>> so the dollar continues stronger. i know you didn't say the dollar, but if the dollar continues stronger to the end of the year does that provide an additional head wind to multinational companies at this point? >> it's a function of how much of the kitchen sink they've thrown in in talking about the dollar. and if you noticed, when they talked about fourth quarter earnings they all lamented the dollar. and second quarter the dollar spent most of the time down. you didn't hear much about it. they might have already gotten those expectations right sized. i don't know if we know yet. >>> time for the final trade for friday. let's go around the horn. >> buy the tlt, this is not a major move because i think rates can hold these levels but again you own it here, play it down, do about 225 to 220 on the ten year. >> dan? >> i have to wish a happy birthday to a lucky woman, different of the show, my mom obviously. >> oh! happy birthday! >> how do we top that? >> you can't. cisco, we were talking about it earlier. if you see

honored to have mayor ed lee here to present the city's budget for the next 2 hundred and 50 millin dollar years mayor ed lee welcome floor is yours. >> thank you good morning, everyone. >> good morning. >> thank you supervisor president london breed and budget and supervisor mar farrell and members of the board our elected the officials and commissioners and department heads and labor our wonderful community leaders thank you very much for being here and thank you all for being such a great partner in helping me deliver to the people of san francisco a balanced budget that sets our city up for lesson lasting success. >> our city's budget is a reflection of our values and we're making historic investments to make sure our city remains save solvent and successful a city in which everyone what prosper it was just a few short years ago we were suffering from an entrenched economic recession maybe double digit unemployment and massive shortfalls and forced to make very hard discussion i random those along with many of you did not heads as well but today thanks to our budget discipline our smar

the second item, item 15 is where we are seeking a 4 million dollar loan from the [inaudible] fund blajs to community choice aggregation program clean power sf. this would allow us to begin to provide service to customers in the program, to bill them for that service and receiver fraiment the service. we expect that process between beginning service and actually receiving payment for that service to take about 45 to 60 days. this 4 million dollar loan for working capital we are seeking from the [inaudible] fund would fund those early months of the program. we expect by may of 2016 we would be in a position to repay those loan funds and begin to bay that back. the loan we are seeking is charged the county wide pool rate and will be able to complete repayment by 2016. >> colleagues any questions? mr. rose can we go to your report >> yes, object page 13 of the report we note the requested release of 2, 200 million dollars will pay for part time [inaudible] that is 5.25 fte's and one technical program and one out reach program for program budget of [inaudible] shown in table 1 and that is on

new zealand dollar headed for its biggest day of losses against the dollar. where are we against 2011 september? i will break it down in about 10 minutes time. let's get the stock movers with caroline hyde. caroline: we've been talking about the government offloading its stake in rbs. this is one of the biggest movers today. it has been cashing in and the u.k. government sending $.15 up half of its over all stake. it is all about reducing its exposure to this and sending 150 million shares. the price with a little bit of weakness. interesting from the mansion house speech. coming to the market with royal bank in scotland shares. george osborne did not mention that the bank levy is weighing on some others this morning. of course it will not be that all of branch extended to the banking industry. they will not the railing back on some of those bank levies pushing it down. that came as a little bit of a disappointment to the shareholders. it looks like levies will not be reducing their banking in the u.k. anytime soon. a sudden pop in spot -- stocks. alpha bank

dollars to the biggest needs that is how we are working i understand there's a priority to make sure that the programs and services are continued for the families and i know that in working with any city sister departments we're going to make that a happy it is going to take a little bit more time. >> there's quite a few people coming to my office and asked this question about work orders i sort of understand is semi understand it try to explain maybe that would be helpful to myself 0 fully understand the general public comment what do you mean by work order and how do work orders what's the benefit. >> sure so i have a slide it is up on the screen right now it shows our 3 largest work orders in the city through the department of public health this is primarily for health and mental health recommended services we send our money to the department of public health within our department we don't have experts in managing the mental health program it would be nice to have social workers on site but we don't we the evidence will then show that work case and leverage the ability to draw dow

dollar-yen on your screen, up by 1.3%. the biggest drop for dollar-yen this year. off the back of the governor's comments from the boj saying that is enough weakness are now. the problem is -- weakness for now. the problem is what he says is one thing and what he does is different. this morning, a lot more to come. let's lift the lid on some of the stock indexes. ryan: surprising and interesting stories this morning. bayer agreeing to sell its diabetes business the panasonic health care. buyers of bayer very happy. intertec, the world's largest clothing retailer. profits came up 28% above what it was for the same quarter of last year. clearly investors looking for more. finally, the shares are up, despite the fact that like for like shares are down 3%. it is better than the rivals. it is all about the competition. the discounts between the higher and and the midmarket. sainsbury's investors saying not great, but better than your rivals. jon: thank you very much. here in britain it is that time again. a year ago, bank of england governor mark carney lit a fire of sp

we are asking for 130 thousand dollars. thank you. >> thank you very much next speaker >> hi, my name is [inaudible] i am a instructor at the sylvan learning center of robotics teacher and coding but i came here as a homeless youth immigrant and lgbt. from jordan the middle east. for me i am here to represent the transitional youth. when i first came here i came here without a home, without anyone to know and the first building entered was the lgbt center and over there i was able it get connected to many services like larken street, hi 5 rfx lyric and a few other services and during my time i had to live in a shelter, i had to actually also live on the streets for a couple of days. it was really hard and i was also a [inaudible] and during that time it was really hard, i needed these services and someone to help me out and needed someone to give me a place to actually sleep and without the transitional housing programs and the connection from the will ask gbt center i wouldn't have been able to sleep or find food to eat be

dollars. the dollar is another wild card in the market. because key one profits were signific impacted by the dollar's strength. we've had some dollar weakness here in q 2. i think the impact is going st dissipated. it still is a head wind for many of the companies, especially the larger names in the s&p 500. >> those are just a handful of the concerns that are facing investors. the reason why many are trying to plan for recent market volatility in weeks ahead. night busines report i'm dominick chew. >> the battle to build the next generation bomber is heating up. there's 55 billion at stake. some of america's biggest ♪ >>> the house of representatives voted to renew assistance for american workers hurt by trade. the aid program would have expired f the senate already passed the worker aid bill which now goes to the president for him to sign. > consumers are loosening the grip on their wallets, persona which measures spending on everything from autos to health care rose at its fastest pace in six years, up a% from may a month earlier, th

adam: what you see is essentially euro-dollar has come back to be dominated by general dollar ratio. the market came to the conclusion yesterday that the greek issue has been dealt with although we will get any amount of headline noise over the next two or three days. over the weekend, i think markets have come squarely to the conclusion that the issue has, for the short term been dealt with. we are looking at general dollar direction as the driver of the euro. mark: do you share the opinion that the dollar believes that greek is sorted out? is that premature or is that now taken as a given? adam: i think that is probably the right conclusion. there are stumbling blocks. today's meeting, tomorrow's summit, greek parliament, debate over the weekend, the vote on sunday and monday. i think the right assumption is all those hurdles will be cleared and we can move on, as they say, at least in the short term to look for new direction. that is basically going back to watching the u.s. data, payroll numbers next week in particular debate whether or not the fed rate is in line with who hikes

we fund a lot of other services that we fund with local dollars and other dollars that we have access to >> okay >> the reason why we don't include it is every time you include a expenditure there comes a reporting requirement so wree try to be as strategic as possible about how we allocate our federal and state dollars >> i do go to the senior lunch regularly and i do contribute 2 dollars and all most everybody does. does the city have oversight on the money collected? how are they spent? >> yes, the city-we allow the sites-linda maybe you can am up here and you will be more articulate than i, but we allow the sites to use those dollars towards their program but i do believe that we have access to what the dollar amou we know-we are able to look-i know at certain groups of people who we may not get any donations from and other groups we get a lot of deinations from. it is just of interest to us, there is no hch a problem that occurs from that but it helps in terms of planning to have a sense of how much is coming in through the donation. linda you want to- >> my name is linda [inaudi

the dollar seems to have peaked versus the dollar. mondelez's double digit earnings growth will become very impressive if the euro makes a rebound versus the dollar. and those constant currency numbers become real numbers. let's not forget. noted activist nelson pelt has a nearly 3% stake in mondelez. i think many of the margin gains are to eliminate corporate overhead and focus on improving margins. he won't stop until the margins exceed those of its competitors. that's why we recommend stocks when pelts takes a long-term position.z takes a long-term position. the bottom line is i think mondelez now has what it takes to go higher. even if peltz's dream doesn't come true. mondelez has been cutting costs and focusing on its power snack brands. and the result is that the company would have truly phenomenal growth if it's not for the insanely strong dollar. but if you believe, as i do that the dollar has peaked then perhaps it really is time for mondelez to break out, and this move isn't the end, but the beginning of something that can l

dollars. recognizing not all taxpayers are compurtd savvy we serve [inaudible] to insure successful compliance with business registration renewal. we responded to over 25 thousand 311 service tiblths to make sure peoples question get answered and address. this year we implemented property tax program which brought in [inaudible] we are also working to bring counsel to the service programs like the cities work force training eft, the public housing and we do this in partnership it [inaudible] oewd and cities housing authority. i'm proceed to say the kindergarten to college program hit a mile #1230e7b where families 7ed 1.2 million of their own money for childrens college education and half of these families saving are qualified for and receive the federal free or reduced lunch program. in fact, we are doing all this by vg our department budget-we are not having a proposed increase in the budget for each of the upcoming 2 budget years. in fact, our budget decreases in both $2 budget years. in fa

dollars. this is a net zero adjustment covered by reduction and fringe bfts and other savings and will not result in increasing our budget. as i wrap up and want to thank the committee for rently approving the budget related items including the appropriation for flooding claims and over time cost. i aumsh r also want to summarize the pending puc items before the committee today. we are requesting 2.17 midcycle adjustment for fiscal year 15, 16 budget to cover new service instullation, salary and flood water manment program. we have 2 separate items today related to start of capital to launch the community choice aggregation program, the supplemental [inaudible] for 4 million dollar and reserve of 2 million dollar. ument to thank you for the support of these items and cce program. i'm happy to consider any questions >> thank you mr. kelly. any questions at this time? can we go to your report on 12 and 13 mr. rose >> mr. chairman and members of #c34i9 er committee on page 5 of the report the puc

they are spending millions, billions of dollars. been iname time, we had the documents that every time there has been a bidding process, there were allegations of bribery. blazer said that he was involved in at least two conspiracies, qaing for russia and potentially those are uptar. in the air. on twohis has been going decades, according to blazer. what are the chances that this probe, cleaning house, will really do the trick? depends on what we are talking about. fifa seems to be a synonym for lots of things. if we look closely at the indictment, this is corruption and at the world of international football. basically, in south america, north america, that is what is in the indictment. if we look at history, there was corruption in africa and asia. this is global and international. takingl administrators advantage of the popularity of the game and the ridges it brings and trying to -- riches it brings. how will take a look at these organizations are run. alix: thank you. and you are watching bloomberg market day. ♪ emily: hewlet

billion dollars 5 year response fund that will deliver more than 10 thousand 7 hundreds permanently affordable low and middle-income affordable housing that's why we need the housing accelerated fund to attract and secure private sector investment in affordable housing ladies and gentlemen i know we can do all of this together we must continue to build housing that's affordable to people across you'll protect spectrums in order to generate the revenues to build every o even more affordable housing over the next 2 hundred and 50 millin dollar years new market rate development is anticipated to generate more than hundred million dollars in affordable housing fees that can be put to work to insure sites and build housing throughout the city with the success of how city we have a special opportunity to insure the prosperity of our city extends to all the residents i believe this is a balanced and responsible budget that not only security guards vital city services and affordable a budget that keeps our city save and solvent and successful we'll continue to invest in the diverse neighbor

where we are in terms of dollar repeats. 6371. dollar-rupee will fall further. probably to the 66 level. dollar-yen. you have dollar-yen a broke 125 level for the first time since 2002. we come back a little bit. the dollar strength may update or it will find it harder to take its momentum higher. the yen is the second worst performing currency in this second quarter. of the d10 currencies. it is down about tree .6% over the past quarter. we have dollar rising, yen falling in the last three months. only the new zealand dollar was a worst performing currency in the d10. anna: let's get some more detail on that r.b.i. story. the bank of india. they are announcing their decision to cut their benchmark interest rate. to 7.25% from 7.5%. there talking about further easing depending on the strength of the monsoon. the monsoon, oil prices, external volatility -- all are risks at the moment. those are well known factors heading into that decision. the monsoon season is expected to be a dry one. this is the second year in a row that there will be a dry monsoon so there i

to your report >> yes, object page 13 of the report we note the requested release of 2, 200 million dollars will pay for part time [inaudible] that is 5.25 fte's and one technical program and one out reach program for program budget of [inaudible] shown in table 1 and that is on page 13 of the report. on page 14, we note that the puc will transfer existing position tooz had cca program of which 4 fte's are [inaudible] power, capital project positions that is off budget and 1.25 are paid from pec operating funds shown on table 2 of the report. the recommendationerize on page 15. we recommend you file 1506491 to place 4 million on reserve until the date the funds are needed for energy pure curement. we also request you release [inaudible] of 2.2 million request on budget and finance reserve and place the remaining balance of [inaudible] pending the filling of vacant positions of the cca program and that is file 150506. wee >> supervisor tang >> i want to ask puc staff their thoughts about the budget analyst recommendations. 15 would be on controllers reserve so it wouldn't have to go back it

my promoted budget also includes significant capital improvements including 2 hundred and 50 millin dollar $6 million for hybrid buses and light rail vehicles and $6 million in street and pedestrian safety projects to move the city closer to vision zero of eliminating traffic failed by 2024 we're also insuring that muni remains assembly with our programs so for seniors for people with disabled and our youth and if we're going to talk about affordability we must talk about affordable housing and housing that be affordable to lower and middle-income families that promotes equality and economic environment that are the correspondence of our trying city you must know everyday i work on this issue and everyday i challenge my staff to do more to work with the community, to confront our city's crisis the demands with aggressive action that's why in 2012, we created the housing trvd that will invest over $79 million in the housing development and neighborhood stabilization and more we've been working hard at the state level to insure that san francisco what build the housing through the previous r

for each dollar for the qualified film production costs not to exceed $4 million by july 1st, 2009, provides water the rebate practicum up to that time noted exceeds $6 million from the controllers accounted for film rebate programs and the project and the rebates e beats shall not be paid from other legal financing only to those qualified low budget qualified film instruction that and honor after may 20, 2006 and recommend we approve that ordinance as recommended. >> thank you, mr. rose why not open up for public comment to item one, if there is anybody that wishes to comment on item one we'll line up against the wall the gentleman with the scarf. >> hold on a second if you want to line up on the side wall everyone will have two minutes. >> supervisor farrell and supervisor tang and anything else it we thank july 1st. >> sir we're not talking about muni item one. >> okay. thank you arrest hi, i'm dana location manager worked on 4 projects blue jazz man a low budget first time feature by a san francisco native twitter i've worked on both seasons of looking just to echo susan robin's

dollar. but later in the day president obama responded to those reports at a news conference. here's what he said. >> i did not say that. and i make a practice of not commenting on the daily fluctuations of the dollar or any other currency. >> that didn't really help. since the news conference the dollar's only continued to head south. does the currency market believe what the president said? dennis gartman is the editor and publisher of the gartman letter. dennis, you think he said that, correct? >> yeah. i bet he probably did in fact say that as an offhanded comment. i can't imagine that a french official would have spoken to the press and said even anonymously that the president had made a comment such as that without the president having made that comment. i think the president realized he'd made a mistake and he stood back and said i probably should go out and deny it. this happens quite often. it's not unusual. it's happened before. it will happen again. the president shouldn't be speak

dollar has done. takeext round that could the yen through these levels would be that relative monetary response. making its first move and the doj continuing to be accommodative. i think all eyes will be on that friday number here in the u.s. and what it in forms in terms of how the market is handicapping the likely timing of that first move. and certainly, greece. it is a very dynamic environment and fluid with a lot of speakers and the market trying to interpret what those voices say. angie: does that mean we should ignore europe? are there still opportunities abound? >> it is one of the more tractive places, keeping and i to the currency component. we probably would look at that as a buying opportunity. we will see how big it is and how the market response to it. the most likely path is some sort of resolution or a can kick. things can go wrong in these negotiations. and leading up to this friday and the first payment of the imf ,r the next payment of the imf accidents can happen and misinterpretat

page 9, line 19, after the dollar amount insert reduced to zero dollars. page 156, line 15 after the dollar amount insert increased by $155 million. the chair: pursuant to house resolution 287, the gentleman from california and a member opposed each will control five minutes. the chair recognizes the gentleman from california. mr. mcclintock: thank you, madam chair. this amendment eliminates the $155 million of discretionary spending that's wasted on one of the least essential programs in the entire united states government, the so-called essential air service. that's the program that subsidizes empty and near-empty planes to fly from small airports to regional hubs just a few hours or less away by car. this was supposed -- supposed to be a temporary program to allow local communities to readjust to airline deregulation in 1978. not only is it still going on today, it has doubled in cost in the last four years from $130 million in 2011, roughly $260 million in 2015. $155 million of that is in our control. this amendment zeros it out and puts it toward defi

dollar is up against the euro. darrell expects that draghi will come out with positive news on the eurozone and perhaps send the euro higher around the dollar lower. there is a look at currencies. we're expecting weakness for the broad stock market as it began, overnight in asia and europe as well. >>> some united airlines passengers forced to make unexpected detour leaving them stranded at a canadian military barracks for over 22 hours. nicole petallides with the story. good morning to you. >> good morning, maria. no one wants this situation. passengers on a united airlines flight from chicago to london after the flight was diverted to goose bay, canada, for mechanical reasons. they were forced to stay the night on cots in military barracks. that provided little shelter t was near freezing temperatures in that area. passengers complained of the poor a accommodations while united airlines employees left comfortably in a nearby hotel. united issued a statement saying passengers were placed in the barracks, hotel spa

the yields are pushing higher, and finally, the dollar, how is the dollar doing? as we look at a basket of currencies, it is at a low of one month. it also has a leg up regarding those greece comments. right now it is down just 2/10 of 1%. olivia: thank you very much, that was julie hyman, our senior market correspondent. now here is a look at the top stories we are tracking this past hour. aaron b&b has a -- airbnb has a valuation of $240 billion. of $24s a valuation billion. and facebook is taking after professional football to increase diverse city. it is implementing its own rooney rule. bloomberg news reports that some facebook departments are required to interview at least one minority candidate for open positions. alexander hamilton, you are being replaced by a woman. the $10 bill is being redesigned and will face -- will feature the first woman to have her face on a bill in over 100 years. the 100thhappen at year anniversary that women got the right to vote with the passage of the 19th amendment. so we will have both alexander hamilton and both though woma

you see in the first year we have relatively significant revenue growth, over 280 million dollars and additional 100 million in the second year and in the third year the revenue is more than offset by the loss of a one time source, which is fund balance. you remember we spend the cities one time ending fund balance over the next 2 years of the budget as a starting source so that third year then does not currentry assume because it is not available all most 200 million dollars in fund balance. on the uses side, as our revenue grows the city is required to expend a certain portion of the fundsing on base lines and you can see that the line there reflecting baseline and budgeted reserves. in the first year 85 million dollars reflected there is all most entirely baseline funding for [inaudible] childrens fund, libraries and our other set asides and baseline. the next line shows salaries and benefit said. we have relatively stable labor contracts over the next 3 years. you can see about 30 million in the first year, additional 57 million in the second year and in the third year 72 million.

from the dollar vantage point, dollar investor vantage point. so, we generally, are thinking that tactically the rest of the world could be interesting. the district to it -- to address the question, and interesting thought because if you are thinking in terms of time five-year time frames, parts of equity does best when you are a -- is distressed that because the amount of capital allocated gets a possible opportunity set could be compelling. when rates rise assuming that over the next five years rates will rise, there will be more bankruptcies in the marketplace. we have been artificially -- and an artificial environment with the banks have adopted a -- and they were very supportive of reducing the amount of bankruptcies in the world. so were actually out of a low rate of bankruptcy today in the united states. at some points, especially in the market changes , these are the interest rates, distressed debt will become the route compelling. sometimes it backfires to be an interesting distressed cycle. >> thank you again. going back to the point

i should say again, we're very excited about the 3 hundred employed e million dollars bond and appreciate our recommendation. >> okay. thank you very much colleagues if no further discussion commissioner tang. >> thank you. i want to say briefly i added my name a co-sponsor to this particular bond item 10 because i felt that in our city we haven't done a lot to address the low income housing at least one 50 percent ami so given some of the other federal funding grant programs for requirements for the income levels i felt strongly how this bond level how we can achieve the help from middle-income housing and excited about the down up to that time loan and helping the teachers those are things i know we will have difficulty exclusively in other ways i know we've given a range for the middle-income portion i hope we can go to the higher end of that thank you very much. >> supervisor mar. >> yeah. first of all, thank you for the great presentation i want to thank commissioner avalos for his opening and the request for the adjustment of the 5 hydromillion dollars down to $350 million i'll ask

from single dollars for individual pieces of content, up to hundreds of dollars for certain series. we even have some content that some are selling for over $1000. for instance, very specific instructional content. it is very early for subscriptions, but we expect the same array of possibilities, based on the audience and how specific the contact is. betty: you made a partnership with a company in the video gaming world. this was written up about in the press. >> we are very excited about our ima. theyip with machin really represent the early programmers in the independent, online video world. certainly, the world is very familiar with the wide breadth of creators on youtube and ad supported model that they have developed. machinima are coming in. now with the ability to monetize, we are charging for content. wereke a studio offline, they may have content the window for pre-consumption with advertising, they may also saw that content through vod service. vimeo now brings that platform to them. betty: if it is free, why will i pay for it? like the off-line video world before the inte

dollar yen weakening which should help exporters today. lessop story right now, than three hours after telling hasle not to worry, greece put off a multimillion dollar payment to the imf. it invoked a rare option to buy time as it tries to negotiate a deal with creditors. shery ahn is following the latest. a rare provision only used once by zambia. that would be a solid african countries and that was used in the mid-1980's. months, greece appears to be taking a brinksmanship approach down to the water because we are seeing it come more confrontational. economics professor at nyu saying that delaying the payment to the imf is an escalation of confrontation and increases the risk of bankruptcy. greece telling the imf that it would delay the $339 million due today friday and instead of bundled payments. they have four installments this month and that would be $1.7 billion. the imf statement announcing that the greek authorities have informed the fund today that they planned to bundle the country's four june payments into one on june 30. we ar

we increased our passenger fee per head from 12 dollars a passenger to 18 dollars a passenger to help pay for the terminal and the cruise lines, they dopet like it but understood. they see the facility and they get it. but wree competitive market. san diego charges 6 or 7 dollars for a passenger on and off the ships. the [inaudible] cost are high. we are is good labor and they do a good job, but the cost are high >> your question of revenue going forward, i think you make a very good point, which i want to come back to. if you look on the table of page 5 of the staff report, if you look at the revenue debt suchbs, historically the port managed the cruise business to cover expenses and break even covering expenses not capital investment so we are doing that and then some as you can see. historically we would consider this a banner year. when the decision was made to proceed with this project initially, it was-we did not anticipate that we would be able to cover that service but as time evolved we became more and more convinced with the raising of the passenger facility fee and the abil

family dollar and dollar tree are about to combine. you're going to see it accelerate at dollar general and relative to other retail earnings, the dollar general numbers are actually ok. sales slightly below consensus at 3.7. it is still not that and they pull off a nice cps be at three cents by better gross margins. erik: the outlook, it is consistent with what they have released before and seems consistent with your target thesis. did you see anything in today's's report that suggests there may be room in there for your upside thesis to play out? dan: i think the upside was gross margin. we thought there might be gross -- and it was there. the company is doing a better job on initial markups and i think one of the callouts to their credit was better transportation costs. a lot of retailers complained about the port issues in higher trucking costs and dollar general navigator that well. stephanie: in terms of store renovations, many of us are scratching our heads, is this an efficient use? does the dollar general customer care? one wo

have an amendment promoted by supervisor wiener that come associated with item 2 hundred and 50 millin dollar and she do you want to recap and no, i think stated. >> so an amendment to accept we'll take that without objection. as amended. >> okay. >> i believe that madam chair, i thought supervisor mar has minor amendments. >> actually notice it is reintroduced as a subsequent motion for the medical purposes everyone everything is fine. >> so we have all the time 3 and two i don't believe there is amendments for item 4 let's go ahead i should have called altogether. >> supervisor wiener. >> colleagues thank you, everyone that helped to put those pieces of elastics and jeff is did a lot of work on the health warning measure i think those 3 measures individually and together are significant step forward in our city's effort to departure of having an guard of addressing the products that is contributing to serious health problems in our society and i with all due respect to the dinetion who spoke for the american beverage association i don't august it is not relevant whether or not i agree but w

dollar at 111. mobile currencies, however mixed amid the however mixed combat began as higher as well. european markets. but that's falling into correction territory and down 10% from the weekend high. it is done for tenths of a percent. the cac and france also lower. turning to sports this morning. you probably went to bed early the last night. the nba went into overtime for a second straight game. lebron is way to a triple doubles cleveland it evens the series over the golden state warriors. golden state steps three within 19 points as the shot just two for 15 from three-point range. game three is tomorrow night in cleveland. in baseball, the cardinals dodgers squared off. john is also started a comeback with st. louis in a three run inning was held by rbi double from the holiday mark reynolds. the deciding game of the series for-2 over l.a. the french open number eight sam brink beats no vouchers of age. a major asset to win the championship. that is the 20th winning streak. his first french open

this is not the entire amount of the dollars they received as a group it's 1.4 but these are the dollars that reflect department activities such as the expansion of the tattoo clinic trama and sub tans abuse services we will be working closely with the coalition a lot of them were at the last commission meeting you will recognize many of them from that meeting the street violence and prevention program is the work we have almost i believe 25 individuals who work with our programs to work with young people who -- have been impacted by violence and try to intervene particularly when there is an incident so retribution doesn't happen they have worked throughout the streets of san francisco over the last three years have worked to make it citywide administration. uc wrap around project important with uc they do work with kids coming in now they see more adults coming in to the san francisco general hospital that is exactly what they do they wrap around the individuals to ensure they get and are not having additional violence in the community. over the last ten year we have been totally conce

dollar exchange program will run until september. then the dollar will be history and the country will have to manage without a currency of its own. anchor: we have this from the german capital of berlin, marking the half we point on construction work to rebuild the royal palace at the heart of the capital. the ceremony was held today to celebrate the completion of the building's mainframe. anchor: it was damaged during army in world war ii and then rip down by communists. the city is spending close to 600 million euros on this building which will house in arts and culture center. to soccer news. norway and germany have finished with a one-all draw. anchor: scoring six minutes into the match but in the 61st minute a free kick for norway. germany remained at the top of the group and go on to meet thailand. that match coming up on monday. anchor: that is all for now. thanks for watching. anchor: stay with dw. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit nci

chairman page 32 the recommended instructions to the 2015-2016 hundred hundred thousand dollars plus and hundred and 21 thousand a one time savings this allows the increase of the amount and the 2015-2016 and our recommended reductions for the paroled total $10,000 in 2016-2017 of the 10 thesis or ongoing savings it was allowing a reductions of the 2016-2017 and we're working with the department and report back to the committee for the final recommendations. >> thank you very much thank you, ms. dodd and mr. las vegas have been next our department of human resources. >> good afternoon examiner thank you for the opportunity to describe and define any budget i want to start by stat the mission of the human resources to recruit and engage the cities workforce for the services needs of san franciscans we're trying to do that by providing did human resources for the innovation i'm happy to report we've reached an agreement with the budget analyst and we would like to thank the budget analyst staff and also the mayor's office for their assigns in crafting a budget that everyone of the arbi

o properties once the 45 ballet day ends up the july 2, '50 millin dollar 8 board of supervisors meeting the ballets are counted and the board of supervisors established the b cd your amount with the assessment formation process and hopefully clear this is very much mirrors the traditional formation process entails districts establishments the formation committee becomes the interim board and the in time organization is formed in the fall and the board of directors elections are held again, the g b d sign a formal city contract and the property bills are issued in november and november and december the g b boarded votes and signs a contracted agreement with the service provider and the assessment are collected and distrusted and january 1st, the g b d begin the services so that is the end of my presentation i am sorry to the board. >> colleagues, any questions for mr. goldberg seeing none, thank you for your presentation. >> thank you so colleagues, i see we have several members from the steering committee in the audience i want to open up for public comment and invite steering committee

[inaudible] has puproposal, so the mayor give to [inaudible] 500 thousand dollars plus 150 thousand for outreach for the people that is evicting in the neighborhoods so we have all the problems in san francisco. they are visiting every day families from the housing and we need to stop it because the more people is [inaudible] the more homeless we create in san francisco and we need to stauf it. thaupg so much and have a great day, bye >> good afternoon my name is [inaudible] with the coalition of homelessness and support has paand want to make sure you put in the funds for the housing because like that gentlemen said there are a lot of homeless people out there and don't want them to be sitting in your door way so want you to support this program to make sure families have housing because they are strug squlg need housing for everyone so hope you support this program, thank you >> thank you, next speaker please >> my name is siaa and with the coalition on homelessness and for the past 6 weeks i have been in city hall every day doing outreach and thipg i talk today all most all of you an

take dollar general which reported what looked to be a mixed quarter but like dollar tree it had the west coast port strike to thank for whatever disappointment there might have been. but it's not just earnings i watch. i also like to watch how stocks react to news flow. they put out extraordinary sales numbers but stocks failed to react that positively. even general motors barely budged. with the industry on track to sell north of 17.5 billion vehicles a year you'd think that ford fiat and gm would be roaring but people caught on to the fact that these are big global economies. these kind of sales are a fabulous sign for the overallstate of the consumer for employment. i'd like to factor that in too. what else? i like to see how interest rates are impacting the market. for the vast bulk of my career i feared high interest rates because they have been a sign of inflation which erodes purchasing power and hurts the long-term value of stocks. these days we're actually -- if you're bullish rooting for higher rates because the financials largest part of the s&p 500 need them in order to

nolan, after the dollar amount insert reduced to zero dollars. page 135, line two, insert increased by $715 million. the chair: pursuant to house resolution 303 the gentleman from minnesota and a member opposed each will control five minutes. the chair recognizes the gentleman from minnesota. mr. nolan: i yield myself such time as i may consume. the chair: the gentleman is recognized. mr. nolan: mr. chairman, i'd like to begin by taking a moment to thank chairman frelinghuysen