Exclusively at the company thats got the target on its back. Its a fox business exclusive you are going to see whats inside this company. And mysterious deaths at an island paradise have tourists thinking twice or even backing out of booking a visit to the Dominican Republic. Weve got the ceo of one of the worlds Biggest Hotel chains here to tell us how his company is dealing with the Public Relations and security nightmare. On wall street, energy and health care pushing the market slightly higher as we await the big Federal ReserveRate Decision on wednesday that charles mentioned. Dow jones industrials up 26 points. S p better by four. The nasdaq up 54. Less than an hour to the closing bell on this monday. So glad youre with us. Lets start the countdown. Liz breaking news. Reuters now reporting that Deutsche Bank is planning to restructure its entire u. S. Equities business, leaving only a skeleton operation in place. We knew over the weekend that they were going to make big changes but sources now say the move is a bid to turn around germanys biggest lender. The shares hit a record low this month. They are right now just barely higher by a quarter of a percent. This is a 6. 81 stock. Germanys biggest bank right now pretty much a shell. If youre looking at the actual share price here, no word on how many jobs will be affected but over the weekend the news was that they would create a separate Balance Sheet for all the bad assets. Right now, word is they are going to restructure the entire equities business. Stocks are stuck in a narrow range overall as investors put up their proceed with caution signs on the investing road this week. The reason, well, the allimportant central bankers meeting here in the u. S. That begins tomorrow. Fed watchers eagle eyed for clues of Interest Rate easing or at least the word that they may look forward to easing. Even the most eagleeyed art aficionados didnt expect this at a sothebys auction last year. Remember this . Famously, the anonymous artist banksys girl with a balloon painting slowly shredded and disappeared the minute a bidder won the work of art for 1. 4 million. Just shredded right there. Done. Now sothebys itself is disappearing as a publicly traded company. The stock is on track for its best day ever, up 58. 5 right now after fair usa offered to take the premier bidding house private. 57 a share. We are almost there. Its at 56. 12 right now. If you back up to fridays close it was a 61 premium. The enterprise value of the deal, 3. 7 billion. Big move. Telecom magnate is the name, drahi, behind this. Drug maker pfizer buying array biopharma, 48 per share. We are at 46. 18 right now. Array up 56 . Pfizer is paying a 62 premium from fridays price for array to gain an edge in colon cancer therapy. Pfizer right now is flat on the session. To washington, d. C. Arguably, the biggest business drama in the country is playing out right now inside that building, the International Trade commission. Retailers from kenneth cole to new balance, roku, all pleading their case before the u. S. Trade representative. In a frantic bid to stop the Trump Administration from slapping new 25 tariffs on an additional 300 billion of chinese goods which include 3800 different categories from mobile phones, laptops to clothing to toys and footwear. Hundreds of u. S. Firms are going to sound off about the impact of that move over the next seven days before it kicks in. We got a sneak peek thursday of what their argument would be when we obtained this letter sent by the National Retail federation signed by 661 companies and associations, and while they encourage the president to push for a quote, strong trade deal and yep, be tough on the chinese, the group wrote this. We believe this goal can be achieved without taxing americans. Tariffs are taxes paid directly by the u. S. Companies, not china. We urge your administration to get back to the negotiating table while working with allies to develop global enforceable solutions. The senior vp of government relations, david french, is gearing up for his own appearance before the trade representatives on friday. David, welcome. This sure is turning into the Comment Period heard around the world. Whats going on inside the room . What are you hearing right now . I think a lot of witnesses are testifying that tariffs are taxes, tariffs are painful. The pain is felt by americans. Its felt by American Consumers, american businesses, american employees, and tariffs are not the only answer to solving the problem with china. Liz well, the administration isnt exactly showing its hand. They are listening for seven days, then there will be i guess you could call them rebuttals for seven days. You know, the president has said multiple times, hes pretty comfortable with dragging this thing out. Right now, we actually have a decent enough economy that were not sort of in a deficit and it looks like the chinese are getting hurt more than us. Why should we not fight this battle . Well, tariffs are a loselose scenario. We should fight this battle. This is an important battle. But tariffs arent the only way to do it. Look at all of our trading partners around the world. They similarly have problems with the way china does business but they are not joining us. We should have allies around the world focused on solving this problem in china. Instead, they are getting access to the Chinese Markets that we are giving up. Liz you mentioned the word allies. This letter said we should work with our allies. Wasnt that sort of the goal of the tpp, transpacific partnership, which was a bunch of asian and south Asian Countries banding together with the u. S. Ex china. Was that sort of a veiled comment as if to say why did we pull out of the tpp, that would have been the best way to take on the chinese, or a better way from where you sit . Certainly the tpp offered a solution to help supply chains find locations other than china to help manufacture products. We have a lot of allies in europe who would benefit from changes in china. Right now, they are benefiting from our unilateral approach to tariffs. Liz heres what i dont get from your side. Let me push back here. I dont love tariffs, either, but everybody says electronics and the tech business, they are the ones who are very much victimized by i. P. Theft. They are the ones that need to see this change. So are you guys, are you not . In the retail industry, how many times have we seen the chinese knock off outfits and dresses and clothing and purses and things like that . Why wouldnt you want the chinese to suffer enough so that they finally cry uncle . Because the American Consumer and american businesses will cry uncle before the chinese. Liz really . Because thats not happening at this moment. We have theres a lot of jobs at stake. If the president continues forward, if tariffs are imposed at the 300 the next list of 300 billion, we project two million jobs are at stake. The average American Family of four will end up with 2300 in higher costs and lost income because of this. These are real consequences and we have a great economy right now. Job growth is good, the economy is strong. We dont want to disrupt that with a loselose tariff strategy. Liz 1600 comments have already been sent in. All seven days, today is the first of these days. Youre up on friday. What will you say that hasnt already been said . Certainly a lot of what everybody is saying is very similar. We are going to ask for a list of long list of items to be excluded from this because these items are not available elsewhere other than china, and the consumer will feel the pain. These are certainly views shared by many of our colleagues around the u. S. Economy. Liz david, thank you. Keep us posted. Well be watching for your testimony. David french of the National Retail federation. You guys saw that the schoomah k makers are selling off and thats important because shoe makers had tariffs slapped on them after what was called the smoothawley rule. To the markets. We are actually seeing green on the screen at the moment. Dow is up 47. Could we soon be saying as new york goes, so goes the rest of the u. S. Economy . Take a look at todays Empire State Manufacturing index, sort of the sister to the philly fed index. Gives us a sense of Business Activity in new york state. Things look like they have taken a sharp turn for the worse. The index dropped 26 points to negative 8. 6 for june. Thats the first negative reading in more than two years and the worst drop since they have been keeping records for the empire index. This follows a week of investor flight to quality. Take a look at golds move over the last week. You can see at the moment, it is selling off just slightly after a 15month high hit on friday. All right. So to our floor show. We bring in our traders. Is gold still the trade or is it treasuries as we wait to find out what the fed will do on wednesday . Lets get to our floor show. Gold expert, rbc wealth managing director along with traders from the cme and New York Stock Exchange. George, slight selloff today but we came off our lows once the empire index came out and showed really weakness. Whats going on in gold . Usually we pull back just before fed days. We always have [ inaudible ] about gold prices before the fed on the second delay of their deliberations comes up with something that surprises everyone. Today, we have seen a real interesting mayjune with u. S. china trade collapse, brexit, may resigned, north korea fired missiles, u. S. mexico tariffs. We have had two tankers damaged and the ag world has suffered because we have had very bad weather starting last year with puerto rico and texas, florida, california fires and now this year, we have floods and dead planting. So next year, we may have inflation that no one has really thought about. Im looking ahead, i think gold will start a new range on the upside and i think that new range would probably be 1325 to 1375 in the long run. Liz okay. Well see. We need to see the 1375. We are kind of around 1325 now, phil. As we look at treasuries, that was a big trade last week as we start toed to see the price of treasuries go up, yields began to fall. They are not much higher today. Theyre really not. A little bit of the backoff of the fed Interest Rate increase, you know, the rush to raise Interest Rates, we saw a pullback today. That hurt georges gold today. We are getting closer to dday where the fed will send its message, no, theyre not going to raise rates this week, but we are going to get a real good idea whats going to happen in july. I think thats what the market has been pricing in. When you get numbers like the empire state index, when you see the slowdown in china, it does raise those concerns. It does put that risk on situation. Even though i think sometimes, the market gets too upset about one month, you know, amount of numbers. You can overreact to that. But really, when you look at whats happening right now, going into the fed meeting, the economy is still strong, and i do think the fed will signal another rate cut. Liz okay. We shall see. We have 2. 08 on the tenyear, we have gold at 1,342. Scott redler, down at the New York Stock Exchange, you are up at bat for stocks. Is equities the real place to be at the moment . You have seen over the course of the last week, the s p has digested a big twoweek move. Twoweek move was based on the fact that the fed started to price in three rate cuts between july up through 2020. All the data is confirming we are slowing. The question is how fast will they cut rates. At this point, traders are taking it week by week at this point. 2874 is the level that needs to hold in the s p cash on wednesday. If that level holds, maybe we see a commitment to the last move and above 2910, believe it or not, we could be on our way back to the 2954 high. At this point i think traders are trying to figure out will upper commitment stay or will we roll back down. Liz s p at 2893. Good to see you. When we come back, we now have an eighth death in the Dominican Republic. What does that mean for the travel industry there . We have the ceo of one of the biggest and highest ranked hotel chains in the world. Hes here exclusively next to tell you. 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What we dont like is relying on fancy technology for help. Snail mail we were invited to a y2k party. Uh, didnt that happen, like, 20 years ago . Oh, look, karolyn, weve got a mathematician on our hands check it out now you can schedule a callback or reschedule an appointment, even on nights and weekends. Todays xfinity service. Simple. Easy. Awesome. Id rather not. Liz disturbing news out of the Dominican Republic that could slow or temporarily paralyze Summer Travel bookings. At this hour, at least eight u. S. Citizens have now died after visiting resorts in the Dominican Republic, with several others claiming to have been either poisoned or attacked on the island. While the d. R. Is one of the most popular travel destinations in the caribbean with more than six million tourists coming every year, what sort of ramifications will these mysterious deaths and illnesses have on the tourism and Hotel Industry moving forward . Our next guest is responsible for 4,200 hotels and resorts globally with brand names holiday inn to the intercontinental. Ihg america ceo here live in a fox business exclusive. You guys are doing something right. None of these deaths have occurred at any of your properties. But we are very interested to know what you see in bookings in and around the region in the wake of this. First of all, its unfortunate and our thoughts and prayers are with the affected travelers and guests. We have three hotels in the Dominican Republic, they are operating safely. We have had no incidents. I have been there over 20 years taking care of guests safely. So we have not seen an impact to our bookings and to the market and have not seen an impact to bookings in the greater caribbean region and the greater latin american region. Overall, while this is an unfortunate set of incidents, travelers can be assured that the Hotel Industry, travel industry, is well regulated, safe and they can have confidence. Same confidence i have that our hotels, those of the industry, are safe places to travel for business and for leisure. Liz the reason we ask about the impact, its just anecdotal everywhere. This weekend, three different people with whom i was having conversations said im not going to the Dominican Republic. Look, we know bad things happen everywhere. I get it. But when you look at Something Like that and hear this rash of issues that seem very mysterious, do you as a successful hotelier, do you look at this and say we need to change protocols or shift anything . Look, we have very tight rules, procedures, processes, for the safety of our travelers in our hotels, around each of our facilities. Yes, we do monitor the situation closely to make sure everything is being followed properly. But we believe that this does not have a longterm impact on the industry. Our hotels in the Dominican Republic are operating safely. But to talk about the impact on the industry, i want to give you some recent statistics. Tsa just predicted this Summer Travel will be the highest on record and airports are, get to the airport quickly and check in for your flights, memorial day was the highest travel day in the last 20 years. Its looking like a solid Summer Season across the industry while these events are unfortunate, overall the industry seems to be doing well and the forecast is for a pretty good summer. Liz yeah. Just to put everything in perspective, folks, i was reading some stats about it and they said 128 people over several years have died in the Dominican Republic. It happens. These are not natural deaths. Its been going on but suddenly, when you have a rash, people focus on that. I want to bring this up when you come to what the Hotel Industry really is. Its a great bellwether for the economy. When you see that kind of memorial day, what does that say about how solid the recovery is right now . Look, we have solid fundamentals in the economy, not just domestically but globally. Record low unemployment in the United States, rising wages, low Interest Rates, and growing employment in organizations. Corporate profits are still solid. Thats really the bedrock that propels Business Travel and Leisure Travel across t