Transcripts For FBC Mornings With Maria Bartiromo 20240714

Good morning, everybody, big show this morning, joining the conversation capitalist founder jonathan honan is here, benchmark managing partner kevin kelly, great to see everybody. Thank you. Maria breaking news of the morning, Uk Supreme Court delivering blow to Prime Minister Boris Johnson, Supreme Court ruling suspending parliament was unlawful, thats opening the door to more pushback on his plans to take britain out of the European Union, your reaction, kevin. Yeah, this is fascinating, he was actually going for a Nodeal Brexit by october 31st because the European Union hasnt really been working with the uk on trying to leave, they have been in stalemate for a long time, he has actually informed the queen of this, of his plans and she didnt push back on him and so now its going to be hard to see, i mean, it took them a long time to get article 50 done where they deliver to the European Union that they. Going to leave, you know what, october 31st looks like the deadline, theyre not going to meet a Nodeal Brexit. Maria you wonder what it means for markets. Definitely, when you look at Boris Johnson, if we follow the rules nothing is ever going to change and nothing will happen, this is something that will not bow to pressure to resign over this, i think he will keep pushing forward. I think the markets will look at that and think its a positive sign even though theres a little bit of, you know, kind of a missed opportunity, the ability to exercise and lead European Union and perhaps trading block hasnt been realized look at ewu, it was below 1890s, the pound has been decimated, thomas cook also went bankrupt this week. Maria so far not a major move in terms of european market, theres the british pound, we will be watching for developments as the breaking news take effect, u. S. Markets have been strong pretty much throughout the morning, top story in new york, President Trump speaking before the Un General Assembly today in new york city, expected to make a case for pressure to keep on pressure on iran as he blast impeachment for phone call with leader of ukraine, fox news Garrett Tenney, good morning to you. Good morning, fox news has learned that the whistle blower who filed the complaint over the phone call did not have firsthand knowledge of it. A source familiar with the situation tells us in the complaint its made clear that the whistleblower was not on the phone call and that the concerns are based on secondhand information, the individual learned after the fact. One of the democrats big concerns is that ahead of the july phone call the white house put a hold on 250 million in military aid to ukraine and that the president may have used that aid to try and pressure ukraine to investigate the son of former Vice President joe biden, at the United Nations monday President Trump denied there was any quid pro quo and argued this is just the latest witch hunt by the democrats. Did you tell the ukrainian leader that they would have the aid only if they investigated joe biden and his family . No, i didnt, i no i didnt. I didnt make a statement you have to do this or im not going to give you aid. Everybody knows it, its just a democrat witch hunt, here we go again. They failed with russia, they failed with recession, they failed with everything and now they are bringing this up. Democrats are demanding access to the whistleblower complaint and to hear directly from the person who filed it but so far the administration is refusing to turn over a copy of the complaint and that is prompting a fresh wave of democratic lawmakers who were on the fence of impeachment to come out in support of it. In the washington oped 7 freshmen democrat come from swing districts if President Trump he should be impeached. How long must we wait for our republican colleagues to rise up to their responsibilities to the constitution to separation of powers into rule of law when President Trump braisingly violates that law. All of this most certainly come up on thursday when National Intelligence is scheduled to testify on capitol hill this afternoon, though, fox news has learned the House Democratic caucus will meet to discuss the ukraine phone call and impeachment and condemn President Trump over that phone call, maria. Maria garrett, thank you very much, Garrett Tenney in washington, then theres china trade that you want to talk about as well, china is exempting Certain Companies that import u. S. Soybeans according to bloomberg, we knew this was coming after secretary Steven Mnuchin took by surprise talking about the canceled u. S. Farm visit, watch. That was our request to delay that. They are going to reschedule that at a different time. But that was that was our request. Why was that our request . We didnt want confusion yeah, but i want them to buy farm products. There was no confusion they commit today buy agriculture. Maria yeah, we reported on this program and sunday morning futures that the u. S. Had asked china not to go to the farms for this reason, your reaction. Its frustrating no more than the farmers themselves, the president has been great advocate for farmers, we talked encouraging to buy exports, 20172018 exports have fallen about 50 so the president is doing duty to remedy some of the harm from the trade war and harming farmers and we see it time and time again even with some of the efforts, however, towards resolving trade conflict. Maria i dont see china lessening up because china needs our pork badly, they have 250 million dead pigs in china right now because of the swine flu, i mean, that to me is not a major effort and yet it does appear that theyre talking, things are happening. I think the whole idea that china is using this as weapon to hit President Trump, their whole plan is to wait out the presidency, whether itll be for another year, itll be 4 years after that, theres not going to be any conciliatory tone stealing intellectual property. Maria thats right. This doesnt move the needle in that regard, taking supply chains especially for semiconductor and making localize, pull get away from u. S. Intellectual property because theres the entity list, this is more par for the course where they will deflect, delay, they say they are coming over, they dont, we have seen this time and time again. Maria i agree with that, thats spot on, jackie, theres real big ticket issues, the theft of intellectual property and even the fentanyl coming into the country. Hard ones to come to some sort of an agreement but even a partial deal, the small steps that have been made are positive and the fact that two sides are talking even if the farm was delayed, higherlevel officials coming in october and i think something will get done. Maria looks like both sides want a deal and we will see what the chinese are able to accept. They reneged back in april. Japan foreign minister saying that his country has fully agreed on all trade talks with the u. S. After worries that a deal may have hit a snag over u. S. Tariffs on chinese autos, the president has been clear on this, kevin, he wants a deal with japan, we dont know what this looks like in terms of tariffs on autos, the president is not wanting to forget on tariffs on at auto. Its em pertive for japan to have a deal with us especially on National Security concerns because if we go back to north korean situation as well, the problem is that china is in every affair and trying to basically attack us on all sides whether its soybeans, whether its north korea, you name it, intellectual property. I think the japan situation, they never fought us on the initial tariffs, if you look at it, they bited their tongue and negotiated with the president. We dont want a sunset provision that President Trump could put tariffs back in place even the threat of tariffs and a lot of analysts are saying perhaps the u. S. Would have been better staying in the tpp and doesnt look better than the final trade definitely a view on wall street on tpp and the more the president does deals with other nations, hes done south korea, japan is eminent, i dont know what else is in the cards, he has to do as many deals as possible in the region. Especially for supply chains, listen, we know that if we start to hit tariffs on consumer goods itll hit the American Consumer hard, thats the 300 billion, you name it, we avoided the back to School Shopping season getting hit with that, he needs to make the deals u. S. Companies can revamp supply chain. Maria especially going to holiday. We are only just beginning this morning, joining the conversation colombian president evan duq, e on venezuela wella, analyst is here on President Trumps un speech, former senior advise the other clintons and managing partner mark pen on the ukraine call controversy and Energy Secretary rick perry is here joining former citigroup sandi to talk advancing ai in biomedicine, all that coming up this morning, coming gm strike is now entering day 9, the automaker now furloughing workers, we have all the details coming up. Gaming with google, the tech Company Going up against apple with new subscription Gaming Service, we will be back after the break. Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. 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Cheryl european top court says google doesnt have to extend the eus right to Search Engines globally, people have right to control when their name is searched online, google has been fight to go apply eu principle around the world, victory for google and free speech advocates, well, theres fallout from uaw strike to General Motors. 1200 employees have been temporarily layed off from engine plants in ohio and canada as walkouts, week number 2, folks, on top of 2,000 workers like last week at Gm Assembly Plant in canada, talks are set to resume today, 46,000 workers on strike and shutdown operations of more than 0 u. S. Factories, onemonth chart of gm, the stock, of course, has hs been reacting to this news, then theres this for dow component, boeing working to get grounded 737 max back in the air, faa says each country will make its own decision and faa previously said safe but following crash and the faa approval process has come under scrutiny by people around the world. Meanwhile boeing will start distributing money, each families 44,050 from the 50 milliondollar Financial Assistance fund, maria, those are your headlines this morning especially on boeing, big news. Maria all right, cheryl, short break, juul pressure, feds launching federal probe. New tariff exemptions allowing Bigtech Companies to build companies here in america, all that next. Managing lipids like very high triglycerides, can be tough. You diet. Exercise. But if youre also taking fish oil supplements, you should know, they are not fdaapproved, they may have saturated fat and may even raise bad cholesterol. To treat very high triglycerides, discover the science of prescription vascepa. Proven in multiple clinical trials, vascepa, along with diet, is the only prescription epa treatment, approved by the fda to lower very high triglycerides by 33 , without raising bad cholesterol. Look. Its clear. Theres only one prescription epa vascepa. Vascepa is not right for everyone. 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You know, weve seen revisions down of the 113 or 15 or so companies that actually do put guidance, 82 have revised down and analysts have revised down, if we see upticks from that i think the market will do well. Maria i dont know, are we going to see upticks, one of guests said they would be down but things pick up in the Fourth Quarter, is that what youre expecting . No i would like to see uptick and the Fourth Quarter will be interesting, we have interesting things happening and we have disconbobulation. Instead of trading 16 and a half earnings, 18 and a half 20 times earnings and is that sustainable in environment where cost of goods are going up due to the fact that one labor is going up, inflation is still rising, you also have cost of goods sold going up, we have the tariff situation happening, so that environment where you want to pay for earnings, i dont think so and i think thats why youve seen defensive sectors do well including Consumer Staples, utility, if you look at the market leadership yesterday. Value is back in play, a lot of those names and big huge turnover into value stocks as well. By the way, kevin has the number one and number 2 best performing funds in category in real estate, youre up 42 and 38 , kevin. Just proves in market that you want to be selective, want to be in areas and distribution centers, the growth of ecommerce as well as cell phone towers and data centers because we are using that, we dont want to be in office buildings, look at wework, you need to pick and choose in the market, im curious where you want to position yourself in the market with first of all, theres really no place globally to go except the u. S. Markets, i mean, thats why i think that sometimes you have to look away from here to emerging markets because youre not seeing the same kind of debt that they have compared to the duty and some more mature markets but its a discount to the s p growth that we are seeing here. Maria big rally in india the other day as they cut taxes. Im wondering what you think about recession talk, i feel like people have backed that off a little bit, taking a waitandsee approach and combined with the point that you made about earnings, if earnings were flat for the next quarter, would the markets would say thats good enough in this current environment . The repo markets is what concerns me, we saw giant spike after the fed actually said we are going to take rates down, the repo markets exploded and that had a lot to do with disconbobulation, we had a huge issuance of u. S. Debt which was a big thing as well and then youve got Corporate Taxes and there was a lot of reasons why that could have happened but it was a giant disconbobulation because the fed talks about giving liquidity to those markets on an ongoing basis which kind of looks like qe but they are calling something more organic. Maria interesting that Consumer Staples has been weak spot in the market and yet jonathan the consume certify pretty strong. Whether macys, even retail and hasnt been exact an even keel when it comes to stocks, moving forward, you mentioned repo market one of them, parts of the yield curve are still inverted and i dont want to get too much in the weeds, historically that tends to manifest in recession not immediately but 20 months out, should investors still be concerned that the recession that the yield curve is forecasting it might not be here but its coming . I think this is the most anticipated recession of all time. Telling you when a recession is coming, that kind of thing leads you to believe that maybe this time is different, such a a refrain on wall street. The bond market doesnt lie, there will be a pullback that we have been anticipated but i think we see the markets at alltime high, s p at alltime high and taking down rates to induce investment so that concerns me. Maria you want to own stocks right now . Io always do stock but i always do. Maria do you want to lessen . We are moving to value plays, stocks that have been overlooked, we are always in dividend companies, health care things like that that are on the move. Maria thank you daniel hughes, Divine Capital. The Trump Administration reportedly ending catch and release as soon as next week, colombian president evan duque weighing here onset, apple at home new tariff retrieve allows the Technology Giant to build mac book pros in the United States. Back in a minute. dramatic orchestra performance comes in lots of flavors. Theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. Liberty mutual customizes your Car Insurance, hmm. Exactly. So you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty my body is truly powerful. 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On the east coast, optimism on wall street this morning, markets are higher, off of the highs of the morning, futures indicating gain at start of trading on Dow Jones Industrial average, nasdaq up 24, this after markets finished with little change yesterday, dow industrials up 14 and s p and the nasdaq were negative fractionally, in europe this morning setback for british Prime Minister Boris Johnson, the top court in the uk ruling against him saying his move to suspend parliament was actually illegal, breaking news out of germany this morning as well, prosecutors filing suit against volkswagen ceo and others tie today emission scandal with market manipulation, according to dow jones this morning as you see ftse 100 down 7 and a half and cac quarante is up 13, in asia overnight gains across the board, fractional moves nonetheless in positive territory, all the stories coming up Tuesday Morning in half an hour, deputy of the Homeland Security ending catch and release policies next week, secretary mac aleena, in the department will no longer go to Border Patrol facilities into the u. S. Population while they await court hearings, families that claim asylum will be brought to mexico and others sent back to country of origin, joining me right now the president of colombia evan duque, mr. President , great to have you on the program. Thank you so much, pleasure to be here. Maria have you seen impact on borders in america . Not really, when we evaluate the migration policies throughout the hemisphere, each country has own policy and faces its own characteristics and in our case as we well know we have had migration shock from the venezuelan border, 1. 4 million venezuelans that have left because of the dictateorship and we have been able to treat them well, but when you have such a migration shock its hurtful. I think each country has the right and the instruments to face each of the migration policies. Maria let me ask about venezuela, u. S. Allies to pressure vens president nicolas maduro, youre seeking sanctions on venezuela to protect the whole region, tell me about that, what do you want to see done . Let me call things by name, maduro is response certifying terrorists, thats come payable from what we saw in the 2000s and terrorist regime supporting alqaeda. The way he has brutalized his people is compared to what we call things by the name. We have to protect our borders. Recipal assistance that was voted yesterday was a way in which countries recognized all the things that mad intro is maduro is doing to colombian, if you ever make an attack, the whole region will protect colombia that was very importan. Maria it sounds like you are in align with the United States as well. Yes, we are, actually we share values and we share principles. The United States and colombia signed the interamerica democratic charter, we believe democracy has to be defended and maduro has independent powers, he has destroyed free media, any Economic Development in venezuela, you know, now people are so impoverish that people want to go out of the country, lost 4 Million People in less than 3 years, in colombia supporters of venezuelan people but we have denounced brutality and brutalities. Maria have you been in touch with the administration on the u. S. Of a side deal, partnership with the United States. We have a trade deal, we have a close relationship and i think the trade deal that was signed in 2012 has been very important for both countries although we have a trade deficit with the United States, we have very important United States investment in colombia and in many sectors, and the rise of Foreign Direct Investment in the last semester which was about 24 , one of the triggers of colombias highgrowth this year, we compared to latin america but grow 4. 5 . Colombia will grow 3 and thats world average. We have to keep investment going and i think the United States has been not only a Strategic Partner but we also see a relationship as relationship of trade and investment. Maria moving toward Corporate Tax cut, tell us about your tax legislation and impact. For many years what happened in colombia, the state wanted to spend more, every single time they pass shed to private sector, so when i assumed office i said we have to make a change, we grew at 1. 4 , we made the reform and removed aggregate taxation on small, mediumsize corporations, out of that we got more investment. This year as i said we will grow about 3 , so the signals are clear, people can invest, colombia is seeing now sas the place in latin america to invest and at the same time we have deregulated many sectors, eliminated red tape and we have made very wise decisions on startups for example, zero income tax for the first 7 years for startups obviously they have to work on a minimum amount of investment and minimum amount of jobs to be created. So we are seeing that that dynamism in the economy and we are pretty happy. Maria isnt it interesting to what youre doing in terms of policies to encourage Economic Growth for everybody versus the socialist and practices in venezuela . At one point venezuela was one of the most vibrant places in the world in terms of their economy. Well, you know, when i compare colombia and venezuela obviously venezuela has dictatorship but ive always try today differentiate two types of leaders in latin america, demagogues who always, you know, promise the holy land and they end up having disasters and the are the ones who tell the people who are the right thing to do even if its not popular at the beginning and in our case the transformation of colombia demonstrates through sound policies, lower deficits, more investment, supporting the private sector that we can make a difference. Maria thank you for that i want to talk about the environment, youre here at the Un General Assembly, we are the world is watching pictures of the amazon, you have the 16yearold climate activist pointing the finger at World Leaders, she blames them for ignoring Climate Change, here is what she said yesterday. You have stolen my childhood with your empty words, people are suffering, people are dying. Entire systems are collapsing, how dare you . Maria what a performance in terms of feelings blaming yourself and other leaders across the world, what do you say to that. First of all we called action on protecting forest and i attended the summit. Speeches to actions, when you look at a country like colombia, represents 0. 4 of global groan houses emissions, 6 chainest metrics in the world, 50 of the world and we have 35 of our continental soil as amazonnic, so those facts might say, well, colombia is not part of the problem, however, we all have to engage, thats the reason we are making an urgency action in colombia, 10 of nonconventional renewables in 2022, we want to get to 20 in 2030, we have deforestation 17 in the first year, thats the reason we are push to go electric vehicle not only the bill but the implementation, thats why we are talking about civil passengers, we are making big efforts and as i side yesterday, Climate Change is Biggest Issue of our time, we must all Work Together and we must also involve the private sector, so let me give you one example, maria n colombia, we decided that you can deduct 50 in the Corporate Income tax any investment that you have made on Energy Efficiency and Renewable Energy, so we believe that the whole amount of policy that we have implemented are producing the impact, colombia is highly politted to the paris treatment and we really want to be Carbon Neutral by 2050. Maria wow, do you think that the world is aligned against china and its practices when it comes to pollution in the air . I think the whole world must recognize that there are two realities, there was the reality of many countries that got to be developed without permit in environment and developing countries that has to right to develop but they have to do in harmony with the protection of the environment, no development can be reached today if youre affecting the environment, so i think the whole call not only to china, colombia, to any country in the world, in the g7 we need to harmonize with the protection on the environment, the protection on the forests, the protections on the oceans, now theres a world conscious and we are making a big bet that we train the kids in schools with the ethics maria yeah. We all have to be conscious on how to act and protect the environment. Maria youve obviously got a great grasp in growth and leading your country, what can you say to investors about corruption and those people who want to make sure that this is something thats watched and and handled and reversed . When i was when i was working at the bank in my previous life, i was a thinker that says corruption means monopoly and less transparency, what do we need to do, eliminate the monopolies of information inside government, eliminate so much discretionalty and increase the levels of transparency. What can be an instrumental tool, technology. So with block chain, technology, aggregated databases we can be more efficient so that everybody could scrutinize the way the state contract or how the state acts. So in colombia we have moved in that direction to have more transparency, weve also issued a bill so that every single high official in government has to make public their taxes filings so that people can monitor and scrutinize how they have behaved, how their assets have behaved while in office and also what we want to do this year so to be able to block chain, to identify maybe on regular movements and when we see that there are people that are not filing the information they should and then more efficient to fight corruption and we are also promoting as colombia inside the u, in that we should have a Global Anticorruption court specifically to tackle the the interregional interregional corruption schemes like the ones we saw with some countries that created scandals in latin america. Maria really important insights from you, mr. President , thank you. Maria, thank you so much. I hope you can visit us in colombia. Maria i will love that, we will follow up, ivan duque, more trouble with juul. Cheryl casone on read headlines. Cheryl investigation done by u. S. Attorneys office of the Northern District of california. The focus, though, unclear at this point, the fcc and the fda have been investigating marketing practice as another vapingrelated death, this one in kansas, this brings National Death toll with vapingrelated illnesses to 9, maker of butt wiser has raced 5 billion in second attempt at ipo over at hong kong, there was a brewing 345 a share, that was at the low end of the estimated range, still giving budweiser market cap of 45 billion, this makes it one of the Worlds Largest publicly listed brewers. Then back here at home there was this, apple mac made, scratched plans to move Assembly Plant to china, they are giving in good old state of texas. Components design made by over a dozen u. S. Companies. We have a lot more coming up, folks, new trouble for carlos gone, lawyers reportedly investigation with conflicts of interest, maria has been all over the story, she will take a closer look coming up next, gaming with google, the Tech Companies and Subscription Service will be taking on apple, mornings with maria will be right back. Ever f maria welcome back, new questions this norng the investigation of ousted nissan chairman carlos goshn, the wall street journal reporting that lawyers inside of nissan are raising concerns that the probe is being affected by conflicts of interest with the automakers outside law firm, the story say that is one of the people who brought forward the initial allegations against carlos goshn actually helped him in some of his actions that are now under scrutiny and then that person agree today work with prosecutors in exchange for not being charged. Back in april i sat down with carol goshn, carlos wife to talk about she and her husband were being treated during the whole ordeal. I was about to introduce carlos goshn 2 weeks ago and while we were waiting for you call in for him to call in to do interview 20 agents stormed in the apartment and took him away again. Exactly, the doorbell rang, 5 50 in the morning as if, you know, we are terrorists and they we wanted to take us by surprise and we opened the door, we were i jumped out of bed, i was in my pajamas, they came in, the first thing they were concerned because we had a camera in the apartment that the judge put as part of bail and they were concerned of cameras and we wanted to take it down because they didnt want the world to see what they were up to. Maria japanese officials will not allow carol goshn to speak to her husband carlos goshn, months since they have spoken, nissan did settle fraud charges with securities and Exchange Commission with 15 million over claims that it failed to disclose more than 140 million in goshns salary, goshn agreed to pay 1 million in civil penalties, your thoughts kevin kelly on carlos goshn, they are waiting on trial and you keep saying all i want is a fair trial, i dont know if he will get it, what do you think . Its very tough because of the system over there, its important to note that nissan and this is really hard, you know, time for those manufacturers especially when you think about the unions that are involved, look at gm today alone, right, this is a distraction that no Company Needs and played out through stock prices. Maria amazing to see this person getting the charges and at one point he was like the king of the world in japan, there were economic books written about him jonathan and here he is basically under house arrest. Tremendous successful leader and competitive markets, some of the charges at least seem to be unexplained at this point, i hope the fact that there was settlement with the sec could expedite the process and japan gets justice for this man. Maria we know that japan did not want nissan to merge with ronault that. They talked about sending money to son, there are articles on this that can help explain some of the charges. Maria all right, we will watch that, coming up now you are playing with google. Technology giant launching phone Gaming Service to compete with apple, thats next after, stay with us. Here, it all starts with a simple. Hello hi how can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Maria welcome back, google unveiling new gaming Subscription Service, Lauren Simonetti with all the details. Lauren let me tell you google play pass, you can play monument value or risk and get apps, apps like accuweather for 5 a month, subscription cost, 350 games and apps like i said only available on android, this will roll out this week, apple just a few days ago launched arcade Gaming Service, same 5 bucks, only games, no apps here and its also so if they develop something for arcade on apple you cant get it through the app store, its very specific and regimented. What im wondering so we are moving to subscription model for gaming too but in purchases are Huge Industry about 40 billion a year, you dont get that anymore, also no advertisements which is good and no pay walls but they are losing revenue i suppose with the App Purchases they will have to gain back with the subscription. Maria what a big business, im not surprised google gets into the business because its something thats red hot, the hottest area of entertainment. They want to be the netflix of gaming. Lauren november. Exactly, theyve announced that, they are expecting 5g to be built out so they can deliver that, you to reduce the latency but youre bringing up a great point, who is going to win in all this, they have to be there and compete, some of it maybe losing money for them so they keep people in their own ecosystem. The winner is obviously the consumer, my god, i remember buying cartridges for 14, 15 for one game, this is what happens in marketplaces, maria, to your Point Electronics art take a lot of companies have had licenses to print moneys with a lot of those in purchases, et cetera, this is interrupting and providing consume we are consumer with a better benefit. Lauren battle for our phones continues, what else are you going to do with your phone . I mean, its just content no matter who is providing it. The thing about kids and getting all of this, read a book. [laughter] maria more data and more memory. You read the book on the phone, by the way. [laughter] remember that . Five dollars for game, a dollar for books. Maria Lauren Simonetti, we will take a break, drama at wework more calls to oust the ceo, made in america, the farmers dog transforming the way your dog eats, dusty is making an appearance, mornings with maria. [upbeat action music]. pilot were going to be on the tarmac for another 45 minutes or so. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria welcome back. Good goo morning. Everybody. Im maria bartiromo. It is tuesday, september 24th. Your top stories right now, 7 0. We have optimism on wall street this morning, futures indicating a gain of 85 points on the dow industrials, s p up 10, nasdaq up 30 points. This after markets finished the day little changed yesterday. Take a look at 4 00, the dow was up 14, the s p and nasdaq were negative. In europe, a setback for Boris Johnson. The top court in the u. K. Ruling against him, saying his move to suspend parliament was illegal. Markets there are mixed, as you can see. Asia overnight, gains across the board. Take a look. We have fractional moves, but all positive. Trade tensions appear to be easing with china, china giving tariff waivers on u. S. So soybes and making a big purchase from american farmers. High level talks resume in washington in early october. The road ahead for ipos, wework is facing speed bump asss peloton gets ready to hit the market. My dog dustys big tv debut today, she will be here and its her big tv break. Im going to bring in the experts as we look at a fresh pet food made in america and i introduce you to dusty. All those stories coming up this Tuesday Morning. Joining me to break it down, Fox News Contributor Jonathan Hoenig is here, jackie deangeles is here, along with kevin kelly. Great to see you this morning. Great to be here. The dust buster coming on, weve got to figure out do we get her an instagram page. Thats a tough question. Shes too cute. Maria is worried about her privacy. Maria i have a lot of pictures of her on my instagram feed. I put some good ones this weekend on my instagram feed. Somebody told me i should get her her own page. What happens if she becomes more popular than you . Maria thats probably going to happen. Wait until you meet dusty. The top story this hour, President Trump on the world stage, hes at the u. N. General assembly, the president will deliver remarks at the u. N. Ga later this morning and it comes you a mid a backdrop of new controversy surrounding his july phone call with the ukrainian president. The white house freezing 250 million in military aid to ukraine before the call sparking new and fresh concerns that the president used the aid to pressure them into investigating joe bidens son. The house will discuss the phone call this afternoon and the possibility of impeachment. Yesterday we had rudy guliani on, who said it was all baseless. Joining us right now is the former ambassador to cypress and foreign and International Economic analyst, richard baucher. Thank you for joining us. Thanks, great to be here. Maria any thoughts on the criticism . Is it impacting diplomatic efforts in any way on the president s side . Sure, i think everybodys looking at it and thats the whole thing swirling around him. Nobodys probably really going to raise it during the series of meetings in new york but Everybody Knows thats the backdrop and particularly knows that hes got Something Else on his mind right now. Maria what about the backdrop of what joe biden did . I mean, now the media is forced to focus on the fact that joe bidens son, hunter biden, did have partnerships with the ukraine, did travel with the former Vice President on air force 2, to china, and then get 1. 5 billion for his hedge fund. Is that being spoken about . I assume some people are looking into it. But frankly, everybody around the world is kind of used to prominent americans, people from prominent american man families getting into international business, going on boards of Foreign Corporations. I mean, some former ambassadors do it too. Maria meaning with a sitting Vice President . Its not unusual to he see people maria i believe joe biden, then Vice President , was going to china to speak to the leadership of china and thats when hunter biden was on his plane. Youre saying this is common place for a sitting Vice President . I would say its commonplace for prominent americans to join boards of Foreign Corporations. Maria thats not what were talking about. Were talking about 1. 5 billion paycheck to hunter bu biden from the Chinese Government. Again, an american on a Foreign Corporation is going to get paid. So p i dont know the facts of exactly what happened in this case. It really the question is whether somebody uses their office, the power of the office, the power of the United States, to get a personal gain for themselves or their family. Maria right. Did joe biden do that . John. Did donald trump or others do that . I dont know. Maria what i was referring to was the investment that the Chinese Government made in Hunter Bidens hedge fund which was 1. 5 billion, just a couple weeks after he traveled on air force 2 with his father. But we want to talk about tehran tensions. Thats why you joined us this morning. The leaders of britain, france and germany joining the u. S. And accusing tehran for the attacks on the sawed d saudi oil field. They say its time for iran to begin talks fo for a longer term agreement. President trump weighed in. We have a lot of pressure on them right now, more pressure than theyve ever had and iran knows that theyre in a position that theyre a lot of things are going to happen. Let me put it this way. A lot of things are happening with respect to iran, a lot more than you would know, a lot more than the media knows. A lot of things are happening. Maria richard, whats your response and takeyou away on this iran, saudi conflict . Well, first of all, the iranians are alienating their friends. The europeans still want to stick with the he dea deal but e feeling pressured by the iranian attack on saudi to do something. We have the sweettonged Iranian Foreign minister running around new york. We see french president macron is trying to work some kind of deal where he gets the u. S. To talk about a new deal with iran but he also pressures th iranias to open step uto step up and be. In the end, iran is in a bad position right now. Theyve lot lost a lot of sway with their european friends. Richard, its kevin kelly. My question to you is, you say theyre in a tough position. I think theyre in a position of power, given the fact they filled the power vacuum in iraq. The reason we were able to defeat sigh si isis is because t military into iraq. Theyre trying to position from trying to negotiate from a position of power. Germany, france and the u. S. Dont want to send more troops to the middle east. What is your take with regard to the military aspect of iran and the saudi situation . I think the europeans are not about to send any more troops to the middle east, no matter what happens. They do need ensure the continuing flow of oil from the middle east. But theyd be happy to let the u. S. Take care of the military aspects of that. Richard, its Jonathan Hoenig. The president is sending some additional troop, support troops but hes promised increased once again maximum pressure when it comes to sanctions and all the economic boycotts, et cetera. Is that enough ultimately to keep us safe from whether it be drone attacks or attacks against allies in the middle east . Is economic sanctions going to be enough . Im afraid not. Weve had sanctions of one sort or another on iran since 1979 and it hasnt changed their behavior. It may have limited it a little bit. Made them a little less ambitious. But the adas at this of something th the audasity of this shows they wont stop when it comes to pressure. If the u. S. And the europeans make an effort to get china, india and others on board, that might have some effect. The maximum pressure in the u. S. Alone or the u. S. And a small group of countries clearly is not going to change iranian behavior. Maria let me move on to china. Treasury secretary Steven Mnuchin taking President Trump by surprise yesterday, talking about the chinese delegation and the canceled u. S. Farm visit. Take a listen. That was actually our request, they delayed that. We didnt want there to be any confusion. They have started buying agriculture. Theyre reschedule that at a different time. The timing didnt work. That was purely our request. Why was that our request, just out of curiosity . We didnt want confusion around the trade i want them to buy farm products. There is no confusion, we want them to buy agriculture, they committed to buy agriculture. Maria china is going to hold back the tariffs on soybeans and theyre going to buy more agriculture. Do you expect a deal between the two nations, richard . I do expect a he deal. The question is, when is it going to come . I mean, were in the strange position where there is a deal on the table. Everybody pretty much knows what it is. Buying mission, opening some sectors, promises of further opening. But it seems like the president still wants to win and xijinping doesnt want to lose. So i think first weve got to get beyond the october 1st, 70th anniversary of the peoples republic. Xijinpings got to get beyond that. He cant take anything that might shake his reputation before then. And then see how they can work out a deal, where it seems like both guys come out winners. But i win, you lose, is not going to work. Theyve got to both come out looking good. Maria coming up this morning, mark penn is here, Energy Secretary rick perry joins us and former citigroup chairman and ceo, sandy wes weil. A lot to come. Stay with us. Were looking at the ipo market this morning. Investors are waiting on peloton and endeavor among others. Whats at stake. And were looking at made in america. My puppy, dusty, is making her debut. As we check out the farmers dog, a unique line of dog food. Stay with us. Who says, who says youre not perfect. Who says youre not worth it. Who says youre the only one thats hurting. Trust me. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Its an honor to tell you that [ applause ] thank you. Liberty mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. Maria welcome back. Puerto rico hit with an earthquake as a Tropical Storm approaches. Cheryl casone with the details now in headlines. Cheryl it really is Something Else down there. A 6. 0 earthquake shook residents of puerto rico out of their sleep overnight. Thankfully, there were no reports of injury or damage. The quake was actually off the coast of puerto rico, so its in the ocean. The island is bracing now for Tropical Storm karen which is expected to bring heavy rains, flooding, possibly landslides at some point today. Were watching the weather near puerto rico. Also back here, the owner of my payroll hr has been charged with a massive bank fraud allegation. Federal prosecutors say michael mann admitted he used Fake Companies to obtain 70 million from banks and other Financial Institutions in a scheme that dated back to 2010. This scam temporarily left thousands of employees of Small Businesses without their paychecks. And then there is this. Katherine powell who was in charge of Walt Disney World and disneyland theme parks is stepping down. Her departure, the timing is interesting. Its coming after attendance of the companys massive new star wars themed expansions fell fairly flat for the company. They were watching shares of disney. The stock is up this morning. Its up almost 1 . But obviously the theory, maria, out there is people were so nervous about going to the star wars park because there was so much hype about it, that they didnt try to get tickets. Now theyre discounting the tickets. Now im on it. I mean, this has been a big money maker for the stock actually, for disney itself. Their theme parks is a big cog in their wheel, now theyre spending more money on disney plus and streaming. They need to start executing, otherwise the shares could be hit significantly if theyre not firing on two of their components. One of the things that distinguishes them from an apa apple, or even netflix, they can get people to come and buy all the games and the toys to go with the property. There are so many star wars fanatics out there, that even when reports emerged, im afraid that people were afraid to go to the parks because its so crowded. You would think people would show up in their costumes and everything else. Theyve raised prices at the disney parks. Ththe consumer is strong. But for a family of four youre talking about hundreds and thousands of dollars for disney. The reviews have been good. Thats the surprising part. People spend money to go to disneyland in general. So for not going to this, it seems odd. Theres a miscue somewhere. They execute really well on everything else. Maria they do. Its unbelievable. You come out of the lion king play and theres a million things to buy, right there. When we come back, pressuring china on human rights, is that part of the conversation on trade . My next guest on one groups fight for religious freedom as beijing cracks down. Then frozen fans sneak peek, disney dropping a preview for the much anticipated he sequel. Weve got the trailer right here. Stay with us. Tip it on back. Make you feel good. Sip a little more than you know you should. Let is flow over your lips. Let it all go, whatever it is orlando isnt just the theme park capital of the world, it also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. 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And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. The United States is founded on the principle that our rights do not come from government. They come from god. Jews, christians, muslims, bud budists, hindus and many other people of faith are being jailed, sanctioned, tortured and even murdered. Protecting religious freedom is one of my highest priorities. The United States of america calls upon the nations of the world to end religious persecution. Maria that was President Trump yesterday, focusing on religious freedom at the u. N. On the sidelines of the annual gathering of the World Leaders of the United Nations. Joining me right now is human rights project chairman, nuri turkel. Thank you for being here. Religious freedom has become a major priority for the Trump Administration. You have personal knowledge about whats going on in china and i want to get to it. The crisis where the United States is cohosting an event at the United Nations General Assembly on chinas treatment of muslim minorities, including ethnic wegers. Tell us whats going on. Since late 2016, chinas government put in power a broad level official and he thought that the wegert issue had to be dealt with, with a final solution. Theres a chinese term for that policy initiative and then he started Building Construction camps, concentration camps. And starting last august, the International Community started paying attention with the u. N. Panel alerting the world that theyre up to a million being held in the camps. What the Chinese Government has been trying to do is to dilute wegers centuries old National Identity by force, making them go through this indoctrine nation programs through mass detention, surveillance and even making the kids to spy on their parents. So recently the assistant secretary of defense for indo pacific randy s shriver, theres been 3 million held in the concentration camps. Maria what you have going on is you have muslim whose want to practice their faith, tibetans who want to practice your faith, china says no, you want to learn the Chinese Culture and not have faith in your own religious. Mike pompeo was here, he told us about this. Hes calling on all countries to resist chinas demands to repatriate ethnic wegers, saying beijings campaign in the western chinese region was an attempt to erase its own citizens. He spoke with me back in april about this. Heres what the secretary of state told me then. I mean, when you look at the human rights abuses for example in china, talk to us about this police state that they have created in terms of, for example, rounding up chinese muslims. Theyre saying that its for Vocational Training and yet there are officers with guns and barbed wire around these Vocational Training centers for muslims. Maria, theres a long history of china not abiding by its constitution which says people can practice their faith and chinas own constitution. Yet today they rounded up close to a million muslims, wegers, in one part of their country, treating them horribly. They say theyre reeducation camps but they wont let people in to see whats truly going on there, very limited access to this. Maria you actually know people who have been in these camps, right, and you say its not a reeducation camp. It is a concentration camp. The fact that im in new york with one of the survivors, the state department is organizing an event this afternoon that she will be testifying. Shes one of the three of the camp survivors that weve been speaking to. I mentioned three because no one is coming out. Were talking about the people four times the size of the population of washington, d. C. And they just disappear in these camps and no ones is coming out. That should give us a concern. Maria whats going on in these camps . They go through indoctrination programs all day long. They study chinese and they study xijinpings thoughts. So theyve been told their religion is evil. Their religion is a mental disease. They have to go through programming. The Chinese Government has been forcing wegers to go through human engineers. They have been treated as a subhuman for almost for almost six, seven decades, since maos take over in 1949. Since xijinping took power, the landscape has taken a dramatic change. But now that the wegers are facing ethnic cleansing in a modern day concentration camp, the concentration camp p is one part of the whole thing. Theyve been attacking weger americans, threatening them with phone calls, in some instance forcing them to spy. They set up a surveillance state, New York Times reported that a reporte reporter countedo dozen security cameras at street corners and theyre forcing them to install spy apps, causing tremendous anxiety that is forcing wegers to disconnect from family members. If something happens to the family, they will not know in this day and age with all the technological advantages that we have. Maria when you say concentration camps, i want to be clear here. Because its very sensitive thing obviously after what we saw, what went on in nazi germany. Right, right. Maria why do you call them concentration camps . Is that the right word, concentration camps . Yes, it is the right word. It is involuntary. It is based on your ethnicity, your religious background. Maria are they killing people . They built crea around the c. This is for International Organizations to investigate. Maria do you think human rights abuses in china is part of the conversation that the Trump Administration is having with china right now over a trade deal . We know the deal between the u. S. And china being talked about includes National Security issues, the theft of intellectual property, the forced transfer of technology. Does the u. S. Expect to do partnering with china in the face of even these human rights abuses . I think the business communities around the world should reexamine their relationship with communist china. You dont want to do business with the government in a daylight locking up more than 10 of its population. Its a matter of conscience. The question is very simple, what kind of future do we want for our next generation, having been told that never again, that no one would be punished based on religious background. Never again is happening again in china for the wegers today. Maria this is an extraordinary situation. Thank you very much for joining us to talk about it. Obviously religious freedom is a priority of the Trump Administration. I am personally grateful for the Trump Administration for taking a leadership role in the crisis and im personally grateful for secretary pompeo and Vice President mike pence. Maria your father spent a few weeks there but he was thankfully, your parents are okay. So far, so good. But thank god that theyre safe but you never know. Maria thank you very much. Big names going public, wework, peloton airbnb looking to make a stock market splash. And one Company Makes good whole some food for your dog, the could yocofounders of farmersl join us next. Dont pretend that you dont me. Water under the bridge. If youre going to let me down, let me down gently. Dont pretend that you dont want me. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Of the value youll find at fidelity. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. [ scoffs ] if you say so. Im sorry . What teach here isnt telling you is that snapshot rewards safe drivers with discounts on Car Insurance. What . Or maybe he didnt know. [ chuckles ] im done with this class. Youre not even enrolled in this class. I know. Im supposed to be in ceramics. Do you know room 303. Oh. Thank you. Yeah. Good luck, everybody. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . For farmers here, this is our lifes work. But when a recall happens, perfectly good food goes to waste. Now, weve got away around that. Looks good. Were on target. Blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. Its used by some of the biggest retailers everywhere. A nice wedge. So more food ends up on your table, is that daddys lettuce . Yeah. And less food goes to waste. And less food goes to waste. Oh, wow. You two are going to have such a great trip. Thanks to you, we will. This is why voya helps reach todays goals. All while helping you to and through retirement. Can you help with these . Were more of the plan, invest and protect kind of help. Voya. Helping you to and through retirement. Maria welcome back. Good Tuesday Morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is tuesday, september 24th. Your top stories right now, 7 3. Were at the highs of the morning right now, futures indicating a gain at the start of trading, 91 points on the dow industrials, s p up 10, nasdaq up 32. Markets were little changed yesterday. Dow industrials were up 15, s p and nasdaq lower. In europe this morning, a setback for Boris Johnson, the top court if in the u. K. Ruling against him, saying his move to suspend parliament was illegal. In asia overnight, gains across the board. Fractionally moving, but the shanghai composite was the best performer in china, up a quarter of a percent. In japan, factory activity shrank at the fastest pace in seven months. The manufacturing purchasing Managers Index coming in at 48. 9, the nikkeis was up a fraction overnight. Breaking news on the saudi aramco ipo, its unlikely to list this year following the attacks on the saudi oilfields according to reuters. And dustys big tv debut, well look at fresh pet food made in america this morning. All those stories coming up this Tuesday Morning. First, our top story this half hour, ipos in focus, peloton and endeavor expected to go public this week, joining a growing number of ipos to watch this year, including wework, airbnb and post mate. Joining us now is devin parek. Thank you for being here. What do you think in terms of the ipo market this year, characterize it for us. I think the ipo market continues to be strong and youve seen four the area we focus on is software and four companies have gone public with north of a 10 billion market value, the most thats ever happened before. Like in every market, the markets discriminating in Business Models. Thats some of what youre seeing right now. Maria we had Steven Schwarzman on over the last week. He said the private market, the valuations are so extended right now, hes actually wondering if in fact we are going to see a bust in private markets. How are you characterizing the Companies Gearing up to go public. Are valuations getting excessive . Valuations are high. Theyve been high the last two or three years. You could have made the same statement the last three years in a row and valuations have continued to go up. Im not sure i can perfectly say when they wont but i will tell you is were seeing more Companies Growing at north of 100 today than weve ever seen in the last 10 years. Will Economic Conditions continue . We can debate that. The fundamentals, particularly in software, where we focus, the roi on software is so high that were seeing no pullback in spend from companies which fundamentally is what we focus on. Youre bringing up a great point. Especially software is key to the cloud, it helps make the architecture work for that. Your talk about Business Models. Weve seen with wework, their Mission Statement was to elevate the consciousness of the world and then we look at peloton today, i dont know, the s1 is confusing. They said they were an apparel company, logistics company, and they said at their core peloton sells happiness. So [ laughter ] and were all laughing about it. Its a lot of money. I think its fascinating. Then we start to look at the Technology Space and were seeing regulation risk is really high right now. So what im looking, the tech sector, its the biggest sector in the s p 500 but it has the biggest head winds. 60 of the revenue is overseas. Cost of goods sold is going up with tariffs happening and then regulation risk. So how do you play technology here . I know youre talking about software. But it seems like a tough place to get into. I think theres three different markets that you talked about there. Youve got enterprise software, selling software to public companies, things like flack which went public recently through a direct listing. Youve got hardware companies, peloton, very different model, more affected by tariffs and the ever manufacturing. And the consumer. With these cases, like with everything, you have to differentiate different types of businesses. I think that wework in my view at the end of the day is more of a real estate business than it is a technology company. In any strong market, people are going to last year all anybody talked about im sure on your show was cryptocurrency and the block chain. My guess is not a lot of guests talking about the block chain right now. Youll always have things that are hot or not at any given point of time. If you look at the four Software Companies that went public this year with a market cap of 10 billion, they had a retention rate of 1 140 . That means if a customer spent a dollar last year, theyre spending 1. 40 last year. You mentioned the market get has been discriminating. Some of the more high profile ipos, lyft, uber, theyre below ipo prices. Wework has been a major debacle. They cant even get 10 billion now. I remember the 2000 bull market stopped once the ipos starting flopping back in march of 2000. Is that what were seeing now . The fact that these high profile ipos cant get off the ground, or a lot of them, thats not a fairly icanary in the coal mine . Its not. If you look at airbnb, my guess will have a different reception in the Public Market than these two businesses, because they have a fundamental Business Model had that works, high gross margins, its a product that works, they make money. That was the Common Thread in the issues you mentioned. They dont make money. They dont make money. Interestingly its a shocking thing, you might want a company to be profitable at some point in time. The problem with some of the Business Models that were talking about is its unclear what the path to profitability is and in the case of some of the Ride Sharing Companies in particular, theyre in the lower left quadrant which is what i Call Companies that are not growing that fast anymore and not making money. You can grow fast and its okay to lose some money because youre investing in sales and marketing but at some point if you start growing slowly you need to figure out how youre going to make money and a lot of these business versus not yet demonstrated an ability to do that and the Public Market is penalizing them. Maria how long do you hold onto these companies before your exit strategy. You have 20 billion in aum. Its mostly in private companies. Maria you invested in 300 Companies Across the world. How long do you hold onto a company before you expect to get some kind of exit strategy. Our exit strategy can be a Public Market, it can also be a sale. A strategic sale. Interestingly, if you look at the last five last four years, a half a trillion dollars of market cap has come out of tech in m a. And so one of the reasons why you continue to have strong demand, i think for technology ipos, is a lot of the growth has been a net reduction. Asset under management have gone up and the net amount of assets that you can invest in has actually gone down and so when a high Quality Company with great statistics, with great metrics, who hasnt had the profitable comes up, they get valued extremely well. Unpress dentally well. Maria how Many Companies do you think are having a. I. As a core part of their business . Is that an area that you invest . It is. Its probably a 20 minute conversation in and of itself. The term a. I. Gets misused. We think about it in terms of Machine Learning and the reality is, every single one of us use Machine Learning. If you used netflix last night, youre using Machine Learning. My point is simply that almost any application that well use over the next five years, will have Machine Learning. Maria well have a special airing tomorrow night about that subject. You walked in and you said you have the farmers dog on, youre an investor in our next guest. This is a toe call coincidence. Total coincidence. We look ff thing that we look in the enterprise companies, and thats really high retention. It turns out most people love their pets almost as much as their kids and in some cases more than their kids. Good retention there. [ laughter ] ill leave it with that. Your next guest can talk about it in more detail. Maria great to have you on the show. Thanks so much. Coming up, Blood Pressure medicine recall, were going to tell you about it when we come back. Stay with us. When i see your face. Theres not a thing that i would change. Cause youre amazing just the way you are. Have debt we might d ie with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Performance comes in lots of flavors. dramatic orchestra theres the ampedup, overtuned, feedingfrenzyof sheetmetalkind. And then theres performance that just leaves you feeling better as a result. Thats the kind lincolns about. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Maria welcome back. The food and Drug Administration is expanding its recall of two drugs used to treat high Blood Pressure. Cheryl casone with headlines now. Cheryl an additional five lots are being recalled because they contain a chemical that could cause cancer. This is the fifth time this year that the drug, which is made by torrent pharmaceuticals, has been recalled. Anybody taking one of these recalled drugs should speak to their doctor before they stop taking losartin. Amazon is planning to introduce ear buds to compete with apples air pods. The rumored ear buds are code named pugeot, theyre he designed to make it easier to use alexa when on the go. Reports are they will also work as a fitness tracker somehow. They are expected to cost 100 and theyll be unveiled tomorrow l. Stay tuned for that. For parents everywhere, let it go, people. Disney has released a new trailer for frozen 2. Now we see elsa and anna leaving aarondale to save the kingdom. They are calling for you. They may have answers. Im going with you. Anna, no. Excuse me, i climbed the north mountain, survived a frozen heart and saved you from my exboyfriend so, you know, im coming. Cheryl the sequel picks up three years after the original. Frozen 2 will be hitting theaters november 22nd, to the joy of parents everywhere. Maria i cant wait to see that one. I love it. Thank you so much, cheryl. Coming up next, only the best for mans best friend, American Made food for your family dog. My dog dusty is here in studio, offering her opinion on this farm fresh food for dogs. Come here, dusty. Come here dus dusty. Come here, good girl. Who let the dogs out. Who let the dogs out. Who let the dogs out. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. On the boat and on the plane. Theyre coming to america. Never looking back again. Maria welcome back. I have my hands full here because our segment here made in america, once again, but this time we focus on dog food. My baby dusty is making her tv debut this morning. Right, dusty . To welcome the farmers dog, a dog food brand catering to a dogs health and wellbeing, delivered to your door. Joining dusty and me is the cofounders, brett and jonathan. I hear youre making your founding date day the fifth anniversary of your first sale. Congratulations, gentlemen. We love this segment, made in america. And we just adored the idea of your company when we saw it. In fact, we had one of your investors on the show, just total coincidence. Tell us about how you got started. It all started because of my dog, i was struggling to try to find a solution to her health problems. A vet recommended i tried home cooking for her. It was like magic. Her symptoms disappeared. It made me look into the pet food industry. What i found was alarming. Pet food is so highly processed. We all know that feeding highly processed food to our pets or ourselves every day of their lives is un unhealthy. We decided to make freshly cooked food with the proper nutrients to your door. Maria the treats i give dusty, we just steam string beans and carrots. Thats her treat. Thats all she has as a treat. Dry food, we do the dry food. But obviously this is a hit. Youre up to 80 employees already, is that right . Yeah, just a little over 80, yeah. Maria tell us about how you keep this growth going. I think were still in the early days. Most people still think that kibble or pet food is the right thing to feed a dog because it says for dogs on the bag and it has all the right nutrients. What weve done is created a new product that can deliver the same nutrients but with fresh food and make it really easy. So most people still dont know thats even a possibility. Its an entirely new market. Maria its an entirely new market because people dont recognize how important its is to have these important and good food for the dog as well as humans. Its tough. Because you have these beautiful pictures of real ingredients on the pet food bag so you feel like im giving my dog great food but they dont realize how processed it is. Maria should we have dusty try it . Im going to put her down. Lets see if she goes to it and if she likes it. Go ahead, dusty. Shes cautious. The dogs like the food but most importantly its the healthiest thing for them. Maria its a lot. So i think we should take it away from her. Theres probably too much. Maria how has being made in america helped your business . You produce everything in america. Yes. And because were fresh, its really important that things are local. A lot of typical pet foods are importing dry products and they say chicken, its really chick n powder thats imported. If we want to make things fresh, its important to do it locally. Maria in terms of doing it locally, how do you do it . Tell us where the manufacturing is done. We have a few facilities across the country. Were available in every state in the country now and so its really simple. We partner with farmers and then have kitchens and facilities across the country to deliver fresh food. Maria specifically what is it in it . It depends on the dogs needs and the recipes. This is turkey [barking] maria you took the food away. She wants it. Shes barking. She wants that. [ laughter ] maria put her over here. We can have her on camera. Thats okay. She wants the food. Poor kid. She wants it. You gave her the food and took it away. What do you expect . What did we expect you to do. Warning, this may happen at home as well. They definitely love it. Very common. Its fresh ingredients, has all the right vitamins and minerals for the dog. We preportion it for each dog so maria whats the price . Normally people spend umpteen amounts of money on the dog. Is this a premium. We do a lot of effort to cut out cost. Thats why we ship direct. Its not too expensive. Maria is there salt in that . Theres salt just for their mineral needs. So not maria not too much. Its actually required for them. Maria tell me what the growth plan is going forward. For us, what we understand is theres 90 million dogs in america and like 99 of them are eating highly processed food and our goal is to completely change the way people think about feeding their pets. So ideally, 90 million of them we would love to be feeding and if not our food, its just fresh food, thats important to us, making sure every dog is eating fresh food. Maria thats what dusty is doing right now. She ate way too much this morning. Dogs are very different than human children where they prefer the food thats healthier for them. Maria thats true. I like that. Brett, jonathan, great to have you. Thank you so much. Check out a farmers dog, brett and jonathan, come back soon. Thank you so much. Dusty certainly loved this segment. Coming up, the uaw versus General Motors, where negotiations stand, next hour, right here, mornings with maria. Will you still love me tomorrow. pilot were going to be on the tarmac for another 45 minutes or so. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Welcome back. Good do you see morning. Thanks for joining us. Im maria bartiromo. It is tuesday, september 24, top stories right now just before 8 00 a. M. On the east coast World Leaders coming together in new york have to week President Trump is addressing the u. N. Assembly today as ukraine controversy deepens, questions on the timing of the call, just what the whistleblower actual knows firsthand, more democrats are calling for impeachment, all the latest coming up, trade tensions easing china giving tariff waivers on u. S. Soybeans making a purchase from american farmers, highlevel talks to resume in d. C. In a couple weeks october. On wall street near highs of the morning with dow futures up 38 s p futures up 9 nasdaq futures up 29at markets finished the day little changed yesterday as you see 4 00 on are wall street dow up 14, s p, nasdaq fractionally lower in europe, a setback is this morning for british Prime Minister Boris Johnson court ruling against johnson says his move to suspend parliament was illegal, in asia overnight gains across the board a fractional move nonetheless positive coming up you to break it down the founder of capital i have the pigdone john known hoenig Jackie Deangelis benchmark managing partner kevin kelley great to see everybody. Especially the action in the markets given the fact that the news out offed germany past couple has looks like in contraction what is happening over with Boris Johnson looks like brexit wouldnt be happening for a long time so it is more you know, this uncertainty over there but the markets a shrugging this off. Focused on potential deal with china. Ee. The headlined. The fed market has been most of our returns this year predicate kaitsdz on what fed is going to be doing it hasnt come through on earnings if you think about how everyone keep cutting keep cutting supports lofty valuations trading at above historical norms. Even said yesterday if there is a recession it could be sharperer more pro announced than some people expect make it difficult to reach 2 inflation target market shrugged that off want the china peace the fundamental piece will matter o so much for Business Rates are low right now there is not much more to go. I met art laffer said he thinks if a china deal going to be thousands of points on Dow Jones Industrial average. President himself said it is not for trade war the market a 10,000 points higher could be slightly hyperbolic no question, maria to your point every incremental move the waivers apple has been granted a slew of waivers every move towards away from trade war towards trade deal market seems to like it wants to head toward those. The president is going to do not a deal until closer to election why would he i think you are seeing that. Save americans money . To holidays a problem if tariffs on products everybody is plying. Eye thought china was paying for tariffs. We will see that is certainly with the administration says. Good. Well weed go we want to wait for official comment on that, but certainly does look like japanese Prime Minister resulted in tried deal joining the conversation the Energy Secretary rick perry here with he former citigroup chairman co sandy weill the discuss partnership, Artificial Intelligence biomen Health Research Stuart Varney joins us a big hour coming up, our top story this hour President Trump speaking at u. N. General assembly in new york city this morning Kristina Partsinevelos is covering the story from east side of manhattan what to expect kristina. 74th u. N. Ga what we are seeing is president going to arrive 9 30 a. M. Eastern time, going to address the General Assembly 0 15 a. M. A lot of speech could be overshadoweded by xhipts about ukraine why white house withheld four hundred Million Dollars military aide to ukraine reports the president wanted to look into joe bidens son however sources tell fox news, that that was really about corruption, corruption in ukraine the reason with hel because of that reduced what we call expoundment the president denies allegations commentary he made yesterday. Did you tell the ukranian leader that they would have aid only if they gaidz joe biden and his family. No, i did not no, i didnt. I did not make a statement that you have to do this or i am not going to give you a. Because of any Everybody Knows it is just a democrat width of hunt here we go again they failed with russia failed with recession failed with everything now they are bringing this up. So we again like to resilient sources influences about corruption, that is the reason why the president white house withheld military aid to ukraine now statement from white house, that reads i quote, the media pushed the russia lie from a three years no evidence now they are doing it all over again, these allegations are completely falls but cause media wants a story october true so badly once again manufacture frenzy drive ignorant sick stories to attack this president. That is going on followed by that speech 11 15 a. M. We are expecting a bilateral meeting with Prime Minister. Uk Boris Johnson as you mentioned at the top of the show drama going on there judge ruling it is illegal to suspended parliament kwlez that will happy after that meeting another bilateral meeting with yibd president expected to leave 3 15 pm eastern time. Kristina thank you. We will change back. Ceo sadler Group President managing partner mark penn great to have you this morning reaction to that you will in terms of the ukraine call. I think in terms of the crewian call i think you are going to see democrats move towards some kind of impeachment here transcript is going to have to come out i think typically administration has gotten ahead of stories put the all emphasize they have to do it this time do it quickly. What would be wrong give transcript of the call to congress, as they are asking. Intel in general you wouldnt want to give a transcript of foreign leaders but in this case questions have been raised that have to be answered no stopping these questions. You make a really good point that is what senator Lindsey Graham said on sunday what are we going to do open up every private call president has with foreign leader did we do that with other president s. No, i think this would be exception real issues have been raised democrats are not going to satisfied moderates moving into enticement inquiry if they can put this story out the better, better move congress is going to get the information one way or the other no question. Does it bother you i know you have done a lot of work on this democrats refuse to focus on the wrongdoing happening at the early 2016 in election everything this president has done oh impeach why do we wand on michael who are wits report what took place. Michael horowitz has to take less than two years doing reports if he wants to give he meaningful information what happened i always thought russia investigation did not have Real Foundation but i think that is irrelevant to this, this has to go forward information has to come out public and congress, have to be satisfied about it. And about michael who are wits where is his report already . Mark i think we are talking one side of the story the other side with joe biden, right so do you think there is exposure on his side you know with everything coming out that actually could hurt his Campaign Going into 2020 . Well, look, i dont know there are times pretty tough story may of 2019, biden and family all financial things nothing really happened after that. I think that is going to be raised here, looked at again, i dont know the fact nobody does. I think that everybody here is going to have to take a deep bretth say i want facts very specific questions. We know hunter biden got one and one half billion dollars from Chinese Government right. I have heard that from rudy giuliani, i heard about this Wire Transfer and all this has not yet been proven to the satisfaction of the american bub what is going on here, and i think, journalists here have to ask questions on all sides i expect that is going to happen, the way i thought we would have a calm period just a war between iran and saudi arabia, now politics broken out all over. You are right the fresh calls for impeachment, this time from seven freshmen democrats all writing on Ned Washington post write if these allegations are true we believe actions represent an he Impeachable Offense do not arrive at this conclusion lightly we call on our colleagues in congress, to consider the use of all congressional authorities available to us, to address new alterations find truth protect our National Security. Well, i think that is what you see moderates moving over. Going beyond it be Jerry Nadlers of the world. Inquiry has to happen facts have to come out good news he probably arent that many facts not taking years to see transcript understood whether or not a relationship with funding. To discredited whistleblower president called him or her is that making hay or only involved when he said transcripts slightly redacted released. The story is beyond the complainant or whistleblower, even if it was third hand fourth hand information the president said that he raised the issue, now, how did he raise that issue . In what when context whether or not pressure was involved taking funding a legitimate specific questions have to be answered it is beyond that. Lets talk about democrats on the stage, making it you tougher dnc making it tougher for democrats to qualify for next round of debates next round of debates in november new rules rolled out monday including the polling, individual donations from 165,000 people with, at least 600 unique donors at least 20 states, holding 3 or higher at least 4 approved national conducted between september 13 and week before debate your reaction to this tighter situation or even to get on that stage, who is going to be on that stage. Well, my reaction is i think that voters are tightening up the race themselves. You can see three clear front runners, Biden Sanders warren, then i think you see, several candidates like mayor pete and harris have potential to move you dont really see any traction among the rest of the field, so really that is voters want this narrowed down want it narrowed to the top candidates. Who do you think out of three, sanders, Bernie Sanders, Elizabeth Warren, and obviously, joe biden who do you think takes on trump the most . Look i think biden has the best opportunity versus trump because he is very strong with the working class voters. The trump has taken from democratic column i think he is probably, probably the best candidate that democrats could have in terms of taking on trump. However warren is surging, sushlg surging california poll iowa a real race i am not sure anybody has 50 going into this convention. You have been calling for brokered convention i know that for a listening time amazing how well Elizabeth Warren has cone. If you look at biden potency gone last couple weeks developments with ukraine he has taken on a very angry tone any chance in front of media attacking the president is that what it is going to take or is that going to turn people off . Joe biden is the one democrat everybody likes. Highest favorable rating of any of the democrats and republicans and that is 50 not a but much higher i think attack on them now may call him to rebound among democratic voters who see him targeted to me that is a turnoff when i see that on television. People wanted to see a little bit more fight in him see a little bit less aggression from others, because worried he frs Strong Enough to take on trump, i think he had to prove that i think actually, this contest is going to focus it more on bide versus trump and that is good for biden. Just to go back to your point i think that the democrats actually need to coalesce around joe biden i was you can toing to staefrl democrats they said if Elizabeth Warren gets nomination they are not going to vote for president because their markets focused they can show would be terrible for economy fascinating to hear them say said she wants the take out equity banks to account. I talked to nine democrats that are markets focused, eight out of nine said they wouldnt actually vote for Elizabeth Warren they wouldnt vote for trump so they that is a big worry because that is where a lot of money comes from, during elections cycle what is your take on that. Coalesce democrats not something would i use, at the moment, i think, democrats go through primary process, and vet this out i think going to have to happen here, and remember, democratic primary candidates famous for left in primaries, right in general see what happens here. We will leave it there mark good to get insights thank you so much coming up strike against General Motors costeding gm estimated 100 Million Dollars a day company not only one take stag hit live to detroit with a closeer look at Ripple Effects. Areaa of health care i sit down with Energy Secretary rick perry action sandy while on joent effor joint efforts va advance a. I. At fidelity, we believe your money should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Of the value youll find at fidelity. Im working to make each day a little sweeter. Adp simplifies hr, benefits, and payroll for magnolia bakery, so employees like sarah can achieve what theyre working for. Were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Strike workers not the the only ones feeling pain fox business grady is in detroit this morning. Reporter hey maria talking about the Ripple Effect of this strike, and this is one of the businesses affected main Street Restaurant just a couple miles from the detroit facility where weve been bringing live reports i want to bring in owner nick tell me what it would be like normally this time if strike werent happening. You see one picket right now all these wracks would be full of yellow tickets going to factories, or other factories smaller ones that indicateser to gm plant. For the most part, crippled the workforce basically had to do a lot we are a busy restaurant, it all of a sudden stopped we lost 70 to 80 Delivery Business affect our inside business, from waitresses waiters everybody else. You had to cut delivery drivers hours because workers do a lot of delivery orders not ordering. Exactly, and this case if we do have any orders that are are going my brother mario, to delivery cutting back on the ladies on the phone, whether wasted. You are affected by this directly what would you say to both sides who are you know kind of dragging this mon. Honestly, i get both sides one side has to indicator to investors one thing, but the working, they want their wages their health care, if you guys could come to agreement would help us, and everybody around the community. So try to work whatever problems you got have a drink before you negotiate i think that will help, you know. Thank you for your time i dont know about that advice maria but we certainly wish them the best here at the restaurant. As do we grady thank you so much, in detroit, coming up power of Artificial Intelligence, i sit down with rick perry former citigroup chairman ceo sandy weill on efforts to advance Artificial Intelligence for era of medicine. Americans squirrelling away more than ever experts warn not necessarily a good thing we tell you why when we come back. Were gonna with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Americans saving more than theyve been spending wealthier could be leading the way the personal savings rate from 3. 7 in 2007 at height of the housing bubble to 8. 2 first seven funnies of this year Ramsey Solutions financial expert author of everyday millionaires chris hogan great to see you. Good to be with you good news you always say we need to sock money away before we start paying for other things, are you happy with savings rate above 8 . Part of me says yes people are hearing me they know what is important to get out of debt when you get out of debt give yourselves a raise take next step buildings Emergency Fund to 6 months expenses that is what one part of me says, the other part of me says, that this article is simply looking through lens of big business, not necessarily real families. What i mean by this is it talks be wealthiest people starting to save more, or maybe invest more. I dont think this is indicator of people on main street it says that 38 of people dont have Emergency Fund, i know without a shadowed of a doubt 64 americans cant afford 500 dollar emergency in cash, so obviously, people are not saving enough, so we still have to keep pushing them. Let me ask you do you think the trend is americans are becoming more responsible, or do you think same time worried about a recession looming ahead . And at the same time all kind of surprises me Interest Rates so low, savers have been penalized forever for holding on to that money. I think you bring a good point fear of regs causes people to begin to take action, so hopeful people that lived through things that we dealt with in 08, 09 understand i to meed to be prepared but would i much rarity people get focused get themselves out of debt first together, attacked credit cards car loans then saving three to six months expenses. What you do you make Household Debt going up mores significantly than we have seen in past what is your take current Balance Sheet of every day american every day millionaire. I can till Balance Sheet every day american still got 80 people still living paycheck to paycheck, so kevin people are not acting fast enough, people are when they try to get out debt looking i will do it when i can. I want you to sprint getting out of debt not math it is momentum i you want to make sacrifices to budget, than us hey this is a tlooet to my future and dreams i talked about this on my show the chris hogan show i am talking to people that are waking up and hearing this, and make changes. The problem is that we are waiting on government to save the day, we have to get our own we have to have plan for ourselves and our family, right now. Chris thank you for being with us in 2005, 6, 07 housing dhaebt time Credit Card Debt does it surprise you Savings Rates ticked up Credit Card Debt exploded last decade. Has been there a threat for 25 years continues to grow not the only Credit Card Debt when we look at Student Loan Debt 1. 6 trilliondollar time bomb on our hands the fact Student Loan Debt if we take Consumer Debt credit card car loans student loan people feeling more buried up to eyeballs in debt i am trying to show how to dig their way out one step at a time. We will leave it there chris also a great insights from you thank you so much sir. Thank you. Chris hogan, newer era for health care Energy Secretary rick perry former citigroup chairman ceo sandy weill will join me next discussing Artificial Intelligence in men. Ceo weaving in on how he kept a Larger Department store successful despite recent woes and tariffs, back in a minute. Life changes you cant stop it you never know whats making plans i knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Val, vern. Im off to college and im not gonna be around. Im worried about my parents retirement. Oh, dont worry. Voya helps them to and through retirement. Dealing with todays expenses. Like college. While helping plan, invest and protect for the future. So theyll be okay. Without me . Um. And when we knock out this wall imagine the closet space . Yes oh hey, son. Yeah, i think theyll be fine. Voya. Helping you to and through retirement. Welcome back, top story this half hour a. I. Health care, part of my one hour a. I. Special airing tomorrow on fox business, i sat down with ibm ceo rometty about investment in health care and Artificial Intelligence. We have been big investor in health care, and a real believer this is a long road, but this is one of the industries so badly in need of a. I. , it is difficult for a doctor the amount of date, and so weve been working on health and particularly worked on oncology from early things now 300 hospitals over 125,000 patients around the world. A. I. Has helped the doctor, identify the diagnosis, appropriate treatment things that you didnt realize before how infrequently they were done or not done with precision. My next guests making Major Investments in the field the sandy Weill Family Foundation teaming up with u. S. Department of energy to invest in a. I. Technology, to advance bomel research joining me praltz Energy Secretary rick perry and former citigroup ceo sandy weill we go back a long time you have a history donating giving back to health care institutions, thank you for a lifetime of doing that number one. Number two, secretary what tell us about this partnership you are sitting Energy Secretary and trying to do a Public Private partnership here. What we found, couple years ago is that we were in about third place on Super Computers Administration Made commitment that is not good enough whoever gets to quantum computing first wins so this administration, now has increased funding by 45 on our Super Computers i was out university of california San Francisco again where sandy has been a great extraordinary benefactor from standpoint of the those universities neuroscience school, and it started making some sense that we would o be able to have a Public Private partnership with the Weill Family Foundation and doe, be able to Work Together to create a focus on in this case mental health, traumatic brain injury can say compression answers to questions we didnt have computing capacity to answer. Such an important point that you are making for so many years, we donated put a lot of time money in energy into things like Heart Disease figured out that, you know, eating poorly can cause diabetes figured out smoke causes cancer started to change behavior we dont know enough about the brain, and to focus on the brain really important sandy this has been something important to you for years, i know what of you done here in new york, New York Presbyterian Hospital tell us what you are trying to do. What were trying to do i think will do working at department of energy, is to be able to look at a thousand times more information in a very short period of time so information is really important to the doctors seeing it in real time rather than weeks later where it is not nearly as valuable, also i think, you know quantum computing, is going to be important in all different areas whether energy, or health care, or really being able to examine what the issues are and being able to go through a lot he more getting ahead of it coming up with a prediction. On climate, this is a great example where real science can come in help make nigs earthquake predictist, on brine if this happens here is what you can expect to happen, for instance, we are seeing some great work being done, on traumatic brain injury again because of what sandy and his foundation is doing out at ucsf in california dr. Jeffrey manly, come up with a device maria, take a drop of your blood, even if mri does not show a concussion he can tell whether or not you have been lifechanging stuff done with partnership ucsf dr. Manly Abbott Laboratories that is type of cuttingedge technology that is going to come out of this Artificial Intelligence, effort, it makes complete sense for doe to be involved in this effort because the Super Computers four of fastest superxrz in the world belong to department of energy. In my special i joke with bill joy in 1999 going into 2000 wrote article for wired magazine the title was why the future does not need us. Talking about Artificial Intelligence. Now he also said in the special, that the machine can look at a million eyes, and in milliseconds understands when eyes are disease what had can be done in terms of getting ahead of disease saving peoples lives where you are going with this secondly what about people worried about this that a doctor is going to be replaced with a machine, that their jobs are going to go away . There will be some jobs that go away. But like all things in this like autonomous revolution we are participating in. New jobs created. New jobs will be created standard of living many become better. Manufacturer back in the 20th century. Going to take its place when you look at 1999 we didnt know half jobs that are very good jobs today didnt know about code rz people organizing mining data, you know new jobs created from revolution as well. Human beings are still going to be very much at epicenter of new innovation technology. What should people know have to arm themselves with right information so they are not out of a job out off a career. I think ought to be excited about potential changes that are out there. For me that is what this is exciting time this is about American Innovation American Technology nobody else is going to do this the way we will i can promise you, that the potential for new jobs, but places for you and your health when you think about, the challenges that are plaguing us whether cancer, great confidence i say that Artificial Intelligence in the cure for cancer in there somewhere going to be faster than what we think because computers are changing exponentially the speed at which we are working together he so all of government is working together on this, we are focused in on the department of energy, as place where a. I. Because of the computers but we got a partnership with va, and million veterans program, we got a million veterans volunteering to give sample of their blood we go back in, and then we can tell this massive amount of information, about veterans they are out done their duty we are going to tell them, you got a real project a real possibility of Prostate Cancer youve got Breast Cancer regina from mit, and she had braest cancer a survivor now come up with a. I. Powered system, that can predict Breast Cancer cells five years in advance what are doctors saying you are in touch with all doctors are they happy to have this additional work. I think they are more than happy they are thrilled you asked what do we do to train our people, we have to get more women and minorities to take up stem education, when they are in high school. So that they are trained in coding they know the new jobs, new jobs pay a lot more money, than the jobs that they than get without going to college i know right now mit, ibm pwc have come out with reports on future of work trying to explain to people what what they need to do in terms of arming them with right information to thrive in this new a. I. World it is life cha changing. Conventional wisdom gets it wrong there is people out there make a living scaring folks on complimeclimate a. I. W it is may not be particularly armed with good information but the future is exciting to me. A. I. , is one of the opportunities, that we have to be able to do things, with our computers to be able to save our childrens lives or make their lives better for me that is incredibly exciting, and the department of energy, sandy weills foundation, by the way, i want to Say Something about this guy, he is he is a great partner. I think some 60 Million Dollars he and Family Foundation given to pay off the debt, of young men and women who are going into medical practices my friend robert smith, gave a huge amount of money, to moorhouse college, they see are the types of people who because america and because america is as incredibly great and opportunistic place, these are the things we are all working together, on. He has been doing it for a long time. Future good because of that sandy. Thank you. Thank you, and i i think we have to become a leader in this, because the the country that has the best computers the best scientists will be the country that ends up being ladder in this world. I think you make a really important point because i know the president has or a marked a billion dollars for a. I. First president to put it in the budget i get that but china is spending much more so compare where we are on a. I. To where china is china is using it in different ways, like, for example, tracking their citizens. Um facial recognition debatable. What do you want to get to quantum computing first. Right. I suggest it needs thooeb the yu stated for a lot of reasons. You want a democracy to be getting it you the leading super important i of the world being a communist country the conversation we are having, today. We have to improve our whole Education System to make this work we have got to have everybody a participant, in the economy of the future. And not be taught about economy of the past. Goes back to education. Correct. And again conventional wisdom has gotten it wrong so many times 2005 told us we found all oil and Gas Resources in any case a bit of a change. In a different moment right now while i have you let me ask you about saudi iran convict european leaders are convening here in, no, at u. N. General Assembly Secretary your reaction to what took place on saudi oil fields, and the u. S. As i guess better equipped today than it has been in a long time. Well, may be ever. And the key here is that yes, we saw bump up in cost of crude. I think you know west texas intermediate 58 dollars a barrel had this happened a decade ago he we would have gone through a hundred dollars in a few days americas ability to to fill the gap here, america producers should give our country and our allies, great great good feelings of confidence that america can fill in needed supplies at the same time making great progress in other areas of Energy Nuclear energy for instance we happen to think that small mined reactors zero emission types of energy under president we have seen 90 increase in Renewable Energy in this country there is a lot of Great Stories going on out there iranians, individuals who dont want to live under the rules of of common good decency they need to be held accountable that is what this president is doing. Sandy we havent seen in you a while your take on the economy right now i to me you are giving more money away these days, than taking any in. More fun. You are having more fun. I am. Tell me what your reaction is have to the economy today, what you are seeing out there. Economy is in very good shape Everybody Knows employment numbers unemployment numbers are very, very low. I think we have to figure out a way to make this world a better place and have u. S. And china get along better and understand each other better so i think if we can resolve these issues issues we should be able to, i think the economists the economy really, really will do very well. You have worked hard your entire life youve created an empire for yourself and given it away but a major talking point of the Democratic Party right now in the primary is taxing the wealthy, vermont senator Bernie Sanders looking to outdo Elizabeth Warren his wealth tax is higher than Elizabeth Warrens wealth taxing would with apply to neither worth above 32 Million Dollars raise stilted 4. 5 trillion dollars next ten years what do you say to that sandy. I will give my money away before they get it [laughter] give it away good for you seriously it is a very different innovativephilosophy t you hear from democrats and what you hear from President Trump. Socialism hasnt worked anywhere President Trump is going to be a very loud proud supporter of capitalism, and we will let the other side defend socialism. Yesterday i was at a meeting actually i was told income inequality is going down right now do you have confirmation of that are you seeing the inkok inequality tightening i was told by the Trump Administration it has gone down. Wages are going up, i mean, so that is helping the very low end of the scale, that is going up faster than inflation now. Good thing. One key reason. Greet to talk with you both sandy weill good to see you rick perry Energy Secretary great to see you thanks so much thanks for all what he is a great man. Greet to see partnership, and be sure tune in for my special one hour presentation, wednesday night Artificial Intelligence, the coming revolution tomorrow night 9 00 pm eastern right here on fox business, where we identify, the industries that are getting affected by Artificial Intelligence. Coming up Bernie Sanders roll out wealth tax plan giving Elizabeth Warren a bit of a run for her money Stuart Varney has a thing or two to say about that he is up next luxury retailer, remaining one etch Worlds Largest Department Stores even amid recent retail woes, we are joined on set with secrets to success. Warfare back in two minutes time, stay with us. Is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. [ soft piano music playing ] mm, uh, what do you do for fun . Not this. Oh, what am i into . Mostly progressives name your price tool. Helps people find Coverage Options based on their budget. Flo has it, i want it, its a whole thing, and shes right there. Yeah, shes my ride. This dates lame. He has pics of you on his phone. Theyre very tasteful. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Outdo Elizabeth Warren this morning with his own wealth tax joining me host of Varney Company Stuart Varney stowaway in a billionaire to react to it sandy weill. Let me address directly to the wealth going to fleece you simply as that taxation coming down pike if we get a president a warren if we get a president Sanders Bernie is oneupped Elizabeth Warren. He would now introduce a wealth taxing 1 above 32 Million Dollars net worth 2 from 50 million to 250 million way up from there my point a new form of taxation a terrible idea, will simply take money off one group and stop them innovating investing in productive technology, of facilities give it to another group to pay for all social services Elizabeth Warren and Bernie Sanders want to introduce. It is a rotten idea, even though it may be temporarily popular it is a rotten idea i hope dear lord it does not happen does that conform with views of the billionaire on your set. I would say so he said he is going to give all his money away before they can take it you were very clear they will flees you bottom line i think very good you were very direct i know you have more in 10 minutes. Stuart varney top of the hour dont miss Varney Company every day nine a. M. Eastern after mornings with maria retail arrival mason ceo joins me on set how he kept one one of the he worms Largest Department stores a success despite retail woes for other Department Stores hes next, stay with us. New morning [ sigh ] not gonna happen. Thats it. Im calling kohler about their walkin bath. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Welcome back big business retail Fortnum Mason popular london based grocer supplier to Royal Household in business more than 300 years into a british institution. The company specials in luxury, Food Products home wares the ceo Fortnum Mason, great to have you how is business every day talking about Department Stores are weakening, while people go online, characterize business. Stronger than ever seven years built out fulfill store businesses, as well as online sales reach 110 currency in the world differentiator great quality products, tasters about fantastic desirable for consumers ought to do well. What is impact of tariffs on your business. Nothing we can see at this stage ultimately tariffs will lead into pricing you know eventually will pass on the consumer tort moment not affecting our operations if anything, the pound quite weak strengthening our business from tourism perspective in london American Consumers shopping online, second biggest market new york city most important for Fortnum Mason. Com. Can you talk about tastes preferences, do they want packages day days or less we are seeing lot of stores trying to draw in customers gateway to them. Business is about picadilly flagship satellites around london recently opened in city of london, and november this year in hong kong so these strategic outposts as you might call them, engaging consumers awareness, including restaurants very important part of it. You are in hot button places, you are about to open in hong kong two million protesters to streets last year britain Supreme Court this morning ruled that Prime Minister Boris Johnson suspended parliament when heed by that that was illegal you have got the brexit showdown in london uk, and then hong kong how is this affecting your business. Ultimately best in the world cup of tea sells more things. Seriously do you think brexit is going to happen. I think Brexit British people should happen, why not . How it will happen will continue a very different shape you are observation about hong kong in hong kong a lot not a city under siege as portrayed in media people going about every day lives shopping eating got youing to life isnt as bad as he it appears on camera. Interesting take. You dont believe all brexit chaos maria ato do products are quintessentially british all chaos you dont think big picture affects the british pound. I dont think so it has been 12 years our products authentic beautifully made most made in britain. We will leave it there congrats on keeping up the growth atf Fortnum Mason. Well be right back. At synchrony, were changing whats possible every single day. But what does changing whats possible mean anyway . Well. If you run a business, it means a lot. For starters, we provide you with Financing Options for your customers. That way, you can help them buy the things they love instantly and pay over time. And that turns them into serious fans. Hang on, theres more. Want Customer Insights . Weve got those, too. We use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. And you can offer them the perfect products. That ceo gets it. From adding unique capabilities to your companys apps to bringing you loyalty programs, our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Maria have a great day, everybody. Varney Company Begins right now. Stu, take it away. Stuart good morning, maria. Good morning, everyone. You have to watch this. The fascinating interchange of money, politics and international diplomacy. Its all happening today. You are going to see it all. It starts around 10 15 eastern. The president addresses the u. N. General assembly. At this point, we do not have advance word on what hes going to say. Hes likely to touch on iran and the mideast, relations with china and maybe a repeat of his appeal for religious freedom. You may think that america with donald trump as president is isolated, almost friendless. Not so. Japan, india, britain, brazil, saudi arabia, israel and many more are in americas corner on