here to explain the numbers jason brooks with kcbs and cbsmoneywatch.com. >> how are you? it's confusing to reconcile those kinds of numbers with more jobs coming online. but also at the same time, the unemployment rate rising. that's what we saw in april of. 244,000 jobs added to the economy. yet at the same time, the jobless rate rose from 8.8 to 9%. the simplest way to put that is that more people started working for work again. a lot of people had pulled out of the job hunt and as a result that's pushing the unmillennium rate down. but with more people back online the rate increase as a result of that. we did see job gains across a number of industries so that was encouraging but if there is one thing that's still not very rosy about any of this wage growth is still nonexistent. hourly earnings rose just .1% to $22.95. that's a key issue when it comes to inflation for the federal reserve. if it doesn't see wage growth increase all that much, it's not going to be as hot to increase interest rates. wall street cheered the report. we have had a number of economic reports

we will talk with jason brooks in a few minutes find the latest at cbssf.com. >>> it is 6:43 a.m. on your monday let's get you up- to-date with traffic and weather here is christy with more. >>> thanks frank. if you liked the weather this weekend you will love it today beautiful sunny skies in store mild start to the day, 48 and san raphael. 53 fairfield, 49 concord, 47 liver more and fremont and 51 redwood city and san jose by this afternoon warming up nicely 79 fairfield and concord, 80 liver more, cooling along the bay shore -- along the bay shore and coast, offshore flow, we will see warmer temperatures as you continue, 61 san raphael, 77 napa and 77 santa rosa. let's go to elizabeth. >> thank you back out to chopper 5. live from the east shore freeway showing us traffic is a little busy as you pass golden gate field, westbound 280 traffic still only a 20 minute drive time from the carcenas bridge. out to liver more westbound 580, approaching north liver more avenue. just clear to the right shoulder traffic still stacking up to at least north flip so our drive time is growing,

let's go to jason brooks with kcbs and cbsmoneywatch.com. we're all for pizza, jason. >> good morning. >> reporter: good morning. apparently, golden gate capital of san francisco like california pete's kitchen so much it decided to bit chain and all the pizzas that cpk makes. the deal pour $470 million an 11% premium. but cpk's closing price yesterday, they have 265 restaurants, the board has already approved the deal. you can probably understand y it's not been all that great sailing for cpk over the past couple of years. in the 1st quarter its revenue was down. same-store sales fell over 2%. that despite the overall casual dining industry showing some improvement coming out of recession so the board saw a chance to make some money and jumped on it. >>> if you thought there was excitement over linkedin's i po last week, just wait for zynga. it makes games like farmville and mafia wars and now cityville is going to file or an ipo as early as this week. it has a market value on the secondary markets where private shares are traded of more tha

we are going to get an update from kcbs moneywatch reporter jason brooks. coming up. stay with us. ,, california should be proud. we were the first to ban smoking on airplanes. the first to have smoke-free bars and restaurants. all while saving over $86 billion in health care costs... and over a million lives. we've done a good job. but even if you were born today, you'd still grow up in a world where tobacco kills more people... than aids, drugs, alcohol, murder and car crashes... combined. we have a lot more work to do. >>> we are going to leave those umbrellas behind today. it's going to be a dry day still. there are some clouds moving across our skies early on this morning. but we are going to see a few of those clouds passing through but plenty of sunshine mixed in between. looks like a pretty decent day today if you're headed out. with that in mind, partly cloudy this morning, 40s and 50s. by the afternoon, going to sneak in a lot of sunshine, couple of clouds moving by. temperatures cooler than normal but comfortable in most spots well into the 60s inland, a lo

an update from jason brooks coming up ,,,,,,,,,,,, i know you're worried about making your savings last and having enough income when you retire. that's why i'm here -- to help come up with a plan and get you on the right path. i have more than a thousand fidelity experts working with me so that i can work one-on-one with you. it's your green line. but i'll be there every step of the way. call or come in and talk with us today. point-three trillion dollars. >>> today the government reached its legal debt limit, $14.3 trillion. only congress can raise the debt ceiling but republican leaders are fight being president obama how much to cut spending. timothy geithner said congress has to act by early august or the country won't be able the pay all its debts. >> tensions between a silicon valley giant and internet partner in china brewing up. >> here is jason brooks. good morning. >>> good morning sydnie and frank a joint statement coming from yahoo! and alibaba the e commerce giant in china that yahoo! own as 43% stake saying they are committed to resolving differences after the revelation

jason brooks with kcbs and cbsmoneywatch.com has more. >> reporter: authorities in seoul raiding google offices as well as another company saying google may have been illegally collecting and storing data from user smart phones, the same story here in the u.s. users have to opt in for the information and it makes it anonymous after it's collected. apple under fire for this but defending itself saying users have to opt in, that makes the data anonymous. they say they will have a software fix for a bug that also includes data for users who haven't opted in. >>> apple unveiling the also imac computer says they will be 70% faster than the prior line. it also says the graphics will be 3 times as fast as the prior versions. the main chips will be made by intel and the graphics coming from advanced microdevices. apple's mac sales not in the same level as iphones or even ipads to some degree have been very strong. they are up 28% in the 1st quarter. we are seeing the impact of rising commodity prices on company's bottom lines. clorox says its profits fell 8% in the prior quarter. revenue up a l

coming up, we are going to get an update from kcbs moneywatch reporter jason brooks. so stay right there. ,,,,,[ male announcer ] it was forged from the fires of imagination. sculpted by an unyielding passion for design. ♪ and tempered by 125 years of legendary performance. introducing the all-new 2012 cls from mercedes-benz. where the world's greatest automobiles take shape. mercedes-benz. the best or nothing. >>> fog in the bay area sneaking onshore this morning. chopper 5 in the east bay. you can see the clouds extending all the way into the valleys this morning. it looks like it is going to be slow to burn off. so the temperatures are going to be cooler outside. now, thick enough missile that we are seeing drizzle at the coast. temperatures running in the 50s and 40s this afternoon. noticeably cooler, 60s inland, in the bay breezy and partly cloudy. at the coast, not much in the way of sunshine there. and some cool temperatures. that stronger onshore breeze bringing with it clouds through the afternoon. some mid- to high-level clouds moving through. now this are

joining now, jason brooks with kcbs and cbsmoneywatch.com. are you going to fly hong kong airlines, my friend? >> i wouldn't mind a trip to hong kong but i behave. i wouldn't worry about getting chopped in the face although that is the reaction from investors today to a report from adp who track private payrolls and they said that there was growth of 179,000 jobs in april. but that was about 21,000 under expectation. and adp is rosier than the labor department's report later on the job market. we are seeing this basically as probably a reaction from companies nervous about higher fuel prices. most corporate reports that have been coming in with companies dealing with higher commodity costs are seeing bottom lines chewed away might be keeping them from hiring as many people as expected. of course, we need job growth to continue in order for the economic recovery to really take hold. wall street not too happy about that report. another story out this morning is making wall street rosier and that's to deal with the chip business. applied materia

coming up, we are going to get an update from jason brooks with kcbs and cbsmoneywatch.com to find out what it all means. promise me low prices. and stick to it. like seriously low prices. [ male announcer ] at safeway, we made a promise of low prices. and we're keeping it. [ female announcer ] take our fantastic club card specials like sweet strawberries, 2 pound packages are only $2.97 each. i need to know that when i'm here, the low prices will be too. monday, tuesday, everyday. i'm a big fan of everyday. [ male announcer ] and with thousands of everyday low prices, you'll save all over the store. [ female announcer ] low prices you can count on. at safeway, that's our promise. that's ingredients for life. >>> today will probably be the warmest day that we'll see this week with plenty of sunshinage blue skies around the bay inland. today's the day to get outside if you can. out the door mild conditions as we start the day in the 40s and 50s. clear in the inland spots and at the bay a little bit of patchy fog at the coast and this afternoon, looking good. sunny skies, we are getting

coming up we'll get an update from jason brooks with kcbs and cbsmoneywatch.com. ,, ,,,,,,,,,,,, man: everybody knows you should save for retirement, but what happens when you're about to retire? woman: how do you go from saving to spending? fidelity helped us get to this point, and now we're talking about what comes next. man: we worked together to create a plan to help our money last. woman: so we can have the kind of retirement we want. now, you know how this works. just stay on the line. oh, yeah. fidelity investments. turn here. gas prices are falling. and >>> certainly seeing some sprinkles out there as you make your way out the door this morning. overcast conditions. our camera here in san francisco picking up raindrops on the lens and it's gray out there. we are going to see more showers later on this afternoon and into the evening. but as you make your way out the door this morning, conditions sitting in the high 40s to low 50s. we are seeing some delays at sfo this morning because of these weather conditions. only sprinkles this morning. this afternoon widespread rain pickin

jason brooks with kcbs and cbsmoneywatch.com has more. >> reporter: good morning. things heating up for barnes & noble on the selling block for almost a year and now it may finally have a deal that its board of directors like. liberty media which owns a number of different organizations including encore, st arz, it's offering a million dollars to take over barnes & noble. things may not be so bleak. it's biggest brick and mortar competitor borders has been closing stores left and right. and also barnes & noble has the nook ereader which has done fairly well and that's an absolute key in trying to capture that ebook market amazon just reported this week that for the first time it sold more ebooks than printed books. things are awfully tough for san francisco-based gap and its three major changes including old navy and banana republic. it's had problems with sales and now it says that its costs are continuing to rise, it's costing about 20% more to make its goods than a year ago. and it's not able to pass on all of those price hikes to customers. as a result, investo

let's go to jason brooks with kcbs and cbsmoneywatch.com with that. good morning. >> reporter: good morning. ever seen people spend more money? the commerce department says that personal spending in april rose by .4%. but really much of that went into the gas tank and at the grocery store. you strip out those two factors and spending was only up .1%. personal income rose .4%. but once again, a lot of that increase came from government transfers, things like social security, welfare benefits. essentially over the past three months, incomes have basically been flat. that's something we absolutely need to see increase for greater confidence for people to start spending more on other things besides just gas and food and really stimulate the economy. two-thirds of the economy does depend on consumer spending. yesterday, google unveiled its digital wallet. it's a paying system in conjunction with citibank and mastercard. you can wave your phone in front of a mastercard terminal in stores and buy things without a wallet. ebay isn't happy. its paypal business

coming up we are going to get an update from jason brooks with kcbs and cbsmoneywatch.com. ,, i know you're worried about making your savings last and having enough income when you retire. that's why i'm here -- to help come up with a plan and get you on the right path. i have more than a thousand fidelity experts working with me so that i can work one-on-one with you. it's your green line. but i'll be there every step of the way. call or come in and talk with us today. markets today. >>> breezy in the bay area. conditions temperature-wise still below average for this time of the year. the good news is we have plenty of sunshin instore. partly cloudy out the door this morning. temperatures as you make your way outside are in the high 40s and low 50s and you will definitely feel breezes along the bay shores and at the coast and you will continue to feel those breezes into today in the afternoon. conditions in our warmest spots only making it to the low 70s certainly cooler at the bay in the 60s and at the coast keeping it cool there in the high 50s. we are seeing gust as high as 30 mi

we'll talk with jason brooks with kcbs and cbsmoneywatch.com. jason, good morning. >> reporter: good morning, sydnie. good morning, frank. yeah, that's the kind of number comparison that can make you scratch your head. how can we have a huge gain in jobs yet see the unemployment rise at the same time? we saw a big gain, 244,000 jobs added to the economy last month according to the labor department and that was much bigger than expectations. about 60,000 over what we were expecting to see because jobless claims had really risen over the past four weeks seeing big spikes in three of those four weeks. as a result, the overall unemployment rate rose from 8.8 to 9%. the reason for that, more people simply coming back and looking for work. they were added to the rolls of people looking for work and as a result unemployment benefits went up in respect to that. it was a healthy gain and good to see because the number of other economic signals have been somewhat sour over the past couple of weeks. we saw the manufacturing and service sectors each slow th

jason brooks with kcbs and cbsmoneywatch.com is the guy behind us. what about the coffee. >> reporter: i'm not behind the increase! just want to make that clear. [ laughter ] >> reporter: it's another painful reality of what grocery companies are going through with rising costs for different commodities. coffee beans have shot up in price over the past year for a number of reasons. higher demand as well as bad weather affecting worldwide crops. schmuckers is raising prices on its brands including folger's, dunkin' donuts, grocery store brand, and mill stone by 11%. this is the fourth increase by them on those particular brands in just the past year. they raised them 10% earlier this year, 9% last august. so we're really watching our grocery bills go up as companies try to make up for those higher costs and they have to pass them on to consumers at some point as their profit margins get squeezed. >>> yahoo is hoping to tap into the social networking to get more people to stay on its site longer. it already started to revamp its email service last year

jason brooks with kcbs and cbsmoneywatch.com. >>> jason, thanks. >>> after a decade of controversy very, the fda is take some major steps to curb the use of a diabetes drug because of its heart attack risk. starting in november, avandia will be available only by mail order at select pharmacies. patients must also be informed of its risks. it increases the chance of a heart attack or stroke by nearly 40%. >>> you could be wasting money every day and you probably don't know it. >> you think okay just let me try it today, tomorrow and all of a sudden it all adds up. that's according to a new report by cnn. among the biggest money wasters, atms. you can spend as much as $5 in fees every time you use an out of network atm. >> guilty as charged. also on the list, the lottery. people can spend up to $20 a week on scratch tickets. and boy, am i guilty here. gourmet coffee is another big one. the average person spends $8 buck when they visit coffee shops. a guy wrote a book called the automatic millionaire. if you are 22 and you buy a coffee five days a week every day until you're 65, you spend

let's go to jason brooks with kcbs and cbsmoneywatch.com. >>> weekly jobless claimed jumped by 43,000 to 474,000. that's the third big jump in the past four weeks. the four-week average is now at 431,000. that's out of a range that would suggest job growth. and it backs up other reports we have had this week that while the economy is still growing, at least in the month of april, it is certainly cooled off. that's in services, manufacturing sectors and particularly on jobs. we'll get a report on the monthly jobs picture tomorrow from the labor department. but that's a big worry for the stock market at the moment, as well. and when it comes to retailers, h & m is shooting down rumors or says it is that it's not interested in buying the gap. some rumors around lately that the swedish retailer could be coming after san francisco- based gap, which has really been struggling for years with sales. it saw that again in the 1st quarter. overall sales for the three chains in the gap for the 1st quarter were down 3%. saw a nice bump in april though because of the late falling easter, gap sales

here's jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: good morning. tough times frank for folks like yourself trying to sell a house somewhere. it is just awfully tough out there. and home prices are now back at their recession lows when the bubble burst. according to the latest kay schiller index, prices in march fell 2.9% from a year earlier down about .8% from the prior month. san francisco, bay area, not any different, down over 5% from a year earlier and down a tenth of a percent from a month ago. selling in the market is basically fallen off after the federal home buyer tax credit expired in the spring of last year. there hasn't been much movement and a big chunk of the market that is selling almost a third of it are foreclosed properties. those prices are cheaper and as a result, that's bringing prices further down. a lot of people are still waiting until the job market gets going before they decide to get out there and buy a home. the home market has a long way to go before it recovers to its pre-recession levels. >>> better piece of news out

thank you, jason brooks with kcbs and cbsmoneywatch.com. have a good weekend. >> you, too. >>> so is a popular kids restaurant actually a hotbed for scandal? >> one california mom thinks so and is suing chuck e. cheese saying the kids games are illegal gambling device like slot machines, allegedly because they use these tokens and dispense prizes. the san diego mom of two wants a jury trial and also wants $5 million in damages. lawyers for chuck e. cheese are trying to get the suit thrown out. >>> 6:49. california's political power couple separated after 25 years of marriage. >> former governor arnold schwarzenegger talked about his separation from his wife, maria. with more on other political marriages that are on the rocks, some surviving all the bad press, let's go to cbs 5 political insider phil matier and former san francisco mayor and assembly speaker willie brown. gentlemen, good morning. so you know the scoop, huh? >> that's what we are going to get right to. now arnold and maria. what's the story? >> they're separated. [ laughter ]

let's go to jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: yeah, it's a tough time for pc makers out there. at least when it comes to dealing with consumers. earnings from hp and dell this week have pretty much confirmed that. hp took the bigger hit. its pc consumer sales were down 23% in the 1st quarter. dell saw its consumer pc sales fall 7%. each did much better when it came to businesses. hp's business pc sales are up 13%, dell up about 5%. but clearly, the trend is shifting towards smart phones and tablets. that's where companies are starting to put more of their attention and trying to gain that important computing market. linkedin's ipo hitting the market tomorrow. this is widely anticipated as linkedin is feeling so confident it upped the target range to $42 to $42 per share that compared to $3 2 to $35 earlier on that. would value the company at about $4 billion. raised about $350 million. it's key because linkedin is the first major social networker to go public and will give us an idea of the kind of inte

ashley morrison is in this morning for kcbs moneywatch reporter jason brooks. good morning. >> reporter: good morning. and two economic reports just came out. retail sales rose for the tenth straight month in april but much of that because of higher gas prices. also first time unemployment benefits plunged drastically last week by 44,000. but economists say that number is still far above the level needed for sustainable job growth. crude oil trading just above $97 a barrel. metals and other commodities are lower. stocks are falling. let's get investor reaction. as you can see the dow is already down by 82, the nasdaq is also lower by almost 24. we'll check some local stocks for you. as you can see, we are not going to -- there we go. the qualcomm is down by 38 cents. alumina is also plunging down 80 cents so far. >>> big oil executives will be on the hot seat on capitol hill this morning when the senate finance committee holds a hearing to discuss ending tax breaks for the largest multinational oil and gas companies. oil executives will be formed to defend why

after 29 years, brooks will be replacing bill mcgregoire at that school. no doubt you were watching president obama's press conference when he announced the bin laden news. did you see the guy he was watching? how about the camera man at the white house wearing the capitals jersey? you know a lot of people came over to the white house, reporters and staff alike straight from that game two and that guy was rocking the red in the east room of the white house. all right, the caps will be in their white tonight. they have to get a win. if not, this thing could be over in a hurry. we'll have the post game tonight at 11:00. for now, we're live in tampa. back to you. >> a lot of people are hoping they rally again. thank you, brett. >> i got to get back. they are going to drop the puck in a couple minutes. >> i was going say, could you help us finish the show? okay. that's it for us, because topper has to see them drop the puck. the cbs evening news with katie couric is next. we'll see you at 10:00. have a good night.

the head coach of oklahoma city, scott brooks, a northern california native. he watches his team blow a 15-point lead with five minutes left in regulation before jason kidd puts dallas up for good. and the thunder lose 112-105 in o.t. spe mavs head home to n ot ithe fi lorna a spot in the finals for plenty o to come. we'll be right back. >> sneer here come the newlyweds. william and kate's july itinerary could include a stop here in san francisco. >> the newlyweds will hit the city july 8 and then head over to yosemite to see the spectacular redwoods. first up, hollywood where celebs are clamoring to be included. victoria beckham is actually booking her c-section a few days early so she doesn't miss out on the action. elton john has offered to throw the couple a party, and steve tisch is also planning a party. i invited them to olivia's talent show. no response so far.

excellent discussion from both of you, jason and brett. >>> "cnn newsroom" continues with brooke baldwin right after this break. [ horn honks ] ♪ ♪ [ male announcer ] humble beginnings are true beginnings. they're character-building beginnings. ♪ they're hard work ethic beginnings. ♪ they're "appreciate what you've earned" beginnings. ♪ they are the purest way to gauge success. ♪ maybe the only way to gauge success. ♪ but the most powerful thing about humble beginnings is that they are... ♪ ...humbling. ♪ show where you're going without forgetting where you're from. ♪ [ male announcer ] in 2011, at&t is at work, building up our wireless network all across america. we're adding new cell sites... increasing network capacity, and investing billions of dollars to improve your wireless network experience. from a single phone call to the most advanced data download, we're covering more people in more places than ever before in an effort to give you the best network possible. at&t. rethink possible. shorts! tanktops! [ female announcer ] grab a box of multigrain cheerios. ge

nicklas backstrom shot was stopped and brooks laich hacks away at the rebound and scores, his first goal of the playoffs, game tied 1-1. there's a six-on- five, jason arnott in front to alex ovechkin and ties the game at 2-2 to force overtime. in o.t. randy jones from his own zone passes up the left side to teddy purcell in front of vinny lecavalier who scores the game winner. that's his second of the game. caps fall 3-2 in overtime. i'm told we're sending it back to you guys on the desk. i guess president obama is getting set to speak. >> all right. >> we have to stop early. >> okay. we're being told right now president obama has an announcement about osama bin laden bin. we're going to the east room right now where the president will be speaking very shortly, but we can report that this has to do with osama bin laden bin being reported that he is dead. that is the word we're hearing now from the white house where president obama is scheduled to speak in a few minutes in the east room talking about osama bin laden bin, the fact that apparently he is dead. we don't know details at this p