Transcripts For FBC FBN AM 20240714 : vimarsana.com

Transcripts For FBC FBN AM 20240714

It wants to pay you to track your phone. And before you book your next vacation, youre going to want to hear this report. How hackers are targeting online bookings for some of the hottest Summer Travel destinations. Ist is thursday, june 13th. Fbn a. M. Starts right now. Cheryl here is how your money is moving at 5 00 a. M. After a second day of losses, u. S. Markets turning things around. We have got green arrows to show you. The dow up 79, s p up 9, nasdaq up 34 andahalf. Were following breaking news out in the gulf of owe man, off the coast of iran, reports say two oil tankers possibly have been attacked. That hit the crude oil contract here in this country and brent over in europe. Taking a look at light sweet crude, theres a gain of almost two andahalf percent. Now checking the yield on the 10 year. Investors looking ahead to next weeks fed meeting and a possible rate cut. The yield, 2. 12 , that is a loss of 3 basis points. Now, the unrest continues in hong kong. Taking a look at asia markets, all in the red with the exception of the shanghai composite which only gained just a fraction of a percent, so pressure in asia. The global story, the ecb, theyre watching it and european markets are in the green. The ftse, cac and dax are higher. Lauren good morning at home. Im Lauren Simonetti shf good l. Cheryl good morning. Im cheryl casone. Lauren we are seeing a huge jump in the price of oil, up 2. 5 after asu a a suspected ak on two oil tankers. An explosion caused a fire onboard. Cheryl another shipping firm identifying the second vessel that was hit, saying 21 sailors were evacuated with one slightly injured. Tensions remain high between the United States and iran following an attack on four vessels in the same region just last month. Well bring you any breaking details as they happen. Lauren oil prices are spiking again. Cheryl now to the trade war with china. President trump ramping up tough talk on beijing. He is saying its not clear when hes going to impose additional tariffs on china. Listen. I have to deadline. My deadline is whats up here. Well figure out the deadline. Nobody can quite figure it out. Lauren the president s hard line signaling this could be a prolonged trade dispute. I would never make something that would be less than what we already had. We had china opened up to trade. Thats a big thing. Theyve never done that before. We had intellectual property theft taken care of and taken care of beautifully and all of a sudden those things started to disappear at the end after they were fully negotiated. Lauren the president added he could put everything china imports under a 25 tariff after the g20 summit. China says if traditional tariffs are added they will retaliate once again. Cheryl huawei is going after verizon in their wallet. The Chinese Telecom company says verizon needs to pay licensing fees on more than 200 huawei patents. This is according to a report in the wall street journal. In a letter from huawei, a an intellectual property licensing executive writes this. Quote, we trust that you will see the benefit of taking a license to our patent portfolio. This only escalates the tensions between the United States and china. The White House Office of budget and management says it will meet the twoyear deadline to Ban Companies contracted by the government from doing any business with huawei. Lauren the other battle that china is battling is hong kong. Another chaotic day in hong kong after violent clashes between police and protesters. And Hong Kongs Legislative Council announcing that no time has been set aside for debate on a controversial extradition law. Cheryl Connell Mcshane live in hong kong with us. Connell, good evening to you. Reporter good evening, cheryl and lauren. Good to see you both. Its cliche to say what a difference a day makes but after what the city went through yesterday t. Cliche probably applies. Were near the Legislative Council buildings where the protesters had been out on the streets. Ill step out of the shop for a moment and ill show you the scene today. Some police are still Milling Around but the protesters have cleared out. Weve had heavy thunderstorms hitting the area in hong kong. Even before the rain moved in, the protesters had been moved out and contrast that with the video of this area from last night, and we say the protesters have been moved out, theyve been moved out with the use of force. The police using tear gas and rubber bullets at times to drive them away after the protesters through their own efforts had been able to delay a debate in the Legislative Council over the extradition bill that you referenced. Now, everybody here is trying to figure out the next steps. There were a group of maybe 50 to 100 protesters Milling Around in a park near where were standing now. We paid them a visit a short time ago, trying to figure out what comes next. So when is there going to be another protest, do you sunshine. When they start the second discussion. Oh, okay. Youre waiting for the bill to come back into the legislature. I think its this week go if theres a debate over th extradition bill, there will be another protest. For sure, yes. Do you think it will make a difference . I hope we can. Reporter terry lamb, the chief executive officer here in hong kong, the highest ranking political official, had tough word for protesters, saying this is clearly no longer a Peaceful Assembly but a blatant organized riot. Those were her words, organized riot. Speaking of organization, some of the protest Leaders Within the last hour or so have been talking about organizing of their own, possibly putting together another large scale march for this coming sunday. So a lot of uncertainty, cheryl and lauren, as to what happens next but at this point what we know is there has not been a debate on this bill. Thats still to come and the protesters say theyre not done yet. They most likely will be back on the streets over the weekend. Back to you guys. Lauren thank you very much. Cheryl well, back here at home, democrats jumping all over President Trump for comments he made in an interview with abc news. The president said he would consider accepting information on his political opponents from a foreign government. I think i might want to listen. Theres nothing wrong with listening. You want that kind of interference in our elections . Not interference. They have information. I think id take it. Cheryl the president said he went necessarily alert the fbi if a foreign country approached his campaign with opposition research. Democrats ramped up impeachment calls, forgetting that the Democratic National committee paid a british spy for information back in 2016. Lauren all the layers that are unfolding. Opponents to a Citizenship Question on the 2020 census asked the Supreme Court to wait until the fall to decide the issue. The aclu wants the court to send the case to a lower court to consider newly discovered evidence suggesting the question was added for political purposes. This is after President Trump asserted executive privilege to keep secret documents about the Citizenship Question. I think when have you a census and youre not allowed to talk about whether or not somebodys a citizen or not, that doesnt sound so good to me. I think its totally ridiculous that we would have a census without asking. Lauren recall yesterday in the day earlier in the day a house panel voted to hold two cabinet members in contempt for defying the subpoenas. Cheryl other headlines making news this morning. A House Committee has answers for jon stewart a day after stewart blasted congress for inaction and the fact that many of the members didnt show up for a hearing. The House Judiciary Committee voted to permanently authorize the 9 11 Victims Compensation fund. The legislation now goes to a full floor vote in congress where its expected to pass. It then goes to the senate. A major recall at ford to tell you about, involving more than a million explorer suvs. The company says a problem in the rear suspension could cause drivers to lose steering control. Ford says one customer who experienced the problem drove into a curb. Luckily, no injuries have been reported. And james bond fans are going to like this one. A 1965 aston martin db5 outfitted with special gadgets for the spy will be up for auction today. It comes with tire slashers, machine guns, a bulletproof shield. They expect the car to go for between 4 million and 6 million. Thats whats happening now. Lauren lets take a look at futures this morning. We see up arrows. Dow gaining 80 points. Nasdaq up 34 in the premarket. But oil also boosting stocks this morning. Its up after two oil tankers were attacked. Were seeing a 2. 6 build in the price of wti this morning. Coming up, the eyes of the world on hong kong as protests there are revealing perhaps the inner workings of china. How can the u. S. Trust that theyll uphold any commitments they might make in a possible trade deal . And calling gloria. St. Louis goes from worst to first, winning their first ever stanley cup. That is certainly something to sing about. And maybe they will. When we return. Whoa. Travis in it made it. Its amazing. Oh is that traviss app . Its pretty cool, isnt it . Theres two of them. Theyre multiplying. No, guys, its me. See, im real. Im real he thinks hes real. Geico. Over 75 years of savings and service. Heannouncer more details incoming involving volkswagen and the growing scandal. Dissatisfied customers filing complaints against the german auto maker. Because a vision softly creeping left its seeds while i was sleeping and the vision that was planted in my brain still remains within the sound of silence in restless dreams i walked alone narrow streets of cobblestone when my eyes were stabbed by the flash of a neon light that split the night and touched the sound of silence your daily dashboard from fidelity. A visual snapshot of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. Lauren we are watching the impact of violent clashes between police and protesters in hong kong. Hong kongs Legislative Council announcing no time has been set aside for debate on the controversial extradition law. It appears to show the impact of these protests. Lets bring in riley walters, heritage policy analyst in asian economy and technology. He joins us now. Riley, good to see you. Good morning. Good morning. Lauren why isnt the ledg Legislative Council in hong kong taking this up. Its definitely something that carrie lamb, the administrator in hong kong, has been pushing. But i think these protests have had the effect of delaying the process of putting this bill into effect. Certainly something that they would like to see delaying this as much as possible, so i think to a certain degree theyve had some success. Lauren as the world looks at the optics of all of this, tear gas, riots, massive protest as connell just showed us, they will likely continue into next week, what message is this sending to china . Is there anything that the u. S. And the west can do here . I think for the people in hong kong, theyre sending a clear message that theres definitely a discord between the people and the Administrative Administration in hong kong, the ones that tend to be backed by beijing. For the United States, i mean, the way that we can help support hong kongs autonomy which has been coming into question, the concerns over their ability to maintain autonomy over the past few years, we can help support it by allowing it to enter into programs such as the u. S. Visa Waiver Program for example. Just ways to help incentiveize hong kong maintain some level of autonomy. Lauren the narrative coming out of china, and i dont think president xi is able or ready to fight two battles, the trade war and whats going on in hong kong, but the South China Morning Post is saying that foreign forces, external forces are behind these protests. Thats a clear narrative you hear from, for example, like state media coming out china. Its always someone elses fault when its clearly beijings influence and hong kong and their actions that theyre taking to try and gain more control over hong kong. Its pretty clear for the last several decades, hong kong has been a pretty stark pretty strong example of thriving democracy, a thriving free economy and so beijing doesnt like that. So they want to try and press against that as much as possible. Lauren riley walters, thank you. Cheryl lets take a look at how futures are trading on this thursday morning. Weve got green arrows after two days of losses. Youve got the dow up 84 in the premarket, s p up 9 and a quarter, nasdaq up 37. Do want to take a look at oil right now. The breaking news were following right now, two oil tankers attacked in the gulf of owoman p. The contract, 2. 62 to the you upside right now. Brent crude also p jumpe jumpedt report. Bernie sanders playing the socialism cardigan. He says President Trump hates it because it helps working people. But are voters buying that story . And does the idea of socialism drive you to drink . A new report reveals which americans reach for the bottle the most and the answer may surprise you. Lauren moms. Cheryl yeah. Keep it here on fbn a. M. Im walking on sunshine. Whoa. Im walking on sunshine. Whoa. Im walking on sunshine cheryl Bernie Sanders hoping a heart felt he speech about socialism will help him in the polls. That is the difference between donald trump and me. He believes in corporate socialism for the rich and powerful. I believe in a democratic socialism that works for the working families of this country. Economic rights are human rights. And that is what i mean by democratic socialism. Cheryl sanders trailing biden and elizabeth warren. But this is happening at joe biden looks to remind the American Public about his former running mate at every turn. When barack and i were [ indiscernible ] i call him barack. Cheryl that was one of the mentions. Are socialism or no, si no, sire key to winning the race . Lets bring in reporter joe simon. First to joe biden. He keeps bringing up the friendship bracelets, the dinners, the moments back in time. Is this a sign of how bidens going to run . I think so. If you follow bidens campaign, its relatively light on policy. In some ways, if President Trump wants to go back to a promised to go back to a better day with more manufacturing jobs and wage growth, joe biden is telling the American People lets go back to a couple years ago, you really like barack obama, right. Cheryl if you look at the message we heard from a lengthy event from Bernie Sanders yesterday, hes taking the other side, lets talk about the future and this country should be a democratic socialist country. Four in 10 people say they prefer to live in a socialist country. The message seems to be getting out there. But why . Well, i think obviously at least under the Obama Administration and towards the end of the Bush Administration the economy generally fared pretty poorly. We didnt have over 1 to 2 gdp growth for over eight years under barack obama. Were just finally starting to see growth now. And those numbers, the four in 10 americans who say they might prefer hprefer socialism, that o be younger people. Cheryl its interesting you brought up the economy. I was looking at a poll and 70 of americans say they think the economy is strong, the economy is good. But President Trumps Approval Rating is only at 42 . Why the disconnect . Why is President Trump not getting credit for a Strong Economy right now . If you break down his Approval Ratings in terms of who do you trust to oversee the economy, the gop tends to fare better than the Democratic Party generally and i believe if you look at trumps Approval Rating on the economy, its higher than his Approval Rating generally. The disconnect is that, well, frankly President Trump has a hard time staying on message. He gets distracted and a lot of his advisors say just talk about the economy, dont worry about what joe bidens saying. Cheryl based on the numbers we got yesterday, the head to head matchups between President Trump and some of the democratic candidates, the messaging may be the key to all of this. Joe, thank you very much. Appreciate your time. Lauren lets take a look at how investors are responding to the news weve been bringing you this hour, the reports of two oil tankers attacked in the gulf of oman, near iran. Yesterday, oil hit a five month low. Now its up 1. 46, thats 52. 60 a barrel, supporting the price of equities after two days of losses. Dow ne futures are higher by 80 points. Still ahead, a shocking report on how much facebook ceo mark zuckerberknewmarkzuckerberg knee companys privacy problems. What this could mean for the future of the company and the stock. 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