u.s. banking sector and european implications. the selloff in u.s. res is threatening to push them below a technical threshold. concerns about the stability contributed to a tempestuous week as aggressors -- investors aggressively bet against it bank stocks. joining us now as joost beaumont from abn amro. we saw a letter pressure on regional banking names. friday looked entirely different. friday we saw a strong rally in regional names and some said that was short covering. do you have any assessment as to whether the strength we saw on friday is going to be long lasting and endure into this week or will we be back to talking about weakness in the u.s. banking sector? joost: that's a tough question. i think conditions at the moment are so volatile. last week, what we saw it in the u.s. was clearly that investors were looking for the weakest link to the rescue of first republic bank. i shifted quickly to the next week for pacwest and western alliance and indeed on friday, the stock price rose but over the week, still down. i think it's too early to say

u.s. banking system. bnp paribas liens on its traditional strength in fixed income to lift revenue for its bank. there cfo spoke to anna edwards earlier. he says he does not see an idiosyncratic risk in the u.s. banking system. >> from bnp paribas, what we see in europe it is defined as economically neutral. we do not see a recession coming. we will see some growth, even if it is sluggish, but you can also see the growth and commodity prices which are tapering off. then there is a rebound in china, so overall that is the view that we give as the view for europe. anna: we have seen turmoil in the banking sector over the recent weeks. just to get your thoughts on that, how are you navigating that? did you see deposit inflows as a result of what happened to credit suisse? >> you should look at the eurozone, which is supervised by the ecb. they have all of these metrics and supervision that basically if you look at in the euro zone, there was no idiosyncratic risk. there was definitely not a systemic risk as w

u.s. regulators seizing first republic bank in what is the third failure of a u.s. nine stocks are having an impact on your money. >>> it is monday, may 1st, 2023. you are watching "worldwide exchange" here on cnbc >>> welcome back good morning hope your day is off to a great start. let's check on u.s. stock futures. a move to the upside since we started a half hour ago. s&p, dow and nasdaq are in the green. we are looking at the bond market yields on the 10-year treasury are 3.46 we will watch that as we inch closer to the fed decision 2-year treasury still above 4% something to watch. >>> let's get back to the top story and breaking news this morning. california regulators seizing possession of first republic bank in what is the third u.s. bank to fail in the last two months jpmorgan chase says it is assuming all first republic deposits and all uninsured assets leslie picker is here with more on the story good morning >> frank, that is the uninsured liabilities. jpmorgan chase acquiring first republic from the s.e.c. the transaction is part of the competitive biddi

u.s. banking system. it reflects the down turn of technology in the last year. that surprised me. i'm very involved in tech and fintech. we have seen those companies go down 50% to 60% and 80% in the case of klarna we are seeing the re-balancing of the economy post-pandemic we got height with the pandemic investments. did that become the big thing? now we are stepping aside from that i think that's what is really happening in the u.s credit suisse was a different case nothing to do with the interest rates or the exposure to tech. it was much more to do with, you know, basically mismanaging their accounts and auditing. very different cases >> chris, thank you so much. >> thank you, chris, for joining us on the show chris skinner. >>> also coming up on the show, the uk conservative party comes under pressure after facing a crushing defeat in early elections. >>> as king charles hopes the coronation can bring his country together my name is ashley cortez and i'm the founder of the stay beautiful foundation w

u.s. banking sector? is the regional banking sector of the u.s. viable at this point? tatjana: we think it is quite vulnerable, and i do not think they are seeing the end of the problems yet. what i think is important now is regulators can find solutions, because they might not have enough time to do so. because investors and general depositors might get again very scared about the future of those banks. francine: what is the read across? i cannot make up my mind on whether that means -- the rest of the financial system is insulated, or if we see regional banks and something else gets tested after that. tatjana: i think it is a relatively insulated problem, but we still see the impact and relevance of the regional banks in the u.s. banking system. so it is important in terms of consumer finance, mortgages, so that is why it is a hard to solve issue. it would not be in favor for the u.s. consumer and u.s. financial market in general if we were to use these -- lose these regional banks and where we end up with this one giant and nothing else. tom: how do you want to be a

that's what u.s. bank is for. and you're growing in california? fres-yes. encinitas?eed-us. anaheim? big time. more guacamole? i'm on a roll-ay. how about you? i'm just visiting. u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power. never been in this championship run, playing 1/7 and deciding game in the opening round of the series, and the folks in sacramento wanted their team to be the one that knocked the warriors out. but the warriors have again their team who's seen a few high pressure games. it's a battle the first half nice give and go for domantas sabonis, who plays a two man game with malik monk, that point the kings out of four point lead we all know about steph curry. the country is finding out about cuban loony one of loonies 21 rebounds, two of his 11 points. on the clay thompson missed sacramento by two at the half. the warriors took control of the third quarter, curry somehow finds a lane in the key gets the shot to fall. despite the, but he would do something he's never done in his career. but before we get to

para eso está u.s. bank. ¿y están creciendo en california? sí, al sur, al norte, este, oeste.mbienge. ge...ge.. ok, está bien. u.s. bank, número uno en satisfacción de clientes de banca personal en california según j.d. power. algunos servicios y documentación de cuentas están disponibles solo en inglés. paula: antes de despedirnos si quiere reportar algo que le preocupe puede enviarnos un mensaje de whatsapp. yadhira, tÚ tienes mÁs informaciÓn de tiempo. se dirÁ: sÍ, vamos a tener condiciones tranquilas. estaremos en los altos 60. todavÍa no viene el calor. yadhira: yo vengo preguntando hace meses cuÁndo va a haber calor. yadhira: todavÍa falta. leÓn: 24 de mayo y estas son las noticias principales:

u.s. banking sector given the current turmoil. w concerned are you with the regional banks stateside and do you think more collapses are in the pipeline >> it seems this is far from over you know, we apply the savings and loan crisis from the '70s and '80s with small banks. this is serious. you would not like to see this spreading. for the time being, this looks to be a particular part of the banking system whereas the stress test and an regulation and regulations seem to be insulating all of the large names in the u.s. banking system from that point of view, this will be a tedious work process there will be further cheaters there might be some economic clollateral damage there kno not to the extent in 2008where the banking system was taken down it looks like smaller banks and regional u.s. crisis >> okay. great to get your view on what is happening in the u.s. banks can i step back and look more broadly at markets and ask what you think is the optimal portfolio construction here? how do you think about different as set classes and

guy: banks are breaking in the u.s. id a better job in preparing its banks for a crisis. if banks do not bring in europe, what does? peter: yes and no. it is different. there is a big difference in the u.s. in regulatory framework for small and medium-size regional banks in general. that is not the case in europe. regulation applies to all banks. for the ecb point of view, which is a big difference from the time when i joined, is there is a very centralized degree of information in frankfurt. they know pretty well what is going on in the banks. what we see today, for example, if you look at the banking system is majority mismatching. it is not enormous. the banks have to be careful, given the experience of the spread widening, that you had in previous years. the interest rate risk in europe in the banking sector is relatively contained. you never know. but that is not the biggest issue. the biggest issue would be if you have a girls if you have --. one of the points you make in bloomberg in your comments is if you look a

that's what u.s. bank is for.'ll get there together. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. >>> welcome back to "options action." nat gas rising above the rest of the energy space, 17% over the past month as texas crude and brent both struggle. carter, what do the charts say >> there is an expression, called the widow maker, this is dangerous stuff, especially if you're using leverage in the futures, but you get these violent countertrend rise, a few charts, the first is the front month, you can see here this is the second 35% rally in just a matter of six months but if you look at the continuous

that's what u.s. bank is for.e together. >>> welcome back to "options action," time to take some tweets the first fan asks broadcom has had a massiv run-up this week, thoughts on a earnings on first possible pullback >> buy a put spread, protect yourself for next week for the earnings event, the stock is up 1 is 1% today. spend 1 or 2% on a put, no big deal so i would put rinse and repeat that play, and hang onto it. we added of broadcom, we like that stock, hold it to the upside. >> next tweet, where do you see bitcoin and ethereum heading from here? carter, what are your thoughts >> yeah, so the dollar has rallied considerably, and i think you fade the dollar here by contra distinction, the dip in bitcoin, i think they're viable >> time for one more tweet is there a rule of thumb for selling cash cover puts on a dividend paying stock you would like to own at a price lower than its current price who are how far out should i go? >> not through earnings, ford example from before, levels of support as well, and that

this is the third u.s. bank failure since march. there are fears it will not be the last. early monday morning and regulators announced the end of first republic bank in what they hoped was the end of the crisis and confidence in the u.s. financial system. j.p. morgan stepped in to purchase the california's based banks deposits and assets before the stock market opened. j.p. morgan's ceo jamie dimon spoke with analysts about the deal. >> no crystal ball is perfect but this part of the crisis is over. reporter: first republic had been teetering in the wake of collapse of two other banks. amounting to some the largest bank failures in u.s. history. rising interest rates caused loans on investments to falter. large uninsured deposits more prone to withdraw them in times of stress. >> we have a structure of near zero interest rates for 20 years and when you reset them especially quickly which the fed has under pressure from inflation debates, you will have structures that do not meet the challenges of a new environment very well of higher interest rates. reporter: the federal

adjusted for inflation, that's more than the amount held by some when he five u.s. bankshat collapsed at the height of the global financial crisis 15 years ago. the paper also says from 2008 and 2015, more than 500 federally insured banks failed in the united states. j.p. morgan shares rose more than 2% today following the announcement. wall street shares initially rose overall but lost in later trading hours over concerns about impacts expected next from the interest rate hike expected from the fed this week. to japan, where wages are starting to rise after decades of stagnation. the cost of living has gone up in recent months amid global price hikes. the countries of central bank is going against the global trend of raising interest rates to keep inflation in check as it thinks the price rises are temporary and the overall deflationary pressure has not gone away. we have the details. reporter: staff at this pastry shop near osaka got welcome news recently, their bonuses this year will be one third higher than last year. >> gives me more motivation at work so i am very h

para eso está u.s. bank. ¿y están creciendo en california? sí, al sur, al norte, este, oeste.n orange? -tambienge. ge...ge.. ok, está bien. u.s. bank, número uno en satisfacción de clientes de banca personal en california según j.d. power. algunos servicios y documentación de cuentas están disponibles solo en inglés. >>, el papÁ fritas estarÍa ligado depresiÓn y ansiedad. los expertos indicaron que los resultados son preliminares. nosotros nos comunicamos con un mÉdico que nos da su opiniÓn sobre el consumo de frituras. que te comas unas papas una vez al mes no cebada a andar depresiÓn o ansiedad [mÚsica] >> quÉ placer saludarlos en este "contacto deportivo" de martes. los lakers pegan primero frente a los warriors. al concluir con 30 puntos, 23 rebotes y 40 asistencias. lebron aportÓ 22 puntos y 11 rebotes por los warriors. el juego dos serÁ este jueves. nos vamos al juego de vuelta de la concacaf. los Ángeles derrotÓ a filadelfia. el francÉs al 90 con un gol o —— global de 4—1. la real sociedad derrotÓ 2—0 al real madrid. error de la saga que aprovecha muy bien el japonÉs pa

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d.er. >>> all right, good evening everyone from sacramento where the warriors somehow did it again. remember, the sacramento kings they led at the half by two. so what happened? well, they exploded offensively. for the five warriors scored in double figures and steph curry. wow. kevon looney. 21 rebounds. in this one. they forced the kings to do some poor shot selections. and seven turnovers in the game. all that and they get the lakers next round? let me you haened this ns, . theyreho aygame in 21 years. late first half d aaron fox to sabonis for the lay in. steph curry in the first half. long three made it two point game. curry had 20 in the first half. and then klay thompson. went 1-10 shooti e first half. but got the corner pocket three here to give golden state a 64-61 lead. on to the curry show. it continued in the second half. drew the foul. threw it up and it went in. as he was falling to the ground. 67-62 dubs after the free-throw. next possession, curry, missed from the corner.

have taken action to facilitate the sale first republic bank after a 3rd u.s. bank collapsed monday morning. government regulators stepped in to control of first republic bank. >> and quickly sold off most of its assets to jp morgan chase as part of the deal, the fdic provided 50 billion dollars in financing to chase these actions are going to make sure that the banking system is safe and sound. >> and that includes protecting small businesses across the country who need to make payroll for workers and their small businesses. >> while the biden administration says all is well with the u.s. banking system, the banking system overall is and stable first republic is the largest bank to fail since the 2008 financial crisis is and rules that were put into place after that crisis have since been weakened by congress. the president's been clear that he is supportive reinstating a lot of the rules on these large regional banks that were rolled back in the previous administration. but ej and tony, with the conservative heritage foundation says more regulations won't fix the

u.s. banking sector.o bloomberg about the value of bank access -- asset. >> we are going to need to do careful thinking about marking inc. assets -- marking inc. access in more real ways. but there is some alarmism in the calculations you were describing. it insufficiently recognizes that, if you hold a bond or mortgage, and the interest goes up, the value of the mortgage is down. but equally, if you are having a deposit, and it is as a low interest rate, and you are going to on a spread, there is an asset there. when interest rates go up, the value of that asset of. -- the value of that asset goes up. it is wrong to focus on the first adjustment not to the second adjustment. absolutely, we have not been as careful in about interest rate increases as we should have been. it was unfortunate that fed stress testing did not put weight on rate scenarios in the way that it should have. that is an important failure by the federal reserve system. i also think that the kind of analyses that you are citing are ove

u.s. banking stress? have you been able to take advantage of the turmoil that u.s. banks are feeling right now? >> what we have seen, we have an institutional business in the united states, but mostly our businesses stayed the same in the multinationals but also the financial sector. we are seeing a bit of a flat quality. given our strength in payments processing, we have picked up a number of mandates with multinationals. they have moved their business away from some of the banks that have struggled. haidi: we talked about the difference with the bank and turmoil we saw in the united states, that it is more reminiscent of what was on the 1980's. does that mean australian banks and households are equally as vulnerable even if our lenders have more robust fundamentals? >> that is a great question. i guess i have the benefit of having work through a lot of that period of time. the structure of our industries different than the united states. many of the things have not happened here. that does not mean we should be complacent. what happens in the united states takes it

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.uit argues that the waiting period in dangerous law abiding citizens who may need to buy a gun immediately to protect themselves. gun advocates have been challenging california's gun control laws since last year , when the supreme court narrowed the government's authority to restrict possessing or carrying firearms. california has mandated a 10 day wait for all gun purchases since 2011 the u. s surgeon general announced today. the nation is facing a devastating public health problem and epidemic of loneliness. ktvu jana katsuyama joins us now live to explain janna julie, the u. s surgeon general says when he first took office, he did not see loneliness as a public health concern. but the pandemic and research including one ucsf's study has shown that loneliness can impact both mental and physical health. loneliness is far more than just a bad feeling . us surgeon general dr vivek murthy released an 81 page report tuesday, saying loneliness is a nationwide health problem. the report cit

valerie tytel is with us for the latest on u.s. banks. jana will be breaking down the ecb's decision. alex webb is standing by with the apple earnings. manus, let's start with the banking space. manus: pacwest, western alliance and first horizon led the concerns. there is anxiety about financial stability. let's bring in valerie tytel in terms of what is happening here. valerie, it has been a brutal week the regional banks. what is the circuit breaker to the banking crisis? valerie: if you asked the market yesterday, they would have told you a fed cut in july is what they needed. at the worst point in the session yesterday, a 25 basis point fed cut in july was fully priced. others are talking about an fdic full deposit guarantee as a way to backstop this issue. but i would argue the problem has gone way beyond that now. the new regional lenders who are in trouble do not have a high undershirt deposit base. they sit on 75% of insured deposits. it is not about that anymore and has moved on to a profitability issue. the fact that the regional

the biggest u.s. bank even bigger. su keenan joins us now. jp morgan, many people were fighting for parts of the business, but jp morgan offered to take nearly the whole thing. >> typically, that is what the fdic wants. no viable bid emerged. the fdic then seized the bank and in a predominant announcement said jpmorgan chase had taken it over. jp morgan seal jamie dimon predict in the crisis is pretty much over. he says everybody should take a deep breath. jp morgan is paying 10.6 billion this allows -- types -- $10.6 billion to the fdic. conditions were deteriorating at the bank. about 10 billion dollars had walked out the door in deposits, so a decrease in 10% just since april 21, a condition that indicated collapse. by end first republic could prove to be jp morgan's best acquisition in decades. that may explain why the stock took off right at the open in a big way. it is estimated jp morgan could earn up to $1 billion in annual net income. the biggest u.s. bank getting even bigger while at the same tim

the lender is the latest bank to find itself at the center of the u.s. regional banking turmoil. and futures are mixed after the fed signals a pause. fresh turmoil in the u.s. regional banking sector does weigh on sentiment. >> is going to be an ongoing assessment. we will be data to accumulate on that. an assessment would mean we think we have reached that point. it is not possible to say that with confidence right now. tom: the ecb is up next, with market seeing a downshift to a 25 basis point hike, on signs inflation may be topping out. manus: we have a host of german names breaking across the tape. volkswagen goes red. tom, it is a big top line for them take it away. tom: we are waiting for infineon, the chipmaker, that ties into the auto sector. let me bring up vw, the lines crossing, one of the world's largest automakers, the china story will be consequential. first quarter adjusted operating profit 5.75 billion euros, slightly above the estimates of 5.5 billion euros. oliver crook standing by in berlin for the analysis and reaction. you have been going through the earnings

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.u about the businesses moving in expanding or adding residential office space. suzanne phan shows us the changes underway. >> we are the heart of san francisco. >> union square is the place to be. >> i like to go to the nike store, i like to window shop. >> i bought something -- bought a pen and a shirt. >> with retail stores closing and others rethinking the brick-and-mortar locations, we decided to take a closer look at what is happening in union square. we noticed three big patterns. stores moving in. some stores cutting retail space, and some stores expanding. in the downtown shopping core, a new ikea store opening up at 945 market street. cocoa republican australian furniture store moved to the crate & barrel location at 65 stockton in union square. banana republic reducing its footprint. moving from this location on grant into a smaller space here on gary. >> downsizing their storefront offering something the consumer wants. >> as for the businesses, they include luxury stores. >

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.an: a 21-year-old man is arrest for three stabbings in davis that put the community on edge. he used to live in oakland and was a student at uc davis. he is accused to stabbing two people to death and severely injuring a third. the police chief says a flood of tips led them to the suspect. >> yesterday afternoon we had 15 callers reported seeing who matched the description. he was stopped by several patrol officers. he was wearing a backpack and in the backpack was a large knife. dan: uc davis put out a statement says it separated the suspect last week due to academic reasons. the district attorney's office will decide what charges should be filed. ama: the attorney f accused of killing the cash up -- that led to his death. today he issued a statement saying i apologize for my rear -- remarks following tuesday's court appearance, especially to bob's family, friends, and loved ones. i am regretful i characterize the talk screen in such an insensitive way. it was wrong. i am sorry. dan:

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u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power. >> new details about the shooting in the mission bay neighborhood. the victim has been identified as a 25 euro man from ohio who arrived at the hotel after awaiting the session. the shooting happened just before midnight. so far, no arrests have been made. >> elizabeth holmes her last chance for many years to eat a mates, other than prison cafeteria. she is under orders to report to the federal prison camp in bryan texas at 6:00 tomorrow morning. she has been sentenced to serve 11 years and three months -- three months on four counts of fraud and conspiracy. she is expected to spend her first 90 days in the minimum-security prison working in the kitchen for $.12 an hour. they has more than 650 inmates. most of whom have committed white-collar crimes. >> we all know the importance of sunscreen i was about a new report is raising questions about the effectiveness of a lot of this. request michael finney is here with more on this. >> the annual report on sunscreens is a real eye-o

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.an: any warning tonight. artificial intelligence is raising the risk of extinction, that is according to a statement by a bay area nonprofit. it was signed by some of the leading figures in ai technology. abc7 news southbay reporter zach fuentes spoke with the organization behind that dramatic statement. >> we are concerned that ai could potentially cause the risk of human extinction. reporter: the folks at the center f ai safety are not the ones who share that concern, the nonprofit drafted this one statement that making headlines worldwide. it says, quote, "mitigating the risk of extinction from it i should be a global party, alongside other risks such as pandemics and nuclear war." making it even more powerful are the big names who signed an agreement, including the ceo of openai who is behind chatgpt, and geoffrey hinton, called the godfather of artificial intelligence. >> after we got geoffrey hinton in, it became easier. we weren't anticipating getting the industry leaders. repor

banking sector. renewed focus on the u.s. gional lenders yesterday, pacwest shares plunging in your view, if we were to see the collapse of another regional lender stateside, would it have significant knock-on effects for the european banking system? >> actually, i don't think it necessarily would. over the recent period where there's been huge volatility in the regionals in the u.s. as reflected in the large rating actions that we took as well, you know, we have been taking a close look at the european banks and what is different about the uk and european banks and there's a lot that's different of tdifferent. the reason we don't through there is contagion from this is a robust balance sheet generally here higher levels of liquidity and unrealized losses flowing through capital and the profit and loss statements. to the extent that european banks have hold-to-maturity securities means they are l largely hedged this is an asset and liability issue and you have higher level of mature deposits across the uk and european systems

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.ight on abc seven news at 11. there's a new sign san francisco is moving closer to opening safe consumption sites to fight the drug crisis. we're also getting an opening safe consumption sites to fight the drug crisis. we are also getting a new idea of what they will cost. plus, a new sign in the east bay just-in-time for aapi heritage month. those stories and more on abc7news at 11:00. finally on a roll in san francisco. it is bicycle safety month and an event today promoted safe riding skills for kids. children got to practice their skills during this youth bicycle safety rodeo. the cub scouts, california highway patrol, and san francisco fire department were among groups holding the event. children learn bike safety lessons and more. mechanics also inspected bikes for any safety concerns. it looks like the weather held out. >> it looked a little gray and dreary today, but turned out to be ok. dion: good weather for anyone celebrating. spencer, thank you. that's it for this edition o

u.s. banking system. ernight, federal regulators moved to close down first republic bank and sell its assets to jpmorgan chase. this morning first republic's 84 branches in eight states reopened as branches of jpmorgan chase. this is the third and actually the biggest u.s. bank to fail this year. it's also the second largest bank by assets to fail in u.s. history. first republic's collapse follows the failures earlier this year of silicon valley bank and signature bank of new york. despite all of this, a treasury department spokesperson says, quote, the banking system remains sound and resilient and americans should feel confident in their safety of their deposits, with us now to take a closer look at this is cnbc's dominic chu. good morning. what does this mean for people who have money in first republic bank that have been banking with them forever? >> it shouldn't mean anything bottom line, jose, for those depositors and customers at first republic. the rescuing entity, if you want to look at it that wa

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u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d.er. >>> children's mental health was already on the decline before the pandemic, and according to the kaiser family foundation, school closures may have made things close, especially among marginalized communities. our lezla gooden says one school is trying to undo all this damage with a special class that teaches students not to worry about the past or the future and instead just be in the moment. >> reporter: they are adding something special the curriculum called mindfulness sessions which are designed to improve the mental health of students. i sat in on one of these sessions to learn how it is improving their day to day. >> it is paying attention to the present moment with no judgment. >> reporter: breanna rodriguez is a person that students at marsh elementary go to for a smile or a boost of confidence. she is the mindful life project counselor here. it is an organization that goes into schools to provide daily emotional and mental support of students through mindfulness practice

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power. dan: high school graduation classes all -- often include words like resiliency. ama: 15 high have graduated. >> open high school's class 2023 will probably best be known as surviving the pandemic during the years that shape their lives. what makes the graduating class so special? they were freshmen when covid shut down in person learning. they had to pay for and attend classes online. >> i did not me or push me away from going after what i wanted to achieve. i did it. reporter: this young man still carries his freshman id with him. for him, returning to in person learning his jr. was difficult after being isolated for nearly a year and a half. >> everyone had to kind of bring themselves out to talk in front of the teacher or answer a question. at the start of it, everybody was really quiet. >> just the ability to communicate was a challenge and this year, this group is so resilient and amazing. >> it finally feels like my hard work has paid off and i can't wait to really get out there

you still had the banks in the u.s. ressure and that fed through in the previous meeting with the european central bank also stressed they had to watch out for both the inflationary pressures but also the financial stability and they saw no trade-off. whether they repeat that line will be interesting to see in the press conference. in terms of what want to watch out for, it is qt to and we know this a twofold decision. if you go softer on rates, the implication issue with hint at an acceleration when it comes to qt. whether she refers to european banks today because of jitters overnight will be interesting. in terms of forward guidance, this has been a central bank that went from explicit over guidance to saying it will take it media by medium. they will look at the data. it is worth noting and watching out for. tom: maria tadeo on the ground for us in frankfurt. let's get more analysis with our ubs, european economist. do they get 25 or 50? >> we think they go for 25 basis point hike and that has been our base case for

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.er voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh... nope. quickbooks helps you manage your payroll taxes. cheers! right now, get 70% off for 3 months. . >>> we have good news, delivered by vice president harris, she made a to talk abou investment in silicone valley. the feds are going to build the largest research and development facility the size of three football fields. >> this facility will essentially be a hub for collaboration, the brightest minds will gather here to share data and expertise, to cooperate, to address the most difficult technical challenges, and to make discoveries that will improve the lives of millions of americans. >> the facility is scheduled to be on line in 2026. >>> all right, california attorney general rob bonta is considering throwing his hat in the rink for the governor's race. he told the chronicle that he has been quote seriously considering running for governor but

this is the 3rd failure of a u.s. bank this year. still, the white house says the u.s. system remains strong. the banking system overalls and stable shape. >> banks themselves are resilient overall. and folks should have confidence that their deposits are going to be there meet them at their pick. >> the president called on congress to pass stronger regulations to avoid more bank failures in the future. one of the great things that we could do with new legislation would be to simply previous legislation. but ej antoni with the conservative heritage foundation says more regulations won't fix the problem. the biggest reason that we're here today is actually government spending. >> and that was anna wiernicki reporting for us tonight. outside first republic branch in millbrae this morning. customers lined up waiting for the bank to open. some had regular banking business to tend to, they say, but others were looking for answers. >> well, we're kind of see what's going to happen. we're not sure what's going on. if it's going to go strictly over the cia's, are there going to

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d.plenty of people will spend this holiday weekend on the water, and with the record sierra snow pack steadily melting, rivers will be running a lot faster and colder than usual. sheriff's deputies have been out on the sacramento river educating people on safety. they say the simplest safety precaution, wearing a life vest, is also the most important. >> the water is going to be a little colder, so when people are swimming out here, the current and temperature, you know, often times there can be a drowning out here. >> even some fishermen said they'll be avoiding the river this weekend because of that. it's so tempting to go in there like i can swim, i know what i'm doing, but it's freezing water. >> and the river is full. >> it is full, exactly. that too. >> the current is even stronger than usual. >>> fortunately, the weather be below normal temperatures, it's not exactly a heat wave where you want to get in the water. >> that's true. >> so let's take a look at what's in store for the

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u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.s become on ar. the us had to deploy hundreds southern border with mexico. the bite and and menstruation sending 1500 active-duty troops to the border with title 42 set to expire next week. turned back migrants because of concerns over covid. authorities expecting a larger research and what our team witnessed with border patrol. ÃÃa texas night. mary bruce live at the white house. the deadly stabbing spree in a college town in california. multiple stab mr. uc davis. at least 2 victims killed. including the student just days from graduation. what authorities are saying

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power. dion: new developments. a popular parenting influencer for the north bay has been found guilty for lying to police. katie sorensen, accused a couple of trying to kidnap her children . that turned out to be a complete fabrication. the video that she made was viewed more than 4 million times , last week she was found guilty of one count of making a false report of a crime and was taken into custody. the maximum sentence she faces is six months in jail. a the fault zone in california today. seven earthquakes shook the imperial valley this morning with the strongest being 4.5 magnitude hitting just after midnight. this is east of the salton s according to the u.s.. it was felt in palm desert, all the way down to mexicali. no reports on serious damage or injuries.driver is recovering fr injuries, when his vehicle fell ovthe sheriff's office releaseda of rescuers rappelling -- video of rescuers rappelling down a cliff to reach them. the car fell more than 500 feet before crashing into a tre

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power.ma: happening now, people are beginning to gather in san francisco's castro district to remember legendary heklina. dan: streets are closed and mun is rerouting the 24 and 35 buses around that area. ama: abc 7 news reporter tim johns as there enjoys us with the latest. hi, tim. tim: dan and ama. that is right to the street here outside the castro theater is definitely starting to pick up and get more likely to die want to show you some of what we are seeing over here. you can see the theater is just finished being constructed here. we are expecting a couple of events to happen throughout the evening. at 8:00 tonight, there will be a ticketed event inside the theater there. that is sold out already. for folks who do not have a ticket, stuff will be happening outside as well. we have a stage you hear them starting to test the music. they have screens here for folks to check out all of these a festivities, which are going to be happening outside. we are expecting that to start around 6:00

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power. (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh... nope. quickbooks helps you manage your payroll taxes. cheers! right now, get 70% off for 3 months. . >>> pga hope is a program that promotes the physical and mental health of veterans through the game of golf. we went out to the golf course here in san francisco to see the positive impacts this program provides. vern glen has this story. >> there you go. [ laughter ] >> veterans in the bay area are finding peace and a sense of humility. >> finally i am happy. i have friends. i can go out and enjoy things and i am not looking for the next boot to fall from the sky. >> reporter: once a week these veterans meet at the golf course. where they learn the fundamentals of the game through a program called pga hope. >> this program, pga hope, is designed to help us with our social skills, with our mental well being, and, i think, for me, personally, i can think of an

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d.er. >>> the nevado police chief is stepping down after just 11 months on the job. johnson says the reason why she's stepping down, she's the third police chief in less than four years there. >>> all right, tonight at 11:00, it is a story you'll only see on kpix. they've been friends and antioch residents for decades. two people, two viewpoints on the city's racist police texting scandal. so let's bring in sara donchey with the late news to explain for more us. >> all right, we talked to two friends. they're long time antioch residents, and we got their take. >> seriously, 2019 to 2022, this was going on? >> it was not surprising. it was alarming. it was great anger. >> we'll show you how the controversy changed their relationship and why they're not giving up on antioch. that's tonight at 11:00. and as you know, this story is really a big deal for the city of antioch and beyond. it's made headlines all over the country. >> it effects the residents. when you have two long time friends w

u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d.r. ♪ entresto is the #1 heart failure brand prescribed by cardiologists. it was proven superior at helping people stay alive and out of the hospital. don't take entresto if pregnant; it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren, or if you've had angioedema with an ace or arb. the most serious side effects are angioedema, low blood pressure, kidney problems, or high blood potassium. ask your doctor about entresto. >>> a look at the oakland coliseum, nbc sports bay area has suspended glen kuiper , for uttering a racial slur on the air last night. the network says glen kuiper will be off the air until review of the incident is completed. he was talking about visiting the league museum in kansas city museum yesterday, but it sounded like he used a different word to describe the museum. about one hour later during the broadcast, glen kuiper had this to say. >> a little bit earlier in the show, i said something, it didn't come out quite

shery: the transaction makes the biggest u.s. bank even larger. sources tell us j.p. rgan was the only bidder that offered to take the entire bank off of regulators' hands in the cleanest way. it acquires about 170 $3 billion of first republic loans, $30 billion from securities, and $92 billion in deposits. the ftse looking to overhaul deposit insurance. regulators have laid out three options including switching to a targeted coverage approach. sources tell us morgan stanley is preparing for a fresh round of job cuts. senior managers are said to be looking to eliminate about 3000 jobs by the end of this quarter. now to beverly hills to join romaine bostick covering the conference who joins us with a special guest. romaine: i am sitting down with the ceo at bny mellon, the oldest bank in the united states of america, on a day when everybody is talking about the stability of the banking system. jamie dimon said it is still very sound. are you seeing that as well? >> i agree with that. we are the oldest bank in the united states. we have been around 239 years. i think as

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u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d.. >>> despite slightly warmer temps, the sierra is still getting fresh power. the sierra snow lab says they got more than five inches of snow over the past few days thanks to clouds and cooler temperatures. the rate of the snowmelt is slowing down. paul heggen has our first alert weather forecast for us today and is going to fill us in! >> yeah, more rain for us and more snow for them. the snowmelt slowing down is good news. let's melt it gradually. eventually warmer temperatures on the way, but that's not the short term. let's look at what the rain adds up to. let's look at downtown from treasure island and get a salesforce we would just a second. over 2.5 inches of rain in the last 48 hours. it is one inch of rain for san francisco now with less than one inch for most of the rest of the bay area, but these are high amounts considering that it is early may . the over an inch of rain for downtown san francisco has vaulted into 15th place on the all-time wettest water year rankings. 15t