you were talking about offering for example apple pay as a service.e pay is not a good business for santander, but it is a good business for our customers, so i think eventually it will be a great business for us. our customers love it, and we did it because a significant proportion of our santander u.k. customers had an iphone, so we, you know, thought we have to offer them apple pay as soon as we can. what is interesting is that we now developed a great app around apple pay, which is making customers more loyal to santander because you can see where you spend money. it is a great tool and it is very popular. i think we need to continue to innovate and i think that is the key thing. having said this, i think the important thing -- and i said this recently in frankfurt at the meeting -- we need a fair play market for all. and so the rules have to be the same for banks and new entrants. i think this is incredibly important. so sharing information -- if i share my customer information, new entrants share customer information, because otherwise it is ver

but as apple could be an example of government over-reach. apple is going up against the federal government, in a case that could have huge legal implications. apple c-e-o tim cook says he will fight a court order requiring his company to help the f-b-i recover data from an i-phone used by one of the san bernardino terrorists. cooper says "..we can't even access that phone right now. and, it really makes no sense whatsoever." the ruling requires apple to help the f- b-i disable the security feature which erases data from the iphone after too many attempts to unlock it... with the feature disabled, the feds can try as many times as they need to unlock the phone. but cook says he's fighting the order over privacy concerns... arguing it has implications far beyond the legal case at hand. terrell says "..volunteer if apple wants to? yes. having the government, having big brother tell you you must help us? that's why we have a constitution." cell phone locks problematic for criminal investigators over the past few years... and some law enforcement

but what are the opportunities for companies, for example, like apple with $200 billion in cash?ow could they possibly spend a meaningful amount on r&d and not waste? we have cap-x bubbles, too. think about 1997 to thousand and fiber that no one needed. i don't know if there's a right answer or wrong answer or if we could say they're good or bad. i think we can all agree probably excessive. especially when you look at the energy sector. >> all right. coming up, visa goes mobile. pandora under pressure. the stories and the trades ahead. portfolio check-up, health care stocks, second worst sector so that are this year. bio tech in a bear market. is it time to finally jump in? we'll debate it. >>> coming up at the top of the hour, oil is soaring right now. we'll discuss whether or not you should believe the rally. stocks are up sharply, too. is that panic selling finally coming to an end? tell come and utilities, this ire still the konl two s&p sectors higher this year. but there's one other sector to feel bullish about, the only sector up this week. we'll tell you what it is. "powe

. >> the nypd deputy commissioner of counter terrorism is one example of how apple's refusal to create a code to stop from auto erasing after ten failed pass word attempts is keeping from solving crimes and maybe even preventing them. >> the government is asking for the same front door that we use for everything else, banking records, other records which is you come after proving probable cause in a court of law with a lawful order from a judge and they are supposed to provide those records. >> the issue came to a head after tim cooke refused a court order to help the f.b.i. unlock the iphone by the san bernardino gunman. >> if you put a back door in that back door is for good guys and bad guys. >> we have no tolerance or sympathy for terrorists. at stake is the data security abiding people. but commissioner bill bratton says up until an operating system update in late 2014 apple held a master code for exactly this purpose and there was no documented instance of it being hacked or used. >> if they are trying to protect their customers how many of them were dead in the terrorist attack.

because these stocks are so widely held -- apple for example -- because they are down for the year --t has really weighed on the major averages. we see the so-called fang stocks , alphabet facebook declining. and another group that is down the most, banking stocks, but they are coming back. the s&p banking index is having its best deed of days all the way back to 2009, interestingly enough. -- it's best two days all the way back to 2009, interestingly enough. it seems like a recovery action rather than based on any fundamental change in outlook. and finally home depot and headed higher. it looks like this is benefiting them. julie, thank you so much. continue to keep an eye on the markets for us to read we will check back with you later on. and rushing off the weakness and oil prices today -- is so far the concern over crude and has dominated equity sentiment. strategiesestors' changing? with us, the wells fargo head of global markets has released his latest notes. it's a change in the year-end targets. tell us what your new target is. -- guest: we continue to see an of trend in the e

apple is betting its global customer base is not a company that hands over its example private information. the u.s. judge ordered apple to wipe out all of itsdatea if the wrong pass code is entered ten times. the tech giants doesn't have the technology and developing it would create a back door to millions of devices. the white house defended the request for apple to aid in las vegas the presidentinvestigation . >> they are not asking to resign a product or create a new back door, just something to have an impact on this one device. right to privacy collide, apple and the fbi both have compelling yet competing interests. >> apple is saying if you promise you will only use it once it will be used again and again and when you give precedent once you can't deny next time. >> posted a series of tweets cyte siting with apple with this to say -- >> in the two months since they killed 14 people in san bernard bernardino, california,the f b i has discovered evidence leading up to the terror attack. >> publically apple says it doesn't have the technology to theoretically they could right the softw

. >> the fbi is locked out of his apple is betting its global customer base wants unbreakable inscription not a company that hands over its example private information. the u.s. judge ordered apple to wipe out all of datea if the wrong pass code is entered ten times. apple ceo said the tech giants doesn't have the technology and developing it would create a back door to not only that iphone but millions of devices. the white house defended the request for apple to aid in las in an investigation that the president called a national priority. >> they are not asking to resign a product or create a new back door to one of their products, they're simply asking for something that would have an impact on this one device. right to privacy collide, apple and the fbi both have compelling yet competing interests. >> apple is saying if you promise you will only use it once it will be used again and again and when you give precedent once you can't deny next time. >> google ceo posted a series of tweets siting with apple saying this -- >> in the two months since they killed 14 people in san bernardino, california,the f b i has discovered evide

apple is betting its global customer base is not a company that hands over its example private information. the u.s. judge ordered apple to wipe out all of itsdatea if the wrong pass code is entered ten times. the tech giants doesn't have the technology and developing it would create a back door to millions of devices. the white house defended the request for apple to aid in las >> they are not asking to resign a product or create a new back door, just something to have an impact on this one device. >> as the war on terror and right to privacy collide, apple and the fbi both have compelling yet competing interests. >> apple is saying if you promise you will only use it once it will be used again and again and when you give precedent once you can't deny next time. >> posted a series of tweets cyte siting with apple with this to say -- >> in the two months since they killed 14 people in san bernard has discovered evidence leading up to the terror attack. >> publically apple says it doesn't have the technology to do what 9the fbi wants but theoretically they could right the software to kpla k

but apple says this ruling is an example of governmenovereach. the company says iit's forced to develop the new softwe---it uld put everyo's i- phones at risk. new 5. lst 18 people are deaand dozens are injured after an explosion in turkey's capital. the governor of "ankara" says e apparent attack targeted vehicles that were carrying miry personnel. police bieve aomb caed e exosio xxx lookg for you night. present obama and the rst wilvisit the supreme court iday--pay reects to justice antonin scalia. rit now---black wool is draped over the late justice's urtroochair. and on friday---his body will "lie in reposein t supreme cours great hall lowered to half stf for 30 days. scalia's fun is set for saturday. new night. c-dot noys it will take "weeks" get a sch of 70, through glenwood canyon to "normal"... after that massive rockslide. the slide monday left roc the si of small cars on in the cany a 24 mile stretch remains clos. crs are ying to geit partially reopened sometime tomorrow, but theris extensive damage to gudrails, barrie and e itself. one

for example people pick an apple over candy bar if they saw a heart symbol but if they saw healthy, alllled out they were more likely to choose the bad food, right. the the word seem to turn people off when it was on foods that was obviously nutritious. >> it is like don't tell me what to to. >> correct. >> you are right. >> yeah. >> good point. >> yeah. >> symbol like yes, you feel like you are part of the decision. >> yes. >> okay, so from healthy, apples, candy bars, to now cookies, it is girl scouts season, right. now there is a new way to order your favorite thin mints. >> girl scouts have sold their beloved cookies for nearly 100 years. you know how this works. the the the parents say to the kid we got to make our quota a so give me all your cookies i will put them in the trunk and sell them to all my co-workers. >> or they set up tables and they are outside supermarkets and they collect the money the right way. >> that way too. >> and they knock on the door in the neighborhood. >> now cookie sales are digital. they call it. >> cocoa director cocoa. >> are you cocoa for cocoa puff

apple. for example, coming from william bratton, the police commissioner of new york city, which was attacked on september 11th of 2001. he wrote, quote, no device, no car and no apartment should be beyond the reach of a court ordered search warrant. as the threats from isil become more divergent and complex, we cannot give those seeking to harm us additional tools to keep their activity secret, unquote. reporting live here outside apple headquarters in cupertino, bob redell, nbc bay area news. >> scott, you've been covering this issue for years and you were saying even before steve jobs died, this was the way that this was going to play out. >> it really was, and it was tim cook who took over after steve jobs who really telegraphed it. i think we have video of him, yes, at stanford. this would be last february. the president of the united states created a cyber team, cyber security and consumer protection summit at stanford, and tim cook spoke right in front of the president and said we are not going to allow back doors in our products. we are going to keep encryption and any time the govern

guest: he did get apple to unlock the iphone. there is an examplef the world's most viable company taking on the federal government . so few companies are willing to do that. ideological. they want to please shareholders, employees, boards of directors, get the work done. the last thing they want to do is go into a fight with anybody. carol: does history tell us anything? guest: i think it can. organization,er the committee for economic development forward because people were worried as soon as the stimulus of war spending ended the u.s. would lapse into another great depression. it didn't happen but at the time we didn't know that. this committee was made up of ceos and their objective was to make sure the economy would be strong for the good of all. they were instrumental in forming the world bank and the marshall plan which saved europe, enlightened self interest groups. their heads down in the books focusing on the quarterly earnings and so on. i'm not sure it is the right strategy because if you don't have a good positive message. if you can't

opposing the fbi's efforts to get apple to unlock the iphone. there is an examplef the world's most out of the company taking on the federal government. so few companies are willing to do that. they are nonideological. they want to just please their shareholders, and employees and board of directors. their work done. the last thing they want to do is go into a big fight with anybody. carol: does history tell us anything? can we learn anything? peter: i think you can. there was no organization formed in 1942 that was formed specifically because pitbull road at the time that is soon as the stimulus of war spending ended, the u.s. would lapse back into another great depression. that was a serious concern. it didn't happen, but at the time we did not know that. ofs committee was made up prominent ceos and their objective was to make sure that the economy would be strong for the good of all. they were and she mental incredibly international monetary fund, and the marshall plan and saved europe. a very enlightened, self-interest, big picture group. you don't see that muc

john says apple should never have the device he says we should be thinking apple for setting a good example but also thinking the government for the bad things that are out there. >> if it was someone else's children you believe they should go get a warrant like anything they suspects it could cause the death of other people which is reasonableeea they would have to be that for a judge to get those records. >> where do you fall on the phone front us phone - - to use side with apple more or the fbi on this case? we will take yourak comments and that is what we are going to doen this morning. your termite now is 7:42 a.m. a2 groundbreaking show a that has the story of the underground railroad they have a special screening of the show on monday the show also uses contemporary music that has interested producer john legend. the story should be told we don't know a whole a lot about thesen are not going to take it any more. >> underground premieres on wednesday, march make still ahead inside a new study that shows the problem goes beyond the oscars. good morning the great clips is pretty normal

adam: he says the economic impact for apple could be very he points to the example of cisco. when it was revealed its products have been backdoors by the nsa, customers took their business elsewhere, resulting in adam sexton, wmur news 9. ,: police are looking for this woman, 25-year-old stacy brasley of manchester. anyone with information should contact bedford police. american high singer don mclean now facing more charges in maine after a domestic violence arrest last month. charges were added including terrorizing, criminal threatening, criminal restraint and criminal mischief. mclean' s attorney says he is pleading not guilty to all charges. a judge will hear his plea on monday. shelley: devastation at a school that has been serving manchester for the last 32 years. sub zero temperatures caused pipes to burst and flood the manchester community music school. now teachers say, they really need the public' s help, to get back on track. at the manchester community the section of the building blocked all. school administrators leaving nothing to chance after devastating flood

apple is betting its global customer base wants unbreakable inscription not a company that hands over its example private information. the u.s. judge ordered apple to wipe out all of datea if the wrong pass code is entered ten apple ceo said technology and developing it not only that iphone but millions of devices. the white house defended the request for apple to aid in las in an investigation that the president called a national priority. >> they are not asking to resign a product or create a new back door to one of their products, they're simply asking for something that would have an impact on this one device. >> as the war on terror and privacy collide, they say both have compel right to privacy collide, apple and the fbi both have compelling yet competing interests. >> apple is saying if you promise you will only use it once it will be used again and again and when you give precedent once you can't deny next time. >> google ceo posted a series of tweets siting with apple saying >> in the two months since they killed 14 people in san bernardino, california,the f b i has discovered evidence l

because i'll doping apple has made the specific case giving us examples. charlie: are you questioning the motives of the ceo? not calling anyone's motors into question. i'm making the factual point that in september, apple was able to respond to court-ordered search warrants and was never a complaint that ios 7 was an operating system that was in secure or that my data was at risk of being stolen. i don't know what changed twins october 30 and october 1 when introduced i await. they made ahat decision consciously to engineer out of their phones the ability to open them and i think that apple is a great company, a phenomenal company, but no company is above the law and we have relied upon fourth amendment pencils where reasonable searches were permitted if judges concluded that there was probable cause. charlie: i assumed the reason they did that is they did not want the responsibility of wanting a backdoor and they said the best way for us to protect the data within a phone that we is not even to get us to encrypt it so well that we do not have access to it

south america and i think it's a result of these trade agreements that both -- no better example than these apple things. nothing made in america. they're now the largest company net worth on the stock exchange. what's your plan to rectify the trade agreements that have allowed working communities -- >> you know, this is one area where i actually agreed with trump and i don't know if you saw in the debate. he wanted to put some 35% tariff. i don't know what he's talking about, but i believe that -- i didn't understand what he was talking about -- neither did you. i understand, but here ate thing. look, one out of every five jobs in america are connected to trade so we don't want to shut trade down, but here's what bothers me. we sit back and let people cheat on their agreements so u.s. steel invested, i don't know, 500 million, maybe close to a billion in a plant in ohio and then south korea started dumping the products that they were going to make in the american plant in our country and they couldn't get anybody. dumping means they sold it below what it cost to make and it was a violation, a te

example. the cabbages, the spinaches. fruits like apples and grapefruits like apples and grapefruit because they have fiber and the body works hard to get to the actual calories. to do that you don't them on your hips as fat. put geno wolf -- againa wolf and 5 and 500 calories. she didn't absorb all 500 calories, only 2500. that is why thin people stay thin. they eat a lot of calories but they don't actually absorb all those calories because they can't. it is i inefficient. >> constancece don't miss the "dr. oz"how every weekday here on station. >>> south florida, get ready. tickets. >> kristi: local 10 is giving away tickets to the south beach wine and food festivals that tastytastiest dishes from all over the globe. head to local10.com, you our facebook page. >>> and another contest for doughnuts that were deadly. >> after he died after compete>> after he died after competing in a krispy kreme doughnut eating contest and then a race as well. that story after the break. >>> the president of haiti steps down, but not before giving an exclus

for example, alps electric supplies parts for apple iphones and cut its revenue forecast 20% for the year ending march but increased dividends by 25%. car parts maker also downgraded its earnings forecast, but its payouts will increase by 9%. automaker suzuki will keep its target payout ratio at 15% of its net profit, even though its profit is expected to fall. now, what spurred this trend is the japanese government calling on companies to use their earnings in an effective way to help boost the economy. with the bank of japan adopting negative interest rates, firms are even more inclined to use their profit for dividend payouts. according to a tokyo stock exchange, around 20% ofs stocks are held by individuals who will likely receive a good chunk of the $90 billion payout, which could in turn draw more money into the stock market. and that's all from the nikkei. back to you. >> thank you very much. have a lovely weekend. we'll chat soon again. ahead here on "street signs," what was that all about? apple co-founder steve wozniak weighs in on the encryption debate in a cnbc interview.

we haven't really seen a clear example of what the worst case scenario could be and apple's tim cook is saying they're a u.s. based company but they operate globally and if the u.s. government can demand this can china's government? can russia's government? can other governments do the same thing? >> i thought where you were going with it is if this is put into apple devices it's going to be unbelievably detrimental to their international sales. no other country is going to want to buy this equipment if the fbi and nsa accessed these devices. nicholas weaver put out on twitter that by virtue of the fbi having this access the nsa has access as well. i'm surprised the stock isn't down more today on the threat of this happening. >> because of the prospect of -- even if cook stays firm courts rule not in his favor and then international sales plummet. >> i don't know if plummet is the case but look what happened with cisco. after it was found out that the u.s. government was intercepting the equipment and installing the spying software the fbi can hack into any iphone and china and any o

order to use it on other phones, and then it becomes very dangerous, because apple's sign-in key now becomes the target, for example, for nation states to go after, because that would unlock other people's phones. and given the way we use our phones, that's exceedingly dangerous, including for national security. >> ron will take the other side of this. why do you think tim cook is wrong? >> well, i think this order that was issued in california is very narrow. we are talking about a phone that the fbi is in lawful possession of after this horrific terrorist incident, that the county has consented to a search of because it was the county's phone possessed by a terrorist. and what the order requires and expects is that apple take reasonable steps to develop the tools to get in there. that doesn't necessarily equate with the fbi driving away with the tools. what the fbi wants is the data from the phone, which is potentially evidence of a crime, evidence of a broader conspiracy. >> so, ron, could all of this be done in apple's offices? they just unlock that phone, get the data that the fbi needs, provide the fbi with t

because i don't believe apple made the specific case giving us examples -- >> rose: are you questioning the motives of the c.e.o. tim cook? >> i'm not calling anyone's motives into question. i'm making a point in september 2014 under ios7, apple was able to respond to search warrants and never a complaint that 7 was insecure or my data on my phone was at risk of being stolen. i don't know what changed between september 30 and october 1 when they introduced io8. >> rose: what do you think changed? they probably had a better operating system. >> i think they made a decision obviously consciously to engineer out of the phones their ability to open them, and i think apple is a great company, phenomenal company, as is google, but no company is above the law, and we have relied upon our fourth amendment principles where reasonable searches were permitted if judges concluded based upon a presentation of the evidence that there is probable cause, there is evidence of a crime. >> rose: i assume the reason they did that is they didn't want that responsibility of having a door in the back end, and

continues -- after apple refused to comply with a court order to unlock the i-phone belonging to one of the san bernardino killers. vance: "it is now, i believe, the most visible example of how silicon valley's decisions are thwarting criminal investigations and impeding public safety." the f-b-i is locked out of syed farook's i-phone 5c.. but apple is betting its global customer base wants unbreakable encryption ... not a company that hands over their customers' private information. a judge ordered apple to disable the i-phone's auto erase feature, which wipes out all of its data, if the wrong passcode is entered 10 times. apple c-e-o tim cook says they that developing it would create a "backdoor" to not only that i- phone...but millions of devices. today cook said apple will not comply with the federal court order.. and that the company will take the legal fight all the way to the supreme court if needed. looking around the world now.. not since 1928 when calvin coolidge visited havana has a sitting president visited cuba. now nearly nine decades later, president obama will pay a historic visit to the island nation within weeks. the two republican, cuban americans r

microsoft, for example, in its heyday, had a very stable management team. the same has been true at appleemily: you are so well known for your time chronicling the early days of apple. you spent time with jobs. you were in favor with him, you were out of favor with him. i wonder what you learned by watching steve so closely about what makes a good leader and what makes a bad leader? sir michael: for steve, the product was never good enough, whether it was a computer or a phone or a tablet. he was always thinking about the next thing. i think that is the distinctive hallmark of a truly great leader. is that great is never great enough. emily: there were a lot of qualities about steve that, you know, are so controversial. is the jobs model a good one? sir michael: i am a huge admirer. was a huge admirer, am a huge admirer of steve. and it is very easy for people to sit and snipe. i am no psychiatrist or shrink, but i don't think any of us really understand the emotional consequences of being put up for adoption, and how that affects your life afterwards. and what people also do not see abou

stuart: i am not sure apple for example -- cameras on these iphones are fantastic.hy do you want a go pro? liz: it was a beast, another device. stuart: at the moment people are not buying it as the buyout opportunity because it went -- liz: i hate to say the share price collapsed. stuart: we almost put it on deathwatch. when we put stuff on deathwatch it goes up. one more. conoco phillips losing money, cutting the dividend, that is not good news. when they cut the dividend not good news. el which is maintaining its dividend is paid a% at the moment. liz: chevron and exxon with their worst picture in ten years. the world of her continues. stuart: with oil at $30 a barrel i am not surprised. big board shows it up more than a hundred, more varney after this. in new york state, we believe tomorrow starts today. all across the state the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in the hudson valley, with world class biotech. and on long island, where great universities

example. it's one of those issues that people working at microsoft and apple will see is fundamental.greenery was to a previous generation. >> everybody wants to feel like their information is kept private, particularly because more of your activities are in that digital log. people are empowered by technology in terrorist activities, it is not just that they can kill a few people. they can kill a lot. we want government out there trying to stop those things from happening. it is not completely in one direction. the 19th-century century liberals refused to open people's letters. they were frightened that would be somehow illiberal. is this the definition of what liberal is? always beens there to try to maintain order. you have some awareness of what's going on. the u.k. strikes a different balance than the u.s. because there were some degree of terrorist activity, the idea of having cameras in london, people are comfortable with that. i don't think that is likely to happen in the u.s. the u.s. will always be wanted to make sure the government does not overreach more than most places.

apple? apply theay you theory, you are not looking at any individual stock. you are betting on the actual manager. for examplent to say, decide.g to let warren i'm going to let him go anywhere. his top 10, whatever they are, i'm going to invest. some managers will own apple. some won't. that is the beauty of this strategy, you are outsourcing your picks rather than asking your broker. you are getting some of the best fund managers on the planet. the data shows it works great. emily: you've made the point sometimes you can outperform the hedge fund itself. tell me about that. meb: you've got to remember hedge funds, the problem is the fees. it charges 2% management fee. 20% of performance. that is a major hurdle. the beauty of cloning, where you are buying the stocks they hold, you avoid the fees and the tax implications that are inefficient. it allows you to avoid lockups, gates, and fraud as well. there is a lot of benefits. a few drawbacks. a lot of the benefits of doing it on your own emily:. interesting. aber, thanks so much. francisco's public transport system is not the best in the world. elliott gotkin