but we also need to do more to. the outsized cauldron footprint of the richest people and that means things like much higher taxes luxury call button consumption like big highly polluting cause cloyd's private jets ok that's the news for this hour of the washington the boom bust same shortly all that have you next our t.v. world news in just under half an hour from now.

this has been bust that one business show you can't afford to miss unfair monteux say ok in washington coming up the president from approve a big tick tock deal but many questions remain unanswered. we have a deal worked out i think with wal-mart is going to buy it along with oracle larry ellison it's going to be an incredible combination. and another stock market selloff sentiment hours on a coronavirus resurgence in what could be worth the september and years of a packed show today so let's get started. in a change of heart that maybe happened in record time president donald trump went from banning tick talk from app stores on friday to suddenly approving the oracle walmart deal by saturday yes and just 24 hours after saying that he would not agree to buy down selling 20 percent stake to oracle and wal-mart while the president changed his mind now trump says he has agreed in principle to the sale which will

create a new company called tick tock global and the trumpeter ministration well they've postponed any bands and app stores for at least another week. you know we're very close to a great deal with tick tock tick tock joe about 24 hours ago that's all they talked about is tick tock tick tock. we have a deal worked out i think with wal-mart is going to buy it along with oracle larry ellison it's going to be an incredible combination and i said you know do me a favor could you put up $5000000000.00 into a fund for education so we could educate people as do real history of our country the really. great. turning us now to discuss our boom bust co-host spence juan and chrystia i kristie break this all down for us what changed between friday and saturday. nothing really changed the only thing that changed was that trump ran out

of time due to the deadlines that he consults set in place so he announced that this deal was approved in theory in mind and so a lot can still happen because remember last year the trade war a we have an agreement now we don't but a we're really close now but oh no there's one more provision that we want so that kind of back and forth went on and on and blew through every single of deadline during the trade war so the same thing is happening here if. i was deadline that would be the end of it no more negotiation and no big win for him he might say that if we get a deal a tick tock that's great if we don't that's great too and he might say that in public but he knows that any sort of deal and better than no deal at all because at least then he can spin a deal into a win for him so now he can say that he won because tick tock will create about $25000.00 new jobs for america and he also promised to set aside the substantial amount for an education fund 'd and also take the global with paying more than $5000000000.00 in new tax dollars so nothing really changes at the deadline and all

that does is postpone the band out to september 27th or christie you mentioned the whole back and forth comparing it to the. u.s. china trade or are we going to see another 2 years of this. i don't think it will be in 2 years of it but i do think that there will be substantial back in for the night to get all the deals hammered out into pieces because there's still a lot on the table to negotiate well then as you heard christie say you heard our president mention the statement he made about the $5000000000.00 going into a fund to educate americans about history now. yeah it's an absolutely ridiculous statement look the remember the president originally wanted a substantial amount of money to flow into the u.s. treasury administration lawyers said you can't do that you can't broker a deal between 2 private companies and have them give a basically a finders fee to the government that does it doesn't work that way well now he's kind of double back on this right now saying that he's talked to oracle and he wants 5 $1000000000.00 put into an education fund to educate americans on the real

history of the country this is if you want to create a fun find create the fund bears nothing to do with technology and has nothing to do with the tech talk deal of larry ellison once the fun the 5000000000 dollar deal but the other thing is this you know christie and i both talked about this last week and we were asked on this show will this deal come together and both of us said we don't see how it wouldn't come together and then it turned around on friday that wasn't coming together and we're like what happened but it took less than 24 hours were to come together why because ultimately oracle and wal-mart get exactly what they want here they have no right to this company they have no right to tick tock it doesn't mean that we're defending by dance or to talk itself but this is not the way that america is supposed to run business and or even have a free market in which government comes in and forces a 20 percent sale of the most valuable social media company right now in the world and you're forcing to sell to other americans and creating jobs all the things the president says are wins here are done by feel it and not through a free market system and that's very troubling so ben are you saying that maybe the united states ultimately is not resolving what they want which is to protect

americans data. come on this is not about protecting americans data if you are concerned about protecting americans data you would create laws that restrict how social media companies use data there's no protection being created for how facebook is using data how twitter is using data how google is using data all of them data mining all of us all the time there's no restrictions being created for that this is being tagged to china as if the chinese having data is somehow a harm to us but mark zuckerberg having all of our data is not a harm to us so it doesn't even make sense from an intellectual perspective let alone from a national security perspective well kristie china is obviously not happy with the deal but earlier on monday they called it reasonable right well then chinese state media affiliated media the global time they tweeted this out based on what i know beijing won't approve current agreement between bike dance tick tocks parent company and oracle wal-mart because the agreement would endanger china's national security interests and dignity does that surprise you they're basically saying what

the united states has. the other way around surprised yes surprised not really because right here beijing caught a break because now that does not have extended it has more time to continue negotiations and hammer out the finer points and doesn't have to be rushed so now the ball is actually back in their court and beijing insinuating in full advantage of that so it looks like the battle is now over majority ownership which is officially what songs that deal so there's a lot of confusion over the ownership structure now trump wants the ownership to be american and not chinese saying that quote china must give up majority control or no deal and this was in response to bite dance claiming that the terms would allow it to retain 80 percent in tecton global so obviously both cannot be true so at this point it looks like beijing is trying to get some leverage back and this isn't really important because right now we are seeing a very disturbing trend that every single non us competitor is getting whacked and targeted so it had a hallway the global leader and 5 g. communications tech talk the most valuable social media app in the world and soon

we chat and had the most valuable mobile payment solutions that weigh more volume than us apple pay and pay pal so you can't help but wonder are these witch hunts really in the interest of national security or is it trying to destroy competition so that us can continue to enjoy technological hedge money we have a little bit of time left but i want to get this new quest for the square last question and what does it mean going forward. so i think as people watch the show they need to recognize that whether you are on the trump side and you say hey it's good for america to be able to protect data whether you're on the chinese are you say hey you shouldn't be bullying companies this move by president trump completely resets the limits of government in this country and how it affects small business there is something extremely unique happening here where the president the same we're targeting specific private companies they say it's because they're connected to the chinese government and yet have offered no proof that that is true instead

the drug administration says were able to target specific companies there are laws in this country that actually prevent that from happening but so far courts are not upholding those laws so there is a huge precedent being set for government being able to target individual companies that they don't like and in doing so are actually eliminating competitors for other privately owned companies and that is a huge problem and we know the saga will continue so we'll i'm sure we'll be talking about this rather been discussed chrystia i thank you for breaking this down for us. on monday microsoft announced a $7500000000.00 deal to purchase videogame holding companies animax media well as any macs is the parent company of several game developers including that there's the software x. arcade studios and id software the deal will give microsoft ownership of some of gaming's biggest franchises including role playing games and the fallout and the elder scrolls series as well as 1st person shooter doom microsoft has been buying up studios for years now to bolster its 1st party offerings by going 2014 the

company bought minecraft developer mo yang for $2500000000.00 when analysts believe the acquisition will microsoft had the company's iconic franchises to x.-box game past and even bringing new releases to the subscription service on day one well microsoft's stock is down monday but that's mostly likely attributed to the overall and sell off that we are seeing on wall street but for more on this and the overall market. let's bring in adam ash c.e.o. of trading adam how big is this deal for microsoft this $7500000000.00 acquisition they've been buying up studios for years now. yes a $7500000000.00 deal from microsoft it's kind of like me getting $50.00 worth a row blocks from my kids making a play about it it's microsoft they're giant they've grown so much this year that they even finished up today because the market rallied a little bit so that they were down all day and then we had a rally into the close we found that microsoft finished up on the news. and they

have a launch of one of their new games coming out in the next couple months with out another competitor is a smart move it allows them to continue to grow but really it's a product of what you're going to expect across all industries right now which is that you know the world's a different place some companies thrive some struggle and if you're thriving company you seize an opportunity to scoop up a competitor in this environment where there's a lot of uncertainty you're going to do it and if you're the other company sitting there saying you know what's going to go on with this we're right now or you have another shutdown has are going to factor us and you have the chance to exit you're going to hit that bottom and that's what happened well there's a lot going on i want to turn to here the u.s. markets we're seeing another market selloff coming out of 3 straight weeks of losses now the s. and p. and nasdaq all at their lowest since late july we're seeing the biggest dow drops and june what's causing the sell off. i think the

better question would be what caused us to go up so much for it you know rally we saw from march was unprecedented i don't think anyone could explain that i spent months just kind of watching like i exited the rally in way too early and stood there in disbelief as we continued to go higher so my best rate in the last couple months was buying puts and tassel when it hits. 430 and then dropped to 375 but then after that i was like i'm out again this is a day by day market. i don't think you can make much sense of the down moves because you can't make much sense of what caused the rally other than saying that the fed his propped up the market and if you want to go there and say the fed's front of the market then what could be a little intimidated to traders right now is the fact that the suspense but once again they told you everything that you wanted to hear but this time with the rally and so with the fed's power wears off a little bit that could be

a longer more bearish sign that you want to be aware ok but regardless of the. regardless of where the economy is where it actually is is there more the fed can do they have more tools technically that they can use but do people still have trust and confidence in the federal reserve. i don't think the feds let us down there and i don't think it's about that i think they're more concerned about the world around them and how you're now hearing about possible relapses in other countries shutting down again and it's like you keep walking up the hill and every time you look at the hill you punch in the stomach and you have to start over eventually you get tired of your logic. buy more here this is just too much something we see. it's weird to watch football this weekend every stadium was empty this concert remarked was that life is not normal so for me the will make sense when the market's going down because that's how i feel about the world right now negative you know i want to be optimistic i think everything will be good in the

long run but for me the market makes sense when it's going down in this environment could this be the markets are essentially fundamentally indicators her future predictions we're seeing the current decline a something we can attribute to this resurgence of cover 1000 cases across europe in the u.k. specifically or cova 19 in the fall let's say that we can expect in the united states is that all attributed to this. i don't think so and i don't think the market has responded to specific events like that because if it did then if you look at what happened in the us we should be a lot lower. i think we have a new generation of traders a came into the market the robin hood generation of people that pushed stocks up and there's a lot of hype animals who stuff to start. and so i think the biggest thing i could say is not trying to explain why we're going down because people have gotten so used to buying mine by buying every dip that there are times when my neck tip would

be wrong and even in the few short weeks back in march if you bought those if you could wipe down or entire account so historically the market always goes up but there are some painful drop offs along the way and so my best advice all your viewers who are watching would be to say you don't have to be the 1st one to see the market when we go down a little bit look at how much we've gone our proceed with caution if you have $10000.00 to invest i'll put off $10000.00 on this ip starwood $2500.00 and work you're a courtroom again i'm a trader not a financial advisor that's logic to say just because we're going down doesn't mean we can't keep going lower if i show you where prices were in march versus where they are now lake and even if that $70.00 right now you know is at 3 in march through that's that's the kind of price we're seeing differentiation so i mean or going forward i mean rather at record highs to record low the an f just a volatile market that where we're headed working and continue to head for the next

year so. see i think we went from record lows to record highs but we're not even close to record lows again hoover i think give you 50 different precise and without a good milky way always a 36 it was a 13 in march and the video was at $200.00 it's crazy now the power was at $100.00 you starts are still up so much off their low that 50 point drop for some of these stocks is nothing so that's a thing that's going to be volatility we have so much going on right now we have an election coming up in november we have now a battle over a new supreme court just a meal if you're not everything there's so many factors so you wonder how i would bet on its volatility you know the markets will pray and as traders we like the appetite so i think trying to explain it day by day is a fool's errand it's good to go out there not just saying in general like it's good to go out there and say what could cause us to go down but we're no man's land i

hear our doubt now it's foolish adam matthioli of adam mesh trading thank you so much for being with us today. time now for a quick break but hang here because when i return weather related disasters across the country are incurring a record breaking price tag making financial havoc on americans already strapped for cash you know a pandemic we'll talk about what this means french and alcohol. was abundant make no certainly no borders applied to nationalities. this summer. we don't like. sitting.

judge of. comedy clubs to sleep listening to. we can do better we should be. everyone is contributing your own way but we also know that this crisis will not go on forever the challenges create the response has been so many good people are helping us. it makes us feel very proud that we are in it together. canas calendar is dark alfonzo along. this changing page he's dard. his 1st words were at a lower seer a challenging post you've got 2 years to live. i

have no doubt that what happened was criminal. defense calls in trademark it is a $1000000000.00 industry these companies have a huge financial motivation to solve these problems there are numerous talking showing that doctors were keen to test factory concentrates for infectivity on the patients won't give them doctors the raunch to play golf or term system why they would give me consecutive doses day. and people still die i don't know which question michel i tried being hard to live when so many have. so what we've got to do is identify the threats that we have it's crazy to confront dacian let it be an arms race off and spearing dramatic development only personally

i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. if. you qualify under trevor melton announced he is one. tara lee stepping down as executive chairman while in a company press release milton said unequal is truly in my blood and always will be and the focus should be on the company and its world changing mission not me adding so i made the decision the difficult decision to approach the board and volunteer to step aside as executive chairman founding nicola and growing it into

a company that will change transportation for the better and help protect our world's climate has been an incredible honor and a close stock plunged 30 percent in premarket trading set to open at a 4 month low now this comes just weeks after short seller and bird research accused the company of being an ocean of lies essentially a fraud well the electric truck maker also recently made a deal with general motors where g.m. took 11 percent stake in the company the 2 companies plan to build an equal a badger pickup truck a g.m. c.e.o. mary barra signaled the company is standing by its deal. 2020 keeps on throwing those punches so far this year the u.s. had $10000000000.00 worth of weather related disasters setting a new record as artie's alex mahela which tells us this has not only hurt the nation physically but also financially. from hurricanes in the gulf. to wildfires on the west coast. when it comes to the us 2020 has been

unforgivingly beyond the coronavirus in terms of wildfires which of primarily hit california and oregon more than 30 people have been killed thousands of structures have been destroyed and over 5000000 acres scorched many are blaming climate change we're in the midst of a climate of urgency where in the midst of a climate crisis we are experiencing weather conditions the likes of which we've never experienced in our lifetime we're experiencing what so many people predicted decades and decades ago but all of that now is reality breaking previous records this year the united states hit its $10000000000.00 weather disaster earlier than any other year. aside from the devastating fires this year multiple storms have ripped through the u.s. leading up to half of destruction in their wake 7 of the occurrences happened in the south and southeast 3 of which include attorney tools and outbreak on easter

sunday saw 190 tornadoes in the region killing 36 people the storms made 2020 but 6 consecutive year with at least 10 extreme weather events and it's not over yet it's 2020 what can you do the answer not much for the average individual other than preparing both physically. on your person. and financially being ready can help one way to do that is anticipating an insurance claim in advance people are being told to do the following to ease the process take photos of your house inside and outside and your belongings both before and after a storm or other disaster and create a written record of your valuables having proof can help avoid issues or even denials during the claim process with an insurance company is also going to review your insurance coverage so you know what the insurer expects if you need to file a claim and it also helps you avoid any surprises climbing up the ladder from

households to the nation as a whole the weather is also doing a number on the u.s. economy hurricane such as katrina and harvey cost well over $100000000000.00 mark while maria sandy and irma were in the 10s of billions numbers we are likely to see again this year some estimate that just the wildfires in $2800.00 cost the u.s. over $20000000000.00 looking forward to do not look promising a report commissioned by federal regulators earlier this month concluded that climate change posed a growing threat to the u.s. financial markets as a natural disaster spread sort of the cost to the surance industry mortgage markets pension funds and financial institutions add that to the fact that the national's yannick and atmospheric administration says that we can expect. more disasters this year it's easy to see 2020 isn't done with dishing it out just yet for being bussed. from our we welcome director of corporate communications with the insurance

information institute mark friedlander mark thank you for joining us today we just heard what alex reported what kind of increases are we really looking at here. well we knew coming into this hurricane season series it was going to be an old well above average season every meteorologist talk about that every forecaster and we're seeing it come to reality already exhausted the entire list of hurricane names from the national hurricane center now into the greek alphabet which is only happened once before in history in 2005 or on beta already so we clearly are seeing a record setting year in terms of number of storms fortunately we have not seen storms at the level you showed in your chart a few minutes ago of those nasty lawsuits if you haven't come to that level yet which is a good thing for you well let's look at the stimulus here what are some of the most significant ways 1000 has also affected your members i mean markets have been

affected severely but with many banks choosing to put mortgages on moratorium the house marking is market is actually relatively steady are your members choosing to forego their rates or payments at this time. well insurers took a lot of important steps to help consumers help their customers cope with the financial difficulties of covert $1000.00 in the pandemic one of the biggest things once auto insurers gave back $14000000000.00 in premium to auto customers that was bones in cash refunds as well as credits to accounts very substantial and then one of the largest insurers in the u.s. auto insurers is in the process of getting reproductions approved by regulators state across the country once again to help their customers cope with the financial difficulties of the pandemic while the core of our thoughts obviously changing the

economic landscape right what what are we going to see in the future are our houses now going to be no longer be protected. well 1st of all if you have own market you have to have homeowner's coverage and if you live in a hurricane prone state which are all the coastal states the atlantic coast and gulf coast states you have to have winter storm coverage if you have a mortgage and we see roughly 91 percent of all homeowners across the u.s. have insurance coverage the 9 percent that don't they have paid off their mortgage most likely and it's very risky though even if you put off your mortgage do you want to be unprotected financially really strongly suggests every homeowner whether it's required or not to have homeowners coverage so you are financially protected because the loss could just be devastating you could have your entire house and if you don't am your shirts to help rebuild that it's going to be

a lifetime in many are saying markey must albus the flood insurance rate map where i home to actually going to be rated depending on their flood or if i want to see changes in the fit all. yes females actually go through a whole process doubt agree rating but one of the things that we stress is don't just rely on what the sea maps say we recommend every homeowner across the country gets flood insurance and here's why 90 percent of natural disasters in the us involve flooding we saw with the hurricane last week hurricane sally while there was significant flooding right along the coast in both florida and alabama you go inland and there were significant flash flooding inland counties as well and according to our data the take up rate of flood insurance in those in the counties only about one percent right maybe 99 percent of the they're not problematic are not practical specially with all this mark friedlander thank you so much for being

with us today with a pleasure having you. that's it for this time but here the numbers at the close of . the world is driven by dreamers shaped by the person of those great. dares thinks. we dare to ask.

am. i going to make me. happy i am. british prime minister announces tough new coronavirus restrictions with large fines for rule breakers after a surge in case numbers. russia gets ready to start a nationwide clinical trials of another 1000 vaccine. the us begins its 1st ever remote general assembly world leaders are giving video speeches with the pandemic and global conflicts of the forefront. of psychiatry is to examine to julian assange says the wiki leaks founder has severe mental health problems and extradition to the united states would put him at higher risk of suicide.