this is 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 and i can tell 20 universities more than $1000000.00 in ransom after 5 or attack type of intrusions are as much as 100 percent according to a new report 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 copd 19 well the food and drug administration revoked emergency use for the drugs after a trial showed they did not benefit 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 union's 27 members announced a ban on travelers from the united states citing 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 cases more than 2600000 americans have been infected with the virus leading to more than $125000.00 deaths in 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 fauci 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 the kind of appreciation that outbreaks happen and you have to deal with them in 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 well that new strain it descended from the swine flu which emerged back in 2009 and is carried out by pigs well professor

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 and boom bust co-host chrystia christy 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 best 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 a vaccine hope for economically openings and balance hope that everything is a temporary blip but as we begin q 3 only one of those tailwind is 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 this sort of period so likely we're going to be pretty rangebound trade sideways until the upside or downside and really we're just 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 can he doesn't have an agenda only he is looking for while managing our economy the best way possible and that's in administration that's not how can i say cheerleading the economy and i understand why there's an election coming up that's obvious you know who will do what they're doing but they were the same ones criticizing nala for not cutting routes prior to spend and. then we would have been seeing a lot of ammunition to the what we experience now so i'm watching this game play out and so for every power has been more correct than the administration so he's going to listen to going forward and if he says there's still a lot of concerns that i'm still going to be concerned well out of these these new

gains that we're seeing in the in the market is it really because we hit almost a new lows 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 the count over did it because there's an election coming up because of all the concerns are yours of the op and the country is going to hit its kind of backstop in the economy but it's slowed steroids in baseball you know it's fun to watch for people who don't run well once they want to clean up the game. you know it doesn't look so good but that's an analogy i can say for someone who doesn't know about the market is watching this unfold is if you have a clue the game monopoly imagine playing monopoly and you're your own back you up

on the front 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 it that's what it's looking like a current christan 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 covert $1000.00 hit what's going on there. all the oil markets i will now they've gone pretty decimated getting hit by a double whammy a ton of supply coming online and a complete lack of demand from all the grounded flights and 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 cost shell shows you drop over 2.5 percent today even though most of these charges were pretty much expected the biggest surprise actually came from low balling their finding 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. too 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 but let me turn it over to european stocks that are also closing higher on tuesday they're upping 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 amerikana me to the tune of $1.00 trillion dollars so you have that whole don't fight the fed don't fight. but you

know you're out there doing what do you to be doing but also europe has been handling this much better than we have their numbers are way down versus auster now opening up their countries they're not including the us or not 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 than not now not to make sense to me i think we're going to rust 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 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 adams trading group and boom bust co-host christi i 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. good see again

sarah well let's let's start with this basic question the university said the information with obviously very important to serve the public good it doesn't look like any patient information or records were actually exposed it paid $1140000.00 and a go she did with these hackers is this pretty common. 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 icepack 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 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 would 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 fact if you get it back a lot of the research out there even clued in 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 on or 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 i receive them out 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 are about 31 percent actually said they're concerned about their security data but the f.b.i. has internet crime complaint center that show online crimes have increased by 400 percent why aren't americans concerned. you know sara that is a really good question and i'll tell you i think some of it 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 coded hit we saw an explosion of fraudulent sites 1000 people saying they have

the cure everything these things exploded i mean rips of scams you know of all types for profit you know we're profiting you'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 right we've 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 that made the telecom companies like wa and the at the national security risk we think in those back and forth for quite some time now is this more of a political move or if an actual threat. politics involved in any decision with any

government i would be shocked you know not really i mean of course there's politics involved the united states is engaged with china not only because it coated the attribution of workover 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 a 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 very. 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 you to search for

parts of their network so you know we're saying this is a global play it's not just us this is one where you are in it but the fact that many no sense of huge message out there to the market i think it's interesting after the u.s. commerce department did say that they wanted it while ways help in other of these networks chinese companies to help with setting 5 standards not too long ago so we'll see where this goes from here the f.c.c. is saying 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 it 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 a controversial chinese ally into hong kong and what it could mean for one of asia's biggest financial hubs and as we go to break here the numbers that the club .

i know no crowd. no shots no. action to be. well. no one. points your thirst for action. the one guy appears he was a may found him literally dead like this standing up. a guard here and his girlfriend they were found in their apartment that they just. cuddled up and they were dead for like 3 days holding each other this wall so people who have lost

their life shirley to addition yeah this is from akron. that crown is better known as the meth capital of the high and it's a city where the number of drug addicts keeps growing every year. i came up when i was 14 in my whole family were drug addicts. throughout much of the 1990 s. and beyond and the doctors were incursion in some cases incentivized to overprescribe. i mean that enough to sedate a small country where you should also hear about people by all that said good stuff man we gotta go get to a dead guy craig. he knew too much you know to do it. and they're still coming you know one after the next. but a quick history lesson in economics you know people talk about socialism what is socialism business idea that labor has value and that people want to take part in the means of production and the guest starting in the 1980 s.

that became obsolete because all wealth was tied to money printing today in 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 the means of production the problem is the money printers and they're taking action. i know t. . shirts. actually felt. very strong no threats to. which your thirst for.

growing tensions between india and china are spilling over into the world of tech well india is banning dozens of chinese based apps including take talk 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 well 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 and investigative journalist 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 the 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 this 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 at all over what beijing's relationship with the congo is so we wondered every bit of influence that the u.s. 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 ams 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 the business community and china actually came to be supporting this new law why is that. because if you're in the business community in china and you don't support the beijing does you're not going to be in the business community

in china for very long with 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 in the pin thought and certainly does not foster independent action so when you see companies like by 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 game 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 go ahead jeffrey 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 relationships you know trump just 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 it is to with the terrorists in the trade relationship that's really been . the mis mishandled as a result of us is now sitting here a poor pathetic windswept country the whole world's banning us from flying their you know europe's band of flights in retaliation for trumpet you know so we are a pathetic sinking country right now and china is just like cheering

well guess who won that struggle well it's been a quite quite the attention for the last couple of years like you think with china because a trade or now or thing a possible interest with europe as well so i know relationships with the united states and other countries the way other countries the united states unfortunately it is deteriorating and unfortunately has a lot to do ever since you know the president came in and then destroyed a lot of treaties that we've seen happen over the last few months and jeffrey crocker said something that they 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 sowing discord to create weakness in other places in order to make ourselves strong and instead focus on developing american strength i think we would be much better off i mean we are the last words 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 that starbucks and coca-cola are the latest companies that say they will stop buying ads on social media well facebook in particular has been the target of the stop hate for profit campaign will 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 the real question is going to be how many sponsors get on board with this if facebook does about $800000000.00 in advertising through companies on its platform if there is enough of those companies that say we're not going to advertise facebook ok but if companies 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 or may politics as well but most co-host investigative journalist ben swan thanks thanks again for joining us today. at the this time catch you must on demand a brand new portable t.v. ad 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. by downloading the portable t.v. at an apple t.v. and online a part of the t.v. . but a quick history lesson in economics you know people talk about socialism what is socialism business idea that labor has value and that people want to take part in the means of production and guess what 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 than this phenomenon 1st so-called activist and labor rights activists and workers are they getting out that the problem is not the means of production the problem is the money printers and they're taking action. you can't be both with yes you like.

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 russia. what is it suddenly about the south china sea that makes it so that it 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 that belongs to us both of these countries have nuclear weapons capabilities there is reason for concern so that's why we're going to drill down on the story for you today right here on the news with rick sanchez where you know as we always like to say we do believe by golly it's time to do news again.

spiking coronavirus numbers claims of russian bounties against u.s. troops and a race is 3 tweets from the president 2 men with very different perspectives joining me for reaction 1st former republican congressman bob barr and then retired army general russel honore a on this edition. of the politics. i'm larry king spike in coronavirus numbers a bombshell claim about russian bound is against american troops and a shocking presidential retreat including a white power chant plus ongoing protests about race and policing will lead of the discussion with.