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tv   Shepard Smith Reporting  FOX News  July 31, 2019 12:00pm-1:00pm PDT

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electrodes through his head. >> i'm moving my mind and fingers. i have to be very concentrated. >> dana: the research is being used to make technology. here's shep. >> shepard: continuing coverage of the breaking news and a look at the dow now dropping precipitously after the federal reserve announcing they're cutting interest rates. usually a cut boosts the market. it seems today the market movers were hoping for a bigger cut and more cuts to come so they're selling. so your 401(k) maybe wait a few days to look at that. still on this rate cut, if you have a car payment or a credit card or you're considering buying a house or something like that, you'll want to hear this. this is the first rate cut in more than a decade and it's a big deal because it's the first time it's happened since we were scrambling at the beginning of the great recession.
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the cut lowers the range of interest rates. we have a graphic show to show you here. it lowers it a range from 2 1/4 to 2 1/2 percent to a range of 2.5% to 2.25%. it's down .25%. so let's talk this through. it's not a major change. and the fed just said it's not necessarily the beginning of a trend. a policy adjustment towards accommodation, they're saying. trying to sustain the expansion. still, the move could have major consequences. here's why. the rate affects how much it costs to borrow money. in theory, lowter rate, loans cost less and the economy churns faster. this time around, maybe not so much because rates are already very low.
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historically low. global growth is down obviously. but the u.s. economy is doing quite well. there's little to no inflation to speak of. nothing near the 2% target. lowering interest rates could increase inflation. but what if? what if anything big happens to shock the world market? you don't know till you know. something related to oil or conflict or natural disaster and the fed needs to lower rate in response? in the great recession, rates were forced way down to stop that incredible plunge. now there's not much lower to go. not much room to work. certainly some people in some companies could benefit regardless and we'll explain why in a minute. the potential down side is there. the elephant in the room, the president's been pressuring the fed to lower rates. the fed is independent. the president has no power there in theory and historically presidents have not weighed in on such matters.
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it's just not done. of course we're in a new and different place these days. the fed said seconds ago the president's wishes and pushes hand no effect on its action. jackie deangelis is here. a live look from the new york stock exchange. a lot to go through here. explain how this affects all of us. >> there's so much in here, shep. first, to answer your question, it's all about lower barrowing costs, right? if you're a consumer, you may see lower interest rates on your credit cards or purchasing a new car or may see lower mortgage rates even though they're under 4% right now, it's still low. all of this is about stimulating the economy. so you get consumers out there and they're spending because they'd have the incentive to do so. that's a positive thing. take it one step further, it's even good for businesses, small, medium and large businesses as
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long as general electric. they can borrow more. they can invest in the future. that goes back to stimulating the economy, supports the stock market and you see the stocks go up as well. the danger here, we've seen the low levels since 2008, 2009. at what point do you get a stock market that is reliant on low interest rates to function? that's a question that some folks are asking today. now, inflation, as you mentioned, that is part of the story. sounds scary to most people out there. some level of inflation is a good thing. that's why the fed points to this 2% target. inflation worries can be cured or the 2% target can be reached when you have an economy that is more stimulated. >> the problem is, if you're a saver, like if you have $10,000 in a cd or you want to put it there or you have a savings account drawing a certain amount, there's the chance that
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the interest rate that you're making, especially if you're like an older person, that can go down as a result. >> absolutely. you probably will see the rates go down. so if you're a person that was taught not to rack up a lot of debt, to save money out of your paycheck and put it in a certificate of deposit or even in a bank account or checking account, you've not been getting much. you may have seen the rates climb when the fed took rates up four times last year. you're likely going to see them go down. that will be difficult for people close to retirement. because they sort of may feel that they're missing out on a higher rate of return. they may take some of that money that they don't want to take so much risk on and put it in the stock market when they would rather keep it in that savings account. >> shepard: as a casual observer, i realize that over in europe, their interest rate is in the negative. it's negative .4%.
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chance is similar. historically the u.s. has kind of led. now we seem to be following them in a direction down. when did this start? >> you're making an excellent point that is one of the conversations being had today. the fundamentals of the u.s. economy seem strong right now. why is the fed cutting rates? a lot of people say because central banks all over the world are doing it. so it's difficult for the united states to compete in that environment without keeping the rates low, without stimulating its own economy. there's those on the other side that would tell you, that's the worst reason to cut interest rates. >> shepard: one last question. what if? you always have to be ready for what if like what if somebody in my family gets really sick or something horrible happens, i want a stash of money to try to fix it for those people i love, right? in the economic sense of things,
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what if a tanker blows up in the strait of hormuz and oil prices sky rocket or what if one country that we're allied with starts fighting with another in a military way and that shocks the market? what if there's another bubble that we don't know about like we didn't know about the last bubble. maybe it's student debt. you need ammunition if you're the fed and your ammunition is the interest rates. there's not far to go. >> no. but maybe the fed thinks they used one of their three bullets. you have the white house saying they were looking for 3/4 of a point. maybe not necessarily all at once. the fed giving that quarter point to the mark today. it still leaves room for another half a point and we have a little less than half the year to go. >> shepard: jacqui, thank you. clarity. simple. we'll get to the fox urgent.
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a fire burning in an exxon mobil refinery in texas. this is now and it has officials warning people, don't go outside. they believe this may be serious, a spokesman says six people are hurt, which is serious. the injuries are not life threatening. this is baytown, about half an hour or so outside of houston. the city tweeting that everybody in an area west of the plant needs to shelter in place. you can see the area in the green there on the screen. it's a rudimentary map. there's a news conference underway. the tweets indicate it's such abundance of caution. let's listen to what they're saying. >> a fire and explosion. we do not know what the cause of that incident is. i can tell you, we're going to work diligently to figure it
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out. make sure it doesn't happen again. >> shepard: well, as they figure it out and learn more, we'll monitor it. the moment we have a bit more information we'll bring it to you. now back to the matter at hand. the dow is down 250. down more than 400. every word the fed speaks, the markets reacting. looks like this is a one-off change in interest rates. not the beginning of a trend. but they're going to act and react. we gave you a seven-minute snack on this in news terms. over on the fox business network, it's a meal. if your interested in this, if this is your thing, the fox business network is your place. we won't be offended if you go there and check out the business side of this. i guarantee you, they'll be hashing it out the next hour. the fed is still speaking and there's a live news conference on fox business.
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up the dial a little bit. we have a lot of big news today. delta airlines is noting it has a very strict protocol on alcohol. why, you may ask, are they reiterating their alcohol policy? it's because people get drunk and cough and sneeze. not really. it has to do with how one of its airline pilots showed up for work today. not good. plus, if you'd like -- if you list in russia, chances are you don't want the secret police knocking on your door. why the former kgb agent vladimir putin has put his cops in crackdown mode to take on his critics. in addition, there was a debate last night. we'll get into that. may affect the big picture. hope you're having a great wednesday. news continues after this. i have fantastic news for veteran homeowners who need money for their family. with our service,
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>> shepard: fox urgent. the story on an emu. there's an emu on the loose. officials in north carolina are looking for and i quote, eno the emu. i think the people named it. there's the wanted poster. folks say they last spotted it jumping on the hood of a car before -- i don't know -- fleeing the scene. not literally taking off. it cannot fly. they're hard to catch, so they can sprint around 30 miles an hour. police have released this wanted poster, so study this emu carefully. if you see it, do not challenge it to a race. the emu will win. cops arrested a delta pilot that was seemingly drunk and about to fly a plane from minneapolis to san diego. you get on the plane, strap in, have you water. the pilot is wasted. that's what happened according to local news reports.
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the pilot reportedly showed up to the airport wreaking of booze and tsa agents said they found a bottle of booze, an empty bottle that us yo -- used to have booze on his personal. delta said their alcohol policy "is among the strictest in the industry and we have no tolerance for violation." in other words, drunk pilots are not normal. delta is cooperating with the investigation. and police in moscow are reportedly raiding the homes of people involved in a huge and unsanctioned series of protests over the weekend. that's according to the reporting of bloomberg news. the demonstrations are in opposition to vladimir putin. remember, just a couple days ago, a doctor says a russian opposition leader that was
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involved in this, a famous opposition to vladimir putin was likely poisoned in prison. poisoned again for that matter. benjamin hall with more live in london. ben? >> hi, shep. we've been following this story since the weekend. what we're seeing is a crackdown starting to develop in russia. it all started last weekend when people took to the streets to demand for free and fair elections. now people are saying this is the worst crackdown since 2012. this growing wave of dissent was sparked when authorities refused to register opposition candidates from moscow city elections which are due in september. so russian police violently attacked the protesters and arrested 1,400 people with dozens injured. the protesters are still saying they won't give up. >> well, it may be frightening and dangerous, but on the other hand, i personally can't see
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another way but to go through these kinds of protests. otherwise, we just aren't able to overcome this misuse of power. >> numerous anti-kremlin activists are in jail, including the opposition leader. he claims he was the target of a poison attempt in prison over the weekend as well. still, another big protest planned this weekend and people expecting to see a lot of police, protesters back on the streets and possibly similar scenes. shep? >> shepard: the big picture here, there's evidence that the support for vladimir putin at home, domestically is way down. >> absolutely. that's what this is about. lifestyle has been decreasing. the quality of life the last five years is getting worse. as we head into the next election cycle, his popularity ratings are just sinking. this is all about re-electing him in the future. putin is 66. he's allowed to stay in power
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till 2024. last time he got around this by stepping down, becoming prime minister for a term and becoming president again. it's not expected if he will get away with that again. ever since the protests, people have been trying to voice an opinion that he won't run for a second term. so we're seeing police going around the houses of those people that participate in these protests. they're looking at the electronic devices, trying to find anyway possible who was there and they're trying to lock them up. now, the next main elections take place in 2021 for the lower house in russia and that will be key for putin's re-election. if the putin party doesn't win then, putin will have a fight on his hands and we're seeing how he intends to respond. shep? >> shepard: ben hall live in london, this is just in. a navy fighter jet has crashed near china lake, california. you can see it on the map there. it's about -- if you're
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listening, it's about 150 miles north and east of los angeles. the navy tweeted that the jet is a single seater, an fa-18 e super hornet. officials say search and rescue efforts are underway now. we don't know about the pilot. the american teen accused of killing a police officer in italy hiring very high profile attorneys and now we're hearing from one of their fathers. a former public enemy number 1 set to come up from the grave. why in the world would you dig up john dillinger? >> tech: at safelite autoglass, we really pride ourselves on making it easy for you to get your windshield fixed. >> teacher: let's turn in your science papers. >> tech vo: this teacher always puts her students first. >> student: i did mine on volcanoes. >> teacher: you did?! oh, i can't wait to read it. >> tech vo: so when she had auto glass damage... she chose safelite.
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>> the most conspicuous ban in the generation. the murderer was caught and set to death. >> shepard: that was back in the day. officials in indiana have given the okay to dig up the subject of that, john dillinger. dig him up from the grave. the gangster was a folk hero to some during the depression. it's been more than eight decades since the feds killed him outside a theater in chicago. jonathan hunt reporting on this. why are they digging him up? >> if family of john dillinger has not spoken to the press about this, but it's all to do with the history channel. they have confirmed that the exhuming will be part of the documentary on the gangster. a request made by his nephew to the indiana department of health asked to disinter and return the body on one day, september 16.
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did not list a reason why. >> i think any official that we can uncomfortable and verify is great to put out in the public record. of course, if the family that survives gives their okay to something like this, it could put to rest some conspiracy theories. >> the process, by the way, shep, is not easy. dillinger's father that was worried about vandals had the casket reburied under concrete and scrap iron just a few days after the initial burial at crown hill cemetery. shep? >> shepard: what is the fascination here? are they doing this to make money and this gives them visuals or what? >> entirely that. but obviously the whole dillinger story is something of a robin hood tale. dillinger and his gang robbed banks in the great depression when many blamed the banks for
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their economic hardships and dillinger was a folk hero of sorts. even though ten people were killed in the robberies. dillinger himself was never convicted of a crime. in 1934, he escaped from prison using a fake gun made out of wood. that was his third jail break. while on the run, he underwent plastic surgery to change his appearance and allegedly tried to burn off his finger tips with acid to change his fingerprints. a golf known as the lady in red turned on him alerting the fbi to his whereabouts and he was shot when he reached nor a gun as he walked out of a movie theater. 10,000 people lined up to see his body after he was killed. his grave site is a major tourist attraction today. we don't know if it will be open to the public on that day, september 16, when john
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dillinger is due to rise from the grave. shep? >> shepard: thanks, jonathan. the father of one of the american teenagers accused of killing a cop in italy says his son didn't know what happened until after he was arrested. the father tells fox news in a statement that he met with his son this morning and is "convinced of his innocence." the fathers of both teens arrived in italy amid reports that the families have hired famous attorneys to represent their sons. the two americans are accused in the stabbing death of this man, a police officer, after an apparent drug deal gone bad. cops say they confessed to the murder, but is giving conflicting statements about what happened. investigators have apparently found a potential clue in a hunt for a motive after the gunman killed three people at the garlic festival in northern california. the los angeles times newspapers
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reporting that police discovered extremist material inside the 19-year-old shooter's apartment in nevada. in the last hour, fbi agents told reporters that they have not been able to determine the killer's ideology just yet. police say officers shot and killed the gunman at the scene. claudia cowan reporting live. some specifics on what they found in there, right? >> that's right, shepard. a number of items found in the suspect's apartment in nevada that suggested he could have been planning a bigger attack. that apartment located in walker lake, nevada. a remote town southeast of carson city. it's not clear why the suspect moved there after graduating from gilroy high in 2017. according to a search warrant, investigators found a gas mask, bulletproof vests, pamphlets on guns and empty ammunition boxes. at a press conference, the fbi pushed back on reports that the
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investigators found radical islam papers. >> we don't have an ideology on this individual at this point. we're looking at multiple threads of conversations that he's had. however, we're still not comfortable and saying it's an ideology one way or another. >> the fbi also down playing an instagram post made by the suspect the day he opened fire urging his followers to read a book popular with neo-nazis on extremist websites. behavioral profilers are coming in to help determine the suspect's mindset looking to his online footprint as they zero in on a motive. >> digital media has been very revealing in ideology beliefs and mindsets. we have to get the computers to get a picture of him, who he was
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in touch with, what sentiments and thoughts he shared with others and cataloged for his own consumption. >> here at the crime scene, police have begun escorting festival goers back inside to retrieve their cars and personal belongings. we have seen many people in tears still traumatizeds as that return to this scene of violence. >> claudia cowan live. the second round of democratic debates, joe biden and kamala harris set to share the stage again after a tense back and forth at the first debate. what we're hearing from some of the candidates. and later, how a woman is using a taxi cab in her quest to find love. ahead, what she says she's looking for in a soul mate. it's the bottom of the hour. the top of the news is next.
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>> shepard: it's the bottom of the hour. type for the top of the us in headlines. a senior citizen heading to the slam: the crime? feeding stray cats. we ask the judge. a financial adviser set to be sentenced in a massive ponzi scheme after trying to use the stolen loot to cast spells on the fed. first, a bomb blasting through a bus leaving dozens dead including children. happened in west afghanistan. the bus on a major highway. police say at least 32 people are dead and more than a dozen hurt. video from herat shows the men alive. no claim of responsibility so far. this as the taliban holds peace talks with american
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representatives. so far there's no agreement. there's really no sign that the militants plan to stop killing innocent civilians any time soon. amid the tensions with iran, democrats and some republicans are pushing the limit that the president's power to take military action without the okay from congress. lawmakers are set to leave washington for a month-long vacation without resolving the debate. congress has not actually declared war since world war ii. senior producer for capitol hill, chad pergram has a look at the united states has waged war usually without declaring it. >> congress has voted five times to declare war against 11 nations. started with the war of 1812 primarily against the british. article 1 section 8 of the constitution grants congress the power to declare war. the founders struggled about whether they should award war authority to the legislature or the executive. should it be make war or declare
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war? charles pinkney worry that congress continue responded to hostilities fast enough. congress often skates around declaring war by adopting measures which don't always mention the word "war" at all. congress approved the gulf of tonkin resolution. the measure never said anything about war. it would "promote the maintenance of international peace and security in southeast asia." in reality, it afforded lyndon johnson a blank check to do anything he wanted and that was the vietnam war. congress approved a 1991 resolution authorizing the gulf war. lawmakers sanctioned the war in afghanistan and against
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terrorism after 9-11. in 2002, there was the congressional blessing to innovate iraq in 2003. three presidents have deployed the 2001 and 2002 justifications of overseas interventions. so congress cedes power to the executive. it's easier for one person to decide what to do compared to 535 members of congress. there's an old saying in congress, you may not be able to be a little pregnant, but you can be a little bit at war. chad pergram, fox news. >> shepard: it's rematch night at the democratic debate. the frontrunner joe biden will take the stage against kamala harris and this time the former vice president warns he won't be so polite. did he mean he will be better
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prepared? eight other candidates will join him. the other ten contenders that qualified faced off last night somewhere. peter doocy reporting live from detroit outside the historic fox theater. the debate is in the fox theater. so you won't know it from the banners on the other network. peter? >> many of the candidates will hit the stage tonight have been in an around detroit hosting events, testing out lines for the stage tonight. not joe biden. we have not seen him in public since last thursday in indiana. he has been readying himself for attacks that have been hinted at by cory booker and kamala harris who have been in town since this weekend. >> he had to fight for justice and equality and freedom and fairness. there's has been these moments before where supposedly he
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fought. but the strength of our nation is the strength of the people. >> the really high profile democrats are not the only ones signalling that might not be going after biden. michael bennett said he thinks the v.p. is off base. >> the reason why trump is there in part is that we were a mess before he got there. people said look, we can't do any worse than this. we might as well put a reality tv star in charge and blow the place up. in the time since the vice president left the senate until now, there's been major structural problems that have been created in our democracy. >> bennet, harris, booker and biden will be joined by the rest. shep? >> shepard: which campaigns
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think they got the biggest bump from last night's debate? >> the john delaney campaign said that they had a ten fold increase in donations to their campaign, but we don't know how much money that will being or if its impactful because he didn't have that much fund-raising to start with. bernie sanders 2020 campaign says he's made $1.1 million from 70,000 different small donors since he walked off the stage. and then there's another metric to who got a bump. that was who was the most searched on google. the search engine said it was maryann williamson. shep? >> shepard: she may not win, but it was a good show. some moments of it i thought were revealing. thank you, peter. have a nice time. tell everyone hello. dating in new york can be tough it reads here. even if you're a super successful realtor. >> i have managed to sell billions of new york city real
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estate. i haven't found somebody to remarry. you'd think it's easy. it's not. >> shepard: ann cutville taking out an ad in new york city taxis to try to put an behind to her singledom. she says she's looking for a man that loves his mother but doesn't live with her and can appreciate a fit and fabulous woman. she says she's selling bruce willis' home and now she's making a sales pitch for herself in a new york city taxi. first thing you do when you get into a new york city taxi, hit the mute button right away. mute, mute! i don't care what the news is. i'll watch it on television. coming up, did you know that you can go to jail for feeding stray cats? you can. one senior citizen did not know. her story is next. for now, photos of our staffer's
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>> shepard: a judge has sentenced a former financial adviser and ponzi schemer to 20
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years in prison. investigators say she spent investors money on everything from cosmetic procedures to supplies for religious rituals. last year a jury found dawn bennett guilty of 17 federal charges including bank fraud. prosecutors say she scammed some $20 million from clients, mostly senior citizens. she spend about $800,000 on hindu prayers to try to stop the federal investigation into her business. that's right. $800,000. seems it didn't work. they say they found jars in her freezer marked with the initials of securities and exchange commission officials. fbi agents found instructions for something called a beef tongue hudu shut-up spell. her attorney said she was
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allowed to mix personal and business expenses. police announcing they're scaling back their man hunt in the canadian wilderness for two teen fugatives allegedly wanted for gunning down an american tourist. police have used drones and helicopters to score the rugged area where they found the burned out car. after a week of searching and hard, police inspectors say there's no new sign of these kids. laura ingle is in the newsroom with more. >> the man hunt to find these two teens is shrinking. it's not ending. the royal canadian mounted police giving the public an update to the difficult search this has been. specifically in the manitoba area the last week. that's where there was that first sighting where the teens were stopped for an alcohol checkpoint in flint lake. the two were released when they
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didn't have booze on them. police didn't know that they were suspects. the rcmp says they searched 4,200 miles on land and air. the teens burned out a vehicle in gillam they were believed to be driving. cops going over 500 homes and buildings in the region and searching rail lines and hydro corridors using the most advanced technology with still no confirmed sighting. >> i wouldn't call it frustration. we would like to find these suspects. i can't say it's terribly surprising. because it's just a very tough place to find somebody that doesn't want to be found. >> police today said they know this is not the news the victims want to hear, but assure them the efforts won't stop.
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shep? >> shepard: thanks, laura. ever take home the mini toiletry bottles from the hotel rooms? soon you can't do that. that's next. first, rob a store? go to jail. drive drunk, go to jail. feed stray cats, go to jail. that's cleveland or at least a cleveland suburb where a judge has sentenced a 79-year-old woman to jail for ten days. here crime? she fed the neighborhood cat. >> i used to have a neighbor that had a couple of cats. he moved away. when he moved away, he left the cats. >> shepard: obviously to jail you go. context on what is a very serious crime. we should note this woman is a repeat offender. she admits this was the fourth time the law has caught up with her. our producers spoke with magistrates jeffery short who handed down the sentence and he told us, he sentenced her in may but deferred it for two months
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and said if she stopped feeding the cats, she will be off the hook. he also said this wasn't a couple of cats but closer to two dozen cats and the neighborhood complained and it's been going on for years, this cat feeding. still her son says the punishment seems a bit extreme. >> i understand my mother has broken the law with this. but it should have been reviewed individually. why would you send a 79-year-old lady to jail for feeding cats? >> magistrate short says he's not known as a hard-line judge and he understands the woman has had a hard time since her husband died a couple years ago and the cats are hungry out there. she fed them. he confirms his boss is scheduled a review hearing for tuesday to see if there's more appropriate outcome for the 79-year-old whose crime is feeding cats.
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>> shepard: okay. what would you do if you were walking down the street and saw this? that's a small boy dangling from an apartment balcony six stories up. a group of quick-thinking heros in china grabbed a blanket. look. they caught him. it worked. they desperately tried to climb back up there. the 3-year-old boy's grip slipped and he plummets down. the blanket broke the fall. >> i looked up and saw he was dangling up there my first reaction is to find something to catch him. i thought about rushing over there and catching him with my bare hands. that wouldn't have worked. >> i was there at the moment and helped hold out the blanket. then he fell. it happened fast. >> shepard: the boy was checked out at the hospital and fine. if you like to grab the bottles
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of shampoos from hotels, then stock up. the owner of holiday inn says they're switching to bulk size amenities. it's about cutting down on mr plastic waste. susan li, this is a trend. >> yeah, this is the latest to trying to reduce the plastic foot print. they will switch to bulk side amenities in 850,000 rooms around the world by hopefully 2021. on average, 200 million miniatures are used evidencery year at the 5,600 hotels. that's a lot of plastic that piles up with that ending up in the oceans. isg removing plastic straws as well. they cite alarming forecasts that suggest there could be more plastic than fish in the oceans by 2050.
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customers have asked them to act more responsibly. the u.s. is one of the world's worst recycling nations with 9% of plastics recycled compared to the world. >> shepard: and others have done this. in california more. >> in california, you have a bill working through the state legislature right now that ames to scrap a single use plastic bottles. china has banned single use plastic and the eu banning throw-away plastics. so hotels are thinking let's get ahead of the trend and supply. so marriott, starwood, the largest operator, says they will replace the small bottles and larger in-shower dispensaries in more than 1,500 hotels by the end of the year. >> shepard: susan li, thanks very much. >> thank you. >> shepard: so the dow, it's off 300 or so points. there it is. the final bell hadn't rung yet. this has to do with the fed rate cut that wasn't as big as market
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movers wanted it to be. but there's a lot more to this. a huge global story surrounding this and there's nobody better to explain this than neil cavuto. hello, neil. >> neil: hello, shepard. thank you. a gift to the president and a nightmare as you said for the markets. stocks tank because today's rate cut just might be one and done? i know it sounds weird. welcome. i'm neil cavuto. fox on top of a reaction you might not suspect. stocks diving because jerome powell is already done cutting? that's how investors read what he said. hard to make sense of it. we are all over it. with lauren simonetti on the market impact from it. john roberts on what the president is saying about it. steven gilfoy on why stocks headed