also in the programme: shares in chinese telecoms equipment firm zte plunge nearly a0%. we'll cross to our asia business hub to find out why. in europe, the markets are fairly flat, treading water ahead of the expected rate rise from the us federal reserve. need some r&r? we'll meet the man behind an app helping take the stress out of finding a spa. today as accountancy firm pwc and one of its partners is fined millions for signing off on the accounts of failed retailer bhs, we want to know is it fair to fine individuals, as well as their firm? who should pay the price? let us know, use the hashtag bbcbizlive. hello and welcome to business live. jam—packed as ever, i think we have even got the floss today, stay with us, all will be revealed. a usjudge has cleared a mammoth deal between at&t and time warner, announced 18 months ago, this is likely to shake—up the global entertainment landscape. we're talking about the $85 billion marriage of the wireless and broadband giant and the media—entertainment conglomerate time warner, home to cnn and hbo's hit game of thrones. th

other telecom companies are negotiating with the city as well. the current plan is to roll out the small cells over over the next five years. >>> the county fair open today. festivities kicked off with a cattle drive in pleasanton this morning. you can see here. earlier we spoke with fair spokesperson angel more about some of the new activities you can expect this year. >> reporter: we have a new sky ride this year. it's a gondola just like a ski lift it will take you from one side of the fairgrounds all the way across the property. it gives you the best overall view of the fair but also the valley. >> the fair runs through july 8 at the alameda anti-fairgrounds. it will be open from 11 am until 11 pm. until 11 pm. >>> temperatures cooled down today. the last few days temperatures have plummeted quite a bit. we had temperatures inland that were in the 90s. we had a couple tripled digit heats in sacramento on tuesday. captures and since then have dropped off. these highs have dropped off today. temperatures will be right here tomorrow. maybe a l

in terms of the groups that are moving the most in today's session, we have telecoms. defensive trade today which telecoms and consumer stables, the two best performing groups, just slightly. in terms of the groups that are moving the most in today's session, we have telecoms. defensive trade today which telecoms and consumer stables, the two best performing groups, health care which is defensive or cyclical depending which subsector, also doing well. digging into it, if you look at the up just slightly. in terms of the groups that are ng the most in today's session, we have telecoms telec we're watching at&t and time-warner, both up slightly ahead of the big court decision due tomorrow on this -- almost two years after at&t first proposed buying time-warner for about $85.4 billion. we're going to learn whether the just -- whether federal judge is going to grant the justice department's request to block that antitrust grounds. some different possibilities of what the judge could ask the two parties to doget approval. those two stocks rising ahead of that big decision.

i'm talking about four or five telecoms who own the pipes.that's the problem. >> the defendants answered the question, liz they said it's in their interest and it is to actually push more information to that pipe and expand their customer base, not to limit them liz: i should make myself clearer. sorry forgive me. i'm sorry. hang on. hang on. sorry. forgive me. sorry. you have four companies or five companies dominating the pipes. >> instead of one company in my parents house they have a dsl account with a 500-kilo bit internet speed at $60 a month it's a joke. no country in the world is doing that no competition, there's one company, sergio marccioneize on, so that's a whole separate issue and the government unlike the phone systems where they require you to offer a rural service at a similar rate they let it go and say whatever we'll figure out a way to do a blimp internet that hasn't happened but in this particular case yes the content can be expensive because there are all these different providers paying a lot of money and sports fees th

as part of the bill, a bipartisan amendment to reinstate sanctions against chinese telecom giant z.t.e. passed as well. although many have probably not heard of z.t.e., americans of all stripes should be cheering this news, because in the views of many experts, if we allow z.t.e. into this country, china and its government will use our phones to spy on each of us, our companies with their great technology, and our military. that's why so many people are against z.t.e. being allowed into this country, and in my view the same would be true of huawei, the other big chinese telecom company. z.t.e., backed by china's government, has flouted u.s. sanctions and lied about it. the f.c.c., the f.b.i., and the pentagon have all issued stern warnings about the national risk posed by z.t.e.'s technology. allowing the sale of z.t.e. technology in the united states could allow china to spy on every american's private information, on american businesses, and even on our military. it's a security risk, and why is president trump, in a simple call with president xi, just legislate -- letting it continu

amendment which would prohibit the administration from weakening a sanctions against the chinese telecomsincluding zte. however, the president has rushed to undo the sanctions before that bill could pass, so it will not affect zte because the sanctions have just been lifted by the administration. now that the president has rushed to give this company release, we will offer a bipartisan amendment led by senator cotton and van hollen that retroactively composers sanctions originally leveled against zte. reversing the consent agreement signed this morning. this is a bipartisan bill. senator cotton and senator van hollen don't agree on much, but thank god when it comes to national security, they agree. this chamber should overwhelmingly vote for the cotton-van hollen amendment t which i'm proud to cosponsor as likely senator cornyn and others on the other side will do. we must do that. we hope leader mcconnell will allow a vote, or at minimum put in the managers package. we cannot move forward with this danger to national security without doing something about zte. there's also a provision in

we meet the former telecoms boss now battling to turn around south african airways. and on the markets, asian shares on the retreat, with investors focusing again on that widening rift between the us and its major trading partners. we start in quebec, canada, where the leaders of the group of 7 rich nations are gathered for a two day summit. the group is supposed to be about co—operation between members, france, germany, the uk, japan, italy, canada, and the us. but it's at its most divided in its four—decade history. in fact, it's more like the g6 on one side and the us on the other. president trump's america first policy has pitted the us against its allies. he has slapped steep tariffs on imported steel and aluminium, and threatened similar action on foreign cars. and he's pulled out of the nuclear deal with iran, jeopardizing billions of dollars of contracts for european firms. france's president macron has pleaded for unity, calling for the other six to unite and stand up to the us, saying this. "we must not fall apart." and he points out that together, the six

jason: part of what she did was britishatization of telecom, british steel, british airways.istory that is not too long ago that a lot of people have forgotten. >> when british telecom went public, when it became a public company, it was the proudest possession of britain, i share of british telecom. people were so proud back then to own a shared british telecom. that's how big a deal it was. that was a transformation in the way people thought. up until that point, britain had become very statist, very pessimistic about his future because none of these state-owned enterprises were doing anything that was successful. they were going to die eventually unless something else happened. and of course, big bang was the vehicle for unlocking the rebirth of british capitalism. -- andand economic unlocking so much economic growth. >> one of the things that she did simultaneously was she spearheaded this drive with private funding to build a theme known as the tunnel, train that connected france and britain. jason: that really connected britain to the continent in a new way. >> totally

people were so proud back then to own a share in british telecom. transformation in how people thought. that point hough people pr become very statist, very pessimistic about his future because none of these state-owned enterprises were doing anything that was successful. they were going to die eventually unless something else happened. and of course, big bang was the vehicle for unlocking the rebirth of british capitalism. carol: and really unlocking so much economic growth. you became a big performer in the eu region. >> one of the things that she did simultaneously was she spearheaded this drive with private funding to build a -- what became known as the tunnel, the train that connected france and britain. jason: that really connected britain to the continent in a new way. >> totally spectacular. that coincided with big bang. it was in 1986 when it was started. that train we all take for granted today actually was transformational. britain became or london were -- more particularly, became the destination of choice for people across europe. this

the fox, the mouse and the telecoms beast. the board of 21st century fox meets today to weigh up bids from comcast and disney. live from london, that's our top story on wednesday 20th june. 21st century fox is a towering force in entertainment, home to the simpsons, x—men and deadpool, and the multi—billion dollar battle to buy fox will shape the way we consumer our media. we consume our media. also in the programme. turbluence for air india as the government ditches plans to sell off its flag carrier. what now for the loss—making airline? the markets are starting in remarkably good heart. you would not have thought that a few hours ago because the asian markets are on the way down but now they are on the way up. the globetrotting business has changed dramatically over the years. today, it's all about personal experiences and social media! we're talking to a firm whose founders went backpacking for fun and ended up founding one of the world's biggest adventure travel firms. and should smartphones be banned from schools? one uk

lawmakers are pushing back on president trump's attempt to save chinese telecom maker zte. they passed a bill to restore penalties, cutting off its access to the components it needs to build smartphones. senator chris van hollen spoke with bloomberg television earlier to explain why lawmakers moved to pass what could be a death sentence for this company. zte graham: van hollen poses a national security threat to the united states through their telecommunications network. on top of that, zte violated u.s. sanctions multiple times, so therecover it up, is no reason to let them off the hook. emily: joining us from new york, selina wang, who has been following the saga. does this mean these penalties will indeed be reversed? selina: the senate passed a bill that would reinstate the ban. this complicates the earlier agreement trump had made to ease sanctions as long as it paid a hefty fine and rearranged some management structure. this does not necessarily mean the ban is going to be reversed. this has to be passed through the house. any compromise has to be agreed upon by the h

david: another big topic is chinese telecoms. allowingare concerns americans to use their risk togy may pose a security? we have to make sure our networks are secure. as you know, one of the things that i was hot on during my chairmanship was the cyber security of our networks. a process that is now pretty much gutted. what i found to be shocking was that the republicans on the say the fcc has no jurisdiction over cyber, which is why they are not following through on the cyber things we did. cyber protections. the turn around and say, we have to do this. is of the interesting things there is a lot of talk about 5g. during our term, we were the first country in the world to make spectrum available for 5g. decision, wethat standard would have to cyber security protection. we would have a telecom standard that saw cyber security as aforethought rather than afterthought. started a notice of inquiry. they with true that. withdrew that. they said, that is not going to be a requirement. i don't see how that mrs. with issues. we need to

botha battling to turn around south african airways. —— telecoms boss.welcome to the programme, briefing you on all you need to know in global news, business and sport. and you can be part of the conversation. tell us what you think. just use the #bbcthebriefing. the us secretary of state says he's received a personal assurance from kim jong—un that north korea is prepared to denuclearise, and that the two countries are closer to agreeing what they mean by that. mike pompeo told reporters that donald trump is approaching next week's summit with north korea in a hopeful mood, but also with his eyes wide open. our north america correspondent, peter bowes, reports. the summit is almost certainly on, but the strategies of the two nations are farfrom but the strategies of the two nations are far from clear. the but the strategies of the two nations are farfrom clear. the us wa nts nations are farfrom clear. the us wants north korea to give up its nuclear weapons, but there's been no public indication that denuclearise asian is on the agenda with kim jong—un.

they still rely on united states chipmakers for key parts of their telecom equipment. but at the end of the day, the whole process is really providing more impetus for xi jinping to achieve his made in china 2025 goal, which is at the center of the concerns of u.s. lawmakers. they don't want china to be technologically independent, don't want china to be able to steal ip from the united states. but the saga of zte is telling china they need to be able to figure out how to create this domestically in their country so they are not tied and beholden to the u.s. parts. emily: selina wang in new york, thank you for that update. i want to bring in senator mike rounds of south dakota. he currently sits on the senate armed service committee. he was previously a governor of south dakota. senator, welcome to "bloomberg technology." do you think president trump has started a trade war? or would you call it a trade dispute as peter navarro calls it? sen. rounds: right now it is a dispute, but nonetheless impacting markets. south dakota is looking at significant impacts to soybean

internet providers as well as telecom companies from sweden india germany and italy here in the u.s. facilities were found in atlanta chicago dallas los angeles san francisco seattle washington d.c. and of course new york city built in one nine hundred sixty four this building was new york city's first major telecommunication fortress located on ten thousand new and hell's kitchen the facility is constructed out of concrete and granite the building is one hundred thirty four meters tall with twenty one floors with not a single window in its walls built to withstand a nuclear blast and according to the report the tenth avenue location is one of the eight apparent hubs that process internet traffic as a part of the n.s.a. surveillance program code named fairview the intercept interviewed several former a.t.t. employees who confirmed the locations of eight period sites used by the n.s.a. two former employees confirmed that the site was one of eight primary eighteen tea service node routing complexes in the u.s. and they say documents detailing tapping into flows of data at all eight of

don't compare this with deals to other telecom companies.outh korean government doesn't control samsung the way china uses huawei. what is more concerning about the fact that these are chinese telecom companies that are already under scrutiny by the u.s. government? mr. walden: right. and i think that's the heart of the matter here, specifically. it is really twofold. one is the alleged past practices or current practices of some of these companies is troubling. that's why there are these discussions in national security settings. but beyond that, it is wouldn't -- why wouldn't you tell us? it's a pretty big question, but a pretty easy question. why wouldn't you fully disclose? you should. they should have. this gets back to why i think silicon valley would be well served by the ceo's, other than when they are in a crisis situation like facebook is now, to come and share with us in congress what their strategies are, what their agreements are, what their recommendations are. it is why i've invited them to do that before my committee, and so

. >>> on the "cbs moneywat aserea genealogy site, and reviving a chinese telecom company.hall is at the new york stock exchange with that and much more. good morning, diane. >> good morning, hena. well, china's number two telecom communications equipment company has signed a preliminary agreement to lift a commerce band. they banned zte from buying from american suppliers. the company ceased operations aftethe seven-year ban was proposed in april. zte was punished by the u.s. after it was caught illegally shipping goods to iran and north korea. they reportedly received a $1 million fine. mexico said it is imposing its own tariffs on american products ranging from steel to pork and bourbon. the move complicates efforts to renegotiate the north korea american free trade agreement. >>> here on wall street the stocks finished mostly higher. weeks of up-and-down trading much of it leaning to tension gave way to smaller moves. the dow fell 13 points. the s&p 500 added nearly 2 points. the nasdaq rose 31 points. >>> the u.s. labor market has hit a tipping point that might help bo

works closely with one of the world's biggest telecoms companies eighty n.c.to tap into people's internet communications and the report identifies eight heavily secured eighteen t. buildings in major u.s. cities which function as hubs for an n.s.a. surveillance operation code named fairview fairview gives the n.s.a. direct access to rule dates of passing through the facilities which includes e-mails browsing data and other online activity and remember it was n.s.a. whistleblower edward snowden who revealed most of what we know about the agency's operations back in two thousand and thirteen snowden called the intercept report the most important surveillance story you will see for years and it's not just a t.n.t. as customers in the u.s. affected by this is it far from it according to the report eighteen c. processing centers also allow the n.s.a. access to traffic from eighteen t.'s partner companies who use their infrastructure for efficiency reasons including overseas palm such as door to telecom india's tata communications and telecom italia a spokesperson f

whether they consider it is and anonymity that would ban chinese telecom companies and it would also ensure the penalties that were initially put in place would remain in place. see will be interesting to what the rules committee and the doing. , how do youcerns think democrats will vote? >> like we spoke about earlier with the budget agreement come that has given them a lot of what they wanted and this year's i'm sure there will be some democratic by end. there will be some no votes. i would not expect this would pass. kelly covers defense issues. .e is also on twitter thanks for the update. washington journal live every day with news and policy issues that impact you. leahg up wednesday, reviews the results of tuesday's primary. congressman onn immigration policy. ted hassan discusses the supreme court decision to uphold president trump's travel ban. c-span'so watch washington journal live on seven eastern -- some talk eastern. here's a look at what is live wednesday. the house is back at 10:00 a.m. eastern. on c-span2, the senate continues debate on the bill and on c-span3, housin

getting a deal with zte, a telecom provider. it hit the telecom giant with a $1 billion plus penalty and strict oversight with officials embedded at zte in exchange for ending sanctions against it. zte can buy components from u.s. smartphone parts suppliers. those stocks rallying on the news. look at that. semiconductors, qualcomm and more. let's get back to dan. president trump has had trade victory so far, if he hasn't acted, the u.s. wouldn't have gone the a trade deal with south korea over u.s. cars and trucks. and now china zte. so it looks like he is making progress there. >> does look like some progress, though i think you have to look at it indirectly especially zte deal. i think the main thing was the initial action to basically shut down zte for several weeks. because the agreement, i don't think, the idea that we're going to have chinese-speaking agents inside the company reporting back to commerce secretary wilbur ross. i just don't think that's going to have much teeth. but that did a lot of damage to zte. they lost

tim corbin joining us there with the latest on the telecom industry.as to-- immigrants looking to start new businesses. this amid reports that they are being derr by brex. issa -- eef half the industry remains concerned about their access to skills post-brexit. joining us now is stephen visser , ceo of eef. let's start with these reports coming out that they're going to promise a new u.k. visa to immigrants starting to start new businesses. they want to continue to attract tech entrepreneurs. i guess he was a that is a good thing. other other parts of industry would like these visas? >> in mentoring -- manufacturing,ha s a real drying up of the amount of people willing to come to the u.k. with the uncertaintyrobrext other ways of encouraging those people into our sector are very important. anna: give us numbers around that concern. business about access to talents? >> number one on every survey is about skills. we are sure on talent. -- short on talent. plugging the gap, in the middle of that, has been the focus. nationals have been filling that gap fo

"usa today" reports congress ans the white house arhee headading a showdown over chinese telecom zte.he senate approved a defense bill yesterday that would block a trump administration deal with the telecom giant. president trump wants to lift a crippling ban on the company. it was retaliation for violations of u.s. sanctions against exporting to iran and north korea. mr. trump wants to impose a penalty on zte instead. >>> the "washington post" reports a former cia employee has been charged in a major leak of agency-hacking tools. joshua adam schult was charged with crimes last year related to tools the agency used for spy operations overseas. the charges carry combined maximum prison sentences of 130 years. he has also been detained on the child pornography charges. >>> and the "miami herald" reports xxxtentacion, a rapper, was shot dead outside a south florida motorcycle shop. the underground rapper was an ap v a rob e 20-year-old was killed as he sat behind the wheel of his exotic sports car. police say he was approached by two armed suspects. at least one of them fired. so far no

the president has wanted to reopen the chinese telecom company zte and allow them to continue buying component parts from the united states. that company had been slapped with restrictions because of concerns that there was a national security violation that they were selling some of those parts to basically foes of the united states, north korea, iran. the president has been concerned about that and wanted to allow that company to continue because it was an enormous hit to this giant telecom company, potentially putting them out of business. republican senators said no. they said president trump has gone too far in unilaterally deciding that this company can engage in purchasing these u.s. parts. so the senators tried to rein that in by slapping a provision saying that it needs to come forward to the congress for review. a stronger version that would have actually set up a vote didn't happen, but they did put some brakes on that and now it's up to the house to decide as they merge these two defense bills. >> if that's the case, tell us the mood of the house right now to make those d

imagine media and telecom stocks rose for more merger activity in the sector and wasn't enough to lift the broader market under pressurefter the feder reserve rates interest rates. so when all said and done, the dow jones fell 119 points. 25,201. the nasdaq which set a newigh was down 8 and the s&p 500 dropd 11. >> oil prices turned higher today as supplies fell more than expected. a government report pointed to a bigger than expectedecline in domestic crude supplies. it was, in fact, the largest one week decline since march but oil praie were capped after a separate report fnem the ey information administration showed an increase in crude production. we had conflicting reports there todayut domestic crude rose to at moreek high settling than $66 a barrel. >>> the white house trying to ock congress from derailing its deal with china's zte. e agreement allows china's second largest telecom company to rume doi business with american suppliers. but it is evident that the mpany is still reeling from the temporary ban on the supply of crucial parts. eunice yoon is i beijing. >> reporter: zt

to the down side, telecoms some of that is repercussis on the back of the huge at&t/time warner deal being approved in the u.s. some of the names like sky are trading down about 1.5%. telecom italia is also tradingwn retail is struggling a bit today is a big day in the u.s., and the u.s. dollar is firmer ahead of the federal reserve policy decision, which could give clues on the pace of future rate hikes at the central bank the fed is widely expected to announce a quarter point raise when it wraps up its meeting later today, making it the second hike so far this year investors will also be looking for signals on how many more we can expect in 2018 the central bank will release its dot plot right now the chart shows three his this year, but even a slight move could signal an additional one in december fed officials speaking with cnbc recently all threw their support behind gradual rate increases. >> we should be raising ratewe . we should dot gradually. i'm not prepared to say, yeah, i want to go above neutral once we get there, we'll have to make that judgment at that time whether it

works closely with one of the world's biggest telecoms companies eighty insee to tap into people's internet communications the report identifies eight heavily secured eighteen c. buildings in major u.s. cities which function as hubs for an n.s.a. surveillance operation code named fairview fairview gives the n.s.a. direct access to rule data passing through the facilities which includes e-mails browsing data and other online activity and remember it was n.s.a. whistleblower edward snowden who revealed most of what we know about the agency's operations back in two thousand and thirteen snowden called the intercept report the most important surveillance story you will see for years and it's not just a t.n.t. its customers in the u.s. affected by this is it far from it according to the report eighteen c. processing centers also allow the n.s.a. access to traffic from a partner companies who use their infrastructure for efficiency reasons including overseas partners such as deutsche telekom india's tata communications and telecom italia a spokesperson for the n.s.a. told the intercept it could n

country -- telecom continueo allow them buying component parts from the united states.that company had been slapped with restrictions because of the concern that there was a national security concern that foeswere selling parts to of the united states. north korea or iran. the president was concerned and wanted to allow the company to continue because it was an enormous hit to this company. potentially putting them out of his this. republican senator said no. they said that trump had gone too far in unilaterally deciding that this company can engage in purchasing u.s. parts. senators tried to rein that in. by slapping a provision in the defense bill that says that if the president is going to make the case that he wants to do this for national security grounds, it needs to come forward to congress. for review. and a stronger version that would have set up didn't actually happen but they did put rakes on that and now it is up to the house to decide how to resolve the issue. is the case, tells about the house right now, the differences between democrats and republicans? u

want to introduce you to drew peterson, ceo of a company called american cable association -- of tds telecom. we provide broadband, about 100,000 to 200,000 customers, predominantly rural areas are our focus. density is about six miles. we have some very attractive suburban areas around the utah,y, like st. george, new mexico, and we are headquartered in madison, wisconsin. madison,the suburbs of suburbs of nashville, tennessee, places in georgia, and some of the extremely rural areas, like the bottom of the grand canyon. it is really a portfolio, where our view is broadband is our premier product, and that is what we deliver in all of the places that we serve. host: so when you talk about attractive areas, like the suburbs, are you talking about profitability? andrew: i think we are talking about a market area where we can make a difference. tds is the seventh largest wireline provider in the united , so it is a disparity between our corporate partners, like at&t and verizon. it is quite large. we make significant and it to more to make suburban areas, and we win on price, value, and good c

telecom, health care helped it along.es industrial average, general electric. that has been a loser this week. caterpillar, boeing, exxon, among other laggard with oil selling off two bucks. saudi arabia and russia may be pumping it out. back to you. liz: thank you very much opec a big story as oil tanks in the after-market. the dow was looking to make a comeback. i think we were down 44 points. we're falling down 100 points. had been down 280. what is it? growing tariff tensions? expirations of whole bunch quadruple and triple witching? let's bring the chief executive officer of independent alliance, two billion in management. will there be a hangover from the tariff war because china is calling it a war now? >> tariffs are weighing on the market. we need to look beyond that. i think it's a negotiating tactic. we'll look negotiating between the u.s. and china and there is market volatility. if things inspired out of control they could always walk it back. i don't think the president wants to take the economy into recessi

telecom fund.s fascinating is you're going to have perceived buyers and sellers in either one of these, but we are getting the shift. i keep talking about s&p will reshuffle the sectors and there will be a communications services sector unveiled the stocks that are going in are going to be named july 2nd, so that's coming up in a couple weeks. and what you're essentially going to see is internet companies joining telecom in a new communicationservice basket that's g to look a little more silar to i think what we now are coming to think of as media. >> that's kind of like regulators is trying to keep up with tech. >> exactly the net effect the market will look less tech heavy even though it will have the same stocks we're trying to redefine these things as we go. >> happens fast. >> thanks, mike. >> all right over to jon fortt and a look at what's coming up on "squawk alley. jon? >> we got a lot more on this blockbuster approval by the judge of the tie up between at&t and time warner including the i

it shows the telecom 500 underperforming in the broader market.its lowestfell level since 2001 which means tech stocks are starting to dominate the s&p 500 just as they did during the lead up to the bubble burst. there is the peak. we're looking at the s&p backing out versus telecom. there is a peak in early 2000. thanks to jim for putting together this chart. says it is pretty eye catching. joe: it is a cool way to look at it, flipping upside down. different perspective. speaking of tech, obviously, a lot of interest in those stocks but a big story in recent days has been about the sub level. a lot of tech stocks that you haven't even heard of. here is a look at recent tech ipo's. maybe you have heard of them. these are all household names, right? people are charging into anything tech, anything fresh, anything that hasn't been rallied yet, looking for a tech winner. if it is tech, it is rallying, a big thing for something to rely on. >> looking at the gains, it is not the king of the sector. can see the valuations. big like disney and comcast, t

the trump administration reaching an agreement with chinese telecom giant zte.er, which was once called a security threat to the united states, is now has to pay a $1 billion fine. and cnn's christine romans is joining me to talk about this. what all is in this deal, christine? and why is it so controversial? >> reporter: so the deal is to keep the chinese state-controlled zte in business. it was reached just hours ago between china and the u.s. with a big fine and american supervision. a billion dollar fine, $400 million in an escrow account as a deterrent and an entirely new board of directors and new management within 30 days. and then this, something i have never seen before, an american chosen compliance team embedded in the chinese company. the commerce secretary is hailing this as the first time a major foreign company will have on the ground oversight to make sure it stays in compliance with u.s. export control rules and doesn't cheat. so why does it need a baby-sitter? well, brianna, zte violated u.s. sanctions, sold products to iran and north korea, go

telecom and ethiopian airlines have been critical sources of foreign exchange and funds for development in ethiopia helping to sustain an annualized growth of ten percent over the past decade the government seems eager to increase returns by selling shares in the company's prime minister met announce these sales on the same day he withdrew from the seized area eritrea territory effectively implementing a peace agreement with the neighbor from the year two thousand south africa's telecom giant m.t.m. was quick to express interest in the new opportunities calling ethiopia a natural fit for mt m's existing pan african footprint their competitors at voter com of south africa also made an overture complimenting ethiopia as an attractive market. and morocco is in the second month of a growing boycott campaign by consumers upset about high prices and at dominant water gasoline and dairy products made by francis dad and company the campaign campaign began on april twentieth and the first boycott targets were at a gasoline station chain owned by the moroccan agricultural minister who was morocco

which -- telecom which involves a number of laboratories, pacific northwest lab and others to implement some innovative new technology for democratizing their telecommunications grid and really bringing it back. so i think this has been a great example of how that partnership, that the only me bus -- omni bus talks about between the universities and national laboratories can help to have an impact in real time on these kinds of situations. >> chairman, if i may, might i address the congressman's question? >> go ahead. he needs all of the help he can get. >> congressman, there are some very specific items that we are working with the labs on putting into puerto rico that are cutting edge that we're basically looking to accelerate the commercialization of them and, therefore, utilization of them, and so things which is the use of the black fiber, the optical ground wire, which is on their transmission system is one idea. and using correlation through this high fidelity sensing capability to enable opt mages of their -- opt mages of their grid is another that will be used with the developm

in the age, we moved on to the telecom crash at the end of 2001.nd the world is beginning to reshape. at the time, everyone had their eye off the ball in terms of what was happening in cyber domain. there was so much going on around us from the.com crash to the towers coming down to the telecom crash and moving into the great recession that if you went to a bank in 2008 or 2009 who was losing half $1 billion of -- to cybercrime and said, if i use this capability we can understand exactly how the adversary is targeting you and build countermeasure protocols, we can not $100 million off of your system. the response would be, i wrote off $10 billion last week in bad mortgages. it pales in comparison. everyone is focused on the things going around, the economic collapse and everything happening geopolitically. the cyber domain was ripe for the picking and people were driving a truck through it. from foreign nations stilling intellectual property, criminals stealing money, adversaries hacking and injecting their ideology through cyber campaigns, we were

some bali's homeland kenya apps have already helped to tackle some local issues a few years ago the telecoms company introduced a digital payment system enabling people without bank accounts to conduct transactions this out and spied other similar projects such as a little cap a taxi service not unlike in berlin us female customers can explicitly request a woman at the wheel which hasn't turned also help to boost the number of female drivers. it's the best option. it just sitting at home asking for handouts i mean. anyone eggplant absalom me. and farmers enough to buy that for small holders whose life is made difficult by failed harvests and unstable market prices and farm gives them advice and information about the weather or current prices. i went to and look at the cards for. the maze and by september will have. to be a real time for maison at the markets on the prizes and be like them or not only doing maze them so assisted me to calculate the time for they have east of the maze they have also features an online marketplace where farmers can sell their goods directly to avoid expensive i

made a deal to let chinese telecom in a fracture his resume their purchases from american suppliers.pril, they were blocked. they were said to have violated sanctions on north korea and iran. they thought then that the index nxp deal would get blocked. , as soon as we heard of the zte deal, china is likely to approve the nxp qualcomm deal soon. a bit of a quid pro quo seems to be happening. suppliers in the u.s. falling back today. of 18% of the revenue from nxp -- we have a graph that shows that. zte's rivals in device making are not doing so well. it seems like zte is back in business. vonnie: that is our stock of the hour. mark: time for the bloomberg business flash. biggesticial -- the farm chemicals maker in the world. they closed their acquisition of monsanto. integration will begin in bayeronths after the completes the sale of agricultural units. -- americanropean tech giant to get a large foothold in european soccer -- amazon will show 20 matches a season for three years starting in 2019. the games will be available on amazon prime. . lufthansa having a record summer -- a rec

tonight on "the communicators" come american cable association president and ceo matthew polka and telecom senior vice president, andrew peterson talk about issues facing broadband providers you can watch "the communicators" tonight starting at eight -- 8:00 eastern here on c-span2. [inaudible conversations] [inaudible conversations] [inaudible conversations] >> all right. welcome come everyone here thinks are coming here today. and the director of the technology national security program you're at the center for new american security.

the lift curbs on zte, the telecom giant from china. many saying this isa giant from china.ying this is a company the us was dealing with and now it is changing its mind and using it as a poll in the trade war with china. is it that affect accusation? i mean, what is going on? we have the g7 meeting where we haven't donald trump causing an uproar with his allies on trade and using words like national security as the reasons why he will impose ta riffs as the reasons why he will impose tariffs and then we have a company in china, the second largest makers of phones, accused of corporate espionage and they brought in these measures and pay $1.1; billion donald trump and lift the sanctions. 0r measures and pay $1.1; billion donald trump and lift the sanctions. or are members of the republican party who are upset and irritated by this. —— there. alienating allies. but they have a very different approach to china, reconsider the. they going to be making sure the right complaints people and bedded within zte. be making sure the right complaints people and bedded within zt e. will