>> the scope of our law is broad to such a degree, even though facebook and the internet and google weren'tcontemplated as you can imagine decades ago when the law was created it was written in such a broad way it would encompass new technologies like facebook and google, new platforms to reach voters. that's a good thing but the law is broad enough to encompass that. >> unless you can see every ad specifically targeted to people within washington state, that say isn't for a product, how can you know that you're getting all of the ads that are meant to influee politics or policy >> well, any law requires, right, the target in this case, individual entity complying with it, must make that information public ave the y my offi to subpoena documents,o get information. we have that ability and that authority. we're not talking about that right now. we're in the early stages. we're talking with facebook and google we want to work this out there's no resn things case unless i'm satisfied we're getting to a solution and the information provided and all that information is being provided to the publ

we are hearing reaction from facebook, google already. t they will work with policymakers to promote responsible innovation. google also coming out with a statement saying they are unhappy with this because it will affect small businesses across every industry. big changes affecting all of us. heather: we have to know how to do this. the final goodbye from toys "r quote us. >> because we have. they announced bankruptcy last september. and shutting its doors, having these liquidation sales, no more toys "r quote us, said to know, not knowing what it is like running down the aisles of toys "r quote us. they will be opening up toy stores in the holiday. >> that is what you said. and 15 minutes almost. diamond and so, we love them and they know about social media. new pulses the majority of america do too. how can you fight it? speaking of knowing what to do and how to work it, kurt the cyber guys that a fake news was a crime facebook would have the longest criminal rap sheet out there. he joins us with tips on how to fight it. ♪ heather: face

facebook and google. ropean regulators, and microsoft found this out about 15 years ago european regulators have always been tougher and dropped the hammer more than the u.s. counterports facebook and google under juteny do you think the regulatory environment and the scrutiny we're seeing more here will seep into the united states and ultimately maybe hurt facebook and google >> without question. the u.s. will have no option many companies have broken the law and been ignored now the europeans are coming down hard on gdpr. >> are they breaking the law in europe >> many people are saying the eu is ahead on data privacy, that gdpr once ridiculed is exactly the way to go. >> i think as a user, i've been bombarded with a lot of these e-mails about opting out, on facebook, the privacy concerns i don't know the impact yet. i opted out of a lot of these services it would be interesting to see if many consumers will follow suit and whether the eu says you can't take this cherry picking approach >> i like your poi

lative valuations on facebook and google are at 12 times, a discount to the internet pee group.re's still room between 10% to 20% outside in many of these names, even considering the run so, overall, i think there's a combination of factors that are at work between tech inflows, which was a record last month, $7 billion of inflows, $26 billion flows in most of that wasn there are multiple factors that are at work right now. then you look at m & a you look at microsoft with the github acquisition of $7 billion. these multiples are multiples we haven't seen for many years. so -- >> right. >> there's multiple aspects to this rally we think, again, for the bigger platforms, to your point, the big are going to get stronger, google, facebook, amazon and we think that ultimately the long-term road map looks fantastic there for those stories. for mid and small cap it's more mixed. >> right mike, it hasn't been smooth all the way up for these companies facebook, obviously, had cambridge analytica shock. microsoft has been allowed to buy github, that doesn't make a ton of money, seen as a

i guess if you need some forging done her trunk also has five star ratings on facebook google and yahoo. which were of use did you hide glenn i but this one this guy's lies sent me to prison and tore me away from my children one star oh god it feels good to finally get my vengeance and it's not only in new york prosecutorial misconduct happens around the country and california prosecutors for years utilize a secret jail informant program to generate questionable evidence and what was called b. orange county snitch scandal and as you know. checks and preferential treatment from law enforcement in march the scandal took a violent turn when a local defense attorney who recently succeeded in overturning a client's conviction based on misconduct was in the courthouse by an orange county d.a. investigator well no maybe just has a black eye and needs a nice back but you know what this is actually a great picture for a lawyer you know have you been hurt or injured on the job well so have i police and prosecutor misconduct not faulting witnesses or false confessions is the primary cause of wrong

they may be nation the compared tore facebook or google or amazon, but are they potential competitors providing a product that may have less cost ultimately to consumers and more benefits to them? not measured in price, but in other ways. now, the terms of antitrust litigation can be measured in other ways. the number of lawsuits that were -- that have been brought between 1970 and 1999, the united states brought about 15 monopoly cases each year. between 2000 and 2014, that number fell to just about three a year. and that is one reason why antitrust enforcement has been increasingly the province of state attorneys general. antitrust is one of the areas where state attorneys general have concurrent jurisdiction as a matter of federal and state law, and i would predict that a failure on the part of the federal government to enforce vigorously our antitrust laws will probably result in attorneys general taking a more aggressive and leading role in this area. i'm pleased that -- that the department of justice has taken action until a number of antitrust issues recently and is in court ri

the king are facebook and google.uests has written a book about the digital advertising world. welcome to bloomberg technology. the ad business has been completely transformed by google and facebook and beyond. >> they are both. if you look at the growth of facebook and google that is coming from at agencies and clients and now exceeds the number spent on television ads, in that way they are for enemies -- emily: we don't understand the extent of how much advertisers know about us. what did you find that was the most disturbing? >> when they talk about the future they know the public doesn't like ads on their cell phone. they don't want to be interrupted. they said let's offer a service to people. ken when you are walking through san francisco we know that on your gps. and if you bought a sports jacket two months ago, if you go into barney's we will give you 20% off of your new purchase. emily: i wonder if this privacy backlash is just a moment or if it will actually result in long-term us wanting to hold back informa

i don't think it's going to be hurt by something happening to google or facebook. i would just be very careful about moving away from the current standard to create these novel standards, because for all -- for all of these other reasons, and there's -- you know, there's a huge sort of political atmosphere. these are operate iing in. the fact that they haven't brought this case in the last 20 years. i mean, what is our model? is the model -- and i oftentimes -- and i'm certainly newer to the subject. and again, people have deep experience -- but if the model is europe, i'm not sure i want us to have the same technological capabilities and supremacy as europe. to me, if i want a vibrant technology sector with companies that are doing, you know, really bleeding edge research, i'm not sure that's example we want to turn to. so the mere fact that europe is doing it, fantastic. why that is a model for what we want to do? i don't know. >> next comment, jonathan. >> so just a quick comment and question. so, we'll start the question. when you say consumer welfare stand, wh

, ideal government were i live, facebook, twitter, google, i dealwith government were i live,ly these days, which at least make the consumers of content on their platform is aware of who produced it. right now, that's not very easy to do. that and a minimum we should do. and number three, we shouldn't enforce our own laws for broadcast. and for political campaigns. you talk of the need to address soft power but then there is economic power that the fact is, when we are talking about responses to russia, the united states and europe sometimes the very divided, not least because russia provides enormous supplies of energy to many countries inside europe and the european union. right now, vladimir putin is in austria. they consume a lot of russian energy. isn't that a huge bit of leverage that putin will continue to exercise? yes, absolutely. and you're right. he doesn't think of energy exports thing about markets, it thinks about it being about russian power and in my view, tragically, we do not have a common strategy for dealing with that right now. we, the transatlantic commun

the senate intelligence committee wants the ceos of facebook, google and twitter to answer questionshe security of the platform, including relationships in china. senator john thune spoke earlier ion bloomberg. sen. thune: it seems like the only time they are disclosing information if there is a story that breaks that forces them and that is wrong. we did follow up after the hearing with a series of record which the are written questions. they have not responded yet. haidi: bloomberg technology reporter sarah frier has been following this. record which are written questions. not a great week when it comes to headlines on facebook, but what are the senators concerned about? sarah: facebook said earlier this week that these deals with chinese manufacturers are commonplace in the industry and now they have proved that google and twitter also have relationships. this is just bringing another example of how the ways that things worked in the past, we may be were not that aware. even if these are public arrangements, even if we were not aware how they affected user data. now we are much mo

what is the best path forward, particularly with regard to big social media platforms like facebook and googleho have partnerships with device manufacturers in places like china, like huawei, that could be detriment of. if there's user information being exposed. facebook didn't disclose.that letter to them right now asking them for additional information. how do they ensure these partners they have actually are protecting user information? to your point, i think we are getting to that time in our nation's history with the dramatic increase in user information that is available out there that we may need some protections an safeguards. david: i wonder whether the oversight function you've been pursuing will be adequate. it'su just pointed out, not like facebook is coming forward and volunteering this information to authorities. this is something the press has to find. every time we turn around, we have some new revelation. sen. thune: that's a real problem. it seems like the only way they are disclosing information is when there's reporting or some story breaks that forces it to be disclosed. t

facebook and google trade 30 times because basic the apple has two thirds of the revenue from iphones have to convince you as an iphone user every two years again to buy an iphone. they revenue -- generate revenue from customers every single day. makeis a model where they money every day from their users. >> this is a juggernaut in china . it gives access to the chinese population in terms of spending. talk to us about where we are seeing growth go because the numbers are phenomenal in terms of the rate we see apples smartphone shipments grow for example. is doing phenomenal growth in china until a couple of years ago and -- then we started to see less of a focus on brand and more on value. the chinese phone makers, all of those guys have hardware that is not vastly inferior to apple but significantly cheaper. a far more extensive network of stores in china. apple is trying to remedy that up.they have got a heads >> a reminder about what they are doing coming to the market, 10 million overall is the market? >> yes. i believe they have reported it is $10 billion, a small slice of the 9

suitors, and that is a good thing, and you just can't stlit and let them do whatever they want facebook and googl and some of them have been in this and some have not >> if you're just joining us expecting to see fast money right now, we're still digesting huge news that just broke, the judge ruling in the case of the department of justice going to politic at&t, no go now it will reshape the media halandscape and s the table. people are still going through the implications for markets but also for the president who came out against this deal, and the department of justice as well. >> that's right, it became public about 4:00 p.m. eastern no conditions will be placed on thiserger. so these two corporate tie ttans are free to do what they want. we we expect to see a wave of mergers and akquisitions the president campaigned against this saying it was too much power to have them america up, so massive news here at the federal courthouse >> on behalf of everyone at at&t and time warner we are gratified with the courses decision to categorically reject the government's bid to block this e case stands a

i was looking at the donations tojoe crowley today, facebook, google, they donated thousands.,000 is small beerin thousands. have $600,000 is small beer in american politics. but only did she beat him, she beat the most powerful companies in america, quite extraordinary. words that have never been uttered in a group stage match, germany are out of the world cup, losing 2—0 to south korea. it's the first time they have failed to progress beyond the group stage of the competition. they've won the world cup four times and knocked england out so many times but now it's back to the drawing board for germany who finish bottom of their group. ollie for studies in moscow. what happened? ollie for studies in moscow. what happened ? they ollie for studies in moscow. what happened? they have been poor throughout this world cup. they started off with a defeat to mexico and then they scraped a win against sweden. they were in the position today against south korea where a win would have got them through at mexico's expense as the other game unfolded. germany were so poor and cause as swede

>> it's just been one punch after another for users of facebook, google and other big tech.ike zuckerberg have been on an apology tour since 2016. congress may be right, this might require government intervention because you can't allow or trust the tech companies to police themselves. i think the public is sceptical on that point. charles: pretty soon he'll be testifying on five continents at the same time. >> if i'm an investor and i hear this over and over again. it used to be he could do that dog and pony show and say i'm sorry, but then we would move on. but for to us say how did you use my grandmother? how did you use my mom? charles: maybe we might all buy an alexa. >> earlier in the week i was out at apple at their new launch of ios2. the latest version of the operating system and all their products. they are the only ones in this giant category that are arriving at a place where they go, you did all right on this. you are pretty clean. charles: tim cook reminds us every time he gets a chance. having said that, scott, where do you see this going? is it a possibility?

vonnie: after 19 cross-border complaints, how many of them have to do with facebook and perhaps googlejelinek: there are some with facebook and some of google. voni there are smaller companies there? jelinek: yes. theie: how do you deal with complaints that smaller companies haven't next her burden on them? -- have an extra burden on them. enforced twoas years ago. advice ins got europe and they were supported and are supported out. vonnie: is finding enough -- fining enough? they get a fine and they move on and the stocks go higher. power togot enough keep these companies from transgressing? jelinek: data protection is going mainstream. the citizens in europe and e united states are getting aware of their rights. the data protection is a fundamental right which has to be supported by the bpa's and we will support them. vonnie: besides facebook and google, can you give us other names? , instagram, iapp don't know at the moment much more. vonnie: they are also owned by other companies. what, if any, contact with u.s. agencies have you had? jelinek: we had contact last year. we will have

so, carl, facebook first, expedia second and google third. re's a conversation earlier about where valuations are. the advantage you have with stocks like facebook, expedia, too, and google, these are pe stocks with premium, consistent growth rates and very nice free cash flow generations. that is -- we never saw that in '98, '99, 2000 these are stories that only could have been created in the last ten years and have been created. valuation stories are better and there's a little bit of wall of worry on facebook that doesn't need to exist. they still have new monetization we continue to like netflix. that stock is pretty much at or a little bit above our short-term price target. i think the stock can go higher. it's a small buy for us here. >> what do you think in its collective wisdom the market is saying with all the media combinations happening just keep it simple and they're all fighting netflix and why not buy the real thing >> you know, mike, i think there's an interesting interpretation i think jim was on the call yesterday on cnbc, tal

i guess if you need some forging done her trunk also has five star ratings on facebook google and you know. which reviews did you hide glenn i but this one this guy's lies sent me to prison and tore me away from my children one star oh god it feels good to finally get my vengeance and it's not only in new york prosecutorial misconduct happens around the country and california prosecutors for years utilize a secret jail informant program to generate questionable evidence and what was called be orange county snitch scandal and as you know. checks and preferential treatment from law enforcement in march the scandal took a violent turn when a local defense attorney who recently succeeded in overturning a client's conviction based on misconduct was in the courthouse by an orange county d.a. investigator. just has a black eye and needs a nice back but you know what this is actually a great picture for a lawyer you know have you been hurt or injured on the job well so have i police and prosecutor misconduct not faulty witnesses or false confessions is the primary cause of wrongful conviction

this is very standard, not only at facebook, but at google and every other online advertising platform. i think facebook realized that they had overstepped. >> and, i think your characterization is correct, that they overstepped, it is one of the ways they have overstepped. and what we need to understand, as one of you said, consumer information is the new class of currency, in the fact that we are the currency. you and i and everyone in this room, and everyone who is involved here. i have other questions mr. chairman, but indifference to my colleagues, i will yield to them, and will perhaps have a second round if that is possible. >> otherwise, i will go over. >> thank you. mr. patel, you spoke of a concept that consumers online should be able to access all of their data for use in a flexible manner via a token. and this reminded me that in its response to my written hearing question, that i have sent to facebook, they confirmed that much, but not all," of the users data contained in the file that it let you download. i would be interested in hearing your thoughts on user control, for

from one to four, google, apple, facebook, amazon, starting with the moderator, jack. >> google, apple, facebook, amazon? one to four, what's the scale again, i'm sorry. high essex poe sure? highest exposure, i would say google. then i would say amazon. then i'm not sure about apple and facebook, how i would rank them. >> i might flip google and amazon. >> well, i'm not going to answer the question, because it's hard. it's a hard question, and i think it's hard to answer, because each of those companies presents a unique set of issues, right, in terms of the types of strategic competitive strategies they might have a history of using, the field of rivals they are potentially dealing with around them and entering into the markets. i would also say and we haven't talked about this, it will probably get more treatment on the next panel, we talk about antitrust, we talked about it specifically in the context here, but there's a big movement afoot to sort of load up with antitrust with everything, with fixing every problem in the universe. you know, labor concerns, you know, creating a bigg

it's suspected to have a big impact on facebook, google, verizon and at&t. ever over their own data, after california passed a new law, requiring companies to disclose what information they have about consumers and with whom they're sharing it. it gives consumers the power to stop companies from selling that information. and minors under 16 are off-limits altogether. when it goes into effect in 2020, the law will require companies to provide a clear and conspicuous link on their business homepage, that will say do not sell my personal information. if a consumer opts out, the company cannot ask again for another year. once they have verified the identity, consumers can request to see their personal data and ask that it be deleted. companies must comply within 45 days. this legislation comes three months after the cambridge analytica scandal that exposed 87 million facebook users' personal information. facebook lets users access and delete their data and says it complies with the new law. companies that provide a three service will be able to charge consumers

ow it make change the wayou y use facebook, google and other websit websites. cu>>> and dramatic re caught on camera. a misrgng geoia toddler found wandering alone in theds wooy b lice. >> ready to see your mama? >> the story behind tt ha twarming memont, toy,da friday, june 39, 2018. ahnnouncer: "today" wit savannah guthrie and hoda kotb live f smtudio 1a in rockefeller plaza. >nd ad goomoinrn erevyby.od "ceom toda "toy. nioce t have you withs u on a ing.id rnmo rhtig tohe t ovghernit developing on the mass shooting inside thepi "catagal e"zett ceoffisn i annapolis, mandryla. t>>he -y38eaolr-dpe to aeappr in crtouat ler t his orning afterha crg wedithe fiv co ountsf firrst-degree murde ovnier ght. >>ol p ciceal ils a targeted ck.t e ttha m hayave stemmed from a lo-sndtaing gdgrue the 38eaolr-eld hdin agast the wspaper. the five vicmstiow n idtified. ourrn joualtsis and aes sal si hasstant. wee in-ptdeher covage this ngin and gngoio tk taliv le this jungnt iernho was w nde the newsroom as the shting ben,ga aet twero fmis h onphene wt viral. les t' tgocro g ailv

this is very standard not only at facebook but google and every other online advertising platform. i think facebook realized they overstepped area -- overstepped. >> i think your characterization is correct. they overstepped. it is one of the ways they overstepped. this is the new class of currency. you and i are the currency, everyone in this room who is involved h iother questions. i will yield to my colleagues. >> senator fischer? >> thank you mr. chairman. >> you spoke of a concept that consumers should be able to access all of their data for use in a flexible manner. of a written me response. they confirmed that not but much -- of the user state is user's data is in the file. i would be interested in hearing your thoughts on user control. be able tobook users see their personal data containing all of the personal information the company knows about them. >> mike answered -- my answer to that is absolutely. there is a big difference between getting a cd-rom file or a backup that is not machine-readable. it contains prohibitions on used by other third parties. this is a token tha

fast-forward six months and we heard from congress from facebook, as well as google and twitter about 126 million americans that viewed russian propaganda in the lead up to the election. emily: facebook shares, despite all these scandals and controversy, are up. is this really in the best interest of shareholders if shareholders are getting their money? natasha: we found that the risk is not gone. when the cambridge analytica scandal hit, which was not just about consumer privacy and trust, but about people taking data and using it to manipulate users for political gain. what we saw following that was $100 billion fall in shareholder value. that indicates that when these crises hit, the market is going to respond. at this point, facebook is holding almost a monopoly type pon this type of social networking. including instagram. what has really opened up over the year, given so many fumbles on the part of facebook management is that there is an invitation for more competitors. shareholders want the company to protect their share and address these risks. emily: we will be following to se

i'll know that the platforms for the three major one twitter and facebook and google have come out with rules about the 2016 election and the huffington post called it the facebook commission so i am curious about your views whether or not that is sufficient? for what should happen with respect to that type of regulation from those platforms? i will start briefly. number one is nice the companies are starting to think about this and take some steps a couple of observations, first, the different platforms the big three facebook and twitter and google are taking different steps to define things like what is a covered add is that the issues what are they doing? what is the threshold different. one of my concern that to the extent the disclosure requirements are aimed at providing contacts and educating consumers you are giving confusing signals that almost makes the problem worse because the how to interpret the different data. in all these different platforms so this is why we need a legal framework to ensure that consistency across from them don't include issue ads that send the mat -- t

it will not affect the likes of facebook and google because they have the power, the resources, to do on tiny websites who could face big planes if their users, you know, put a video up that belongs to somebody else —— they could face big fines. it is also said it could be the death of the meme, where people mix and match different videos and still is to create something viral, and it could fall foul of these measures, but the politicians say it is needed to protect the rights holders, and of course the rights holders, and of course the rights holders agree. and we are too old to know? everybody over 25, which may include me, may include you two, who knows? we are forever 21, ok. you're probably very well informed. but twitch is a platform where other people go to watch mainly other people go to watch mainly other people playing video games. it is usually popular. it has an audience somewhat close to the people watching news channels. so boring! why would you do that? yes, why would you watch people playing games? nobody is interested in people taking balls around. and the people taki

facebook, google and netflix are a huge portion of the portfolio. >> thank you. back to you.p, lots to chat about today. .il in focus a weekly surge. we have the commodity markets. we will have a quick peek at every chart you ever want, every chart you believe in. >> amazon is taking on the neighborhood are messy. i cover retail for bloomberg news in new york. is focused on the 30 million americans that take five or more prescriptions a day. has a mail order license in all 50 states which could allow amazon to expand quickly. pill pack has a 50,000 square foot distribution warehouse. robots help sort pills and automate many pharmacy tasks. pill pack also has relationships both major drug managers. they work with most medicare drug lance. while cbs or walgreens could mimic the models they are not worried. twitter.ollow me on vonnie: that is some of our reporting from tictoc on twitter. mark: live from london, here in the bloomberg european headquarters i'm mark martin. this is the bloomberg market. has more.emma indicating president trump could pull the united states out of th

facebook and google already have targets ads but at leas they're giving me their service for free. i paying online to at&t or ve fzon my cell phone bill. >> you just touched on something i want to ask, that isqu the stion over who controls content. the at&t decision came on the hes of the end of net neutral this weekend. those were the rules that required at&t to treat all web traffic equally and not prionttize their con over others. what does this landscape now mean? we ha the at&t merger approved and the end of net neutral. how does this all affect eonsumers? >>l have to see. if at&t chooses to prefer its own content, is going to against the ethos of net neu does that hurt netflix? but consumers still have the choice. f at&t funnels hbo really fast, a f netflix can just go to comcast. if we do end up with very few options and you can't hop as easily from company to company, locked into racts, that's where we run into an issue. >> i agree, jeremy. i think the big issue is going to be fewer choices. these are a smallig number of companies, so your choice is going to be do you want

this is very standd not only at facebook but google and almost every other online advertising platform. facebook realized they had overstepp overstepped. >> i think your characterization is correct, they overstepped. what we need to understand is consumer information is the new class of currency, in effect, we are the currency. you and i and everyone in this room and everyone who is involved here. i have other questions, mr. chairman, but in deference to my colleagues i'll yield to them and perhaps we'll have a second round if that's possible. otherwise i'll go over my time. >> senator fisher. >> thank you, mr. chairman. mr. matel you spoke of a concept that consumers online should be able to access all of their data for use in a flexible manner via a token and this reminded me that in its response to my written hearing questions that i had sent tofacebook, they confirmed that quote, much but not all, close quote of a user's data is contained in theile that it let's you download. i would be inned in hearing your thoughts on user control. for example, should facebook users be able to ac

been going on even before cambridge analytica came into our heads based on the facebook scandal this was opposed by google, facebook, verizon, at&t, just any of the big tech companies, and they spent over $200,000 apiece to oppose the ballot initiative. and the amazing part of this story was that this -- the draft of the bill only came together about a week ago and now it's already been signed into law. it went fast. >> we have to beat the ballot initiative. let's talk about what the new law just signed by the governor does for consumers. >> reporter: you get to know all of the data that businesses are collecting on you. you can transfer the data twice annually for free. you can opt out of having your personal information sold. here's the thing. companies can then charge you a higher fee. so facebook, i don't want to you just sell any of my information anymore. facebook might charge you -- and i'm not saying they will, they could charge you a dollar or more to pay for their platform. you have to pay for privacy? that's weird. but you can delete your data. you can tell the business not to sell your data. o

facebook who are doing it wrong? toapple is trying very hard position itself as an anti-google and anti-facebook and the way they approachook monetize your data. they are then able to deliver targeted ads. apple has a very different business. hardware and increasingly services. -- or has not said, sorry. the wall street journal has a scoop that they are trying to get back into the advertising space. if you are preventing the competition from gathering data on people, that means your ads could be just as well targeted. tom: the company has really stumbled. they are only up 24 percent a year for the last 10 yea we are going to get to a trillion dollars at some point. what was the tone in that room? was it an upbeat tone with developers? >> absolutely. these are events where people applaud. it is not a press conference. these events are focused on the software. they do not tend to have the rdware announcements. it is showing you the widgets the developers play with. what seems to us is very incremental foem could be colossal. tom: thank you very much. greatly appreciated. 100 has done better than good recently. i have a nas

ramy:ramy: the senate intelligence committee wants the ceos of facebook, google, and twitter to answerstions about the security of their platforms, including their relationships with china. sarah frier has been following all of this. sarah, talk to us about the concerns from these senators. sarah: fresh off in targeting facebook about another data scandal, senators are on to the next one. this time, it has to do with these device data partnerships. to get aases, in order more native experience on phones and an easier experience, they may be able to let of these device manufacturers make devices on their behalf, on behalf of facebook and twitter. these deals are being scrutinized. ei the u.s., we consider huaw to be a national security risk, and there have been concerns about them among other chinese device makers. they want to know about what exactly these partnerships entail. sarah, facebook, just to make matters worse, we learned thishave admitted to software bug that's at the audience for people's posts to public, even if users intended to show them as private. its another indicatio

apple, microsoft, amazon, facebook and google.that concentration ag maki you a little concerned about the rest of the market >> what we know is those top five names are the same volumes as the bottom 250 in the s&p and even more. growth- we have a very questionable synchronized global growth in question there are issues with banks in europe and there are currency wars so favoring things like this is what prudent investing is all about. >> of all the things, does the apple chart look the best to you? >> it does, just because of that tight, tight range that's tension when you can't move. and then you start to break out, that usually gives you a follow-through of some magnitude. >> carter, thank you thanks for breaking down that twitter chart for us. >>> still ahead, mcdonald's pushing its fast food into the future the ceo speaking to cnbc exclusively today ansomething he said has tim seymour pounding e. in thentime, here's what else is coming up on "fast." >> i like it a lot. >> investors seem to like facebook a lot, despite a data

we about what google is doing, what facebook is doing an apple and microsoft and amazon with machine learning and artificial intelligence but not as much about how is a being incorporated into the actual networks, what does it mean for wireless coverage, what does it mean with a combination of 5g and just that explosion of data, how does that drive the conversation and industry going forward? that something that hasn't been exported that much. >> last question, we always axios point out what's new and white matters, our brains are wired, brevity, and so for why it matters for this event, , you have been leading our coverage of the change in, even since axios launched 513 days ago, and that is the new attention to the societal impacts of these platforms in addition to the economic, financial, business regulatory aspects which you and i have covered, which you have covered for so long. what's it like to lead that covered and whites the nation of axios as we have this big change in other platforms our pursuit? >> there's so much more information out there, partly driven by these platfor

the likes of apple, facebook, google, amazon who announced they're starting to dip their toes in financial services are they a bigger threat to you than startups are? >> i've always viewed startups as a positive disruptive element. i view this clollaborative way o works positive we have open apis and so on. i do see as you say big tech certainly that has happened in asia with chinese players move into financial services. the risk is that the banks are one step behind the customers as plays when big tech expand their offerings into everything. >> we'll have to leave it there. thank you so much for joining me that was carlos torres talking about his view back to you in the studio. >> thank you very much, indeed that is it for today's show. i am steve sedgwick. "worldwide exchange" is coming up u.s. futures pointing to the up side at the start of trade we'll be back here in europe, same time, same place tomorrow >>> it is 5:00 a.m. at cnbc global headquarters. top five at 5. china issuing new warning. >>> breaking deals there microsoft reportedly nearing a deal to buy github volcano in guatem

first facebook, now google's ties to chinese telecom huawei is raising alarms in congress. we've got the details on that fight. >>> late night comedienne samantha bee did return to the air for weekly cbs show. she's apologizing again, sort of. we have the sound. but first, red state democrat senator joe manchin now saying he regrets supporting hillary clinton and he could support president trump in 2020. we're bringing in rnc spokesperson kayleigh mcenany. she's not surprised about this. her reaction to manchin's 180 after this break. don't go away. metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with new everyday verzenio- the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- mbc, approved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrin

you know facebook and google amazon where much bigger all that it is amazing to think about talking about what you can live with the munchies on on facebook that is the money that we seems to just keep going up here on the air easy trickling down to the grassroots of the sport which i was you know that's important that something comes back into the game. yeah look i think i think you can always you can always improve what else that's. that's that's a discussion of how to cross cross many countries and. and i think it's our you find being honest i think is still us but it is still a work in progress a lot more can be done a lot a lot of the money still concentrated the top at the top of the game is going to the players and their agents of football clubs would like to see more money going into you know into the community i think some countries do better than others but hopefully in the as you know eyes as more money comes into the game to be realisation is this some form of responsibility at least that the sports and these and these teams have to the community and then we'll trickle down ju

she spoke out in support of the law because facebook already made the changes. >> trace: if i'm googleg does it take? >> in 2020. the key thing here, the law gives the right to sue companies if they're not protecting data. if you're data gets scooped up in a hack, you can get some cash out of it. >> trace: i'm sure the lawyers are all over that one. hillary vaughn, thank you. the cost of your favorite soda won't be going up any time soon. jerry brown signed a bill that banned cities and counties from taxing soda and other drinks for the next 12 years. it's a major win for the beverage industry and defeats the state's public health advocates that had argued soda tax would help fight obesity. berkeley, california passed the country's first ever soda tax. remember that? which will remain in effect despite the new law. governor brown says he had to sign the bill because the soda lobby made it difficult to pass taxes on any item. america is short tens of thousands of truck drivers. without drivers to move stuff back and forth, the u.s. economy could hit the brakes. some trucking companies m

facebook, google, twitter and amazon, we learn have all partnered with the southern poverty law center around the reporting of the daily caller. all of that allowed those technology companies to, well, promote the southern poverty law certain and that in turn has allowed the southern poverty law center to have the power to designate who and who is not in hate groups. joining us tonight, ed rollins, former reagan white house political director, great american pac chairman, great friend and great american. >> thank you. just in case people don't know what that organization is, it's probably the most left-wing political organization in the country and has been forever. it's very active. where they put all of their operatives when they're not running campaigns. lou: and they've got a half a billion dollars they raised and no one knows where the money came from. some would say it came from the obama justice department as they were sending out fining to various friends of the obama administration. it turns out that the president doesn't have one friend that he thought was going to be a prett

frank is facebook, netflix and google —— fang. and amazon. money. zonm the uk we have the treasury women's in finance charter coming out and that ties in with comments we have heard earlier this month about the —— from the deputy governor of the bank of england talking about the role of women he hopes to see coming through at the bank. absolutely, the report will name and shame a few high companies who don't have women on the board. sports direct and stow but our two of the companies. yet a new governor of the anger ringland ina yearorso new governor of the anger ringland in a year or so when mark carney ended his term and there is clearly the discussion —— of the bank of england. that is an argument to say that the next governor should be a woman. how likely is that? if you area woman. how likely is that? if you are a betting person you would say probably not because of how old and institution it is. there is a positive argument in general. the uk economy as a 2—d four or five years coming up so arguably a woman could doa coming up so arguably a wom

at facebook or google, for example, they say that you are allowed to ask co—workers out, but only oneuld include saying that they have plans what they are busy. that cou nts plans what they are busy. that counts as a no to google. but obviously it is a tricky subject. 0ne survey suggested nearly 40% of employees here in the united states have had a relationship with one of their co—workers. that is the same percentage it has been for a decade. companies are trying to work out what is the correct policy when it comes to allowing or not allowing romantic relationships in the workplace. kim gittleson they are. will have more on that story in the news briefing, shortly. —— there. the european union has introduced tariffs on around $3 billion worth of us imports — including jeans, bourbon whiskey, and motorcycles. the move is a retaliation for us tariffs on imported steel and aluminium — which european commission president jean—claude juncker described as going against "all logic and history." eu finance ministers have agreed to give greece a ten—year extension on more than $100 billion of

don't have that same choice will we get to a point where the federal government says that you, facebook, you google, you amazon, you cannot get access unless people choose to opt in and allow you thataccess >> his new book is called frenemies. >>> a record setting week for the stock market nasdaq closing at an all time high technology providing a lift. nasdaq hit a high on thursday. it didn't hold onto gains. dow was strong as well breaking through 25,000 for the first time in more than two weeks. stocks continued to be up on friday it showed job openings at record highs. it increase today 6.7 million. it helped confirm a strong jobs market and difficulty in finding qualified employees. >>> if you're planning a trip to ihop you better. it will soon be called ihob i'm betting it is either breakfast or bitcoin >>> the challenges that the industry faces >>> later, the best and worst cities for retirees. right now take a look at how the stock market ended the week. >>> home health aids are in high demand we have more on what it takes to be a successful caregiver. >> you introduce yourself and that's a

difficult for the smaller companies to operate in the space and in a perverse way, given the facebooks and googlesf the world an advantage. >> we talked about that a lot. the big-guy advantage on gdpr. is there any way around that or is that sort of the natural flow of regulation and the response to that reguon by companies that have the legal firepower to adhere to it >> i think the most difficult thing about trying to restrict these big tech companies and growing is that customers don't want them to be restricted the reason monopolies, you were able to restrict them, customers wanted you to cut back on them here, customers love the products because they're getting them for free. it's difficult politically to pull back on these companies you'll get little nibbles at the companies but you're really not going to hurt them. >> all right i guess we will see which way the market swings these and affects these valuation concerns aswath, thanks for joining us. >> thank you. >>> coming up, we're headed back live to cannes for more from cnbc's exclusive interview with snap co-founder and ceo evan spiegel.