The transports to record highs again today. Plus the grocery wars are heating up again. This time walmart is making a newing a b decision to go after amaz amazon very interesting a lot of people in new york city are very excited about it. Well explain coming up in a little bit. Good for brooklyn. We start with our top story right now, executives from two scandalridden companies have been meeting facetoface with lawmakers on capitol hill today. Cnbc cnbcs wilfred frost has the highlights of the wells fargo hearing, about millions of unauthorized accounts opened by that company and aditi roy has the latest on the exequifaxs ceo, the attack that compromised the data after more than 145 million milliamericans. Aditi, start us off. Reporter former equifax ceo Richard Smith was grilled for close to three hours by about two dozen lawmakers. As he headed out of the hearing, i asked him about the breach he remained tight lipped eped a walked past our cameras. Gave an eight page remark before he
Private equity on track for a record year fundraising, we got the woman in charge of Goldman Sachs clients, alison mass, her first tv interview ever. Very much looking forward to that. Lets begin with the top market story with the equities pulling back on new details about Congress Tax Reform plan. Ylan mui has the latest on what could be a delay in its implementation ylan kelly, republic b cans considering phasing in the reduction of the corporate rate according to bloomberg news. Under this plan the rate couldnt get to 20 until 2022 one word of caution here, the tax bill is still final yet. 20 corporate rate is one of president trumps red lines in this debate. White House Press Secretary Sarah Huckabee sanders appeared to throw cold water on the phasein idea this afternoon the president laid out his principles and doesnt include the phasing in were sit committed tothat moving forward, but, and i dont have any reasonable the reason this is even coming up is republicans have a revenue
Street this is the last week of the month of the quarter of the first half of the year. Thats true doesnt feel like it. Later than its ever been. Investors are paying close attention to whats going on in washington right now in the next few hours were told the Congressional Budget Office is expected to release its scoring of the Senate Health care bill. We will bring you that news as soon as it happens and talk about whether the bill is doomed if it ends up closing too much costing too much. How many people are dropped from the rolls. Exactly all the other same problems that faced the house bill. Yes. Well get to that. Speak being of which, they are trying to pass it before july 4th and President Trump is set to meet indias Prime Minister at this hour to strengthen economic ties between the two nations. What it means for American Companies doing business in india is coming up. The Prime Minister is scheduled to arrive there in 30 minutes. Is the restaurant recession showing any signs o
1. 4 hang seng was up, and the kospi up in europe, things are relatively flat. Dax is down. And the cac is weaker. Crude oil prices on a tear this morning it is up again with wti trading. Can i say hello to everybody. We havent been all together awhile, kind of nice comfortable pair of loafers im wearing sneakers today. Theyre more comfortable than loafers. I dont feel like you have to do much to look better i can come in. Sneakers and no socks this is like sweatpants, when seinfeld wears sweatpants, youve given up. Let get you to the morning headlines. Heres whats going on in Corporate News peltz fighting for a board seat at prak tore and gamble. Theyll launch a proxy battle. Hear about it within moments my expectation is hear about it coming across the sec with a filing in a moment the move would make p and g the largest to face a proxy contest. Last week they rejected the request to name mr. Pelts a board member he is one of the biggest shareholders, second biggest roughly holding 3
Well debate whether this type of promotion can give the fastfood giant a boost like all Day Breakfast did. Tesla set to report earnings after the bell among others. We have a Hedge Fund Manager who says that stock is the single Biggest Company stock bubble going right now. An under the radar story, how judge judy is looking to make hundreds of millions of dollars off reruns. You have to hear this one. Coming up. Judge judy. I guess people would binge watch that. Funny you should stay that. Starting with President Trump and the federal budget. Eamon javers at the white house with a recap of the meeting today. Weve got cameras into the meeting to see the top of it. We saw treasury secretary Steve Mnuchin and Jared Kushner gathered around the table. He gave us a hit in terms of what general direction he is going. Here is what the president had to say earlier today at the white house. Unfortunately, the budget that we are inheriting essentially inheriting is a mess. The finances of our cou