management board has come to an agreement with its workers council over restructuring plans of the automakers german factories the number of job cuts will be capped at less than four thousand and on a voluntary basis the remaining fifteen thousand workers will receive protection from layoffs until summer twenty twenty three and return employees agreed to defer a negotiated pay hikes the carmaker has been in the red for the past twenty years. the e.u. parliament has approved a labor reforms designed to protect posted workers the revised rules are designed to keep workers coming from other e.u. countries from being exploited and paid lower wages from mid twenty twenty a same pay for equal work rule will apply to everyone with travel costs and accommodation no longer deducted from workers' wages the rules cover more than two million people from four e.u. countries coming to work in wealthier countries in germany alone there are some four hundred thousand postal workers the majority from poland. the e.u. commission has presented plans to combat plastic waste in the environment specifically in the

they will also have to replace the management board. it was the largest penalty ever levied. continue monitoring the behaviour of zte. american lawmakers are all divided by the deal, saying it does not go far enough and does not paint the huge chinese firm in the same brush as some of america's allies, canada and the eu, which you were talking about, also accused of violating america's national security. they blocked zte‘s access to american suppliers, saying they violated a settlement. xi jinping asked the us to reconsider the punishment and essentially it had forced zte, which we know as a major employer in china, to suspend major operations, which is why the us intervened and president trump at the time said he was doing xi jinping a bit of a favour. decides that, we have the chinese trade surplus with monthly numbers. they widened to $25 billion in may. not music to the use of donald trump. thank you very much indeed, sharanjit leyl. thank you very much indeed, shara njit leyl. and thank you very much indeed, sharanjit leyl. and now we go to sydney. that is where the avia

entrepeneur elon musk has survived a bid to reform the management board at tesla. 0ne investor wantedrip the tesla founder and chief executive of his other role — as chairman. meanwhile the company also announced that its newest "gigafactory" — or giant lithium—ion battery plant — would be built in shanghai. the financial times reports investors who backed a rebranding of cambridge analytica are in a stand—off with former chief executive alexander nix — after he allegedly withdrew $8 million from the scandal—hit data firm before it collapsed. the paper said mr nix did not respond to multiple requests for comment. years before a parliamentary select committee today so will doubtless be probed on it again. —— he is before a parliamentary select committee today. now let's turn to europe, where italy's new anti—establishment government has won its first confidence vote in the country's senate, outlining its policies. a vote later today in the chamber of deputies, where the five star movement have a majority could turn these plans into reality. so what could they involve? well, prime minis

entrepeneur elon musk has survived an attempt to reform the management board at tesla.la founder and chief executive of his other role — as chairman. meanwhile the company also announced that its newest "gigafactory" — or giant lithium—ion battery plant — would be built in shanghai. the future of struggling discount retailer poundworld remember yesterday we talked about the boss of qatar airways — who said that a woman could not do hisjob? well, he's now said sorry. akbar al—ba ker has issued what he called "heartfelt apologies for any offence caused". in his earlier comments he'd said that the airline had to be led by a man "because it is a very challenging position". he later defended qatar airways' record on gender diversity, but that failed to quell growing criticism. joining us now is kate andrews, news editor at the institute of economic affairs. how much damage can comments like this do to a brand? they can do huge damage but a lot of that depends on our assumptions about the brand already, and his comments are in line with many accusations are ready against qata

zte has also been asked to replace its management board in 30 days.we have lawmakers, democrats and republicans, who are not happy with the deal. they consider zte to be a security risk. they are actually now making up new legislation so they can take some of those penalties prior and reinstate them. it is unclear how much support they have at the time. thank you forjoining us. at the time. thank you forjoining us. let's check on the markets. asian markets have mainly retreated today at the end of a broadly positive week, with traders turning their attention to the g7 summit. while there remain concerns about a possible trade war and other geopolitical issues, equities have enjoyed a positive run since last friday's strong us jobs report that fuelled optimism. let's find out how european markets have fared. and in london, bt group's share price rose sharply on the open, after the news that ceo gavin patterson is stepping down the rising pound is putting pressure on the ftse 100. what is going on in the us later today? paul blake has all the details ab

manager. you should in hiring them express the view that this board is concerned about the action of unuse of carbon. you should tell the manager before you hire them, you would hope they car that risk -- they consider that risk in their process. with respect to your private markets, indeed you would look for strategies. if you can money on strategies that will help move us away from dependence on fossil fuel, so much the better. i believe that the opportunity to invest with generation came up just they educated. it's i ndicated. i believe this board, we did the due diligence on them as well as staff. our recommendation to hire them as well as this staff recommendation to hire them they were an outstanding manager in terms of return for unit of r isk. by the way, this is a very environmentally sound and responsible manager we like more of them. i don't think the condition of hiring them was based on that. it was based on the fact that they were good manager. i personally think this board puts itself in a dangerous position with respect to fiduciary responsibility. you can express the views and

so i think conglomerates boil down to the ability for management, the board, to effectively run thoseou don't have industrial experience, if you don't have the understanding and the importance of granulity, if you haven't', you are opening the door for an activist and you will have to pare off those businesses. maria: that's what happened. do you think the stock ever recovers to its glory days? >> i won't predict the stock. they are in a very tough situation. i think they are going to have to really probably continue with the divesttures to generate more cash. are they going to have to cut the dividend again to maintain cash flow? maria: that would be hard for shareholders if they cut the dividends again. we'll keep watching that. let's talk about the auto business. how you spent so much time there at obviously chrysler. fouro your thoughts on where we are in terms of -- your thoughts on where we are in terms of the business. are people buying the vehicles? >> i got into the car industry, we were at $17 million seasonally adjusted rate. i saw it fall to 9.6. i think that forced the au

they'd need to replace their entire management and board.f this unnerving investors and wiping out $2.7 billion in market value. edwin china is here with me. it was almost facing bankruptcy. it has been -- it has risen like a phoenix. that's right. >> replacing your entire management but toward as well. fullight, they nominated a slew of ceos. for theal junction industry. just as we are getting into 5g roll out and have le and the need to rebuild trust and credibility with not just the customers, but also with government and regulators across the entire planet. rishaad: what about lawmakers in the u.s.? they could move further to restrict with the company does there. where are you with this? >> there are a group of vociferous u.s. lawmars trying to to bills that will essentially reinstate the ban that was the source of all the trouble to begin with. it is unclear whether it will gain at the necessarattraction to pass legislation. at the end, donald trump could just be told this legislation. right now it is hard to handicap. zte have to dos n

that's why they believe more drastic change is needed and are urging allergan to engage in a management and board shakeup they're pushing allergan to split the office of chairman and ceo, both roles are held by brent saunders find a n cha ceo, reat least tw directors on the board, and upgrade management and key operating units. tepper silverman said they should refocus their attention on running a pharmaceutical and aesthetics business and forego its m&a strategy previous letters indicate they have met behind the scenes and have been communicating with the company for months it's rare, of course, to see appaloosa and senator en in such public activism. last high-profail case was three years ago when apaloosa and a consortium of hedge funds pushed for buybacks at gm they didn't immediately respond to our request for response, but shares of allergan are down 32% over the last year together, apaloosa and senator hold less than 2% of market cap. as you can see there, the stock is up about half a percent today. >> stay with me for a second i want to go to our breaking news desk to courtney reagan who

entrepeneur elon musk has survived an attempt to reform the management board at tesla.ny also announced that its newest "gigafactory" — or giant lithium—ion battery plant — would be built in shanghai. and electrifying meeting. right... facebook and data — what's happened this time? we talked about this yesterday. we talked about this yesterdaym isa we talked about this yesterdaym is a bit ofa we talked about this yesterdaym is a bit of a theme. facebook has confirmed it has a data—sharing partnership with chinese firms including huawei. huawei is a well—known telecoms firm and makes smartphones, tablets and so on — but is a company us intelligence previously flagged as a security threat. the agreements gave the chinese firms some access to users' data to help them build facebook "experiences" on their own platforms. facebook said all the data collected remained on users' phones not servers. huawei said its cooperation with facebook was to improve user services and has denied collecting or storing user data. this adds to the scrutiny that facebook is already under about

so i think conglomerates boil down to the ability for management, the board, to effectively run thoseou don't have industrial experience, if you don't have the understanding and the importance of granulity, if you haven't', you are opening the door for an activist and you will have to pare off those businesses. maria: that's what happened. do you think the stock ever recovers to its glory days? >> i won't predict the stock. they are in a very tough situation. i think they are going to have to really probably continue with the divesttures to generate more cash. are they going to have to cut the dividend again to maintain cash flow? maria: that would be hard for shareholders if they cut the dividends again. we'll keep watching that. let's talk about the auto business. how you spent so much time there at obviously chrysler. fouro your thoughts on where we are in terms of -- your thoughts on where we are in terms of the business. are people buying the vehicles? >> i got into the car industry, we were at $17 million seasonally adjusted rate. i saw it fall to 9.6. i think that forced the au

market close because stocks did decline across the board, but they did manage to close well off theirows of the day. the dow is in its longest losing streak since march of 2017. investors also piling into bonds. su keenan is here. : as you said at the top of the show, you had trump what china with these tariffs and china whacked back, the back-and-forth has been worrisome. what we had was treasuries rising with dollar yields falling. the dow fell by the russell 2000 small caps hitting a fresh record. we will get more on that in a moment. let's take a look at some of the stocks that analysts and investors view as highly exposed to any retaliation from china. apple at the top of the list, china counts almost 20% of its revenue, it's looking to expand. facebook, netflix, more google also had some exposure and general motors and tesla both expanding on -- planning on extending into china, they both got it hard and closed off the lows of the day. let's look at some other movers because there were a lot of rallying stocks. netflix heating the $400 mark as bulls push higher with these price

the shareholders will take care of the new board and the new management the part that we will take care the key part it's not our job to make cell phones it is our job to make sure they don't violate sanctions, that's why we will be putting our own compliance regime in and our own compliance people. >> will they be americans? will that be an outside company or consulting firm that you would hire to oversee this >> no, it will be individuals. it will be individuals who are community in chinese, because this is going to affect the total company, not just the american part of the company that's the other unique feature. this is the first time that i am aware that a major foreign company has been brought into strict compliance with u.s.ic port control rules >> yes, definitely good they will be fluent in mandarin -- we talked about that earlier actually in storms, you definitely want to make sure they're in the room and they know what's going on, otherwise, yeah hey, wilbur, you have been a republican your whole life, haven't you? >> no, i don't know that that's true >> all right but you see

has been a great campaign to get women on boards and persuade business to set best practice and have a toolbox of how to get there. what about middle management 110w this change on the board level we now have the gender pay gap reporting. results have been coming through and people are concerned that still it is the man in the top jobs earning more. the issue now is how do you analyse that. why is that? the majority of women —— undergraduates are women with good degrees. what happens? business and women and hr departments are wondering why they lose the women? how can they promote them? are we using the best talent because with an ageing population we must have the best people at the top of business. gender equality and the gender pay gap has now been a major issue front and centre because last week the head of qatar airways said that he, that only a man could do hisjob. one that he, that only a man could do his job. one of that he, that only a man could do hisjob. one of our most that he, that only a man could do his job. one of our most successful business women in the uk was the chief executive of easyjet. when she was there she said that

board the newest, the biggest, the fastest good year blimp they >> good luck. >> they give you lots of leg room. >> in this particular case, yes. it is so new lots of space because you manageo get it on board. >> you get to know quite quite e >> right now 3 seconds. it will start with details. >> you ride on it like waes. >> there are only nine good year blimp pilots in the world. if you want to learn how to be one it's not easy. >> the only way is if you work far company that offers no blimp simulators. >> wow. >> did they. >> i would bet we are seeing it shortly. >> wants some more. >> oh, my gosh. >> objects in a mirror are closer than they appear. >> i'm thinking of the certain scene where a certain car was chased bay t-rex. in this case it is a bunch of chickens. >> that's the thing, they are some what related. >> eric went to one side to see the run size. it's this view they will remember because these chickens are wild there. some people will throw food at them. >> he trained a bunch of chickens to run into the road. >> why did the chicken cross the road? >> it crossed the road because it was hungry. >> this one shows some people are lazy but want a free ride. >> i

change entire management and board of directors as part of the deal within 30 days but is it enough? >> only time will tell. zte is per per -- perpetually violating u.s. sanctions including north korea and iran. this is modus operandi. only time will tell. this is bipartisan issue where both sides on the aisle are talking about even stricter and more harsh actions against zte because they have never been able to change their stripes. and so, like i said only time will tell but this president actually has a tough road ahead of him in negotiating with the chinese specially on on situations like this because it is played into the qualcomm, nxpi, transaction and what you saw chinese were holding up american company in qualcomm purchasing nxpi. this is very difficult. melissa: todd, you hope the u.s. is getting something we don't know about. >> i think the deal is going to be fine. one of the key things, the linchpin i call it, having our own people doing the investigation and checking, versus trusting somebody to do that. we can do it whenever we want. that is much bigger ordeal, we can

entrepeneur elon musk has survived a bid to reform the management board at tesla. 0ne investor wantedithium—ion battery plant — would be built in shanghai. the boss of qatar airways has issued "heartfelt apologies for any offence caused" for saying that a woman could not do his job. akbar al—baker said on tuesday that the airline had to be led by a man "because it is a very challenging position". but ina but in a statement today he says qatar airways fully supports gender equality. we've had an update from retailer wh smith this morning. it's reported a 1% increase in like—for—like sales for the third quarter. the firm's travel business grew 3% as well, but its high street business fell 1%. it comes as wh smith was recently voted the worst shop on the high street by which? the retail giant was ranked poorly for both customer service and value for money by more than 10,000 customers. joining us now is diane wehrle, marketing and insights director at springboard. nice to see you. first, your take on these figures because it is a familiar picture, retail at things like airports and railw

they have this slightly curious structure with an oversight board and a management board and that confusese gradually evolving, you look at french banks, to a position where the chairman-chief executive relationship looks similar to the u.k.. francine: have you been following the heathrow expansion question? tom: i have. francine: a real saga. do you think that we will have a third runway at heathrow? howard: i am more optimistic about it now that i was 10 days ago. the government has said they will propose a vote in parliament soon. i think, in principle, there is a majority in parliament for this. it depends a bit on how party leadership decide to play their whipping arrangements. i am more optimistic. more and more people are seeing the logic. tom: i am running out of time but i want to have you back just to talk about the taxes due when you fly into heathrow? this is a major source of cocktail conversation in new york city. we don't have time to do it today and it is unfair to you but you have to come back and tell me about this taxation that we are seeing at heathrow airport. davies,u

they had risk management practices across the board. i don't say that lightly. the report indicates that eight out of these 12 fires, all involved violations of state law dealing with tree trimming practices,, failure to maintain trees a failure distance, eight distribution line so they wouldn't pose a hazard. >> the loss of life to homes and businesses is simply heartbreaking. we remain focused on helping communities rebuild, we look forward to helping everyone. based on the information that we have so far, we continue to believe our overall programs met the state's high standards. >> pg&e refused to give an interview. they gave a statement from one of their reps. they did not allow us to ask questions. that is why we aired the written statement. the cause of the fire that killed 22 people and destroyed the coffee park neighborhood, that is still outstanding tonight. back to you. >>> they will likely try to deflect blame onto other agencies. there are signs of local officials falling short during the disaster. >> as they look to share the blame, one of the plac

them out of business, now, they're accepting having this compliance team in, whole new management, whole new board. should serve as a very strong deterrent not only for them but other potential bad actor. >>> staying with the subject of chinese telecom companies they have written a litter to alphabet and twitter questioning data sharing with a company. the google parent company said it does not provide special access to google user data twitter refused to comment the senator behind the questioning has raised questions. >>> argentine lifeline we'll bring you details as argentina agrees to a financing deal with the imf. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better

we are fully committed as a management board here.onfident to get over this one and be a key partner here in the u.s. >> strong response there if we look at the share price over the last 48 hours, the response to that failure relatively muted it's just the u.s. unit and just the qualitative part the muted reaction the last 48 hours hides the decline we've seen recently. year to date, deutsche bank stock down 42% it hit another record all-time low earlier this week. and all of the problems that the banks face, we discuss more in this interview including the plans for restructuring, the employee morale, what it looks like and the idea of the trade policies all of that still to come here on cnbc throughout the day and on "closing bell." >> we'll look forward to that. thanks for that. appreciate it. mohamed, what do you think you work for a german company. allianz, german insurance company. it's the biggest bank in europe. how important systemically is deutsche bank? >> i think deutsche bank is in the process of redefining their business

and one of the most important roles the board can play is overseeing the managementd balances on that power. when you have the ceo of the company also serving as the chair of the board, there is an inherent conflict of interest. as a practical matter, elon musk has not shown much propensity to listen to the shareholders. is it likely he is going to listen to the shareholders this time or near the future or is it more like the markets will send him a message? kern: i think it is a combination. the rise in opposition that we have seen, these voices are becoming louder and louder. mpany is going to have to answer to its top shareholders. whether they secure a majority vote or not, they are still going to have to engage in dialogue around these issues, because i don't think the sentiment is going to go away. that are numerous factors investors look at but glass lewis in particular, our clientele are essentially looking to support the company versus short-term profit. requiresto do so, it engagement with the board and management over the long-term. they're going to have t

. >> no, that is why president insisted there be a new management, a new board of directors, someone it. almost like if we were in a weapons negotiation i would have outside people verifying and make sure they are acting how they should be. with safe gaurs in place president is prepared to allow this to move forward, most of xte is buying technology parts from u.s. company. liz: mark thank you. >> thank you. liz: google, liberal silicon valley google, telling workers it will not renew contract with pentagon to work on artificial intelligence. we have new breaking details on work that pentagon is doing involving artificial intelligence, it could save lives in the world. but first, bill clinton now downplays his initial comments about monica lewinsky after a backlash, we show you what has people fired up. >> and look who else is fired up, bree peyton is responding to the sound after this. sher inves. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fee

digesters facilities construction management, for augmentation services for an amount fiat knot to exceed $42 million, for a term of seven years to commence following board approval through july 2025. >> supervisor kim: i see the biosolids project manager is here to present and alan johnson is also here to answer questions. >> good morning, supervisors. i'm caroline chiu. so this biosolids project is the has largest project in the sewer system improvement program. the ssip is a large capital improvement program aimed at addressing our aging sewer system and to ensure a long-term and seismically safe waste water system. so through the project, we're going to address the aging infrastructure and outdated structures. located at bayview hunters point area, it is critical to our structure of the city. we're going to replace the solid handling portion of the treatment plant, one half of the plant, as shown in the figure in yellow, is the existing system. you'll see that those existing digesters, the circular tanks on the bottom of the yellow square, were built in the 1940s and are located across the street from residential homes. so through this project, we're

the train is waiting at edinburgh is way station that we sit by general manager michael and. them on board with a traditional gaelic toast. the train it's milled across the the fold of the observation car at the rear of the train has a small sweeping views of the scottish countryside. to treat. a round trip loops around from edinburgh to cut continuing on to any more and then inverness in the heart of the highlands to. the camp you. see towering over. the showers by. the brook a fizzles the scottish national flower to trace the title. to the first afternoon of the trip begins with a classic afternoon tea of sandwiches and scums enjoyed in the company of fellow travelers in the spacious lounge. the oil scotsman evokes a more elegant era of travel enjoyed a century ago we talking back to tradition when this was the best way of travelling right scotland. travelling from country state country strings with your own private road we carry just the best of produce from on sea from mad partying on to shooting fishing and shooting do we really. and that's exactly what the forty passengers on board d

and what it does, it makes the case to our executive team, to our managers and then also to the board that this is a service that is so critical and desperately needed. so we expect it to continue. our budget goes for adoption to th boa ihink on june 14. so this for a full year, will be included in the budget. i don't think our board is going to reject it. i think it's going to continue all the way through fiscal year 19. and then from there, we will also look at rolling it out for future years as well. now, we do -- we have already received questions about whether or not it can be rolled out, expanded to other stio ant'a question that we're going to have to really figure out. we've already had early conversations. nothing identified or confirmed. but know that the cost of r a ful ar, it's about $1.2his million. that is not for bart staff charging, that is not for sfmta bart staff charging, that for a hunters point family to deliver all the support they need for the program. so $1.2 million, that's for two stations if we were to roll out to other stations, we have to double that, or t

train is waiting at edinburgh is way to the station where guests that we sit by general manager michael and. them on board with a traditional gaelic toast. the train it's molded across the for the whole of the observation car at the rear of the train has a small dick offering sweeping views of the scottish countryside the three day round trip around from edinburgh to cause continuing on to any more and then inverness in the hands of the hind end seat. it would be different if. it was a towel. and the showers behind. me give it to the souls of the scottish national flower to create the title. to the first afternoon of the trip begins with a classic afternoon tea of sandwiches and skulls enjoyed in the company of fellow travelers in the spacious lounge. of the oil scotsman evokes a more elegant era of travel enjoyed a century ago we talk about some a tradition when this was the best way of travelling around stopping. travelling from country states contrasting with your own private road we courage is the best to produce from on from sea from mad partying on to shooting fishing and getting to eat more. and th

conversations that we have, and i want to acknowledge that to the way in which, i as the board president, manage the public comment is difficult. i want to be able to honour that. specifically i want to say to virginia marshall cactuses with no disrespect. and i recognized that, okay. this is why we are not doing this. thank you for being here. i am apologizing for those who didn't get a chance to speak. we organized it so it was fair. thank you it missed marshall. we are going onto the next thing to him. thank you. great. thank you pork i am on to the approval of board policy 3110. transfer the funds by a plant or supplied meeting of the board. missed marshall, if you don't mind... that's great. thank you. i am going to allow you to finish what you need to say, and then this will be a good time for those who are part of the charter conversation to leave the boardroom. i will allow the student delegates to leave. it is 9:00 and we want to thank mr -- oh, what your resolution is still up. which item is yours? so nice. okay, can i get all my commissioners back, please? we have a lot on the agenda

person a nean or ceo from outside the company, replace two additional directors on th board and upgrade managementsonnel in critical operating unit units. it's unclear whether either of those investors will be nominating their own candidate to the board we'll be monitoring this closely. back to you. >> leslie picker, thank you. >>> when we return, a little bird told me this stock is soaring. catching twitter shares soaring this morning. later, tech rally. why amazon, apple and others are posting record highs more "squawk alley" after this at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. >>> welcome back the nasdaq coming off a record close. names like apple and amazon e leading the way, posting record-closing highs of their own. and twitter jumps in trade as it replaces monsanto in the s&p 500. brent bill, managing director of the jeffries internet team and our own cnbc commentator mike santoli. brent, why are these particular

of so far as the navy and national guard responded to a distress call and managed to rescue sixty eight of the people on board to measure is becoming an increasingly popular starting point for illegal boats heading across the mediterranean to southern europe and in a separate incident nine people including six children have died after their speed boat sank while crossing from turkey to the greek islands five people were rescued by this card and fisherman the head of the catholic church has called for dialogue in nicaragua where weeks of anti-government protests have left more than one hundred people dead at least fifty people have been killed this week alone in the demonstrations against president daniel ortega and propose changes to social security critics have accused the government of targeting protesters with a shoot to kill policy pope francis called for talks cheering sunday mass to we didn't work i joined my brother bishops of nicaragua in expressing sorrow for the serious violence carried out by armed groups to suppress social protests which of course the dead and wounded i pray for the victims and th

i know have a right and there are certain way when they're playing when brown and i have a board a new manager place the best another there's an. educated banana became a household name. known i get my dear greenish way or looking mean when you are out for cooking and to keep the man i am. glad i rarely generators away and keep the men and i am a. better religion treat a fair old man its ways to be refined and. eating habits really are to blame. in tricky to bananas ideal world every banana looks the same and tasted the same the company produced only one variety that call me chef and. tasty fruity and hearty but therefore exportable demand kept on growing. but it is not a mob to have the right conditions for the bahamas to her. it is also necessary to provide council free to the sisterhood or an open ocean. on the plantations weakened by intensive monoculture two veteran of the parasites were spreading panama disease and yellow sea. chiquita banana swain hips couldn't hide the reality the empire was rotting probably inside . samuel's a berry had tons of pesticide sprayed over the banana plants

management. by doing so boards help protect investors and enhance the company's v and performance. banks use a three lines of defense risk management model. the larger ones are adopting this model for cyber. e.y. considers this a best practice. increasingly regulators, investors and others want financial institutions to build cyber resiliency strategies int the three lines. another challenge is understanding and communicating about a cyber's program's efficacy. while nist and others have developed implementation guidance there have been by no means to evaluate and report on program effectiveness. this distinction is subtle, but significant. in response the american institute of cpa's recently developed the cyber risk management evaluation and reporting framework. this is voluntary and can provide stakeholders with reasonable assurance that the identification, mitigation and response controls are in place. no framework can guarantee against a breach, but the aicpa cyber risk model can offer an independent, validated understanding of a company's systems processes and controls. unfortu

issuing a response after an investment group disclosed a letter urging the company to engage in management and boardmes input from all shareholders and takes into account their views the company seays they have been active in board refreshment. they unveiled a letter to the allergan boardlier today in it, they discussed pushing allergan to divide the chairman and ceo roles which are currently held by presebrent sas and bring in at least two new directors among other changes, guys >> look at the stock and the stock popped around 10:30 or so but now is only up by about 0.5% does this have to do with sket schism surround appaloosa as an activist, formation of the board of allergan and the ability of some outside force to actually ange, because maybe is board is stacked or something like that. staggered, i should say. or is it skepticism about activism overall as a force for change >> i think if you read the analyst's notes, it appears the different recommendations that they are putting forth are things that will take a long time to really play out and generate an improvement in the stock price. it's al

. >> it is a wholesale indictment for the failures of the pg&e risk management practices across the board. i do not say that lightly. but the report indicates that eight out of the 12 fires all involved violations of state law dealing with tree trimming practices, the failure to maintain trees a sufficient distance so they do not pose a hazard. >> pg&e said this. the loss of life and businesses is simply heartbreaking and we remained focused on helping communities recover and rebuild. we look forward to the opportto look at the cal fire reports to understand untht perspectives of the agency's. based on the information that we have so far, we continue to believe that the programs met our standards. >> pg&e were not given on camera interview yesterday. it's destroyed the coffey park neighborhood in santa rosa. because of that fire is still undetermined. >>> pg&e will likely try to share the blame with local agencies and as emily turner explains, there are signs officials may have fallen short before and during the disaster. >> one of the places they will likely be looking for information is