this is boom bust the one business show you can't afford to miss i'm sorry to say ok in washington coming up with global focus on the coronavirus chinese researchers are now keeping an eye on a swine flu like virus and one that has the potential to create that i can damage on a cold 20 universities paid more than $1000000.00 in ransom after 5 are attacked these types of intrusions are as much as 100 percent according to a new report show today so let's go and.

global efforts continue in the race for a covert 19 vaccine or even a treatment that could help probable pull the pandemic will british regulators approve a global trial to restart testing drug sykora quinn and chloroquine to see if they can prevent infection with cobra 19 well the food and drug administration revoked emergency use for the drug after a trial showed they did not benefit as treatments but this cop called trial it's going to look to see if the drug can be used as a potential preventative medicine meanwhile on tuesday the european writing concerns over the recent krone virus bikes across the country will russia and brazil are also barred the list of countries deemed safe include australia canada japan new zealand and south korea will the u.s. still leads with the highest number of kate. says more than $2600000.00 americans

have been infected with the virus leading to more than 125000 deaths and the country that accounts for only 4 percent of the world's population is also accounting for 25 percent of total cases worldwide director of the national institute of allergy and infectious diseases dr anthony thought she appeared before a senate committee on tuesday and said he's concerned that the country is going in the wrong direction we are now having 40 plus 1000 new cases a day i would not be surprised if we go up to $100000.00 a day if this does not turn around and so i am very concerned we cannot forget that what was thought to be unimaginable turns out to be the reality that we're facing right now so relates to the kind of appreciation that outbreaks happen and you have to deal with the middle a very aggressive proactive way and as

a world continues to struggle to contain the corona virus trying to scientists have identified a new strain of flu with a potential to become the next pandemic will that new strain it descended from the swine flu which emerged back in 2009 and is carried out by pigs well professor chinchilla chiang from nottingham university in the u.k. told the b.b.c. right now we are distracted with corona virus and rightly so but we must not lose sight of potentially dangerous new viruses for the latest on the market i'm joined by of the trading group co-host chrystia chrystia let's start with you u.s. equities are headed for their biggest 1st quarter gains in years now both the dow and the s. and p. they're on pace for their bus quarterly performance since 1988 is this rally expected to extend into quarter 3. well like the 2nd quarter rally this was primarily driven by the trillions of dollars of new stimulus pumped into the economy and you also have a lot of hope hope for vaccine hope for economically openings and balance hope that

everything is just a temporary blip but as we begin q 3 only one of those tailwinds currently in place and that's going to be the government stimulus now right now the old saying is never bet against the fed because even though it's only one tailwind now it's a pretty big one so it's going to be very difficult for the market to tank when you know when you continue having that safety buoy holding it all up so that doesn't really mean the rally will continue higher though you know because this really isn't any positive force driving the market as we enter into the slow start period so likely we're going to be pretty range bound i will trade sideways until the upside or downside and really where does one stimulus disappointment away from a really really ugly day and it looks like the market is really driven by a lot of these headlines adam fed chairman powell and u.s. treasury secretary steven minucci and testified before the house financial services committee earlier and they offer 2 different perspectives here on how quickly the

economy is really going to recover now we heard the treasury secretary talking about how strong it will come back and how quickly it will then we heard powell saying that it was recovering more quickly than expected but still there are a lot of risks that remain with the resurgence of these cases and the steps the states are taking with the reopening or at least backwards that is what do you make of this. i think it's pretty transparent one policy he doesn't have an agenda. for what will manage our economy the best way possible and that's that's not. so surely to me and i understand why there's an election coming up that's obvious you know who would do what they're doing but they were the same ones criticizing nala for not cutting prior to this. and had he cut rates then we would have been missing a lot of ammunition to handle what we experience now so i'm watching this game play

out and so far everything power has been more correct than the administration so he's who i'm going to listen to going forward and if he says there's still a lot of concerns and i'm still going to be concerned well out of these these new games that we're seeing in the in the market is it really because we hit almost a new low following the crowd of iris and a few months ago. this is if you for a time in the market i don't think anyone can explain and i think the most logical explanation would be that the government is stock up in the market and they kind of overdid it because there's an election coming up because of all the concerns are your if i and the country is going to hit this kind of backstop in their economy but it's slowed steroids in baseball you know it's fun to watch for people who don't run so well once they want to clean up their game. you know it doesn't look

so good but the best analogy i could say for someone who doesn't know about the market is watching this unfold is if you ever play the game monopoly imagine playing monopoly and you're your own back you up on the funds while everyone else us to play within the rules of the game you're going to win so the government is doing it doesn't feel real it doesn't make sense but you certainly can't buy that that's what it's looking like a christan i want to switch over to commodity side royal dutch shell is writing down up to $22000000000.00 worth of assets and it's now revising some of its long term energy price outlook given the coven 1000 head what's going on there. all the oil markets i will now they've gone pretty decimated getting hit by a double whammy a tonne of supply coming online and a complete lie. demand from all the grounded flights in grounded travel so it shall warn about severe cold related impacts and the ongoing to ration care all energy products and right now this write down costs shall shows to drop over 2.5 percent

today even though most of these charges were pretty much expected the biggest surprise actually came from low pouring their findings margin assumptions over time by 30 percent as it's kind of indicates to the market that this expectation is this is the expectation and benchmark going forward and that a recovery in prices is not going to happen here and shell is also responding to this new normal by cutting its dividend for the 1st time since world war 2 and they also lowered planned spending this year by another 5000000000 to the maximum of 20000000000 so right now this is really a difficult message for shell to get out because it is essentially saying that the long term future demand for fossil fuel it's just not there anymore shell is the world's largest fuel retailer and it is now expecting a 40 percent drop in sales in the 2nd quarter and this is likely to be the 1st of many reportings so this was a big fat wake up call for pretty much the entire industry now adam we have about a minute left let me turn it over to european stocks that are also closing higher

on tuesday they're wrapping up their best quarterly performance in about 5 years what's popping up the market over there what's what's the data showing. well here you have a couple things number one is to our back stock and they're commonly to the tune of $1.00 trillion dollars so if you have that whole don't buy the 1st don't buy. it you know you know they're doing what they need to be doing but also europe has been handling this pandemic much better than we've got off their numbers are way down versus auster now opening up their countries they're not including the u.s. in that because we're not there. so they have the benefit of our money coming in last they're handling the virus better so they are closer to returning to normal and so it kind of makes sense if anyone is going to be going up it's more likely then they're not now not there makes sense to me i think they were just we are logically explain that that's why they're locked down who are much stricter

they lasted a lot longer as well and people were following them which is very different from what we're seeing here in the united states i understand the economy has to run but lives are at stake and and unfortunately what we're seeing these in these cases that continue to climb it will continue to to make the stock market really volatile but we'll continue to monitor adam ashe of the atomised trading group and boom bust co-host christine thank you for your time today. you know. with more people working from home during the pandemic the risk for hox has search well earlier this month a new walker criminal gang the university of california san francisco the group attack networks within the school of medicine and a leading medical research institution took part in some ransom negotiations citing important information for serving the public good well u.c.s.f. statement added we therefore made the difficult decision to pay some portion of the ransom approximately 1 point one $4000000.00 to the individuals behind the malware

attack and exchange for a tool to unlock the encrypted data and the return of the data they obtained for more we're joined by cyber college and chief security advisor for sun tunnel one morgan right morgan thanks for being with us today good to see you could see answer well let's let's start with this basic question the university said the information was obviously very important to serve the public good it doesn't look like any patient information or records were actually exposed it paid 1140000 dollars and a go she did with these hackers is this pretty common. yeah unfortunately it is you get a lot of people who don't invest in the cybersecurity health care is one of those areas actually a good friend of mine is the chief security officer for the health ice act one of the information sharing analysis centers they're doing better but they're not doing the job they ought to especially with protecting data i mean hollywood presbyterian was the poster child for the 1st ranch where case now it was really publicized that

it health care so if you think about it this way that they paid $1140000.00 in ransom had they spent that money earlier on things like cyber security hardening their defenses applying artificial intelligence you know really secure things they wouldn't be in this position right now and i tell people you will pay one way or the other you will either pay now for the solution to stop everything or you will pay later to get your files backed if you get it back a lot of the research out there even closing our own shows at about 45 percent of the time you don't get your files back and out of those about 25 percent of those people end up getting attacked again so there is no such thing as honor among thieves sarah i wouldn't trust these guys other than i could from my computer and it's even surprising that they got some of the not information back but we are saying that more and more hacks but a recent unisys security report found that less than one 3rd of americans or about 31 percent actually said they're concerned about their security data but the f.b.i. the internet crime complaint center that show online crimes have increased by 400 percent why aren't americans concerned. you know sir that is

a really good question and i'll tell you i think some of that is everything that's going on right now everything from the social unrest to coated to some of these other things when we saw a poll that hit we saw an explosion of fraudulent sites covert 1000 people saying they have the cure everything these things exploded i mean of scams you know of all types were prof you know we're profiting they're just drawing a mentally and i think people begin to get fatigued and people don't take a lot of time to secure their own infrastructure and i'll tell you that the fact that you know like say 31 percent you know that is a very small number considering he's had this technology around for years the internet's been around you know for 25 you know going on 30 years now so why people are doing it i wish i had the answer to that i mean we do a better job of working our seatbelts than we do securing our own computers especially with so many people working from home and definitely for now more let such care is here a little bit we're just learning more about the federal communications company that

the that made the telecom companies like wa and the t. as a national security risk we thing this back and forth for quite some time now is this more of a political move or if it's an actual threat. politics involved in any decision with any government i would be shocked no not really i mean of course there's politics involved the united states is engaged with china not only because it coded the attribution of where covert started trade wars things like that but this is not just confined to the trough administration this is going on during the obama administration in fact the 2012 senate report kind of was laid out the markers for everything to say look these folks are a threat you have people that were members of the chinese people liberation army that are members of huawei and huawei is not a publicly traded company neither is 80 nice folks are very opaque you can't see what's going on so you know i think that this was the natural culmination of what was going to happen and i'll tell you part of this syria is the positioning around 5 g. 5 g.

is obviously a very strategic kind of a play for everybody i know that the 5 eyes alliance u.s. u.k. canada australia and new zealand us was pushing really hard britain said they were going to do it and they pulled back so they're not going to allow way into certain core parts of their network so you know we're saying this is a global play it's not just us this is one writer in it but the fact that many no sense a huge message out there to the market i think it's interesting after the us commerce department did say that they wanted help in other of these networks chinese companies to help with setting standards not too long ago so we'll see where this goes from here the f.c.c. a thing one thing we'll continue to see because i know they've also sent waivers to these companies who can continue to do business so it'll be really interesting and we'll continue to follow and bring you the latest morgan right cyber security analyst and chief security advisor for sentinel one thanks again for your time and it was good to have you on. good to see you again sir. time now for a quick break but stay here because when we return we take

a look at the controversial chinese law into hong kong and what it could mean for one of asia's biggest financial hubs and as we go to break here are the numbers that the closer look. a little. little. little. something for you on your sports h.q. . 00.

0 by. an ocean of stories even the news worth knowing can overwhelm you. you can even your way i know you want it all let me bring you the bad. it's easy just. play. made my students birth new question. number it's as stars and endless as the sea and bring you all in some distant death and. keep driving all that remains in question. i'm a journalist it's all i know being a truth teller people say i make them uncomfortable good news is like

a jackhammer with drill down they find the truth nugent rick sanchez because it's time to do news again and question more. i like it when lee hosts ask the question for the guests and then actually listens to the guests answer and then react to that answer a folks dennis miller here got a new show. growing tensions between india and china are spilling over into the world of tech well india is banning dozens of chinese based apps including tick-tock and we chat according to censor tower about 30 per cent or 611000000 out of tick tocks 2000000000 downloads came from the world's 2nd most populous country while an

animosity has been growing between india and china since a deadly may border clash in the himalayas india accused the apps of being pretty traditional to the sovereignty and integrity of india tick-tock denies sharing any information with the chinese government and say they've complied with all indian law. in the midst of protests around the world a new document has been published in hong kong which shows the full scope of a new chinese law to crackdown on protests will the law which is passed by beijing under the guise of national security calls for penalties up to life imprisonment this law it was drafted by china's legislator in unusually swift and highly secretive process and would have huge implications for pro-democracy groups well businesses schools and media across the country joining us now to discuss is a boom bust co-host on the particular maternalistic ben swan and editorial director

for the american institute for economic research geoffrey tucker good to have you today ben let's begin with you give us a rundown of what this new national security law includes. yaz is kind of typical with these kinds of things the language is relatively vague and leaves a lot open to interpretation but essentially it criminalizes and i want to quote here session this subversive and terrorist activities in hong kong as well as acts of collusion with foreign forces that in danger national security now when you take a look at some of that wording secession a subversive and terrorist you can make a whole lot of things fit into those categories in terms of protests people speaking out even free speech on any level could be on some levels described as these things because these are very relative terms and then in terms of working with foreign forces does that mean when groups like the united states come in and try to promote those pro-democracy movements now we can have a debate over whether or not that's a good thing or not for the u.s.

to be doing but are those acts now criminalized under this law and it appears that they are. interesting given that we witnessed those firsthand when you know i traveled are to america traveled to hong kong but jeffrey i want to ask you this law will now be interpreted and now implemented by beijing and not the city court in hong kong what kind of concerns to raise. look there's this is tremendously concerning and what you see here is beijing acting in a very aggressive way in a time when the u.s. has never been weaker maybe it's not obvious to most americans for read the last 3 months during the lockdowns we've really begun to see the beginning of the end of the american empire really the decline and fall and beijing knows this you know the u.s. can have almost no influence i was saying at all over what beijing's relationship with kong is so we've squandered every bit of influence that the us has had around

the world and beijing has definitely taken advantage of that to their own benefit of me and then china and their imperial and it's really sad to see and of all things u.s. can do nothing about it well it's really no surprise that beijing is actually taking advantage and using this to to to benefit the country then it's pretty interesting here though the business community and china actually think to be supporting this new law why is that. well because if you're in the business community in china and you don't support or beijing does you're not going to be in the business community in china for very long the reality of what is happening there is that many of these major chinese companies are taking up offices in hong kong and they're saying they're in support of this well listen in the chinese system is not a system that fosters independent thought and certainly does not foster independent action so when you see companies like bite dance the owner of tech talk moving into hong kong and buying a new retail space in order to put their offices as they are doing that of course

they're going to say we think this is a great law but what jeffrey said is absolutely correct that we are witnessing a huge decline in the american empire but what we're also witnessing simultaneously is the chinese exerting themselves in ways that they happened in the past but they've been gearing up to for some time the real issue is what do you do about it i mean the u.s. loves to come in and foster disruption in systems that it does not like or does not think are supportive of it but that again is fast coming to an end it's very difficult for the u.s. to try to use the same playbook that they'll use in a place like libya or syria as they would in trying to foster unrest in a place like china it's an entirely different game won't back up again i think you know. well you know i think it's really important to remember that you have to think back over the last 3 years and us china to relationships you know trying to squandered all of our trading relationships we had we've had unrelenting antagonism you played a very dangerous game of chicken with china and basically lost and so now the u.s.

sacrificed even kind of a diplomatic relationship with china you've got china furious at what the u.s. has done but has to with the terrorists in the trade relationship that's really been. the miss mishandled as a result of us is now sitting here a poor pathetic windswept country the whole world's banning us from flying there you know europe's. and it's like it's a retaliation for trump you know so we are in a static sinking country right now and china is just like chewing well guess who won that struggle well it's been quite quite the attention for the last couple of years like you saying with china because of the trade war now we're seeing a possible new terrorist with europe as well so i know relationships with the united states and other countries the way other countries see the united states unfortunately it is deteriorating and unfortunately has a lot to do ever since you know the president came in and destroyed

a lot of treaties that we've seen happen over the last few months and jeffrey crocker said something go had been this very quickly is very quick but to what jeffrey say it doesn't have to be this way america does not have to be this withering fruit on the vine instead if we would stop so we discord to create weakness in other places in order to make ourselves strong and instead focus on developing american strengths i think we would be much better off i mean we are the world's largest economy and we'd like to keep it that way jeffrey tucker editorial director with the american institute for economic research thank you but we're going to keep you around for one more question following the next story thanks pfizer for it at starbucks and coca-cola are the latest companies that say they will stop buying ads on social media will facebook in particular has been the target of the stop hate for profit campaign all the group is made up of a number of social justice organizations calling for stricter moderation and rules for hate speech racism and even misinformation but facebook says a new policy will ban as which encourage divisions along race religion gender and

even sexual orientation but last week on this show you said this movement would only work if many more sponsors got involved is that what we're seeing here. well i think it's what we may be seen here in the real question is going to be how many sponsors get on board with this facebook does about $800000000.00 in advertising through companies on its platform if there is a nuff of those companies that say we're not going to advertise facebook ok but if a company like coca-cola say we won't go anywhere with those dollars the truth is companies like facebook can wait them out because the reality is coca-cola needs to advertise through facebook and big companies do more than facebook needs that's true and a lot of companies other companies may as well but most co-host investigative journalist ben swan thanks thanks again for joining us today. at the time catch you must on demand a brand new portable t.v. available on smartphones through google play on the apple app store by searching part of the t.v. or stream us on your t.v.

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led. by. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or remain in the shallows. but a quick history lesson in economics you know people talk about socialism what is socialism business idea that labor as value and that people want to take part and the means of production and. starting in the 1980 s. that became obsolete because all wealth was tied to money printing today and 2020 so that would be 40 years later and this phenomenon 1st so called activists and labor rights activists and workers are getting out that the problem

is not about the means of production the problem is the money printers and they're taking. 54 jets and more than 1300 military personnel are headed to air force base in alaska where is that to say come on i'll show you what's the reason for any type of enhanced u.s. military presence in this area rush up. what is it suddenly about the south china sea that makes it so that it is 11000000000 barrels of oil. take a look at this map who really owns what kind of says no it belongs to us india says no we claim that.