On cspan2. The reauthorization of the National Flood Insurance Program. Femas perspective. All members will have five days for extraneous materials to the chair for inclusion in the record. I recognize myself for five minutes for an opening statement. Thank you for appearing today for the second hearing for the housing subcommittee for the 118th congress. Fema plays a vital road through the Disaster Recovery efforts and today well explore the National Flood Insurance Program which existed over 50 years and until recently has operated in the same manner and relied on the same outdated tools since its creation and i just applaud the progress that youre making as flooding in the United States is a significant and costly problem for coastal and inland residents. Unfortunately, theres only one provider for nearly all Flood Insurance and the governmentbacked program which sells in a 93 to 95 of all rest tension Flood Insurance in the country. Thats not just a bad idea from the perspective of
30 minutes into the trading day on this monday. Taylor we look to be a bit directionless. Taylor a little bit of red on the dow, but green for the s p and nasdaq. The rustle up more than 3 10 of 1 . This,f the things driving farm and biotech industry. Gilead is in the s p. Perhaps shum of some of the major averages being pushed up by merger monday. The russell 2000, when we talk about that, it is all about the small caps making a comeback. You can see a little bit of correlation here and in quite a bit of divergence with the s p 500 in blue and the russell 2000 and white. The small caps posted their best weekly gains since june last week, gaining about 1. 4 . Perhaps trying to close that gap. Maybe tax reform is back on the table after we get through the debt ceiling fight. Mergeronday, it is monday so lets talk about a few of those deals we are looking at. Kite andtakeover of the expedia ceo leaving for uber. Gilead has some hepatitis c drugs. Tight is interesting in the Cancer Therap
The rest of europe is open, today. It is lower, falling on the stronger euro, the highest level against the dollar since january 2015. 77 use of the u. K. Holiday, below the the french Advertising Company confirmed the industry slowdown which was signaled by wpp last week abandoning its forecast, clients pulled back agencies slashing spending and prices. The chief executive officer joining wpp inciting a slew of problems affecting the industry, from declining investment by clients, economic downturn in higher Growth Markets and hard bargaining as agencies fight for business. Ad Companies Worldwide are being hit. Shares are little changed on the day. The euro against the dollar rising to its highest level since january 2015. The euro is on such a carrot the moment that it took nothing at all on friday from the likes of mariota johnny mario draghi to drive it to its biggest gain this quarter. The concern Going Forward is it may take precisely nothing again to bring the euro back down. Bu
99 for a case of water, thats the type of price gauging that the attorney general is seeing in the state. Hell join us to tell us how hes cracking down on all that have. And next hour President Trump is likely to address this catastrophic flooding in a News Conference with the president of finland. Well bring you that live as soon as it begins. But we start in texas. Contessa brewer is in houston with the latest on the flooding and Brian Sullivan is in galveston with a look at how Hurricane Harvey is affecting refineries contessa, well start with you. Reporter the bayou has overflowed its banks, normally parkland, and this Historic Building here was due to be completely renovated by fall of 201. As you can see, they will probably have to go back at t. Houston at this point is mostly a ghost town. Businesses shut down, employees stranded there are some 3 Million People who work in the metropolitan houston area most of them i would guess are out of work today because the roads are simply
Obrien all that and more, major funding for the pbs newshour has been provided by bnsf railway. And with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Obrien the crisis in houston deepens by the day, as Tropical Storm harvey lurks just offshore. More than 3,500 people have been rescued, and officials have confirmed four deaths, but expect more. One town east of houston has already gotten nearly 52 inches of rain, a record for the u. S. Mainland. As much as 30 of harris county, which covers some 1,700 miles and is home to houston, is now under water, and more and more is washing into the city itselfg p. J. Tobia begins our coverage. Reporter images of a region pushed to the brink. Torrents poured through parts o downtown houston, as a pair of aging dams overflowed. Rescue crews had worked through the night, with flood victims crowding onto dum