the s.e.c. is an independent agency tasked with protecting investors, maintaining fair, orderly, and efficient markets and facilitating capital formation. the s.e.c. is responsible for ensuring transparency so that investors have adequate information to make investment decisions and to mitigate conflicts of interest, fraud, and manipulation. this regulatory paradigm is one reason why our capital markets have long been the envy of the world and the lifeblood of our economy. excesses and unnecessary regulation, however, may endanger america's status as the world's preferred financial center. first and foremost, i believe the s.e.c. should focus on its core mission. this has become more difficult as the commission has come under increased pressure to expand its mission and cater to special interests. examples of such efforts include attempts to force the s.e.c. to mandate disclosure on climate change and political contributions. these efforts are not new and the s.e.c. has withstood political pressu

the s.e.c. for what she said failing to require companies to disclose more information to investors about their political activities. that s.e.c. oversight hearing is next on c-span3. and then the head of the tsa takes questions about airport security screening delays. later, a look at new fda regulations for e cigarettes. >>> c-span's "washington journal" live every day with news and policy issues that impact you. coming up wednesday morning, homeland security committee ranking democrat congressman thompson of mississippi will discuss threats to the u.s. homeland in light of sunday's mass shooting in orlando, florida. and then congressman wittman on u.s. efforts to combat isis overseas and whether the military is prepared should the current tactics be changed. and california democratic representative jackie spear will discuss the latest on the mass shooting and what lawmakers learned from tuesday's closed door briefing with national security officials. be sure to watch c-span's "washington journ

the s.e.c. is responsible for ensuring transparency so investors have adequate information to make investment decisions and mitigate conflicts of interest, fraud and manipulation. this regulatory paradigm is one reason why our capital markets have long been the envy of the world and the lifeblood of our economy. excessive and unnecessary regulation however may endanger america's status as the world's preferred financial center. first and foremost, i believe the s.e.c. should focus on the core mission. this has become more difficult as the commission has come under increased pressure to expand the mission and cater to special interest. examples of such efforts include attempts to force the s.e.c. to mandate disclosure on climate change and political contributions. these efforts aren't new. it's my expectation that it will continue to do so in the future. chair white, as you pointed out in the 2013 speech, and i will quote you, we make our decisions based on an impartial assessment of the law and t

the s.e.c.'ó ensure that shareholders are provided the information they need and that all play by ther rules." so, putting aside the question of any particular dispute.çói] >> well, we have to we have to have all three commissioners to do a rulemaking. >> so any one of them can walkway from the table and you're stumped, right? because that's pretty good power. >> it could, but i think we're all focused, the three of us, on getting the work done, too. >> that's good. what about your staff? how are you staffed up? do you have adequate staff? >> i think the s.e.c. is significantly underresourced agency for our responsibilities, but we are, yeah -- >> would that change if you became a self-funded agency? >> it would. >> could you give me sort of -- i mean, have you run any -- are you 20% down, 30% down on staffing measures? >> i mean, i've certainly talked mainly, i suppose the context of our ability to cover on the examination side, investment advisers, which are obviously enormously important to in

the s.e.c. to rule today whether to grant iex's request to operate as a national stock exchange. let's bring in bob pisani who was part of that discussion a couple years ago. hi, bob. give me some history here. what has iex been doing? how have they been operating absent this kind of designation from the s.e.c.? >> they're a little less than 2% of the overall trading. they're an alternative trading system and they're seeking to become an exchange. there's been some question about how much a stock exchange would be allowed to slow down trading. iex will institute a 350 microsecond speed bump. their argument has been very simple. the exchange is separated by wide distances and sometimes traders can take advantage of the distances between the exchanges and their databases by essentially taking vac of the time -- advantage of the time delays. they have a speed bump. a number of the exchanges have been pushing back saying wait a minute, the rules, the s.e.c. rules, specifically say you can't institute

this is not a democracy and you have a company hanging out there and growing in a large way that the s.e.cis trying the figure out what is going on, and for any of us to try to pretend what is going on in china and their economy which has many thumbs on the scale, and the ton of corruption, and then trying to understand what is going on in the high growth internet company, very hard to have any kind of transparency or insight into the company, because it is kind of a black box, china, and so i would be very careful owning the stocks like these, and that being said, they have a tremendous business, and you know, they are moving towards operating like an american company which a lot more transparency, and the s.e.c. is going to force them, so it is an interesting test case, i think. >> and jason, there is obviously, a cultural barrier, an lan and a language barrier and currency barrier for new york and other u.s. investors burk with that guidance of 48% revenue growth year over year in 2017, and more transparency about the company, and that enough to make you feel confident or at least comfo

the s.e.c. >> i submit that a lot of small business feel like they're being left behind and their capitalization is restricted in ways that they don't understand and it is so critically important that they feel like they're part of the economic fabric as well and so i think creating an advocacy, so there is somebody there, and not just kind of the goodwill of the chair, and the goodwill of the rest of the commission to basically be that voice that is heard on small business concerns. so -- >> i certainly understand the priority on it, if i could say it that way. that's why we have the office we have, but i understand the priority, that you're putting out on this way as well. >> and i don't know if you had a chance to answer questions about the department of labor fiduciary rule yet. >> here and there, yes. >> i bet you have. i'll just kind of read the testimony there rather than reiterate what has been said. the s.e.c. is credited -- has been credited for developing and adopting a march 2012 cur

in a proxy filing with the s.e.c., facebook said it will ask share holders to vote on a proposal that would convert the founders class b shares into class a shares if he's no longer in a leadership position. the social network's board says it wants to make sure a future ceo's management powers are limited. the stock in the premarket is unchanged, but given he has so much control over the company, any leadership decision would fall to him. >> exactly. it is like, yeah, you can have a choice when i've decided i no longer want to have a choice. it doesn't help them if it ousts him when he wants to be leader. >>> in other tech news, the new york post reports twitter met with yahoo! management several weeks ago to discuss a possible merger. the paper says ceo jack dorsey didn't attend and his company appeared more interested in getting information out of yahoo! than it was in doing a deal. second round bids are due early next week. verizon is still believed to be the front-runner. >>> with twitter with a market cap of $10 billion, that would be a pretty sizable deal, bet the ranch type of

according to the s.e.c., he appealed athlete's christian faith. >>> the era of atomic energy in california is coming to an end. they will close the diablo nuclear power plabt along the central california coast by the year 2025. the utility reached an agreement with environmental groups to shut down the plant which became a target of controversy in the anti-nuclear power movement. located north of santa maria, it generates 9% of the state's energy. pg and e plans to use solar and green energy to replace it. >>> tesla is acquiring energy company solar city in a stock deal worth $2.8 billion. tesla's elon musk is the chairman of both companies. the move by musk is seen as a way to consolidate his holdings and combine his green energy products. shares of solar city surged 24% in after-hours trading on this news. tesla shares are down nearly 7%. >>> the rise of prescription drug prices is rampant, right? >> really is. >> what can you do? >> 7 on your side michael finney is here with tips and advice. >> these complaints are flooding into my office. 32 million people have gotten rate hikes accord

basically what's happening is the s.e.c. staff is recommending full approval of the iex exchange application. the full commission will vote on recommendation on friday. the only issue that they have to work out apparently is the speed bump which is designed to slow down the fastest frayeders and that's been a bone of contention with some of the other exchanges like ice. iex was started by brads katsuyama featured in the book "flash boys." there are other exchanges that are pushing back on that, but right now the s.e.c. commissioners will vote on recommendation this friday. back to you, melissa. >> all right. thank you very much, sue herera. take a look at amgen shares and outperforming the broader ivb index and down more than 6% for the year. let's get right to meg turrell who has more. meg, take it away. >> melissa, thank you so much, bob broadway, the ceo of amgen, thanks for joining us. >> nice to be here. >> i want to ask you what's been driving biotech more broadly this year. a lot of fears around the election, talks abo

the s.e.c. ying the software executive and three friends have been charged with insider trading >> busy week for insider trading allegations with the s.e.c. and the u.s. attorney's office in new york. >> over a car wash that was running out of money. >> be careful. >> and they put it in e-mails. >> there you go. so they were asking for it. not too careful. >> yeah. they're saying another detail, they say a brokerage firm wouldn't accept cash from some of the players in this story. they said an electronic transfer would take days to occur, so the millers obtained a cashiers check and drove a half hour to the nearest branch office to deposit the money to trade. in retrospect, none of that good decisionmaking. >> red flags all over that one. >>> chaos in venezuela. people desperate, looting to get basic goods. the latest next. "power lunch" is back in two minutes. >>> job cuts are on the way. according to an internal document, the firm will lay off 3% of the work force, this continues as pimco conti

signed the securities act for the s.e.c. spawned by the stock market in 1929.he fed was the first group to pass this act, a landmark act in 1933. "worldwide exchange" is come back. don't go anywhere. you can fly across welcome town in minutes16, or across the globe in under an hour. whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. and if you thought that was amazing, you just wait. ♪ >>> welcome back to "worldwide exchange." the u.s. futures are called to slightly higher, the s&p by .40. the dow jones is up by 15 points and the nasdaq is up 4 point. banks down sharply on friday over 2% making financials the only sector this year so far to date, which is still in negative territory. oil prices are at 49.2 for wti eradicating the losses it was down on friday for half a percent. that was the first negative week in four weeks. yes, oil was down last week, but it's been around the important $50 mark for quit

get your first two meals free at blueapron.com/cook . >>> the s.e.c. ng up its crackdown on insider trading. in 2016 alone nine new cases are pending including the scandal involving golfer phil mickelson, gambler billy walters and tom davis. davis has pled guilty to leaking inside information. our next guest says like many previous cases davis should have known better but was too proud to admit that he had had some financial hard times. joining us at post nine cnbc contributor and pulitzer prize winning columnist, jim stewart, good to see you again. you go to motives as to why somebody would do this. >> yeah, again, it surprised me davis more than even mickelson or walters because he's this eminent wall street deal maker, chairman of a major fortune 500 company seemingly with all the trappings of wealth and success and looking forward to golden years in retirement. why would he ruin his life like this? i'm telling you, i don't even know where to start with the astounding things in here, but it is a textbook case in how not to manage your personal affair

he has to file that with the s.e.c., right? >> he does. ill send a message to a lot of the observers and supporters that he will probably make a stronger effort to self-fund his campaign. >> do you think that will help him with gop voters? donors, excuse me? >> i think -- well, one of the problems is when you self fund, donors begin to pull back. they figure you've got the money to write your own check, then why should i buck up my own? if you're going to write one check, right some more. the other part of that is that you need money to raise money. if he wants to go and do a low dollar or small donor program of writing his own check to go out and fund the type of infrastructure that you need to do that could help him farm a lot of that grassroots support that he has enjoyed across the country from the millions of voters that supported him in the primary so he has a better general election war chest. >> his campaign did say he raised a lot of money in the last week or so. we'll see once we get the official totals. andre, donald trump spoke

the only thing the government has gotten from him is the s.e.c. fine which he did not have to pay. back to you. >> jane, thank you very much. jane wells there in l.a. >>> 40 minutes left to go before the closing bell. let's take a look at the major averages. still lower. nothing extreme compared to some of the moves we've seen this week. the dow down 46 points. s&p down about 1/3 of 1%. we're heading into what's called qua quadruple witching. >> right. we'll no doubt see a lot of volume, maybe as much as 2 billion shares trading by the end of the day. but we may not see a lot of price movement. >> we'll keep an eye on it. >> that's what we're here for. alexa. >> do you have one? >> i do. >> you're speaking like you have one. >> that's 7 million more units than it's expected to sell this year. we'll have details on that coming up here. >>> beijing, accusing apple of violating patents on its design of its iphone 6 and 6-plus. what does it mean for the china prospects. that's next. uff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the

. >> he hasn't filed that with the s.e.c. give the loan. >> doesn't the interview and said he answered the question. >> he said he's going to do it? >> he sawed he's not going to going to repay the loans. >> why not file with the fec? >> i believe at some point he will. >> how much he's lagging behind in fun raising, do you think he can attract more from people if they say money is going back to his campaign 17%? >> i think it's the opposite. the extent to which the campaign has been extraordinarily frugal makes it a more attractive investment for people. if you compare -- everybody agrees on. in the primary we spent the least amount of money and got the best result and everybody agrees has shown we can have a more efficient campaign operation. if you look at where a lot of money will go in the future. obviously advertising will be a big chunk of that and another thing we're doing differently is putting more scrutiny on people involved in polling and advertising and all aspects of the campaign. we're running a much tighter shi

. >> this is going to concern the s.e.c.he valvane has reaped money that was from health care securities. he al leblgedly did it by insider trading on tips that he received from a man named gordon johnson who worked at the fda for a dozen years. mr. johnsonle allegedly remained in close contact with the colleagues at the fda and he did not reveal at that point allegedly that he also was consulting for hedge funds. and now, valvane does work for visiu m, the big hedge fund, and we will follow this, but back to you. >> thank you, sue. >> and larry summers is taking a shot at janet yellen in an op-ed post, and what does that mean ahead of the fed statement? we will be right back. >>> larry summers is take ing a shot at the fed and chair janet yellen in an op-ed for the "washington post" and steve l s liesman is live there ahead of the important fed statement, and steve, it is hardly the first time that larry summers has done it, but the argument is not getting softer? >> no, this is not the normal summers' scream, because it is

issues are relating to the amount of derivatives that the s.e.c. has seen being used in retail mutual funds. what are you saying -- if you're looking at balancing risks, are there upside risks that you worry about? >> so it is certainly a huge focus of our work at the board is to carefully, systemically, periodically assess risks that might be building in the financial sector and, you know, we have a much more well-developed analytic framework and a staff that is now dedicated to this in the wake of the crisis and we have additional tools that are macroprudential in nature that complement our monetary policy tools so that to the extent we do see building risks in certain sectors, we have a broader sense of tools that would allow us to at least in part preemptively ideally address some of those risks without overly burdening monetary policy which already has a pretty clear dual objectives. with regard to the assessment of risks today, you know, earlier we had called out some concerns about leverage lending and put out some guidance there and we saw

as we told you the s.e.c. leged that sanjay velani engaged in insider trading when he worked at viziom. involved two other people who were named. they've pled guilty. we have a statement on behalf of sanjay vavani. the response is sanjay valvani is an innocent man whose investment decisions were always based on rigorous and appropriate research and analysis. he and his counsel look forward to his day in court where it will be shown that the prosecution of mr. valvani is yet another example of the united states prosecutors office to stretch the facts and law to try toe transform entirely innocent trading decisions into crimes. so a situation that continues to develop, scott. it will be interesting to see where it goes from here we have his response, back to you. >> thank you for that sue herera. >>> the business of basketball has never been better, that's what commissioner adam silver told me this week in our final sit-down in oakland. record ratings in the finals, soaring franchise values and emerging star like

. >> you filed a form with the s.e.c. suggesting as much. and you had last raised a fund in 2012 so you're sticking to your traditional trajectory it sounds like. josh, what about you? you raised your last fund in 2014. $175 million. are you in the market this year? >> so we typically raise -- we target raising every 2 1/2 years. >> ok. >> that puts us on pace to raise at the end of this year. >> ok. great. i guess -- chris, do you feel like -- you can say no. obviously you would never say no to josh for good reason. but, you know, when i smoke to bill, he lgs made this point it's very hard for l.p.'s because if you say no you can lose your seat at the table possibly for the duration of your career as an l.p. do you feel that that -- true? >> absolutely true. and it's interesting. because we were just talking about this back stage. the yale investment office which is the exemplar of -- they basically invented the game in a sense from the institutional investments perspective. one of their secrets to success historically is geth off the base

. >> what happens if you don't get the go-ahead from the s.e.c.? think there are a number of different options that we can pursue. we do believe that we have -- we had the case to be approved. we think what we had a lot do is precedent in different ways. we just combined them in a unique way that protects investors. there are many paths forward for us. we hope we are approved next week, obviously, but there are many different ways to solve this problem. there are many paths we can pursue. i think we're going to fully exhaust all the resources we have to make sure that this is the outcome we want. >> people are going to be in pursuit of you and vice versa. it will be really interesting. brad, thanks so much for joining us. >> all right. thank you very much. >> brad katsuyama from iex. >>> the dark side versus the light. all famous in epic views. as summer fast approaches, there's another one raging in offices nationwide. but first, alphabet is holding its annual shareholder meeting today and we'll tell you what happened next. ♪jake reese, "day to fe

have about the current state of the territory's debt and finances, i sent a letter this week to the s.e.c asking that actions and inactions by government officials be included in any investigation into puerto rico's debt. today i also sent a letter to treasury secretary lew inquiring about reported confidentiality agreements that treasury officials have signed with component units of puerto rico's government. the existence of such agreements raises many questions. in disturbing reports that treasury officials may have completed negotiations between puerto rico and its creditors in order to get a better legislative outcome raises even more questions. mr. president, with respect to puerto rico, the obama administration is and has been interested in one thing and one thing only -- obtaining the broadest and most comprehensive debt resolution authority for puerto rico possible. in an obvious attempt that favor public pensions in puerto rico. while i tried last year to work with administration officials toward a resolution for puerto rico, treasury officials remained extraordinarily rigid in t

it's in the s.e.c. should require all to disclose. i have about a minute left. i also want to suggest to the committee that you put the necessity of slowing the revolving door between government and private industry or lobbying organizations. in the '70s only about 3% of retiring members of congress -- in recent years it's been about half of all retiring and 42% of all retiring representatives have are turned to lobbying. regardless of party affiliation. this helps erode confidence in the system rather than corporation corporations. it is similar with the executive branch. it is particularly troublesome especially deep concern about wall street's financial and political power. i suggest a strict two-year interval between high level government service and employment in lobbying or in private industry and a similar interval between serving as top executive and starting at top level position. i recognize performing systems is a large and difficult undertaking and especially difficult at a time when income and wealth have become so concentrated. as many of you know w

the industry, they are fine with the fiduciary el role, but they would have preferred it came from the s.e.c0 act fiduciary rule, and now we have a new rule, and how it applies is different and it is going to be causinging people to the make changes, and it is constructive to look at the 401(k) space to interpret what it means for the ira market. >> before we let you go, and obviously a hot presidential race are, donald trump versus hillary clinton, and your thoughts on the race, and what impact it might have on the trading and the markets? >> well, i make it a habit not to comment on politics. but i do think that in the market, elections such as this one, when you have such a different agenda between the two will cause volatility in the short term, but in long term, it won't matter that much. >> thank you, fred tomczyk at the sandra o'neill conference. >> now we go over to you. >> thank you. and we go to kayla with more on the meeting in washington. >> yes, this morning, prime m minister of india is going to be a addressing congress, and when talk about what that means, and the payment disr

as an example of that, this very week, there was an amendment offered that would have halted the s.e.c.'s move to electronically deliver shareholder information. amendments like that are a step in the wrong direction. i've been working closely with my colleague darrell issa to try to encourage across government the adoption of electronic standards for information. i also believe we should act and pass the lifetime disclosure act. for so many savers, their retirement account is first or second largest asset they have to their name, their home and their retirement account. knowing what that number means tangibly, and this was mentioned in the introduction, in terms of lifetime income, is a very important piece of information that has a positive impact on savings, and not information that's necessarily intuitive to most americans who don't have extensive financial training. so it's something that can be provided that will absolutely help americans make better and more informed decisions about their retirement. and having that information and empowering people leads know the next critical

finally note late friday the s.e.c. approving iex's application to become a stock exchange. iex's speed bump, that was quite controversial, but iex says will decrease, theme for michael lewis's flash boys book. the dow up 244 points. >> energy and financials leading the way. let's get to jackie at the nymex. >> good morning, carl. that's right, oil prices going over $49 a barrel this morning. and the strength that we're seeing as bob mentioned is really on the currency play here. you've got a weaker dollar, you've got the basket of currencies that it's measured against a little bit stronger today as these brexit fears are easing a little bit. and that's really why oil is at the upper band of the range we've been watching. but that's been the expectation for the next month or so, so not really a huge surprise on the energy trade. remember as brexit fears do ease you're also going to have concerns about global growth easing as well, that's supportive of oil prices too. meanwhile gold ticking a leg lower and with currency in weakness you would expect gold to be higher. not so mu

. >> well, last week we got this notice of at least the s.e.c. taking a look. you do wonder a bit about timing, although frankly this softbank deal they've been working on this for months. >> right. i worry accounting irregulari irregularities because they have never produced an upside for me. this is a bit of a motivated sell. >> it is. there's a lot more behind it. they got a six-month lockup at softbank and does change the approach and seams of the company to a certain extent, but they're still an enormous holder of alibaba, something like 27% or 28%. your point on yahoo so much we focus on sell of the core business of yahoo, really what people should be focusing on is what is going to be left, which is the alibaba stake. how is that going to trade? what will be the discount of that company and its holding being alibaba to the value of alibaba in the marketplace? that's all you need to know really. if it's 85% of the value instead of 80%, that's more of a delta than whether they get $4 billion or $5 billion or more than that for the core business. so many pe

the market understood the bear was going to have a problem before the s.e.c. did.when owe get these kinds of market signs, you can wait until it's conclusively established. but if you wait until everything is conclusively established, then you're not going to be able to raise capital from the markets. and so i think there needs to be a focus on the apparatus and the health of the banking system on the european continent in particular. and obviously given some of the dramatic moves in british bank stock prices, that's going to need some regulatory attention as well. >> we are talking with our guest host this morning. larry summers. one of the things we've been watching is the meeting today. eu leaders meeting on how to react to the leaving of the eu. they could agree to take this slowly and work things out. and i just wonder what you think is "a," what they should do, and "b," what the most likely scenario is. >> i think we on shows like this usually like to frame things as either/or choices. and political leaders usually want to have it both ways. so my guess is th

the s.e.c. show you with $1.3 million raised on hand, excuse me, on hand, compared to $42 million in hillary clinton a's war chest. now, you understand money, the importance of money, it helps you mount a professional campaign and it's a sign of whether people are supporting you. how do you explain those lackluster results? >> let me just tell you this. i understand money better than anybody. i understand is far better than hillary and i'm way up on the economy when it comes to questions about the economy. but we have a party that, i mean, i'm having more difficulty, frankly, with some of the people in the party than the democrats because they're just -- they don't want to come on. they will probably eventually come on. honestly, if they don't, it's just fine. i can win it either way. i may be better off winning it the opposite way than the traditional -- >> can you win it if she raises 42 -- >> i raised a lot of money. you also have to have some help from the party. but i raised a lot of money.

as an example of that, this very week, there was an amendment offered that would have halted the s.e.c.'s move to electronically deliver shareholder information. amendments like that are a step in the wrong direction. i've been working closely with my colleague darrell issa to try to encourage across government the adoption of electronic standards for information. i also believe we should act and pass the lifetime disclosure act. for so many savers, their retirement account is first or second largest asset they have to their name, their home and their retirement account. knowing what that number means tangibly, and this was mentioned in the introduction, in terms of lifetime income, is a very important piece of information that has a positive impact on savings, and not information that's necessarily intuitive to most americans who don't have extensive financial training. so it's something that can be provided that will absolutely help americans make better and more informed decisions about their retirement. and having that information and empowering people leads know the next critical

the primaries. >> while trump's day began with campaign bedlam as one put it ended just as rough. a new s.e.c. filing from may shows the campaign has $1.3 million of cash on hand and $3.2 million raised. campaign spokesperson said there were, quote, no concerns regarding the new fec report. trump's campaign shake-up came after new details emerged of a scary incident involving a uk man who was arrested at a las vegas trump rally this weekend. investigators say while trump was hold ago rally on saturday, a 19-year-old man walked up to a uniformed police officer and attempted to take his gun. he was unsuccessful. authorities say that man, said he wanted a gun to, quote, shoot and kill trump. court documents say sandford traveled from california to las vegas for the rally and even went to a firing range to learn how to shoot a gun. the complaint quotes sandford saying if he were on the street tomorrow, he would try this again. officials say sandford appears to have mental problems and he has been charged with an act of violence on restricted grounds or against someone unsecret service protection. i

. >>> berkshire hathaway ceo warren buffett raising the stake again in phillips 66 by more than 500,000 shares, according to an s.e.c. filing. berkshire has been adding shares over the past few weeks and now has a stake of more than 15% in the company. shares of phillips 66 down marginally at 80.83. >>> sad news in the business world tonight. the man responsible for escalating the cola wars in the 1980s has passed away. former pepsi ceo roger enrico, best known for transforming the brand into a pop culture leader by signing deals with michael jackson and madonna, died at the age of 71. he served as chief executive of the company from 1996 to 2001. >>> today we also learn that prince died from an accidental overdose of a powerful painkiller, the synthetic opioid fentanol, which is more potent than heroin and morphine by a long shot. find gsds of the medical examiner confirm suspicions the drug we've been reporting on was a player in the musician's death. >>> the world's biggest cancer research conference starts tomorrow in chicago. in addition to the advances being made medically, one topic has been a key feature of

says elliot management has bought a large stake in the home builder saying elliot's position is greater than 4% but less than 5% that would require an s.e.c. filing. shares of pullti finished at 19.37. the online real estate company zillow agreed to pay the move, incorporated, owned by news corps, $130 million to settle claims it allegedly stole trade secrets from that company after it hired two of that company's former employees. move had been looking for about $2 billion in damages. shares of zillow up more than 5% at 32.40. >>> newspaper publisher gwinnett isn't ready to give up on its proposed takeover of tribune publishing. a day after a regulatory filing revealed lkluster support for tribune's board among its shafrlders, ginette said its unsolicited offer still stands. shares up a fraction to 15.38. shares of tribune up 1% to 13.16. >>> medical device maker zimmer biomet will buy ldr holding for about $1 billion. that merger is expected to increase zimmer's presence in the spinal device market. zimmer shares were down nearly 2% to 119.43. ldr shot up 63% to 36.99. >>> the food and drug ad is seeking more data from a study conducted

proposed removing ceo mark zuckerberg's majority voting control in the event zuckerberg decides to exit management at some point. in an s.e.c. filing facebook's board plans to ask shareholders to vote on the measure. this all comes as viacom's directors and its controlling shareholder fight for control of that company. >>> for many of us, our smartphones hold some pretty sensitive information. but what happens when you hit delete? where does that information actually go? turns out it may still live in the phone. and the recent debate between apple and the government regarding the unlocking of cell phones raises some questions. like who, if anyone, has the right to unlock your cell's secrets? andrea day has the story. >> it's actually a treasure trove of information. >> reporter: where you go, what you like, and how you sleep. >> often this data lives in places on the device that the owner can't see. >> reporter: and if a crime is committed, it can play a vital role in the investigation. >> we can recover that and create essentially a timeline of how the phone was used and where the person was. >> reporter: we were invited i

who wants the headaches of all of the prices, the irs investigation, and s.e.c. vestigations, and a whole bunch of products that were just propped up with high prices. so, no. if it does not make sense from the cash flow standpoint from the debt holders, i don't see anybody stepping in to buy the company. >> dave, congratulations on a great call, but i will push back on the things can get worse, because as you say, in all likelihood, we will see the sales regardless of what mr. ackman says, but if we see them, cou couldn't the sales be better, because like you say, it is not a fire sale, because they may have a little bit more time, and because the market may be in a better place going forward, and couldn't that at least be one scenario to play out for them? >> okay. imagine a consumer has a big mortgage that they cannot afford, and credit card debt they can't afford, and then they start to sell their furniture, and you say, well, look, that is good. at least it pushes out the debt, and you won't get a foreclosure right away, and that is what valeant is in store f

clinton's, with an integrated system of the rnc and the trump campaign, which doesn't appear on an s.e.c. report. we have hundreds, actually thousands of people in the battleground states, political organizers, who are now in place. >> trump clearly not happy with the narrative that has taken shape in the media over the last few days. in addition to that tweet about elizabeth warren, that you talked about, he also said that the media is unrelenting this morning. they will only go and report a story in a negative light. i called brexit, he said, hillary was wrong. watch november. this is consistent with what we've seen from donald trump over the last three or four days, taking credit for predicting that vote overseas, for britain to leave the eu. but trump has come under fire from, for example, democrats, including hillary clinton, out with that new ad this week, slamming trump on his comments in scotland after the brexit vote. thomas? >> hallie jackson reporting outside the trump tower. hallie, thank you very much. appreciate it. as we were telling you, we are expecting any moment now to

he recently revealed that he's taped up the camera on his laptop. >> in facebook's s.e.c. 5 million a year for security. but, listen, up until five years ago, the guy was renting a really modest house in palo alto. if he's investing this much in privacy, it's because of the paparazzi. more sereses youly, my sources say creditable threats against him, his family, even isis supporters threatening him earlier on this year. putting the tape on the webcam, it's a little paranoid. lots of people do it, including james comey, the director of the fbi. this is a big target. the guy's worth just south of 50 billion bucks. put some tape on the webcam. >> becky worley, thanks very much. >>> we get into surprising sleep remedies for insomniacs. it was trending on the "wall street journal" site. i want to bring in jen ashton. senior medical contributor for more on that. lots of good tips. the one that surprised me was the simplest i guess, do nothing. >> right, first of all, let's take a macro view here. not true medical insomnia. we're talking about occasional i think the concept of do

former governor of michigan, weather watch the largest muslim american population. first, s.e.cple in the community. that kind of thing, that loses him hundreds of thousands of votes in a state like michigan. >> just outrageous, indefensible position. ted cruz had a position we should have a moratorium or ban on immigrants from countries where we know terrorism is prevalent. that makes sense. that became donald's position. a popular talk radio host, actually who is not a fan of all trump defended him on that position three hours later, went on a competing network and completely reversed his position. even when you try to say we like this, he flips his position and we're back to square one. >> rick, if you had to give donald trump some advice and say this is going down and you have one chance to save your self and the party in this lec, what would you tell him? >> he needs a campaign structure that does its job. as i've mentioned before, when he was after the indiana judge, of mexican heritage, that was such a distraction. he missed the opportunity to weigh in on ig report of mis

the reason why is because urban has just filed their regulatory s.e.c. 10-q quarterly filing, and in at report they do make mention of the fact that they say comparable store sales in their retail segment so far during the second quarter of their fiscal year 2017 are looking like they're mid to single-digit negative. back in may there were analyst estimates that came out saying they expected full systemwide q2 comparable store sales to be an estimate of about 0.4% positive. that was when urban's earnings came out back in the middle of may. so it looks as though here perhaps some of the guidance being given in these unaudited financials in the 10q filings not matching up to some analyst s figures. we'll see what happens the rest of the hour, kelly. back over to you. >> it's disappointing because we heard that memorial day sales picked up. so clearly the momentum is kind of accelerating. every day you get a blowup. it's ralph lauren, restoration store. amazon online, that threat. and it's really being a disrupture in the industry and these companies have to hunker down and see who their

supporter and white house political reporter jeffrey lord and host of the ben ferguson show, ben ferguson. ben, this anasis came from s.e.cere always meant to be public. why would the trump campaign allow a disparity to happen like this knowing it was fully accessible to newspapers and the public? >> i think that this is, to be honest with you, i've been critical of donald trump, he's hired his staff in a very different way than others like hillary clinton. first off, he didn't have anybody that he knew very well that was in the political realm. he hired people in different jobs coming from different things into his campaign. he had a much smaller staff than hillary clinton has. he hired them based on what he thought they were worth at that moment. i don't think he needs to say, do we have to pay this person more than we hired these people. the second thing is this, hillary clinton has a lot of women that are working for her. that's very normal for women that are running for office to have more women proportionately working for a women. even the school of government at harvard said that about other campaigns. the idea tha

s.e.c. danny banks. assistant in charge jeff walsh, atf trevor velnor, mayor of orlando buddy dyer, mayor of orange county, teresa jacobs and additional partners including the florida harp, orange county fire department, orlando fire department and many others who assisted us. the joint terrorism task force has released excerpts and portions of the timeline of events that happened inside the club of the pulse on june 12th. you've been provided with a general timeline of the orlando police department's radio communications as well as a 50-second conversation between the killer and the orlando police dispatcher. while we're not releasing the audio, what i can tell you is that while the killer made these murderous statements, he did so in a chilling, calm and deliberate manner. finally, a summary of the communications between the crisis negotiator and the shooter have been provided to you and the chief will take your comments and questions after my formal remarks. while we will not be providing the 911 calls made by the victims, we're doing this out of ultimate respect. yes, the audio is compelling, but to expose that now would be excruciatingly painful to exp

the company so they knew better. that company's still trying to unravel itself after getting together this company i think is much more of a family affair. they don't necessarily disclose inlaws in those s.e.cngs, but this is one where everyone kind of felt after that solarcity quarter that they're switching their methodology, maybe you're going to have to buy the panels, maybe they lease the panels, making money leasing f you buy they don't make that much, tax credits gone away, utility companies all against it, but musk has one thing going for it, david, millennials, they love it. they don't have enough money to buy stock because they owe so much debt on student loan. the milleninials champion this deal. i don't know when we're populated on mars and nobody wants to go. the cars are great. i haven't liked -- it's a cult stock. what do you think? don't you know what sustainability means? it means you can lose all the money you want as long as you're sustainable. that's how these people think, carl. they don't think, well, you know, i want to put my kid through college, they want to put my kid through sustainability. >> i understand. but there was questions about to boost production and now