to his. >> he i'm not sure that warren buffett is interested in insuring patients in those counties. that's keet. we need to look at every single american citizen and every single individual across this land that they get the coverage they want for themselves and their family not that the government forces them to buy. >> we'll see what happens in the senate and this very important

from warren buffett in the banking sector. and the banking sector really needs it.innie: you look back and say, of course the banks are going to be ok, but it wasn't so clear at the time on the day. it's a very cleverly arranged a deal with convertibles, to hit the dividend, at a certain number. he's keeping his wells fargo shares. he's not doing anything with goldman yet. this is interesting. >> he tells you, only invest in the things you really understand. it's also through the post stress test liberation for the banks. them a chance to just take off the mantle of financial crisis. >> and that page. rallying the most in two years after the athletic brand delivered a rosy forecast. the company announced it would for a relationship with choppers, a move that would let mx -- amazon an instrument users by its sneakers directly. joining me now is matt townsend. what is a game changer here? matt: nike is making this big bet now, saying we will go more after what they call direct to consumer business. selling touilt off retail accounts. now thye're saying, we want to go

david: your largest shareholder, i think, is warren buffett.l you up every day to say what you should do to increase the value of my stock? or does he leave you alone? kenneth: he is not someone who is on your case about how the stock price is doing every day. he is very focused on making sure you have a unique and differentiated business model. ♪ ♪ david: going forward, what is the biggest challenge for american express? obviously, the world is changing a bit. there are new ways of payment. there is paypal, apple pay, square, other things. what are the big challenges you have? kenneth: i think what is really exciting in the marketplace right now is the convergence of online and off-line. obviously, technology is having a major impact. mobile is having a major impact. form factors are changing. so, 10 years from now, i do not know if plastic will be used at the same level. but i frankly do not care. because it really is the unique business model that american express has, the services that we have. over the last 10 years i have spent a lot of t

of in the world, and i've seen a lot of other things you could do in the world. >> woodruff: warren buffett, thank you very much. >> thank you, judy. >> woodruff: and for the record: buffett is c.e.o. of berkshire hathaway, which owns b.n.s.f. railway, one of the funders of the newshour. >> woodruff: now, a sexual assault scandal that has rocked baylor university, and ignited questions over whether the university ignored the complaints of victims. the school confirmed in recent days that it is also the subject of an ongoing n.c.a.a. investigation. that's the focus of our weekly segment, "making the grade." john yang has the latest. >> yang: more than a dozen women have filed lawsuits against baylor, the country's largest baptist university, saying the school ignored or mishandled their claims going back several years. the school's board of regents has acknowledged that 19 football players were accused of criminal, sexual or physical assault. one of them, tevin elliot, was convicted and sentenced to 20 years in prison. the head football coach, art briles, was fired, and the president, ken st

and, the first part of my conversation with warren buffett: we discuss inequality in the u.s. and america's shifting role in the world. >> we do not have quite the percentage of the world's g.d.p. that we had 20 or 30 or 40 years ago, but we're still the leader. the question is if we can be the moral leader as well as the economic leader. >> woodruff: all that and more on tonight's pbs "newshour." >> major funding for the pbs newshour has been provided by: >> and the william and flora hewlett foundation, helping people build immeasurably better lives. >> and with the ongoing support of these institutions: and individuals. >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: this final day of the supreme court term has revived a controversial item on president trump's agenda: his travel ban. the justices announced they will hear arguments this fall on the constitutionality of the ban. in the meantime, they reinstated a limited version of the order, affecting traveler

it's safe to say these are terms.ive aboutt: give you contacts warren buffetts holdings. so often about his investments here in the united states. he leveragedt is canada? >> buffett tends to invest on a case by case basis. thatd a story that moved talks about the 82-year-old thisr who helped bring deal to buffett's attention. that's what we're seeing here. that said, he does have a history of investing in canada. king'sed finance burger he hasion for merger -- a big electronic distribution in western canada. he's certainly familiar with the country and shown a willingness there.h to invest scarlet: do we know how long how holding on the stakes. how quickly might me want to get out of this once the stock return. at the bloomberg terminal here, home capital it the demise of the company price.s of share is -- is there a point he looks at? >> yeah. he likes the hold stocks for the long term. if you dig in here, i don't think necessarily get the right away. i think we're just going to have on that.nd see julia: i will ask you about something else warren buffett invested in. th

. >> i know about warren buffett. >> not that they are worried about corrupting. >> through. >> that kicks the problem. more money -- a lot have more money than we can ever -- >> of course. that is the general attitude. thank you. thanks for your talk, i enjoyed. [inaudible conversations] >> i have a question. what platform is considered -- [inaudible conversations] >> if you give $10 million to harvard. >> booktv is live from the chicago tribune's printers w

betty: warren buffett launching this year's auction, raising money for the homeless in san franciscogain. haidi: hello, it is just past 8:00 a.m. in sydney. betty: it is after 6:00 p.m. in new york, i am betty lou. maybe there might be inflation in terms of the bids for warren buffett, but there is much inflation in the jobs report from friday which led investors to believe may be the fed will not raise rates as fast as some expect it. we only get one, and it will come later this year. the nasdaq and s&p all trading higher. up 4/10 of 1%, the nasdaq also rising close to 1%. you had tech am, health care on friday leading the games. no surprise that financials took it on the chin. if there is fewer interest rates with tightening. that will not be a great margin for many banks. haidi: the low rate environment globally may be here for longer. but you have this interesting dichotomy. u.s. 10 years at bond rally continue to yielding. they are yielding to the lowest. u.s. stocks near record highs. look at how we are setting up in asia. we had new zealand trading , outside 07%. the kiwi doll

compatible with every older game ever made for the xbox. >> how much would you pay for lunch with warren buffett the top bid was $2.7 million. that's down from last year's record 3.46 million. the anonymous winning bidder can invite up to seven people to lunch with buffett at the stakehouse. the auction in its 18th year has raised $25 million for the glide foundation, which helps the homeless in san francisco. >> we know it well out here. thanks a lot. great cause. >> 4:40 right now. major paving work begins tonight on highway 101 near healdsburg. there will be a cone zone from 7:00 p.m. to 7:00 a.m. for the next several months. >>> people in marin county have long complained about traffic on 101, but a new survey shows they're not helping the situation either. they report most of the resident in the county are solo drivers on the highway. the new poll was conducted by the county for future sales tax measures. they had to show more than 60% of those drivers are alone. >> coming up, the cooling trend continues this morning, but by the end of the week, things will heat up. >> that will we what we

a >>> gates goes shopping with -- >> so guy named warren buffett. >> the mee minds. >> wait a minute.it out. everybody keeps cash under their mattresses. >>> little laila is entranced. >> what are you looking at on that phone. >> the moment she like what is she sees. >> #me. >>> and playing something ca called -- the game that can strike at any time. >> get out. >>> as this red car with the dash cam is waiting to merge onto the road, this camaro goes zipping past. and the driver asks the question -- and i have to be honest it's a question you're going to ask a lot in this video. up ahead that camaro has been slowed down by slower traffic. i don't think he's happy about it. camaro starts doing this. one, two, and the third one, boom. then floors it. as he approaches this intersection, look how close he gets to that truck! just misses in that case. then heavy on the brakes as that white car turns to the light. >> now, what the heck is this guy's problem? >> that's my point. it continues. they decide they want to turn left and they're stopped at this red light. apparently the description

this is out of warren buffett's playbook. a couple of years ago that berkshire hathaway has become his firm, the one 800 number in a market crisis. what we are seeing is an example of that strategy. you have seen it time and again. a wayare structured in that burger happily not only earns a high yield on the debt part of the transaction, but often get some sort of equity in the mix as well, which serves as a kicker. you know, if buffett is right and these embattled firms return greases, they make a lot of money in the process. largest: 34 of the banks cleared the first round of federal reserve stress tests examining their ability for , economic shock. t-tests come next week when the fed will release findings from its competence of capital analysis and review. those test will be watched by investors as they determine when lenders can increase in turn back stocks. >> the numbers look good. calculation and looking at the 34 banks covered. they have according to the fed, 500 of access capital above stress levels. keepare required

in fact, a transcript, here it is, a transcript of the whole interview shows warren buffett never mentionsffett cannot bring himself to say trump and certainly not president trump. never says it. look back at his record. he's all in favor of higher taxes. he won't pay estate taxes on his $70 billion wealth. no, he's going to give it to bill gates' foundation. he opposed the keystone pipeline, how convenient that the oil should be moved on his rail cars instead. he gets a sweetheart deal with the bank of america, the kind not available to anyone else. truth is, mr. buffett is one of the most successful investors of the last three generations. and for that, he deserves our respect. personally, i'd like to see him get onboard with an economic growth plan. that way we could all make some serious money. we could all get richer. by the way, mr. buffett, it's called the trump growth plan. the third hour of "varney & company" is about to begin. ♪ ♪ stuart: all right, you just heard me, warren buffett -- i think he's basically pouring cold water on the trump rally. here to react best selling author

liz: billionaire warren buffett wants single pair. he says government health care is the best and only solution. we have a new guest that says you know what, warren buffett? you pay for it. but first, russia trump campaign collusion, free veteran journalist cnn have now resigned. we have former trump campaign manager katrina pearson here to react.om don't go away looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. welcome to holiday inn! ♪ ♪ whether for big meetings or little getaways, there are always smiles ahead at holiday inn. bburning of diabetic nerve pain these feet... jumped into city life as a kid... ...and kept my town moving. but i couldn't bear my diabetic nerve pain any longer. so i talked to my doctor and he pr

millionaire warren buffett rode to the rescue of canadian lender hope capital.recuperating from a near collapse that threatened to disrupt the property market and a 38.4% stake and about a 1.5 million u.s. credit line. was given. earlier, blerk joe weisen -- bloomberg joe wiesenthal asked alan hibban about the brand value. >> there's no question the brand value of h.c.g. has been negatively affected by this. and the brand value actually of the canadian alternative mortgage market has been -- has been negatively affected by this. it remains to be seen whether -- whether we can recover the brand value. but what i can tell you is even before we did the deal with berkshire hathaway, we were seeing a very strong return to our deposit flows. and we expect that with this stamp on us, that that should improve dramatically from there. in the long run, are we going to be an h.c.g. brand? i can't speculate on that. but for now, it seems to be working. vonnie: joining us from seattle now is bloomberg's warren buffett reporter, we have -- always does a fantastic job. why wou

coming up, lunch with a legend, what you can do to dine with warren buffett, one of the world's richesthero was on a mission to pasave snack time., watch babybel in the great snack rescue. you want a piece of me? good, i'm delicious. creamy, delicious, 100% natural cheese. mini babybel. snack a little bigger. >>> here are the winning numbers from last night's powerball drawing. the power ball number was 25 but nobody picked all six numbers. wednesday night's jackpot is estimated at $375 million. >>> bidding for lunch with warren buffett begins today. he has hosted a power launch for the last 17 years. it donates millions to a foundation, but the minimum bid on ebay starts at $25,000. you'll need to win that powerball jackpot first. last year the winning bid was $ 3.4 million. it begins today and goes through friday. a lot of money there. we have our warriors gear out, and we all have the folks up stairs wearing gold and blue, and lisa, we do have a good weather day for everyone. >> yes, tomorrow and the next day and the next day until we hit thursday. the accuweather seven-day forecast.

that's what we're trying to fix. >> i'm not sure warren buffett will be satisfied that he got an answer to his. >> he i'm not sure that warren >> imnot sure warren buffett is interested in insuring patients in those counties. that's the key. we need to look at every single american citizen and every single individual across this land that they get the coverage they want for themselves and their family not that the government forces them to buy. >> we'll see what happens in the senate and this very important bill that's before them. thanks for your time, mr. secretary. >> thanks, dana. >>> coming up -- inside job. the president's super pac attacking a fellow republican, a senator who says he won't support the bill because it doesn't do enough for poor people. will the million dollar ad campaign work? that's next. >> unacceptable. if you're opposed to this bill -- mmmm. mmmm. mmmm... ugh. nothing spoils a moment like heartburn. try new alka-seltzer ultra strength heartburn relief chews. it's fast, powerful relief with no chalky taste. [ sings high note ] ultra strength, new from alka-selt

to his. >> he i'm not sure that warren buffett is interested in insuring patients in those counties. that's keet. we need to look at every single american citizen and every single individual across this land that they get the coverage they want for themselves and their family not that the government forces them to buy. >> we'll see what happens in the senate and this very important bill. thanks for your time plrks secretary. >> thanks, dana. >>> inside job. the president's super pac attacking a fellow republican, senator who says he won't support the bill because it doesn't do enough for poor people. the million dollar ad campaign work? that's next. wthe million dollar work? that's next. ithe million dollarn work? that's next. lthe million dollar campaign work? that's next. lthe million dollar campaign work? that's next. the million dollar campaign work? that's next. 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

part part one of my interview with warren buffett airs monday night. that's it from aspen for tonight. i'm judy woodruff. >> sreenivasan: and i'm hari sreenivasan. from all of us at the pbs newshour, have a great weekend. thank you, and see you soon. >> major funding for the pbs newshour has been provided by: >> bnsf railway. >> supporting social entrepreneurs and their solutions to the world's most pressing problems-- skollfoundation.org. >> and the william and flora hewlett foundation, helping people build immeasurably better lives. >> and with the ongoing support of these institutions and friends of the newshour. >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. captioning sponsored by newshour productions, llc captioned by media access group at wgbh access.wgbh.org >>> welcome to news room, i'm thuy vu. we're bringing you a special edition of our program, we've taken the show on the road. last week kqed experienced a computer outknowledge because

is thinking of giving dividends to the stock. >> i think we buy the stock because warren buffett isood management we all agree this would be a fabulous stock to own, i can't own individual stocks, but berkshire hathaway is right and i think he's doing a great job let's go to mike in arizona. >> caller: cramer, love your show my stock is quarry infrastructure corp, mic >> i'm going to have to do some more work on this, because all the other infrastructure stocks are doing bad by so i have to do more work. >> caller: jim, send us some texas aggies some better football players >> i'll get to that. >> caller: eight-time season record for three years, and we paid for a half billion stadium, which is reprehensible, if it's not questionable target, tgt. >> i put that the oklahoma stadium is so beautiful. okay, i think that target is okay, i do prefer tgx that has come down is a bye-by a buy, buy and that ladies and gentlemen is the conclusion of "the lightning round. seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the mark

. >>> warren buffett now the largest shareholder of yet another bank let's get todom chu with more ons story and other places where he is a major shareholder. >> kelly, bill, first of thul bank of america has one of the biggest brokerages out there in merrill lynch. a nice segue about the exercise of options warrants factoring in the wake of the financial crisis berkshire gave an investment to bank of make with the understanding if they got to a certain financial point down the line they would be able to convert that stake into common shares that happened and all of a sudden we've got 700 million shares that berkshire hagt away under warren buffett owns. that makes them the largest shareholder in b of a and has a value of $17 billion it's interesting because you have $12 billion paper write-off profit right off the bat it's not of course the only company that buffett has a massive stake in berkshire is a major share holder in a number of different companies. kraft hines, over a quarter of that company is berkshire hathaway american express he is a big investor that 17% stake they have

we will talk about warren buffett's return to banks.m new york, this is bloomberg. ♪ ♪ are watching bloomberg markets. still ahead, the commodities close. upde oil closing up, closing for a seventh straight day, above $46 a barrel. the agriculture department is out with its latest report on crops, so we will look at core and soybeans next. new york, this bloomberg. -- from new york, this is bloomberg. ♪ ♪ from bloomberg world headquarters in midtown manhattan, this is bloomberg markets. i am scarlet fu. commodity markets are closing in new york and we have to start with oil because it is advancing for the seventh straight session, the longest in advancement and gains for half a year. a drop in u.s. crude production and gasoline stockpiles are weighing some confidence that opec supply cuts might be working to reduce that but -- glut. ore, that has rallied into a bull market for the end of the quarter. higher grade iron ore is the most in demand. something lighter as we head into the fourth of july weekend, let's look at this chart in the

finally, looks like an interesting day for warren buffett.ome capital, the troubled toronto-based mortgage lender is getting a lifeline from warren buffett. he has become a lender of last resort for the company, agreeing to buy shares at a deep discount, providing a credit line. something he has done for some of the big financial companies in the united states, but he's buying a big stake for the equivalent of 300 u.s. dollars for the company. some of the shares have been bouncing on that. remember, berkshire hathaway is the largest stakeholder in that company, rising after cutter airways said they were seeking to acquire a stake that would equal his. intending to invest $800 million. those shares up almost 2%. rent: i want to talk about . we are back about $45 per barrel, up 1% on crude, but it is the bear market in wti and brent that has been dominating all markets for the past couple of days. the stoxx 600 is weaker on the third day, heading for the worst three-day drop in a month. in terms of the worst performers earlier it was the energy

warren buffett -- he will be able to get over a $600 million tax break because of this bill. it is possible to get the democrats and republicans to work together in one room, as you say, and ban something out? caller: of course it is. listen, as a born and raised new yorker, i believe that representative schumer hit it on the head. get a room, get everybody together, and craft out a bill that is fair and reasonable. ok? that is what needs to happen. we do not want to rush this thing and have mr. president either be ashamed of signing it or signing a bill that is all ut and zero' inp democrats. that is not the way our democracy has been put together. >> grant and humble, texas. republican caller. caller: this is going to be the best -- they are going to eventually get the votes. i'm very confident about that. trump will make amendments. it will get through. entitlement reform, we are $20 trillion in debt, if we do not start doing entitlement reform, the country is dead. i get a kick out of democrats talking about spend, spend, spend. there is no money to spend. we have to get

warren buffett was on tv yesterday saying he does not aally need his tax break gives tax breaks to wealthy people and then cuts it for millions of americans. they need to put that aside and work with democrats to improve the exchanges. any cuts to medicaid exposed byuests -- democrats. you have a lot of colleges make in the point that even today it is hard to get some providers to provide services and then they turn around and say let's cut it even further. the reality is medicaid is one flexible current as you and andy were just discussing, most of the money goes through folks who are in nursing homes. and then people with disabilities. host: if medicaid is off the table for you, where are you willing to discuss the reforms? point out during the campaign, donald trump said he's not going to cut medicaid. the reality is they fundamentally slashed medicaid. in the exchanges, many of us have put forward. i believe we should have a .ublic option it would create more competition in nature everywhere in the country you had at least one insurance plan and the congressional budget office says tol

the hug was -- >> notable >> making theresa may's hand holding looking like a small factor. >>> warren buffett the president's time in office last night on pbs news hour when asked whether the president has something to do with the run up in the stoke. here's what buffett said >> the stock market has been going up basically since march of 2009. that's when it hit the bottom. it's been going up more or less since then if i ever become president, i don't want to be take iing blam for what goes wrong. sprint is in talks with charter communications and comcast over a potential wireless services deal the "wall street journal" says under one option comcast and charter would invest in sprint's network in exchange for favorable terms to cell service using the carrier's network. back in may there was a wireless truce that barred either company from doing a deal without the other's consent. sprint shares in the premarket are lower. charter communications higher. it complicates the t-mobile/sprint speculation. it's unclear that -- the "journal" mentions one possibility is charter and comcast would buy sp

has to do with warren buffett. just breaking. rkshire hathaway will exercise warren's options to own bank of america. bar remember buffett will buy 700 million shares. >> that's how many of the warns he held. he was saying at within point he would exercise them if the price was at a certain amount. bank of america just doubled the dividend for the common share. he's probably getting a better deal on the dividend, i would guess. >> and he becomes the largest shareholder in bank of america >> he's been breaking out the warrants in the annual report for several years. just talking about how -- why this is such an important stake for berkshire hathaway, i bet it's because bnk ank of america doubled ets d ed its dividend >> he owns a 6%, converting that to 700 common shares would you view this as a sign of confidence >> are you ready for this? as of wednesday's closing price, he has a paper profit of 11$11. billion. >> wow on that transaction. >> he's not bad at investing >> no. i heard he's pretty good at that >> think about this, you

by bank of america, warren buffett absolutely right. lauren: atom, so good to see you.thank you very much. cheryl: he did call than banks by the way. he was on that. scandal at the vatican as one of the pope's top advisers is charged with sexual assault. we will have the in a disappointing debut for blue apron. pricing starts way below what investors had. you are watching trendsetting. -- "fbn:am" ♪ today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have

. >>> an anonymous fan of warren buffett agreed to pay 2$2.7 billion to have launch with the oracle of. million, excuse me the money goes to glide, a charity that gives food, healthcare and other services to the homeless and people struggling with substance abuse. >> huge kudos to him and the person making the donation on the flip side, just make sure for free you can watch when warren buffett joins "squawk box. always outstanding >>> coming up, more fallout from the uk election plus today's must reads >>> and later we're setting you up for the big week ahead on wall street. futures now pointing lower again. tech also lower again after a big selloff on friday. that's expe we're back on "worldwide exchange" in a few minutes looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. >

i just go with warren buffett. why? what am guying to do, argue with him?hat's never been a great call >>> i'm helping you form the necessary investing strategies you need at all stages of your life today from old to young, i'm going to meet you where you are and take you where you need to be on "mad money" tonight, we're beginning in the crib. forget binkies here are the two stocks you should be buying to give a newborn a much-needed head start. and teenagers have a lot to learn, but there's an important investing lesson everyone can get from them, as well plus, from your 20s to golden years, by guide to where your money should be sitting at any age. stay with cramer >> don't miss a second of "mad money. follow @jaiimcramer on twitter. send an e-mail to mad money at madmoney.cnbc.com, or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. y ♪ at johnson's we care about safety as much as you do. that's why we meet or exceed 15 global regulations for baby products. and where standards differ, we always go with the toughest. johnson's.

why would warren buffett taking be taking a stake in this mortgage lender? such a large one? imple answer is that he got a price he was interested in. this is straight out of buffett's playbook. he said a couple of years ago that berkshire hathaway has become his firm, the 1-800 number in a market crisis. i think what we are seeing is an example of that strategy. he has done it time and again. these deals are structured in a way that berkshire hathaway not only earns a high yield on the debt part of the transaction, but often get some sort of equity in the mix as well, which serves as a kicker. you know, if buffett is right and these embattled firms return to investors graces, then he makes a lot of money in the process. jonathan: 34 of the largest u.s. banks cleared the first round of federal reserve stress tests, examining their ability to withstand economic shock. the key tests come next week when the fed will release findings from its competence of capital analysis and review. those test will be watched by investors as they determine when lenders can increase dividends and

want to have lunch with warren buffett? now is your chance. his annual auction for charity is open on ebay. in the past 17 years he raced nearly $24 -- raised nearly $24 million f the homeless in san francisco. last year's winning bid was almost $3.5 million. the winner gets to bring serve friends to dine at the steakhouse in new york with warren buffett. michelle: nice. no happy meal here. an iowa woman lost her patience waiting for her fast food. take a look at this. video captured by a woman in a drive through at a mcdonald's. you see the woman there. the blonde woman, there she throws something at this woman. she was upset her mcchicken was taking too long. she throws a sandwich back at the manager's face. a fight breaks out and her friends egg her on. >> life's too short to get that mad over a chicken sandwich. michelle: the two men hold employees back as the woman pulls the manager's hair and knees her in the chest. eventually they are pulled apart and the customers leave before the police arrive. jonathan: she had a mctemper tantrum. mi

what you can do to dine with warren buffett. one of the world's richest men.ut it's going to cost you. >>> and here are the winning numbers from last >>> here are the winning numbers from last night's $337 million powerball drawing. 3, 9, 21, 41, 54 and the powerball number 25. nobody picked all six numbers. wednesday night's jackpot is estimated at $375 million. and bidding for this year's auction for ailun much with warren buffett starts today. the billionaire businessman hosted a power lunch for the past 17 years. the annual fundraiser donates millions to san francisco's glide foundation. the minimum bid on e-bay starts at $25,000. last year's auction tied the record with a winning bid of $3.4 million. bidding begins today and goes through friday. >>> next on abc 7 mornings at 6:00 a.m., gearing up for game 2 of the nba finals. the one kevin durpt and the warriors are -- whap they are expecting them to do to each up the series. >>> the thirdter i don't remember attack. i'm ariel resch he have. i'm have how police stopped the suspects. keep on giggling...ica

. >>> and then the auction to have lunch with warren buffett is up to $2 million and the proceeds coming to san francisco. >>> and then the first gender neutral gym. neutral gym. how it aims to set a new so now i'm not being perky, telling you that drivers that switch to progressive save an average of $548! whoo! i mean, whoo. [ inhales, exhales ] [ announcer ] cigarettes are not just dangerous when they're smoked. [ rat squeaking ] they're dangerous long after. cigarette butts are toxic. they release chemicals that poison our water... and harm wildlife. and millions... are polluting our environment. [ sniffing ] [ seagulls squawking ] >>> now a live desk update. >> it's 5:13. we have stunning video that just came into the live desk. watch this, it's from illinois. a bunch of hot air balloons being lunched until of wind came and slammed them into each other. and one person got hurt and had to go to the hospital. we are hearing they are expected to recover. fire department officials say the pilots did the right thing and it's really amazing that more people were not hurt. >> is that just

. >> warren buffett launches this year's auction, raising money for homeless in san francisco. >> thiss "bloomberg markets: asia." we are live from bloomberg's u.s. and asian headquarters. it is just after 7:00 a.m. in hong kong. some breaking news crossing the bloomberg. south korea current account balance coming in, shrinking for dollars, a9 billion dramatic drawdown from may, close to $6 billion, also revised down to $5.7 billion. that surplus is widening as well , close to $11.9 billion. there are signs the south korean economy is doing well. exports rising coming inflation picking up, so we will see how korea reacts in about one hour. those meantime, devastating attacks in london over the weekend, days away from the u.k. election, so we will see how this will impact the outcome. will terror dominate what happens on thursday. bull in thed to be a market knowing so much uncertainty lies ahead. check out equities futures, how they are trading right now, this is the market close on friday. the futures right now are , ading a little bit lower touch lower, not a lot of volume on a sunda

even warren buffett has a major stake in what happens after the bell today.s got a 16 billion-dollar stake, to put a fine point on it. adam shapiro is in washington with more details on how mr. buffett will benefit and how perhaps other investors will. >> that's correct. and depo warren buffett, the key's going to be the word object or do not object. because remember, the federal reserve doesn't say fail or pass. you and i would say fail or pass, that's how you say it in english. but if the bank is okay with the capitol plan, they will not object. no deal for you, as they say at the soup kitchen. here's the deal with warren buffet. he bought in 2011, what was it? a $5 billion stake in bank of america preferred stock, and he had at the time a warrant that allows him to turn that preferred stock and purchase roughly -- what is it? 700million shares of common stock at $7.14 a share. now, do the math, liz. this would take his investment from 5 billion to $16 billion. and look at where they're trading right now at bank of america. the stock at $23 a share. but it'

buffett the warren other day. in 1960, corporate taxes were 4% of gdp and now they are 2% of gdp. all you talk about is cutting to cutor the -- you need it for the middle-class. health care was around 5% of gdp. it is now 17% of gdp. we spent a trillion dollars a year? this is what gets me. talk about this, sir. $.33 of every dollar is wasted in our health care system and is warren buffett says, it is not our tax system. it is the health care. host: another very big topic this morning, health care. linkage,lk about the part of the reason the corporate tax collections are so low is the corporate tax code is broken. what corporations do is just move their capital offshore. even apple, an american institution, they have moved all their intellectual property and licensed it in ireland. all the global tax we, unlike tax globalies, earnings. companies create separate entities and create revenue outside. if we had a simpler tesco, we will move from 37 or 38th of the 39 developed countries, we are near the bottom. that from the system we have today, the system that is in the republican bl

what you can do to dine with warren buffett. one of the world's richest men.ng to be cheap. it's been awhile since you first knew. there's something very different about you. you have the power to make your marshmallow wishes...come true. you can make your marshmallow wishes come true by winning one of 10,000 boxes of only marshmallows. find your code in special boxes of lucky charms. they're magically delicious. >>> here are the winning numbers from last night's $337 million powerball drawing. 3, 9, 21, 41, 54 and the powerball number 25. nobody picked all six numbers. huff got another chance on wednesday. estimated jackpot is 375 million bucks. and bidding for this year's auction for lunch with warren buffett starts today. the billionaire businessman hosted a power lunch for the past 17 years. the annual fundraiser donates millions to san francisco's glide foundation. the minimum bid on e-bay starts at $25,000. last year's auction tied the record with a winning bid of $3.4 million. bidding begins today and goes through friday. don't think i'm going to win th

. >> still to come, would you like to have lunch with warren buffett? >> i would. >> would you?would. >> i'm going to tell you, peggy, how you can do that. i hope you have your checkbook with you. >> i feel it's out of my budget. >> right after this. what if there was a paint... ...where each drop was formulated to be smarter... ...even smarter than that... ...so if a color didn't go on evenly, it would balance itself out to reveal its truest, richest state. if a paint could realize the fullest potential of any color... ...you have to wonder... is it still paint? aura interior from benjamin moo®e . only available at independently owned paint and hardware stores. >>> all right. so, we're debating this right now. how much would you pay to have a power lunch with warren buffett, the billionaire investor is once again auctioning off his time to raise funds to combat homelessness in san francisco. >> over the years, buff et has raised nearly $24 million for the glide foundation that is run by glide memorial church there in san francisco. last year's winner paid nearly 3 1/2 million f

. >>> happening right now, bid something opening to have lunch with warren buffett. >> this is the 18this at a power bidding ends friday at 7:30. >>> east bay high school drama school got a dubs boost in their efforts to finance a trip. the skyline high school drama class performed to rave reviews throughout the area, and they have been invited to the high school festival theater in scotland. the trip cost $28,000, and the students have one more week to raise it. and the warriors held a raffle at the game. >>> let's talk about what is going on over the water today. we will start with the bay and the delta. small craft advisory. 24 to 38 miles per hour, and over the ocean, it's going to continue to blow until at least 9:00 tomorrow, and in fact some of our beauies are strong winds. across the street from oracle, we came up about a run short. 64 to 68, blue jays in town to take on the athletics. and then the highs and lows, 109 and 33 are our extremes. one of the driest months, 0.1 of an inch. >>> a four-vehicle accident blocking the left lane almost to the san mateo side of the bridge, h

we discussed everything from ibm's cloud initiatives, personalization of watson to warren buffett's sale of a big chunk of ibm stock earlier this year and the company's multiple comebacks from adversity check out this two-part story of a leader in a challenging business at a challenging time, from ibm's watson center in new york city. ginni, i don't want to bury the lead you were at the white house yesterday. >> yes >> what did you talk about and what can ibm do for our country? >> look, this is a part of a series of meetings we've had about modernizing the i.t. in our government there's so many opportunities. it's about modernizing the systems and my, we work in many of them. we do much work in dhs, we work around things like the veterans administration we're helping our vets using watson, sequencing the genome. but it was a day not about what any individual company did, but ideas on how to modernize the i.t. that runs the country, and then i participate, and you know i've been quite focused on how for a country we have got to work on our skills and prepare not only this current generat

i went to the annual work for hathaway meeting and warren buffett said the u.s. is spending 17% of its gdp compared to the european and canadian care.ng of 11% on health that has a greater impact on our corporations than any tax reforms for corporate income taxes. does anything in this proposal address the overspending and health care overall system itself? in other words, lowering 17% to 11% like the rest of the civilized world. host: alex bolton. guest: i don't think so. discussedat has been much. passed incare was 2009, there was a lot of talk about ending the cost curve and that is what the president talked about. they talked about reducing how much we spend on health care. one of the big things they come up with -- came up with was the cadillac tax, a tax on expensive plans and i was supposed to bend the cost curve because it provided disincentive for insurers spending tons of money on these goldplated plans. interestingly, that is the one obamacare tax they kept in place. i think republicans bought into that theory. it doesn't get implemented until 2026, so

. ♪ emma: warren buffett's berkshire hathaway will swap $5 billion of bank of america hurt stocks toommon shares. those shares are worth roughly $17 billion. the is they announced it would raise its dividend by 16%. stock sixquired the years ago. shares of like you rising in premarket trading. they delivered a rosy forecast. nike will now that amazon and instagram users by its sneakers directly. sales are expected to rebound in north america where a deed us as seen a resurgence. andr is cutting its sales profit forecast. the consumer health division is also is not performing as well as expected. shares drop by the most in eight months. alix: we want to start with what's moving in the premarket. steel stocks. ak steel up 1%. u.s. steel up 2%. there is a report that says some aresors and president trump hell-bent on imposing steel range tariffs, in the 20% , and that could extend to things like paper, aluminum, household appliances, semis, etc. all the antidumping terrace we have from china still not enough to make the steelmakers profitable. yesterday was categorized by the big slowdo

bank of america, warren buffett is happy man we talked about in last hour. citigroup, 8.0%. 6.0%. morgan stanley 7.9%. wells fargo,.4%. this is really -- 7.4%. no objections from the staff to the capital plans from the big banks. last year, of course there were objections to some of them. i want to read to you why they're taking issue with capital one. this is from the report. quote. notable weaknesses were identified in the oversight and execution of capital planning practices undermine the reliability of forward-looking assessments of capital adequacy under stress. specifically the firm's capital plan did not appropriately take into account potential impact of the risks in one of its most material businesses. they won't tell us what that business is. so the bottom line, everybody passes. the other headline, expect some big dividends because they're going to be paying out as an aggregate, 100% net revenue. whereas last year, it was 65%. cha-ching. melissa: adam shapiro, thank you. david: bring in former sec chairman harvey pitt here to join us, as well as "wall street journ