that guy just came over to me so me and gave me a chance to get this book. this is boom bust broadcasting around the world from washington d.c. i'm bart chilton. coming up artie's holland cook joins us from las vegas to talk. plus wall so talk cyber crime and what to expect this year with todd shipley of various software and later we'll discuss

a big trade deal with the french airline manufacturer air bus and french president emmanuel mccrone and finally we'll discuss the economics of the news now let's get to the top stories that business and financial headlines. late yesterday president trump addressed the now the american farm bureau on a range of issues including nafta the north american free trade agreement the o.p.o. crisis and regulation while many listeners were hoping to hear more about the administration's plans on reading go shading the nafta the president only repeated familiar language about getting a better deal the president also touted the release of a report from a task force on rural america in the report it says that of the five key areas of concentration for rural america increasing internet connections is vital well yeah like they said in the jerry maguire movie show me the money it is unfortunately

there were a number of fact all errors in the president's farm bureau speech and here's one take a listen and we have just signed into law the most significant tax cuts reforms in american has been the it's a total of five point five trillion dollars in tax. sounds super five point five trillion dollars but it's untrue the tax cut is one point five trillion not five point five trillion i mean it's still a huge deal to get a tax cut done and surprise people like me but getting these key high level details correct you know one point five trillion or five point five trillion sort of an important deal the speech also made the president the first incumbent president of the united states to address the farm bureau since george h.w. bush in one thousand nine hundred two kudos to the president for doing that we'll spend some time on the u.s.

farm and real economy on tomorrow's show should be interesting. the technology sector was the biggest market mover in twenty seventeen in fact the s. and p. five hundred tech index jumped thirty seven percent last year and they've started off with a big bang in twenty eighteen in recent days the s. and p. five hundred index rose above twenty seven hundred for the first time and other major indexes hit record closing highs as the techs climbed amidst robust economic growth for technology stocks alphabet i.b.m. and chip makers have been the biggest drivers recently but it isn't just the big players in tech that are making moves holland cook hosts the big host of the big picture which airs at seven pm on friday joins us from the consumer electronics show in las vegas holland thanks for being with us for a consumer electronics is

a big business in and of itself what's going on in vegas. well this is a three hundred twenty one b. billion dollar business each year this year in the usa alone forecaster grow three point two percent and never once during the great recession did consumer electronics not have an up year so it's a very dynamic industry to watch and there are one hundred eighty four thousand of us from one hundred fifty countries watching it here all week at the consumer electronics show interesting lee the consumer electronics show has given we in the media strict instructions not to use the phrase consumer electronics show in fact the consumer electronics association actually change their name to consumer technology association for a couple of reasons one is that there's a lot more to it then gadgets now you often report on bitcoin presidential

tweets grab the headlines and amazon twitter air b.n. b. . it's not just gadgets anymore and frankly in a an exhibit hall the size of fifty football fields here there's a lot of stuff that just isn't gadget like so they're trying to shake the image of this as a gadget show well i always go to brookstone for my gadgets when i'm traveling through airports as i know you do a lot but what are the sort of big picture projects there despite the gadgets that being showcased holland. well you name it as i said the seven holes the size of fifty football field several thousand companies will be introducing tens of thousands of products so you've got your drones you've got your robo car i think

one of the big trends that we're seeing or should i say hearing this year is voice and after santa left all those smart speakers under the christmas tree a lot of us are already barking at alexa to turn the heat up or to turn the lights off and voice control is replacing the keyboard and a lot of functions that we routinely perform in the course of a day yeah that's really new and exciting you know one of the areas that we report on here boom bust a lot of our energy efficient things conservation related technologies you're going to be on the lookout for those two out there. and look no further than your kitchen for a great example the smart refrigerator can now tell you via an app what is in your fridge and how long it's been there and another app can suggest dinner recipes based on what you already have at home and i know this sounds like

the jetsons but the average american family wastes two thousand dollars a year in food largely because they aren't sure what they have at home so you know there's a matter of energy conservation for the fridge itself for the fossil fuel you'll burn making a needless run to the supermarket etc etc there's a bunch of subtle ways that go beyond the windmills in the solar panels that we think of when you think energy conservation while holland i imagine if some of our viewers were to have their refrigerator tell them what's in there it might be more akin to a horror movie with some of the old things they have anyway holiday hope you'll join us to get again later in the way colleen cook host of the big picture which airs at our t. america at seven pm on fridays holland thanks for joining us you bet.

there was a while last year in the year before that it seemed a bit as if a hack was back every day or so cyber crime is still an important matter that impacts large and small businesses alike and of course folks like us individuals and cyber criminals never rest they're like the energizer bunny they just keep going and going we're joined by todd shipley the president and c.e.o. of vera software todd something not all of us had heard about came to the forefront you know last year in the year before ransomware i know you know about it a lot but your computer essentially gets locked up until you fat pay some nefarious acar to let it loose explain how this works and i read recently that it cost to people eleven billion dollars last year how does it work how much does it cost and is it going to keep going up to. well thanks for having me on this afternoon bart it's definitely going to be a continuing issue and it just has to do with the fact that security for home computers and business computers is lacking in so many ways and so what ends up

happening like a typical phishing scheme or an e-mail that you open up there's a document or something in there that runs the fairy a script in it that ends up taking your data encrypting the data not just using it for a purpose of takeover or a hacker getting in there to look at your files or on your computer that actually locks everything up and then it gives you a notice on the screen that says hey i will give you the key to unlock your computer if you pay me a certain amount of money that money is usually between an address out there in the darkness that you've got to negotiate to and hopefully have the big going to be able to provide it to them and once you do it give them the big going you're hoping that they're actually going to give you the key that you can then unlock your data from but that doesn't always happen. yeah just a typical ransom slash hostage circumstance of. technology isn't always great

is it now look if we look at another note and i know you've seen this chart i want to bring up with ransomware payments this is from two thousand and sixteen that we just finished two thousand and seventeen of course but i thought it interesting that a payouts are made less by those that are attacked in the us as opposed to other nations like canada germany in the u.k. why is that there's something sneaky going on that i don't understand well i think we have to look at what the survey is not that it's incorrect necessarily but it's anecdotal it's an online survey by people that choose to respond so given that it's not necessarily as factual as it could be although if you look at the numbers it is very different in the u.s. than the rest of the world one of the things that we look at when it comes to those kind of cyber issues with malware and whatnot those usually hit eastern europe first and then migrate as the time zones come online into the united states. the united states actually has a little bit of a buffer during that time because as eastern europe gets hit western europe gets

hit they're trying to deal with those things and when united states wakes up on the east coast they've got a chance to start responding to some of those things in preventing the attack so there's a little bit of time like they're also the effect that the business in the united states has taken a real hardcore look particularly with ransomware about how we train awareness within the companies not to open up files not to do certain things so i think there's a little bit better awareness occurring in in the u.s. than there is in some of these other countries and taught another area that i know that you're an expert on also the vulnerabilities of cyber vulnerabilities in the older modes of transportation you know where they've got you know antiquated software planes ships i know they're talking about hacking cars but you know what's going to happen i mean could for example some hacker you know get into a ship's computer system say an oil tanker or even heaven forbid a cruise ship to take take control sounds like

a plot for an action movie but could it actually happen todd. well i think we have to be aware of what's occurring as the hackers have started to figure out that older technology is a place to move to that they're going to start looking at that look at what happened with pacemakers just this year in the huge recall of pacemakers because of the lack of security in those and you'd think that they would have security i think we have to start thinking about those kinds of things we just had that she huge train accident in washington state we have to start looking at what can affect this old technology and whether or not the hackers can get into this stuff because security was not built into those devices intentionally and so we have to go back in and look at that stuff our electrical grid a lot of these of the places that are potentially valuable with our infrastructure and find out whether or not it's susceptible to these problems target's really fascinating want to have you back to talk about what individuals can do to protect themself and i also want to ask you about artificial intelligence another time todd

shipley president c.e.o. of vera software thanks for joining us thanks marc talk to you soon. time now for a quick break but stick around because when we return consumer confidence is on the rise here in the united states we take a look at some of the numbers for us shoppers and as we go to break here are the numbers at the closing bell stocks posted the sixth day of gains with health care and financial sector stocks leading the way here the. local wal-mart is selling you on the idea that dropping bombs brings pins to the chicken hawks forcing you to fight the battles that are going. to do stocks credit tell you that will be gossip and probably by itself a little bit. of advertising telling you are not cool enough to buy

their product. these are the hawks that we along. with one. here's what people have been saying about redacted in the sense that it's full on. the only show i go out of my way to the times you know what it is that really packs a punch. is the john oliver of r t americans do the same. apparently better than. i see every heard of love taxes and. president of the world thank. you for. send us an email. on monday the federal energy regulatory commission ferk formally rejected

a proposal from a trump administration to pay energy plants to keep a ninety day stockpile of fuel on site the policy proposal was supported by the coal and nuclear industries which would have had an advantage over natural gas plants which can't store their stuff because they're fueled by pipelines and the policy was opposed by natural gas interest as you might imagine every major u.s. grid operator and consumer groups who said the policy would raise prices and not increase reliability or resilience in the system all five commissioners all trump appointees by the way three of them republican voted to reject the proposal from energy secretary rick perry who claimed that on site fuel storage makes calling nuclear plants less vulnerable to shutdowns but an energy department review in august of last year refuted that argument. yesterday we spoke about consumer debt in the u.k.

well there's news today about increasing consumer confidence in the united states and it may be pushing us borrowing higher also the latest federal reserve figures for november of last year show the largest monthly increase in consumer borrowing in sixteen years rising by close to twenty eight billion dollars for a total of three point eight trillion dollars in consumer debt the increase was largely fueled by the largest monthly increase in revolving consumer credit cards for most for the most part those increases in credit cards increased more in one month thirteen point three percent than ever before while the news coincides with reports of increasing consumer confidence the rate report on credit cards suggest american households may be vulnerable in the event of an economic shutdown or shock downturn rather hope that doesn't occur credit card delinquencies have also unfortunately ticked up from seven percent to seven point five percent although

that's well below the historical average of nine percent. air bus will be boosting production of its passenger planes in china starting next year the european aerospace giant made the announcement during a visit to china with a trade delegation headed by french president emanuel mccrone artie's alex mahela bitch has the story in toronto alex what is the latest on this agreement. well you know it's an interesting agreement because obviously everybody wants to get into china but let's start with kynge in the city that this is actually happening you know this is just us out of beijing and if you look at this map pretty interesting one of those tiny towns in china of fifteen million people it's a port town and the facility there has been around since two thousand and eight the airbus facility they've already built over three hundred fifty a three twenty series aircraft now they've been building about for

a year or next year they want to pump it up to a story for a month next year they are pumping up to five a three twenties a month and then by two thousand and twenty they're looking at six so this might seem insignificant but obviously each one of these planes is worth millions and millions of dollars so if anything this is one of those moves that is telling china a europe is interested in expanding since airbus itself although is headquartered in toulouse france is really a european union company it's crosses borders there and it crosses a confidence as well but this is really a push by europe to signal to china look we are here and maybe we can do some more business with you and maybe have fair trade perhaps wink wink so that's that what we're seeing right now with this move and what they do alex they build the planes in europe as you say and then they they deal with the energy of the plane over it in china is that how it works. what's he done that's one big part of it even if this deal expands because what

a lot of people are talking about let's not stop at the a three twenty we all know about the a three eighty which is a massive plane four hundred passengers super jumbo jet with dreamliner right absolutely it's not the dreamliner dreamliner is actually the seven eighty seven i believe ok not an airbus the arab air bus itself has the eighty three eighty so the a three eighty a detour in competition definitely but kind of the same story right these are massive plays but the a three eighty what the interesting part is it's probably the slowest selling thing that airbus has just because of the size of the plane when we look at the a three twenty it's something that a lot of markets are interested in is what great for you know those intermediate sized lights when you're getting into the long distance you want something much bigger i don't know i do i'm on a plane for fourteen hours i want to be as big as possible and that's where you have something like the dreamliner or or the a three eighty now the a three eighty that idea is that maybe pump it up in china again so exactly what you were saying

bart along those lines of let's do the interiors in china and this is just discussion right now but we're hearing from industry sources that this is actually being talked about quite a bit so to bolster the operation challenge in china and to put it on par possibly or even a to exceed the amount of output from other operations like they have in mobile alabama or what they have in europe it's very interesting alex that you know the president mccrone wit was there with the air air bus the executives and i wonder you know thinking about whether or not that would that would happen in canada or whether or not president trump would be you know taking a boeing c.e.o. to the china what are your thoughts about that look trumper he did it last year and he got a deal for three hundred planes with china to come out of of course out of the american companies right so a worst. specifically talking about boeing so boeing has a deal and this is another reason the europeans are here they say three hundred

please order from china through trump so why not send mccrone he's sort of the glitter boy right now from europe everybody is talking about him so it is the same type of operation sentiment and see if he can get more planes to be side on or trying to sign on for more planes now they were thinking that they might get a deal for one hundred this was not a part of the delegation or what they were really a part of you know coming in to sign for that it didn't happen so a lot of people saying well you know what they're disappointed well not really because in the past couple weeks we've seen some signings eight million eight billion i should say a dollar's worth for seventy five airliners by a company called china aircraft leasing group holdings and also last summer we did see paying in germany he was there in july he ordered one hundred forty planes to the tune of twenty two billion dollars so disappointment not really there got a lot of orders coming in and they know that china is pretty much number one it when it comes to the a three twenty is they're ordering pretty much more than

anybody else so this is the place to hit and you don't have to really be expect a one hundred planes every time you walk into the country because a lot of orders need to be filled as it is got thanks for covering that alex r.t. correspondent alex mahela bitch thanks a lot thank you. the news industry has been an important part of becoming a civil society you know one of my favorite jerry seinfeld quotes is this one it's amazing that the amount of news that happens in the world every day always fits exactly in the newspaper the newspaper was published in which country got a gas here's a hit gutenberg. yeah the first daily paper in the world was printed in frankfurt germany and sixteen fifteen in the u.s. we credit benjamin franklin that renaissance man with being a key newspaper man of his day in philadelphia well

a lot has changed in the news business and it certainly isn't just newspapers anymore and radio and television now of course social media there's a super movie right out right now the post with meryl streep and tom hanks and in it there is and they have all sorts of nominations by the way golden globe nominations but in it the issue of the washington post going public with an initial public offering an i.p.o. is a key component of the story katharine graham the post owner at that time had to make a tough choice between publishing the controversial pentagon papers about the vietnam war and risked not taking the paper public as we know they published in the papers all across the nation followed her lead so the economics of the news has been and is today a big hairy deal involving big money for more here's ashley banks from the newseum ashley social media has taken the news industry by storm out of one point many

people used to take to the newspaper or television or radio to get their news however now many people are taking to social media to get the latest the only issue with that is that some of the information that's being shared is either skewed or not true at all it seems more and more people are turning away from traditional news looking to facebook and twitter as a result and staking him at the nomic toll on the industry especially at newspaper outlets according to the pew research center and twenty think fifteen at the newspaper industry face challenges although major u.s. newspapers reported an increase in digital subscription the new york times added five hundred thousand digital subscriptions and twenty six team to forty seven percent year over year right. the wall street journal added one hundred fifty thousand subscriptions which is a twenty three percent rise in the chicago tribune i added one hundred thousand in the week day digital circulation which is

a seventy six per cent year over year yet advertising revenue for the industry has declined sharply by ten percent placing total ad revenue for the industry at eighteen billion dollars and twenty six now lots of third of what it was in two thousand. now according to the newspaper association of america the total industry revenue what's forty nine billion dollars now i got the chance to speak to the zero zero zero zero zero new zealand to get his take we also i think are watching on social media the evolution of those companies facebook twitter those companies that bring us a lot of these things that are unable us to send stories off to friends now they're working on a zillion ideas of how to validate those stories we're working at the newseum on an idea to give you basic information about where did that story come from sort of nutrition label if you will that we can look at where did it come from where they what's their history so as

a consumer you are armed with that kind of information and our education unit is teaching young people to be skeptical and how to you know do you check it out with for example how many people are reporting that same story you know if it's something fanciful and you get it from one source it doesn't get around very long we don't know anything about you should have no more doubt that if it's a long time established news operation that's reporting this and so are fifteen other news operations and in recent months major news outlets have had to retract stories citing inaccuracy is and the reporting i've been asked to see oh are people turning to social media because they believe me through media isn't trustworthy we know it's interesting if you look at the process of correction within the media with the news media which i think is the only industry which really does it so visibly and does it on themselves and. the last time your bank called up and said we made a grotesque error or we've misled you about whether was a good day to get a mortgage and we're going to fix that and we're going to admit it publicly that tends to come from a government investigation or

a lawsuit i mean the idea somehow that corrections diminished the news media is a bit of a to me it's an anomaly i mean i put more faith in somebody who says to me you know what i screwed up here's specifically how i screwed up and here's the information i gave you that wasn't correct and presumably here's the information that is correct now the c.e.o. tells us why people should stick with traditional news it took us decades to sort out how does print work how does broadcast work you know should you show live shots of people threatening to commit suicide you know we learn no you don't do that for a very we're making up rules as social media impacts our lives so i'm not surprised or disappointed that it sometimes doesn't work out as we'd like it to but i think we're in the middle of a corrective process and i think it's important for readers to get to demand accurate fair credible information from journalists and it's incumbent on journalists if you're going to survive in the twenty first century to do just that

give people fair accurate credible information on which they can rely you do that you're going to be a success regardless of how you deliver it or whatever era we're in or where social media promotes or doesn't promote the news e.m.i. actually banks are importing for boom. thanks ashley and thank you for washington for watching see you next time. in the heart of the swiss alps this is a place probably more secretive some the pentagon small mysterious than the cia and that's a god. customs i hear. all the science is controlled by is a monday impose the opening time so if. it was a joke it's from his own press the press. in place of the strictest in all europe must to pieces by artists like pecan so and modigliani i can't boards unsold inside this warehouse that's where the report comes in it covers

a. naturally discreet commercially discreet step but also discreet because they concern fraud. some of those paintings are linked to dark secrets nobody knows how many of these secrets a kept inside the geneva freeport system will never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand it's a matter of confidentiality only is it the world's black box of the art business. the league. really.

widely praised by the. economic protests. have failed to get the same attention from western leaders. in iraq. with. the us both democrats and republicans are trying to hijack the moral debate over the dream migration initiative to score political points.

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