this is "nightly business report" with triple header. dow and nasdaq and s&p 500 close at records. that's corporate earnings helped drive the big rally. tune in. two medicia companies reportedl in talks to co retirement insecurity. americans are losing faith in their financial futures, but there are some things you can do to change that. t on "nightly business report" for wednesday, jul. >> good ooempk and welcome. blue chip dow index join ed the

s&p 500 and nasdaq. results seemed recent enough for inhaves tors to buy up stocks and last year, we saw an earnings recession. now, with we have consecutive quarters of earnings growth. and companies increased their investments and hiring. today, the dow jones industrial average added 66 points to 12,640. nasdaq gained 40 and s&p 500 rose 14. >> a lot of corporate news came from the media industry, which is changing rapidly. scrips reportedly is holding discussions about selling itself to discovery communications. according to the "wall street journal," terms not known and there is no guarantee that an aba talks in 2014. experts say the two companies are trying to chart a new course in an evolve iing sector. in an interview ye surfaced, th

krerksceo of discoveat t relevant. >> we have a choice. we can hold on to our existing business or try and do some of these new forms of content or we can figure out how to disrupt ourselves. the question is not how much money, the question is can we be relevant on all platforms and if we are, then the, we rewarded by shareholders. >> the report sent shares higher. vi com rose on a report it may be interested. to see how the media sfri is changes, look no further than today's announcement that nbc news is is launching a twice daily news show on snap chat. it will be about three minutes in length. the show aims to connect with viewers who no longer get news from traditional television. nbc universal invested $500

million in snap's ipo and it is the parent company of cnbc, which produces this program. the entertainment business could undergo more changes if one media veteran has his way. julia boorstin takes a look at jeffrey catsenberg's plan to revolutionize television. >> he has an ambitious plan to reinvest tv from mobile devices and viewers. he's calling it new tv, original video series with shows of ten minutes or less covering everything on tv, news and sports to sitcoms and reality shows, but what makes it totally different is that the production cost and therefore, the quality, will be in line with top tiered tv costs. as much as $125,000 per minute. more than ten times what's spent on digital content. and with those higher budget, he says he has top hollywood show runners on board. such as jj abe rams -- and ron

howard. he tells me he'll be able to license custom content from all the top media companies. including disney, fox, cbs and lion's gate. he says it will take at least $2 billion to launch the service, so he says he's in active talks aj t fi a distribution partner who may help fund the service. y and my on the meetings he had understanding of the interested players, that includes apple, google, at&t, verizon, t mobile, snap chat and spotify. that partner will help determine the final business model. presumably, a free version with ads and a premium version for subscription fee. this would sound impossible come coming from anyone else, but his four decade track recog his dec run in walt disney studios and his role as ceo of dream works,

means his vision has a real shot. for "nightly business report", i'm jewelulia boorstin in los angeles. >> there's a big reason why they want to make changes. xabl tv is expected to lose more than a million subscribers in the latest quarter. if true, it would be the first quarter in which paid tv net losses exceeded the one million mark. the second quarter is weak, but the industry is also facing new competition from streaming services like netflix, hulu and youtube. let's talk more about state of television and where it may be headed. thomas eagen covers the industry for the advisory group. welcome. let's start with this poss a merger between discovery and scrips. we heard earlier, the ceo of discovery, say whatever happens, in the tv business, ultimately, after consolidation, the winners

are going to be the ones who are relevant digitally and who come up with new products for the digital multiplatform era. do you >> well, i think there's something to that. so, i mean, today, the networks had to fol where the viewers are. they're on mobile. as you know, ratings don't reflect that. so, networks aren't being paid for the mobile viewership. i think this deal is interesting. although we're not a huge believer in consolidation, this view is different and one of the reasons why is their brand resognates surprised if the two companies rolled out a lifestyle culture skinny bundle. they could put their networks in for around ten bucks. >> you say you're not a big fan of large content combinations. why is that? because it seems as though content is king. >> well, it's different than on the cable side. on the cable distribution side,

remember that 40% of their costs are just program costs. so if they can reduce those by ch cable, that makes a lot of sense. mr. amc, which was the smallest media company, had some of bit hits. here are two companies with well-known brands. travel, home and garden tell vig, the idea here is that they could create a mini bundle they could sell to whom for what kind of price? >> what we're hearing from consumers is they're trying to find a skinny bundle. all of them aren't successful, but if you put their channels together, you could corner thee science and probably price it at ab

>> one of the issues has been the measurement or lack there of on mobile devices, which of course then impacts the ad revenue, because there's no way to chart that if you can't give a reasonable kind of measurement, when do you or do u see that changing with the likes of nielsen? >> the affiliate fees are kind of flat to down a little bit and ad revenue was down. ratings are down. we think some of that does change in 2018 and '19 as more of the programser use the platform measurement and other methods. >> all right, thomas, thank you very much. we appreciate your time tonight. >> and still ahead, companies charge them and you pay them. all those fees. and they don

32 million americans would lose their health insurance under a senate plan to repeal the affordable care act. the nonpartisan congressional budget office. the number of uninsured would rise by 17 million next year. the supreme court gave the president a win and a loss today on his travel ban in the win kole yum, the justices said the administration could move ahead with plans to impose travel restrictions on a broad group of refugees from certain countries. but in a setback for the president, the court ruled that extended family members including grandparents, aunts, uncles of u.s. residents could

continue to travel here and were exempt from the ban. extended family was not a close enough relationship to meet the court's quote close connections standard. the court said oral arguments in the case for october soth. it looks like we may have a timetable for tax reform. in a radio interview today, paul ryan said the house will start drafting legislation to overhaul the nation's tax code when congress returns from its summer break. his comments come as the house panel debates the republican budget plan which was released yesterday and is the steppingstone for any tax reform. and mean tile, there's a timetable as well for the first round of talks to rework the north american free trade agreement better known as nafta. the u.s. mexico and canada will meet in washington starting the week of august 16th and at stake, about a trillion dollar worth of trade. reuters said the nations have

ayeed to seven rounds of talks at three week intervals in order to avoid next year's mexican presidential election. talks between the two world's biggest economies may have gotten off to a rocky start. leader frs the u.s. and china are meeting to di cuss some thorny issues. the talks got underway during day three of the white house's made in america week. kayl. >> president trump campaigned on getting tough on trade, and today, he highlighted counterfeit with with ceos that make coaster, gutters and pillows here in the united states. >> from day one, my administration fighting to bring back manufacturing jobs and to crack down on foreign countries that cheat. a lot of them. p and stand up theft of for our companies, our factories and our workers. >> at the same time, treasury

secretary and commerce secretary ross posted a chinese delegation as part of the two country's economic dialogue. issue, u.s. trade deficit with china. which stands at $138 billion so far this year. >> china now accounts for nearly 50% of the u.s. goods trade deficit. if this were just the natural product of free market forces, we could understand it. but it's not. >> chinese premier wong swept cooperation as the country's talks entered their 12th year. >> all defenses, but confrontation will immediately damage the interest of both. >> it's unclear exactly how the talks have proceeded or whether they've broken down over a specific issue. planned press conferences to be b held by each country were canceled within hours of when they were scheduled to take place. >> i think the chinese thought

this was going to be a meeting to establish broad plan for addressing issues over the next year. i think the u.s. expecting bigger concessionings for china. >> and one issue in particular,. a decision on whether to flock tariffs on chinese steel and aluminum imports to the u.s. >> profits flips at american express. the credit card company said the drop, which was smaller than expected spe to attract new customers and hold on to existing ones. revenues saw a slight gain and those results targets. shares in initial after hours trading fell, but they ended a day up at $85.93. and morgan stanley said strong performance from its wealth

management business helped the bank report earnings and revenue th surpassed estimates. they did see a drop in bond trading, but unlike it rivals who reported t was modest. shares rose more than 3%. to 46.62. mccormick will buy the food division of the british consumer goods company for more than $4 billion. in the deal, mccormick will add french's mustard and frank's red hot hot sauce to its portfolio. the hashares were off $2. and despite a drop in earnings, ww granger still managed top expectatio ex. the company also reaffirmed guidance for 2017 and its cfo is retiring at the end of the year. down 7%. 162.19. t mobile posted earnings in sales well ahead of estimates at the giant added more phone

subscriber who is pay a monthly bill. the company also expects the strength to continue and raises forecast. shares initially rose in after hours trading an finished the day up nearly 1% to 61.97. high er costst caused asset management f trust report earni short. they said it would establish a european union banking base ahead of britain's official departure from the eu. shares fell to 89.21 and select energy services, which provides water management to the oil and gas industry is merging with privately held rival lock water energy solutions. it's a deal worth half a billion dollars. shares of select energy services soared almost 20% to $14.92. united airlines beat earnings estimates and saw profit and revenue grow as we reported yesterday, but its outlook is weighing on shares

this day. t pacificr caught off guard b route, but the ceo says the airline is not off track. >> with regard to third quarter guidance again, i think united is firmly, i mean firmly, on the right path and a quarter does not make a difference. the simple difference is others have guided hire. prt of it is they're cycling some issues from last year and it's the forecast. united fell nearly 6% today ch. and united generates a lot of its revenue from fees. the most of any airline, but think aren't new report from id show that is the top ten airlines worldwide generate nearly half of their annual sale frs those types of fees. indicates there's a strong demand to pay extras for things like priy boarding, better seats and upgrades. the united kingdom made it illegal to charge customers a

few for using a credit card. the fees will be banned in that country in january. british treasury officiae cha c customers, but critics say banning surcharges will leave businesses to raise their prices to cover the lost revenue. in the u.s., a handful of states prohibit merchants from imposing specific charges. as some companies pile on the additional fees and others see from more businesses over time? will they become more relinlt on the fees? here to discuss is constance hunter. nice to have you with us, miss hunter. >> great to be here. >> do you think the businesses, i'd like to think they would be less reliant and we wouldn't get more fees. >> economists have been studying this for a while. the concern is that it reduces competitiveness and tricks people into buying things they wouldn't otherwise buy because they think the price is lower.

and the real crux of the m mandatory or optional. now, there is some competition that's pushing them, so you mentioned t mobile earlier, you may be aware of their ad, it's a little girl with a lemonade stand and it cost a dollar, but people walk up, she says, oh, that will be $2.80, they say why is that, she lifts the fees and it's an advertisement for a fixed price phone service. that drew more customers to t mobile in this most recent quarter. so, there is competitive marketplace, the pr b is, that when you look at airlines for example, if you look at total revenues, these types of fees can be anywhere from 2 to 9% of total revenues and those that are charge iing s are often competing of not goinu the extra fees. but airlines aren't the only industry, there's hotels, 16r rm hidden fees and mandatory resort charges, so this is something that's rampant everywhere. >> i think the difference as you

point out, is the idea that some of these fees are mandatory and unavoidab unavoidable. a reso if you're not going to u the resort. >> or if you don't know abou it. >> wt it seems businesses have done is fillet the customer. really mastfully. particularly, the airlines know th. a fee and get it reversed? >> well, that i'm not an expert in, but what i am an expert is whether or not this hampers come pettiveness. there's a lot of research that says it does. so you're going to see more governments examining this. there's some bodies in the u.s. that are beginning to examine certain as peblpects of these f and whether or not they should be lifted up front. there's regular lations from th regulatory body that says you've

got to lift these things up before the person buys the ticket so then they can compare across different airlines. i think you'll see more regulations. >> quickly, are you surprised that the airline, united is the number one, that they general are rate so much of their money of their bottom line just from fees? i was surprised by that. >> i think the study you sent e differently. it's 2 to 9% from the specific fees. that they receive in revenues. when you compare it to hotel, they're receiving 16%. so, the report you sent one of the things they talked about was fees from other sources, such as partnerships with mileage and stuff, so if you break it down just into the hid l fees na the customer pays, that's much lower amount. still something there would be a backlash against.

thank you very much. >> tell us about your least favorite fees on our website. write us. coming up, whether you're a ma len yal, mid career person, ik me, there are things -- not you. more secure b about your retirement a survey shows the u.s. is falling further behind ore countries. the u.s. didn't crack the top 15. it came in at slipping three knop notches from last year. european nations dominated the top spot. norway, number one. switzerland, number two. iceland and sweden, number three

and four. the countries that ranked the best benefitted from strong program, accessible health care. me lineals may be hurting their retirement security. and that could be costing them over the long-term. we took our cameras to find out what you think and many agreed. >> i fear that kind of like gambling when it comes to stock markets because it's unpredictable and you don't know. why it's something that i don't really look into or anything like that. >> you don't want to put your your away then you hear that the market crashed. and your money goes into where ever. >> right now, investing for my retirement. i'm o okay with doing it now though.

just little bit higher percentage. >> those who put their savings just a bank account will end up 40 years later with 3 to $4 million less than if they ma here to talk about what you can do to feel more secure about your retirement. no matter your age. the investing retirement specialist with nerd wallet. we're going to nerd out here, ariel, the it's going to be fun. let's go age group by age group to tell me the kind of things you advise people to do to grab b their retirement savings by the throat and start going. start with the start out people, age 22 to 35 or so. >> when starting out, the most important thing you can do is get a match if you have a 401(k) at work. that's free money.

you want to take advantage of it. your employer will match your contributions as long as you're contributing. then once you've done that, you can consider contributing elsewhere. so an individual account, a roth ira is often great for younger workers. they have a lopg time for their money to grow. >> now, let's, we have some other tips on screen. don't let student loans push off. now to tips for people at the midpoint of their career and you say put savings for retirement above almost any other goal. >> yes, so there are a lot of competing priorities at the midpoint of your career. you may feel compelled eled to saving for your children's college. you feel like you need to put them above yourself, but really, retirement comes first. there's not financial aid for retirement and there are a lot of resources for your children's college. the other thing is that you know, you may be see iing a lotf

raises and raises ary away from retirement. every time you get a raise, you should put extra in your 401(k). boost your contribution rate. ramp up your ira savings if you can. that's a great way to sort of increase your savings. >> i've often heard the same thing, if you can't bank your entire raise for savings this year, because you need to an tall, try and bank half it or try and increase the amount you put into your savings by 1 percentage point every year. that way, youth get up to where you need to go. say you're in my, more experienced demographic. with the, ten years or so until i might retire. what should i be doing q more. so 401(k)'s have catch up contributions, you get to save an extra a $6,000 a year if you're 50 or older. irz haas have a similar catch u.

save an extra $1,000. that's a great time to buckle down. it's also important to remain ined. a retirement time horizon doesn't stop when you get to horizon. you still need your money to continue to grow for you know, 20, maybe 30 years and so you don't want investing right when you hit retirement. >> i'm hoping it's groing to grow for 20, 30 years. thanks, ariel. >> thank you. >> it will. >> i hope so. >> certainly will. thanks for joining us. >> thanks from me as well. have a great evening, everybody. get saving. we'll see you tomorrow.

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