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tv   FBN AM  FOX Business  August 16, 2018 5:00am-6:00am EDT

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har -- harmeet dhillon and chris farrell. thanks for being with us. good night from new york. >> we've been to boy scouts internationally on the trade area and replayed by the rules of president trump is trying to make sure in the scheme of international trade others play by the rules, too. lauren: china finally playing by the rules. trade talks with the u.s. are back on. the breaking news on the trade for tat. train to more trade for ums to take tests for private and secure funding just secured in an sec investigation. what is next. lauren: u.s. stock market futures get a nice job this morning on news that the u.s.-china trade talks restarted.
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the dow up 101 points. s&p up one, nasdaq up 41. train to mostly lower in early trading, the early losses prepared a report that china had agreed to renew trade talks with the unit dates at the nikkei, shanghai, kospi all in the red. lauren: and in europe, across the board this with the in london that half of 1%. train to apple set to unveil three brand-new iphone. we've got the inside scoop on what you can expect, including the price tag. "fbn:am" starts right now. lauren: at 5:01 a.m. in new york. thursday, august 16th. a little friday as they call it. cheryl: it is little friday. i'm cheryl casone. we've got a lot of breaking news to get to this morning, folks. this is big.
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trade talks are back on between the united states and china. china's commerce ministry statement will send a delegation to the u.s. later this month to discuss economic and trade issues between the two countries. this would be the first high-level talks in july after the two countries thought aliens of dollars in tariffs on each other's goods. lauren: sonny perdue speaking of fox news that u.s. tariffs on imports from china and elsewhere are necessary. >> china has not been playing by the rules for years and we've allowed year after year for them to get away with that. frankly, we've got barriers across the world not just in china, but the european union. lauren: schiavo is speaking to people. terrorists are like weight loss when you started guide painful to start with pitcher healthier in the end. cheryl: very true. elon musk may have run security
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law spirit charlie gasparino broke the news that the sec has subpoenaed the company taking information from tesla's board of directors. a formal investigation of the company is underway. board members are scrambling to do damage control. independent directors have lawyers represent them during the inquiry. shares of tesla fell 3% on news that that subpoena. we will have more a little later on in the show. >> president trump revoking former cia or john brennan. >> mr. brennan has recently published his status as a four high-ranking official with access to highly sensitive information to make a serious unfounded and outrageous allegations and wild outbursts on the internet and television about this administration. trigger the president pointed to brennan is one of the people he believes is responsible for the russian investigation.
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this is what the president said. i called the raid which on. this action is part of a broader effort by mr. trump to suppress freedom of speech and punish critics. the president has ordered a review for nine others to have security clearances including national intelligence john brennan and michael hayden. train to president trump reportedly wants to relax the rules on u.s. cyberattacks. i mean in order to reverse its restrictions from the obama administration on the use of cyberweapons against our enemies. it is not clear what the new rules would allow, but the trump administration has come under pressure to show it is taking cyberthreats comes racially those posts by russia seriously. lauren: new york's governor andrew cuomo under fire after critical remarks about united
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states. >> we are not going to make america great again. it was never that great. we have not reached a greatness. we will reach greatness when every american is fully engaged. >> you can hear and you did hear the crowd groaned. now walking back those comments hours later. the governor believes america is great and that her greatness will be fully realized when every man, woman and child of full equality. america has not yet reached its maximum potential. president trump training soon after, can you believe this is the governor of the highest taxed state in the u.s.? andrew cuomo have been a total meltdown. could come back to haunt the governor his epic and cynthia nixon in the upcoming new york primary. trying to an investigation
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underway into what caused a major power outage at reagan national airport. the lights after an hour of darkness last night. impact in inbound and outbound flights. passengers left waiting for their planes and luggage with the light off. backup generators to provide some life. >> retailers reporting earnings today. wal-mart in jcpenney this morning. wal-mart is a dow stock in the world's biggest retailer is expected to report a sharply higher profit a year ago. investors watching for whether the company's online sales have been able to sustain themselves with amazon dominating the web. >> after a string of disappointing quarters, cooper may finally getting back on track financially anyway. >> the details another headline making news this morning. even though as a private company it is not required to do so.
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its financials improve in the second quarter. quarterly revenue was to point a billion dollars up 63% over the last year were cut it off to a 391 billion a year ago. he said in a statement going forward we are investing in the future of our platform. maybe this means we'll finally see the ipo coming in 20 team. >> t-mobile offering free parts to customers. >> t-mobile partner at the pandora media and live nation to win over customers without having to discounted services. t-mobile will give one year to existing customers who sign up this month through its t-mobile tuesdays out. subscribers will get initial seeding and perks. a little incentive they are.
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lauren: what is best by doing? >> in $800 million deal for senior citizens. best way wants to increase investments that address the needs of older people. cheryl: apple coming out with not one, not to, but three new icons. expect to according to trend for us, all eyes will be on a six-point one-inch iphone that will be called the iphone nine. that pricing is in line with the four by seven-inch iphone e. an updated version of five pine eight inches for $8.99 -- $899 to $949. the eightfold acts plus would be
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a six-foot five inches at $999. cheryl: a lot of consumer complaints that it doesn't work early well. maria bartiromo just that i'm done. >> when you get the first generation of a new phone there is always some bugs. a lot of people are waiting to see what the new upgrades bring. cheryl: thank you very much. we'll see you a little day. lauren: how far has elon musk really gone with these tweets? what the really means to take these plans private. we might not know if there's life on mars. soon there will be home on mars. advocating the red planet ready for human mission. stocks doing good this morning. gallup 97 points. s&p up nine and nasdaq up 38 in the premarket. ♪
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cheryl: welcome back to take a delicate features this thursday morning. right now pretty strong pick up to your market. s&p up a .5, nasdaq up 36 and a quarter could to break in his overnight china the u.s. reigniting trade talks. more on that later.
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this headline this morning for the death toll in the highway bridge collapse in italy up to 39. fears are mounting that another part of the bridge could also come crashing down prompting authorities to widen the evacuation zone and has forced hundreds of residents from their home. prosecutors focused their investigation on the collapse of possible design flaws or an adequate maintenance. >> smoke and ash are drifting as far east as new england. carbon monoxide is being released in the atmosphere and is also traveling needs. "fbn:am" will have more in the have more on this later this morning. brain think he will be on "mornings with maria" 7:30 a.m. eastern time. what a house on the road than it could look like. five winners of the 3-d printed habitat challenge.
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teams were tasked with designing 3-d printed houses for future visitors. the idea is to send a robot to mars to build the homes for use when astronauts eventually arise that the rest of us. the sec has subpoenaed ramping up an investigation into the claim was secured funding to take the electric car maker private. what does this mean for mosque, tesla and shareholders. we bring in misty merits. what is the risk for everybody involved? >> first, lauren, now you've got the sec starting a formal investigation by serving the subpoenas. they are going to be looking into whether or not the funding was actually secured. from elon musk for spec to come
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if material misrepresentation is the ceo of a company. not only does he find the company to the misrepresentation that you're going to find yourself in a situation where where the sec doesn't have to prove intent. they will look at the statement that funding is secured and significant financial implications. lauren: we know when you just dated how they can certainly take a wrecking ball to this company. but will they asked the question. listen to what charlie kast arena told neil cavuto yesterday. >> it's fairly existential to tesla as you know. he's not quite the founder, but the driving force behind it. the sec knows harpooning him is not good for the stock. one thing i will tell people as i don't think they want to put the company out of business. >> you think you'll let them fly? >> i'm not sure they will let it slide because the fcc does have an interest of ensuring from a
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public good that they're enforcing the rules. that's really the purpose. they doesn't necessarily mean that it will be a company take down. this could be anything from a sanction to a case filed in federal court. also that doesn't leave out the possibility depending on what the sec fines in the context of their negotiations. more problematic is the civil lawsuits filed by the shareholders regarding what they say is market manipulation. lauren: wondered elon musk is saying to himself i shouldn't have said that tweet. let me ask you this a little in the weeds. can the company still explore or go private while the sec investigation is going on? >> certainly, but the sec investigation is going on whether there's truth to the statement that financing was secured. if they have the plans in place or were going to look into the option, though certainly still can be done.
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it's a little more complicated process lauren. there is more to it. i meant that focuses on producing cars and making money now all of this creates an added risk. thank you. we've got a lot more coming up this morning. there is still really send site for the firefighters file in the california blaze. the new threats that could spark even more fires. and then there is this. this superman stunt man be grounded, but a busy highway going viral. you are watching "fbn:am."
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cheryl: lightning storms with more wildfires in parts of the west. lauren: janice dean live with the very latest. good morning. >> ladies come unfortunately they will get thunderstorms anything that would be a good thing, but so dried that the water evaporates before it hits the ground and ephedrine lighting which could spark more wildfire dangers. the heist at a very warm dealing with potential for not only the dryness that the high heat and not getting that moisture. some across the southwest, but it can to dry thunderstorms are going to be really high danger today, especially across the northern rockies where we have elevated fire danger. some of the thunderstorms across the southwest not getting into the areas we needed. too much rain across the midwest.
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ohio valley tennessee where they could get several inches. we are looking at a pretty good weekend here in the northeast and a much better week ahead as we can into next week. >> we might have a little bit of rain on saturday. the next week cooler temperatures and not a lot of humidity. cheryl: love it. thumbs up, janice dean. lauren: stella had come you may want to wait before you have your breakfast this morning. a new report on what may be lurking in some of your favorite breakfast cereal. and they look at the new modern make donald. what it means for workers. china trade talks are back on and stop features are searching 105 in the premarket. you are watching "fbn:am."
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>> it's a little bit like weight loss. if you're overweight and it wanted that it's painful to start with pitcher healthier in the end. that's exactly what president trump's message and goalless. cheryl: the diet may be working. the trade talks with the u.s. are back on. braking is on the trade for tat. >> drive to take tesla private retreats on secured funding may have just secured him and sec investigation. >> future is just getting a jump as you can imagine on the news that the u.s.-china trade talks. future is really popping today on the news. s&p up nine and three quarters or nasdaq up 40 and a half.
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>> you can see the shanghai composite and china down two thirds of 1%. cheryl: europe is open unable to react to the news that her god in china with the trade talks. all of the green. >> the new way it is spicing up the menu. "fbn:am" continues right now. we are coming up on 5:30 a.m. in new york and it is thursday, august 16th. good morning, everyone in cheryl casone. lauren: good morning. i'm lauren simonetti. feeling spacey this morning. big breaking news will resume trade talks with the u.s. and germany progress be made between the two countries.
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conservative columnist kristin tape. liking what were seen as you can see the dow triple digit on the news about trade talks. it looks to me they are charting to bow to the pressure of these tariffs that we have already begun to impose on them. >> absolutely. the economy grew by six by 9% last year projected to shrink a bit busier. six by 5% growth will continue into 2019. it's in the best interest that they do negotiate with the u.s. and reopen the line of communications as well as the trade. cheryl: this is something president trump has been very upfront and honest about this negotiation. a tweety put on when the about this. next thing you know we get the talks. the terrorist are now leaking of
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two great new trade deals as opposed to horrible in unfair trade deals i inherited is your president. other countries should not come in and steal the wealth of our great u.s.a. no longer. as the president's plan working? >> this is definitely a good sign. we saw trump's tactic work with the e.u. however, fundamental difference between the u.s., e.u. and u.s.-china conflicts. trade between allies. the second is more of a structural conflict is centered around china's rapid technological advances that are really built on flagrant ip theft. there are some differences, but i'm not surprised china has come back to the table. meanwhile, china's economy is plummeting, faltering, the stock market is going down in any kind of recession could lead to civil unrest which would be a nightmare for china. >> exactly.
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that's a good point. you mentioned the economy they are. were already seen the pressure is already effect in their currency. they were devaluing their currency and fairly. we always find equal playing field with the chinese in the yuan. now we might get it. >> absolutely. that's one of the four things will be focusing on. obviously to bring down the tariffs, to reduce the pressure in order to review a lot of the intellectual property. also, to open up to foreign markets to companies. bring it back to pre-take care from the negotiation. the chinese basically had been lowering their currency to offset the effects of the potential terrorist that the u.s. to push it back a. >> i don't want to jump too far add your talks aren't even on the books yet.
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we know that someone on a lower level will come over from china. that's all we know at this point. what about differences in the admin is ration. you've got the trade representative but on the other side. light has there the one putting up the stairs and were scheduled to have midterms put in place august 23rd right around the corner. would you make of the political split we see in the admin is ration? >> i suspect it's a good thing to have people in the administration approaching this from different angles but we don't go to extreme one way or the other. one thing they all can agree on is that leveling the playing field so that it's truly fair to both parties. it is really not just a win for the u.s., but for china as well. you need to have threats of a full-blown trade war otherwise china has no incentive to play fair. these are all good developments, but we've really got to give this some time to see how this plays out.
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>> i don't want to have to play more from a burglar alarm for seafood. good to see you. thank you for being here. >> rake in news this morning for the president revoking security clearance a former cia director and trump critics john brennan and he might not be the only one. covert operations officer mike baker joins us now. i'm so excited to talk to you this morning about it. what do you think the president's motive was here? >> b. optics certainly looking at it from an outside. john brennan has a right to say whatever wants to say. that is protected under the first amendment. his talk is essentially unprecedented when you look a
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other former directors have behaved. i can't get inside president trump. he got to a point where john brennan had probably stepped over a line in turns out his criticism became more of not just criticism, actively working against the current administration. >> is he a national security risk? >> no, no, i don't think so. we have to be measured in this. i think we would prefer that john brennan be more circumspect about what she says and seniority. also greatly preferred the president were more discrete in his public comments in tweets. that's not going to happen. that's not where we are.
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do i think john brennan is a security risk? no, i do not. i would prefer to have seen him be much more careful and do other directors have done. this is something the president told "the wall street journal." bring in a cia chief is one who presented an evidence of russia's interference in the election. do you think this move was petty by the president? >> i think you can make an argument that it was in reaction to the things that john brennan has said. the interpretation could be that it was a long time coming and he gave them enough. that's all speculation. they get lost in these
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back-and-forth about these two have been fading. it's definitely bizarre. it diminishes both the position of the director of the agency in the position of the president. i prefer it not be played out like this in the public. at the same time as john brennan he doesn't have a right to a security clearance. that's a bigger picture rather than this particular individual. it's the process of the clearances. and the administration over the years as a courtesy has allowed the former senior individuals to lead and retain their clearances. it's not necessarily an important matter. john brennan didn't have a security clearance and is to come back and talk to the current direct your about a
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specific matter that he has inside him. it takes 15 minutes. sit down up a conversation conversation. that's not a critical part. it is economically viable for people to have clearances. lauren: mike baker, we have to end it there. thank you very much. cheryl: a chemical found in weedkiller has been linked to a variety of breakfast foods. lauren: tracee carrasco joins us with more on that another headline news. i don't think i want to know. >> this is alarming. the environmental working group released to test the popular vote make breakfast. to see if they contain any of the herbicide quite good shape which is in monsanto's roundup weed killer and at high levels has been linked to cancer. in 43 of the 45 cases they did
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detect the quite toasty. they were but the organization's benchmark of 160 parts per billion what they think it's safe. however, it is commonly used by farmers across the industry who apply it to pre-harpists. one of the brands tested are significantly below any regulatory limit and compliance standards for consumption. this all comes as monsanto paid $289 million to a cancer victim who claimed roundup was responsible for his illness. >> pic on the issue and the issue e-mail posted to the credit. a marijuana-based drink could soon be on the way. >> the maker of corona just invested another $4 billion in a company called cannabis group.
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this follows a $209 investment to produce nonalcoholic cannabis-based beverage. the dealers expect it to close in october the same month it becomes legal in canada. lauren: the next story about taco bell. they got a new item. >> if they do. after the success of the natural price, taco bell with the rattlesnake fries talked with nacchio cheese and pickled jalapenos. there they are in your screen. even at 5:38 a.m. french fries named after a hot pepper seasoned with ranch sauce. add in nacho cheese. both of those available for just a limited time.
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>> growing up in arizona, taco bell knows how to do it. thank you very much. >> sticking with it you do your next trip to mcdonald's might look a little bit different. we wanted to see how exactly the company is spending their money. >> welcome to the modern mcdonald's thanks to $6 investment by the company and franchises to 14,000 of its restaurants. you can enjoy table service, skip the drive-through for curbside pickup and five dozen mcdonald's have teamed up to deliver. >> you're likely to the kiosks where you can custom the order. >> what about pastries? some are selling things that chocolate coffee cakes.
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it didn't feel like a mcdonald's table service. a full coffee bar. mcdonald says they're not abandoning their brick to flipping burgers or they're just trying to stay relevant. of the kiosks threatened to displace the human workers, but donald had workers will help customers in other ways. no one has lost their job yet because of this. turnover rate in the fast food industry 150%. some are not interested in some of these changes are they haven't been trained on the technology for things. we just want to remind you minimum wages are growing up in many cities in many states. this could be an added cost for donald's. we will see how it pans out in the end. i don't underestimate. don't go anywhere. a lot more coming up.
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elon musk probably has a lot in this place right now but that's not dropping him from trying to help the l.a. dodgers. major coin in philadelphia. it's outrageous. taking a look at features all higher under renewed china trade talks. coming up, look at the war and the dow was up 15 in the premarket. ♪ too cold for camping? too hot to work? nah. this is the gator xuv835. with game-changing heat and air, it's never too anything for anything. ♪ ♪ build and run apps anywhere you like,
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trained to look at chicago but what is happening now. a higher open. dow up more than 100 points. the white house is slapping sanctions on companies for breaking north korea. punishing three businesses in one individual from russia, china singapore. accused of shipping cigarettes, alcohol and oil to north korea which is a preacher sanctioned meant to put pressure on the regime's nuclear programs. mattress firm may soon be a will to rest easy. a major supplier of master firm reportedly is in talks to take over the company teetering on the edge of bankruptcy. concern about $100 million in receivables that would go unpaid mattress for one under. take a look at this extremely
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rare nickel that discussed four-part $56 million on action. wonderfulness five ever produced at the third philadelphia mint and according to experts this one is the best of the bunch. no word yet on who the buyer is, cheryl. cheryl: that's a lot of money. wal-mart, speaking of money and spending money. the world's biggest retailer reported earnings this morning. the marks group with us to give us a preview of what we are looking for. jan also a columnist for "forbes." we are kind of curious how much money they spent on building their online personal against amazon. what he thinks going to happen there? >> for retail as well, first of all this quarter, most retailers have been reported increased sales and profits. consumer spending is up.
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we will be seeing an increase in sales for the past quarter. earnings will definitely be interesting to see. you pointed out are they going to catch up to amazon when it comes to being online. they are spending hundreds of millions of dollars. they purchased companies like jack.com. they just did a big deal with microsoft to host all of the data with microsoft as your platform. they didn't have more artificial intelligence and better delivery in buying. will this start to pay off? i believe will see that impacting earnings when they report that today. cheryl: they spent so much on the technology and infrastructure. i want to move on to a couple of their names will appear before the bell this morning. jcpenney and mid-level player. one of their biggest competitors seems to be cole's. what do you make of jcp?
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>> jcpenney has been struggling the last couple years. they've been lagging behind calls as well. unloading sound. most analysts than i myself for not acting be anything very exciting this quarter. sales are said to be a little bit down. all the other retailers out there. home depot, nordstrom, wal-mart will be lagging. cheryl: i'm glad you brought up nordstrom for the stock is up 13% year-to-date. they're a little bit on the higher-end as far as their goods, the clothing and everything else. people still want deals. would you say about nordstrom? >> when you compare nordstrom to the other players out there come it seems like all the attention is on the low cost people, the wal-mart, all of these and dollar general. they've been keeping their very, very good and making use of
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square footage is spending a lot on refurbishing there is yours as well. nordstrom like wal-mart have been doing quite a lot online as well. we'll be seeing some investments pay off sometime in the future. cheryl: great to see on the show. come back soon, sir. >> thank you, take care. cheryl: one of baseball's hottest pitchers teamed with the first pitch. it clears the benches. ♪ where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com.
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>> is time his boring company
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covered the name of her proposed in the tunnel to dodgers stadium. the dugout group would stretch from east hollywood to the stadium that report six miles ideally reducing the trip that would normally take you an hour. they reduced that to less than four minutes for los angeles mayor back in the privately funded object and expected to take about 14 months to complete. >> staying with the sports and baseball. sportsmanship and not at sportsmanship and not at its best at a baseball game last night in winter. lauren: we say good morning to sunday but that story. >> baseball's best story this week has been up in been up in the first 20 road rookie ronald acuna, junior. last night trying to tie record duplicate this. cheryl: laid off its fourth game in a row with a home run. but he never got the chance. the first pitch of the game for miami marlins got drilled in the left elbow. fastest pitch he's thrown this
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year. 9745 miles per hour. braves manager rejected. but the game and were negative. for every action there's an equal and opposite reaction. some nfl players continue to protest during the national anthem. pro-police group bluelight smatter has taken any of it someday turn into a partnership partnership offer from the new york jets. the founder of bluelight smatter stated in a letter if you like this is not the right time. they are still entitled to disrespect her first responders, military members with past and present and our flag. their issues are made up come exaggerated more times than not false. the nfl preseason begins tonight. a rematch of the super bowl between the eagles and the new england patriots. gavin evert got the surprise of his life yesterday. cheryl: make the hoosiers team listen to coach tom allen.
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young man just got himself a scholarship for all the hard work he has put in. work ethic pays off. congratulations. he's an indiana man. >> awesome story. sports reports on fox news headlines 24/7 sirius xm channel 115. cheryl: china ready to resume trade talks this morning. we're going to london when "fbn:am" can tenures. ♪
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cheryl: china-u.s. talks are back on. later this month, scott shalit he is here. i don't know. seems that the chinese are starting to react to tears having an impact. would you say? >> the president's got some goodwill capital to spend here and they can draw this out because the leverage is becoming more and more powerful his way through book what's happening and to put currencies are doing around the world. was this make this as simple as possible. it will be less than forever. the sooner we get this sorted
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out the better. it just can't say the same as it has been in the volatility we see in the market. how long will this play out? the shorter term is better for markets in the longer this plays out the worse for the market. it's all about the timing. that's as simple as you can get it. lauren: will. lauren: real. lauren: will quickly come to test. lauren: real quickly, tesla back in the news this morning with the sec investigation, subpoena, what do you think? >> i don't think the sec will look under the hood and say it all okay. when they're involved there's going to be something to come out of it. it's a gamble. if god be careful right now. lauren: shares are down. scott shellady, thank you so much. cheryl: guess who's back in the driver seat and words with maria. lauren: one more morning. neil: i do? you lose track of time. thank you very much. you are focusing on i am neil cavuto in for maria bartiromo.
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shall be back next week aired that focuses on trade and what's going on. interested in having a chat in the united states is enough to reverse markets kind of stagnant moving up on the news that they are going to have chat at the low level that might go to a higher level. but at least they're talking of looking to by the end of the month and iron out some of the differences. what they agree to and how they agree to it about each considers to be a victory is always in the eye of the beholder. we will get into that in the next three hours. i'm okay with that. let's take a look at what's happening on retail because wal-mart is reporting. as to whether what is happening from macy's, both out with far better than expected earnings. always the worry of what it be done for me lately or what could you do for me in the future that was weighing on both their shares. we will see if patrick is complete today.
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the futures pointing to again just on the idea that the chinese in the american could be talking on trade once again. asia, more concerned with what is happening in turkey because it continues there. we obviously have a better way of dealing with it for the time being. former state department spokesperson, "wall street journal" editorial james freeman and cfr investments cottages lindsay doll. we wanted to get your thoughts on mixed message in the markets. issue more worrying still that turkey obviously has to be convinced that the chinese stocks are going to be real. what do you think? >> turkey is still a concern that focus on the talks we will have turkey.

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