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tv   Mornings With Maria Bartiromo  FOX Business  April 4, 2019 6:00am-9:00am EDT

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night i had. i was about to start an exclusive interview on the telephone with the form earn nissan ceo when all of a sudden 10 agents stormed into his apartment and arrested him. took him away in a car. i will tell you all about it, the full story coming up. new details this morning in the ethiopian airlines crash, preliminary results of the investigation blaming boeing 737 max flight control systems for the fatal crash. tesla deliveries head in reverse, the automaker reporting a decline of 30% in the first quarter. the securities and exchange commission case over elon musk's tweets is headed to court today. consistenconor mcgregor may comf retirement. the tweet that is sending shock waves this morning. "mornings with maria" begins right now. ♪ i've been shaking. ♪ i love it when you go crazy.
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♪ you take all my inhibitions. ♪ baby, there's nothing holding me back. ♪ you take me places that tear up my reputation. ♪ manipulate my decisions. ♪ baby, there's nothing holding me back. maria: and good morning. the markets this morning are showing declines. take a look at futures, edging lower with investors foes cussing on the u.s.-china trade talks as authorities in japan re-arrest carlos ghosn early this morning in tokyo. ghosn is facing new charges of financial misconduct. he denies any wrongdoing. i spoke with ghosn this week. he said in a statement last night, my arrest this morning is outrageous and arbitrary. it's part of another attempt by some individuals at nissan to silence me by misleading the prosecutors. i will not be broken. i am innocent of the groundless charges and accusations against me. joining the conversation this morning is dagen mcdowell, the wall street journal assistant editorial page editor, james
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free man and erin he'l elmore. we scheduled this interview with carlos ghosn at 5:30 p.m. last night. i came back to work,ism sitting there, getting ready for the interview. i'm texting with his lawyer, his lawyer says okay, he's going to be calling in momentarily. now it's 10 until 6:00. we're waiting for carlos to call in to discuss the interview. i had already spoken with carlos ghosn over the weekend on saturday and he discussed the charges, told me everything that you've heard here first for the last 100 days, that this was a coup, he's denying all of the charges and saying that he is innocent. all of a sudden, i get this text from the lawyers, 10 agents just showed up, they took him into a room, they're in the room alone with carol, his wife, carol and carlos ghoan th ghosn in the roh prosecutors, talking for a few minutes and then we see them take carlos in the car and drive away. they took him to the prosecutor's office and they
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intear greateinterrogated him. we were unclear if he was going back in detention or if they would question him. agents started interrogating his wife, carol ghosn. part of the reason is because as you remember, he put out that tweet a week ago, saying i'm going to -- it's time for me to tell the truth, to tell everyone what's going on, that he wanted to give a press conference, he was expecting to give a presence conference on april 11th. they did not like the fact that he was going to discuss publicly, i believe, his phones obviously are tapped, the phone is a phone from his lawyer and i believe they are probably tapping carol ghosn's phone as well. because they probably knew that he was about to talk to the media. he was going to do this interview with me. and so they went right when we were going to do the interview, at 10 until 6:00 in the morning. then they went back, they intier interrogated carol ghosn. she wanted to go to the bathroom. they went in the bathroom with her. she wanted to take a shower, a
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female prosecutor stayed in the bathroom n. the shower, while she was in the shower, taking a shower. they want to break him. the judicial system in japan is such that they want a confession on all of these charges, something that he is refusing to give. this is an extraordinary situation, it's getting worse. he is once again behind bars. he could be there another -- he could be there 10 days and they could add another 10 days to it, meaning he will be there another 20 days before he can apply for bail to come out before a trial. all carlos ghosn is asking for is a fair trial. it doesn't look like he's going to get one. >> in japan there's a 99% conviction rate. the odds are really stacked against him here. he's also asking that the other defendants, his colleague, greg kelly and nissan will be in a separate trial so he will get a more fair trial. what i heard from japanese legal experts is that once you've been released on bail once, you're not like throw be arrested once, twice or three times which
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happened to him here. the odds are stacked against him. it doesn't look good for him. maria: he wasn't going anywhere. he was not a flight risk. he was in an apartment that was approved by the japanese government. he wasn't violating any parole but they went and they took him. this new charge they're trying to make is that he sent money to a company in ow oman jordan and then they paid him to buy a yacht, to spend money on personal items. that cannot be proven. money is functio fungible. there's no way to say the money paid to this dealer in oman was the money he used to buy this yacht. it's a hard case to make. his team believes that one of the reasons that they went back to arrest him overnight is because their case is falling apart. now, carlos ghosn told me on the phone over the weekend, the reason that this all happened, this coup happened underneath him is because the company was not doing well. the company was collapsing.
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his underlings thought they would be fired and that he was going to merge the company with renault. he told me he wasn't planning on merging the company with renault. however, he was planning a lot more consolidation and he was in fact having to fire people. he had to consolidate because the company, if you look at the stock chart, if you look at the losses, if you look at the decline in revenue, the company was not doing well. i don't know how nissan does any better. i mean, i'm sure there will be activists that want to boycott nissan, boycott japan. for a foreigner operateing in japan, what does this look like to you, james? this is extraordinary. >> you had a situation where the japanese managers at the company did not want him in charge, did not want to be run by a european company. so i think that's one of the big questions about this case. along with obviously a lot of people as they got to know the japanese legal system over the last several months, seeing how long someone can be detained
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without access to a lawyer, pretty shocking. but also this question of why now, why -- he's been running the organization for years and then all of a sudden when they see this potential consolidation of power in europe, not in japan, the japanese executives come up with these charges against him. very sus. maria: they're coming up with reasons to question carol ghosn. they took her passport. they took her phone. she no longer has the phone. he no longer has a phone. they said sources close to carol said that they wanted her to voluntarily answer questions. when i wanted to use the bathroom, the officer entered the bathroom with me and did a body check. when i wanted to take a shower, a female prosecutor stayed in the shower with her while she shourd. they wanted to humiliate and intimidate her and they want to
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intimidate carlos ghosn into confessing. this what is this is all about. let's break him so that he admits to all of this, then he can get out. all he wants is a fair trial. dagen: where is the global outrage about this, about any ceo, whether it's one in the united states or in any other nation that does business in japan being outraged. the backs of their heads should be blowing off in rage, quite frankly. what does this say about the abuse of people, of the non-japanese, and i pointed out, this is a cultural problem, not just the judiciary system. carlos gone an ghosn and his fae targets because they're non-japanese. how is it possible in a developed nation that you have a prosecutor who follows the wife of someone under arrest into a bathroom, does a body search of that individual and stands in the bathroom when the wife showers. this is almost beyond
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comprehension. maria: it's bar bab a aric. insiders told me there's a fight going on between the prime minister's office and the pros cue'prosecutor's office. the prime minister's office is saying why would we re-arrest him. the prosecutor's office says this is my situation, i want carlos ghosn to admit this and they went forward. there is back and forth between the prime minister's office and the prosecutor's office. they have different takes on how to proceed. i think it's because of what you mentioned, the global reaction to this. where are the global investors, where are the global ceos to say this is wrong, stop this treatment of carlos ghosn, particularly since over the years he's been hailed as a superman for rescuing nissan. he was a comic book character. they've written books about him and stories about him, about what a strong leadership
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position he has taken in the company. >> we'll see. i mean, eventually this will get tried. there will be public disclosure, a lot of which there hasn't been to this point. we'll see if they can make a case. but i think in the meantime, to kind of reassure people, especially people looking to do business in japan, prosecutors might start by explaining what they're doing. i think to someone looking at it from afar, you don't understand the possible reason for this shower episode. i mean, what is the just a justification and what is the reason, what is the theory that requires this kind of intrusion into, again, a relative of the accused, not the accused. dagen: i'm guessing. i'm guessing. they're trying to put more pressure on him to cut a deal, 99% conviction rate. number one. number two, they're trying to make sure that his story doesn't get out to the world media.
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maria: that's right. dagen: they're taking phones away. they're putting -- they're intimidating his wife. they're trying to make sure that the rest of the world doesn't find out what is going on within the japanese judicial system. maria: which is why they started -- rumors were circulating that he would be re-arrested yesterday before they showed up at the house because he was talking about giving a press conference on april 11th. i'm sure because i was communicating with them through the wife's phone, they probably had her phone tapped. it's too coincidental they show up right before we were to go on hour. dagen: why was he re-arrested at that moment. that's the why now. maria: we want answers from the prosecutor's office and we want to understand why a female prosecutor had to stay in the shower when carol ghosn was taking a shower and be in the bathroom when she was in the bathroom. what is going on in japan.
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we'll cover it here. the wall street journal has done incredible reporting on this this morning as well. a preliminary report on the ethiopian plane crash meanwhile is taking aim at boeing. cheryl casone with that story now. cheryl: just getting that breaking news in the last couple hours. this report is critical of boeing's instructions for the updated 737 max 8 jet. it found, this is an ethiopian report, that the jet repeatedly nose-dived but it went down and the flight crew performed all procedures recommended by boeing but were still unable to control the plane which kept nose-diving over and over. investigators blamed an anti-stall feature on the 737. that has been a focus of this global investigation. the report from the ethiopians recommends that the flight control system be reviewed by boeing and that aviation authorities should verify the system before the aircraft is put back into operation. no real effect on boeing stock right now. it's basically flat in the
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premarket. now let's talk about facebook. they are under fire again, a cyber security firm discovered that hundreds of millions of facebook records were exposed on amazon's cloud servers. the firm says the information included account names, e-mail addresses, and comments and all of it can be downloaded by the public. facebook says it worked with amazon to remove the databases once it learned of the issue. now it's becoming public. the stock as you can see facebook up about three-quarters of a percent in the premarket. amazon moving thousands of employees from seattle to a city that's nearby. they plan to relocate the entire worldwide operations division to bellevue, washington by 2023. an amazon spokesperson says the company is looking forward to bringing more jobs to bellevue. there is amazon in the premarket, slightly lower. back to you. maria: thank you. let's fit in a short break, then we talk about china trade. president trump meeting with
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china's vice premier today. we've got details next. a possible retirement retraction, conor mcgregor's cryptic tweet feud with a fellow mma fighter may put him back in the octagon, much more ahead on that when we come back. ♪ all around the world. ♪ ♪ all around the world. we humans are strange creatures. other species avoid pain and struggle. we actually... seek it out. other species do difficult things because they have to. we do difficult things. because we like to. we think it's... fun. introducing the all-new 2019 ford ranger
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maria: welcome back. we've got a big show this morning. coming up, florida congressman, matt gates is with us this morning, along with new jersey congressman, jeff van drew. gordon chang is here and former mcdonald's ceo ed rensey. don't miss a moment of the it, we've got a big show in the next two and-a-half hours. we want to kick off with u.s.-china trade talks, president trump meeting with china's vice premier at the white house today. the vice premier met with steven mnuchin and robert lighthizer
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yesterday. president trump is likely to announce a summit between chinese president xi later today, according to the wall street journal. joining me right now is interdigital president and ceo, bill merit. it's good to have you on the program. >> thanks for having me. maria: you're doing a lot of business in china. >> we are. maria: let's talk about that. how has that been for you? has the trade issues gotten in the way? >> i would say the trade issues have been help follow for us. the -- helpful for us. the focus of the protection of intellectual technology, we've been trying to license in china for years and we've given them the fact, we have 95% of the non-chinese manufacturers under license, we don't have a single chinese manufacturer under license today. the focus by the administration on focus on i.p., to show they've been complying has been good for us. we're cheering them on in what they're doing. maria: you've seen firsthand the theft of i.p. tell us about that. i mean, how significant is it?
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what kind of a cost do you see as it impacts your company 1234 and do you think you're going to be able to see i.p. theft go away or is that a cultural thing in china? >> i don't think it's long-term cultural. it has been. i think it can change with enforcement. in terms of the impact, if you think about what we do and others in our industry do, we hand over the technology to the industry, to build phones. and the return is we then get licensed under the patents that cover that technology. the impact has been with the chinese companies not paying royalties to us, they have extra money now to invest in research, that we don't have. and the impact has been in 5g. they have got tons of money to invest in 5g while research companies like us don't have that money. it's creating imbalance in the research environment for 5. >> as you look at a huawei or zte product, do you say that looks like our stuff in there. how are they doing it without
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licensing? >> so, it's an open standard in the a sense. we contribute our technology to the standard many anybody can get it. anybody can build a phone. any phone that's built, we know has our technology in it. how do they get away with not paying royalties? they simply just refuse to pay. they hold out. a company like zte, we've been in litigation with zte for almost -- >> so they owe you. maria: you're still in litigation? >> yes. >> with have the i.p. theft, that's one thing. in china, there's no regulations in terms of workplace, labor, minimum wage. how can we level this playing field at all? >> yeah, i think there's a lot of issues that go into leveling the playing field. some are within our ability and others are not. things like intellectual property, certainly there's ways to level it out. there's ways to level all these things. president trump tweeted a while back about 60 and telling americans, you have to compete with other people. we're not going to keep people out of the market. we agree with that. but compete on a level playing field. i think he's doing a fantastic
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job ot of creating the level playing field. maria: what type of enforcement action is possible to get the chinese to keep their promise they won't steal i.p. we look at huawei stealing trade secrets, cisco, moat row motoro, t-mobile, et cetera, what do you think it will take for them to keep their 3r07 promises that ty won't steal. >> there needs the be a firm commitment and the benchmarks would be concrete activity, signing a certain number of license agreements, things that could be measured. the third is some level of enforcement beyond that, if those benchmarks are not met. i think that they will work to change what has been a typical culture over time. i have to work to change that culture. maria: thanks so much for joining us. bill merit. back in a minute. here you go little guy.
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maria: welcome back. headlines across america this morning. the new york post is recording uber spent $2 million to help push through congestion pricing. uber officials say they're proud of their role in helping pass the controversial plan to charge drivers a fee for entering manhattan below 61st street. roughly $1 million paid to some of the top city lobbyists, another going to an ad campaign. the chicago sun time says democratic socialists control one-tenth of the chicago city council, they will join two others who won back in february. and the l.a. times this morning writes this, disney shows off fox titles to cinema owners as a new era takes shape. disney delivering a presentation at cinema con yesterday, kicking off with a reel from several fox films. walt disney's studio chairman said disney would continue to
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support exclusive release before making movies available at home. good stories there this morning. i want to get back to bill merit that we were talking about. he made a really good point, as he was leaving. and that is, the chinese discussions with the united states have taken a new form after the mueller report was released and the fact that there was no collusion. because now the chinese are saying to themselves, okay, we are looking long term but now we might have to deal with this guy for eight years. there's no collusion. he may very well win again, re-election. so it just tells you how the talks may very well have taken on a different tone given the -- giving the u.s. an advantage. dagen: there's a story in the wall street journal, talks about looks like president trump will at least when the summit will take place on thursday, that's the goal. but that the united states is part of the enforcement mechanism, wants to keep the punitive tariffs in place. we'll leave the tariffs in place until you prove you are abiding by this agreement and that's the sticking point with the chinese.
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but tariffs on 200 -- a quarter of a trillion dollars in imports in the united states, that's a very, very powerful enforcement mechanism. maria: the president is poised to leave tariffs in place. dagen: yeah. so that seems to be -- because china wants them kind of date certain for them lifting those tariffs and by the way, there are $110 billion worth of u.s. goods that have re retaliatory thrivtariffs slapped on them. it's been a drag to the economy. maria: the mueller report is a factor as well. the point i was making was, can you imagine ho imagine how irree the media has been over the past two years, talking about treason, the president committed for all these crimes for two years, it gave the chinese this upper hand to think they could actually have their way that, maybe this president is on his way out. now that the mueller report is out, it's clear there's no collusion, they're thinking maybe we have to deal with him
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for eight years, we better get in line. that's how irresponsible the last two years have been. this president is trying to do international deals in north korea, in china, and they've got the democrats and the media driving this story, this narrative that never made sense. >> so core ro we talked about hs generally never believed in collusion because you'd see headlines about this alleged conspiracy that put a kremlin plant in the white house and markets ignored it. essentially -- maria: you're right, good point. >> you'd have this huge run-up. that doesn't mean foreign leaders, especially the nonmarket ones, didn't think maybe this guy's not going to be around, maybe there's something to collusion, and certainly to the extent they believe it or even suspect it, it weak n weaks
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and across the board. dagen: we have a whisper campaign just beginning. hillary, there'sa story in the s they posted yesterday, that people on mueller's team are sending out signals that wound up on the front page of the new york times, saying that bill barr understated the findings in the mueller report. i don't know what the motives are there. if you read the storely, there's no there, there. they won't say what it understated. there's no detail. but again, this is the whisper campaign. it might be an effort to push the full mueller report out and make sure that barr includes more information in it than he otherwise would. again, robert mueller is working with bill barr to decide what they can release to congress and ultimately the public. maria: first they won't adhere to the results of the 2016 election. now they won't adhere to the results of the special counsel who was godly in their minds, just six months ago and the attorney general. jerry nadler, the head of
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judiciary, is calling him a political appointee. >> i think the new york times doesn't want to give up the dream and you wish there was more of an understanding in the media generally that enormous destructive mistakes were made and they're ought to be some reassessment. but i'm not seeing that at this point. dagen: the new york times is clearly the aqueduct carrying water for people who hate the president. >> the legacy media and the democrat party are one in the same at this point. they're paying the price for this. there's no collusion. next they're saying we want tax returns from the president. what's next? how will this play out? not well for the democrat. maria: exactly. we've got to talk about 2020. now congressman tim ryan is going to join the race as well. we'll take a break, we'll talk about that. coming up, more accusations against vice president joe biden after he responds to the initial
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allegations, what that means for a potential presidential bid. more troubles for tesla, the automaker reporting the biggest sales decline in history as elon musk faces off with the securities and exchange commission. that's next. back in a minute. ♪ we forget about how we went around. ♪ i don't know why you don't take me downtown anymore. ♪ of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. ifor another 150 years.. the fire going ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work,
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maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo.
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it is thursday, april 4th. your top stories right now, 6:3. investors are wait on president trump's china trade meeting today. futures indicate a decline at the start of trading, dow futures down 17, the nasdaq down 7. markets were little changed yesterday. the dow industrials added 39 points on the session, s&p was up 6, nasdaq up 46 points, two-thirds of 1%. in europe this morning, take a look at the action, and we do see a mixed story, fq100 down 41, one-half of 1%, cac in paris down 15, that's a third of a percent, and the dax index in germany is up a fraction, 6 points higher. in asia overnight, the indices were mixed. as you see, the best performer was china, shanghai composite up about 1%. there's a tornado threat, severe weather in parts of the south this morning. we'll have the latest on your forecast. then mcgregor shocking the mna world with a tweet that could land him back in the octagon. start your engines, dolly parton makes a statement on the nascar
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track this weekend. we'll tell you how. wrap it up, mexican food change celebrating national burrito day today, offering plenty of discounts and promotions we've got all those coming up. we want to kick this half hour off with tesla troubles, the automaker reporting their biggest sales decline in its history. elon musk is facing off with the securities and exchange commission today in court over contempt charges. dagen on the story. dagen: deliveries, let's clarify that, new vehicle deliveries in the first quarter for tesla fell 31% from the previous three months. the electric car maker clearly struggling to ship its model 3 compact car to now customers in europe and china for the first time. this came in below analyst expectations. that was the biggest dropoff. we should point out that the first quarter was tesla's a and so it was 31% drop in deliveries. last quarter was tesla's first sales period following the beginning of the phase-out of that important u.s. tax credit.
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so the tax credit's now $3,750 per car, down from $7,500, that's another concern. so tesla reported two straight quarters of profits, of profitability, it's not likely based on these numbers to be profitable in the first quarter. that was kind of a warning that we got several weeks ago from elon musk anyway. let's take a look at how the stock is doing premarket before i move on to, well, court today for elon musk. it's down 8.5% in premarket trading, so this delivery shortfall was a surprise and a big one, based on how the stock's moving this morning. meantime, here in new york, a federal judge is going to hear oral arguments in a lawsuit brought by the u.s. securities and exchange commission that's trying to hold ceo elon musk in contempt for violating this settlement deal with the s.e.c. this was over these tweets the settlement was over tweets saying funding secured, back in
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august and he was tweeting about how many cars the company would produce, he had to amend that tweet earlier this year. this was in mid-february. here's what's going to happen. probably nothing. if the judge sides with the s.e.c., elon musk could get another fine, maybe a big one, limits on his social media use. he will not get ousted takes ceo of tesla, mark my words. it's theoretical a possibility but not going to happen. >> question for you, dagen. dagen: wait. i'm not done. this is this afternoon at 2:00 p.m. eastern in a manhattan courtroom. not clear if elon musk is going to be there. i would say not likely. maria: in a han manhattan courtroom. dagen: yes. >> since he has this agreement with them and this is a contempt hearing, i think it's likely he will be found in contempt. he did violate the settlement from last fall. dagen: he argues that he didn't. he said the settlement that the s.e.c. has in place, they're trying to enforce it in a way that it does not exist and they
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did -- he is supposed to have people in the company review the tweets before they go out. the tweet was quickly amended and it wasn't off-base, based on things that had been communicated to investors. i'm talking about the tweet in february, i think this is a whole lot of nothing and the s.e.c. doesn't like being called the short several enrichment commission by elon musk. so i think that he has been poking the bear and the bear is clawing back and i don't think anything significant happens out of this court hearing today. maria: he likes to poke the bear, the s.e.c., and the short sellers too. >> we'll have to see how aggressive the s.e.c. will get today. >> the funding secured twitter message that got him in trouble in the first place, looks like funding not secured either. maria: joe biden, three more women reportedly accusing the former vice president of inappropriate behavior. biden grobuybiden broke his sild
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reviewed a video. >> the boundaries of protecting personal space have been reset and i get it. i get it. i hear what they're saying. i understand it. and i'll be much more mindful. maria: karl rove is weighing in this morning in the journal. he has a new op ed in the wall street journal titled this, don't count joe biden out. he writes mr. biden's subsequent apologies and his promise to be more mindful are knowledgements that he is struggling in if me too culture. this reinforces the sense that his first day as presidential candidate will be the best one. dagen: as the touchy, feely person on the panel, i'll weigh in on this. i'll get into trouble. if a man gets in your space as a woman, or another woman gets in your space, you need to look at them and say hey, bud, you need
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to have an elbow here and say you know what, i'm not that kind of person, don't like pinch my elbow, don't -- because i am that kind of person. maria: what i would do, get off of me. like get off of me. dagen: i have said that to people. there was a creepy guy who was on air once here, it's not anybody working in management or who was on staff but he started giving me a shoulder rub in the hair room and i was like you need to put it in reverse, buddy and back this truck up. maria: back up. dagen: don't put your hands on me. if somebody like joe biden put his arm around me, i would think that was a sign of affection, in a very, excuse me, nonsexual way, southerners are exactly like this. men and women. and i always hate it because i encountered this in new york, where you would refer to somebody when i first started working here as thanks, hon and the person would go around you and go to management and complain about you, rather than looking you in the eye and
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saying please don't address me that way. maria: i'm not your honey. dagen: that's why -- maria: i think what i hear you saying is he shouldn't get bullied out of this. just because he smells somebody's hair or kisses them, maybe he shouldn't get bullied by this even though norms have changed. dagen: i find it suspect that these women come out now and then complain about it publicly, when he's about to declare his run for the democratic nomination. people who clearly, one of them at least, a bernie sanders supporter, that they say it publicly but never had -- never looked at him and said, you know, and said i'm not comfortable with this. >> all of this conduct occurred in public. no one is alleging anything that wasn't on camera or in front of a big crowd. no one said things happened behind closed doors or in a bar or restaurant or in a hotel or on text. this was all conduct that occurred in the public eye. so what could have really happened? maria: having said that, will we be talking about biden as a 2020 contender in six months?
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dagen: yes. maria: will he be able to get over this. dagen: the one thing that he does -- that karl rove writes about that he needs to stop apologizing, remember cynthia nixon called him out for referring to vice president mike pence as being decent. we actually talked about that on the show. he needs to stop apologizing for that. >> his only premise as a candidate is that he's going to chart a more moderate course. if he begins his candidacy, if he becomes a candidate and he spends all of this time trying to persuade people that he's just as woke, just as hard left as the other candidates, there's no point in running. maria: i can tell you for sure that congressman tim ryan from ohio will enter the race. he is going to run for the presidency. so this question about joe biden is opening up a whole new avenue for tim ryan. he could be a force because he's from ohio, he's a working man's guy, he's not radical left,
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crazy idea green new deal, 70% tax rates. what do you think? >> well, this does look like a bet that biden's not running. maria: yeah. >> but you know, he's not -- ryan is not that moderate. so that's going to be a question. but definitely striking a more moderate tone at least. dagen: they can't beat you on ideas, they'll try and shut down based on your personality. i think joe biden's feeling that. maria: moderate relative to -- >> right. maria: let's take a short break. then we've got to get to cheryl. markets are lower this morning after finishing higher yesterday. we'll tell you what's moving and we'll tell you the big news of the morning when we come right back. stay with us. kevin, meet your father. kevin kevin kevin kevin kevin kevin kevin kevin kevin
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maria: welcome back. a new ceo at pg & e. cheryl casone with headlines now. cheryl: maria, good morning. pg & e tapping bill johnson, he is the current head of the tennessee valley authority. he will now lead the troubled california utility. pg & e announcing a new board as it looks for a way out of bankruptcy. they face billions of dollars in liabilities their role starting deadline wildfires in california. severe weather in the south to tell you about, after hitting texas, a series of thunderstorms is ready to slam other southern states, including oklahoma, arkansas and mississippi. large hail and damaging winds expected across the region today. a few tornadoes could develop. forecasters say the system will continue to move east tomorrow.
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and finally, maria, it is national burrito day. mexican food chains are offering deals to celebrate and you can be, if you want, a human burrito. yep. tortilla blankets for babies and adults now viral. if a burrito isn't your thing, possibly more important, may 5th is nationalen economy na ada day. maria: i want to wrap up like a burrito. cheryl: don't you. maria: markets this morning seem to be searching for direction, of course we are waiting on news out of the china/u.s. trade talks. we've got a market close to where the indices closed yesterday. jamie dimon out with the annual letter. he says there are legitimate concerns around china's economy in ad dig 'in ad digs to trade n addition to trade but they are
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manageable. joining us now is gary b. smith. thank you for joining us. >> good morning. maria: how do you see markets today? are you still bullish? >> i am getting less bullish. i'm afraid. the times that we've been together in new york, i i think i was very bullish. hopefully at the right time. now as we start to get toward those old highs and the fact that volatility has dropped, back to where it was in last october, when there was really nothing on the horizon to bother it, bothers me. because it tells me there might be something out there. we don't know what it is, some black swan event. maybe it's in the investigation into trump's tax returns, maybe it's the whole china thing going south. i get worried as we approach those old highs, especially as we've gone almost straight up since christmas. maria: anywhere to hide? you're expecting a decline in stocks then? >> i think we go to the old
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highs. that's another 700 points. i guess if i was an investor i would probably start to take a little off the table, maybe go to 50% cash as we get there and kind of wait and see. maria: thanks for weighing in briefly. we appreciate it. we'll be right back. heading into retirement you want to follow your passions rather than worry about how to pay for long-term care.
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maria: welcome back. the spurs' head coach ejected, just 63 seconds into the game. jared max on sports. jared: that escalated quickly. the first nba coach in seven years to get kicked out of the game in the opening two minutes, barely lasted one minute, 63 seconds into the spurs' eventual loss in pen veer, he was gone -- denver, he was gone after being issued a second technical foul. maybe it's something with coaches from texas last night. the houston astros' manager and
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hitting coach were also kicked out. if you like trying to hit a golf ball through a moving windmill, you'll want to check out steph curry's new venture. he will become the executive producer and resident golf pro for a 10 episode series on abc called holy moly. mini golf players will compete on epic courses. each episode has 12 contestants and $25,000 to the winner of each show. eight days ago we told you that conor mcgregor said he was retiring and now he's suspected -- we suspected that's not bring not the case. last night conor mcgregor said he's unretiring, on the same day he traded nasty tweets with khabib nurmagomedov, conor said he wants to move forward. it's one world and one for all and now we see you in the octagon. so he's going back. and the queen of country is
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about to be the queen of the racetrack. check this out. dolly parton is sponsor her own race car driver. this will be in the series on saturday in bristol, tennessee. dolly parton on a race car, what do you think of that. maria: i like that. dagen: the race on saturday at bristol motor speedway's thunder dome, the greatest racetrack in racing and everything should watch it and everybody loves dolly. maria: jared's sports reports are on 24/7. the power suit no more, why you'll no longer see a top clothing brand at some top tech and finance companies. stay with us.
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maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, april 4th. your top stories right now. investors are waiting on any china trade news, the president will meet with china's top negotiator today at the white house. markets are flat, s&p 500 down a fraction, dow jones industrial average up a fraction, after markets were little changed yesterday. the nasdaq was the top performer yesterday, up two-thirds of 1%. the other major indices higher fractionally. in europe this morning, take a look at the story and it is mixed. fq100 down 30 points, cac down 9
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points, the dax index up 26. in asia overnight markets were mostly higher with the exception of hong kong. we are waiting on the jobs report. it's jobs friday tomorrow, that may well be a market mover. cracking down on e-cigarettes. the fda is warning of serious health concerns after some users are reporting they're getting seizures after vaping. the college admissions scandal continues. lori loughlin and felicity huffman appearing in the boston court yesterday, after they signed autographs outside. we have the latest. the vests take over wall street. the company behind them, patagonia, is saying no more. all those stories coming up. joining me to break it down, dagen mcdowell, james he freemajames free manand erin er. jamie dimon out with his annual letter. he writes there are concerns about china's economy, but they
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are manageable. he calls the u.s. issues with china substantial and real. the letter has become something that jamie dimon is real proud of, as he takes a whack at policy issues and talks about concerns for the country, not just jp morgan. >> i think china obviously the big issue on the table. i think he's speaking for the business community, where they don't like tariffs but they recognize that the game in china is not fair to foreign companies, not fair on intellectual property, et cetera. larger policy points in there, i think some of them are laudable. i don't like the idea that businesses have sort of a social responsibility to advocate for different public policies. i think the job of a bank, for example, and his bank does it very well, is to fund businesses, allow companies to grow, allow people to have the financial services and i think that's a great service.
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you don't need to be involved in public policy. dagen: this reads like a 10 point plan for a man who is running for the nomination of some party. i don't know which party it is. but he talks about infrastructure spending and the infrastructure plan to improve our highways and such. that is the role of the government, how to pay for it is the question. also things like -- maria: education. dagen: education. those are the big l policy issues. i mean, he's kind of -- again, tell us something we don't know. maria: he said 10s ways to address what's holding back growth and opportunity, education, infrastructure, tax system, litigation reform, immigration reform, mortgage reform, labor market, budgeting and planning. >> jamie dimon, 2020. maria: he said he's not going to run. dagen: he's not woke enough, i don't think, to certainly win the democratic nomination and you already got like a howard schultz possibly running as an independent candidate. i wasn't suggesting that. i'm saying it reads like a
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policy platform. maria: you're right. i will say this, he's probably going to be getting some good news recen in the near term on a because the chinese are agreeing to open up their markets, particularly to financial services. ubs was the first bank to get an opportunity to own a bank out and out, 51%. but it looks like financial services are going to be the first industry that really gets a shot to sell to the 1.4 billion people in china, which is a big opportunity. >> if you look at what the chinese have said recently, it sounds like reform. obviously, there's this question, and this is sort of the sticking point in the trade negotiations right now, what is the enforcement mechanism, when do you take the tariffs off, how do you punish if they're not following the deal. i think on the u.s. side, they are convinced that there is a genuine reformer, they want to move the chinese economy toward open markets, the rule of law, respect for property. can he sell that to xi-jinping who is really an old fashioned
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communist and we'll hear from gordon chang who covers this extremely well. but that's really the he questi, i think is can hu sell that reform opportunity back home. maria: i'm expecting that meeting between the president and xi-jinping in may, early may, is the guidance that i'm getting in terms of the meeting in mar-a-lago, that must mean that they are really down to the final items as we told you yesterday. coming up this morning, we've got a great show, florida congressman matt gates is here, he'll be on the panel with new jersey congressman jeff van drew. we'll get both of their ideas. plus the author of the coming collapse of china, gordon chang is with us. and former mcdonald's ceo, ed rensey joins us as well. don't miss a moment of it. now to the securities and exchange commission versus elon musk, the tesla chief headed to court today over controversial tweets that triggered a legal t battle between his company and the s.e.c.
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a federal judge will hear arguments in a lawsuit filed by the agency, asking the court to hold musk in contempt for violating a $40 million settlement. joining us now is tatia keeny. how have you been trading or recommending this stock in light of all this, tesla? >> >> light of the s.e.c. investigation? maria yes. >> we don't try to predict legal outcomes. i heard you say earlier you don't think he'll be removed as ceo. that's most important to us. we want him to stay at the helm of the company, as tesla is reaching full autonomy with its vehicles. dagen: think about the outrage about that, if a federal judge because of a tweet -- a tweet violates a settlement with a securities regulator which has no really criminal authority over companies, it has -- it can file civil cases, having a judge remove a ceo for a tweet ain't going to happen. [ laughter ] maria: had want to remove president trump for his tweets. >> how do you manage your
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expectations given the fact that elon musk has such volatility in his behavior? >> you know, we look at musk really as a visionary. he's accomplished the impossible, he's changing the face of the auto industry. so there's a lot of transparency in what he does because he uses twitter and he has made mistakes in the past and admitted those and paid for those mistakes. i think, again, for the long term goal of the company in terms of getting to full autonomy, being a leader in electric vehicles, he seems to have a accomplished that. we're happy so far with how things are going. maria: the company's new vehicle deliveries plummeted 31% in the first quarter. tesla is citing challenges associated with taking the model 3 overseas for the first time. how are they going to deal with this? >> i think there's too much focus on deliveries. you have to look at the long-term picture. if tesla's late by a month or what have you on those numbers, i mean, are they -- it's still the best selling mid-size premium sedan. there's no demand issue. dagen: but it does reflect --
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the wall street journal writes about this in its analysis today. tesla has trouble planning. if you're going to be in the manufacturing business, you really need to learn how to cross your t's and dot your i's so-to-speak. tesla produced 22% more cars than it was able to deliver in the first quarter. this shows in part a logistics problem. now -- maria: is it going to hurt income? dagen dagen: elon musk forecast several weeks ago -- we were talking about the debt payment. it was really about him saying that the company might not be profitable in the first quarter after two straight quarters of producing a profit because of some of the issues. and in part, they are losing that tax credit as well. it was at $7,500. now it's essentially been cut in half. maria: stock is down 8% right now. >> yes. exactly. so i think -- well, so one, in terms of profitability, i think so tesla said they have enough
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cash on-hand at the end of the quarter and i think in general with the delivery figures, i mean, have you to ask yourself, are these logistic challenges going to kill the company? no. you know. if you're a long-term investor, i don't think this should phase you. >> wanted to ask about the tweets. this is a mechanism to speak to the markets and the company has said that, but people just like with the president, they argue are the tweets critical to his success or is he hurting himself with tweets. i wonder how you view the musk communications generally, whether it's twitter, whether it's going on pod casts and smoking weed, is this part of the brand and part of the genius or is it a downside and you wish he would stop talking? >> you know, again, as i said earlier, with twitter we get a lot of transparency. you don't get that with other ceos. so i think in a lot of way as investors, this gives us more information. sometimes he does unpredictable things like the 420 tweet. in general, again, we see the
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board supporting musk which is really important for an innovative company like tesla. and as we look forward as the auto industry transitions to electric autonomous vehicles, tesla's years ahead of the competition. and so we don't think that little blips like this are going to sort of affect that competitive advantage that tesla's built in terms of batteries, in terms of autonomous hardware and autonomous data. dagen: you don't even need to look ahead to autonomous vehicles. i had this discussion with someone i'm close to over the weekend who works in silicon vally. every other automaker, even luxury automakers in germany, japanese and american, they are awful at software. there is no other car and no other car company that compares to a tesla. we all as drivers and consumers ought to be rooting for this company. you don't have to own stock in it but you ought to root for them because hopefully all these other automakers will realize oh, our software stinks.
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>> exactly. and a automakers really haven't even owned that part of the supply chain. the software side of things. they're bringing in all of these components from different suppliers and tesla's vertically int greated. this -- integrated. this is a huge challenge to tray decision senate companies. if you look -- traditional companies. over the air updates, the car gets better overnight. why haven't other automakers been able to do this? it's ridiculous that tesla's been doing this for years now. dagen: they're dug in and they literally don't know how to run a car company in the new century. that's literally what these companies look like. if you -- i'm surprised. i'm surprised that apple and google haven't done more to try and manufacture a car or produce software for one. >> how secured is tesla's funding? >> so, you know, i think in general if we look at funding for tesla, okay, so say if you were worried about cash, we actually as investors would be
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okay with an equity dilution because we just want them to get as many cars on the road as possible. each of the cars acts like a mini r ape & d center. machine learning improves with the more data you feed it. we're factoring a 10 to $20 billion equity dilution over the next five years. we would be okay with that. >> how soon do they need to raise more capital? >> again, they said they're okay with cash at the end of the quarter. so no immediate expectations for that to happen. if things were to change which we think they could, again, that would be okay. maria: just to be clear, the stock is down almost 9% right now. woulyou buy it here? >> i can't say whether or not we would buy or sell. maria: you have to tell clients something, right? >> the market hasn't opened yet. the long-term vision for tesla has not changed. we still think they're the largest producer of batteries in the world, they're the only company that's collecting data off its customer cars on the road, we've seen every other
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company working on autonomous driving have issues, waymo is having technical issues, the commercial launch was much more watered down than expected. tesla could launch a fully autonomous car in the next couple he'll years and they will run away from the competition. dagen: i think he's acting like a jerk but i said everybody in the country should root for the success of this company because it's the way of the future. maria: thanks for being here. a major e-cigarettes warning this morning, dozens of users reporting to the fda they're suffering features. the health risk coming up. patagonia takes a stand when it comes to which companies where its clothes. stay with us. back in a minute. ♪ you've got my heartbeat running away. ♪ beating like a storm that is coming your way. ♪ can't you hear that, boom, boom, boom, boom, baby. ♪ super base.
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maria: a new potential heh risk. cheryl: there are three dozen reports of seizures among e-cigarettes users, mainly younger people. nicotine poisoning is believed to cause seizures and even brain injury. the fda outlined new restrictions on sales of most flavored e-cigs to fight underage use of them. carl icon sold his stake in lyft before the company's ipo. icon held a 2.7% stake in lyft, valued at $550 million at the ipo price. they do not know why he sold the stake or how much soros paid for it. lyft is up about a fraction of a percent this morning. three global automakers teaming up to create safety standards for self-driving cars. ford, gm and toyota plan to set up the automated vehicle safety
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consortium, focusing on building a safety framework for autonomous vehicles. self-driving cars have come under increased scrutiny since the fatal crash of an uber test vehicle last year. the ford, gm, toyota fish ya fie is notable because it includes car makers but no technology firms. those are your headlines. maria: coming you up, the delay in the u.k., trying to avoid a no deal exit from the european union, british lawmakers are looking for another deadline extension. we've got details coming up. the college admissions scandal, lori loughlin and felicity huffman facing a judge. the courtroom drama coming up. ♪ it's a high school prom. ♪ it's a springsteen song. ♪ it's a ride in a chevrolet. ♪ it's a man on the moon. ♪ it's fire flies in june. ♪ and kids selling lemonade
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maria: british lawmakers are voting to force prime minister theresa may to ask the e.u. for another extension to exit the european union. ashley webster with the latest. ashley: there is a bill that went through the house of commons yesterday, basically telling theresa may she must go to the european union and ask for an extension which the new deadline is a week from tomorrow. that went through the house of commons. it's now in the house of lords. kind of like the house and the snat senate isenate in the u.k. this is ground-breaking by itself, that they're actually debating this issue in the house of lords and doing it quickly. nothing quickly happens in the house of lords. there's a belief that some conservatives are so upset with the whole process they may
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filibuster, they may talk for hours and hours to try to prevent this from going through. the bottom line is, prime minister go ask for an tension, doesn't mean the e.u. will give it to them. the whole affair has not really moved forward in three years. you can't come to a majority, consensus on what the plan is to get the heck out of the e.u. what's interesting, there's a new poll out in the u.k., says 83% of u.k. citizens, sick of talking about brexit, 64% believe it's harmful to their mental health. i think we can all agree with that. another interesting angle to this, maria and gang, there are 10,000 riot police that have been undergoing extensive training in the last couple weeks. they're ready to deploy in a heartbeat. that doesn't mean to say they're going to be needed but there have been a ramping up of emotions, the number of crimes related to brexit have doubled in the last two weeks.
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harsh rhetoric is being translated into action. there's a concern if this continues to drag on and brexit is not delivered as it was requested by the british people, that things could spill onthe streets. there's 10,000 riot troops ready to go. it's a little bit of a square thing. so far, it's been civil. i have to say. but there's no doubt emotions are frayed. dagen: people are always looking for a reason to loot, aren't they? ashley: certainly in france. there's always a small group of anarchists who will jump onto any cause just so they can smash up shops. dagen: and get what? ashley: get free jeans. get free stuff. dagen: that's ashley's -- east london accent. ashley: there are people that will jump on any cause to create problems. there is that lurking in the background. can theresa may survive this? who knows? who would want her job right now.
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>> if she cuts a deal with the labor party, this is going to be either no brexit or something that's close to no brexit. ashley: correct. it will be a soft brexit. will corbin insist on a second referendum, no matter what deal they make, the choice going back to the people, saying this is the deal we've got, this or we foforget the whole thing and sty in europe. that could be the next move. >> what will happen to the markets? ashley: uncertainty. sterling has taken another hit. german manufacturing again came out really poor. maria: and italy and germany gdp were cut. ashley: this is not a good time comibl f economicalleconomicall. none of this is good because of uncertainty. businesses don't know what to do,s especially if you have a lot of exposure to the continent. >> this republican republican dumreferendum that peoplevoted g ignored on the installment plan by the politicians. ashley: correct it, it was 70
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something percent of m. p.'s voted to stay. the election's coming up in may. this thing could get pushed further and further down the line. maria: it's having an impact across the world. the factory orders report out of germany, the eurozone numbers don't look good. the expectation for gdp for italy and germany were cut again. they're lucky to get 1% growth if at all for the eurozone. that has to hit the u.s. at some point. ashley: of course it does. it's a huge trading block. there's a lot of business done between the u.s. and the e.u. so it is going to have an impact. dagen: i was going to say, meantime you have political candidates in the united states pointing to europe as kind of the gold standard. yeah, their economy can't grow. ashley: good point.
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dagen: this is what socialism gets you. >> this could be an upside for us. one european bank ceo was saying this debate and concern and uncertainty helps new york remain the world's financial -- ashley: it's the only game in town. where will you put your money right now? u.s. ebbin equities look good. maria: are american businesses, jp morgans of the world, have they made a plan to stay in the u.k. or move some people to germany? what's the story. ashley: there's been a lot of movement. back of america moved a lot of employees out of london, into dublin, because they'll remain in the e.u. >> there's no obvious competitor in europe, dublin, frankfurt maybe has an argument, but i london remains the european financial center because of the tradition, rule of law, people want to operate there. ashley: certainly hope so. >> i think that's probably true regardless of what the deal is. ashley: i think you're right. maria: thank you so much.
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coming up, the border battle, we take you live to the border next. plus, i'll be talking with two lawmakers about the economic impact, if the president closes the u.s.-mexico border. millennials in the housing market are resurrecting the suburbs but refusing sprawling homes. real estate trends up next. ♪ 2,000 fence posts. 900 acres.
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48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) the day we'll finally get something done. shouldn't mean going back to the doctoro just for a shot. with neulasta onpro patients get their day back... to be with family, or just to sleep in. strong chemo can put you at risk of serious infection. in a key study neulasta reduced the risk of infection from 17% to 1%,
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maria: welcome back. good thursday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is thursday, april 4th. your top stories right now, 7:3. dow industrials are up 7 points, s&p down under 1 point and the nasdaq down 7 and-a-half. the major indices inching higher yesterday on hopes for a u.s.-china trade deal. the s&p 500 and nasdaq both hit p 2019 highs yesterday, up 6 points on the s&p, nasdaq up 46. the ten year treasury yield settling above 2.5% for the first time in two weeks. we were look at the yield down to 2.36% earlier in the week and last week. this morning, settling at 2 and-a-half. in europe this morning, the major indices are quiet. the fq100 down 31 points, cac down 13, the dax index is up 20, we had disappointing factory orders data out of germany and this morning the gdp forecasts have been cut in italy and
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germany. in asia overnight, markets finished like this. mostly higher with the exception of hong kong, the shanghai composite up almost 1% in china. the college admission scandal, actresses lori loughlin and felicity huffman appear before a judge. the courtroom drama coming up. home buying heats up. we take a look at millennials in the housing market, shaping up to be the best in year. wall street's wardrobe shake up, patagonia is cracking down on its logo vests. why the company is saying no to some industry giants. all those stories coming up this thursday morning. our top story this half hour, border battle, president trump will visit the southern border in california tomorrow. griff jenkins is at the border in mccallum texas right now. >> reporter: we just got numbers here in the rio grande valley. i'm steps from the border here. there were over 1100 apprehensions of illegal crossers last night. that is the 13th day of more
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than 1,000 apprehensions that they're having in this surge of migrants, many of them family units. wee encountered more than 1806 whe18 --more than 180 when we sl day with the border pa l troll. sometimes they seek to evade being caught. we went in the sticks with them. it's tough work. here's what happened. >> it's unbelievably difficult terrain. i'm cut by thorns. we found a group, this is the first one we found, nothing but thorns, bushes, bugs, snakes, spiders. >> this is a spotlight. you can see. there they are. they've got two more. >> they tried to run. this one was hiding underneath this brush to my left and this one right here got up from the brush and took off running. i was able to get him. >> this is the brush underneath here, right where i am, where the last illegal crosser was laid down and herman had to crawl in like this and go through these bushes and thorns.
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it's just treacherous. >> reporter: that is not an extraordinary night by any stretch. that's what they go through every night here. also folks are worried about this border closing. as you know, maria, mexico is texas' biggest trade partner to the tune of $187 billion. we wait to see what happens as dhs secretary nielsen visits arizona today, the president to california tomorrow. maria: it looks like a crisis there, griff. thank you. griff jenkins joining us this morning. president trump is threatening to close the southern border all together. mexican officials along the border are warning a port of entry delays are already causing tens of millions of dollars in losses for companies that do business along the border. larry kudlow said there's a way tkeep freight lanes open should the border close. >> regarding the economic impact of closing the border, which the president has not made a
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decision, as you know, i'm not aware that he has, one area we've explored is to try to keep the freight lanes open. the truck lanes. maria: joining me right now is congressman and house agricultural committee member, jeff van drew. always a pleasure to see you. thanks so much for being here. >> thanks. always a pleasure to be here with you. thank you. maria: your reaction to this news this morning. we're seeing the lines get longer. we're seeing a lot of worry over the threat that the president could close the border. how do you see it? >> i certainly hope he doesn't have to close the border. i wouldn't want to see that. it's obviously not good for business, not good for the economy. so i'm hopeful that we can work this out. yet another example, and i know i drive it over and over again, but where we just need to have more conversation, more bipartisanship. we really need to do more here at the border to try to straighten this out. if we can get the border under control, then we won't have the problem at the ports of entry with moving things through
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quickly enough. and that's the issue. maria: you know, congressman, this is one of those examples of there are real issues happening in the country and in the world and instead, we have been focused in the last two years on this collusion narrative. i know that you have come to washington to get things done. how are you dealing with your colleagues that seem to only want to take down donald trump and have ignored all of the issues going on that affect the american people? >> well, i had a serious conversation with some of them just last night where we sat around a table and talked about it and i agree with exactly what you're saying. i want to get things done. people don't even realize at this point the bills that you hear about moving through the house of representatives. most of them, the vast majority of them are not going anywhere. they're going to get stopped at the senate, because, again, we're not having that conversation. they're not moving through and becoming law. so i think at so many levels we need to take care of the issues that are real, whether it's social security, medicare,
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healthcare, making sure that our veterans are taken care of. i can go through an entire list for about 10 minutes of things that we need to do. we need to get past this other part. we're going to get the report. let's get the report, get as much of it that is legal, and i want to emphasize that, that we legally can get, take a look at it. if there's something there, deal with it. if there's nothing there, that is horrendous, let's move on. let's get laws passed that really can make a difference. let's get our business sector going even better. let's take care of the border issues so that we don't have what's now -- was first just a crisis of safety, is now also a humanitarian crisis and a business crisis. maria: then there's china. this of course impacts your constituents, being on the agricultural committee. i want to ask you about what's going on in china because i heard a story last night which really concerned me. there is a swine flu outbreak in
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china, this deadly virus said to be spreading throughout the country, affecting a shocking number of pigs. china consumes and produces 50% of the world's pork. but apparently 20% of the pigs are sick from this swine flu and they've got 100 million pigs to dispose of. dead pigs. in the past they would put the pigs in the ocean and just leave it. but there are literally 100 million dead pigs in china. have you heard about this? do you think there's going to be an impact to our agriculture? some people expect that this situation is going to ripple through different meats, chicken and steak, in terms of prices. it's going to push all prices higher. what do you think? >> well, it's definitely going to push prices higher, there's no question. you're going to have a shortage of meat. certainly going to have a shortage of pork and the prices are going to go up, number one. secondly, we just have to make sure and thank god we've got a
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good department of ag to make sure we keep everything safe over here. just to arrest everybody's fears, this is nothing that you or i can catch from eating something. this is something that goes from animal to animal through a variety of ways, sometimes when they eat waste that is infected from the flies and the transient insects that move around. but it's a serious issue. it's another serious issue. it's another economic issue. these are the types of issues that government should be working on. maria: yeah. what are you expecting out of a china deal? the president is expected to tell us later today when he will meet president xi in mar-a-lago. i'm hearing it's either end of april, but more likely the beginning of may. do you think the u.s. is going to be able to get an enforcement mechanism in there to ensure that the chinese do not steal intellectual property from america? >> it may not be as good as we would want, but it's got to be better than it is. because it's something we can't
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put up with anymore. and the stealing of intellectual property, the tampering with their monetary system as you know and many of the other things that they do are things that we just can't tolerate. i think there's truth to those who say that for too long china has had the better end of the deal and i think we have to protect our american interest. so i think this, again, is another very, very important issue that we've got to work on. i think we're going to do better. i believe we're going to do better. but you know, maria, this is going to be some hard, tough negotiating that's going to take place. we're not playing with amateurs here. these folks are serious. and they're serious about being the new number one in the world. maria: that's right. and they're looking long term but i think during the whole mueller report drama, the chinese were questioning if they're even going to have to deal with donald trump. now after we know officially no collusion, the chinese are saying we might have to deal with this guy for another eight years. it just also underlines how
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irresponsible it was out there, the media, the democrats, parading around with this collusion story, basically giving an upper hand to the chinese while he's trying to do a deal with them. you mentioned the mueller report a moment ago. it's going to come out. the judiciary committee voted 24-17 to subpoena the entire report. some members of the special counsel team reportedly saying the results are more damaging to president trump than attorney general william barr led on, coming from the new york times today, the new york times is clinging to this narrative, obviously. would the a.g. hide something? would the new a.g. high something in the mueller report? >> well, call me naive, but i really believe in the system of law. and i believe he wants to ensure to keep his good name, so i believe he's going to release what is supposed to be released. maria: not the grand jury testimony, right, though? >> correct. he can't release that. that's by law. but those areas where we're not going to hurt people, not the
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grand jury testimony, not something obviously that's confidential for certain reasons but the majority of it, a good piece of that report could be released. if that's true, that will come out. i'm -- let me say this. i'm a democrat. but frankly, i was glad when it seems to be that there might not be much there because it's important that we can move forward for the next year and-a-half that our president can be effective. we're going to have an election. when we have that election -- maria: let the voters decide. >> exactly. let the voters decide. let's hash this out. let's have the big, grand argument that everybody wants to have. maria: right. >> right now is the time to accomplish goals and get things done. maria: one thing the voters are going to decide on are some of the radical ideas. elizabeth warren introduced a bill for ceos to receive jail time for data breaches. she said i'm proposing a new law
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that expands criminal liability to a corporate executive who negligently overseas oversees y that causes widespread harm to families. she wants to make it easier for ceos to go to jail, congressman. what do you think? >> i think if they've done something truly wrong, hurtful and illegal, there can be truth to that. i don't necessarily love a full-fledged attack that's occurring in certain sectors on business in general. that business is bad, that the capitalistic system is bad, that we should change the whole playing field. i said before i'm a capitalist. i'm proud to be a capitalist. i'm a capitalist and i like to have a -- i'm a compassionate capitalist. there is a place for government. we want to make sure people don't fall through the cracks. this is not just l lassai faie
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capitalism. we want to make sure this is expanded more and takes more of us and enables us to live the american dream. maria: well-said, congressman. good to see you, sir. thanks so much. jeff van drew. the college admissions scandal is next. what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence.
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maria: welcome back. constellation brands out with earnings right now. cheryl casone with details. cheryl: consistent tel constes
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reporting better than expected results for q4. they posted revenue of $1.8 billion. the company selling about 30 of its lower priced wine brands to e & j gallo for $1.7 billion. some of the names, mark west wines and several others. shares of constellation brands higher in the premarket. all right. well, actresses felicity huffman and lori loughlin appearing for the first time in federal court in boston over the college admissions scandal. both are charged with conspiracy to commit fraud. prosecutors reportedly asking for jail time for everyone charged in the case. the actresses have forfeited their passports. loughlin stopped to sign autographs outside of her appearance. patagonia no longer selling its popular vest through corporate sales programs. these vests with logos on them a
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wardrobe staple on wall street, especially for workers that trade in the suits for the more casual look. patagonia wants to add new businesses to the client list, one that meet environmental and social and transparency standards. they add that existing corporate customers can remain in the program. way to make your view there's. maria: that's too much. thank you, cheryl. coming up, real estate is heating up. investors are finding it's the perfect time to make a buck in the housing markets. dea tails on the money making opportunity. back in a moment. ♪ better shop around. ♪ oh, yeah. ♪ you better shop around. ♪ shop, shop around. ♪ some things are out of
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maria: president trump just tweeted on the gop.
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the republican party is the party of the american dream. let's talk about that. spring has sprung for potential home buyers, falling rates and increased inventory pushing a buyers market. joining us now to give us the state of business is dolly lens real estate co-founder, collie lens andollylens and managing d, jenny lens. what are you expecting this summer in real estate? >> well, we'll seeing a lot more inquiries, seeing a lot more people at open houses, which is great. that starts the process. and we're seeing people happy that it's spring. maria: yeah. >> they go outside. maria: you think prices are going to come down. >> yes. doesn't mean they're not going to take advantage of those prices coming down, right. buyers will buy if they get a bargain. so they're looking for that bargain. interest rates are so good now that anybody looking to buy is saving, what, 0.3% from just a month ago. >> as sellers become more realistic, we're going to see a lot more traction, a lot more
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buyers in the market. as she said, spring is just the best time of year for new yorkers. it really is a seasonal -- what of a seasonal market. no one wants to go see stuff in the winter, it's cold, everything looks terrible. maria: what about the millionaire's tax. let's get into the taxes that are taking effect. >> not good. millionaire's tax is another trifecta problem. a large supply of inventory, over-supply of inventory, lack of foreign buyers and now this tax, plus the original tax. it's not good. dagen: the cap on state and local tax deductions. >> it's not a cap. it's an elimination of real estate tax. dagen: transactions in manhattan in the first quarter i read was the lowest in 10 years. people don't want to buy in high tax states for myriad reasons. >> exactly. we're also seeing the huge move down to places like florida because it's not a tax state. >> ultimately, this will be priced into condos in manhattan,
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if you're going to make us pay higher taxes, we're not going to pay as much for an apartment. that's what we're seeing. maria: just to be clear, in california high earners are taxed 9.3%, plus an additional 1% surcharge on income over $1 million. on the opposite coast, new york's upper cast taxed 8.82% on income over $1 million in 2018. that's not including an additional millionaire's tax. >> exactly. >> or the new york city tax. wait a minute, we don't get the california weather either. so maybe there's not a good deal there. so not a lot of buyers, prices lately not that firm. the people who are looking to buy, what are they looking for? is it different from previous times? >> well, they're looking for smaller, more efficient, newer homes and especially . thanks f.
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i'm maria bartiromo, thursday, april 4 your top stories right now 8:00 a.m. on the east coast. investors waiting on nice out of the china trade talks president will meet with china top negotiator at white house this afternoon, futures lower but by a fraction dow industrials down 4 points s&p down 2 and area quarter nasdaq down 16 little changed yesterday nasdaq top, up two-thirds of 1% 46 points higher dow industrials up 39 at 4:00 on wall street yesterday in europe this morning, major indices mostly lower, the ft 100 down half a percent cac quarante in paris down 17 dax is hooifr well off
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the highs of the morning, we have had weaker-than-expected factory orders date out gdp forecast, for italy germany this morning, downgrade in asia overnight markets mostly higher, as you can see, there shanghai composite best china up almost 1%, details this morning in ethiopian crash preliminary results of the investigation plagued boeing 737 max flight control system for the fatal crash carlos ghosn behind bars about to start exclusive interview last night with former ceo 10 agents walked in his house took him in a car full details this morning now the interrogation has moved to his wife. they would not leave her alone last night she could not going to the ladies room alone had to go to the bathroom agent left the door open, and waited there while she was a in bathed ram she wanted a shower female agent stayed in the shower while she took a shower
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pretty extraordinary what is going on he is behind bars, and, by the way, update for you, prosecutors will not tell his lawyers why he was rearrested we don't know. google voice assistant help find out who is lending their voice fox business network dagen mcdowell "the wall street journal" assistant editorial editor freeman, republican strategist elmore. >> good to see you ghosn story incredible in my view i don't o know it haefrmd foreign investment in japan you have to question the judicial system in japan throwing somebody in jail without having his say or his chance, to explain himself, just to be clear says he is innocent this was a coup, as i have been reporting a hundred days now, that the people at nissan teamed up with the ministers of industry to take him down so renault would not acquire nissan extraordinary. >> second time reretired
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unusual, japanese has 99% conviction rate. >> squeezing carlos ghosn so much so he admits to crimes he did not do. >> they will get to make their case but obviously, the japanese did not want this european control of the business, we will see what case is when they lay it out kind of over the top series of actions, 10 agents, to -- to capture carlos ghosn, as if he is some sort of -- you know -- crime -- chieftan fighting with them they need 10 guys to restrain him bathroom sequence with wife you mentioned just it is a series of things that make you wonder what is the point here other than to intimidate as opposed to search for justice. eventually we will get to hear his side he was a going to give his side to you maria: he was. >> he wanted to later have a
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larger press conference. this seems to have disrupted that we have learned with the japanese legal system they may be able to keep him in jail quite a while without able to talk further to attorneys very different from united states, i think we are eager to hear his unfiltered account of events. >> to be an clear i did speak with carlos ghosn last week says this was a coup, his number two was afraid he was going to get fired company was not doing well, and they had missed expectations, and revenue declines for four straight quarters, he was getting ready to announce consolidation he said he was not going to announce an out-and-out merger with renault but make big changes they did not like that they lured him to japan, they he arrested him with help of the minister of industry in japan i am hearing that there is a back-and-forth between prime minister's office and prosecute's office did not want him rehe arrested he
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thought this would be a stain on japan the prosecute within the ahead did it ten agents showing up last night like i said right before we were about to do an interview leads me to question whether or not her phone is tapped as well, we know that he has a government phone, the lawyer gave him the phone to use, while he was in this apartment in tokyo you know i have been communicating with her, and her phone month tapped showed up before the interview to shut him down don't want him giving a press conference either he said he wanted a prose conference on april 11 they be on the want to hear his plea for innocence there you go you go. >> we will follow that trouble for tesla stock sliding nearly 10%, following weak deliver numbers ahead of elon musk's battle headed to sec in court today, the stock is down 10%, as you can see, kristina partsinevelos is outside the courthouse in downtown, are you expecting to see elon musk
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today? . reporter: no, it seems like the rumor is that he probably won't show up but you never know in these types of situations, the sec exchange commission will be daeting squaring off 2:00 pm time oral arguments have already been received by judge what are they debating, debating whether elon musk is in con tempt for a tweet, that he sent out on february 19 this reads tesla made zero cars in tlun but we will make around 500,000 in 2019. the tweet was later updated, however, sec arguing that musk infringed on settle misled taking the company private he has to pay 20 million dollars tesla pays 0 million step down as chairman three years he has to get his tweet preapproved
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the major debate today, musk his legal team, are saying in his defense, two reasons first, one, that his tweet on february 19 was a not material. all of that information about production rate was already in the earnings report, was already discussed on conference call the second point is that all this infringed on elon musk freedom of speech the judge according to legal sperths not likely to come to a decision today could side with sec with elon musk or scrap out the settlement altogether start banning at zero we will find out around 2 pm earn we will watch all day kristina partsinevelos in new york, turning to u.s.-china trade president trump just tweeted moments ago he says despite in necessary and destructive actors by fed the economy is looking very strong, and china and u.s. mca deals moving along nicely little or no inflation and usa
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optimism very, very high meeting with chinese vice premier liu he. >> and talking about xi jinping later late april or early may joining me right now is author of the coming collapse of china gordan chang a pleasure to see you talk about trade deal what are you expecting in terms of of the main tenants do you think we get to a deal between u.s. and china. >> efrn says there will be a deal they settled 90% points i am not so sure that we are going to marry deal announced next day or so you know but next couple months, the question though is you know we have a decades of failed trade agreements with china the question is do you remedy that with another deal? so we will see how this goes, but, clearly, you know, heading in that direction. maria: looks like china are willing to open markets opening up markets to financial services companies in u.s. among other industries, and willing to buy
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more commodities what about ticket items ip theft forced transfer of technology. >> stub of the problem people say close to a deal they have not decided on the enforcement mechanisms that get china to agree to it is to that is really he going to be critical thing, and president trump doesn't agree to tough enforcement mechanisms clearly, this is plot toed a good deal for us but if there are tough enforcement mechanisms, xi jinping chinese ruler has synthesize incentive to say "no." >> is this huawei the massachusetts institute of technology, mit, announcing it is ending collaboration withh, and virtuality te over al violation for u.s. sanctions mit said reviewing collaboration with china russia saudi arabia getting dicey around huawei i have spoken with secretary of state mike pompeo about this trying to tell europeans if you are
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going to use huawei telecom we are going to not share as much information with you this is high stakes on huawei. >> certainly is, you know one of the arguments that the united states has been make aing is that the 2017 national intelligence law in china requires chinese parties to spy on others if china demands it certainly we have seen huawei spy on he african american african union five years there is a strong case there, but, you know, huawei is supported by chinese diplomatic corps, beijing has gotten behind this company should tell us a lot this is a geopolitical issue for china not just an economic one. maria: so you do think that the president will be able to put if some kind of enforcement mechanism? >> should chinese not keep up promises not to steal from united states if more stealing of ip snap back more tariffs? what is at the mechanism to get beijing to keep o he proposals. >> they are going to keep some tariffs on president trump has
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been very clear about that, for last month that looks like going to be the case. maria: i agree with you. >> chinese have been saying look that is unacceptable to them i don't know where middle ground is clearly this is where we either have a trade deal or don't have one. i sort of think that you know if up to by the to sort of increase tariffs until chinese stop stealing our ip we have had agreements very detailed agreements with china they have dishonored all. >> like time said going to buy all this biography never bot beef i got to get your take on swine new outbreak in china, china is not talking about this at all i was talking to american businessman last night, he was telling me, that china consumes produces 50% of the world's pork. and right now, 20% of the pigs are diseased with swine flu so they are dyinging 20% pigs in china means that is a hundred million dead pigs what are
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they going to do with a hundred million dead pigs how do you o dispoef of 100 million dead pigs. >> they dump them in the river. >> can't dump a hundred million dead pigs in the river. >> a lot of -- on pigs if issue for united states is that china has agreed to buy more soybeans, with fewer pigs not going to need soybeans as much as you know have anticipated, so this is going to be although one of those difficult issues between china and u.s. do they buy commodities in amounts agreed. >> earlier i spoke with unanimouslying congressman jeff van drew about this issue watch what he said. >> it definitely going to push prices higher there is no question when you are going to have a shortage of meet you are going to certainly have a shortage of pork, and prices are going up number one, secondly, you know, we just have to make sure thank god we've got a good department of ag to make sure we keep everything safe over here. maria: so the source that i was talking to last night said
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it is not just pork prices going up it is going to ripple throughout meat chicken, meat prices as well what do you think. >> certainly, because pork is such an important staple in china if you don't have it you are going to have to eat something else so this is going to be affect prices in wraish means going to affect prices here a knock-on effect as i mentioned on soybeans commodities felt worldwide it surprised only 50%, of the world's pork i think actually higher. >> more than 50%. >> i thought so -- >> how come nobody talking about swine flu. >> not reported anywhere i didn't -- >> this there was a little bit of a reporting about two weeks ago, because the u.s. department of agriculture confiscated chinese pork coming into u.s. was diseased, and so that obviously, was important to the ag markets here you are right for the most part this is a story no one is talking about, it does have effects through markets trade talks so that glad we
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discussed it thank you so much gordon chang, startline developments against boeing latest on ethiopian airlines crash, carlos ghosn behind bars i was about to start an exclusive interview with him last night as we were about to start the call 10 agents walked in took him away more on the story coming up. this is the family who booked the trip. ♪ which led to new adventures and turned moments into memories. with flights, hotels, activities and more
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taking aim at boeing finding ethd i don't wantian jet nose different before it came down flight performed all procedures recommended could not control that plane. >> well, target raising minimum wage announcing workers are going to earn $13 an hour starts in june, that is up from $12 coming as retailers have been finding it tougher to attract workers employs over 300,000 people right now. >> well, google assistant launching first celebrity voice today, here you go starts with singer john legend. >> whoa. i am -- thrilled with voice find me all devices phones google home, and if i am lucky in your heart. >> yeah. [laughter]. cheryl: you wet you john you going to give you the weather maybe signing happy birthday tell you a joke, voice available for limited time
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unfortunately, google says, they are going to be an more cam yellows to approve voice synthesizing technology. >> i love that. >> i like that. >> is it a when celebrity voice do you want on going. >> james? >> i g with sinatra. >> good one, good one. >> i like dolly parton. >> i go with dolly. >> great. >> okay. >> yeah. >> was i fortunate to moot her in the greenroom in this building. >> she is a doll. >> just as wonderful, as you always hear about. >> good to wake up with a voice like that. >>. dagen: when she comes in comes in, i don't care what time of day dolly parton extremely professional, looks you in the eye i think a lot of like a lot of people could learn from that she is incredible. >> now going to racetrack. >> exactly you got to watch dolly can dust anybody that is
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clear with long career. >> i like gilbert godfrey geico not geico. >> the duck -- >> -- fired him -- >> a good one i would take gilbert godfrey make you pay attention. >> coming up carlos ghosn behind bars about to start exclusive interview with former nissan ceo he was arrested again last night. >> facebook leaving hundreds of millions you user data on public amazon servers, back in a minute. ♪ ♪ ♪ if you want me, i am gonna be -- ♪ ♪ this is not a bed...
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futures quiet this morning pointing to lower opening for the broader averages any news out of u.s.-china trade talks jamie dimon released annual letter writing there are just a minute concerns around china's economy in addition to trade manageable calls u.s. trade issues substantial and real. >> want to talk about, jamie dimon's letter issues around china he is right wisconsin wants to get into china wants the chinese to open up markets so that american businesses can sell to 1.4 billion people why on the list. >> in the question do they mean it this time? the messages out of china formal statements new policy new laws, they -- they have -- announced within last few months, are all about solving this problem now the question is are they going to mean it this time actually going to allow u.s. businesses to operate there in a -- fair
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manner? and we will see when trade deal. >> one of several elements you've got, china buying more commodities from u.s. the big items the ip theft forced transfer of technology. >> jamie dimon optimistic about china there are true kernes not just trade soybeans this is about a lot more copyright frirjtr infringement no minimum wage don't care about solutions issues in china, that are a lot bigger than i think people are giving credit for are concerned going into china. >> i think the president ought to think about taking off the tariffs if he gets the deal he wants. because if you leave the tariffs in place, pending a check of china behavior in the future what did we really accomplish? >> it seems he is willing to keep tariffs if place that is seems like that is where this is going. dagen: he is clearly, steal and aluminum tariffs in place worried about state of u.s.
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auto industry you drove up costs billions of dollars still basically putting thumb down on auto manufactures trying to blame somebody else for it that is tariffs probably won't go away soon. >> maintenance drag on economy may not be relieved by a deal, if there is no relief from the -- essentially taxes on consumers. maria: are even though the economy seem to be holding up strongly in face of weakness across the world unemployment numbers out tomorrow, we've got jobs friday tomorrow joining us to preview that talk about, investing today is federate investor senior equity strategist linda thanks for weighing in jobs number tomorrow how much priced into the market what are you expecting from jobs' report tomorrow morning 8:30 a.m. eastern? we are expecting to see unemployment rate steady 3.8%, 180,000 jobs to economy in march. >> well, a fully ployed economy doesn't seem to me we should worry about it too hot
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or too cold have to not be market moving event i wouldn't think. >> what do you think is going to drive markets how are you positioning clients do you want to buy stocks or pull back? >> well, bullish on market i think s&p finishes 3100, that is that is based on a reasonable aring earning growth rate market deciding by the end of the year that actually there is not an inflation problem, the fed could stay for sometime we don't worry about o unemployment rising dralt a recession on tape we just ran two on the way down last year the end too quickly on the way up this year bull we are would like a consolidation in here. of the. >> good morning, born and raised in pitsburgh love your city looks like fed isn't going to raise interest rates soon what secretaries of state do you think are still undervalued have opportunity for run-up. >> well, we like growth we
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believe back half of the cycle so that would mean, you want to get growth more reliable growth. we really think that you got to have balance in your portfolio, as we know there are a number of worries about trade around the globe worrying about china maybe falling into recession worry about our upcoming political season now what that might mean for the earnings outlook, a lot of exposure out there -- we don't know how they work out so we think he everybody ought to have balance to portfolio high quality dividend i like very much for income not expensive right now. maria: quick before you go, we've got calendar one first-quarter earnings coming out beginning friday. with the banks, 12th, would you put money to work in those areas, ahead of earnings or expecting a tough earnings period quick linda. >> well i think that the earnings season to about tough in q1 is understood nobody cares as much as outlook into the next quarter rest of the year financials looking expensive to us that is one of
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our overweights. >> we leave it there thanks so much linda joining us there from federated don't miss jobs america special tomorrow morning kick off 8:00 a.m. eastern we are identifying, where the jobs are, in this economy all hands-on deck jobs in america tomorrow morning, 8:00 a.m. right here. president trump tweeting on mueller investigation said according to polling few people seem to care about the russian collusion hoax some democrats are fighting hard to keep witch hundred-dollar alive should focus on legislation or better investigation of how ridiculous collusion delusion got started, so illegal, writes the president quick break coming up next border bament president trump preparing tovist southern border in california tomorrow as he eases down on shutdown threat the impact of immigration debate facebook leaving hundreds of millions of users' data exposed the company efforts to fix the breach coming up.
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thursday, april 4 your top stories 8:33 a.m. east coast markets searching for direction, this morning, take a look, yoosios now up 18 points s&p 500 the exactly where it closed yesterday, and nasdaq down 10 points investors waiting on news out
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of the china trade talks, and they are thinking that i want could be good news looks like the two are very disclose. in europe this morning, take a look at indices we do see weakness there ft 100 down 37 points half a percent cac quarante in paris down 12 the dax index up 26 points even though we got weaker-than-expected economic data factory orders down on in germany this morning, in asia overnight markets finished moe. higher exception hong kong, as you can see. he is back behind bars, former nissan ceo carlos ghosn was rearrested last night moments before i bass to start an exclusive interview with him on telephone. >> facebook reportedly leaving data of millions users exposed on amazon servers. >> how big market a boost due to falling mortgage rates a closer look there, later this hour, first our top story this half an hour the battle at the border, president trump headed to california, california border tomorrow as he eases back on threat to shutdown
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border operations as mexican officials warn of port of entry delays, that is causing tens of millions of dollars in business losses, joining us now former ceo of mcdonald's former dave's barbecue ceo fat brands international chairman ed rensi a pleasure. >> good to see you -- >> as business guy what is the impact of the border closing? give us -- >> it is going to be significant i think trump is using this as a negotiating ploy frankly because the impact would be staggering talking about 12 billion dollars worth of food and produce coming across that border annually car parts medical supplies, things of that nature going to impact a lot of businesses in the united states i know they are working right now, to try to minimize some of that stuff, but the reality is we've got a sovereignty issue in our border is being pen traitdz if it were just people looking for opportunity would be one
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thing we got a lot of bad characters coming into this country druz we need to protect ourselves. >> hi james freeman here "the wall street journal," and kudos on naming your company fat brands very strong. >> [laughter] >> i am wondering, as far as the that impact on the -- the food service industry that you obviously, focus on, we saw the news on avocados, the potential for the supply to run out within a few weeks, if the mexican imports are cut off. it goes beyond avocados sorts of millennial avocado toast jokes aside how would acreage diner notice. >> you are going to see shortages, some things taken off menu you can't get the product. whether avocados tomatoes whatever pb this drops are coming out of the ground off trees, and if not consumed going to rot.
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so short term closing of border has a lot of long-term implications we need to about fearful about that i am hopefully with this capitalist system putting pressure on everybody, in our house of -- of the house of congress and senate, to a start dealing with he immigration issues more sensible way i hope don't you impact menu pricing i hope it doesn't impact ability to make money in restaurants but as it is going to be very, very difficult, to say the leaat least if that border closes. >> good morning shifting gears i want to ask you about chick-fil-a i am not sure if you are aware they were band from airports of san antonio and buffalo given social stances what advice would you give them? >> this country was founded on religious tolerance for a lot of great reasons we have to respect each other, agree to disagree i get a little bit
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concerned when we are so intolerant about everything that we can't find common ground to solve problems, and move forward i am not going to xhoebt what san antonio does, or what chick-fil-a believes in, we all get to be who we are in this country one of the great things in this country. and i think some of these issues have taken on a preponderance of weight scary in a lot of ways i hope they get it resolved sensibe intelli we all ought to have right to economies a happy life. >> that he will to academics out there, huh? ed the minimum wage target the latest company to raise minimum minimum cannabis n$13 an hour a dollar increase from march, the latest from alexandria ocasio-cortez blew up at which time over minimum wage comparing to a seven dollar coysant coysants at la guardia going for 7 dollars
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apiece some people i think getting a whole hour of personal dedicated human labor for 15 dollars is too expensive tweeting on april fool's day was no joke, your reaction? >> well i wouldn't pay seven dollars for a coross antiparis or anywhere else she is making a statement about the value of workers the value of products, and i don't disagree i think best is a capitalist system that allows all wages to seek a market level and i think target's move is simply a reflection of the fact near full employment it is extremely difficult to get employees to work i have talked to -- multiple -- i had din with a bunch of mcdonald's franchisees they're struggling to find employees at any price, i see some 16, 17 dollars an hour can't find employees. let the free market determine the wage, and don't buy seven
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radar croissants a bad idea. >> alexandria ocasio-cortez complains about the flint water crisis, upset about children having asthma in the south bronx upset about a seven dollar croissant i am not saying same level as wage she points to where government fails to citizens government is the problem, not the solution. whether it is the city of new york a socialist city doesn't i can take care of residents can't basically help children with asthma despite a fully socialized medical system or 7 dollar croissant at la guardia rents are high because it is essentiallyly, controlled by the government. >> a government is extremely inefficient ought to get out of business the housing authority in new york city and tens of thousands of
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apartments that have lead paint ceilings falling down no boilers, government is in inefficient de blasio are is grossly underperforming what his about responsibilities are, and look at that flint water crisis they know what the solution is they need to put phosphate in the water to trap all lead they need to get rid of lead pipes had multiple millions of dollars spent, grossly inefficient they are not solving the problem i don't get it they ought to about thrown out next election all of them maria: jo ed on china story, cornerstone macroi think one of the best research shops out there talking about the reports yesterday that -- talking about a deal between u.s. and china, about would give beijing until 2025 to meet the commitments on commodity purchases allow u.s. firms to wholly own enterprises in china they think a weak deal this is a deal that robert lighthizer likely to oppose he privately
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could it happen trump wants a deal a real chance they say does not happen, because this is a weak deal what do you think do you think a detail happens with china or not? >> well i think some kind of deal will likely happen, but if it is not a good deal there will be enough public opinion, from businesspeople, and institutions of finance, that we will soon know what the deal really looks like. i am very concerned about china because they want to dominate globe as number one entity on planet it is dangerous to totalitarian system of government look at swine flu problem they've got, they consume a lot of pork export a lot of pork, that swine flu epidemic would wipe out their entire pork crop. they have no means every getting rid of 100 million pogz own own one of the he largest hog procures in united states those issues, intellectual property theft really significant issues that are going to impact us for the next00 years. >> we have been focusing on swine flu this morning you are
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not hearing that anywhere in media a hundred million pigs they have to dispose of, dead pigs extraordinary. >> historically what they've done dump them in river in the ocean that let god take them that is not going to work the numbers are is too staggering. >> a hundred million. >> it points out extreme weakness, of the government that functions the way they function that problem is solvable. >> we will continue the conversation thanks so much see you soon ed rensi, home buying heats up wave of strong housing data shakes up the market to be the best in years stuart stuart ways in carlos ghosn behind bars i was about to start exclusive interview with him last might 10 agents walked in his house, and took him away i will share the full story later this hour a update from tennis channel right now. >> welcome back to report for fox business, the volvo car in
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maria: new mortgages soaring as loan rates hit 15-month lows joining us the host of varney o to talk more about that stuart varney good the see you good morning. >> you, too, you might call this the stealth stimulus? maybe? you've got 4% mortgages, the latest mortgage numbers today in about one hour's time, could be still at 4% as expecting, last week, the mortgage bankers association said refi activity up 36% a shot in the arm for housing industry regenerally, i think it is a shot in the arm for the economy. if you got 4% mortgages, and what 6 months seven months ago
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talking about, 5% mortgages i think you've got a drop here i think that really helps efrn. frankly, i am surprised at how rate-sensitive people are. a jump 36% in refi activity because mortgages go from 4.25% down to 4% even? have i didn't realize people were so rate-sensitive, and so pentup with demand to get in at lower rate but they are, and i think a shot in the arm for everyone. >> you are right even on this program a couple people said their green chutes in housing i know more in 10 minutes see you top of the hour 9 a.m. eastern after "mornings with maria" join stuart fantastic panel after program president trump tweeted here is what he just said there is nothing we can ever give to the democrats that will make them happy, this is the highest level of presidential harassment in the history of our country writes
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the president carlos ghosn back behind bars as about to start exclusive interview with former nissan ceo he was taken way to the prosecutor's office. >> privacy alert facebook leaves hundreds of millions you users data unprotected the efforts to fix the situation coming up. ♪ oh, baby -- put it together and we will get it undone, much lighter ♪ ♪ oh baby, you a walk in the rain -- ♪ run with us in the unstoppable john deere gator xuv835, because when others take rain checks... we take the wheel. run with us. search "john deere gator" for more.
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. maria: facebook under fire millions of users information left exposed on a public server gerri willis looking at that. reporter: that is right, maria. amazing story here, facebook
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two third party facebook apps storing user data on oom amazon certify versus allowed them downloaded by public information hiding in plain sight, up guard a firm making this information public, the two offenders cultural clefkz mexico city behaved platform 45 million followers openly stored records on 540 million people. this is a defunct app stored names pass worse e-mail addresses on 22,000 people kind of information used to about freely available, and facebook itself tried to crack down on it, meteorology, goi guggenheim raised rating to buy privacy concerns remain back to you. maria: talking about what is going on in japan, carlos ghosn back behind bars going to tell you all about it the details as i was about to start an exclusive consumptive with the former ceo last night when he was arrested back in a minute opini
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maria: let's end where we began the program. japanese authorities re-arrested former nissan chairman carlos ghosn early this morning in tokyo. ghosn facing new charges of financial misconduct. he's denying any wrongdoing saying quote, my arrest this morning is outrageous and arbitrary. it is part of another attempt by
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some individuals at nissan to silence me by misleading the prosecutors. i will not be broken. i'm innocent of these groundless charges and accusations. it was a dramatic evening. i was back at work last night at about 5:30 p.m. because we were about to do an exclusive interview. he was going to call into the show and i was going to bring you that interview this morning. as we were about to get started, he was calling into the show. ten agents burst into his apartment and put him in a room and talked to him and then took him away. they were both still in their pajamas, carlos and his wife, carol. they then were voluntarily forcing carol ghosn to answer questions. she said, after the agents left, i wanted to use the bathroom, the officer entered the bathroom with me and did the body check. they kept the bathroom door open while i used the bathroom. a female prosecutor stood in the shower with her while she showered. they are trying to break him. the whole point is to get carlos ghosn to admit to something. he remains saying he's innocent.
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guys. >> japan has a 99% conviction rate. this looks really bad for ghosn. >> the prosecution has not presented any evidence. eventually we will hear it. we would hope eventually to hear his side of the story as well. renault has raised questions about his expenses. maria: yes. okay. you are saying they did their own investigation. we will keep following this. "varney & company" begins right now. stuart, take it away. stuart: good morning to you. good morning, everyone. the meeting is on. china's vice premier goes to the white house, a trade deal looks real close. there's more talk of a trump/xi jinping summit. the president tweeted that the china deal is going well. see the bottom right-hand corner of the screen. little impact thus far on stocks. it's not quite there but we will get it up for you. the trip is on. homeland security chief goes to the border. kirstjen nielsen gets a first-hand look at the worsening crisis. migrants are flooding across the
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border. they are totally


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