>> farmer? >> cisco just keeps rallying. >> smh way to play. >> mr. wonderful >> boeing, boeing, boeing. >> buying it on did dip. good stuff, guys thank you. thank you for watching. the dow up 80 points kelly and "the exchange" pick it up right now thank you, scott hi, everybody. this hour, boeing's big troubles the stock having the worst day since 2001 after yesterday's traffic inspector general crash. we will look at the fall yacht. also retail sales rebound and one headline that you might have missed. that should have investors concerned. trouble on the farm. chicken producers are coming under pressure for quality issues that's ahead in rapid fire. we begin with the market comeback seema mody here with the numbers. >> notable reversal for the market we were down 242 points for the dow and we are currently up 82 for the dow jones industrial s&p 500 up 32.

and the nasdaq higher by 127 in fact, speaking of the nasdaq, it is really the outperformance in technology that's helping this market rebound with s&p technology sector. the best performing sector helping the nasdaq 100 and the qqqs but boeing performing under pressure it was down 12% at the lows. it's come back only down 7%. still for boeing the worst day since january of 2016. and a number of its sum pliers like spirit aerosystems and hexcel under pressure. >> thank you i'm kelly evans. president trump unveiling his budget today calling for big cuts to the departments of state, transportation and epa. overseas china with a sharp drop in investing last month. retail sales dropped in january. markets are shrugging it off for

now. bob pisani with more on the global slowdown and how stocks react. bob? >> hi, kelly there's two teems today. after a five-day losing streak we are finally getting a bit of an oversold bounce that's what i call it. particularly important to see the russell 2000, the banks, and the transportation stocks up today. these sectors especially weak since the beginning of the month with the transports down nearly 5% down 11 days in a row and see if we can break that today. second slowing global growth is weighing on earnings look at the shocking numbers there's a story clearly indicated s&p 500 companies with more than half the earnings overseas with greater downward earnings revisions so look here q1 earnings expected down 3.4% in the first quarter those with more than 50% of the sales inside the u.s. are seeing earnings growth. small but 1% positive those with more than 50% of their sales outside the u.s. are

seeing earnings down more than 11%. that is an enormous difference and it show what is a problem slowing growth in china and europe is posing for the u.s. multinationals back to you. >> a great way of showing it thanks. let's talk about shares of boeing now they're pairing the losses somewhat this after the fatal crash of a 737 max 8 plane in ethiopia, the second crash of that model in less than five months phil lebeau joins us with the latest they have recovered the black box? >> the flight data recorder as well as the cockpit voice recorder they'll start analyzing them whether it's a couple of hours or days, when investigators will be able to say, okay, we have a little better idea of what happened in the final minutes before this crash. some airlines, however, not waiting for the results and deciding to ground the 737 max 8s, whether it's the airline or countries like china saying don't fly this plane boeing is defending not only the

plane but the technology in the plane and some have been questioning. remember that following the lyon air crash in october, it was just a couple of months later that boeing was forced by the faa to clarify what pilots should do in certain situations, situations that might have been encounter bd the lyon air crew and we don't know in ethiopia. we don't know the crash of either crash at this point remember that the company reports orders and deliveries tomorrow and one reason why this stock has come back a little bit today, i say a little bit, is because people say, look, it's still a backlog of 5,100 737 max planes to be buildinging and continue building for the years to come and look at shares of american and southwest these are the two airlines that fly the max-8 here in the united states and there was some reports and still out there that some customers have gone to social media saying i'm not

comfortable getting on the max-8. both of the airlines are continuing to fly it and both say it's a solid aircraft. they're standing behind it we'll see what happens over the next couple of days in terms of this investigation, kelly. >> the 737 max as a series is extremely important to boeing, flown around the world. >> yep. >> this is the about 737 max-8 is that right? people focus on the max-8 specifically involved with these two crashes? because there are other versions of the 737 max out there. >> correct the max-8 is getting the most scrutiny mainly because it was the model that was involved both yesterday in ethiopia and back in october with the indonesia with the lyon air crash. that's the focus right now the max-8. you know, once they get these data boxes, that's when they will have a better sense compare. are there any similarities of the two accidents? >> right experts are seeing others and

some differences, as well. phil, appreciate it. let's bring in alan deal now. he's worked for the faa and the u.s. air force thank you for joining me. >> thank you, kelly. >> what do you think boeing should be doing about this situation, alan? how unusual is it? >> well, it is quite unusual they went through the same thing with the dreamliner with the batteries. you may remember an ethiopian and a japanese 787 dreamliner that had a battery problem the faa grounded the plane. >> did they crash? i remember that incident which was more complicated in a way. >> oh yeah. >> we are talking about over 300 deaths in 5 months >> yeah. this is a different situation an it's still just pointed out that they got the black boxes i think it's more like a week or two before we know the answers but they should be able to read that data very quickly to

establish whether or not there's a similarity between the ethiopian and the indonesian 737 max crash. if there is, i suspect you'll see the aircraft grounded temporarily but the fixes are not nearly as complicated as they were on the dreamliner, the 787 with redoing the battery box. a lot of mechanical fixes. talking about training and software here on the 737 max >> what i find interesting about that, though, again, you're saying this fix is not as complicated as for the dreamliner. alan, if this is a simple fix responsible for another plane's downing and we'll see, again, we are speculating here, but if it's that simple why wasn't it done are we just assuming that the fix really is that simple? if it is a fix, is it something that american and southwest and everyone else is confident that they're taken care of?

>> well, clearly, kelly, in hindsight boeing should have done a better job of informing the customers, the airlines that they might want to think about it they should go by additional training brazil is only company that demanded additional training for the pilots to fly the max aircraft, the 737 max. anyway, hindsight's 20/20. the faa gave boeing a pass on this they looked at the data. and thought it could be flown safely with these automated aircraft, a lot of times when things go wrong, they go wrong quickly all pilots flying the max-8 now know about the potential danger. the solution is quite simple you take your hands off the throttle and you throw two switches right next to the throttle so, you know, if you're about to

board a max aircraft i don't think i would run down the ramp and demand to be deplaned. the pilots are probably aware of this but certainly, boeing and the faa need to address this long term whether or not this latest event was caused by the automation. >> you know, the fact that this happened first with a lion air flight and then ethiopian, i think americans wonder if we can assume that the u.s. training is better or somehow if that's the reason why nothing like this happened in this country from what i read about the pilots involved in the ethiopian flight, they're very trained, had an extremely good reputation as an airline overseas so this is not necessarily, you know, someone who's flouting safety regulations and not up to speed. they seem to be extremely diligent. >> yeah. ethiopian has a very good reputation for both maintenance and training

lion air not quite so much especially on the maintenance end. both of these airlines are expanding and with ethiopian it seems to have been a much more methodical expansion and owned by the ethiopian government, this airline they're willing to throw money because they want to be one of the -- well, they want to be the primary carrier airline in central africa so i don't know that we'll find a training problem or a maintenance problem with ethiopian although the last time they lost a 737 in 2010 the ethiopians criticized for not providing crew coordination training to the pilots we have to wait and see. that's what investigators do they'll be very meticulous and need to get the word out very quickly after reading these black boxes. >> so, alan, you said -- i just want to make everybody clear on this people shouldn't be running down the ramp the other -- trying to get off the plane if they realize it's a 737 max-8

you think as things stand today right now everybody boarding one of these aircraft is safe? there's nothing about the aircraft itself and the systems that they should be concerned about? >> if i were going to fly, one of my relatives, i'd see if you can't get on another flight. only flight to peoria and molly is sick and that's the only way to go, get on the airplane it's -- very unlikely -- >> not a ringing endorsement. >> yeah. you know, if you can fly a different type, different model easily, change your flight otherwise i would -- i wouldn't stay awake all night worrying about it but i do think the government and boeing needs to take serious action of a software fix and pilots are trained wu once you practice this in the simulator it is almost automatic. you need to practice it.

i think they need to require training kind of like brazilian authorities did for their pilots. >> all right alan, thanks so much for your time today tough story. >> thank you, kelly. and here's what else is coming up. >> coming up, retail rebound after december's shockingly bad report january sees a rebound. but one area saw the largest drop since 2014. we'll dig into the numbers. trying to raise revenue? one expert says taxing the wealthy isn't the answer he's got better ways. and imagine not being able to travel because of your poor social credit. we'll explain ahead. so with xfinity mobile

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and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need, and still save hundreds of dollars. do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $250 back when you buy a new samsung galaxy. click, call, or visit a store today. welcome back retail sales had a nice bounce back in the month of january although it wasn't by much talking about 0.2% which beat the estimate of no change but it remains a december to forget for retailers and december this is the holiday season, the sales number for that key month revised down to minus 1.6% let's bring in ceo of storch advisers welcome. >> great to be here. >> we haven't seen a december that bad in a long time.

what is going on >> they revised the numbers down a lot going on i believe the people, the commerce department knows how to add and must be the numbers that they have but there is a lot going on you have a lot of people going bankrupt those are totally gone zeros in retail sales. the reported numbers from a lot of the big retailers superb. target, walmart, costco and amazon huge numbers so it is hard to get from those numbers to the number that is we see from the government. >> this report includes nonstore ie online retailers. it is supposed to -- more than encompassing the mall stores with autos and dealers and what's happening with the auto cycle is a separate story and one still tells us something about the consumer >> one, the gap between the winners and the losers is growing. if you are a winner, you are

doing great and we have seen spectacular numbers where people made the investment and growing. the losers, they're in big trouble. they're going out of business. closing stores different world. on the overall consumer front, the consumer was incredibly strong last year and no doubt there's some weakening but she is still there and she is still shopping. the only number is the auto sale and only thing looking at that number is keep in mind last week of january was the polar vortex and a lot of people do not go out and go car shopping in zero. >> that's fine it's a flukey and interesting it was revised down and not revised up once the full data and then that didn't happen. and then we turn to 2019 some ways we are off to the races again even though the gdp number for the first quarter doesn't look great so is this because of the transformation of retail perhaps it's something in

the numbers is not making up >> a lot of change, growth on the internet a lot of growth in particular even faster than first party on the marketplaces on amazon's marketplace. they grew like 30% plus in the last quarter etsy, huge growth. wayfair. nu numbers so hauge. >> when we talk about the losers in retail, you mentioned the big winners but the bankruptcies of stores like gymboree, toys r us, leveraged buyouts of years ago not panning out because they didn't see this trend coming which to me speaks to the idea of being really careful if you go that route. >> right. >> who else do you think could be close to the line here? >> anyone who's an lbf from that era is in big trouble. these are smart people, again. they were done when they were cash cows.

almost impossible not to generate cash on the store level on retail. they could throw off cash. pay down the dead quickly and move on. instead the internet and the recession at the same time you know that huge recession hit and then the companies way over leveraged. they had to spend capital for the internet and didn't have the money. >> they talk about how much dry powder private equity has, you know, probably understandably wary of where they put it to work right now that kind of makes sense jerry, thanks. >> pleasure. tomorrow's the deadline for a key vote on, yes, brexit but we'll have the latest on whether the uk is headed for a hard exit at the end of the month coming up. shares of apple climbing today. why the bank is saying the tech giant is a buy at sll to come in today's "rapid fire.

welcome back here are some of the movers this hour the fang stocks are up nearly 2% or more. facebook among the winners after getting an upgrade to buy. facebook shares just under the 2% level right now mellanox in the green, nvidia buying it. it will be the largest acquisition ever for nvidia. energy stocks are also moving

higher today among the topper formers in the s&p, oil rallying 1% devon up 4.5 and apache up over to sue herera for a news update. >> hello here's what's happening. president trump is proposing adding a user fee. this is part of an effort to reduce the use of these products by teenagers the fee could bring in as much as $100 million jix he vie's strauss plans to have an initial public offering giving the company a value of $6.2 billion. the stock is expected to be priced between 14 to $16 a share. the shares are expected to be listed on the new york stock exchange under the symbol levi. a drug bust at the port of new york in new jersey last month yielded nearly $80 million worth of cocaine officials found over 3,000

pounds of the drug packed into 60 packages inside a shipping contain container. it was the second largest cocaine bust ever at the port jix 23 and me announced the personal dna test kit will include data on users' genetic risk for diabetes. outside experts say it could prompt patients to see a doctor if they realize they might be at risk you are up to date kelly, back the you. >> thank you very much 30 minutes to go until "power lunch" and joined by melissa lee. boeing was the story before it was the story. >> so many questions around this story, kelly, but the big question for viewers is should they fly these planes? and you might want to hear from somebody who, say, headed the national transportation safety board before about this issue and that's exactly who we have jim hall, former ntsb chairman says actually that boeing should ground its max 8 flights that the burden is on the

airplane maker we'll hear more from him and another expert and for investors is this -- i mean, this is a deadly crash but could this be an opportunity because if you look at how the stock performed since october the stock went on to rise 100 points on the back of it to new all-time highs so could this be the entry point for what has been the best performing stock this year. >> such a juggernaut here's what's ahead. ahead, consumer concern begins about boeing's planes tesla's u-turn why one company wants to say good-bye to curlers, cologne and conditioners. and, are chickens getting too busty? it's all ahead in "rapidir fe.

welcome back let's catch you up on a few stories should be on your radar. here with their takes are contessa brewer, bill griffeth and kate rogers. hello, everybody first the deadly crash raising safety concerns for commercial air travelers. people talking about the fears

of flying on the same type of plane involved here. 737 max 8. a traveler tweeting southwest, which is one of the two u.s. airlines that uses these planes, why don't my reservations indicate the air type? i don't want to fly a boeing 737 max 8. another asking american if it's grounding the max 8 planes citing concerns for her husband's upcoming flight. also, guys in the prior case 737 max as a line is much bigger than the max 8. >> yes. >> what do you make of it all? >> let's first acknowledge the more than almost 400 souls that have been lost as a result of the two crashes. one time is an accident. two times is a coincidence third time is a trend. are they going to wait for a trend to do something about this i heard your analyst last half hour was hardly endorsing people getting on a max 8. >> no. >> so there are 350 max 8s in service around the globe right now. it will be a disruption, an inconvenience. why don't we just bench them

until we know what's going on and then everybody can feel safe. >> it's a branding problem for boeing because if it's nothing to do with the boeing plane itself, we don't know yet. we don't know what caused the downing of this plane. >> absolutely. >> there is not a rush to wait and see on the part of the flying public. there is a rush to determine am i safe if you see plane crash and boeing in the same sentence all over social media, this is a real problem, a crisis in communications for this problem. >> kate, i was thinking about this happening in the social media era when misinformation is so quickly spread and we know there's a problem, whether it's truth or fiction people kind of see first and react and then get the full story. >> absolutely. you both made great points we should find out what the problem is ground them all and what you said about this branding issue for boeing how do they communicate to the public that really matters but as someone that flies all the time, i never really look at what type

of aircraft i'm traveling on so i'm curious if people will start inquiring and want that information. >> are you traveling this week >> probably the next two weeks. >> would you look at the type of plane? >> i might we all to have get on planes and travel. >> senior producer, traveling thursday and first thing she did was look to see, it's an airbus and feels comfortable getting on the plane taking her children with herf right? >> they were deemed safe after the first crash. the second time is a coincidence. this could be a coincidence and yet you have this rush to judgment on the part of the flying public that it's something about this particular plane. let's look at automobiles. you don't automatically look at a volkswagen just because there was a crash on the highway and say, oh, are you safe? you figure out what happened there. >> com air is grounding the max

8s to get the information as we can. >> probably a good idea. >> yeah. let's talk about tesla changing course on its recent strategy shift the company's now saying it will keep open more stores than previously planned it will raise prices on vehicles by about 3% on most of them to offset the cost of doing that. it won't impact the $35,000 model 3. i wonder if this is in response to the mall owners saying, wait, wait, wait you have leases with us. >> i mean, the bigger issue is, let's face it. tesla needs a ceo, an adult. okay there, i said it i'm a big fan of elon musk as an innovator and he can be the chief innovation officer let's go with like they did at google and facebook and bring an adult in to become - >> look. this company, it's a difficult one. i take the point an engineering issue

a correlation of how many stores to keep open and the cost of the cars is. >> this looks like just a rush to announce something dpbig and dramatic i feel like there's an intent to keep tesla in the news and the headlines. >> we talked about this last week many people, i think mike santely brought up the idea that people want to test drive the cars then they still want you to order them online and, you know, making a big purchase is not something i'm super comfortable with. >> i like the fact that mall operators, they said we have our own problems and can't have you closing stores kate, this is for you, in particular helen of troy to unload the beauty business and shifting to housewares and health. so we have talked about the other trend which is, you know, when procter & gamble, for example, put amazing numbers with beauty. why are they unloading the business look at the brands

revlon, bed head. >> brute cologne. >> not your favorite brand >> stuck in the '60s these brands are still around? >> i think two things are happening. we have talked about the trend of higher end beauty products and people spend more and more money on that. myself included. you get an experience. that's different from the kind of experience at the drugstore buying these another thing pointed out in the articles is people care about what's in their products and the natural beauty products are more and more popular and make sense of why they want to do this. >> the housewares portfolio was -- >> i want to know if you have pert sold off and other companies. coti, cover girl and -- but who is going in and buying the company that makes pert? i mean, where's the buyer for all of these - >> $300 million. >> take it right? >> housewares business, i was

going to say, has more -- what i think is upscale brands. oxo. pur. the beauty portfolio doesn't reflect that. >> no. >> what were you going do say? >> we are moving on. >> shares of apple on the rise today after bank of america upgraded the stock to buy from neutral. raised the price target to $210. they're saying that the current price presents opportunity for investors. they're not buying that the declining hardware sales are going to continue to be a problem. 3.5% gain for apple to offset the drag of boeing. >> a kind of a company that you don't buy for a gain for tomorrow this is a five-year stock. right? maybe even a ten-year stock. and you've gotten a 26% decline off their most recent highs. i mean, i eenl n'm not here to y apple. that's scott wopner's area

maybe this is right. >> that's the way berkshire hathaway looks at it apparently too. >> growth in health care and wearables and something that tim cook has pushed. with the partnership of va and health records and to see more of. >> working hard to make it less of a hardware and more of a services company. >> looking at the weakness in china that you might see that the u.n. rebounding and might help the chinese central bank is very intent in getting in there and addressing some of the slowing growth in the economy. so that might turn around the fortunes in china. >> they said watch the area even over the weekend not the best data but saying watch that for a tournament finally, a new report of "the wall street journal" highlights the race to breed chickens that grow faster and develop bigger breast muscles. consumers complain of squishy,

stringy and leatheryfilets the industry is dealing with this issue. >> i'll turn to the resident chef, bill >> yes i mean, i have run into the problem of woody breasts that you can find in the store. i have never had the stringy breasts. this is more than i wanted the know about how they breed chickens out there when you read that the - >> there's the picture. >> i can't see it. >> meat scientists said they suspect the rapid rate of commercially raised chickens may lead tissue to exceed the oxygen supply provided by the developing circulatory system and on and on and on there's a science to this i know but just put it on the shelf i will say it's interesting. you know, wendy's and the other fast food chains insisting on getting the slower growing chickens why? because it's a better meat you get. >> whole foods saying, what about animal welfare

that's a dirty word in the business world. >> it's very good business. >> the animal activists are excited to see this because one of the things they have said is it's inhumane breeding animals for the big, huge this is ls and tilt over and other physical problems in the past it makes me want to go vegetarian. >> there you go. woody, stringy spaghetti. >> don't see that on a menu, do you? >> not really appetizing. >> it is not. >> wendy's, this article we read, said they spent $30 million in higher cost to move away from the issue and i think they know it's a branding problem and someone said biting into this tastes like leather. >> did you eat a woody breast? >> i'm careful picking out chicken at the supermarket and times in the past i get a woody breast, you have to throw it away you can't eat it we can all make the junior high

jokes here >> chick season a few thing to agree on in the house. that's not going anywhere. contes contessa, bill and kate, thank you. >> bye. >> bye >> see ya. democrats in the 2020 race seem to agree on the need to reduce inequality. why taxing the wealthy is the wrong way to do it and alrnivteate measures one that elizabeth warren might even like. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. no matter what you trade, at fidelity whooo! want to take your next vacation to new heights? tripadvisor now lets you book over a hundred thousand tours,

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welcome back massachusetts senator elizabeth warren calling for the makeup of big tech if elected president to protect the little guys. she unveiled a plan to tax high net worth americans at a higher rate but an article in "the wall street journal" said that may not be that effective. let's bring in the writer of it. good to see you. >> hey, kelly. >> there's so much to dig into as a writer these days every day seems to give you a bunch of new things to pick

from tell us, basically the wealth tax you don't think will actually work if it's put into practice is that right? >> it would work but not as well as the authors think it would and maybe not as well as other ways of taxing the wealthy take it from the beginning, which is is there a wealth inequality problem look economists can't tell you if there's a right or wrok level of inequality and no dispute that it's risen for example, between - >> talking about wealth or income inequality? >> both risen and wealth inequality has risen income is what you earn from the salary and the investments wealth is how much money you accumulated or inherited and a legitimate concern of wealth inequality it's a key to owning a home, investing in a college education, an ability to respond to a financial emergency and something like 80% of american families have less wealth now than before the last recession.

>> which, greg, as we have talked about, my problem is that then people's wealth peaked because of the housing bunl bbli a way that's unsustainable can you go back 25 years i'm sure -- how much of that reflects the housing boom and bust >> a little bit. if you went back further in time you get the same trend which is that over time the wealthy continue to do much bet i thtern those in the middle. since 2007, wealthiest 10% saw the median wealth inl crease 25%. so essentially you have seen those depending on stocks for wealth did very well and those with the wealth tied up in the home didn't do that well you can see that the wealth tax has this like residence. feels like a surgical response to inequality growing the most. >> there's two responses you mentioned. one of them was actually something that elizabeth warren is talking about suggesting it's

monopolies themselves driving inequality and maybe we should be looking at those. which i thought was interesting. an interesting turn in the column the other had more to do with capital gains and death. >> if you ask yourself why is wealth so high, companies are so profitable an the people that own shares in the companies are doing so well. why are corporate profits so high one of the reasons is we seem to have a monopoly problem in the country where there's not much competition and companies whether the hospital or retail sector or -- definitely not yahoo or google or facebook seem to do really well and bringing a tougher anti-trust oversight to the pockets of monopolistic competition is a way to spread wealth better. to go to the taxation route, the problem of taxing weather is that it's like going in the opposite direction of where we have been for 20 years trying to encourage capital formation and in theory is good for investment

and wages. why not take a careful approach? there's, for example, people do not know a lot of wealth in the united states never pays the capital gains tax because passed down from one generation to next and one thing to do is tax the unrealized gain in capital at death. and that would raise a lot of money and probably not much effect on the behavior of wealthy people they won't think about the money after their dead. >> i think -- i'm thinking a lot about this, greg we are out of time but if people who may find ways of skirting it or think why can't i pass this on to my kids,i think your freudian slip is interesting, the companies of microsoft or walmart back in the day or, you know, if microsoft hadn't reinvented itself for the cloud, the smartphone came along. >> i know. you are making the point they don't last because the economy is dynamic and might be right.

however, a couple of points. microsoft's monopoly didn't last because there's tough anti-trust enforcement against it we had, for example, before facebook myspace, before google like mosaic but those companies spent far fewer years at the top than google since then and looks like the positions are lasting longer. >> i think less long because if you look at the number of the top market cap company at the top at&t, it was years, ibm it was years and now all of a sudden you have amazon and apple and microsoft all vying day in and day out and it's on the top for a shorter period of time than they used to be. >> well yeah but most of them they would have been in the top ten or top 20. how many times have we written off microsoft? the monopoly continues to be lucrative. >> they're yelling at me we have to go. >> okay, kelly. >> thank you so much, greg

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welcome back this week brings another period of intense political pressure pe from british prime minister theresa may as the latest brexit deal must be put to a vote by tomorrow a brexit version of chutes and ladders, take a look. >> reporter: several months ago, theresa may negotiated an agreement for britain to leave the uk members of the cabinet have shuffled between brussels and west minister is trying to make tweaks to the deal so the house of commons can finally approve it march 29 is the current deadline for brexit less than three weeks away how can may get from here to there? by march 12th, she must

parliament another up and down divorce agreement with or without revisions. if lawmakers approve it, and still try to make brexit happen by march 29th. but it's possible she might need more time to rush through all the necessary legislation in which case she can ask for brief exten extension to the deadline with an uncertain end date. if her deal loses the first vote, may is promised a second separate vote on march 13th. that could allow parliament to decide whether they have the uk exit the deal, just not may's deal or no deal. if no deal wins the majority, then without any comprehensive arrangements with trade, customs or citizens rights, britain would still leave the eu on march 29th if enough lawmakers like that option, guaranteed the third vote on march 14th to consider a possible extension if that idea wins parliamentary support, the uk would ask them for more time to consider its

options. theresa may wants to limit any extension to three months but not clear whether the eu will suggest more time than that, demand less time than that or offer no time at all if that third vote fails on march 14th, the uk could be back to square one. >> i thought chutes and ladders was an american game bill marks joins us. the three votes this week, each one more and more important. if she doesn't get supportby the last one, a hard exit or still at that point get an extension from the eu? >> it would have to be another parliamentary process beyond that whether they'd offer time for non-government ministers to table motions. it gets incredibly complicated essentially, what you need to know is heading to strasburg

tonight, one of the second cities where the european parliament sits where the president of the european commission is right now. expected to meet we're also expecting to hear from her later on this evening and indeed, tomorrow morning, ahead of the debate here in westminster. what's going to be really important is whether she's able to get any kind of change, an interpretation of an agreement already signed up on the northern irish backstop. that's something her attorney general fighting for over the last few weeks and a lot of members of her own party insisted must happen for them to swing behind the vote and allow it to pass >> i think that's all of it, willem imagine being able to buy a plane or train ticket due to poor social credit that's the reality for se om people in china. that's up next on "power lunch." . . and we'd like to put a fire pit out there, and a dock with a boat, maybe. why haven't you started building?

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shann shannon leow >> thanks for having me. >> 20 or 30 or 50 times to buy a plane or train ticket but tell us what we're talking about. >> so it's since last year in may, the chinese government said that it would start to ban people with poor social credit from buying plane or train tickets and now, the numbers with us, to have a better idea of just how many people they banned 23 million people have been banned as you said, they could be the same person but that's kind of unlikely that the same person would just buy tickets >> not the one person 20 million times in between what is social credit in china, what do i do to accumulate a social credit score of one type or another >> so the chinese government in

2014 liened out a legal framework to try to build more trust in society and try to help people figure out, you know, what's their financial score and are they, like, defaulting on loans? are they scamming other people and giving other people a better idea of like who in society is a fraudster and so that's the kind of founding idea of the social credit system. and to get a low or poor social credit, you can just, as i said, evade taxes, scam other people >> breaking the law. so in a law, it would be, in the u.s., it would be the equivalent to you show us if you have a record or on your driver's license, if you accumulate points or something like that. one of the concerns people have about this system is, could it be used to restrict free speech and police the behavior of the population in other words, if i insulted the communist government, which i presume is a crime in china and that goes on my score, it's not on there

does that make me a person who can't get on a train or plane or have access to other kinds of services >> right, it's very likely those kinds of crimes would end up affecting your social credit and lead to you being banned from transportation also, the case that those crimes are already considered crimes in china, so you might already just be landing yourself on the blacklist in the court, so the court has a public blacklist if that's the case, then you already see a lot of consequences for your actions. this is already part of like a larger punitive system china already has in place. >> by 2020, china aims to of a file on every chinese citizen including all the data on their behavior my last question, should the international community be putting more pressure on china not to move forward with a system like this or to pare it back with actual crimes, not relating to the regime >> right, so i think the international community has already, especially like human rights activists or, you know,

watch dodo watchdogs, they already put pressure on china to do better with citizens. the province who are sent to camps and mistreated and so i think there are those sentiments already out there. it's just a matter of how much more pressure can they put on china. >> shannon liao, thank you for joining me time for "power lunch. >> we'll see you in just a moment, kelly. i'm melissa lee with tyler mathisen boeing down this hour. another fatal crash with the most popular jet just how safe are these planes and how big of a problem is this going to be for boeing going forward? this historic bull market turns ten. keep calm and carry on what investors should expect from here. and apple rallying big today all the negativity now priced in "power lunch" starts right now