included was no time to suggest to do did you have w.h.y. the. corinna virus break is a public health emergency of international concern. or keep in mind that designation has only been used 5 times in the past 15 years including for the sake of virus and the bola and it gives the w.h.o. certain capabilities to ramp up the response of governments and organizations around the globe who are rushing to contain the illness in several ways including sending the message to the world that the outbreak is indeed a serious health emergency as for the corona virus itself as many as almost 60000000 people have been quarantined in cities across china with 7700 people now infected and now the 1st in the city of chicago. automakers are now under pressure as many are concentrated in the city of new hand at the epicenter of the outbreak g.m. honda and nissan have plants in one and they have announced that they are withdrawing employees from china and may be suspending manufacturing in the country

past the lunar new year in shanghai officials are providing companies in the sea from resuming operations before february 9th in an attempt to keep citizens at home and avoid spreading the infection g.m. is the largest u.s. automaker in china and the most exposed with an assembly plant in rule on that employs about 6000 workers ford ffion and volkswagen are about 100 miles away from more hands but have also taken precaution and are suspending travel to china multinationals are quickly realizing how much it depends on china not only just for manufacturing and supply chain but also for its consumer power it alone accounts for roughly one 6th of the global economic output one 3rd of the global supply chain and is the de facto world's largest manufacturers it's consumers by more cars and smartphones than anybody else and multinationals depend on chinese tourists to spend about $250000000000.00 a year nearly twice what americans spend for now businesses are evaluating on an

ongoing basis in real time and implementing necessary stopgap in order to keep going and with more on the state of automakers we bring in lauren fix the car coach so lauren the auto sales in china has already fallen for 2 years in a row now and even before this fire outbreak we expected another decline in 2020 so how are other manufacturers weathering the storm and do they have any sort of contingency plans for shifting manufacturing elsewhere. we don't know about shifting plans for manufacturing we do know the being the world's largest car market for china this is a huge impact to not just china but to manufacturers when you have g.m. and nissan and honda toyota all selling vehicles there and having some sort of manufacturing facility and plus all the suppliers for multiple manufacturers there when you have to shut that down because world health organization is telling us you know this is pretty serious and you're watching a lot of people going back to their countries so beyond that we're really looking at is without a contingency plan yes they'll be other countries such as mexico producing product

in the u.s. and and thailand but we're still it doesn't ramp up that quickly when you need parts they have to move tooling and that's not going to happen when the plants are shut down so and as long as this is shut down this is going to impact not just china's overall economy it's going to impact the automotive industry and negative way and they're already hurting what as you mentioned when you're trying to move some of this manufacturing to other countries like mexico for instance it doesn't happen overnight and we're talking about a situation that potentially could be resolved in china within a few months we would think it would last much longer than that but there could be much longer term effects right. that's true there could be a longer term effect because what we don't know is one that you said like you said how long is this going to last we don't know and if so once they finally come up with some sort of vaccine or people get through the the outbreak we still don't know how it transfers and we're told that and i'm not a doctor so i have to qualify that there were i've been listening and reading to

everyone saying that a lot of these germs stay alive on some components and. you know anything you touch for over 24 hours that's a huge concern because it everyone leaves the plant and then never once told to come back to work and one person is carrying this disease you could infect everybody in the plant which could again recreate this outbreak so they're going to have to make sure that everything is really clean before they start inviting people back in and people get shipped back to that country to do work now over in japan authorities issued arrest warrants for former u.s. special forces soldier and 2 other men suspected of smuggling carla's going out of japan so japan also issued an arrest warrant for carlos as well but since he's in lebanon and japan and lebanon do not have an extradition treaty it is unlikely right now that lebanon will agree to hand over however japan and the u.s. do have an extradition treaty so where is the latest on this. well right now there are 3 people 2 of which are ex-pats that were helping this process and we know one of them has a lebanese heritage so i doubt he's going to and i don't know who this person is

specifically or where they live right now but it's unlikely that the 3 of them will get. brought back to japan and i think the reason for that is you have to have actual proof now they've claimed in japan the prosecutors that they have piecemeal pictures together from the hotel worker. at the airport where he was placed into a box getting on an airplane i mean putting all of this together you better have a solid case for the americans to send 2 of their citizens to japan and put most likely be put in jail for life so you'd have to be able to prove that and the fact that they're x. green berets and mean you're talking about guys who really know their business i don't think they're going back to japan now let's move on to another stock that we love to talk about tesla tesla is hitting all new highs today more than 10 percent today on its 2nd straight quarter earnings beat and it's essentially doubling its market cap in a few months so why are we celebrating this

a company miss it's only the 2nd b. that tesla has ever had since they i.p.o. which means that they actually failed for $39.00 consecutive quarters so why are we were warning them so much more essentially doing less bad and not failing this quarter. that is really well put less bad as really spot on you have to look at the numbers of last year to this year look at the 3rd and 4th quarter and we don't have their 10 k.'s but we really do have a grasp on what they've done last year versus this year revenues fell by 3 percent again not a reason to celebrate net income fell by 45 percent and that's pretty serious and the earnings per share dropped by 48 percent and the only thing that's keeping them alive is the $133000000.00 that they have gotten in selling off their carbon credits which is u.s. tax dollars now keep in mind that china is reducing their incentive for electric vehicles also in sweden and germany there are going they move the subsidies to increase and january 1st to try to increase the sales of electric vehicles which

are down there as well and the u.k. they're kicking off a new subsidy april 6th so with that information it sounds like they're selling out a lot of hype but it's odd that they've bolstered the stock by around $60.00 a share when people that are in the finance world are saying well wait a minute this doesn't make sense we've got to almost double what they were last year at this time which creates a lot of concern if it's there bolstering it up artificially and all of the financial people decide that speculators decide to pull this could really be hurt on mosque even though he claims the model why it is semi tractor trailers are coming out we still don't actually have an idea if there's any sales for those just a lot of hype and because of that with your adding in china of course and the disease you know we don't know if he's even going to be able to make those numbers because he shut down as well well and that's the other issue here right a lot of this ramp up was based on tesla opening up that shanghai production for the factory which they've been touting for some time they haven't officially commenced production there yet as you mentioned with the outbreak of the

coronavirus their manufacturing shutdown for them as well and in multiple regions so at this point i mean it seems like everyone that's not just us live right but everyone was manufacturing over there is going to see serious delays we talked about it yesterday with apple they're facing the same thing. right absolutely there's going to be some serious delays i mean right now we could be talking as much as 3 to 4 months we don't know that again i'm not a doctor but from what i'm hearing listening to the world health organization they want to make sure that this is absolutely quarantined that they found solutions to help people they've had quite a few deaths and we don't know of china's actually releasing the true number of deaths and sicknesses and again we're finding now person to person transfer that just happened here in the u.s. so this is very concerning i mean this is much worse and sars virus and so because of that and this is not typical that they that they put out these type of announcements we have to be aware that it has to be cured or controlled before anyone's going back to work so i have a suspicion that the whole auto industry and other industries such as travel and

leisure will also be impacted as well. yeah right now it's not only has a lot of parents on a manufacturer are also affected since they apparently have a 3rd of their entire production capacity in china right now and all of them are raising massive delays and backlog as well lauren fix the car coach thank you so much. thank you. well facebook has agreed to pay $550000000.00 to settle a class action lawsuit over its use of facial recognition technology the news was released as part of a disclosure the company made of its 4th quarter earnings report well the case against facebook has been ongoing since 2015 over violations of the illinois biometric information privacy act it is the toughest biometric law in the nation the case revolves around facebook's tag suggestion to all you know the one that scans photos and then offer suggestions about who that person might be one order to do that facebook was storing biometric data without user consent which by the way

is required by law in illinois facebook it already become more transparent with the use of its tool by 2018 when they allowed users to disable the feature in the settings page most people would know to do that but then they got better and 2019 when they made facial recognition on the platform opt in only this isn't much of a penalty considering that while facebook agreed to pay 550000000 the company reported revenues of 21000000000 in the 4th quarter of 2019 and that is precisely the problem right does it matter what these lawsuits look like what the class action suits ultimately look like because $550000000.00 may sound like a lot but when you're turning revenue to 21000000000 it's now ready budgeted for probably how do you deter bad behavior we have the same issue with google every time google gets slapped with a fine by the e.u. they turn around and say ok we'll pay the fine but doesn't really matter because they've made so much money doing the thing that they're being fined for but they

keep doing the things they're being fined for and it's interesting because i feel like after talking about privacy and all of their violations so if i feel like people might actually finally start starts trying to get ahead now because facebook for the 3rd time in a row their user growth had actually declined on a quarterly basis so if you look at today that they've. hard on earnings even though they met wall street expectations they just did not go as fast as every single analysts predicted so they're basically a victim of their own success right now and i think maybe after talking all the time about privacy violations people are finally starting to get the hint and users are actually starting to drop facebook i think that may be true the one positive and you know i criticize facebook a lot so i'll give them a little bit of credit here the one positive is that in 21000 they did move to the opt in only option as opposed to you know making the opt in by default and you have to go in opt out the fact that you have to opt in i think is it is a positive step forward would like to see more tech companies adopt that where you're opting in as opposed to having to opt out that is pretty much the bare

minimum and marks like a bare minimum claims that $120.00 is going to be the year of privacy for facebook so we'll see about that it is up time now for a quick change here because when we return with brad pitt finally having what is the economic impact of the u.k. leaving the e.u. well breaking down. when a presidential jet for just $25.00 now live will tell you why mexico is offering up their value line and why is that distraction and as we get a break here the numbers have. us.

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a 1000000. they being related illnesses are on the rise as doctors try to understand the cause and what is happening with the outbreak and as a result altria group has once again slashed the valuation of drool labs as it faces a regulatory crackdowns on the isa grab market the value of its stake in jewel fell by $4100000000.00 in the 4th quarter to 12 1000000000 taking a huge write down from its $38000000000.00 valuation when all to invest in december of 2018 this write down reflects the mounting litigation against joy amid the ongoing regulatory a medical scrutiny these cases range from whether or not dual intentionally marketed its smokeless smoking device to teens to whether or not its products cause

respiratory and other long term health problems joel has now pulled most of its flavors from the u.s. market and has scaled back its international expansion and its earnings call today altria met speak straight expectations but due to this huge write down enjoy all. shares fell more than 5 percent in trading thursday altea has a 35 percent economic interest in july and it previously represented a huge long term growth opportunity for altria as a plant its mission to switch adult smokers to e-bay for products that unfortunately has not panned out and it's now expects no earnings contribution from jewel through 2022 what seems like everything the united states government has done to hurt or slow down while way has only made the company stronger in fact while wait just over took apple for the 1st time to become the world's 2nd best selling smartphone company in 2019 shipping 240000000 phones compared to apple's 200000000 both were still short of the world leader samsung which just shy of 300000000 but while ways overtaking of apple is especially impressive when you consider that the

u.s. government block walk away from installing google apps and the android operating system for several months well as we've reported that move actually forced wall way to create its own operating system though some analysts believe that had the u.s. not been engaged in such a heavy campaign against wall way the company might have been able to overtake samsung and be the world leader well meanwhile while we got another big boost this week when the company was given the green light to help build the u.k.'s 5 g. infrastructure joining us now to go up to tory which board member with the british american business association hilary good to have you here pleasure to be here ben all right so we got to dig in on this a little bit so the u.s. again doubling down on wednesday saying that while way is posing no real risk to cyber security for the u.k. but boris johnson he's already said well we're going to have number one only a limited role in this build out number one but number 2 it seems incredibly unfair for the u.s. to go around the world to the u.k. they've done it to australia they've done it to sweden they've done it to germany and said italy don't allow any what we don't have any part in anything you're doing

right especially in your 5 g. build outs but they won't offer any evidence of these back doors they claim may or may not exist from the chinese government how is that fair to put those countries in the. there will be and i agree with you that it doesn't seem fair but one thing i will say is you know that while way is actually mandated to choose to share information with the chinese government i would even argue they're not them they argue they are not but there are those to be mandated i would actually quote tom cotton the u.s. senator who said this is like in the cold war great britain installing. the telephone systems developed by the k.g.b. but don't forget you said a very good point and that is it's only in part of the u.k. infrastructure it's only in 35 percent there are 3 areas that it is not being installed it is not being installed in the main control centers which to distribute the data across the networks number 2 it's not being installed in military installations and number 3 it's not being installed in anything to do with nuclear power stations so it's really only sort of the consumer side the fear was and this

is why boris johnson had to do this the theory is that the u.k. won't be able to maintain its goal of his goal of becoming a great research over technical heart that's what he really wants that's part of his promise for the future so what he's doing is what i call the great compromise he wants to keep china very happy and he wants to keep us happy and he's trying to do a middle road here by 35 percent but just real quick on that so you mentioned tom cotton you're right he says you know this is this mandate which again while we says does not exist they say there's no mandate right let's say they're lying to tom cotton billboard or president truck themselves keep demanding that apple create a backdoor for the u.s. government to get into apple phones so how can how can they obviously the don't believe in privacy right they don't actually want is a terrible terrorist and criminal incidents have exactly but yeah but that is what i think in french i think we actually have a very separate that's what it has to be gatekeepers it's like the patriot act same thing people have people disagree with the patriot act only so i think it's

a little more of the desperate search to be in cases and incidents of the of life threatening circumstances i think that they would put stringent regulations around it yes but you're right tom cotton does advocate that. well now moving from that brand's economy right now is. close to this turning point as country prepares to formally leave the e.u. after nearly half a century of its membership so now what are the expectations for the economy now that is moving forward finally ok well actually just now literally just literally just recently the british building society has come out and said that housing growth has been the strongest and far stronger than expected this january unemployment remains at a low the lowest it's been at about 3.5 percent since $1075.00 and of course wage growth is fast i think the growth hasn't been so strong in terms of historically but it's about on par with or better than most of the g. 7 so what we're going to expect is i think everything will depend on that trade deal what the trade deal that boris johnson is able to negotiate with donald trump i think that the confidence is so high in the u.k.

whether it's unemployment as i just mentioned unemployed prime min wage growth and housing i think when you've got those 3 in line i will refer to what the economist talked about in december and that was they talked about the zombie economy which is that the average consumer is just marching forward paying no attention like a zombie to any of the media doom and gloom and any of the scare mongers because so much of it has been wrong since the outset of the brics it election that the british consumer is ignoring it so you brought up right now the whole trade issue obviously one of the big things of course johnson has to do next rate is he's got to start working out trade deals obviously between the u.k. and the e.u. and then certainly the u.k. and the united states correct president didn't campaign anything in association with were to go she'd in a new trade deal with the u.k. but now he seems to be jumping on the right like this is almost a given this is a good opportunity especially before the 2020 election if you can get something done what do you think are the big hold ups here obviously you know there's kind of talk that wall way doing the 5 g. going back to them could be

a part of that but also that digital tax we talked about the digital x. just a couple weeks ago about france and the actual tax burden of this is out now which is being postponed into the end of the year life which is probably going to go away yes but no boris johnson says well no we've got to have 12. so how much is that going to play a role in this industry to go back to one of the things you said you said many things have been one of the things you said we guess one of the trying to remember the more one of the things you said was that the president did not run on doing a trade deal with the u.k. actually it was embedded in one of his promises with autism which was america 1st said america 1st what is american 1st include it means creating jobs for americans and great trade deals for the u.s. and i think by doing a trade deal with the u.k. it is going to be beneficial to the u.s. consumer why how many i'm always saying this how many european cars do you see in the u.s. i think most of us a scene of a sadie's and seen a b.m.w. around but you go to the u.k. you don't see many american cars at all the british coming in there like we wish we could get your jeep so we have your american cars they have such a cachet in the u.k. but because of trade with the trade deals imposed by the e.u.

american cars aren't sold into the u.k. so i think number one is in america 1st interest it is in the u.s. interest number one number 2 with regard to the trade deal i do think that this is going to be very beneficial also for wine makers for california 93 percent of all products that are bought by the u.k. from europe can be bought elsewhere and what president trump wants is for them to be bought from the u.s. not from china not from anywhere else so he's going to go in with a deal and if i have any sort of bet on this i would say he'll link some of it to these need to be exclusive so that restricts the u.k.'s dealings with china. and now real quick on the eve of break that there's now this strong possibility that the bank of england will announce its 1st rate cut in more than 3 years so this will certainly be a move that could help spur the economy just as bad as it kicks off yes and i was actually in the b.b.c. the left leaning b.b.c. i'm a few years ago said it won't be until 2021 to the bank of england ever even raises rates so i don't think that it's unexpected i think what they have done is they've cut their growth projections and i think that that just shows the general present

isn't coming out from mark carney from the bank of england i think that what it's doing is it's basically trying to hold steady recognizing not only what we just talked about trade deals but i think that everybody now is shocked to realize they could be a black swan at any time a black swan being a sort of a unique instance of something that shatters the markets like the. court over the wires yeah yeah heller forged by a member the bridge american businesses and station thank you so my pleasure pretty bad. or if you have ever dreamed of owning an air force one where you can keep dreaming about that but you might be able to get the mexican equivalent and it could cost you just $25.00 that's of very good price mexico's president wants to auction off the presidential jet because he says it's too extravagant for the head of state of a developing country these slightly used boeing 778 dreamliner has not been used at

all by president address man well lopez obrador since taking power a little more than a year ago the president has been flying commercial in economy and reportedly sometimes even in the middle seat. that's a mistake turns out it is difficult to sell a $130000000.00 jet designed for a head of state in mexico has already spent $1500000.00 just parking the thing in the california desert so the new plan to offloaded the president wants to hold a national raffle with each ticket selling for $500.00 pesos which is about $25.00 the aim is to sell about $6000000.00 tickets and it's also created this huge kind of social media storm in mexico with people posting you know twitter pictures of like where they would put it in their garage or you know they'd wake up in the morning and get ready and it but some criticism for the president has been that he's doing this as a distraction to distract from the incredible violence from drug cartels there the mexican economy what's going on and that this becomes almost as one mexican senator

put it he said it's like the romans offering bread and circuses to distract from really was a very accurate statement you make i like is most i meant $1000000.00 mega jackpot and it creates all this kind of frenzy that people want to focus on the positive they want to focus on what happens if i do when you know why knight has had to pay for the cost of storage and life that if i just time you can catch moments on the man on the brand new part on t.v. ad available on smartphones the google play and the apple app store by starting point on t.v. or stream us to your t.v. by downloading portable t.v. app on apple t.v. and online a part of on t.v. . on more devices or as always you can sit inside of your mexican presidential jet and watch as that youtube dot com slash boom bust our teeth to see about your next time. we don't want to. be with an axis and the monument you want to kind of.

streets filled. with this space has come from so maybe i love going to conferences and debates and such events like the battle of ideas above a concern. these are the kind of things this is just arriving on gives us that imposts making connection with other people to set up projects. during the great depression which old mr remember there was and most of my family were unemployed. and it wasn't it was bed you know much worse subjectively than today but there was an expectation that things were going to get better. of there was a real sense of hopefulness there isn't today today's america was shaped by the 10 principles of concentration of wealth and power. reduced democracy attack solo debt engineer elections manufacture consent and other principles

according to no i'm chomsky one set of rules for the rich opposite set rules for. that's what happens when you put her into the hands of a narrow sector of will switch 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.

britain prepares to outline current stammerer way from the e.u. that heads into the uncharted waters of gregg's it and the weather brewing mutiny from both scotland and northern islands. as fears over the corona virus outbreak grow people around the globe reported spike in discrimination against chinese people. and it's a race against time to save a one year old boy's life as his parents try to raise the millions needed for the world's most expensive medicine. i am. i and i and. a very warm welcome you're watching r.t. international with me you carol.