today's major news out of brussels where leaders have agreed they have agreed to grant a british breakfast extension to the embattled british prime minister theresa may the per can was kicked down the road from the original date of march twenty ninth which would have been just one week away all the way to may twenty second granting a reprieve of about two more months for the british leaders to come to an agreement on the deal there's one catch though always a catch right ms may well have to get parliament to agree to a bracks a compromise by next week next week if that plan is rejected a new leaders would only grant an extension until april twelfth about three weeks away the news is certainly taken a toll in european markets have leave take a look at the footsie one hundred there the index look at that drop since the news came out yesterday just sloping downward on the announcement and while all this turmoil has been unfolding for it's the may has been taking quite a hit according to a poll conducted last week by i am i p s o s to resubmit his approval rating in the

midst of bracks the bait stands that only an approval of twenty nine percent disapproval rate of sixty five percent despite these numbers ms may gave credit to british voters last night after being granted that extension here's what she had to say of the will of the british electorate last night in brussels and i think that it's important if we want to show that we can be trusted as politicians to respect a decision that we gave to the people we didn't say tell us what you think and will think about it we set his the votes what is your decision and we will deliver on it and i believe it is on duty. as a government as apollo meant to deliver on that. despite all the twists and turns it seems like to resume despite originally being a remainder is committed to carrying through on the will of the voters here discusses the ceo's draw mark will report hillary always

a pleasure thank you for being here ok so i mean it least that this thing is averted for a little bit is it just a big sigh of relief or just a big sigh that they don't have to deal with it next week well i guess they do have to deal with it next well yes absolutely they have to do it and i would say it's a big signs a big sign also few things we have signs about look at how the e.u. treated theresa may when she went to brussels i mean she was can't wait another so nicely five hours she was kept waiting in a room with no windows alcide i mean this is actually ghastly and it shows that the e.u. is not the friend of the u.k. they are making this difficult they're making this tough as we've talked about many times i really like it's the germans uncle a muckle who are actually coming to the side and trying to do everything they can to avert a crash next friday of the twenty ninth it still looks like no deal is better than a bad deal this is a bad deal and why pay thirty nine billion pounds for something that is going to be remaining in the e.u. what is the point and that is the issue right there that's the crux of the issue

and yes you're right she has to have a vote of confidence by parliament to be able to extend it are they going to vote yes on a deal they rejected twice before one would think not there are substantive changes at least that we've seen to date there's a couple things to unpack here and first i want to go on record saying you have been so pressured on these issues so what you write about is what you said was going to happen so we think you know what you read a lot of review actually that would be to say actually interesting something i read in this speech all came out the economic institute german research economic institute just came out and said you know that the blunders by the understudy would not accept such a deal the german parliament would not accept such a bad deal the germans know what they're talking about you know and the only piece of humor in this whole thing i think ironically that the dutch will come up with huber. it was the prime minister of poland mark root came out saying that reset may look like a dark night for monty python for all the old of the year was it for those younger this was a night that was his limbs were hacked off it kept saying you know come on come on

they've got it he was a stand up at the thought of getting to go again to get perseverance so theresa may need should have all respect for perseverance however she hasn't managed to get it through she is right this is the will of the voter slow and the deep state those politicians those ones that have turned into remain as despite the will of the people out there own peril i should add so we're going to get to the point where we've got to have a vote next week even though it's not. you know it's going to going to die next week on the twenty ninth if they don't get this deal their only go right through april twelfth which is only going to be two more weeks where they vote yes on the deal on the deal that they've rejected twice already to vote and that is that issue of whether or not they can even we talked about last time whether or not they can even consider something that substantially similar is that has been done before that was the speaker of the house john boehner said it has the house to be substantive changes in order to vote sixteen zero for ruling that they have to look

like the prime minister will have to make some changes to get around that procedural hurdle exactly where the new you haven't given any changes so as to what changes you can offer when that she hasn't given any concessions she's between a rock and a hard place oh my gosh we appreciate you keeping us up to date hell reported ceo's drummer thank you guillory pleasure. and of course we talk often on the show about stocks that are booming but now we want to tell you about some that are really a major bust biogen a biotech firm based in massachusetts took a big time beating in trading take a look at the company's five day stock look at that one drop there crazy almost one third of the. twenty nine percent wiped out in just a single trading day it's been the worst day for the company since two thousand and five that's fourteen years ago so why well the company announced they stopped the

test trial of a new all timers drug they've been developing with pharma company e.c. this news is in part due to a potential value of the drug sales which goldman sachs had pegged at just about twelve billion dollars billion with a b. here with more details legal journalist molly molly barrows and contributor at america's where hey molly welcome back thank you so much for being with us what happened with this drug that led to this crash. well it's incredibly disappointing bar not only for biogen but also for all timers patients because this was an all time worst drug that biogen and it's japanese partner company were working on and they announced that they are now discontinuing late stage trials of this treatment that was designed to basically do more than prevent all timers but do something to help actually treat the disease in its beginning stages while their data from these trials is showing they're not going to meet their goals and essence it's just likely to be ineffective so they were in phase three which is late stage testing

trials of what's called ad you can you now have in patients with mild cognitive impairment with alzheimer's disease in the beginnings of dementia and there's been a lot of excitement around this trial patients hopes rose along with investors but both crashed as we see now when word came that it just wasn't going to be doing its job so extremely disappointing news for those in the trials as well as all timers patients in general because this drug is the latest in a long list of other medications that they have found that has not been effective either in treating the disease so the search continues but unfortunately this is not going to be the answer so far apart and i hate to ask this question almost because the human side of this is of course the most important and you've laid that out very appropriately and respectfully for folks that were hoping for a cure but how serious was this with regard to a stock plunge. well very serious and it goes to show you again just how big the demand is out there and just how hard they are researching to find

a drug that will be effective in treatment so biogen shares were on track to open at the lowest level saying during regular session hours apart since july of two thousand and sixteen and that announcement that the companies were halting research on the drugs led to at least ten analysts to lower the recommendations from by the hole that was the biggest one day cut and sell side projections for any s. and p. five hundred companies since two thousand this is according to bloomberg and they say there are three additional downgrades overnight including morgan stanley cutting the stock to sell for the last time there was a response similar this was when apple plunged fifty two percent are that was in september of two thousand after or in the quarterly profits would fall short of their estimates and just to show you i mean it the dow wasn't doing just great that day other companies like nike and tiffany have also saying a little bit more than for the four percent so nothing like what bhajan was experiencing it was certainly the biggest drag on the s. and p. well apple at the biggest boost part so it certainly took a big hit we'll see where it goes from here and boeing was

a big down or two in the dow let's get back just for a moment for we close out molly is there any hope in sight for other all timers medications. not right now the real focus is on prevention these companies plan to present the information that they've got future trials and medical meetings to help with ongoing research maybe those finer details will spark some new discoveries that could help the development of new drugs that will actually be effective they feel like they're close to breaking through that they've got an idea of what it's going to take to actually get rid of these these proteins that are in the brain they're effectively causing all timers but nothing that they have developed so far seems to be working so the real focus is on prevention in the meantime it is still back to the drawing board for pharmaceutical companies when it comes to all timers drugs well it's a sobering and somber story but we sure appreciate you covering it so important business story nonetheless molly barrows contributor to america's lawyer thank you so much have a great weekend molly. and you have our thanks. and

staying on the topic of health tyson's food has issued a major recall on its ready to eat chicken strips according to the u.s. food and drug administration the recall has been issued as a result of potential contamination with get this metal pieces maybe those trips are a little bit too crunchy oh my gosh let's check out the company's five day stock price for tyson's which is traded on and why yes see the stock has been up since yesterday but on the announcement of the recall it takes a bit of a slide you can see that down down down there. it's dropped below its previous close but it's been trading trending back up today throughout the day by the way the all time high price for tyson stock was back in december of twenty seventeen at more than eighty three dollars and fifty cents per share and time now for a quick pause for the approachable pause but you won't want to move because when we get back facebook is under fire yet again this time for leaving users passwords on

encrypted leaving them totally exposed to theft conservative commentator steve malzberg joins us to discuss and we'll learn what the company is seeking to do to avert some pretty pretty pretty bad problems plus lauren fix the car coach is back to talk about a hell of a day for one day and a major announcement by general motors this afternoon as we go to break here the numbers of the closing bell really rough day for stocks also in the u.s. worst day since january third by the way we'll be back in a flash. during the great depression which i'm old enough to remember there was most of my family

were employed. there wasn't it was bit you know much worse objectively than today but there was an expectation that things were going to get better. there was a real sense of hopefulness there isn't today today's america was shaped by the turn principles of concentration of wealth and power. reduced democracy attack solo doubt engineer elections manufacture consent and other principles according to no on. one set of rules for the rich opposite. that's what happens when you put her into the. narrows of will which will is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of

america. i think. that. was there because there is this. anything to. say. the same position of serbia in that context. of the international law. are more more on the serbian side i think not all known is a russian by forty four but also just find the ak which got him peace and then immunity all orders.

so you can on the phone lines smoke why don't they can put them in the mother of one of the problems you know them better than anyone so it doesn't get a. lot of them. that they had that. she was even. just a. gentleman but from the sun oh my. goodness bush doesn't. i mean we got the war going on because that was the and.

welcome back well facebook is back in the hot seat yet again and again it's for data protection or more appropriately the lack thereof according to several reports of social media giant a lot hundreds of millions of users passwords and encrypted and available to their data storage this means that your password to your account with your sensitive data could have been wide open to any malicious force that managed to make its way into the company's database of course there isn't this this isn't the first time this sort of privacy concern is plagued facebook and in fact c.e.o. mark best luck or birth of facebook has already answered this for this sort of thing in the past and he did so less than a year ago before the u.s. senate committee and illinois senator richard durbin check it out. would you be comfortable sharing with us the name of the hotel you stayed in last.

no. if you message to anybody this week would you share with us the names of the people you've messaged. a senator no i would probably not choose to do that publicly here i think that maybe with this is all about. quickly after news broke facebook's v.p. for engineering pedro can hootie offered his reassert inches claiming quote to be clear these passwords are never visible to anyone outside of facebook and we have found no evidence to date that anyone internally abused they were properly access them despite reassurances those promises rang hollow for several investors as facebook stock has taken a bit of a slide in trading today although more developments on this story are sure to arise and here to discuss help us dig into the data disaster and more is conservative commentator steve malzberg steve thank you for being with us as always what more do we know about this new password exposure. well facebook says they discovered this

issue in january and most of those affected use facebook light which apparently is used in countries where the connections are slower so hundreds of millions of those users are affected but they say only tens of millions only tens of millions of regular facebook and tens of thousands of instagram users are affected too so that's where we are and again you know is there could be another shoe to drop on this next week next month next year when they finally fess up and tell us the whole truth i don't know and it's also sort of like you know they never volunteer this it doesn't seem like it lisa it's like somebody leaks it and then they finally come forward so they've known about this for a couple of months and that's a little bit disheartening you know transparency should make them a little bit better i would think with all of these seemingly sort of endless problems that sort of reference how has the stock price and the bottom line of

facebook been impacted well today as you alluded to it was down about one percent but for the week it's it's up slightly a couple of bucks the stock is up twenty percent year to date and it's slightly over the last month for about one sixty one two hundred sixty five dollars so no effect really in the stock price recently and and the fourth quarter sales were up thirty percent year over year sixteen point nine billion dollars in earnings per share and active users were up in the fourth quarter nine percent support it seems like you know people are becoming both investors to an extent and also certainly users are becoming bored with all this these revelations this bad news and it's business as usual and crazy you know when we talk about boeing stock and when that first plane went down last october the stock didn't move at all then when you know we were ten days ago or almost two weeks ago. opium plane went down

and then it started to move and now it's moved down up a little bit but it's almost like you have to have some huge disaster with these big huge monolithic companies to to see much of a movement in the stock i know that mark zuckerberg recently discussed information of what he called a supreme court for the company what's that all about steve. yeah well you know he's been criticized certainly for a censoring information of mostly conservatives and deciding what content flies and what doesn't so guess what he doesn't want to be involved in that anymore so facebook which is him is going to appoint what he calls a supreme court and i think he's using that name in vain of about forty experts independent experts so they're going to sit in judgment of what's hate speech what's faith what's acceptable what's not acceptable what's bad and what's not banned and you know i i just don't see you have billions of users millions and millions of posts every day how could any number of people actually sit there and

decide what's good what's not but what's more disturbing is someone is going to sit there and decide what's good and what's not just not going to be sucked up burke it's going to be his disciples so i just don't see how this flies it's still very very concerning only a little bit of time but tell me about the brain computer interface and this yeah it's the facebook at the talking about this for a little while they usually thoughts to do things like type without typing there's no implant in your brain but rather you put on the shower cap like device you put on your head it works through optical imaging technology presumably with glasses manufactured by oculus v.r. which facebook cones so they get inside your mind and you could do things from thought but the question has to be asked but we could leave everybody with this trust you can trust him with your passwords are you going to trust them with your thoughts i think not. not me and you can serve it of commentators the

malls thank you as always steve great great piece really appreciate it thank you board. and steering now into big news on the auto scene south korean auto giant hyundai has dealt a major blow to hedge funds the. leone conglomerate managed to stave off elliott management an american hedge fund that has been aiming to restructure the company that is titian came after hyundai's shareholders slapped down the deal that elliott management put forward in a vote on friday today hyundai which is traded over the counter has been sloping downwards today on the news of the vote intraday trading saw a drop of a dollar in price and here are the drivers seat right now in the driver's seat is lauren fix she'll give us a major auto news not just on this but on a couple other things lauren thank you for being with us as always what do you make of the story about hyundai. i think it's actually good that they were to take slap

down this hedge fund you don't want to hedge funds running car companies car companies should be run by people who are in this industry and know how it works financial people are not great at building cars they're great at finance you know absolutely now hyundai were as i recall we were one or two of the vehicles that your competition dealt with for last year were weren't they the winners hyundai. right north american utility vehicle the year was the hyundai cowen and co no even they're selling them like crazy they've got all kinds of incentives they're really pushing hard and they are selling them and then also part of that sister company is genesis which is the luxury line of hyundai one car of the year with the g seventy and they're going to be at the new york auto show in a couple weeks i'll be there reporting and i know that they've got some really exciting news i'm hearing maybe an s.u.v. or some sort of concept car so i'm pretty excited about what they're doing but the koreans are very excited about this and this is causing good sales of course they've got to produce these cars and then you're going to see it increase in sales

and production and those will all be good things and maybe the hedge funds will just go back to where they came from i mean if they're if they're winning these awards like your award and their increasing sales and production who needs a stick at a hedge fund lauren let price move to g.m. there's a major news today you know we we have sort of the backdrop for g.m. has been they've had these plant closings they've been talking about for the last year and they got into a little bit of a row with president trump for not giving him a heads up but today that's not the case there's a major announcement to spend three hundred million dollars to build a new electric car facility at the orion assembly plant north of detroit a give us an update lauren. well the time by putting in three hundred million dollars into a future electric vehicle which they have not announced supposedly to talk to two hundred employees but you have to remember there is employees there if they're producing cars you're looking at last year's sale of their only electronic electric vehicle which is the bolt evie the only sold fourteen thousand cars and so far this

year they've sold less than two thousand so we haven't sold that many vehicles in this year or last year as we can see how many of they sold yet we sold them being just a few and we're looking at electric vehicles as a whole here in the united states sales are less than two percent so introducing another vehicle doesn't necessarily mean more sales are there the big concern with consumers is infrastructure charging times people don't want to be tethered to a cord we already are with everything we own so while they're thinking electric vehicles are the future is what mary barra said we're going to go all lecoq eventual i don't think we're there i think the future is going to be a combination of fossil fuels diesel natural gas and potentially bio diesel as well as electric cars everyone's going to be able to choose what you want but trying to make us all go electric with a grid that can support it whether it be here or in europe or anywhere in this country is absolutely ridiculous we cannot produce enough electricity to charge vehicles and let our homes and everything else we need you know i was looking at

the stock a while ago and it was hovering around it was down a little bit actually today on this announcement thirty six bucks but do you think hard to figure out traders and prices but do you think that maybe the reason it didn't go up on this announcement people were traders are thinking hey we sort of liked your cost cutting measures some before we're not so sure and maybe we're not so sure about some of the things that you just pointed out lauren. why there's a few things first off when they announced the stock going live again for general motors the timing was terrible they should have waited and had it go out at about fifty dollars a share because it came in the thirty's it is never left the thirty's from the day that they had their new i. p.o. to today it just sorta oscillates in that you know that thirty dollar range also the timing of their announcements of cutting was absolutely the worst i don't know who made the decision but i was at the l.a. auto show during press days when you have to have journalists like myself an analyst and they make an announcement there's going to be cost cutting and i did tell you when we were there that the show floor was kind of split between those

vehicles are not going to make anymore and those that they are going to make and then they make i know their announcement again more cost cutting more layoffs during press days at the detroit auto show horrible timing because when you have a want of journals and less than one location yeah we talk certainly bring bunch of your journalists together and financial people we're going to talk so the timing should be will more not in one location so let's hope they don't make a horrible decision and have another announcement during the new york auto show coming up in three weeks lauren so insightful and agree with you one hundred percent lauren fix the car which thanks very much enjoy your weekend. thank you. and that's it for this time thank you for being with us you can catch boom bust on you tube dot com slash boom bust artie's so long for now see you next time.

i go oh oh oh dear oh. we've been a real good shot to begin murders controls all life. becomes all community young people deciding this they want to pull. their parents not like the liberals are going back. always drugs. you always hear problems but you're not going to focus is the most ubiquitous going out there most police departments use it almost over stores in the school they could get their hands on them twenty four hours. through it teach nice kids about racism about police brutality taking pride in them they are these kids are a part of history.

as your officer. told them to get up off the ground after begin to. hurt them freeze on the sounds of men and maybe a grown man with misleading essentially. pushed it away from the officer the joy of his group. the obviously did a kind of lunge for the web in one's midst and then when it happened on tree swung at concerts he didn't hit him i never saw any contact with. any kind of went back to where they were so the officers back here they're trying again fifteen feet apart at this point and that's when the officer pulled his gun and even turned three. kind of financial survival job today was all about money laundering first to visit this cash industry different. this is

a good start well we have our three banks all set up here maybe something in your something in america something overseas or cayman island to do all these banks are complicit in there just have to call and say hey i'm ready to do some serious. ok let's see how we did well we've got a nice luxury watch for max and for stacy beautiful jewelry and how about. again for a match you know what money laundering is highly illegal for a watch guys record. know how everybody. sleep at.

night was. more than fifty protesters are detained in the latest best rallies in front. of the right to open fire. to gauge reaction in paris was asked for what he did last saturday they burned down and so i think this is a necessary measure bringing in the army as a way of responding to the crisis. u.s. forces in syria declared victory every sonic states after capturing its foothold. and tens of thousands to send for london calling for people.