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tv   Mornings With Maria Bartiromo  FOX Business  July 30, 2019 6:00am-9:00am EDT

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and then round two of the democratic invasion beginning tonight. they are the top two candidates to watch. the big issues expected to take the spotlight and who has the most to live --dash mike loos coming up. even though sales are up find out why right now. mornings with maria begins right now. [music] we have a big show this tuesday morning. fox news contributor. liz is here. the editor and chief of the daily call.
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along with the forbes media chairman. it's great to see everybody this morning. we have the federal reserve. with the pmi coming out. that's where we first saw the weakness in the economy. the thing to watch for is hong kong. if you get a bad situation in hong kong it's can affect the trade negotiations and a lot of other things as well. he was so adamant in terms of this extradition. the demonstrators also realize that beijing has been engaged in step-by-step. this is it for them.
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that's where the protesters are. they see the future threatened by all of this. and they don't have a place to go. this is it for them. >> a does he really feel threatened by this affront to beijing's power. the trade talks where they're going to be be somewhat influenced by that. he thinks it is completely unlike 2015 this is a really serious pressure point for beijing administration i think that's pretty serious. to your point it's a different crowd coming out. he feels it feels very different in terms of the crowd and the way they are behaving and et cetera. it's a very dangerous proposition to be on the frontlines of this protest. we have a lot to talk about including that the this
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morning. clete williams is with us this morning. the u.s. immigration detention center was here. the special counsel the conference chair and member of the senate foreign relations. along with the former assistant secretary. don't miss a moment of it. at hacker are still personal information addresses in things on more than 100 million customers at one of the largest banks. the police in seattle said paige thompson is a software engineer who use to work for amazon.
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>> we know from the history now there is a penalty for this i think these breaches become regular events with these companies they have got to get smarter and tougher in every single company is america is under their gun to protect the data. >> how could one can one person do this effectively. this is an american citizen. one person decided they want to get all of the information. >> i remember when snowden took some of our greatest secrets and spread them abroad. this one seems like it will be difficult to blame unjust internal problems when they had one of their own former engineers who is involved in this hack.
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i single person able to take all of this data. >> all eyes on the federal register. we have day one of a two-day meeting beginning today. the rate cut tomorrow would be the first one in nearly a decade. the fed is floundering. they are to go for rate increases this year. a total reversal in december or january. we will get rate cut. what do they do afterwards. and they should not even be in the business of doing interest rates and manipulation in the first place. the idea. i love the opt out in the journal this morning.
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this is my favorite line. on the ability to speemac mike on the available evidence they are making the prophecy. they don't know what they're doing. the president goes after them and then they say data change. it's not confidence building. they actually have an impact on the economy. slow things down. i think the mistake was last year not this year. present trumpet was talking about that. the situation overseas should have been taken into account and i think that's what they're doing now. the truth is in europe they can't get out of their own way. the growth rate has stagnated again. this gets us something very important and that's in europe in a little bit in this country the structural problems that he'd growth.
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in this country the overhang on trade. the federal reserve has to keep step with some of the central essential banks around the world. that is a consensus from money managers out there. the rest of the world is impacting our dollar. let the markets set the rates. they do in the treasury market. 2020 democratic hopefuls. ready to take the stage in detroit. the big names to watch. chris, what can we looking for on that stage. >> i'm not expecting too many fireworks. one of the big things that we will see for the last time tonight most likely in any
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debate. this is the last debate where you can have the under 2%. i don't think that many of them will make the big splash. maybe has moment to try to overcome. he seemed better in new hampshire and iowa. he still has to try to push himself apart from both sanders and moran. will see what kimmel -- kamala harris has to say. >> it is good to be in interesting movement. those are two of the big names that are on the stage right now because harris is sailing. we will see what any of this if it moves markets in the next couple of days. it is expected that the earnings will be $2.10 per share.
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your expectations here. the fact is they are depending on dividends and stock buyback. what is the big thing for the future. >> given this china fight. they're their neck and a get any exemption in terms of tariffs. no exemptions and you know this next part of $325 billion they will see a major impact. we are all get to feel that. we will talk about all of that. the trade is in focus negotiations.
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before the shooting. it left three dead and 15 others wounded. the committee remembering the community remembering the victims with the vigil. police were praised for their quick response. >> officers shot and killed the gunman while in las vegas. >> pressure is mounting from wall street. it is cutting one third of its marketing department. in their chief operating officer is leaving. his role as been is being spread out to other executive. beyond meat shares sharply lower. this extends losses from yesterday. they want to sell an additional 3.25 million chairs.
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67.3 million dollars it did beat the estimate so much excitement over the ipo earlier this year now the pressure is on to deliver. there is an impossible burger. it's becoming a very crowded field. popular but crowded. >> china trade talks. we will type at a hotel package that is a dream for any dog lover. so are you feeling?
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>> welcome back u.s. china trade in focus this week. the latest round of negotiations. expectations are set to be low. it's good to have you on the program with us think things so much for being here. >> i think we will eventually get a deal but i think it will be a while. the expectations are low for this week and that makes sense the two sides have not talked for a while. what they really need to do is feel each other out. what worries me though about a deal is that if china is not going to go back to where we were in may. the u.s. has a packed agenda.
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if china is back in a go back to where we need them to be. i think you will see u.s. attention diverted elsewhere but i must come back to this and say we still get a deal because i think the politics for our right there is a lot of chatter out there. the president doesn't really need a deal because he can show he his tough going to the election. if he can get a deal that really moves the ball on that the structural issues. >> will it move on the structural issues. the chinese walked away from things like putting into law that you're not allowed to cheat and steal ip from the west. does china want a deal. do they really want one. it doesn't look like it. they think that they can wait president trump out. >> i hear that coming but i
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don't think it reflects reality. let's talk about this for a second. you are seeing stories every day of companies starting to move their supply chains out of there. that's something that china does not want to see happen. give a major china investment bank. they released a report that this trade dispute has cost china over 2 million jobs in the industrial sector. a couple weeks ago now. reporting the lowest gdp number they had reported and 25 years. i know some of the books are cooked but the fact that they were going out there and saying this is as low as it has been in 25 years. i do think they are in a position where they do need a deal i do think once we get back to the table i think it will benefit both sides. even if that's not the conventional wisdom. as china going with the alternative strategy as well. and tying those companies even
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more to beijing and cutting us out? that is absolutely part of their strategy there is a whole series of negotiations that are involved with the one that most people are familiar with. they are trying to lower tariffs with about 15 to 16 countries in the region. you will also see them pursuing that to show that they don't need a deal with the u.s. you talked about the slowdown in gdp growth in china some people think it is much worse than that. and you do read almost every day about companies going bankrupt in china. what is the lead of the actual economic system there. the reason they are holding on is because they are pumping a lot of bad credit into the market.
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that can't last forever. most of the real serious economist that i talk to say this is a little bit of a sugar high. this is certainly a temporary fix for them. i'll think they are quite yet in desperate straits but they will run out of those bullets. and then they will have a real problem. they will need a deal before that happens. house democrats have met four times currently to talk about the proposed agreements. they are making progress. but some house democrats are aiming for a vote before the end of the year. it's up to nancy pelosi. there has never been an agreement more than the bipartisan support. they did a great job here of drafting an agreement that will create a lot of jobs in the u.s. it hits the key democratic priority. i have heard good vibes coming
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out of the talks with pelosi. ultimately they will go to get there at the fall. they are never gonna give the president a win. we just had a deal last week on the budget these sites can work together when it's in their mutual interests. this is can have big problems. you can't make a trade deal with your friends what about the other trade deals you're talking about. >> we want to talk 2020 and trade. they roll out the trade policy plan before endorsing any deal. she would require negotiations with labor and environment a environmental groups to trade committees. to analyze how the deal would affect the entire country. it is a classic far left trade
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plan. those are not the folks that should be at the front. those things ought to be considered. instead the focus over here is on environmentalism and the green new deal. and extensions of that. that is a stunning contrast. they would rather had their own. if they talk about the economy it's all happy talk. how do they get along anymore. they are trying to shut down public works projects all over the country. that could be a prime issue for donald trump in 2020. what is it take ten years. to do a highway. what are all the obstacles.
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all of the regulatory reviews that are absolutely unnecessary. with the pomp and circumstance. remember that. the fact that the environment is in there. that is traditional democratic policy. the way that it was brought in and this notion that if you're not up party to the paris agreement we can do a trade talk with you. it was just an attack on corporations. they apply it millions of americans and i don't think that is the way to go. they just post quarterly earnings. good morning it looks pretty good. the earnings per share for eli lily is coming in.
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that also beats revenue estimates. also raising its guidance for the rest of the year in 2019 that is good. the big drop is truly city. a once a week ingestion piece. it brings in just over $1 billion in the quarter. this is the company of course that has cialis and prozac and all of those drugs. you should see this moving up about half a% in premarket. pretty good it report report in most importantly raising its guidance. corporate profits proving to be more resilient. we were expecting a down quarter in terms of s&p profits. the much better than expected.
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welcome back tuesday morning everybody. thank you so much for joining us. happy to say it is tuesday july 30 versus top stories right now. 6:31 a.m. on the east coast. it is day one of a two-day meeting today. taking off. the investors are waiting for a rate cut tomorrow.
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when the fed announces that tomorrow at 2:00 p.m. eastern. the futures are lower heading into the meeting. we are expecting a lower opening for the broader average. the nasdaq futures lower by 30. they are up on the session. investors wait out the decision. we are just getting earnings. we will get to that in the second. the global markets this morning. it looks like this. the ft 100 is up 14 points. that is 172 points lower in germany the economic data there that we will tell you about. markets were higher on trade. we are also looking at the bank of japan announcing it is leaving monetary policy unchanged keeping extremely low rates through the spring of 2020.
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another big day for earnings. before the open. we will have all of the open. apple will take a look at what to expect thousands of officers exposed. and then a puppy party. one hotel will bring a bunch of furry friends along with other treats for you to enjoy. all of the stories coming up. the federal reserve is in focus this week. the first interest rate cut in more than a decade. the first one since 2008. is coming as the united states has experienced record low unemployment and solid economic growth. the president tweeted this yesterday. joining me right now as the
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national holdings corporation. in art, that is a dilemma. the economy is doing well. fifty-one your low on unemployment. on top of 3.1 percent in the first quarter. >> the fed is really struggling with what the rate should be. finding what the new normal is it seems to be broken or as not as effective. with very low unemployment and yet we are not seen significant wage price pressure. what we thought was normal was probably a little bit too high. also at the same time the economy around the globe is slowing a little bit. >> i mentioned this in the journal a little bit. this morning and the wall in the wall street journal the confusing federal reserve. on the available evidence the fed is making up power on the fly.
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they like to say the decisions our data dependent but to ask it looks more like the central bank is on no particular data at all. it's really try to accommodate mister trump's public demands for rate cuts. it's interesting. has gone from being on autopilot. they will wind down the balance sheet for a while. and then we became patient. what changed in between. it was really a slowdown of global economic activity. we are seen all sorts of signs that the global economy is slowing. can show up on the shores. probably the other thing is the entire ten years that they had been low on interest rates we've seen no real inflation push. what has happened to inflation. and what drives that. all of the data that we've seen. has become dovish.
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a better job's number. durable goods. across the board the data has been better. and what is it that could happen and end up on our shores. >> and there is a little pickup in inflation. it does not last long. i did think it was very generous of janet yellen to come out in favor of a rate cut a kind of gave you a bipartisan flavor. not just about trump is just perhaps the right thing to do. i think when they worked together for a long time they have a lot of respect for each other. i think they make the case for anything. are we actually using some of her ammunition now that we may
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need it later and why are we using it now. unemployment 50 year low in unemployment. the consumer is actually doing pretty well. corporate is not doing as well. it has been all about the consumer. consumer facing companies had done better. perhaps that is where the concern is. low mortgage rates have it change that so much it's more of an inventory struggle. >> why is the federal reserve is still doing that. it's the dead and dying for a couple of days now. and then what is it that addresses the policy after that. how do we figure out what phone employment as right now. >> why should they be tried to do that in the first place. they have to have something.
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if you leave the economy alone deregulation of tax cuts. >> the last couple of years. i think that's what they're struggling with. is not the only country looking at this insane we've gotten it wrong about inflation. when this started everybody was saying the other thing. i think it's all been impossible for banks to lend. >> would you put the stocks there today. would you buy this market here? >> understand this. the new all-time high in the middle of the catalyst drill week like we had right now. we never advocate making big changes. in a week or two. even if we are here or higher i think this market is in very good shape.
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we will leave it there. great to see you. our token with the latest there. that is tomorrow at 2:00 p.m. presidential hopeful is suing google for temporarily suspending the campaign ad. the hawaiian congresswoman said she would be was the most searched candidate. they can censor anyone. >> this is about the unchecked power that these big tech monopolies have over us. and how this is a real threat.
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we all had to spend it united to protect our freedom of speech because today it's me tomorrow could be you. dish network has lost 31,000 satellite tv subscribers. an animal -- analyst estimate. by prepaid businesses. to create that time. to invest billions of dollars in building out their own 5g network. let's talk about puppies. puppies delivered to your hotel room. in celebration of national dog day. they are doing something kind of special. they can go for a private puppy party. guests are also can have the option to rescue these adoptable and probably
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adorable pets. i mean come on. i was just posting about that this weekend. there is my rescue who is doing great. loves her new home in new york. they had part of the stadium sectioned off to bring your dog. you don't need a hot dog bring the real dog. real quick we talked to the other night. it's been censored by google. this is a real issue going into 2019. why put yourself out there like that.
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even companies like ours. there is millions of dollars in business every of business every year. with facebook and google. they shut it down arbitrarily. they just say it's over. at suspended. they're able to go on tucker carlson tonight. and were able to talk to political condition -- connections in usc. there is some accountability in the future for this kind of behavior. i don't know how it can happen. as can happen. don't forget what peter teal said the other day. there is the issue of privacy which mccarthy is trying to push to make sure everybody knows what they're doing with the data but then there is this. and an sensory -- censoring
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conservatives. >> there doing the opposite of what they're doing. they went out of their way to be fair with everybody and google should remember that. a quick break and then big banks at the border. los angeles city computers compromise. it's bright right after this. let me ask you something.
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breaking his right now. earnings come in and as at a dollar 30 per share. the revenue at $11.76 billion. the estimate was for 10.9 the nascent beats on top and bottom line. they also narrowing and raising their earnings estimates for the rest of the year. the same story on revenue narrowing and raising their revenue. among the key drugs. is and the health sales.
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that is up 3%. there up 13%. overall much like eli lily a strong report more than 1003%. the orlando sentinel reports that the florida mosquito watch shows more cases of west nile virus. residents being reminded that florida has more dangers than just sharks. data potentially stolen from 20,000 applicants that that's potentially evolving personal information of those applications. in the denver post this morning says that the news control in an effort to combat
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air pollution. they propose controls. colorado aims to comply. they will want the state in line with ongoing efforts with ongoing climate change. tremendous progress is being made. we assumed that they would ultimately be forced to change the horrible immigration that horrible immigration laws. they didn't. yesterday or sunday i spoke with the dhs secretary and he secretary and he said 54 miles had already been built and he is expecting 200 miles plus at the end of next year. certain lenders choosing not to extend credit for detention centers. that is a bad idea and everybody gets hurt. that's next.
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>> what was behind that decision working with the detention centers. to focus on the decision first i think you have to think about how we make this. move a group of senior business people that think about this decision. we really try to base it on what our teammates tell us. they basically said we should make a statement here. it holds for the system. about a week and half ago
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expanding the decision to stop all funding to private prison companies that run detention centers. that decision actually hurts all parties involved including the activists who are fighting to start border detention. it is good to have you on the program. i think you think you so much for joining us. >> where you one of the recipients from bank of america. we've have a 20 year relationship. it's been frustrating that these banks are trying to the state and local level with the new facilities and helping with overcrowding. see mac tell me about your business and why would it be something that the chairman had to get involved with. we had been around 35 years based in nashville tennessee and we been doing work with federal government to state government all that time. it's a couple of key things. facilities that we own and operate. also provide cost savings for our customers.
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it will replace a hundred 55-year-old. these are facilities helping them. they are helping them get employed. not only that if you're upset about the way detainees are being treated at the detention centers and you stop funding what does that hurt. it hurts the people being detained. they programs. that is the people that they are hurting. they have come across the border and need a very safe place for them to preside. there's nowhere else to get the funding. another example our largest in the state partners here.
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it was at 200% capacity. you are hurting those states that are critical at a time where they have overcrowding. they need to reduce overcrowding. we need the capacity for them what else do we need for better conditions for the migrants. in terms of that region. >> we are very thoughtful with talking about that. we built a facility in texas and we built it day one for families. not a traditional or what you think of at correctional facility. it has programs. we try to be very purposeful on the front end. seen what the population is. what did you do as a result of losing the funding.
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>> the big banks that made these. it's very political but i will tell you maria we have large refund banks that want to do business with us. the work we do and serve this mission. thanks for having us. thank you so much. we will be right back.
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maria: welcome back. breaking news right now, procter & gamble earnings are out. let's get to ashley webster with the details. ashley: another good report. earnings per share for p & g, the world's biggest consumer products maker coming in at $1.10, that beats $1.05 was the still. revenue was better than the $16.86 billion. a beat on the top and bottom line. just going through some of the numbers, the sales growth looks good. organic sales growth, up 7%. sales growth overall, 3% to 4% on the upside. also, the guidance adjusted eps
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growth for the fiscal year, up 4% to 9%. that's a wide range but nevertheless very positive indeed. also, just noticing here that the company says it estimates it will pay more than $7.5 billion in dividends and repurchase 6 to $8 billion of common shares in the fiscal year 2020. as you can see, the stock also up more than 1% in the premarket. so that's three for three, 3.3%. so procter & gamble strong, consumer products company with strong numbers for the latest quarter, marie. maria: that's a big number, up three and a third percent on the stock. last week in the gdp report, we heard that it was the consumer that was doing well versus the businesses who were actually seeing them sit on cash or decline in terms of cap ex, the consumer's actually powering things. >> you have people with lower incomes getting bigger raises than they've had in a generation. they've got something to spend without racking up the credit
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cards. maria: we saw it in the procter & gamble quarter. right now, capital one reporting a day a take breach affecting about 100 million people. deirdre bolton is here with details on that. deirdre, good morning to you. >> good morning. this is addresses, dates of birth, self reported income. this is the biggest breach 2019 when we saw equifax have this kind of effect as well. this young lady, 33 years old, she used to work for aws, she used to work for amazon, their web services, she was a systems engineer, this is the person they think has been the hacker for this. the intention was to sell the data online because basically if you can get access to people who have amazing credit, great self reported income, that's worth more on the black market. you go out, apply for credit, apply for mortgage in someone else's name, so most people say that was her intention to sell it. it highlights the weakness of the web services. so she knew amazon's system very
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well. in this case, where capital one had a potential breach in the firewall, she was able to get in and she used the screen namer ne eratic. there was a white hat hacker who fight ifigured it out and got ih with capital one. as you go to the cloud, the risks are increasing. here we have one for capital one. the ceo addressed it, saying he apologized to everyone, doing their best to address it. maria: look at the impact on the stock, down 5% on capital one. >> this is serious, 100 million people. maria: normally you see all of these hacks from china and russia and you understand what they're trying to do, try to infiltrate our systems. but an american citizen just hacking, a hundred million accounts. >> it's the new face of criminality, the jesse james of this century, i guess. >> we saw with equifax finally a number put on the cost to the company when they had a monster fine for having allowed a lot of
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data to get out. i think this is no longer sort of a sin-free world. now regulators are going to say, hey, you lost this data and you're going to pay for it. >> in capital one's defense, they acted pretty quickly, they responded to the white hat hacker coming, saying you've been breached. equifaxequifax seems to be slowo admit there was a problem. capital one, they said okay, we know this happened, we're going to address this. >> the pentagon is moving towards a cloud system, with a contract with amazon that will have a lot more ammunition against that massive contract after this hack from a former amazon employee. >> before pay pal went public, i remember peter teal and mack lynn telling me, it was $10 million per day that was siphoned off by russian mafia, they were playing a 24 hour chess game, they would make a move, the other side would make
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a move and they would do this as they secured their funding. >> there's so much low-hanging fruit. all these towns, cities, hospitals, that are routinely blackmailed now. >> that's amazeing. >> i don't know where all this goes. there's going to have to be a massive tightening of defense. >> the smaller municipalities don't have all the money to go out and pay for big, fancy hackers or security and they are targeted more than not. >> even nypd. maria: deirdre, thank you. deirdre bolton there. we are spotlighting detroit this morning. democratic presidential candidates are gearing up to take the stage for the second democratic debate in detroit. they're headed to the battleground state of michigan where president trump narrowly won in the 2016 election. 10 candidates will appear each night, tonight and tomorrow night. tonight's group features senators bernie sanders and elizabeth warren, tomorrow night all eyes will be on former vice president joe biden and senators
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cory booker and kamala harris. the field is big. joining us right now is former dnc chairman, ed rendell. thanks for joining us this morning. >> good morning, maria. maria: what comes out of these debates, do you think, tonight and tomorrow night, where we have this major pushback or debate within the democratic party about the way to govern, whether it's this progressive aoc type, very left, or the more mod hmoderates. >> well, it's interesting. you can question what long-term effect these debates have. the first debate, joe biden and -- i'm a biden supporter. he did not as well as we would have hoped. he went down the polls following the first couple days after the debate. but now a month later he's back to the strong position he had before the first debate. kamala harris, who was the beneficiary of a bump in the first two days, she's back -- she dropped 8 points in the
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poll. query, how much long-term effect these debates have. one of the things they're going to toys start the business of win knowinnesswinnowing the pro. it will be interesting to see if they go after each other on positions or past record because in the end, one of those two is going to emerge a and the progressive candidate and then tomorrow night, interesting to see how the vice president does on attacks -- expected attacks from kamala harris and cory booker. maria: i guess they're going to try to one up each other in terms of tonight. >> i wonder where the party is, mr. chairman, on the stage that looks like this. in dc it's chaotic with the executive director of the d triple c resigning after a massive uproar because there was a lack of diversity at the top. here we have a stage with
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entirely white men and white women which received a lot of pushback from the base of the party. joe biden will have the same tomorrow with kamala harris very likely. what do you see coming forward from the democratic party, how to push back on that? >> this is a battle between the progressive wing and the more moderate leftist center wing. just like the republicans had the battle between the far right and more moderate right wing candidates. i think that will continue. it will continue probably through the first three or four primaries. i don't see elizabeth warren or bernie sanders dropping out until after the first month of primaries, maybe until after super tuesday. maria: so eventually you see them dropping out? you think they drop out eventually? >> eventually, i think there will be maybe a one on one between the leading progressive and leading moderate, maybe someone like kamala harris who has sort of a foot in each camp sur vibe viiving -- surviving.
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eventually, probably after super tuesday but maybe before super tuesday, but this goes a little forward with the debates tonight and tomorrow night. >> mr. chairman, can the party survive the lur lurch to the len terms of public economy. they can't use the economy as an issue. a lot of people don't like the idea they'll lose private health insurance. is the party digging itself in a hole? >> well, it's making it more difficult, there's no question. donald trump as you all know is a master of deflexion. if he had to run, yes, no, for re-election, he'd get killed he's going to try to make the issue about democratic socialism. that's easier to make against a bernie sanders leading the ticket than joe biden or amy clop chaor amyklobuchar leading. it's very important for people
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who are for preserving private insurance, want to make medicare an option, to make that point. and you've seen kamala harris sort of walk back her comments from the first debate. maria: she has walked it back. that's what i want to ask you about. because the 2020 hopeful has talked about trying to do both. she unveiled her medicare for all plan. she wants to transform it over 10 years into a federal plan which allows a limited role for private insurers, would be allowed to offer medicare advantage plans. she's trying to walk this balance of saying, yeah, it's medicare for all but we're not going to destroy the currencies testimony in place where 180 million people are currently getting their healthcare in the private sector. but governor, let's face it, i mean, under bernie's plan it's unlawful to have a system like private insurance. so can she really balance both? >> i think it's going to be very
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hard. her answer to what she did in the first debate, where she raised her hand for eliminating private insurance, her answer wasn't very credible. but yet the media said she had a star performance and that she was going to be the one to benefit the most. she's got a problem, can she over the course of time moderate that problem or ameal i don't remembesomehow.we'll see. i think that's more important than roughing up joe biden tomorrow night. >> what about the whole new green new deal and banning cows and things like that, doesn't that put the party on the fringe. maria: and air travel. >> i think the party's got to come out with a platform that says, yes, we agree with the long-term goals of the green new deal but we don't agree with the things that they sketched out to implement it. i think we've got to make that distinction. because we have to be realistic. voters want change but they want change that's achieveable. and they want change that's going to be achieved without
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messing up the economy. >> they also probably want to change without higher taxes, right? it seems as though an awful lot of these programs end up raising taxes on middle class and also seems to me that union workers, a group that i think the democratic party still wants to go after, are going to be particularly hurt by any loss of private insurance i'm really surprised that so many candidates are willing to kind of toss those very hard-won, generous benefits packages overboard in a quest for universal coverage. i can't imagine that works well. >> no, i don't think it does either. you've got 160 million americans on private insurance. let's say 100 million of them like their private insurance. you're not going to tell them that they're going to be forced out of their private insurance into a government program. maria: that's right. >> it's as simple as that. we have a lot of candidates who don't want to do that. >> mr. chairman, looks like the
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hickenlooper and klobuchars and ryans who are pushing back, they're at 1% or less on the debate stage. do you think joe biden will be able to resist, as we've seen him moving further and further to the left as he comes under attack. >> i think this is something joe understands absolutely clearly. we can't force americans out of private insurance. we can make medicare an option. that was one of the plans. we can have a public option in the aca, that was one of the plans defeated by congress. those things will remedy the lack of coverage significantly. but we can't get rid of private insurance. people, a vast number of americans like their private insurance and, yes, you're right, a lot of that comes from unions who have good private insurance plans. maria: they want to keep those plans. governor, good to see you this morning. thanks so much. >> absolutely. good to see you, maria. maria: thank you so much, governor. china trade talks back on track in shanghai.
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i'll speak with john borso about the latest rounds of negotiations, mnuchin and lighthizer in shanghai right now. and a jury ruling against katy perry over a copyright, more on that when we come back. stay with us. the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. lick fast like a cookie dough ninja. apply that same speed to the ford hurry up and save sales event. for the first time ever get 20% estimated savings on select ford models, plus earn complimentary maintenance through fordpass rewards.
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maria: welcome back. president trump tweetin tweetinn this morning, this time on china. he said this, china is doing very badly, worst year in 27. we're supposed to start buying our agricultural products now. no signs they're doing so. that's the problem with china. they just don't come through. our economy has become much larger than the chinese economy in the last three years. my team is negotiating with them now but they always change the deal in the end to their benefit. they should probably wait out our election to see if we get one of the democrats like sleepy joe, then they could make a great deal and continue to rip off the united states even bigger and better than ever before. the problem with them waiting, however, is that if and when i
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win, the deal that they get will be much tougher than what we are negotiating now or no deal at all. we have all the cards. our past leaders never got it writes the president this morning. changes are coming to asylum rules. cheryl casone with details there. can't come soon enough. cheryl: no kidding. attorney general william barr reversed a ruling that allowed migrants to apply for asylum, part of the trump administration's efforts to reduce the number of asylum cases which are backlogging the courts. huawei's business apparently showing damage from being black listed by the trump administration, sales dropped 23% from a year ago. huawei's chairman says washington's restrictions have, quote, galvanized our people. the trump administration says huawei poses a security risk, a claim the company continues to deny. and then there is this. katy perry is in hot water for
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ripping off a christian rap song. the los angeles jury found her grammy nominated dark horse copied a song called joyful noise released by the group flame back in 2009. take a listen for yourself. first, here's katy perry's dark horse. ♪ ♪ cheryl: now, listen to flame's joyful noise. ♪ ♪ i love it. yeah. ♪ i love it. ♪ let's talk about it. cheryl: all right. perry's lawyers argued that the sections in question represent basic building blocks of music and that perry and her producers don't listen to christian music. but the lawyers for flame say perry started her career, which is true, as a christian artist
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and that the album joyful noise was nominated for a grammy and had millions of views on youtube. a jury will now decide how much perry is going to have to shell out for copyright infringement. what do you guys think? i think it sounds pretty similar. that's my thoughts. maria: there are similar parts to it. i didn't think it was that similar when i first heard it. cheryl: you didn't. okay. maria: there are little similar -- >> i've heard greater similarities in songs before. >> maybe that's why my piano lessons didn't stick. >> it's a different key. i think if you change the key it would be pretty much the same. i can't believe this went to a jury. that's strange. cheryl: it might be a an expensive settlement for her, actually. so we'll see. we'll keep you posted. maria: cheryl, thank you. coming up, we're watching the federal reserve today. we're expected a rate cut. the central bank widely expected to cut results tomorrow. we've got the market impact. and taking a bite out of your dinner, many food deliverers
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skimming some off of the top before they deliver your food. wait until you hear that one. back in a minute. ♪ right on the money. ♪ she's goes down right to my heart. ♪ and when it comes to loving me, she's everything i need and here we have another burst pipe in denmark. if you look close... jamie, are there any interesting photos from your trip? ouch, okay. huh, boring, boring, you don't need to see that. oh, here we go. can you believe my client steig had never heard of a home and auto bundle or that renters could bundle? wait, you're a lawyer? only licensed in stockholm. what is happening? jamie: anyway, game show, kumite, cinderella story. you know karate? no, alan, i practice muay thai, completely different skillset.
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maria: welcome back. the federal reserve is in focus, fed chairman jay powell expected to announce the first interest rate cut in more than a decade since 2008. he's expected to do that tomorrow as the u.s. is marking record low unemployment and solid growth. joining us right now is the president of jmp securities, mark lehman. mark, it's great to see you. thanks for being here. you like the rest of wall street expecting a rate cut tom re- >tomorrow.>> i think the rate cs coming.
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i think it's appropriate given what we're seeing in numbers. i think the market is setting itself up for no big change after the announcement but i think we're going to have a decent fall going forward. maria: we've had a pretty good rally going into this or really the markets have been held up and strong because of this expectation. so you think it's all priced in at this point? >> i think for now it is. we saw pretty good numbers so far through the second quarter reports. i think if rates are going to stay this low, people are pricing growth equities differently and i think they're paying more for the best growth companies. we've seen that for some time now. if rates will stay low for a while, stocks will stay higher and growth will be a premium. >> what do you think will happen on the dividend front? >> i think companies have -- >> buybacks are nice, not as good as dividends. >> i think that's right. some companies, you saw the banks get the approval to get more dividends out to their shareholders going forward. i think cash is continuing to be generated by the biggest companies. i think dividends, probably given the kind of cash levels we've talked bow, are going to
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be increasing. what's interesting is the gulf between value and growth. we'll see how that plays out. this is a continuing trend. i think we're not going to see it change. >> do you think pes will go up or will it be real earnings? >> i think earnings driven but pes -- if rates stay the way they are, you'll see people repricing equity for the long term. we'll be pricing in 2020 numbers pretty soon. that could give fundamental growth in the marketplace as well. >> are you concerned about the breadth of the market, so much of the gain has been as it was last year from the fang stocks and related? >> i have been. this gulf that i talked about, between growth and value, has continued. and i think that has been unfortunately a trend for a very, very long time. we've seen the same thing between large caps and small caps. that being said, we saw acceleration in earnings and acceleration of top line in some of the reports we saw last week, facebook is one of them. i think that acceleration of the largest companies -- it's the
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stick with the winners. punish names that didn't see that, netflix being one example. if you're going to acsell your numbers with this -- accelerate your numbers, i think people will pay more for the stocks. maria: what about the year ahead for ipos. it's been a big year for ipos this year, uber, lyft, pinterest, slack. you think after labor day it will be big. >> i think there will be a class of tech ipos and healthcare that will be important for the market, whether they absorb the names or not. there's going to be a lot of names after labor day. your viewers will want to pay attention to some of these companies and see whether they get absorbed by portfolio managers and individuals. there's going to be a lot of -- a lot of tech ipos after labor day. maria: it's not good if you don't have the demand, that usually sends stocks lower. broader march cerkts is it able to -- market, is it able to absorb. >> you're going to see great companies that go public that we've been talking about for some time. you continue to see m&a, you saw
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sales for example make their largest acquisition of a public company ever, in tableau. we saw zoom, we were part of that ipo earlier this year. zoom has been an unbelievable store. those great companies will get absorbed. if they continue to come out and see that reception from wall street, i think you'll see more and more. >> do you detect a mania from shareholders, i want the next fang? >> perfect example is beyond meat today. they reported a great number, you have a 3 million secondary coming. mostly secondary stock, not primary stock. that is one of those things that you pay attention to. and we'll see how that company does. but to date, all the pundits for the last few years who have been saying we have this mania, these multiples, just wait. they've been waiting and -- >> the growth has been extraordinary. >> beyond meat is selling at 100 times revenue, something like that. it was a little bit due for -- >> clearly. $14 billion market cap before
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today. that's a pretty big number. maria: all you need was an you announcement of more stock coming to market and the stock goes down. we'll see what happens in november. mark lehman, jmp securities. tune into our special coverage on the fed decision tomorrow 2:00 eastern on fox business. i'll be joining charles payne and my colleagues here to talk about the fed's move. first, coming up, major data breach to report, personal information of over 100 million capital one customers stolen. what the bank is doing about it. then the budget bill headed to the senate, it's a senate buster, john barrasso is with me on the spending bill headed his way, next up. stay with us. ♪ any way you want it, that's the way you need it. ♪ any way you want it. ♪ any way you want it, that's the way you need it. ♪ any way you want it
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it ise is tuesday, july 30th. your top stories right now. procter & gamble and merck out with double beats this morning. merck raised their guidance for year. we'll get apple after the close tonight. merck is up 3% right now. big moves on earnings this morning. we are waiting on the federal reserve. it is expected to cut interest rates tomorrow. futures are down, going into that meeting. this is day one of this two-day fed meeting kicking off today. dow futures are down 100 right now, s&p down 14, nasdaq futures lower by 60 points, three quarters of 1%. this on top of yesterday's moves which were mixed, the dow was up, the nasdaq and s&p a 500 lower on the session yesterday. the s&p had the second miest close in history yesterday. global markets this morning look like this, as you can see, we
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are looking at a lower situation across the world this morning and the fq100 right now down 10 points, the cac is down 73, the dax index in germany is getting killed this morning, down better than 2%, down 260 points in germany on the dax index this morning. in asia overnight, markets were higher on trade hopes as this meeting is happening in shanghai. the nikkei average was up half a percent. the shanghai composite up a third of a percent. u.s.-china trade talks have resumed, negotiations getting underway. capital one was hacked, affecting more than 100 million customers and then this, a taking a bite out of your delivery. a study reveals how many delivery drivers admit to dipping into your order before it makes it to your door. the shocking number coming up this morning. all those stories coming up this tuesday morning. first, our top story this half hour, the senate is voting on a two year budget and debt ceiling package before the august recess. the measure passed the house
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last week. joining me now is senator john barrasso. senator, good to have you on the program this morning. thanks for joining us. >> thanks, maria. maria: can you give us a tone in the senate to this budget. of course, you've got congressional leaders and the president announcing the budget deal. however, a lot of debate, it is busting the budget again. it would add $1.7 trillion to the projected debt levels. the budget deal would cost nearly as much as the tax cuts, the committee for responsible budget is saying republicans, don't do it. what do you say. >> i congratulate the president on putting the deal together which continues to keep our military strong. it continues to protect the full faith and credit of the united states. it keeps the government open. it provides certainty. but absolutely it spends more than any of us would like. but maria, watch the debate tonight with the democrats. with the green new deal and medicare for all, that would blow all of this out of proportion.
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so we have to deal with the entitlements that we're looking at, medicare, social security, medicaid, the big drivers of expense in this country. but i think the president has done a fine job of putting this together. we have divided government for something that can pass the house and he will sign. i think he's found the right spot here. maria: so under this deal, discretionary spending rises 21%, senator, in the president's first term the budget deal would bring discretionary spending to near record levels. i understand your point on the military spending. but is there not a mid-level that you can reach with your colleagues on the left so that spending does not skyrocket and you could still protect the military? >> i divided government it seems the democrats under nancy pelosi and the far left wing that wants more and more money spent locally, you have to come up with a balance. but realistically, this as you called discretionary spending is such a small part of the budget compared to the mandatory spending.
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today, 11,000 americans will turn 65. they'll be going on social security. they'll be going on medicare. those are the things that continue to go up because you know under this strong healthy and growing economy, tax revenue is actually up because we have so many more people working and even though each is paying lower taxes because of the tax cuts, the total number of workers is bringing in more revenue and still our spending exceeds it because of the drivers with medicare, medicaid and social security. maria: so you're going to vote for the deal then. >> i am going to vote. i congratulate the president. we were with him last week at the white house and appreciate what he's done to make it possible. maria: you're not going to let the united states of america to default. i get that a bipartisan group -- maintain and repair highways nationwide. senator, you introduced this bill. who is going to pay for this?
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>> you're absolutely right, we need safe highways, they is a highway infrastructure bill that the president has paid for. we do have the gasoline tax that is part of that in terms of the transportation trust fund. but that doesn't cover all of it. so this is going to be paid for, the bill markup is today in the committee. we expect a strong bipartisan vote. it deals with safe roads, better permitting, so we can do construction faster, better, cheaper, smarter under the one federal decision plan. the payment i think is critically important. we need to make sure the users pay for it. right now, electric vehicles don't contribute anything to the highway trust fund. but in fact, they put a lot of wear and tear on the roads and that is going to increase so that needs to be part of the funding. maria: so of course there's a lot of things to pay for, a lot of priorities for this government. but when do you expect debt to become a priority, senator? do you expect that if the
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president wins re-election that he is going to start taking a look at the entitlements and trying to rein in spending? >> i do. we raised that last week at the white house when a number of us met with the president about the long-term debt. and i'm somebody -- i vote every year and introduce the approach to say we ought to have a balanced budget amendment to the constitution. i voted for rand paul's balance the budget in five year plan. so i want to get to that point. the president is committed to doing it and certainly that means he needs to get reelected in 2020. maria: let me ask you about china, the trade talks picking up today. of course we also are waiting on usmca effectively on hold until the fall. there are hopes it will pass before next year. mitch mcconnell joined me earlier this month. he said the u.s. should not leave nafta if usmca is not approved. senator, what's your thought on that? the last time i spoke with the president, the president said if usmca does not come to the floor, he's going to go
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pre-nafta. >> well, i would like to get usmca approved. it sounds like nancy pelosi is going to take it up in the house in september. and with regard to china and you were playing some things earlier that the president had to say, i agree. if it weren't for president trump, china would never even be at the table. we know that they cheat. we know that they manipulate their currency. we know that they steal intellectual property and trade secrets. that is their business model. if it weren't for the tariffs and president trump, they wouldn't even be discussing this today. i was in wyoming this weekend at fairs and rodeos and different events. trade is important for us in wyoming. we have products we want to move in terms of our number one cash crop, which is beef. so we have agriculture products, energy products, trade is very important and i want to get these things done. maria: the bottom line, do you think it's going to come to the >> i believe it will come to the floor. nafta will have to go first -- i'm sorry, the usmca will have
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to go first to the house a after they pass it, the senate will certainly pass it. maria: you are expecting that it passes, usmca, so you don't think you'll have that dilemma on whether or not to stick with nafta or go pre-nafta? >> well, i know in wyoming talking to the farmers and the ag folks there, they want to stay with nafta, they prefer usmca, if not, they want to maintain nafta. maria: let me ask you about the debates tonight, senator kamala harris unveiled her healthcare plan ahead of the second democratic debate tonight in detroit. she's going to be on tomorrow night. but the plan focuses on medicare for all but it is also including private insurers. can you do that? remember, first she raised her hand and said yeah, i'm endorsing medicare for awful when she figured out that it actually does away with 180 million people's private insurance, she backtracked and said maybe we can do both. can you? >> well, you really can't. what she has co-upo co-sponsoree
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senate, along with all of the -- if not most of the democrats running for president, is the so-called medicare for all, a one size fits all healthcare plan. you will tell all your viewers, under any of these plans that they democrats are proposing you will pay more, you will get less and you will wait longer for care. the green new deal, take away your job, medicare for all, take away your health insurance if you're one of the 18 180 i don't kno180 millionpeople who get it. that's the contrast through the 2020 elections. i'm a doctor. i know what it's like to take care of patients. want to make sure people get the care they need from a doctor they choose at lower costs and certainly medicare for all is not the answer. maria: it's interesting that they all are endorsing this, knowing that it does away with private insurance. so you don't think you can do both. that's kamala's plan. what do you think we'll hear tonight from bernie sanders and
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elizabeth warren, each trying to one up each other on some of these socialist policies. >> i think we're going to see this mad dash to the left. they're ca going over the liberl cliff. the party has taken a liberal left turn. we've seen it on healthcare. we've seen it with the green new deal. you've seen it on abolishing i.c.e. in terms of our borders, in terms of abolishing the department of homeland security. you've seen it on item after item after item. it just seems this dramatic move towards socialism is not what i believe that your viewers and my voters in wyoming are looking for for america. they want to have a strong, healthy, growing economy. people at home are delighted, the fact that we have 6 million new jobs since president trump has been elected. bernie says well, it's just the 1% that have advanced. people all across the country have had new job opportunities, wages are going up across the board. and that's a result of the
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policies that we've come up with, the president said he wants to cut two regulations for every new one. it's turned out we've cut 13 regulations for every one new one. maria: we saw growth last week when we saw the second ga quart. thank you. we'll be right back. sonoma county declared a homeless emergency in 2018. you have to know the individuals you're serving to understand their needs. working with ibm watson we can bring together data spread across dozens of departments. that gives us a fuller view of the people we serve. dear tech, dear tech, we need to look after everyone in our community. and we want to help our fellow human beings. ♪ ♪
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maria: welcome back. president trump visiting jamestown, virginia with political tensions with minority leadsers on the rise. cheryl casone with details. cheryl: the president will
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deliver a speech to mark the 400th anniversary of the first representative assembly. black state lawmakers are boycotting the event in protest. they say the president is tarnishing the celebration because of his comments towards minority leaders. white house is arguing those lawmakers are pushing a political agenda. well, looks like job cuts are coming to citigroup. bloomburg is reporting citi plans to eliminate hundreds of jobs in its fixed income and stock trading businesses this year as revenue is falling. that includes nearly 10% of the equities unit. job cuts are seen as a troubling sign for wall street as clients move to the sidelines amid trade talks and the easier money policies. citigroup shares edging slightly lower in the premarket. well, a new survey is behind, get this, that delivery drivers are confessing, you're not going to like this. a new survey finds 28% say they nibble on customer food before
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it hits the door. 80% of customers that receive food deliveries suspected a delivery guy or gal maybe took some of their food and half of delivery folks say they're tempted to dig in just by the smell of the meal. and then there is this. it's national cheese cake day. this is good news, right? cheese cake factory is offering any slice of its famous cheese cake for half price nationwide. the restaurant is also introducing a new flavor to honor the day. we've got it right here. it's a pine apple upside down cheese cake. it's a pine apple -- it's got cherries on top of it and there's cheese cake and pineapples and a really good sauce and i have a bunch that they brought for us today. you've got the pineapple. maria: this is the new flavor. cheryl: this is the new one, the pineapple upside down. you've got the red velvet over here, liz. there's mango key lime. there's salted caramel cheese
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cake and oreo dream. maria: steve needs a piece here. >> he can have the oreo dream. >> i thought i could resist cheese cake until you said oreo. cheryl: i'm not shy, eating cheese cake at 7:50 in the morning. i'll try the pineapple and let you know. talk amongst yourselves. maria: the oreo one, look at that. >> i like the oreo. >> i'm doing this only because of the show. maria: i know you are. >> very tasty, i would think. cheryl: that looks really good. that is actually really good. it's nice and cold. maria: the pineapple has a nice twist. happy national cheese cake day. thank you for bringing the cheese cake. cheryl: cheese cake cabbing friday, thanks, guys. maria: coming up, personal information at risk, capital one faces a major hack, with details of 100 million customers. details after this.
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maria: welcome back. capital one is reporting a data breach affecting a hundred million people. investigators say 140,000 social security numbers have been come pro michecompromised. the stock is sliding on the news, down sharply this morning. joining us now is wall street journal technology reporter, tim higgins. thanks so much for joining us. >> thank you. maria: the woman who did the hack worked for amazon aws services. >> yeah. maria: tell us -- go ahead. >> little early to understand exactly how this affected this.
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what capital one was doing was buying computing service, web computing services from amazon and what that means is essentially remote computers far away, capital one was using them from amazon to put their data into this cloud and then usually it's to safe money on it and that sort of thing. we tend to see that companies struggle with computing services that are remote on this because they're so complicated and tend to sometimes not configure them in the right way which leaves them vulnerable for attacks. the last time i looked at kaye da on this, more than 175 intrusions occurred because of these improperly configured services. it's more routine than customers realize. >> question for you. can we assume from this that the cloud is not secure? because obviously that has been the big selling point from all these vendors, that trust us, your data is completely secure, et cetera. or is this really a one-off
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because you have an insider sort of affecting this hack? >> well, so amazon might be selling computer services to capital one but generally speaking capital one would be in charge of adding whatever is on top of that and be responsible for configuring it. one of the questions remaining is exactly how did her alleged connection with amazon really affect things here. and what was capital one's kind of role in what they perhaps didn't do correct? so that's still something i want to see as we go forward. but generally speaking, when we see these kind of intrusions in the past, this is complicated. one of the benefits of cloud computing is that it's so easy and that companies may be frustrated with the couple bettecumbersomeprocess of it sel change to the cloud where they can kick it up and have the service going. that's where we've seen problems in the past. >> if amazon is helping with cloud agreements with all these companies and these companies aren't setting it up right and
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over and over again companies are getting hacked, what responsibility does amazon have to make sure these massive contracts like capital one, there is actually security here. maria: real quick, tim. >> we've seen these companies in the past try to put safeguards in there to alert customers that they need to pay attention. maria: we'll leave it there. tim, good to see you. thank you. we'll be right back. a lot more, right here. from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. and my side super soft? be firm? with the sleep number 360 smart bed you can both... adjust your comfort with your sleep number setting. so, can it help us fall asleep faster? yes, by gently warming your feet. but can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. will it help me keep up with him? yup. so, you can really promise better sleep? not promise... prove. and now, save up to $600 on select
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my car insurance, so i only pay for what i need. and this is me now! any physical changes to this man's appearance are purely coincidental. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ morning. thanks for joining us. i'm maria bartiromo, tuesday, july 30 top stories right now 8 a.m. on the button on the rooeks u.s. china trade talks resuming in shanghai president donald trump warning china should not wait for 2020 election to make a deal it will be, tougher, futures taking lower this morning on that, as well as weakness in europe, dow industrials down 99 points right now s&p down 13 nasdaq down 54 we did have strong earnings, dow component procter & gamble merck
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better-than-expected results merck raising guysance for the year stocks moving p&g up 3 1/2% merck shares up better than 3% apple after the bell that is certainly important perhaps setting the tone for tomorrow, this after mixed do a on wall street yesterday the dow up 28 the s&p down 4, the nasdaq was all about 36 global markets look like this, in europe, in-european sentiment detection barometer of optimism dropped 6/10 of a point in july prolonged weakness in manufacturing particularly germany weighing on markets ft not as big a hit even as the pound british pound weakens on worries over brexit this morning ft 100 down 9 cac quarante down 78 weakness in germany as earnings have disappointed there dax down 25 1 points better than 2% lower. >> asia overnight markets hire corroborate gains fractionally moving the world waiting on federal reserve, it is day one
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of a two day federal reserve meeting, today, kicking off, two-day meeting servers are expecting a rate cut tomorrow more on what to expect coming up, largely expecting a quarter point cut we will be announced tomorrow 2 pm eastern. >> capital one was hacked affecting more than 100 million customers stories coming up tuesday morning joining me to break it down fox news contributor columnist for the hill liz peek here daley caller editor in chief christopher bedford here chairman forbes media former republicanan presidential candidate steve forbes himself with us. >> good to be with you everyone focuses on feds i think we got to focus on china not just trade talks but what is going to happen in monday morning hong, if that spins out of control repercussions over. >> beijing can tell us don't worry we got it koifrd people are happy we hear directly from people.
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>> beijing takes rebellions, very, very seriously seen these in the past, spin absolutely out of control. internally so -- i am -- we've got to watch very closely. >> i think important because a lot of the protesters are young people, who are saying i know what my future is in jeopardy. >> beijing energy hong kong. >> ho how are we going to respond gage this already. >> the butcher of tiananmen square première ordered that attack passed away protesters facing head of communist party more powerful since founding. >> hong kong grew up with western values, so the whole idea that beijing would want extradition bill if you congest-overed you are going to face the consequences in beijing, totally undermines the values of hong kong. >> totally hong kong is incredibly important financial center for getting everything else for a moment, it -- if
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anything, jeopardizes in asia interesting to see who takes up reins i won if will come up in democratic point to your point president trump could talk about this has a not weighed in on this, probably because we are talking trade again. but interesting to see if anyone -- the democratic -- >> everyone thought after turnover shanghai would take over that business, no, hong kong has a rule of law people want to listen to hong kong don't want shanghai. >> it is interesting that you say that for the longest time i have thought of hong kong as international hub the way new york is just the way, other cities across the world are, but i don't know do you see it as international and democratic as you always have? i actually don't. >> i am shocked it has taken that long for beijing to crack down on hong kong seems difficult to keep experiment freedom, western values, and global same live in a
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communist country this is more likely just another step towards what we're going to end up facing east versus west china versus united states from hong kong in china. >> see if u.s. government booefz up the arms deal with taiwan. maria: that is important, taiwan relationship hong kong relationship selling arms to taiwan, as you know, it is not making beijing happy at all you -- >> when you also need more naval patrols south china see is international. maria: yeah zam, while all of this is happening in hong kong, the talks with china, are resuming u.s. officials in shanghai form are issue negotiating blake burman, good morning to you. reporter: treasury secretary steve mnuchin u.s. trade representative robert lighthizer in shanghai first face-to-face discussion since talks broke down, in early may, meantime back here in washington, president trump is
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adding to the growing chorus of skeptics this morning about a possible trade deal being on the horizon any time soon. the president has sent out three tweets today already, including one delineate let me sort of walk you through them step-by-step first, he expresses disappointment saying that china is not following through on a promise, large scale ag he writes china quote was supposed to start buying our about agricultural product now, no signs that they are doing so that is the problem with china. they just don't come through. then he brought up his latest theory that china might be trying to wait and see what happens in november 2020 writing quote my team is negotiating with them now but always change the deal in the end top their benefit they should probably wait out our election to see if we get one of the democrats stiffs like "sleepy joe" then threat third tweet the problem with them waiting however is that if and when i win the deal that they
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will get will be much tougher than what we are negotiating now, or no deal at all. now leading up to talks u.s. side was hoping that china would follow through, on that ag buy move back to where tucson, arizona were before they broke down in may one of china's main sticking points is removering huawei from the commerce adept enemy list, essentially a u.s. sales ban, this morning, huawei chairman held a call in which he said their year to date earnings up 23% said huawei has recovered 80% revenue relate to go ban the chairman adding quote we have seen a gradual recovery in the supply china, and we hope that we can get licenses, back to tweets for a second one thing trying to track down a backdrop to it whether or not the president has been briefed on the talks, of what happened today and that is what led to those tweets, or if it simply just an early morning riff leading up to two days of discussion president
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will reef south lawn about an hour's time, hope to get comments on china then. maria: blake thank you so much blake burman white house before we do joining me first television interview since leaving trump administration, is former insinuate secretary of the treasury for public affairs former assistant secretary under steven mnuchin is here great to see you. >> great to be back. >> congratulations on a great run at treasury you are now going to private practice we are happy you are here. >> great to be with you -- >> what do you think about china story you heard blake talking about, whether or not the president is briefed, how often is he briefed in terms of meetings when mnuchin goes to beijing. >> first and foremost the president is the force on policy there is regular communication between delegation and president naturally in this instance i am not sure that is what led to the tweet. but, more importantly, maria i think the president is convinced now more than ever as economic team we have o he
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leverage with china their economy is slowing increasing did he manned from middle class companies as we are seeing potentially moving supply chains out of china. >> a lot of them are. >> surveys that came out recently, american companies are now smartening renegotiateing themselves directly with their chinese counterparts and having some success with that as well so there is economic conditions in china that certainly make this an important time for them, to be open to a deal, and not just puric victory we can chief any point announced purchases maybe agreement to go forward what the president wants what secretary ambassador lighthizer are negotiating, is real structural reform touches on forced technology transfer forced joint ventures threat of of intellectual property as well as enforceable deal this has no meaning to the united states if chinese are not going to agree to remain about accountable to what they agreed to this is why it is going to be a bit complex but he overall i remain optimistic. >> oi know that because the
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ticket item is fact chinese have been stealing our intellectual property for decades, and the fact they have so much money that when they acquire a company they forced you to turn over all technology, i mean to me, if from outside perspective looks like we're not getting a deal these are cultural what happened when they rereneged in may what happened. >> there was tremendous amount of progress the secretary was on your show, from los angeles, ahead of that trip, we had believed that the point we were on the kind of close to the goal line there i do think for china to accept to make a lot of these domestic changes to laws to make this on a enforceable accountable agreement they met resistance am i suspicion? did not want it in law you captain steal from americans. >> much like we have trade hawks here they have trade tlauksz i think one of the interesting developments these taxi i have not gotten confirmed whether or not the case but my understanding one of the members commerce ministry considered a hawk is joining these talks that could
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be a good thing, because that mean wha means alignment throughout process maybe chinese side entire time talks to this point led by someone much more as a reformer vice premier on economy he. >> i there i there is a big story that you have an opportunity for us to get this right, the united states and china the world's two biggest economies cooperated together and worked with each other, to create a fair, balanced relationship that is going to have massive impact on global economy i would say our biggest point of leverage we have at the largest consumer market in the world we make it open with very few restrictions, to all of our trading pumps concluding chinese that gives strong leverage we should not give up. >> you led the -- coordination of the administration effort on tax reform, you headed up took reform communications team, obviously, really works, you moved the needle on economic growth 3.1% first
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quarter, 2.1% second quarter if things going so well why do we need cut in interest rates we are expecting 25 basis point cut tomorrow. >> i will say the following, and observing my former boss secretary mnuchin try to avoid opining directly on fidelity policy i think completely legitimate for the president to do so these are very important things i don't think the president having opinion fed having independency mutly exclusive if you look at rationale global economy is weaker low inflation could plead to obviously, better condition to have a rate cut, but mirror broadly maria, the american economy is the strongest it has been in nearly half a snourt job market strongest nearly half a century tax he reform regulatory release policy trade policy created environment workers getting more in paychecks the lowest one sixth of wage earnings
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getting biggest wage growth under this xh i. >> taking point on left that a top slice of the rich got it, that is going to be talked about tonight, tomorrow tonight at debates usmca, is another issue that the president needs to get done this is the priority will it oppose do you think she brings do it the floor. >> very bullish about usmca for a lot of reasons wonderful coordinationest been republican democrats amador lighthizer his team done a great job creating working groups with speaker pelosi on senate side throughout this entire process, it is good policy, and good policy is good politics. most of the democrats really are coming out behind this, the letter of 14 signed from congressional members rank-and-file democrats speaking on behalf of their districts, not some political platform this is good for farmers good for many factories good for workers for labor that is very important point. >> senator barrasso thinks it comes to the flow in the fall
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you will is that when you are. what it is tracking showers that is what i hope. >> good to see you. >> tony, coming up security alert capital one hit by massive data breach shth at aing a hundred million euros, personal income and spending numbers coming out less than 20 minutes.5 go fast. get in or lose out on 20% estimated savings on select ford models, plus earn complimentary maintenance through fordpass rewards. plus earn complimentary maintenance through at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life...
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that could reveal what your body isn't telling you. i'm gonna tell you that was the best $150 i ever spent in my life. life line screening. the power of prevention. call now to learn more. maria: welcome back, major data breach capital one cheryl casonon. cheryl: capital one says personal information belongings to go 00 million people was stolen broke into a database containing home addresses birth dedicates investigators say thousands of social security numbers bank account numbers also stolen. a suspect has been he arrested in seattle by fbi to cost capital one up to 150 million dollars, dow components outs with better-than-expected results about merck adjusted
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ep earnings per share raised full year guidance, and also looking at shares of procter & gamble this morning in, rally mode beat expectations on top of the bloomz stock up the improve result. >> the viral hit old pound road just broke a record. >> ♪ ♪ i wanna take my heart, ride till i -- take my heart, i am gonna ride till anybody toing more. >> that single the top of the hot 100 chart 17 weeks most ever, and broke the previous
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record 1996is popular not my groove somebody lovers it i think kids love it. >> -- a long -- thank you, president trump is tweeting just said this, the senate is working hard on america transportation infrastructure act we will have big impact on our highways roads cross our nation writes the president strong from republicans and democrats do i hear beautiful word "bipartisan"? get it done? i am with you, senator barrasso talking about a few minutes ago the world eyeing a rate cut from federal reserve day one of fed two-day meeting kicking off day. >> june personal income spending numbers to you a out 10 minutes we bring those see if they impact markets as soon as at the hits the tape, back in a moment. ♪ users.
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welcome back day one of two-day meeting by federal reserve jay powell widely expected to announce first interest rate cut since 2008 tomorrow 2:00 in thearound move as u.s. experiencing record low unemployment solid growth joining us right now chiefs economist thank you for joining us. >> thank you for having me. >> we are seeing very strong growth 51-year low unemployment, but there has been some weakness spots in manufacturing, and housing, do you think the fed needs to cut. >> i do think the fed acknowledged there is weakness in particular underneath the
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significative overall fed continues the notion fed in a good place using tools to keep economy in a good place loifl when fed is gone cut rates because economy has cell phone we are slowing in or near a recession, this time the fed says economy is not falling off a cliff just taking preventative measures we want to take action ahead of that weakness to stabilize this economy hopefully perpetuate expansion. >> seems responding to europe. >> germany, is worst growth six years manufacturing slowdown there seems, is that have motivating factor would you say. >> absolutely because the question is if the domestic economy on stable footing why cut rates at all the fed said we see international -- uncertainties plaguingoutlook. >> they got wrong last year. >> true. >>. maria: good point. >> france or germany if fed.
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>> not helping france or germany but domestic policy makers focused on u.s. don't necessarily care global growth is slowing but care from standpoint of risk contagion. maria: going to impact dollar sometime ladies -- u.s. has to keep patriots. >> absolutely can't pushing on a string if we see ecb as suggested they are ready to add additional stimulus we know in latest meeting but ready to provide additional stuff there -- >> raises basic question can central banks stimulate an economy when you have structural problems when you have clouds like trade uncertainty, if we put tariffs on autos i don't care what ecb does with germawhat they do here are going to be in a heap of trouble why overlook structural things. >> 25% on light trucks. >> i think you right going to be very difficult this time around for the fed to stimulate the economy
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independent of the structural issues we are facing simply because policy, is starting from such an extremely low level think about 07, 01 cut rates 5005,00 basis points this time starting from upper bound of 2 1/2%. >> not to be labor past 01, 07 sometime latest the economy after 01 tax cut of 2003 not what fed did 2007, 2008 worst recovery from sharp downturn about american history. >> why worst river we didn't have fall policy in tandem with monetary policy stimulus you had one competing with the other. >> monetary, cannot overcome fiscal. >> we need both the the timing is ill placed we need that as start of the recovery. >> great to have you thank you so much we'll be right back tune in tomorrow 2 pm eastern special coverage of fed decision on fox business. stay with us.
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bartiromo tuesday, july 30 top stories right now just before 8:30 a.m. east waiting for personal income spending, as soon as i gettics in will tell you what they are meanwhile, trade takes hitting the markets this morning, president donald trump warning that china should not should not wait for the 2020 election to make a deal it will be harder futures taking a leg lower this morning not only on that weakness in germany, weaker-than-expected earnings british pound trading down very latest income in line with expectations, up 410 -- >> right in line with expectations -- the economic data newborns just coming out they are numbers coming out watching from aa fed rate cut tomorrow, it is wild expected fed will lower interest rates by quarter of a percentage point announce tomorrow 2:00 pm eastern
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markets down into two-day meeting dow futures down 82 s&p futures down 12 nasdaq futures he lower by 50, global markets are also weaker really a weakness starts here european sentiment index barometer of optimism down in july so long weakness manufacturing particularly in germany weighing on dax today take a look ft 100 not as big a hit due to pound continuing to weaken, the british pound weakening on worries over brexit ft 100 down 10 cac quarante paris down 71 dax in germany lower almost 2%, 231 points loir inb asia overnight higher on trade hopes given fact group from u.s. mnuchin, lighthizer in shanghai, ready to do a lirn that will kick off new talks, all those stories coming up asian markets higher across the board stories coming up this is top story this half an hour democratic debates begin tonight, bernie sanders elizabeth warren 8 more take the stage this is the second
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is about set of debates obviously, socialism health care 2017 tax cut trade major talking points general motors expected attacked putting out two fact sheets ahead of debate on operations in the united states, joining us right now former ckcommittee restaurant ceo former labor secretary nominee author of capitalist comeback and puzder, you think a lot about elizabeth warren health care. >> i think socialism is way democrats should go make entire platform -- [laughter] >> good move on their part, i hope elizabeth warren we heard talk about she released something on trade essay on trade wants to negotiate trade deals by committee i am sure xi jinping anxious for her to enter the fray. >> retroactive has got china back on heels, gop growth
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slowed lost 5 million jobs two million manufacturing jobs due to tariffs. >> gdp in china 10,000 hong kong 49,000 taiwan 26,000, japan is 41, you got all neighbors sursurrounding chinese people know they are economy needs to grow. maria: elizabeth warren plan, is trying to play on the idea that business managers have stopped investing, capex down gdp report says her plan would handle trade policy differently that before he notifying a deal warren would gunfire negotiates to disclose drafts to the public inoversighting labor environmental groups, require u.s. international trade commission to analyze how to deal with each region of the country wants more analysis about it. >> astounding exactly how an academic a politicians would try to negotiating take your negotiations hobble them so they can't accomplish anything
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hold it is steve can tell you this is the worst way, you could see ever possibly negotiate a deal you never come out with anything to benefit country or businesses. >> politics. >> politics it is a joke all her proerpz are find of funny if you try to persuade from economic rather than political. >> ant anti-u.s. korns greed against private equity vulchers at a loting the kwi i don't know who she thinks is public for this does every american hate countries that employ them most work for big companies reality is the numbers are off millions of people work for big companies. >> like she has to go out in front iffy american people sigh who are you going to believe lying wallets or me. >> they don't want to talk economy because doing well every income group she keeps saying a slice at top only
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people impacted by this tax legislation steve we know that you are talking about record unemployment for hispanics, almost record unemployment for african americans. >> wage growth low-income people first time in a generation that president would say huge andy i want your thoughts on one of the things i think is vulnerable for the republicans, is health care. with the companies putting in high premium plans people feel they are spending more than ever before, drug prices going up how should gop respond to that. >> that is what happens when you put government in anything. there is only one thing in the history of the world, that increased quality and lowered prices just one thing that is competition. if you increase competition, in health care sector providing health care or insurance two different things insert competition, you will see prices come down, quality go up. >> how should republicans he propose increasing competition nationwide shopping for health
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insurance what are some ideas you think would help them out. >> anything you can do to get the government out of the market, i think is going to help, there are things that the american people want, and government does serve a function, everybody wants people, everyone to be able to be covered insurance policies for people preexisting conditions things people want the government should get involved but beyond that it should get out of the way. >> should a that shows how far barack obama's presidency shifting perceptions in this country, now they are arguing from the field of well insurance must cover every one now insurance health care republicans fighting democrats turf completely. >> want free jogs. >> the strange thing we are at the point in democratic party the conservative position is obamacare. >> [laughter] >> amazing. >> if you believe in obamacare you are conservative to democrats. >> i think republicans will end up there i think republicans in druthers could in back room scratch out name obamacare put on trump care
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make minor adjustments bring back as plan really they have not come up with anything better. >> i thought the senate plan, the bill that should have passed the senate but for john mccain i like john mccain, he was a a friend i don't want to say anything bad built he should have voted for that plan i thought the senate plan was very good would have made big difference. >> green new deal? 2020 hopefully senator kamala harris with alexandria ocasio-cortez, to put the green deal in place even though 90 trillion dollars cost, harris pout out a statement says client change is existential a threat crucial we act now achieve cleaner healthier future but not enough to simply cut he mitigations end reliance on fossil foouflz we must sure communities con tends heing with unsafe drinking water toxic air lack of economic opportunity are not left behind all in on the green deal. >> thank god. >> [laughter] >> socialism that is what they should go for the green new
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deal. alexandria ocasio-cortez is a chief of staff classroom talking to somebody said you think this is about climate change it is not. it is about changing the economy this is it is a ridiculous plan can't be implemented we can't pay for it, rich people in this country people that make over 500,000 dollars a year, they made a total last year two trillion dollars, so if you taxed one hundred percent of it you would be 10 trillion dollars short? of what you need to pay for this there isn't money to pay for it they can't do it, but i hope something that they continue to procure aggressively looking forward to the sovt anti-semiteither secedeing screed. >> it is income re, dr. >> exactly what it is, i think if they talk about it that way, that they will be very successful i would encourage them to so, so if watching. >> as business man do you --
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think it is critical, how important is usmca passing this fall. >> i think very important, that it passes this fall this is a good deal for united states, not only important from a business perspective it is important from showing american people that the government actually can function, this is this is not -- this is not a -- not anybody should object to a great plan. >> what are we supposed to think about other nations? >> we are seeing this president has done incredible things with other countries particularly immigration with guatemala mexico, guatemala and mexico doing more than democrats in congress, to address the crisis at our border, so we are really seeing progress, under this president, dealing he with or foreign nations we need really does need to be improved if as american i would be very disappointed with our system if we can't get this through. >> dhs secretary mack leanan joined me is on mcaleenan said numbers way out in terms of
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people in dependency because of mexico deal and guatemala as well. >> ask this president has been very successful, without any help from the democrats. >> would he thank you. >> is it pleasure poto be here. >> under armour cutting revenue forecast tanking in premarket think a at under armour kristina partsinevelos on the floor with details there good morning to you. >> good morning you are right yes stock is plummeting why you are getting mixed results revenue lower than expected 1.19 billion dollars but the outlook from company, that is worrying a lot of investors the company believers sales in north america will drop, originally thought just flat, sales for past water north america down 3.2% even though internationally they are growing 12% major concern competition in this market, for now under armour has to ramp-up leisure going to focus on women for the quarter they also announced inventories down expect earnings per share next fiscal year year, this between 33 to 34 cents
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switching gears completely talk about beyond meat, sales draweddrupled this quarter continue to skyrocket we love to talk about it ipoed in may shores down almost 15% stock wobbled moment company announced secondary offering putting out 3.25 million extra shares investors didn't like that boom, down the stock went, then last but not alleviate ending with apple going to hear them after the bell second largest company% market cap expecting eps up 2.10 which is lower. >> we want to hear what apple has about future given uncertainty around trade who are not more tariffs hit iphones thank you. we keep watching that coming up spotlight on detroit tonight 2020 dplookt hopefuls headed to battleground state of mi for the second round of debates stuart varney is going to weigh in on that when we woman he right back fortnite, why mom and dad fear business
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of gaming is posing a major threat to patchering participanting. >> welcome back to court report for fox business i am jaime this -- openly under way in washington, d.c.. >> he claims first tour win of the year took out fellow american dennis in straight sets, nine aces five breaks for paul in impressive victory 22-year-old moving on to face top seed in the second round. >> playing a lot of -- tournaments with them ics i never really -- never played against him or even hit with him until this year on grass -- a little different, plan playing on hard courted i am excited to get out there, definitely a challenge but i am excited. >> don't forget you can watch the citi open live on tennis channel from d.c. starts at 1
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pm eastern. hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪
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screed. president tweeting responded to our last segment on china, china lost 5 million jobs two million manufacturers jobs due to trump i tariffs trump has china on heels united states doing great, that is from andy just said that on the program the president obviously, react to go andy's comments, this
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morning. turning to second round democratically debates under way it will likely include topics stuart varney planning a late night watching it joins is now host of "varney & company" good morning to you. >> i saw that smirk maria i know you don't believe i am going to stay up till 9 or 10:00 at night i understand these things. >> but you are. >> i am gonna do it two reasons. number one itch itching to see democrats explodo implodedless elizabeth latest played profile you can't trade with if anybody have in the in paris climate accord can't trade with anybody doesn't want to ban end fossil fuels crazy stuffy bernie sanders just came out said working class being decimated i will watch for implosion i am sad
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to see demise of cnn i was founder with lou dobbs i am amazed how far down it has gone, tonight, one of the moderators in democratic debate don lemon an opinion guy, an abject trump hater, about always called the president a racist are we going to see him tonight as a moderator of a debate how far down the professional journalistic poll can these people get why i am watching the implosion of democrats frankly of cnn. >> i worked at cnn with you as five years obviously, not as long as you did, i love cnn i look at it today different than when we worked there we were in ted turner's cnn this is jeff zucker's cnn. >> we put news on the air.
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>> right. >> that was -- the news was story we did not play politics did not come you on either side never nasty just get it on the air. my how times have changed. maria: really have. >> depressing to sight i am going to watch. >> i am staying up too. >> really? >> yes. >> you work even stranger hours can i do. >> we will compare notes tomorrow see you -- >> i will text you in the middle of the debate about. >> top of the hour 9 a.m. earn after "mornings with maria" join stuart next 10 minutes fortnite fortune teens taking home millions of dollars in prize money parents are not onboard mom and dad fear a major threat to parenting wait till you hear this. next up. stay with us. -and...that's your basic three-point turn.
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fortnite fixation game taking over teen screens across the globe study from pew reveals key worse videos maintaininging fortnite generating more than 5 times as many views videos without that word, and pays to play, one 16-year-old he took home 3 million dollars in prize money winning first fortnite are world cup another 15 years old he hoping to use it to buy his mother a home p parents the craze sparking fears could make live heard for parents parenting, doctor thanks for being here. >> i find it amazing that in
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your therapy sessions families say get my young kids off this this is part of your sessions. >> it is a par he wental challenge as will this invadeed the family, systems because it is so addictive liken to do heroin, prince harry in britain said i don't know why anyone would have fortnite in their home it is giving like giving a highlied heroin it is shown it just as dangerous. >> they have done research into this companies to target towards people but here we are seeing looking at shots, this is a stadium completely packed with young people, he remember mother-in-law trying to get wife off games forever now a professional in that industry, so we were revamping a new level in video games people
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are winning money socializing meeting each other in a way not just in the basement with a bottle any more it is something else maturing into international support. >> it is an international sport made that way by e-sports industry it is not really sornlizing socializing human contact able to to talk listen speak to someone looking in eyes you get a human response. >> worse than what television was? >> you know different, i think that parents can turn this around, though in a parental challenge can be made into maybe a conversation. and parents can talk to their kids about what is happening in fortnite it is interesting, teams, aspects. >> buffalo wild wings watch party for games i walked into other day about unbelievable jerseys banners, everything.
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[laughter] >> to steve's point very did i from tv that is relaxing the thing couldn't stand when my kids doing games so tense making, come home from after school, i mean isn't that true? >> it is that is what addiction is addiction is that you release dopamine get a high from it keep going and going and going that is exactly what is happening. >> unbelievable. >> i read about the young men the 16-years old won three million dollars, and he said he does his gaming 10 to 12 hours a day. >> wow! >> now that is not healthy for anyone. >> really not. >> great to -- >> -- right you are passionate about it. >> thank you. >> thank you great from this important subject thank you so much final thoughts from all-star panel. back in a minute. ing process. oh, here we go. i know i can't play an instrument,
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but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. fifty years ago, humanity went to a place it had never been. a place without rivals, hostilities, or cultural differences. "the eagle has landed" that place wasn't 240,000 miles away, "one small step for man" for a few moments, it was right here at home, "one giant leap for mankind" over 4,000 people from ibm helped apollo 11 get us there, today, we are ready to take the next giant leap, wherever it may lead. don't miss your gto experience our most advanced safety technology on a full line of vehicles. now, at the lexus golden opportunity sales event. lease the 2019 es 350 for $379 a month, for 36 months,
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maria: welcome back. final thoughts from this all-star panel. steve forbes? >> watch hong kong.
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maria: all right. >> i will be hanging out, one lucky guy. maria: cool. liz? >> i'm really stoked for the democratic debates. i want to see liz warren and bernie sanders go at it. i really am interested to see who wins. maria: i'm watching the fed today and tomorrow. have a great day. seize the day. "varney & company" begins right now. stuart? take it away. stuart: i'm with you, liz peek. good morning, maria. good morning, everyone. this is not just another big hack. it's not just another big data breach. this one brings into question the security of the cloud. that is the backup for corporations around the world. here's the story. capital one credit card applications, the personal information on over 100 million americans, stolen. a woman has been arrested in seattle. she's accused of breaking through capital one's firewall to access data stored on amazon's cloud service. both stocks are down. this is one of the largest ever data breaches at a big bank. we'll have


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