has sweetened its offer to buy a rockwell automation and person is now offering twenty nine billion dollars or two hundred twenty five dollars a share of from its initial bit of twenty seven point six billion dollars rockwell which is based in milwaukee is a six billion dollar company with over twenty thousand employees worldwide and emerson which is located in st louis has been trying since august to make a deal and a statement chief executive david far said we were main convinced there is a compelling strategic operational and financial merit to bring together our two companies however it's unclear when rockwell's board of directors will make a final decision. the number of americans filing for unemployment benefits jumped up last week to children forty nine thousand which is a ten thousand per cent increase from the previous week the poor week average also rose by sixty five hundred however the overall numbers are looking strong for the past two years the level of unemployment benefits has remained under three hundred

thousand that puts the total near forty four year low but the labor department did warn that damage from recent hurricanes harvey irma and maria are still being felt in certain parts of the country on top of that jobless claims tend to be more volatile around the holidays. and norway's sovereign wealth fund might be dropping its investments in oil and gas in a letter to the ministry of finance the norwegian central bank wrote in the bank's view this will make the government's wealth less vulnerable to a permanent drop in oil and gas prices the banks analyses of the oil price for us in the government's wealth are based on the government's future oil and gas revenues the government's direct holdings and stadol oil and the g.p.s. currently the fund has about six percent oil and gas stocks but if parliament adopts the central bank's proposal that would be replaced by investments in other companies.

and now we go to the big data in the financial and business world it's a term that many have heard but how much do we really know about big data with computers and technology data processing is moving fast as the speed of light in capturing and analyzing it even storing all of this big data is that entirely new world and there's a new category of people doing this work with us is one of the foremost data wranglers in the world and that is the founder of penned those systems and c.e.o. pam peck citroen pam welcome. hello everyone how are you today fantastic you know it's so dicey to make time i know you're one of the busier people out there going to trade shows etc first of all people have heard this term pam about big data but can you explain it just in the aggregate not just in finance and then move into finance and business. yes absolutely and you know bart i do tend to

a lot of trade shows but the purpose of that is to get information and learn and to give you an example the context of big data i sat at a regulatory conference which i know you're very familiar with and within the first fifteen minutes on a panel i heard big data i take to talked about that word two thousand times by so i don't even know if big data is a thing but what we would be know basically if you think about the world of big data in a recent presentation that i gave you know in three years it is estimated that there will be more big data in the universe than there are stars in the sky so out amazon google just the amount of data since the inception of those that have been combined and the type of information that's out there on each and every one of us and all the organizations that are out there big data i don't even think is a thing anymore i think it's just in existence today. for all of us and it's

getting bigger by the day you know i want to talk about the value you and i are probably a year younger than i am but we probably remember judd clampett who was shooting up some food and from the ground came the bubble in crude and that was texas tea and black oil well what's more valuable now you have said in the economist as pointed out or oil or gold is data explain the value of data and what you call unstructured data. so just for a category let's talk about unstructured data because it's kind of the topic so when we talk about unstructured data it's something that every single one of us can relate to it's word files it's excel files it's p.d.f. files it's an e-mail file or the attachments that e-mail file it's even voice like this show right now somebody wanting to get particularly information out of us bart and so as we talk about but unstructured data today is making up over eighty

percent of the data that exists for instance in a financial institution and i know firsthand bar you know from you know your work with the sea f.t.c. and so forth that you were asking these large financial institutions questions you refining those questions to be able to get answers it wasn't that they didn't have the answers is that the data by which they needed to compelling get those answers were basically stuck and we have to be able to harness information out of that unstructured data to be able to get data if you know the answers that people need that pam you know you're absolutely right and i had this vision from the time that i you know opened my first bank account when i was ten or eleven the symbolism that a catch to a large financial institutions you know the gilded ceilings and the large vaults and i figured they always knew what they were doing and they really had a handle on everything and without talking about any particular company or large by

the actual as to tuition they really are sort of dated because they've got these old legacy systems that are in the back office talk about that just a little bit generically please. you know it well generically if you look at you know a financial institution right the processing systems that they've put in place have typically been there you know thirty years i was selling back office systems and many of those are still in place when i started my career thirty two years ago right so what's happened is is that the world has changed people have changed access to information has changed so those those big systems right have been supplemented you know and i would argue the biggest system on wall street right now bart is excel you know right we've taken all that alternative data that we need to store but you know what excel is unstructured data is combining information from various sources and it's hidden you know when i talk about we've got to start

making the data healthy right for restoring trust in the market is not about getting the answers it's about getting the information out of the data to be able to satisfy the questions because it's all there we just have to harness it get access to it and start delivering it in a fashion what challenge the pin what sort of people what sort of people is it a big your data wrangler but you've got actual cowboys and cowgirls working for you you know what sort of people are these computer scientist who's doing this actual work. you know in my environment we've got a combination of people you know i believe data scientists are you know the cornerstone to what we're doing we have computer scientist we have you know developers and programmers but importantly in any of these institutions all of these problems that we're facing with data have a vertical aspect so in addition to having some of the most brilliant data people we also supplemented those with financial people because it's the business people

that know the data but i would tell you i just told one of my friends daughters is a senior at the university that he's studying finance i said you've got one year left take as many data classes as you can to combine those with your financial degree because that is the future all right let's talk about one more thing before we go you and i spoke recently about something that i found totally interesting and it's the combination of unstructured data and artificial intelligence speak about that we've got about a minute left. one minute unstructured data is the fuel that will you know make a i happen. for all of us it's a great shiny object part and it is the future right but in order to get to that future artificial intelligence is not taking unstructured data so we all have to do together start looking at our data from a healthy perspective and in the in the years leading up to true artificial intelligence we have to start structuring that on structured data to be able to

fuel what will be truly the next revolution so i believe strongly in ai but there's a path to get there and the dangerous part is is we're starting at the top and we need to start the roadmap to start to fuel the ai revolution by harnessing our data and making that unstructured data into structured data i think you did almost exactly sixty seconds you're such a professional thank you. data wrangler founder and c.e.o. pen dos systems we really thank you for being with us and for him commend you for your success at pinto systems you're making the world a better place particularly the financial world thank you thank you barr great to see you. now it's time for a quick break stick around because when we return cyber security expert morgan wright explains how we can keep our online lives more private plus the u.s. house of representatives has passed a one point five trillion dollar tax reform bill by a vote of two twenty seven to five last conservative radio host steve malzberg

what's next for tax reform as we go to break here are the numbers that the closing bill. people using markets to wage war against country a country individual that individual and we saw in greece when goldman sachs and their buddies decided to tear down that country to rip it for billions of dollars of the profits john paulson we got goldman sachs to now it's spilling over into the crypto world and the geopolitical were all that's happening.

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the us house of representatives had passed a one point five trillion dollar tax reform bill president donald trump was on capitol hill earlier today to press the flesh and rally republicans and it worked only thirteen of the two hundred forty eight republicans opposed the measure joining all of the democrats in the house here to discuss the vote and the next steps the president trump hope will result in i find on new law by the end of this year is conservative t.v. and radio host steve malzberg steve thank you again for being with us you know the republicans must feel as if they've dodged a little bit of a bullet here. i mean if this tax reform bill had not passed it would have hurt a heck of a lot that said i recall when the house passed the repeal and replace obamacare bill earlier this year i think in may the president invited them all down to the rose garden at the white house they had a little party and celebrated perhaps

a little bit too early so how confident are you steve that the senate will pass a bill they'll have a conference committee they'll have a consensus conference measure and that something can actually get be approved by both bodies by the end of the year. well today first of all i love the optic of the president you know getting out of the car and walking up the steps and down the steps and through the halls to get to the republican caucus and then he met with them behind closed doors and it worked and it worked rather well with only thirteen republicans saying no. as for the senate i think when push comes to shove they will take this opportunity to pass a bill and then let it go to conference and see what the conference comes out with and then if there is staunchly opposed to it they have their opportunity to oppose it there ron johnson who came out yesterday and said i'm a no vote right now he says but i want to be a yes vote there are ways to work around this i just hope to listen and grow too long in the senate but i'm pretty confident they will at least pass

a bill and take it to conference i admired your optimism and i hope we get a good good tax reform bill you know that i know you're aware that the joint bipartisan joint committee on taxation came out with a report that said that people who are earning less than forty thousand dollars a year would actually see their taxes go up and twenty one that's important because many of us and myself and clued that bought that you know moving the earned income tax deduction from twelve to roughly twelve thousand roughly double that would help lower wage earners and that appears not to be the case with this do you think this will this decision or this report by the joint committee will impact moderate republicans like susan collins and lisa murkowski. well it's funny you mention susan collins in the same breath is this the reason for this according to orrin hatch and others and there's another non nonpartisan committee that's going to share their report in a day or two and this revolves around the senate bill and it does this in the

senate bill because they take into consideration the repeal of the obamacare individual mandate and follow me here very simply i hope a lot of low income people get subsidies for you know for paying for their obamacare so now a lot of these people just may not because under the threat of penalty they had to take health care or pay a penalty now a lot of people will say i don't want the health care i don't want to have to pay anything i'd still want to deal with that they'll suffer no penalty and this committee this this joint committee on taxation is saying they're counting this money this subsidy that they'll no longer need and no longer get that considering that is money being taken away from them and they are saying that increases their taxes so there's a lot of debate of what whether or not this is an accounting gimmick if you will or or if it's sincere well i followed you so two things one this joint committee on taxation i mean i worked on the hill for about fifteen years you know it's it's been there since one thousand nine hundred twenty six it's bipartisan and you know

that they look at things pretty level headed so that it's it is it is chaired by the republicans by the way as you know so fine if you're not going to count the health care but these people are going to have health care than i don't get me wrong the individual mandate causes a problem for a lot of people but if you take away that accounting that means people are not actually going to help have health care so maybe you know if you add that in things would be different but we'll see how that works out i guess the main thing is to get it out of the senate goes to the finance committee tomorrow goes to the senate what a week after thanksgiving you've steve yet you know we kept at things here but of the one point on that health care this is by choice people will drop hell obamacare by choice who now take it because they have a threat of a penalty i mean. people should have that choice i got it and then they'll have that choice and then they won't get it and then they'll go to the emergency room and then we'll all pay more for our health care anyway thank you so much really conservative your host steve malzberg thank you.

we've come a long way since former vice president al gore did not invent the internet although he sure was a champion of the new technology today our online existence is really omnipresent it's there all the time so what is your online existence and what more is there out there beyond what you know we're joined by morgan wright a senior fellow at the center for digital government one of the foremost experts on cyber security morgan welcome thank you for being here thanks for having me on ok i want to go back for some of the folks particularly the millennial who sort of lived with the inner internet all their lives how the heck did the internet start the world wide web how when why and when did it start so we'll separate those internet exactly different than the world wide web that's tim berners lee but the internet was actually created through the defense department the defense advanced research

projects administration darpa darpa you know and they were building stuff but the real reason was the former soviet union because at that time who was our biggest. threat the cold war and nuclear weapons so they looked at the internet they said hey we need a way if something were to happen we need to be able to reconstitute communications and have a self healing network and now it was the forerunner of the internet then later on a smart guy named tim berners lee using a computer created by steve jobs and next computer and software written by a buddy of mine called chuck shot and called back h.t.t.p. software the first worldwide web transaction and they monetize the internet. ok great now how the heck did we get where we are today from there you've written and talked about this as a former commodities regulator and i took particular note that we are essentially commodities. digital age now explain that for our viewers when it's free you're the product and in fact it's been done over time in fact the real genesis of this happened with the introduction of the i phone because until that time the phone companies had all the power you wanted to phone on our network you had to do it our

way and it wasn't about the date it was about the number of minutes you use talking on voice but when we started using data and it was about the apps and is about the content then over time then it was a little bit here a little bit there facebook started growing twitter started growing we started giving up more of our privacy pretty soon it's all parable of the frog how do you boil a frog you don't throw into building water you put them in when it's nice and comfy and you turn it up one degree at a time so over the years we can turn it up two to three to four degrees and now people that are getting on to facebook you know new people they don't understand the met the impact of privacy the loss of privacy they've given up but they haven't seen it because it's been done slice at a time well picking up on your boiling the frog a nalgene if somebody decided in sort of a weird way i am done with this i'm mad as heck and i'm not going to take it anymore i'll never use the internet again is it possible that for them to be anonymous to erase their online presence you might maybe going forward you could really reduce your presence but you're not going to get rid of your history your trail i mean if you've been out there on social media if you've been out there on linked in if you've done google searches if you've done anything like that you look

that history is out there it's very difficult to erase that as much as it would be difficult to erase you know the oceans in the ice caps and everything else so it's like it's out there forever you can do things to reduce your presence online but look what you know you can't unring that bell and you are out there are so clever so so say i'm not going to you can't do that but what about this thing called incognito which i'd never use but what it what is that and does that make you anonymous no absolutely not it's they still know that you're searching for things all it does is in your own browser history if you're searching for things you should be dodgy things and somebody of the your browser later they won't see it in your history but google or facebook or your internet service provider is still capturing what it is you're searching for because the internet has to have a return address if you go out somewhere you want information it's got. have a place to return it and it knows it's you my colleague here holland cook on the big picture with holland cook said that look right now even television networks are going to track you so that you just like when you get on the internet you have ads

that are targeted to you that when you turn on television in the future that you'll get ads that are targeted to you want to tell a vision that's that's occurring no matter it's going no it is actually and follow the pattern for voice recognition technology they want to incorporate into their televisions you've got alexy you've got google home these things are listening to what people say what people talk about what they're searching for and trust me that data is being shared it's being aggregated being sold to people and again you're the product for consumers i mean should they just feel like it's a lost cause or are there some laws rules and regulations that protect them in some way you know just think about like driving you can't stop the other driver from being an idiot but you can you can drive more defensively so be more defensively when you're on the internet there are some laws if you especially if you've got children if they're under thirteen they should be on social media accounts in fact their consumer protection laws and laws that come out of the f.c.c. that prevent the collection of data of children under thirteen many companies have gotten in trouble for not advertising the fact what they do with the data how they collect it so there are acceptable use policies but the biggest thing for consumers is look this is a war you may walk away from a fight but you can't walk away from

a war there after you there after your data they're trying to lock up your information with ransom or identity theft these are all things you've got just like you drive defensively you have to be on the internet and be defensive when you're on the internet and it is that pretty much your your advice for consumers for how to be as safe as they can given the circumstance i mean you know look think about using encryption encrypt everything you do use two factor authentication there's ways to get associate how do you do encrypt in a two factor or so that occasion if you're on a mac and if you're on a windows machine it's all right in there it's built in it's actually built in stuff just go look for how to encrypt my drive it will tell you how to do it two factor authentication google authenticator microsoft has projects are say if you're on pay pal pay pal does what's called two step verification which is used turn it on if you want to log in and those. great username password now we're going to text you now a six digit code only good for five minutes you got to put it in but yeah there are lots of ways if people just take the time to learn what resource they're accessing and how to be safe you would hop into a car and wonder hey what are these things other seatbelts never seen before we all

know we need to put the seatbelt on we all need to know we need to follow the speed limit doesn't matter if you're on a google or if you're on a mac or a windows machine just be safe about what it is you do. such great information for consumers so it were beyond the point of being in the future morgan right senior fellow for the center for digital government and cyber security analyst thank you for your time. before we go we have one more story to talk about regarding a record setting art purchased on wednesday a rediscovered portrait of jesus painted by leonardo da vinci sold for four hundred fifty point three million dollars making it the most expensive work of art ever sold it was purchased at christie's auction house in new york but the buyers identity was not revealed and according to the wall street journal there was a ninety minute bidding battle between five people and the bids were quickly increasing by ten million dollars increment the final price came as a shock for some considering it was initially estimated to sell for around one

hundred million dollars the portrait was painted a little over five hundred years ago was passed around royal families in europe before temporarily disappearing but then in one nine hundred fifty eight it reappeared at sotheby's and sold for forty five pounds which at the time was equivalent to about one hundred twenty five dollars in two thousand and five that was spotted by a group of art dealers and by end a conservatory that fought for three authenticates not legitimate and if four hundred to one channel three twenty one will bust on you tube you choose john thomas and bust our teeth thanks for watching.

the same. as you. would you want them and we got the job oh oh . crown prince mohammed bin solomon is said to be a reformer and on an anti-corruption drive others say differently saudi arabia is experiencing a life threatening crisis that could ignite a region wide conflict and the trumping ministry she appears to be on board. seen years ago i traveled across the united states exploring america's deadly love affair with the gun if the bad guy tried to get to one of my family members he would have better a lot better and i think they are inheriting whatever my my baby's says my book was published in the year two thousand more than hoff

a million americans have been killed by firearms in the us and we had a thought to me as i did this this is a middle school we go through drills and we put ourselves in real scenarios it was interesting to see who actually got hit by the gun i just saw added to return to the subject to track down each gun owner who i'd met and photographed those years ago i don't know this but we are not. in america a college degree requires a great deal. a decades long dead. study so hard it requires trust to. go through humiliation to enter an elite society. and parching to death sometimes quite literally.

wants other true colors of universities in the us. to compose its troops from a nato exercise after president appears as the enemy on the poster for the draw. being a wedge between ankara and the military alliance also to come up with a crack down on a number of far right public figures in an effort to tackle extremism and hate speech the questions are raised over its methods and rebellion in the ranks one hundred former allies of the french president launch a stinging attack against the centrist movement saying it has no respect for democracy.

watching r.t. international this friday just turned eight o'clock.