profitability problems with the vw brand itself. this is changing now. he is restructuring the company, cutting costs quite aggressively, which is not going down too well with, for example, labor counts, the trade unions here in wolfsburg, but after a rocky start this year, things have eased down a lot as the head of the labor union here are getting along with each other a lot better. so the key theme for vw is pushing profitability up towards the target or levels seen by competitors. of course, cost cutting is very high on the agenda. with that, back to you. >> annette, thank you very much for that. appreciate it. i'll let you get back to the actual agm which is going on behind. >>> coming up, a senate battle looms as the house of representatives passes a bill to repeal and replace obamacare. has trump effectively pulled the plug on obamobama's landmark legislation? more on that after this short break. >>> welcome back. the bank of japan's governor has said the output gap is shrinking and the labor market is tightening. he began by talking about the imp

it has been costly for vw, and that has not run its course.even try to put a figure how, when this is over, how costly this could be for the auto industry? reporter: altogether, it is a little soon on that. $2t chrysler or maybe billion is what is estimated on the fines that if it is fully prosecuted, could go higher than that. estimated $24.5 billion, that is the latest total. assuming the chapters all the things still hanging out. they have a few cases left. they have not had any major cause, we will see how they went through the legal system. mark: the credibility of clean diesel technologies certainly has been damaged, jamie, beyond redemption or not? very challenging, and there will have to be a breakthrough to make diesel competitive again and produce it in a clean way. we find the thing about vw was they seem to have the performance that was so unbelievably better than anyone else, and it turned out it was better because they could not be believed. the others seem to have had systems in place whether they did some things wrong, there wi

rear-ended the vw beetle.he tour bus had 55 people on board. one person just had minor injuries. and the driver of the beetle passed away on scene. >> i'm sorry. i think mike and i might have the same question. was there an element of the driver of the tour bus perhaps having the sun in his or her eyes. you're driving eastbound into the sunrise there. >> yeah. the way -- i mean coming up is slightly uphill in the eyes. and the driver of the bus did not see the beetle come to a stop. >> the beetle was on a complete stop on the interstate in traffic? >> we don't know why he was at a stop at this time. we're not sure if it was mechanical issues or anything but they had come to a stop in the number 2 lane. >> is it accurate to say -- are any of the lanes open on 580 going east? yeah. in that location there are four lanes going eastbound. we have the three left lanes closed. at this time, there is no estimated time for opening. time for opening. so there's going to be a lot of traffic out there. we're trying to get

if this is the uk market showing cracks that could be a concern and the vw brand you pointed out. overall the vw group not among the worst performers, but the namesake brand they've been trying to turn around was off about 14%. so i think over at wolfsburg they would like to see that number higher. >> i also wonder to what extent this is down to people actually leasing cars or using uber, ridesharing apps. i don't own a car, do you? >> i don't. i use a lot of the ride hailing apps, but living in london that's a different story. outside the metropolitan areas, car ownership is essential. you mentioned the leasing. we talk about those who may now be buying used cars, used car sales have come down, that's raised concerns for finance arms of the carmakers. i don't think it's an immediate turn when you talk about those going to ridesharing, car sharing. the autonomous cars, it is coming. it's just when it will impact the sales. >> thank you very much for that. >>> we will go for a quick break. do check out world markets live, our blog which runs throughout the european trading day. we'

. >>> the money is on top of the more than $1 million that vw previously agreed to pay for investments has acknowledged that its cars were programmed to turn on emissions controls during testing and then turn them off while back on the road. >>> u.s. and european officials today decided to table talks on whether to ban laptops on flights from europe to the u.s. the decision came after a meeting in brussels between homeland security officials and representatives from the european union. both sides shared information about ai -- aviation threats and detect -- [ indiscernible ] >>> bart said they fixed a problem that caused blackouts. on april 22nd passengers at the montgomery station in downtown san francisco were left in the dark. five days later the same thing happened to our richmond station. they say they did a inspection and found emergency lighting was not working at a total of 14 stations even though reports indicated otherwise. >> we started replacing the batteries so their permanent systems are working and then we have done a complete overhaul into the process of documentation,

andh vw and bnp paribas novo nordisk. three stocks to keep an eye on.s is bloomberg. ♪ guy: let us talk about where we think we are going to open. it will not be a particularly dynamic start. very much a market driven by earnings. market of stocks rather than a stock market. let us talk about what the headline numbers look like. up by less than .1%. similar story for the ftse. cac not moving. dax not moving. -- it comes to some of these individual stock market. i am told by people who know more about it that vw was not a nzrprise, but allia was. certainly beating on a number of key metrics. we will watch and see how that open -- that stock opens as well. the political risk and policy risk is still there. andce coming out, remember, the fed tonight. let us libor that. let us show you what is going on. this is the picture, as you can see. just a little bit of a downwards sense of direction for the ftse 100. we said it would be absolutely flat. that is where we will be, but not by much. were the ftse is. the pound has been down overnight. down by .3% on th

the car she was in is a brown vw pass passat, registration number ng brown vw pass passat, registrationber mg 11 bmz. it was last seen heading towards the chad well heath area. the police say the man who took the vehicle is described as asian, aged in his 30s with short, dark hairand a asian, aged in his 30s with short, dark hair and a dark beard. he was wearing a dark jacket dark hair and a dark beard. he was wearing a darkjacket with white fur lining on the hood and green trainers. now detectives from waltham forest police are leading the investigation and they say anyone who has any details as to the whereabouts of the girl or the car they should get in touch with the police and call 999 immediately. so police and call 999 immediately. so police in the metro poll tan area of london are saying they are urgently trying to trace a six—year—old girl, who was in the back of a car, driven away by an unknown man and the police have issued a photograph of the girland any police have issued a photograph of the girl and any more on this, we will bring it to you when we get it. labour leaderjer

>> at this point, it is apples and pineapples with vw.as discovered by the west virginia researchers and a confession was already extracted by the california regulators. bw had a knowledge that they only operatee to their filters during the testing. therethat, and the epa -- that's redoubled their efforts -- redoubled their efforts to find anyone cutting their corners and the trial lawyers did the same. ,hey brought the cases sometimes they inspire the regulators to get involved, and happen here. until there is a regulatory issue, there is difficulty seeing traction behind the claims. scarlet: jim came out with a statement as well. they said the claims are these and we will vigorously defend ourselves. all epa andth regulations. julia: jamie, you said the key will be whether the regulators .ill decide to investigate what precipitates the regulators to think it is a big and of issue or concern that they need to investigate? >> it depends on how much it is out of line with what is excepted or allowed. also, what is the reason? companies can

a confession and they announced september 2015 vw is cheating and we caught them.een so different because the clock was running out on the obama administration and the epa said we are pretty sure these guys have some software here that is not acknowledged, not disclosed and we are notifying them of the violation and fiat chrysler went ballistic. they were very upset. here we are months later and still no revolution, -- resolution, but another deadline is this -- several consumer lawsuits are being brought together in a california court tomorrow so the epa and justice are filing today in detroit to try to get their case added to that one. >> general motors has been hit with a class-action lawsuit. the suit alleging the carmaker put deceit devices in trucks to beat emissions tests. volkswagen admitted to installing software to bypass rules. will gm try to fight this or will it admit that this alleged cheating did happen and try to settle? >> g.m. is fighting back very hard and right away. they put out a statement calling the lawsuit baseless, noting that there vehicl

. >>> vw finding itself the target of a new scandal and not the one you're thinking of.ng the ignition and pressing the gas on a whole new avenue on his crusade to level the playing field on trade. a man who knows a thing or two about trade negotiations, former commerce secretary carlos gutierrez in a fox business exclusive. what he says about the president's review of germany's auto industry and one trade move that has this former ceo's thoughts percolating. "countdown" is coming right back. don't go away. will you be ready when the moment turns romantic? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop t

that would mean vw pouring out 20% of its profits. in the future, it could reach 30%.is some comfort to shareholders but another sign the diesel scandal has far from blown over. >> price war has claimed yet another victim. a german panel manufacturer says it plans to file for bankruptcy. they blamed the decision on price erosion in the solar sector along with its debt burden. solar world has invested heavily in solar powered mobility. it employs nearly 4000 people. german manufacturers have complained about being undercut by chinese competitors. the us trillion government has unveiled the new budget for 2017. and in it, the big surprise for the five biggest banks in the form of a tax increase. the treasury hopes it will raise 4.5 billion u.s. dollars over the next four years. bankers say it will only put investors off. >> estoril you has enjoyed uninterrupted economic growth for decades. the end of the mining boom has undercut revenues in recent years. cash raised by the new bank levy is intended to help balance the budget and pay for public spending. scott morrison sa

the alameda county deputy who was killed was riding in that vw beetle. you can see the extensive damage to the back end of it. it's pretty much destroyed. investigators say this bus contracted by tesla slammed into the car near grant line road. no one on the bus was hurt but the deputy riding in that car was pronounced dead at the scene. minutes after the crash, chopper 5 caught this. the first responders had draped an american flag over the deputy's body then then stand back and salute. just about an hour ago, chopper 5 was overhead as a procession was seen heading westbound on 580. law enforcement officials bringing the deputy's body to the coroner's office in oakland. you can also see there were other local law enforcement on the overpass paying tribute as the procession made its way down the freeway. finally, at the coroner's office, officers could be seen hugging embracing each other, grieving the loss of one of their colleagues. tesla sent out this statement about the crash which reads in part: again.. we are awaiting a new conference by law enforc

w tries to repair its -- as vw tries to repair its reputation. >> woman who appears to be the victim of carjacking. in one second she is filling up her car, that i can jumps into her car to take off. she jumps on the hood, and hangs on. he tries to get her off by throwing her. doesn't work. finally decides, eltek the purse, phone, -- i will take the purse, phone, and anything inside. she is left to get her car to stop as it is rolling into the street. finally she gets it to stop but admits this wasn't the smartest thing that she had done. >> glad she wasn't hurt. some video tonight, some more video. how did that happen. a cheap sticking out of the second floor of a building in wisconsin. even the tow truck driver was baffled. no one was hurt. police said the driver was not drunk or on drugs. but she was cited for inattentive driving. >> the most expensive text she has ever sent. isthe man known as dr. beach out with a list of the best beaches in the country. no local beaches made the cut. it was in the best oth followed by kapalua bay. beach in the outer banks made it. you can see th

vw was found guilty of rigging its software to make vehicle emissions look cleaner than they actually of coffee mugs because if you put coffee in them, they might break. the recall affects 15,000 of these chalk mugs. they get their name because you can draw on them with chalk. however, you actually pour a hot drink into the mug, it might drink and burn. pier 1 has eight reports of cracked mugs. no reports of injuries, thank goodness. you should return the mug to the store for a full refund, or just stick to drawing on it. >>> wal-mart is known for low prices. as soon as grocery prices may drop even lower. wal-mart has a rival discount chain rival. the chain is known in europe for luring customers in by offering them fresh food at low prices. wal-mart says it's planning ways to compete by reducing some prices, improving store brands, and speeding up check-outlines. the german chain is expected to open 150 stores in the united states starting back east in virginia. >>> now i want to hear from you. my hot line is open weekdays from 10:00 a.m. till 2:00 p.m. my number 415-954-8151. you ca

you know, the upshot of all of this, between vw and the way that they have gone after other diesel, it'sn a marginal player in the market for years and it just looks like it's going to be almost gone. except for in use in big trucks. vehicle fuel, mercedes had their applications held up by the epa, which kept asking questions. but they hadn't done this sort notice of violations on older models, so mercedes just dropped it.they said -- forget no one really expects them to as long as the rules stay as they are and maybe more automakers will follow that path. scarlet: all right, jamie, we will be continuing to watch for headlines on this company. commodities trading near one-month high before the opec meeting on thursday. ministers meeting to discuss extensive production cuts. we will be monitoring. this is bloomberg. ♪ scarlet: this is "bloomberg markets," i'm scarlet fu. .ulia: and i'm julia chesley lawmakers on the ways and means heard test of occasions on the border adjustment tax. something that retail has been pretty vocal against. 97% of all of the apparel in the u.s. comes through o

he was heading east on 580 when a commuter bus carrying tesla workers smashed into the back of his vw bug. it appears khin slowed down or stopped immediately before the crash. >> sun and the weather and road conditions we will take into consideration. >> reporter: chp officers at the scene draped an american flag over his body and saluted him before coroners escorted his body to their office. >> i would like to give thanks to the highway patrol for treating our officer at the scene with dignity and respect. >> reporter: we are deeply saddened by reports that there was a fatality as a result of the sent. we will len any support that we can to authorities investigating the incident was in the statement tesla released. >> unfortunately, in addition to all they have to deal with at working they have to deal with the loss of one of our brothers. >> khin would have turned 51 tomorrow. the sheriff's office is seth up a memorial fund to help support his family. ian cull nbc bay area nye news. >>> the man convicted of murdering sierra lamar must now quen the jury his life is worth sparing. ear

remember when the first diesel scandal came up with vw. expert that told us all car committees do the same thing. are we seeing that statement come true? >> to a certain degree, yes. it is hard to judge from over here, but we did get more and more cases. and in the u.s., people and never really wanted so much h te diesel vehicles in the first place. wall street is taking those allegations quite seriously and it seems authorities have done the research for quite some time. it will not be easy for fiat chrysler to convince the justice department otherwise. the stock has dropped by a good 4%. general motors on the other side gaining 1%. gm is much heavier invested in electric vehicles, so at this point that seems to be the trend, and notot diesel. >> think very much for the analysis. -- thank you very much for the analysis. back to you. brent: here is a reminder of the top story we're following printed british police have named -- we are following. british police have named the man accused in the bombing from last night in manchester. he is s

federal judges ruled yesterday affected more than 88,000 vw's that were rigged to pass us emissions test. the owners will be in line for compensation. that will range from $7000 to as much as $16,000. it will also qualify for repairs or buybacks. >>> it looks like pg&e rates will be going up. the state public utilities commission voted yesterday to increase gas and electric bills by 1% this year. that comes to about $1.65 per customer. that money will be used to upgrade infrastructure at various sites around the state. the rate hikes are scheduled for 2018 and 2019. >>> it is 4:46 am. they bay area housing market shows no signs of slowing down in its growth. thanks in part to first-time millennial homebuyers. real estate agent say many house hunters in their late 20s to mid 30s have been flocking to the east bay in particular. they are typical -- they are typically tech savvy shoppers who have an agenda. they want to be close to transportation and some good restaurants. they want good cell phone service and good internet reception. this new generation of buyers is great for sellers but n

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restaurants that deliver for themselves but executing that last mile fulfillment for them, making sure that vw is available everywhere. >> delivery, as a percentage of overall orders has increased an you're getting a much bigger percentage than the other guys. >> the growth that we have seen, it was actually dramatic in our second tier markets, tier 3. we saw 2 x growth than we did in tier one. the big metro areas that we have been in for a long time. we see the accelerated growth and that's because our product keeps getting better, the diner ordering channels but also the delivery and the delivery helps expand our geographical coverage so we have more restaurants in more markets so when we do that national fly over advertising,e. >> most people thought the competition, whether it be uber, or some of these other companies, they're all doing okay. but it turns out to be, if you just did this, if you did food in your first mover, it's more sticky than we thought. >> once you start ordering online, you recognize it's so much easier, so much better than calling the restaurant. and so whoever's the

i think it is interesting we are going to see vw and daimler get in on it.ing toe europe double battery making to make ends meet and try to take on the likes of tesla in america but also china and asia which dominates battery making. emily: caroline hyde lave in london. david welch with us from detroit. thank you both. another story out of europe today, the european union is investigating general electric for possibly providing misleading information during a merger review. according to people familiar with the case, regulators are looking into whether g.e. misled e.u. officials examining the deal. g.e. has not commented on the news. last week, the e.u. find facebook for misleading behavior . how good has president trump been for media companies? we will pose that question to mike thompson next. a feature i want you to check out. our new interactive tv function on the bloomberg. you can watch us live. if you miss an interview, you can go back and check it out. you can send our producers a message. you can play along with the charts we bring you on air.

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gm says the environmental damage could be worse than that caused vw case.says their claims are baseless. owners of luxury homes in manhattan are accepting reality. if they want to sell, drop the price. this year, the median asking price has been the lowest in at least five years. new york's top end market is overflowing with properties, and sellers are finding discounting is the only sure way of clinching a deal. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. i am paul allen. thanks for that. our top story, opec's output extension failing to impress the markets, but russia's energy minister told bloomberg that there is room for more action. alexander novak sent cuts could be prolonged further if necessary and that russia is more than prepared to do its part. >> well, the market has always had a rising or falling, it happens all the time come at these fluctuations. what is important is that we took a fundamental decision returnould lead to the of the investment appeal and the secto

gm down 2.3% after the company was accused of using vw like defeat devices so the diesel trucks couldon tests. this is the 6th automaker to be accused of that. up look at sears holdings, after the retailer did post a profit, a surprise profit, the first time in two years. investors rewarding the shares. and -- jewelers down. the worst decline since august last year, missing a quarterly earnings report in a huge way, by 37%. bb plus.ng to now we look at oil. trading near session lows. this after opec did extend the supply cut deal for nine months until the end of the first quarter of next year. i did speak with our bloomberg intelligence strategist who says that mrs. -- this is sell to news action. the past between 45-55 couple weeks and now they are taking profits. analyst agrees, we see the weakness in the energy complex, especially for some of those drillers. transocean, marathon, and others, you can see that they are down in a big way. these are the worst percentage performance for the s&p 500 energy sector. in the middle we have e and p names. the drillers are at the end of the en

bmw, vw at 13% and in terms of what's brought into the u.s. and is sold here from german automakers, you're primarily looking at your higher end s sedans and sports cars and that's why you have the trade deficit you're looking at now just under 850,000 were imported last year that work out to just under 5% of all the u.s. sales. that's what you're looking at in terms of immorted vehicles from germany and now let's talk about the plants in the south, vw, mercedes, bmw. they are expanding their operations. german brand plants built just over 800,000 auto last year. a good portion of those, by the way, have been exported. so that does help in terms of z u.s. he can ports. this has become the base for suv and crossover sales or manufacturing and sales around the world. take a look at shares of daimler and general motors. we're going back to the election of president trump roughly trading in tandem, if you will, when you look at these two and, guys, this is going to continue in part because not just with the trade deficit in germany but, remember,

the bottom line is that to join or continue in the vw pnks, a country cannot represent a threat to the united states and must be work as a partner to prevent terrorist travel. the committee has contributed to the strengthening of the visa waiver program through its leadership and developing the vwp. i'd like to take a moment to highlight several important changes that have resulted from dh s's> implementation of the act. we've increased the sharing of identity information. several countries have increased the frequency of lost and stolen pass ports being reported to interpol. all vwp countries now are issuing and using for travel to the united states fraud resistant electronic passports that meet or compete international standards. enhanced restrictions on travel for people who have traveled countries of certain concern or dual nationals of particular countries. monitoring and process to make sure they're meeting program requirements. these assessments are performed in cooperation with the state department and other interagency partners as well as the intelligence community and the gov

many other automakers have been victim of these kinds of allegations, some of them paying out, as did vwllars in fines. gm now down by 2%. and you can look throughout the industry, not as automakers themselves, but the auto supply makers seeing weakness. american axle trading lower. the auto rental companies interestingly taking a hit, but they have been trending lower as of late. avis budget down in the neighborhood of 2%. i should mention the declines mean that the automakers are getting cheaper. take a look at the bloomberg. we have the price to earnings ratio of ford in blue, general motors in yellow, the backdrop are the auto sales in the united states which have been choppy over the past several years. we now see the call makers -- car makers above where they were in mid-2016, but nonetheless over the past several years it has not been frequent that you see price-to-earnings ratio the major 7 for automakers. david: thank you very much. and president trump spend the day in brussels visiting the new headquarters for nato. he addressed members of the alliance. now we will bring in nic

you see daimler, bmw, vw, that's how many they sell in the u.s. built in the u.s.y are expanding production in the south, talking about bmw's plant in south carolina and mercedes one in alabama, vw in chattanooga. they are expanding, running at capacity, but building suvs and crossovers, and, by the way, many of those are exported. they built more than 800,000 vehicles last year. you can expect that number to increase this year with volkswagen adding a new suv to its plant in chattanooga. those are the numbers behind the trade deficit with autos in germany. >> which, i mean, some of this, phil, is a well known. we have known germany benefits from the cheaper euro, autos are a big source of exports, so it states the obvious here. the question becomes, is there a retaliation in this? does this become wrapped up in u.s. policy of some kind? >> before you answer, let me say, and i know i'm criticized for this, but there's no guarantees anywhere, and everybody does what they feel is best for them, and when you have a trade deal or not, there's no guarantee that you're g

. >>> all right elsewhere today, does general motors have a vw problem?suit accusing gm of having so-called defeat devices on some of its diesel pickup trucks which would allow them to fake out emissions testing? joins us from chicago, phil gives us the details on what gm said about this. >> well, gm basically thinks this is an opportunist lawsuit. these are lawyers who found gm truck owners who have diesel engines who will join in to a class action lawsuit at a time when a lot of people are questioning the validity of the emissions that are coming out of these diesel trucks. not just gm trucks but all diesel vehicles. this lawsuit alleges that there are 705,000, 2011 to 2016 diesel engine pickups built by general motors that have defeat devices in them. we reached out to general motors. the company says these claims are baseless and we will vigorously defend ourselves. the diesel complies with all u.s. epa and carb emission standards. guys, i'm not surprised that we saw this type of a lawsuit being filed, given the fact that you have a number of investig

think of vw. >> this is different from vw in the regard it's a civil class action lawsuit.is not brought by the epa or by a federal agency like the doj. here's what this lawsuit involves, and, by the way, some of the lawyers involved in this have also been involved in other class action suits like general motors and other auto makers in recent years. essentially, they are accusing general motors employed defeat devices software in the diesel engines of the heavy duty pickups, ones with the duramax engine. gm accused of using the software on 705,000 vehicles. they said they got the number by adding up the number of vehicles, those types of trucks sold between 2011-2016. in response to the suit, gm said the claims are baseless and we will vigorously defend ourselves. it complies with the usepa standards. despite denials, shares are under pressure from 2% 2.5%. this is being brought by private attorneys. this is a civil suit of the. this is not bought by the doj or epa. shares of volkswagen, going back to september 2015. that is when volkswagen said, you know what? we cheated

a commuter bus carrying 51 tesla employees from the fremont factory to stockton rear-ended the vw beating of khin crushing the car. that portion of 580 was closed from 7 a.m. to 2 p.m., delays nearly two hours, backing up traffic for eight to ten miles. tesla said they are sad and all employees on the bus are unharmed and accounted for. the driver was an independent contractor. >> it's reverse commute. traffic is driving faster than in the westbound direction. there's sun in the horizon. there's all types of factors involved. >> reporter: he had been with the department for ten years. he leaves behind a wife and four children. tomorrow would have been his 51st birthday. of course in cases like this criminal charges are always a possibility. but none have been filed at this point in time. the sheriff tells us that bus driver is cooperating with authorities. live in dublin, susie steimle, kpix 5. >> a few months ago the alameda county sheriff's department lost another deputy mike foley. in february, he was hit and killed by an inmate bus while work telling santa rita jail. the same jail whe

when a commuter bus carrying tesla workers smashed into the back of his vw bug. it appeared he slowed down or stopped on the highway right before the crash. >> there's sun on the horizon, all types of factors involved, with weather, roadway conditions that will be taken into consideration. >> reporter: chp officers draped and american flag over khin's body and saluted him before deputies escorted his body to the coroner's office. >> i like to give thanks to the highway patrol for their service to our employee at the scene with dignity and respect. >> reporter: the bus driver was not cited but the investigation is ongoing. tesla released a statement saying in part, we are deeply saddened by reports that there was a fatality as a result of the accident. we will lend any support that we can to authorities who are investigating the incident. >> besides all of the events and incidents that our deputy sheriffs have to deal with at work, they have to deal with the tragic loss of one of their brothers. >>> it is just shy of 7:08. we have much more ahead on "today in the

and the settlement ends most of the legal battle over the vw cheating scandal. >>> a controversial work. tonight at 11:00 dan ashlnoyes the i-team, what they found and what the park service has to say about it. it's a story you will only see here on abc7 news tonight at 11:00. >>> who would think an avocado is dangerous? what people are doing that is injuring them. >>> how far would you go to cheat the carpool lane? we will show you the outlandish attempt one bay area driver took to skip the commute. >>> do not skip this. >>> do not skip this. so now i'm not being perky, telling you that drivers that switch to progressive save an average of $548! whoo! i mean, whoo. ♪ sweet cinnamon-sugar on the outside, crazy on the inside. crave those crazy squares. ♪ sweet cinnamon-sugar on the outside, crazy on the inside. crave those crazy squares. >>> 5:53. if you have state farm insurance you might have money coming your way, it's a share of a refund settlement. more than 241,000 customers will get a cut off of after the rates were found to be excessive. they are issuing refunds with interest for

. >> according to chp he was driving this white vw eastbound on 580 after 7:00 a.m. when he slowed down or stopped on the highway for some reason. a commuter bus with 51 tesla employees onboard slammed into the back of the car. rush hour traffic backed up for miles while investigators tried to determine a cause. >> there is sun on the horizon all types of factors involved with weather roadway conditions that will be taken into consideration when we put together what happened in the collision. >> the bus driver has not been cited but the investigation is ongoing. today tesla release add statement saying in part we are deeply saddened by reports there was a fatality as a result of the accident. we will lend any support that we can to the authorities who are investigating the incident. the sheriffs department says there will be a fund set up for the khin family but the details have not yet been set up. reporting live in dublin, michelle roberts. >> thank you. >>> this is the second tragedy for the sheriffs department in the past few months. another deputy was killed aft

vw is the latest german automaker to report better than expected results both daimler and bmw had strong demand in the earnings replaces but shares off by a little more than 1%. >>> allianz confirmed guidance for the year but says market volatility and low interest rates will continue to present headwinds for the company. net profits came in line for expectations for the first quarter. operating profits beat forecasts. shares up by a third of a percent. >>> we'll go for a quick break. still coming up on the show, business leaders are gathering in berlin for the b20 summit. we're live at the event after this short break. if you want to stay on top of your health, one simple thing to do -- is take the pledge to go and get screened for the cancers that might affect you. so stand up to cancer and take the pledge at getscreenednow.org it only takes a minute to take care of yourself, and nothing rhymes with "org"... >>> welcome back to the show. it's fed day. the fed is expected to keep rates steady when policymakers begin a two-day meeting. steve liesman has more. >> i want to get to what the

it claims the environmental damage could surpass that of the vw the eagles.he sees interest in europe for international investors. they present a buying opportunity. >> it's an awful thing that and you sit there as an investor as opposed to somebody who is actually working in the system, you actually benefit from politicians messing things up. was a disastrous decision. business, it's a great decision to give yourself opportunities. i would far rather be making money from those opportunities. taylor: he says an uncertain political environment is pushing british businesses to sell. francine: thank you so much. oil is back in positive territory after the biggest slump in three weeks as opec will the late cuts for nine months. manus cranny is in vienna. great work yesterday. i know you caught up with the ministers. was there too much priced in? were they hoping for a lot more and opec couldn't deliver? delivered,ink they they did not deliver more. if you look at this symbol i am holding, are they a credible threat? are they all in for the long haul? there was a

speak to mike but unlike vw, they are not admitting it. >> the dow gains 43, the s&p's i had four, the nasdaq is up five. >> the 2018 budget delivered toy by the trump administration is already dead on arrival. it includes a steep type tonic cuts to intima program's, and not enough military programming for some. it is a balanced budget in ten chief congressional correspondent mike emanuel gets thoughts from capitol hill. >> this is the president's 2018 budget. the name on the cover is the new foundation for american greatness. >> president trump's $41 trillion budget blueprint arrived on capital. it would include $200 billion for infrastructure, $2.6 billion more for border security, and $19 billion for a new parental leave plan. this proposal suggests more than $600 billion in cuts to medicaid, although candidate donald trump pledge not to touch entitlements. while some lawmakers would like to know if they have the power the purse, house speaker paul ryan praised some of the points. >> at least we have some common objectives. we are on that common ground, and we will have a great deba

. >> in the case of vw, we saw the civil claims, and those ran up the tally. do you not think that history will repeat itself in the case of fiat chrysler? >> it's difficult to say. as we were talking about this morning, the latest revelation that the volkswagen ceo is now being looked at, an investigation about market manipulation. it's not just the fact of defeat devices and what they knew, but it's the fact should they have disclosed to shareholders earlier. it's too early to make those comparisons. one thing we can draw from this is the issue with diesels going forward. they're not a huge part of the u.s. market but it raises questions about the future in europe. >> nancy, thank you very much for that. that was your last hit here in europe. you'll be off to singapore soon. >> yes, taking a break. i will be back on in singapore shortly at the end of june. >> was a pleasure working with you here in europe. we'll be seeing you across the screens as of july 1st, i believe. >> yes. very much looking forward to it. >> enjoy your long holiday or whatever you're d

last year's vw sales were depressed by the admissions cheating scandal. markets today, stocks up. the dow jumped 36. s&p 500 rose 3. nasdaq finished i had 4. we are awaiting a decision from president trump on whether the u.s. will continue to participate in a worldwide global warming treaty he criticized during the campaign. doug mckelway tells us tonight the animosity in the climate change wars is hitting new lows. >> in 191, climate skeptic john christy got a metal from nasa. last week, he got seven bullet holes in his office window. police think it was random. john christie thinks he was targeted. he measures earth temperatures from satellite data. he is skeptical of predictions of warning. >> simply put, we can't say with any confidence to you or the american taxpayer that by adopting policy x, we will reach impact y. >> "wall street journal" opinion writer experienced doubts on man-made global warning. >> the guardian called him a hippie puncher. readers complained and some threaten to cancel subscriptions. it is in this political climate the president who called global warmi

you see there on the left was carrying more than 50 tesla employees and it slammed into that white vw beetle that you can see is just mangled on the side of the freeway. for some reason that beetle was stopped in the middle of lanes, according to investigators. the alameda county sheriff's deputy riding in that beetle was killed and the chp captain i spoke with a short time ago here at the scene told me that for him and if for other members of the law enforcement community this deadly crash really hits home. >> it affects the whole community. law enforcement community and the people passing by. they saw an american flag and they're seeing it on the news. a part of everybody died today. >> reporter: now this accident happened about 7:00 this morning as that charter bus was headed from tesla's headquarters in freemont out to stockton. the tesla employees who were on board had apparently just finished working their overnight shift and they were headed home for the day back to the stockton area on board that bus. now according to the chp the driver of that bus may have been blinded by the

when it became clear to chp the driver of the vw bug was a deputy, they covered his body with an american flag and then two chp officers saluted his body in a sign of respect for his service. i spoke with an alameda county sheriff's sergeant who was clearly broken up by the news of this colleague's death noting this was the second deputy killed within a month for that agency. we should be learning more about a noon news conference scheduled at the chp. the bus was hired by tesla to carry employees to stockton. the electric car company reads a statement that reads in part, all it tesla employees that were on the bus are safe and accounted for. however, we are deeply saddened by reports there was a fatality as a result of the accident. we will lend any support that we can to the authorities who are investigating incident. chp does not know when this accident scene will be cleared. you can see in the back of those headlights that's eastbound 580 traffic heading over the altamont into tracy. whenever they do have the scene cleared that backup will be cleared in time for the afternoon commute.

. >>> last year, it was the vw thing, where they were accused of cheating on the emotions tests, he was appointed to facilitate billions of dollars of settlement discussions to hand out payments to volkswagen owners. selected for a similar role earlier this year when the airbag tata was seen to cheat on their safety tests and linked to injuries and 16 deaths worldwide. what a terrible things, call bob mueller he will sort it out. once again, bob mueller is being called on to function as an independent party. this time he has to quit his law firm job to do it because this time the law firm director will be taking over investigation into the president of the united states. tim, our historian and author of "enemies a history of the fbi" and awarded reporter. what do you think? >> i think the presidency just got a chance of saving itself. >> bobby mueller the 3rd, three things people say about him. he was a marine, awarded the bronze star for valor for personally leading his troops under fire and rescuing a terribly wounded soldier on enemy lines. he's going to personally rescue this case,