Announced a dramatic shift in u. S. Policy in the middle east. Well bring all the breaking headlines and reaction from danny danone, israels permanent representative to the United Nations coming up later in the hour. Plus it hasnt been out for a full week but your disney plus account may already be compromised. Then there is ford. Betting on electric. The risky move the automaker is making with its new mustang. Melissa we have fox Business Team coverage. Blake burman at the white house. Kristina partsinevelos, on the floor of the new york stock exchange. Phil flynn is watching oil at the cme. Edward lawrence with the latest on trade talks from d. C. We start with kristina. Starting with me instead of Edward Lawrence. What well talk about is the hp deal. A lot of people were talking about rumors that xerox wanted to buy hp. Unanimously hp board decided to reject xeroxs bid. In . They think it is way too low at 22 a share. It undervalues hp. Youre thinking similarities between the two portfolios. The end of that relationship. It could not be. According to hp in the statement, they said were open to exploring whether there is value to be created for hp shareholders. There is few analysts like Credit Suisse putting out there, maybe a combination for the company as they continue to restructure, to overcome the loss of revenue. Switching gears completely. I want to focus on kylie jenner. Why . She makes a lot of money. She has a Cosmetics Firm that brought in 177 million in revenue this year. Thee is selling a huge stake, 51 to coty, the new york based cosmetic firm that owns cover girl as well. They say they are keeping kylie jenner on board as creative agent, creative leader, you dont want to get rid of somebody with 150 million instagram followers. Kiley cosmetics going to coty, 51 . Melissa kristina, thank you. Connell working towards a breakthrough. Chinese officials confirm trade teams in beijing and washington held what is described as constructive talks over the weekend. Lets go to aforementioned Edward Lawrence with all of that. Edward . Reporter the two sides are trying to get the language right between the chinese and u. S. The chinese indicate the talks are ongoing. In a statement about the phone call the Chinese CommerceMinistry Said this, quote, the two sides have engaged in constructive discussions around the respective core concerns of the first phase of an agreement that will continue, and they will continue to maintain close communication. If you follow the timeline laid out by President Donald Trump the deal would have been signed this past weekend. Now as it stands, theyre still talking about getting that phase one language right but the goodwill continues. The chinese recently made large soybean purchases. Also lifting the ban on poultry. U. S. Trade representative Robert Lighthizer says that industry alone could represent one billion dollars in trade for u. S. Farmers. Today, we were the first to tell you the Commerce Department announced a 90day extension for the temporary general licenses to sell to huawei. Those temporary general licenses were set to expire tomorrow. Now companies can continue to sell to huawei through february 17th of 2020. A spokesperson for huawei says, regardless, the u. S. Is treating the company unfairly for still being on the entity list. The statement goes on to say this, quote, this has done significant economic harm to American Companies which huawei does business and already disrupted collaboration and undermines the mutual trust on which the Global Supply chain depends. Still this could be seen as goodwill from the u. S. Because huawei continues to get the technology it needs from American Companies to keep going. Connell . Connell Edward Lawrence on the trade beat in washington. Melissa the worlds most valuable company apparently saudi arabia putting a 1. 7 trillion price tag on its state oil company. Lets go to phil flynn at the cme. And, phil, it does fall short of the crown princes hopes after two trillion dollar valuation for saudi aramco, but hey, what can you do . A trillion here, a trillion there, right . I tell you this, the market didnt like that fact. In fact what the market didnt really like was the lack of Foreign Investment interest in this ipo and that is one of the reasons why saudi arabia pulled back on that a little bit today. They canceled one of the tourses where they would try to raise interest on the ipo. Theyre giving up short term on oil investment. The oil market didnt like that today. Oil prices seemed to pull back on reports they canceled that in part because they believed that maybe saudi arabia might have less incentive to juice up the price of oil. That was one of the speculations that caused a little bit of the selloff in the oil price today. That remains to be seen but we have a big opec meeting coming up in early december. The other thing i thought was interesting on the whole ipo situation, even as the valuation you still get a better yield with exxonmobil or some of these other Big Oil Companies here in the United States. Melissa thats really interesting, phil, you know i also wonder why is it at this moment that saudi aramco wanted to do the ipo and cash out . Theyre sitting on all this oil. Not that they need the liquidity. Go ahead. No. I absolutely agree with you, they really do need the liquidity. When we saw crash in oil prices they used a lot of saudi aramcos money to power the government. When prices really crashed last year they were leaning the wrong way. This is desperation. There is some thought saudi arabia really want to get away from oil in their economy. The prince has a vision 2030 plan which supposed to get them off of oil. Might be admission by saudi arabia concern about peak demand. Maybe demand for oil wont be what it is a few years from now. Melissa it has to be that. The only thing that makes sense. Sure does. Thank you. Connell thousands of protesters in hong kong flocking into the poll at the Polytechnic University where Police Forces surrounded the campus. Hundreds of protesters are trapped inside and inside for day, trapping the students. 400 have been detained. The number since sunday. This is more violent and chaotic since the protest began in june. Dean churning heritage foundation. Does this surprise you what happened the last few months, boy, what do you expect to happen next . No, unfortunately it hasnt been, sr. Pricing. Were watching both sides take ever harder position. Well see what happens if the hong kong authorities hold district elections this weekend. There is some real question about that either way it looks like with the police besieging the campus, with people firing arrows at the police, with casualties among protesters with growing violence i think were in for a very ugly several weeks if not months ahead. Connell looking at Chinese State media coverage, a few headlines from the peoples daily, said there was no reason for commentary for compromise with protesters on television. On cttv a comment aired, said any attempt to oppose china to cause chaos in hong kong will never succeed. You wonder whether the pressure is now building to end these protests by any means necessary . That the pressure on the police there to just get this thing over with, what do you think . I think on one hand we have xi xinping also bringing up the hong kong issue while he is abroad this is very rare sort of thing. Chinese only typically comment on domestic events when theyre at home. The chinese are well aware in this connected world especially like hong kong, rolling the way they did in tiananmen, almost exactly 30 years ago at that would devastate u. S. China trade talks, chinese diplomatic effort and upcoming taiwan elections in january. Connell even if it doesnt become a repeat of that Tianamen Square will hong kong ever be the same . We have definitely crossed the rubicon in that regard. Hong kong police have used firearms in a way almost certainly sapped their credibility. Students, many have become much moderate alizeed and beijing is looking at this, almost certainly thinking to itself is if it is like this right now, what will it be like in another 20 years when hong kong fully reverts under prc control . Deirdre were watching on daytoday basises especially okay weekends. Thank you for the analysis dean. Melissa President Trump sitting down with Federal Reserve chairman Jerome Powell at the white house today. Only the second meeting between the two since powell took over as fed chief. Blake burman is at the white house. Blake, this was facetoface instead of twitter. Reporter it was. Good way to put it. One of those fly on the wall type moments we get every now and then at the white house, melissa. President trump sitting down with jay powell earlier today. Also in the room, treasury secretary steve mnuchin. Im told larry kudlow was a part of that meeting as well. In a statement the fed said that the president invited powell over here to the white house. The two talked about the about economy, employment, growth, inflation. Afterwards President Trump provided his own readout of the meeting, took to twitter. Said quote, just finished a very good and cordial meeting at white house with jay powell of the Federal Reserve. Everything was discuss, i had concluding Interest Rates, negative interest, low inflation, easing, Dollar Strength and the effect on manufacturing, trade with china, eu and others. Interesting the president said this was cordial, there is arguably no bigger target for the president than powell. For example, last week at the Economic Club of new york the president said the fed has suppressed stock market records. If we had a Federal Reserve that worked with us, you could have added 25 to each one of those numbers, i guarranty you that. That doesnt happen. [applause] but we all make mistakes, dont we . Not too often. We do make them on occasion. Reporter meantime here in washington, week two of the public hearings of the impeachment inquiry will kick off tomorrow. Eight witnesses tomorrow will testify throughout tuesday, wednesday and thursday. Those four on your screen there in two different sessions. Tomorrow, the headliner we expect going into this, melissa, Gordon Sondlands u. S. Ambassador to the european union. He will testify on wednesday. Melissa. Melissa blake, thank you so much. Im glad larry kudlow is there. He is able to smooth things over. He is a gentleman. Yes. Melissa that could have been a little uncomfortable otherwise, maybe that meeting . Connell i think it had the potential being uncomfortable larry or otherwise. Outlining a list of demands. Well continue with House Minority leader Kevin Mccarthy over the Networks Decision not to air a story on Jeffrey Epstein years ago. Well break all that down. The legal fallout on that is coming up later in the hour. Melissa plus an escalating fight. Fedex ceo fred smith is calling out the New York Times about the story about the companys tax bill. Fred smith is firing back. Connell taylor swift battle with her former record label is now spilling over into the political arena. Elizabeth warrens latest comments arere next. 67 cents stays local. Shop small and watch it add up. 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Connell fedex challenging the New York Times to a debate. Susan li in the newsroom with details on the story. Reporter we do have fedex, and fred smith throwing down the gauntlet, lets debate this in public. Who pays more taxes and who reinvests in the u. S. Economy after the New York Times report this weekend, front page stuff alleging that fedex despite the fact they had their tax bill cut from 1 1 2 billion dollars in 2017 down to zero for 2018 they actually cut their Capital Investment back into the u. S. Economy. So effectively they went from 34 tax rate down to zero which fred smith and fedex firing back over the weekend saying well, actually the New York Times paid zero as well in 2017 and they cut by the way, their reinvestment back into the u. S. Economy by 50 in 2018 to just around 57 million or so, which is a rounding error for the 6 billion that fedex actually has invested into the u. S. Economy. Now fred smith of course, throwing this gauntlet, throwing the challenge to a. G. Sulzberger publisher of the New York Times. Lets have the open debate. You bring your Business Editorial editor and i will bring my head of taxes as well to see who has been investing back into the u. S. Economy. Guys . Connell like it. I like it. A debate moderated by Melissa Francis no doubt. Melissa yes. I love it. I will declare who won as well. I want all the power. Here is dan hen henninger from wall street journal and a fox news contributor. There are couple elements of the story i absolutely love. I love fred smith hitting back. The New York Times writes a story, puts out a statement, puts it on twitter, puts it everywhere, he doesnt attack the New York Times their report something wrong, hey, kettle, who is calling black here. Doing the same thing as we are. What did you think of that . That is wonderful. We know fred smith is no shrinking violet when it comes to this sort of thing. It is great he is standing up for the private sector. Here is one of the greatest entrepreneurs arguably in the history of the country. The number of employees employed by fedex worldwide is 425,000 people. I mean fred smith and fedex are supporting nearly half a million people, they have been doing it for years. So you got to ask yourself, which would you prefer . A world of private Sector Investment of the sort that fred smith represents or what the times seems to want, to transfer most of their Corporate Tax income to the federal government and let them make the choices. That seems to be the debate fred smith wants to have with the New York Times. Melissa not only at that, the premise of fred smiths business about expanding the economy. It is facilitating all these other businesses. Momandpop, everyone else making money by delivering goods from one place to the other. He is not just supporting his own employees which is huge in of itself. He is also, the lifeblood of the larger economy. Another thing i think is interesting, whenever they have the debates about companies not paying their fair share of taxes this, that the other thing, theyre all doing it legally. Theyre doing what the government has set up for them to do with their profits through the tax law. I mean if you want to fault somebody for how the system is working, why dont you go to those chuckleheads in congress who are responsible for writing legislation . What do you think . Well, i mean, congress indeed passed