swift he meant his apology he actually acted upon it and that was very different than facebook but you know if he took some time you know i mean i could just invision that there were people out there not not me but there are people that write opinion editorials and i do write a lot of them that we're going to see a news story like this editorial for probably being written about well if you're a black person at a starbucks you can't use the y. five but if you're a white person and more fortunate exciter you can and starbucks is discriminatory. and this action is you say by the c.e.o. sort of nips at the bud a little bit they've essentially written the next news story and they got ahead of the news cycle and not only did they pay production what also he didn't do he didn't blame his stock and he didn't call it a one hour incident he took this across the corporation immediately and stop box every single facility in the u.s. will be shot for that often and i think that's a very good move it shows they mean it and they mean it is the important part you know i was talking about a little bit of this the spin in they've written the next story for reporters and

opinion editorialist etc but the bottom line is what they're doing is trying to do the right thing not just for their their their brand their p.r. but for their customers they're doing it and very importantly now we'd love both you and i would love to think that everybody watches the news they don't we love to think that everybody reads the news they don't however a lot of people go to starbucks they're going to feel this they're going to be aware of it and that's a huge difference versus it just being taken care of hopefully in the news cycle the public will feel this and they'll see the difference do you think just what before we go here we got about thirty seconds do you think there are any more big shoes to drop with facebook i know it's hard to know but what's your gut tell you hilary it tells me that they're trying to address things but that they're all over the place i think that they did a brilliant job in terms of their crisis communications about was wonderful on capitol hill i think it's wilma hale that takes the credit for that that crisis management team that they did all the coaching but look about get a good job i think they realize now they need outside experts as soon as a an organ. zation realizes we need some external experts they're on the right

track they need external experts and maybe a lot of them are the best ones out there and even in the news department and even now also calls the political boss they're not hiring and he said that he's aware of this you know in silicon valley he's not hiring out to bring in young university they need to have more diversity in terms of the stuff in terms of their political persuasion they wouldn't run into quite as much as this because that's where the anger comes from also in terms of the voting public hillary ford which so your stroll mark thank you as always healing about loving to be here. and time now for a quick break but stick around because when we return there's a new service in the works to be offered by volvo general motors and amazon where the packages will be delivered directly to your vehicle lauren fix the car coach joins us to discuss plus david burchell of a left and vestments joins us with talk about wells fargo is there an easy exit ramp for them in their beleaguered the beleaguered bank we'll talk about it when you and your break here are the numbers at the closing bell.

to two careers are on the verge of signing a peace treaty. change on your own summit is in the works is peace coming to the korean peninsula well it's possible the foreign policy blog in the corporatists media are less enthusiastic after all conflict is very business model. look at the blockade and the animosity for fifty almost sixty years to change the regime in cuba no the last administration realized that the majority of cuban americans wanted normalizations the normalised and when you normalize you can talk . and i want to tell you from my experience and two but when the united states you

sugar. instead of a hammer things change in cuba in the way that the united states want to. welcome back mick mulvaney the head of the consumer financial protection bureau or c f p b told the american bankers association conference in washington that as a congressman he refused to meet with lobbyists who had not given money to his campaign with a slimy thing moving he told thirteen hundred bankers we had a hierarchy in my office and congress if you're a lobbyist who never gave us money i didn't talk to you if you're a lobbyist who gave us money i might talk to you move any represented south

carolina in the u.s. house of representatives at least one congressional did district until he was picked to serve as the trumpet ministrations budget director a position he still holds as he tries and effectively to run the c.f.p. be as a second job comments about donations bringing better treatment but made to the very sector he is responsible for regulating struck many observers as inappropriate here especially after a move and he stopped the c.f.p. rule opposed by high interest payday lenders who donated sixty three thousand dollars to his congressional campaigns. veiny also told the bankers that he will bar public access to see if p.b. online consumer complaint database veiny holding up a copy of the bill that's a dud frank bill the wall street reform consumer protection act created see if p.b. told the bankers i don't see anything in here that says i have to run a yelp for financial services. in recent weeks including their

effort to purchase tribune media sinclair media is now selling some of their nearly two hundred local television stations in order to gain approval from the federal communications commission in order to go forward with the tribune deal in full sinclair is expected to sell twenty three stations in eighteen different markets which include tribune owned stations in cleveland dallas denver houston miami and sacramento sinclair previously announced that they would sell tribune stations including chicago's infamous w g n t v and newark new york w p i o x t.v. plus stations and several other markets. turning to india wal-mart is closing in on a deal to acquire online retailer flipkart if successful wal-mart's acquisition would give the discount chain a means to compete with amazon for the indian market bloomberg reports that wal-mart is prepared to pay twelve billion dollars to buy flipkart india's most

popular online retailer from major stockholders including among others tiger global management and soft bank who both own about twenty percent bloomberg also reports that flipkart board is considering amazon as a corporate suit or add considered them as a corporate suitor but were dissuaded from that option by the predictable and i trust challenges that if flip car were to be sold it would be a problem if it was sold to its biggest competitor and another india and the nation's largest cell phone service in india be hearty our tel was has posted an eighty two percent drop in earnings for q one pretext profits fell to the equivalent of eighteen million dollars down from close to one hundred million a year before air tel is reportedly under severe pressure from a new competitor reliance jiah low g.i. low made a big splash on entering the market with offers of seven month of free service and price points well below the previous industry norms after just a year and

a half jar low is one hundred seventy five million customers competitors and other critics say gyros levis support from parent company reliance industries to a twenty nine billion dollars in capital that was abused into jai low amounts to an i competitive practices b. hardy are tell is owned by be hearty mittal while reliance is owned by rival cash bonnie india's richest man. and volvo and general motors are working with amazon to create a service that will deliver packages directly to your vehicle customers would use amazon's key app for deliveries in thirty seven u.s. cities the new business stream is not only one of the most recent but most impressive inventions that combine automakers with emerging technologies volvo is also reportedly in talks with amazon to be able to offer customers with a package return service which would have all the customers placing packages in the trunks of their cars for pickup and hear discuss is about the best person one could

imagine none other than the car coach lauren fix who joins us from our new york studio lauren thank you as always for being with us this is really something i imagine that rather than having a package sitting on your front doorstep out where somebody could steal it folks might feel a lot better having the package delivered to their vehicles seems like a pretty innovative deal of what are your thoughts. well i think there's good and bad to that i mean if you've ever had a package stolen off your doorstep which i have not thank goodness you can be very if you know it's very intrusive so. i had this key program where they could actually get in your house and put the parcel inside the door the problem is people that have animals they could get out whether they be birds cats or dogs and that created some concern for some people so that obviously didn't apply so what do you do what if you put it in the trunk of their vehicle maybe you're at work the only problem is if you're in a locked in area or parking garage they can access it has to be in a public area and then of course if you're carpooling that could be

a problem too so there are a few little things or i see you put the parcel in my trunk and as you walk away the amazon guy walks away i could break your window and steal your parcel so i think there is some negatives to it but i think there are some very positive so those people who don't want to carry a large containers of toilet paper homes. good point as bizarre as this whole thing might lorn it is that the only sort of new fangled service idea for an innovative business stream out there. toyotas is partnering with pizza to actually deliver pizzas in autonomous vehicles and ford is doing the same thing with domino's i mean are we just about to see the all deliveries autonomous vehicle cools grow bob good to be the next one we see. that may be true i think the big thing that you're thinking about these autonomous vehicles and everybody is going that direction i think it's really important for all of us to take a step back we've had a lot of hold on the programs for autonomy vehicles when you look at some of the

studies especially recently and after the death that happened in arizona you're saying that sixty some percent of people won't even ride in an autonomous car then you want to be on the road with them or millenniums are more into potentially riding in one still those numbers are low the take rate is low and we still have the big hurdles of hacking that we have not addressed and of course the attorneys they're very excited for this to get on the road because they know they're going to be making. a lot of money for manufacturers and everyone else in the insurance companies are a little bit concerned so i don't think we're there yet i think we're just in the testing mode but hey you want to deliver a pizza to me had become interesting but you don't get a tip then do oh it's a good point also well speaking of autonomous vehicles d.d. the right feeling service in asia that we reported on yesterday's going to mexico and competing with a lift in america they're going to do so dry being a service also and they may be doing a public offering it's reported today seventy eighty billion with a b dollars for those of us who don't know much about d.d.

give us a little background on one who they are what they are and what the future holds for them right here in the u.s. you might say get me in that seems to be like thermos and band-aid and clean x. it's very standard conversation but in china the word is d.d. which translates as beat beat so that has become their mainstay their big app and as matter of fact we're gave up trying to compete with them and they own about seventeen point seven percent of d.d. and d.d. is now being regulated by the chinese government because the fact is they don't have a yellow cab scenario like we do here in new york city what they're using is this app service because they have high speed trains and when you get to your destination you still have that last mile issue which means you get your train station by i need a mile to get to a market or to my home they're going to try and work an autonomous car so they can pick you up at the train station so when you purchase your ticket for the train you'll get a notification on your phone saying hey your autonomous vehicle is there they're still going to have problems with infrastructure charging which is

a huge issue as they work toward going pure evie and large cities they are producing nuclear power plants as quick as they can they put up eight last year and they realize that there is an electricity shortage of same problem that we have here in the u.s. which is going to be a hold up for any city to go all electric or any state for that matter lauren fix the car coach thank you as always for being with us sure appreciate it lauren thank you. now we move to wells fargo a bank which actually helped build the united states but has had some really enduring problems being back to two thousand and sixteen in the last several days they agreed to a one million dollar one billion dollars settlement with the consumer financial protection bureau and the comptroller of the currency related to claims of misconduct on auto and mortgage loans and part of the settlement includes wells paying restitution to its customers and the requirement to improve their compliance

and management practices and here discusses david merkel of l.f. investments david thank you so much for coming in and spending time with us but sure appreciate it so how in the world did they get into this mess i mean it's a big deal it's been going on what would what was it instigated by wealthy in for profit margins that were too high than could really be afforded by the business and as such they entered into various types of marketing schemes and there is types of products that were aggressive complex could fool people they accepted in their management practices they would look past things that were deviations that were that were in their favor and they would then scrutinize heavily the things that cut against current profitability and so you ended up with small people who got consumer loans from them getting the short end of the stick and they originally you know when you go back twenty sixteen they created all these added accounts they created savings accounts with right now ask for exciter and on the auto loans that

i was just talking about it in the introduction a lot of those it wasn't that they opted consumers their customers rather in two auto insurance when they did now support things like that they they force placed insurance on these customers saying that they didn't have adequate insurance and when they did frequently have adequate insurance and that forced them to basically it would work you. they take the interest and then the next part of the payment to insurance and then to principal that force a number of them into noncompliance with their loans they would then go and foreclose on the loans and sometimes repo the car and some of these people would then have difficulties getting to their work and so you know this ended up creating losses of one hundred eighty one hundred eighty million dollars on that and on the rate locks for the mortgages that was another hundred million dollars where they basically because of their delay not because of the consumer delay forced the people to pay more in order to keep their loans locked at the interest rate that

they wanted to have that was one hundred million not it and so they got this billion dollar fine but it's not over i know they just asked for an extension was it from o c c n n extension for additional compliance so they still don't have every everything right yet it was and i money laundering and these are still some there are still some things going on with them with wealth management and some things with their commercial lending that they are still being looked into so these things go on these are complex institutions and in one sense if it's going to be complex you've got to create either the complexity to do the compliance or face more things like this again and again earlier in the program we were talking with the hill reportage about how. facebook could handle their circumstance and how star book box dealt with it and i put wells probably in the facebook camp of not dealing with things are perfectly and it brings to mind i know they just had

a shareholders meeting out in iowa did that tim sloan the c.e.o. made seventeen point six million dollars last year that's two hundred ninety one times the average person i mean talk about bad optics do you think he's safe i know i know that's not an industry standards totally out of line but given the circumstances there and it seems like a pretty bad deal i'd say that he's not safe if another thing happens you know why . one two three strikes you're out but you know the thing is often these things happen because boards are you know they take what's given to them by the consultants and they think that every c.e.o. is above average since they're above average they give them slightly more than what the market south salary surveys will say and as such the next year when it comes up again will the market averages move up because everyone's done this so often some of these things happen for innocent reasons personally for me i vote down every pass a on pay thing that for my clients i don't see the value in c.e.o.'s getting paid that much it seems pretty crazy to me i mean there's

a value but boy i mean two hundred ninety one times what your employers make thank you so much david really appreciated merkel thank you they left investor it's good to have you here hit thanks part. and before we go in the past we have covered some pretty big names in pop culture who are getting in on the block chain rush but now we even have some who are performing for it in may in new york city will see its own block chain week and the names that will come with it so who is on the bill snoop dog is going to be taking the stage next month he'll be singing for the v.i.p.'s vent which is being hosted by ripple snoop is even tweeted about the event saying that he and others are putting the crip back into krypto that's all for this time thanks for watching be sure to catch boom bust on you tube you tube dot com slash boom bust our team six time.

they claim is a black hole and it is such folks some walks of life and money from all points on the globe and as it expands it just the wharfs. anything else with it. it also. has to get. to the.

saudi arabia's top diplomat more could target its government faces a collapse unless it starts backing u.s. operations in syria. maneuvers between pleasing europe and donald trump on the iran deal during his address to the u.s. congress. may not. we should not abandon it without having some see substantial and malted from. handouts for extremists an alleged bodyguard of osama bin laden is found to have

been collecting benefits in germany for over two decades. and russia's defense ministry displays fragments of missiles says the syrian government interceptor that during the recent western strikes us claim to all of its missiles hit their targets . broadcasting live direct from moscow this is art international thomas certainly glad to have you with us. now saudi arabia's foreign minister has warned the qatari government that it could collapse if it does not start lending support to the u.s. military in syria. should finance the u.s. military presence in syria and send its own military forces before the us president american protection for. if the u.s. is to withdraw its protection represented by its military base in then the regime

then within less than a week this comes as we've heard different words from trump basically giving the impression he's still making up his mind about whether or not to withdraw u.s. forces from syria he's been talking about it for him in terms of very soon relatively soon it's not exactly clear now we did hear trump say that if saudi arabia wants the usa to maintain a military presence in syria they should help pay for it they will be making a decision very quickly in coup warden issue with others in the area as to what we'll do saudi arabia. is very interested no decision and i said well who do you want to say maybe you can have to pay so now we hear the foreign minister of saudi arabia saying that there are regional rival are must share the burden of the fighting in syria or else there could be some rather harsh consequences it's interesting to note yesterday tuesday donald trump was at the white house

a speaking with the french president mccraw on and he seemed to indicate that there were other countries that had been approached by the united states about increasing their role in syria financially as well as merit militarily there is talk of the prospects of an arab coalition in the works for syria now this is certainly not the first point of disagreement between qatar and saudi arabia folks who recall over a year ago there was a falling out between the two countries and that resulted in a number of countries cutting off diplomatic relations with qatar saudi arabia and during that spat we heard that donald trump unprecedentedly accusing qatar of funding terrorism. said that they absolutely are not funding terrorism and that statement from trump was simply inaccurate so now we've heard these very very dramatic words from saudi arabia's foreign minister who are waiting to see what comes next. well security analyst and former british army officer charles schumer bridge told r t that any gulf states sending troops into syria would be breaking

the law. well a lot depends on the difference of course between what is being stated quite grown daily by various politicians and leaders and what actually may actually turn out to happen on the ground let's not forget that this would be an occupation force because syria of course is a sovereign entity certainly the recognized government of syria has not invited. these other countries from the g.c.c. the gulf cooperation council states to come and join in any action or any military operations inside syria itself let's not forget sad president assad and his forces are winning the war in syria and almost certainly at some stage those that then replace american troops may well end up in combat against syrian forces and possibly also russian forces and those countries will be keen to avoid that i suspect. the french president has concluded

a three day trip to washington by addressing the u.s. congress where he got a warm welcome from lawmakers. the president of the france republic. spoke enthusiastically of the special bond between the two countries in a lengthy speech full of historical references. friends and supporters greeted the story of this great nation from the very beginning. or among. transport ourselves was a french philosopher of old. and benjamin franklin george washington to sign up for america and france that's a good son of the united states. see mandeville martin luther king president the result from thomas jefferson was novel novels consistent with

bush and really. this is. well along with all those historical references there was some policy discussed most importantly the iran deal now the media has portrayed a trump and relationship as a bromance so to speak comparing it to the infamous bush blair bromance of the early two thousand but that could definitely be a mis characterization considering that mccrone took some positions that were totally out of line with trust policies including expressing support for the paris climate agreement using the phrase make the planet great again which is in stark contrast to make america great again slogan now mccraw was a bit more ambiguous regarding the j c p a way or the iran deal calling for a more comprehensive deal while reiterating that france would not be abandoning the twenty fifteen agreement he presented for a number of months i've been saying that it was not sufficient do because it will enable us at least until twenty twenty five going to be to have some control over

their nuclear activities here with me that for which to work on a new deal with iran. we signed it at the initiative of the united states. we signed it boasts the united states and france. that is why we cannot say we should get rid of it like that france will not leave the g.c. purely because we signed. macross explanation today seem to be a reaction to backlash from the e.u. and again mccrone did clarify that then the sesame of the agreement outweighs washington's concerns and he urged other signatories to stick with the deal until there's a better one but mccrone interim breaching consensus came as somewhat of a surprise to the other signatories especially considering that five hundred french british and german m.p.'s wrote a letter to the u.s. congress asking them to support the deal saying that the concerns should be addressed separately and not within the context of the j.c. p.o.

way which evidently is in direct conflict with mccrone interim spew the check out what the e.u. and russia had to say about it and what can happen in the future will seen the future but there is one deal existing it's working it needs to be preserved we are against the revision of these agreements and believe it's very counterproductive to de rail the longstanding international efforts will make sure that these agreements and shrines in the u.n. security council resolution weren't be violated trump has until may twelfth to decide what he's going to do but now that there seems to be some division amongst the members of the e.u. it's impossible to predict what exactly will happen. for how this all looks for tehran political analyst say that mostafa course told us that although france and america might be aligning on the iran deal the rest of europe does not want to go along. the trio nations in europe especially friends even more than germany

and britain is trying to get closer to donald trump's aspirations and demands especially with regard to iran's nuclear issue but the worst of europe is a standing against any intensification of problems and tensions with iran they just reject the demand by. european nations with regard to imposing further sanctions on iran for its missile and regional activities so this shows that europe is not much willing to work with donald trump. the man who allegedly served as osama bin laden's body guard has been living on welfare in germany for more than twenty years with details here's our. even though some of the laden was killed in two thousand and eleven by u.s. special forces operation he was just the figurehead of the group and some of its members are still out there one of them it turns out has been living in germany for

over twenty years now and has been getting welfare payments to boot he's been named in the media as a he's a chief national and he's believed to have joined al qaeda in afghanistan back in two thousand and illegibly worked as one of osama bin laden's bodyguards because he was already a german resident by that point he dented germany three years prior a need on a student visa when he came back he filed an asylum request that was denied in two thousand and six and a call in germany described him as an acute and considerable danger to public security but a higher court subsequently overrode the deportation order and they cited concerns that this man sami a would be subjected to torture back home in tunisia now sami a was never actually charged with terrorist.