as union under such a circumstance the entire u.k. would remain in the e.u. as custom area which means there would be no added terrorist between the e.u. and the u.k. they would be one solid trading block hard line breaks at tears including member members of many members of parliament who are members of british prime minister teresa mayes conservative party oppose staying in the e.u. is custom union as miss may herself to date has at least rejected staying in those opposing the staying in the customs union do so primarily because they prefer the u.k. to be able to enter into bilateral trade relations with other nations and remaining in the e.u. customs union would prohibit such bilateral u.k. trade agreements a spokesperson for the prime minister played down prospects for a deal next week when ms may will meet with the leaders at a summit and we have reports over the past that things are going well only be stalled or stymied by one issue or another so it remains to be see what will take place regardless of what occurs and he brags that deal would need to prove from the

u.k. parliament. and other news from the u.k. there is more follow up for the reputed big four accounting firms after scandals including the collapse of u.k.'s super contractor karelian a client of accounting giant k p m g the chair of the competition in markets authority or c.m.a. andrew tai ri says his agency will take a closer look at auditing processes with an eye toward major reforms in a statement mr tyree wrote if the many critics of the audit process are right not just the companies which by audits that lose out it's the millions of people dependent upon savings pension funds and other investments in those companies whose audit's may be defective meanwhile regulators at the financial reporting council say they are considering sanctions against the big four including a ban on consulting work by accounting firms for companies that the accountants are also responsible for rating we've been doing that in the united states regulators in the. u.k.

are widely reported to not just be considering specific reports but also the fundamental question of whether the big four are actually too big to fail and therefore pose a systemic risk to the u.k.'s financial system. a category four hurricane hurricane michael which has had winds in excess of one hundred forty five miles per hour that's two hundred thirty three kilometers per hour is now making landfall on the florida panhandle near the tourist town of panama city it's also impacting the state capital in tallahassee and thousands of businesses and even energy markets are being him impacted florida governor rick scott had this to say i just received a briefing on dangerous category four hurricane michel for grammar and summation here in tallahassee hey michael is a deadly category four storm. this is the worst storm of the florida panhandle seen in more than one hundred years and here is the current kane's path and as you can see the eye where the highest winds are located with gusts reaching one hundred

sixty miles per hour that eye is about forty to fifty five fifty miles wide and the highest winds are on the northeastern portion of the just east about eighty miles as the crow flies as the capital city of tallahassee it's right about here where the a is and panama and tell hasee is braced big time as it's starting to feel this impact tallahassee is actually the largest city on that florida panhandle that got about two hundred thousand people low unemployment rate for many months of the economy is largely based upon health care retail manufacturing and education it's the home to colleges including florida state university and florida a and m. and an energy markets they are also feeling the impact these are all of the oil rigs and the oil platforms the platform stay fairly stationary those have been of vacuum way to roughly forty percent of crude oil production each day more than six hundred seventy thousand barrels of oil and seven hundred twenty six cubic feet of natural gas has been shut down there in the gulf of mexico and at least as i say

seventy five of these have been evacuated the oil platforms companies including british petroleum chevron b.h.p. billiton and darko patrol and all have shut their people and sent them back home they're safe now plus the louisiana offshore oil port has stopped all of its activities and it's the only place the only facility in the u.s. which can fully load and unload these large shipping tankers and also it would go a look at gasoline prices they've reached a four year high and are up three cents on the week to two dollars and ninety one cents per gallon nationwide in the u.s. that price is up about twenty five dollars over this time last year and many experts say this may mean prices will remain relatively high for the forseeable few . and as far as crude oil prices go west texas intermediate traded at nymex the new york mercantile exchange is trading today near seventy five dollars per barrel which compares around fifty dollars per barrel at this time last year and we'll

have those final numbers at the closing bell coming right up. and we now know to look at the massive downward move and volatility in u.s. markets and look a look at tech stock to do so we are joined by adam mesh of adam mesh trading group at a big huge news today market down three point one five percent eight hundred thirty two down. you know just crazy numbers i mean what do you make of that this is that the i.m.f. downgrading we talked about that yesterday downgrading global growth the world economy outlook continuing bond selloff interest rate trade tensions what do you think adam. what a day to be here i mean as a trader and individual trader these are the kind of days we live for we haven't seen the down there like this since february and i think the main cause that i'm

hearing when i speak to people is interest rates the cost of borrowing money is going to go up so if you want to buy a house it's going to be higher and that is what's weighing on people's minds and it's been that way since last week and you saw the market start to bubble and now it's broiling you know i saw some of these figures were just crazy there the volatility index the vix traded at the chicago board options exchange the highest levels of volatility sense april and nasdaq down three point five percent below the two hundred day moving average last time that happened was july of twenty sixteen adam i mean what do you what do you see for the rest of the week and going forward your last week we were about the past twenty seven thousand and here we are with this big decidedly definitive dip what do you think going forward. so there's two ways to look at it in february march when we were down like this

before i thought the volatility was moving much faster i was surprised that i didn't see a higher increase in volatility today so you could look at it as either a good sign or what i think it is which is the worst is yet to come and when you see the market going down like this you have to remember where we've come from as an example amazon right now is trading around seven hundred so people are like oh it's down a lot off of two thousand but earlier this year it was below one thousand so even though we're down a lot we haven't really felt that much in comparison to where we've come from adam i want to read you a sub some new news out out today google owned by alphabet is elected to appeal the five billion dollar fine from european union regulators and the fine was levied by the european commission in july over allegations that google actually leverage their prevail and so on their own android operating system to coerce vendors into

relationships with google and their products violating and i trust laws that alphabet said at the time that the find that they would appeal but did not file until this week days before a deadline set by the commission for google to amend their business practices commission also find google two point seven billion dollars last year in another and i trust ok so my question is google was down three percent on the day as part of this route in trading and they have shut down google plus that major bug that you know they concealed google concealed from regulators that exposed google plus users to to compromise i mean what do you make of google i guess what do you make of alphabets the parent company of that stock going forward. well i feel bad for the five to ten people that will no longer be on google plus. there's a couple hundred thousand but that shock to my. yeah. the fines for google i

remember when j.p. morgan the london whale had a bad trade and they lost billions of dollars and the stock was under pressure for a couple days but i knew that it would go much higher that a couple billion for a company that is nothing so when you think of google they don't control market share they are the market so the five is the find i think it's a one time cost they might have a little bit of a dark cloud by facebook as have but google as a company is going to be just fine the what i worry more about is snap chat that's someone that's looking to now reinvent their business model and when you see companies doing that that's a larger more systemic problem that you got away about adam we're out of time but we're so glad you're here on this busy and sort of depressing day we hope you'll come back some time to talk about tech stocks and other things that's adam mesh the c.e.o. and founder of adam mesh trading group thanks a lot out of great to have you with thank you so much thank you. indian authorities

have now confirmed the death of eleven people in the aftermath of a fire at a major steel plant another fourteen people are being treated for burns and serious injuries and hospitals a gas fire broke out at the steel plant owned by steel authority of india limited or sale yesterday sale is india's second largest steel producer with the indian state is a large shareholder and the plant has an annual production capacity of over three point one million tonnes each year it is the sole steel supplier for india's railways and sales largest facility six workers were killed on the job and twenty fourteen in a similar incident sale management says the latest deadly accident will have no major impact on production but even before this deadly safety failure sale has missed supply requests from indian railways for three consecutive years sale stock price fell two percent in trading on the bombay exchange and the national stock exchange of india on the news. the government of pakistan prime minister imran com

has announced the government will seek a credit package from the international monetary fund the decision to turn to the i.m.f. may ease foreign exchange flows but the typical i.m.f. prescription of austerity and privatization will almost certainly push mr khan's campaign promises of job creation by public spending off the agenda and may reduce economic growth for years the choice to call in the i.m.f. also puts in question pakistan's current central status and china's belton road initiative given past threats from u.s. secretary of state mike pump ale to oppose i.m.f. credit for pakistan over that relationship the i.m.f. chief economist has warned pakistan against taking on excessive debt which cannot be repaid in dealings with china. and time now for a quick break but hang here because when we return in the wake of news about apple and separately amazon cloud having tracking chips placed in their hardware and they

deny it we speak with cyber security expert the c.e.o. of various software our friend todd shipley and china is building a new social credit system for its citizens what is that and why are they undertaking the massive effort conservative t.v. and radio commentator steve malzberg are to sail off and join us for that discussion as we go to break here are those nasty numbers that the closing bell back in a flash. descending into tribalism and cultural trench warfare highly contentious break out in a supreme court nomination process has ignited passions and anger on both sides of the aisle interesting lee and ironically the point where there is wide agreement is the recognition the status quo. and sadly with no way out.

the way to the united states is dangerous for most of the illegal immigrants. who are still just as they would a simple they want to enter and i won the last post on this topic but i have many of them look for refuge in the so called sentries sides of the draft used to share information about undocumented migrants with federal authorities. they are. listening to. and then the. last and the one that. they can watch as they all choose to stay in the country with donald trump in the white house. they both have the what is the about to be. a safe. post both of you have those of you that most of the. you know world is

a big part of the law and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than we need to be smart we need to stop slamming the door on the bath and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. welcome back iconic you tell us retailers series as reported planning to seek bankruptcy protection sears has not produced profit since two thousand and ten is close more than one hundred locations over the past year at the start of those

closing sears holding operator roughly one thousand sears and k.-mart location. farther in the past sears was once the largest retailer in the world sears stock price plunged about a third from the previous day's closing price on the news going as low as thirty six cents before climbing back above forty cents in the long term perspective sirius stock price peaked above one hundred thirteen dollars back in two thousand and seven. and catching up with the quick shifting right hayling sector there's news to report on the hot battle for market share in asia first a writer hailing service from vietnam is seeking to become a regional player fast go that fast go founded in june of this year says they are raising fifty million dollars in capital to fund expansion into me m r and indonesia the company their apps developed by m p o s technology currently has one hundred thousand users second on a larger scale fastow's more established competitor grab based in singapore is

pursuing an additional billion dollars of investment this week they scored a large increment of that capital and a boost in publicity with the announcement that microsoft will form a strategic partnership with grab that partnership will include grabs use of microsoft's cloud computing and other microsoft products. last week the u.s. government reported that china had compromised computer chips embedded in products that had been sold to amazon and apple both companies and china commented that the reports were untrue and that there was no evidence to support the claim here discuss this with our cyber security expert and friend of the show todd shipley c.e.o. of vera software todd glad to have you back with us what do you have the claims here i mean chopper china has compromised trip chips included parts i guess

installed in part of their motherboard to amazon cloud and apple. amazon says they had no idea they say it was false and apple just says no not true and of course china says no no no it's not true i mean could this happen what's your take. oh most definitely i've been talking about this for a number of years about this very possibility of things occurring within the supply chain system china controls everything if you look at what happens with our hard drives and i've mentioned this and written on this before about hard drives in the fact that every hard drive the united states has chinese products in it you know we've got a problem here where we don't control the manufacture anymore and the chinese government does so it's an issue and it's probably occurred and there's denying at this point but i think in the near future we're going to find out that there's probably something that did occur and we're all going to be far worse off for it because the chinese have controlled everything we own i mean how did how tight how

would they prove this i mean to people like you and vera software and others can they look at it and do some sort of forensic autopsy and to tell whether or not the chips actually existed. well i mean that's part of the problem i mean first of all understanding that it can occur in that there's something there the issue becomes that chips look similar and to actually take them apart and do this kind of review is a very difficult process to try to find this out so there's a gin seas in the background right now scrambling trying to figure out whether this is true or not we have intelligence communities around the world that are are are freaking out about the possibility that they've been owned by the chinese for a number of years so yeah it's happening and it could be something that is detrimental to a lot of things that are going on in the world because the chinese are expanding in trying to take over more and more of you know what's occurring in the world so it's

a big deal and i can understand why apple and amazon would say. it didn't happen although you'd prefer that folks to be honest than maybe they are but i mean. how serious should we take them when they say that they had no reason to believe their servers have been compromised i mean wouldn't their security people todd shouldn't they be suspect of this i mean in the government we always said you know be aware of what could happen i mean it would seem like this is something you take super serious really and you would know if it happened yes or no. well yes definitely they should be taking a super serious because the possibility is always been there now whether it's occurring or not whether able to figure it out as a whole separate issue but they should never just dismissed and said no it didn't happen because the possibilities always they're putting firmware into things and and changing the coding to be something that it wasn't intended to be is always been a possibility so the fact that they're simply denying it i think is problematic now

bloomberg report says that they have the evidence that occurred but they've not produced any of this yet so we have to wait and see how this all plays out but the possibility is there i'm assured that something did occur and that there's you know the probability that we've been compromised in some level now how well they were able to do it is in a social engineering where they're trying to control and coerce the population as opposed to just a real credit system as we know it like in the u.s. or in the e.u. . well bart i think it's pretty clear such a system would never be implemented in this country we our legal system is very different in china so is our culture so is our history but it's pretty clear that president xi is very popular in china and a lot of people in china actually support this move and the argument that they make is this they say look everyone knows that american corporations hire people and fire people demote people promote people based on their values they look for people that are promoting their values and put them forward and if somebody is not

promoting their values they push them backward or maybe they don't hire them or maybe they get rid of them you know that american corporations function in accordance with their values well in china the largest economic entity is the government the government controls the banking sector it controls a lot of key industries like steel cell phone manufacturing and a lot of folks in china say hey you know why doesn't the chinese communist party that leads the government have the ability to reward people if people go and visit their grandparents of people choose not to drink too much alcohol why don't they have the right to then reward those folks and on top of that a burn it be the death penalty just because they think that's the fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people was terrifying to smoothen doesn't mean that we're even many victims' families want the death penalty to be the reason we have to keep the death penalty here is because that's what murder

victims' families want that's going to give them peace that's going to give them justice and we come in and say. we've been through this this isn't the way. the u.s. threatens saudi arabia with replications if riyadh is found to be responsible for

the disappearance of a dissident a journalist in turkey. demanding everything we want to see what's going on here that's a bad situation this is serious it's time for the united states to rethink our military political and economic relationship with saudi arabia continue will be met with contempt. an american graduate student is detained at an israeli airport and held for a week over her alleged support for the boycott divestment and sanctions bill. and france is accused of allowing a toxic pesticide to be used on its territory of martinique islanders say.