less. the nar saying, quote, the market itself decides how real estate agent services are given. where prices where they are and technology sort of taking over this business, no surprise these fee structures a

let's get to robert frank for more on this story. >> this has been a fast moving story today.ng to claims by apollo ceo that the university has ref refused to condemn anti-semitism. rowan called on donors to stop giving money. he told donors to send a $1 check to the university rather than their usual donations just to send a message. >> we already have seen 150 million that would have come to the university move away from the university. we've seen more than 4,000 of our most engaged alumni basically say, the university's heading in the wrong direction. >> the vice chair now saying the university has, quote, publicly commit to unpress depacedented o combat anti-semitism on its campus and condemn the attacks at hamas. similar tensions are boiling over at harvard -- not condemning a letter from the harvard solidarity groups. he wrote, in nearly 50 years of harvard affiliation, i have never been as disillusioned and alienated as i am today. bill akerman is leading a campaign for companies to refuse to hire any student at harvard who signed that letter, including sweet green and

robert frank has more on that. >> good morning.uthorities freezing assets worth more than $2 billion in a money laundering probe that is quickly expanding. so far they've seized 150 properties in singapore, 62 cars, lots of gold bars, jewelry and thousands of bottles of wine. ten people have been charged with laundering proceeds from illegal gambling. the suspects are all from china or have links to china. this scandal has exposed a dark side to the massive wave of wealth that's been flowing out of china and into singapore. in total, more than $1.5 trillion has poured into singapore just last year. the chinese wealthy and private companies all moving money, trying to get it out of the reach of governments and crackdowns and potential tensions over taiwan. singapore depends on its reputation for that clean and well-policed financial system. authorities there now working with the big banks to try to figure out where the gaps might have been. officials also looking at the potential role of family offices. the private investment firms

robert frank is here with the key details of this story. >> tyler, this is a big one. than $2 billion worth of assets including $152,000 properties and thousands of bottles of expensive liquor, gold bars, jewelry, you name it, they found t.ten people have been charged with laundering proceeds from illegal gambling and other operations. all the suspects are from china. that has cast at spotlight on the massive wealth moving from china to singapore. in fact, at more than one point $5 trillion poured into singapore just last year, most of that from the chinese wealthy trying to protect their fortunes from the chinese government and tensions in taiwan. also in the spotlight are family offices. singapore officials are investigating whether any of the suspects may have used family offices to have laundered this money. singapore has become a huge global up for family offices thanks to its light regulation-ins taxes and they have tripled in singapore to over 1,000 today. singapore has been flooded with so much chinese wealth it's imposedseveral new taxes on high end real estat

robert frank has details on that. good morning, robert. >> good morning. that automaker is ferrari.ouncing it will accept bitcoin, ether, and others. they'll partner with bitpay to process those payments. it will start in the u.s. and expand to europe next year. ferrari saying there will be no feeings or surcharges if you pay with crypto. typically bitpay charges a 1% to 2% fee. so it's unclear if ferrari is paying that or if it's being waived by bitpay. crypto will be immediately transferred into u.s. dollars at the time of purr class, so neither the dealers nor ferrari will be taking any actual crypto risk here. as always, of course, buyers will have to pay a capital gains tax if they're a u.s. citizen on any increase of the value of the crypto they use for that purchase. so, why would ferrari do this? they say some of their younger buyers have built their fortunes in crypto. tesla briefly accepted crypto in 2021 before halting the program, citing energy use. lamborghini and other supercarmakers do not accept crypto. it's not like ferrari is hurting for business. cars are sold out

robert franks joins us more with more. >> singapore authorities freezing assets worth $2 billion in aobe that is quickly expanding. they've seized 152 properties, 62 cars, lots of old cars and jewelry. 10 people have been charted laundering proceeds from illegal gambling and other operations. the suspects are all from china or have links to china. the scandal has exposed a dark side to the massive wave of wealth flowing out of china into singapore. $1.5 trillion has poured into singapore last year. singapore depends on its reputation for a clean and well police financial system. authorities working with the big banks to figure out where the gaps may have been. officials looking at the potential role of family offices. those of the private offices of wealthy families. different offices registered in singapore has tripled during the pandemic to over 1000. family offices have minimum disclosure requirements and they paid no taxes on investments. singapore became a global hub for these family offices. the question now is do they crack down or were they involved in this money laundry. a hu

robert frank joins us with more. people are too much?>> the leak in the article has a lot of attention. federal prosecutors charging the irs contractor with leaking tax returns of thousands of wealthy tax taxpayers. charles littlejohn of washington, d.c. faces five years in prison after unauthorized disclosure of tax information. he stole returns between 2018 and 2020 while working on a contract. names were not released in the filings, but propublica field a st filed a story as well as the new york times. ken griffin, the ceo of citadel, sued the irs after his taxes appeared in one article. that suit is still active. griffin is saying, quote, he continues to be frustrated by the irs failure to protect personal data. the irs saying in a statement late friday any disclosure of taxpayer information is unacceptable and it is improving its technology and data protections with the new money from congress. >> does this change that suit? does it make it stronger for ken griffin? >> what ken said is the irs had been named for years as having inad

and they put together a club now they chose as their captain robert armstrong and his brother frank armstrong played. and what's interesting about this team is whereas the knoxville boys are mostly union men, mostly from the north, gentlemen who had come into the at the end of american civil war, i should go ahead and say not carpetbaggers that mythology of lost cause of carpet bagging northern yankees coming in exploiting the natural resources of the south here in knoxville were welcomed. you know they they looked on knoxville they had served here. if you read their letters, they talk about east being the most beautiful land they've ever seen and east tennessee women being the most beautiful on god's green earth. and they came here eager, invited to come here, marry those southern daughters daughters. they were welcome because they had the energy and vision of a new south, they wanted to build. and yes, that meant to tap into our natural resources and wanted to diversify the south's economy, not just be an agricultural base to help east tennessee, tennessee grow and progress. they don't fit

they chose as their captain, robert armstrong and his brother, frank armstrong played. what is interesting about this team is, where is the knoxvilles are mostly union men and mostly from the north, gentlemen who had come into the city at the end of the american civil war. i should go ahead and say, not carpetbaggers. that mythology of the lost cause of carpet bagging and northern yankees coming in and exploiting the natural resources of the south. here in knoxville, they were welcome. they looked fondly on knoxville. they had served here. if you read the letters, they talked about east tennessee being the most beautiful man they had ever seen and east tennessee women being the most beautiful women on god's green earth. and they came here, eager, invited to come here and married those southern daughters. they were welcome because they had the energy and the vision of a new self that they wanted to build. and yes, that meant to tap into unnatural resources and they wanted to diversify the south's economy and not just be an agricultural base to help east tennessee grow an

now, they chose, as our captain, robert armstrong and his brother frank armstrong. was interesting about this team is, whereas the knoxvilles are mostly union men from the north, gentleman who had come into the city at the end of the and civil war, i should go ahead and say, not carpetbaggers. that mythology of a lost cause of carpetbagging northern yankees coming in and exploiting the natural resources of the south, here knoxville they were wealthy. they look fondly on knoxville. they had served here. if you read their letters the talk about it being the most beautiful ended ever seen and east tennessee being the most beautiful women on god's green earth. they came here eager, invited to come here. married those southern daughters . they were welcome because they had energy and vision of a new south they wanted to build. and yes, that meant to tap into natural resources. and they wanted to diversify the south economy, not just be an agricultural base to help east tennessee and tennessee growing progress. they don't fit the carpetbagging mythology because one thing

robert violette, 76. and his wife , lucille violette. william frank brackett, 48.ith macneir, 64. >> remember them all. that is it for this hour. i am alicia menendez. i'm going to see you back here later tonight, six pm eastern, four "american voices". >> nobody could find her and her phone was off. >> yet to start working worst-case in areas. >> did she jump off the bridge? >> i was just shof

robert e violette, 76. his wife, 73. william frank brackett, 47 years of age. keith d mcnair, 64.ve a moment of silence, thank you. thank you for that, truly appreciated. we appreciate that for the family. they did give us those photos. i did not, however, have any of the family members pronounce any of those last names, so certainly no disrespect intended, in any way, screwed up the pronunciation. to move on i would also like to address the numbers of the victims that i confirmed earlier today with the number eight. and i will tell you, that is miscommunication on my part, i was wrong, in talking to our detectives, we had a list for people that had been identified and family members that had been notified, also a separate list that involved family advocacy and whether or not they had been plugged into that. so the reality here is all 18 of those victims, everybody that we listed here today, everybody has been identified and their families have been notified, so we were in contact with them. i would expect some more information later tonight and i will definitely talk about it tom

robert e. violette, 76 and his wife leucille, 73. william frank brackett, 48 years of age. keith d. mcnair, 64. just have a moment of silence, thank you. thank you for that. truly appreciate it and appreciate that for the family. they did give us those photos. i did not, however, have any of the family members pronounce any of those last names so certainly no disrespect intended if in any way i screwed up the pronunciation. so to move on, i would also like to address the numbers of the victims that we -- that i confirmed with the number 8 and i will tell you miscommunication on my part, i was wrong. in talking to our detectives, we had a list for people that had been identified and family members that had been notified. it's also a separate list that involved a family advocacy and whether they had been plugged into that. all 18 of those victims, everybody that we listed here today, everybody has been identified and their families have been notified. so we are in contact with them. i would expect some more information later tonight and i'll definitely talk about it tomorrow morning a

. >> both frank lutz and robert kraft blamed social media on this.t a person that thinks that the government should take these things over and break these things up. i think there's a social obligation that these companies have to get rid of hate. there's a crazy amount of anti-semitism pulsating around the internet right now. i think these companies have an obligation to try to tamp that down voluntarily, not through the coercion of government. so i think all of us, each of us in our roles in society, in what we say, in what we do in the companies we run, have an obligation to rtry to tamp this crap down. and it's really disgustingly ugly with what's going on with the anti-semitism we're seeing today, all the more reasons for leaders to step up and get past this moment and defend our allies and speak truth -- this is why i'm not a trump fan. we need leaders who are honest, ethical, moral people who can lead us. and we need to demand that of citizens of our leaders. and we have a supply problem and a demand problem in our politics today. i think we'v

robert, violet, 76 and his wife lucille by lat 73. william frank bracket. 48 years of age. keith, the mcnair, 64. just have a moment. think. thank you for that. truly, truly appreciate. and we do again, appreciate that to the family. they did give us those photos. i did not, have any of the family members pronounce any of those last name? so certainly no disrespect intended in any screwed up the pronunciation. so to move i would also like to address the numbers of the victims that that i confirmed earlier today with the number 8. and i will tell you, that's miscommunication. on my part. i was wrong. been talking to our detectives. we had a list for people that have been identified and family members that have been notified a separate list that involve a family advocacy and whether or not they have been plugged into that. so the reality here is that all 18 of those victims, everybody that we listed here today, everybody has been identified and their families have been notified. so we are in contact with them. i would expect some more information later tonight and definitely

to protect people in robert card's situation, and of course, to protect the general public. >> absolutely. >> 18 of whom unnecessarily lost their lives this week. george solis, frank figliuzzi, michael shepard, thank you all for being here tonight. when we come back, the latest on israel ramping up strikes and gaza as the idf says they expanding ground operations tonight. the 11th hour just getting underway, and a very important friday. friday i have moderate to severe crohn's disease. now, there's skyrizi. ♪ things are looking up, i've got symptom relief. ♪ ♪ control of my crohn's means everything to me. ♪ ♪ control is everything to me. ♪ feel significant symptom relief at 4 weeks with skyrizi, including less abdominal pain and fewer bowel movements. skyrizi is the first il-23 inhibitor that can deliver remission and visibly improve damage of the intestinal lining. and the majority of people experienced long-lasting remission at one year. serious allergic reactions and an increased risk of infections or a lower ability to fight them may occur. tell your doctor if you have an infection or symptoms, had a vaccine or plan to. liver problems may occur in crohn's dise

frank figliuzzi, i want to read an excerpt of what one of robert card's neighbors told nbc news. that's one person, one witness who our team has talked to. >> we can approach this on two different ends of the spectrum. first, very operationally right now in real time that may impact the way the police are approaching the family. even a search warrant for wherever he resides is fraught with challenges, tactically about not just waltzing in but rather bringing your bomb techs with you, perhaps even bomb sniffing dogs, perhaps using a robot, which is now becoming commonplace, to go in and look around. maybe you get cooperation from family. maybe you don't. maybe they don't know how he has rigged the residence up. that's on the real time scale. on the macro scale, this is where we are in society. heavily armed people living in a compound, perhaps they are anti-government or anti-society. you don't know where this comes from. now throw mental illness into the mix as has been reported. you have a perfect storm of an incredibly challenging task ahead, not only for law enforcement in thi

robert violette, 76. and his wife , lucille violette. william frank brackett, 48. keith macneir, 64. >> remember them all. that is it for this hour. i am alicia menendez. i'm going to see you back here later tonight, six pm eastern, four "american voices". >> nobody could find her and her phone was off. >> yet to start working worst-case in areas. >> did she jump off the bridge? >> i was just short of hysterical. >> an entire town banding together to find a beloved teen. >> this is a huge search. 100s of people came. >> a lot of people. >> we had the sheriff's department, got divers. >> this is things you see on tv, not things that happen to you. >> and then, someone said he spotted her. >> i looked at her right in the face just like i'm looking at you right now. that girl is alive. >> but a secret recording could catch one of the town's own, revealing a sinister scheme. >> sara's whole deal was -- >> he explained he studied her movements. >> the plan was to take her money. >> evil, pure evil. >> that is never going to be over. there was something >> there was some

frank smith, pressnam, south korea. that's it for this hour's bulletin, thank you for being with us, news and brief is after the break, take care for now. i'm robert in lakesh and i've come here to occupied palestine to investigate what the so-called deal of the century means for. the palestinian people and the future of palestine. this deal is not a deal for beast or base plan, it is a war plan. we are the oppress and they are the oppressors and they they want the oppressed to give more to the oppressor, they want. oppressed to be oppressed more, what would you do, you would just leave your houses for money, leave your land, leave your life, your memories, your history for money. ya allah, ya allah, ya allah, and coverage of this assination of... now entering its uh uh fourth day, we're looking at uh. news and brief on press tv israel's deadly on stolt against the garson strip that began almost two weeks ago has cleaned the lives of nearly 3,900 people. the regime is now targeting homes, medical facilities. police and ambulances, some 16 journalists have been killed in israel's attacks. damas leader says israel's crimes in the gaza strop reveal t

frank we begin with the aftermath of the shooting in maine. the town of lewiston is still locked down while the search for a suspected killer robert card continuesell nbc news he had been experiencing a mental health episode in the months preceding the shooting which killed at least 18 people. >>> president biden is facing a challenge from the member of his own party. democratic congress member dean phillips has entered the 2024 race for the white house phillips has been critical of the decision to run for re-election of president biden he feels like he has to run for president. >>> and josh allen and the buffalo bills bounced back after the tough loss on sunday to new england. the buccaneers were hosting on thursday he threw for a touchdown and the bills get the win over the bucs 24-18. frank, believe it or not, we're nearly halfway through the nfl regular season >> it is hard to believe nfl season is flying by. phillip, great to see you. happy friday >> happy friday. >>> straight ahead on "worldwide exchange," a tale of two advertisers. how amazon bucked the trend. we'll have the results just ahead. stay with us meet gold bond daily healing. a

robert card, he is described as a reservist with firearms training. following the latest on this person of interest. and sticking with us, former fbi director, frank.t's go to sam brock who is in the room where that press conference is about to begin. tell us more about what we might learn. >> since we last spoke 25 minutes ago, we are all waiting here for the police, and the governor of the state to address people. obviously, they want updates. governor mills put out about an hour ago that she would speak to the quote tragedy of last night and the ongoing search for the suspect. unless something is changed in the last hour, we are not expected to hear where he might be right now. as i look over the shoulder, this room is packed. there probably 50 to 70 people here waiting from information from various law enforcement agencies for the state is expected to take the lead in the governor will add remarks. number one, where is robert card? this has been going on for 15+ hours. and people who are hunkered down right now can't access schools today, or are perhaps to leave their home or are armed. they want to know what the relative risk is that the momen

the manhunt for the shooter, robert card, he's the suspect in the shooting, it's currently ongoing. you just heard franks possible that trail has run cold. law enforcement officials earlier were even searching a river in the town of lisbon. the police chief there called the search effort the biggest he's seen in his 23-yearlong career. three law enforcement officials tell nbc news as of now there are no hard leads as to where the suspect is. back with me in the studio former assistant director for counter intelligence at the fbi, frank figliuzzi. there are -- it's a tragic thing that there are other towns and communities to draw on their conduct and their public presentation of the facts and the search and the investigation because there are so many mass shootings in america, but that is the reality. you and i have been on the air together for several of them. how is this local law enforcement community acting? >> in many ways like a community that hasn't had to deal with this before. you raise an interesting fact, which is it's helpful to pick up and call a community that's dealt with something like th