tv Mornings With Maria Bartiromo FOX Business May 30, 2018 6:00am-9:00am EDT
yesterday since april is political uncertainty out of israel weighed on their market. the dow was down almost 400 points. 1.5%. the s&p down better than 1%. nasdaq down half a percent. the big move yesterday was the euro and we are seeing a 10 month low against the dollar. the year was up as you see there. stability as well across the world. st 100 up 12 points and down 25 and the dax up 52 points. in asia overnight, markets follow the u.s. lower. sharp declines across the board. shanghai composite down to .5% in china on new wording from the administration and tariffs on chinese goods. president trump touting his economic success. the commander-in-chief rallies support last night in nashville. especially when it comes to wages and jobs.
watch. >> wages going up. the forgotten men and women of our country are no longer forgotten. they are forgotten no more. maria: targeting china trade, the way, the white house appraising beijing yesterday with a press release and plans to move forward with paris. china is fighting back just days before commerce secretary wilbur ross heads to china with a straight tax. the restriction on china buying technology here in the u.s. devastating floods in north carolina for seeing thousands of people from their homes. vladimir putin arrested. bill broderick tweeting he was detained in spain on a russian warrant reportedly out of custody right now at the very latest developments coming on. roseanne speaks out could the communion breaks her silence and blames the drug ambien after her number one show with canceled
after a racist tweet. we will tell you what she's saying this morning. starbucks back open for business paid 175,000 employees undergo a racial bias training yesterday. we will tell you about that. an exclusive interview at 8:30 a.m. eastern. we'll sit down a starbucks ceo kevin johnson in a fox news exclusive to talk about how the racial training went. fox business numbered dagen mcdowell. pwc partner mitch roschelle and president of miss lansky and partners lee carter. good morning, everybody. let's talk about this morning. new comments in your the restrictions from the white house on china trade. this is what we've been talking about a couple weeks. national security issues, the crown jewel as they are called, trying to stop the forced transfer of technology and the best intellectual property. >> that's the most important
issue is i.t. in the fact that china has plans to grow certain industries leveraging our property, not their own. it's a big issue. dagen: it's a big issue, but $50 billion in imports, terrace on the $50 billion will be released by june the 15th at the same time you have europe looking to the u.s. to get them continue that exemption on this deal and aluminum terrace. they are threatening the united states for 3.2 billion in retaliatory tariffs on american goods. also the threat of car import tariffs on cars imported into the united states. look at the market and everybody seems to think this is somehow about the massive italy. it is about some of the math behind gates has created in terms of the mixed messaging. disorderly trade policy being put together still seems based outside looking in come in not a white house insider, the there
are infections within the administration in trying to get on the same page. maria: everybody knows that china's been stealing intellectual property for years. this is the first time the administration is trying to fight back and say we are a leader in these industries and we will continue to not allow theft. he amount people excited to hear about that part. i.t. is the most important issue about china. a lot of uncertainty about trade. they are not sure what is going to happen. they've heard trump talks so strongly about it and they want to see results. a lot of mixed messages are making people not sure. maria: problems of canada. canada is very upset. the nafta negotiations, where are they headed. surplus of canada. to remind the american people.
one of the few. we are going to go to war. i'll bring up the comments. i know we've got a guest to go to. >> a lot coming up in a statement yesterday with steps to protect technology from the discriminatory and burdened some trade practices. we will get into that. a statement from the white house pitcher this morning, ceo of starbucks in an exclusive interview. kevin johnson is how the racial training went racial training right yesterday when they closed a dozen stores. peter navarro will walk us through the new restrictions this morning. house majority leader kevin mccarthy is with us this morning along with special assistant to president trump about press secretary to vice president and, mark lotter. senior judicial analyst judge andrew napolitano as well. big three hours ahead. we take it off here at the top story this hour. markets rebound this morning with the rally underway. features indicate a gain of 100
points this morning on the heels of the selloff yesterday. the selloff was driven by fears of a widening political crisis in italy as well as the uncertainty around china. the dow tanked 400 points yesterday what they saw their biggest drop in two years. the dollar gained ground against the euro and we are looking at a bit of a reversal rate now. joining us to talk about all that, investment institute equity strategist scott land. good to see you this morning. what is top of mind for you in terms of what is most important for markets this morning? >> for this morning in the short term, it is clearly trade. any thought of a trade where the market is not going to like that. a very low probability. we will see a lot of different trade deals renegotiated and they will be very targeted hear the chants of linkage 50%, 60% tariffs in what a real trade war
really is is very slim. when you look at italy, i don't think it is any surprise that a country that has a super high debt load, low product candidate, high unemployment, lots of regulations, terrible demographics, it doesn't surprise me italy has some trouble. on markets have trouble. what amazes me is the two year yield on italian dad is lower than that in two years u.s. debt. i think that the risk premium in the bond market, the italian bond market has been wailed so and i really don't understand very well. the bottom line for italy is we're from time to time going to revisit the eurozone breakup topic. we have a lot of pressures with a lot of debt over there. it all spills into what it will
do to consumer confidence in europe. but it will do to business confidence. the u.s. does a lot of business there and if economic growth slows or stumbles, that would be a problem and i think that is what the u.s. markets are worried about. >> a scott, mitch roschelle. no question these markets are interconnect did. i was looking up just now, the debt to gdp is up 132%. any other countries do not take the eurozone for now, that we should keep an eye on that have very high debt levels that could have political turmoil that will spill into our markets in the future? >> i think related demographics in a lot of these countries are very good and certainly peripheral countries to greece will still continue to be a problem. portugal will be a problem. spain is the biggest problem outside of italy as well. you look at spain and italy and those are two pretty large
economies that have a lot of unemployment and bad debt levels. those are the countries that every few years probably as we look forward. the ecb has some tools here knows what they are doing. i think it's really driving the bus on this thing. from time to time, we will go from back burner back on the front burner. right now it's on the front burner. it wouldn't surprise me over the next five years or so to see some periphery countries may be dropped out a couple of those. this is not easy to keep this thing together. when you have the bad demographics, very modest economic growth. those are the types of things were countries want their own monetary policy back. they really don't have that right now. they don't have their own currencies they can devalue when the economy stumbles. it's a big problem. dagen: i have a question about
the united to its economy. yesterday with the treasury yield comes the largest daily decline on treasury. at least on that day, investors look worried about the state of the u.s. economy and particularly maybe from the impact of all of the trade issues that we have, whether with europe over the steel and aluminum care, europe looking for an exemption therefrom the threat of a 25% tariff in the nafta negotiations and negotiations with china. a hard turn by the trump administration yesterday announcing $50 billion. a finalist of tariffs on $50 billion imports will be released by june 15, trying to basically get some leverages wilbur ross heads to china. take a hard line on the u.s. technology. but all of this influx have an impact on the u.s. economy?
whether its farmers who can't sell soybeans to china. whether it is job growth in steel communities in this country. >> you ran down the laundry list pretty well there. a real trade war result in less trade volume and is certainly an issue. global fears, trade war fears, people around the u.s. treasuries and hide there. the bond market fully believes, in my opinion that the fed has hikes next year in part of it other than just a flight to safety is studied that many hikes in a good, not great gdp type of an environment is a head written for the economy and it makes sense to me that the bond market would rally when it fears that all of these things are going to slow inflation, slow the economy. that was a gigantic drop in yield yesterday over the course of a couple days.
you know, it is a combination of things that i think a lot of this just the bond market does not expect very much inflation and all and it certainly doesn't expect a surge in economic growth. maria: are you expecting a slowdown because there is a feeling once we get into 2019 and 2020, things slowed down quite a bit for a number of reasons. including demographics. to stop where you are. >> or number for gdp this year is to .9%. for this year that is good. not great. i suspect he will be slower next year. unless you can get this cap ex and better consumer spending. you have to remember we are late in the cycle. i just don't think you're going to see a big jump in economic dignity. the stock market to .5%, 3% low inflation. stocks can do fine. maria: how worried are you about
nafta? the president slammed it is bad for u.s. listen to what the president said last night. >> we are renegotiating nafta. remember what i said. we are having -- we are having, you remember i said to tennessee, everyone. we have such a bad deal with mexico. we have such a bad deal with canada. he lives with mexico over $100 billion a year with this crazy nafta deal. maria: but this relationship is important for all involved. the u.s., canada, mexico. what are the implications it does not get on over to the long-term. >> the stock market will not like it. mexico and canada are two trading partners of the u.s. once again, if there is less trade, that is not good for business. not good for the stock market.
what we are going to see if some give-and-take here and it is going to be pretty targeted and it's not going to be a deal that absolutely falls apart. there may be a lot of comments out, but i think in reality if we get something done here it's going to be targeted in both countries, all three countries will be happy. maria: sounds like you'll put money to work in stock right here. >> anywhere down toward dow, i think the market will be 2860. the midpoint of our target range. you know coming into step in here and the opportunities. train to thank you so much for joining us. we'll be right back. start winning today.
you'll only pay $4.95. a few problems actually. we've got aging roadways, aging power grids, ...aging everything. we also have the age-old problem of bias in the workplace. really... never heard of it. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. because solving big problems is what business does best. so let's take on the wage gap, the opportunity gap, the achievement gap. whatever the problem, business can help. and i know who can help them do it. i'm all-business when i, travel... even when i travel... for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations-
-or paying any upcharges. what can i say? control suits me. go national. go like a pro. >> welcome back. thousands of north carolina residents evacuated after landslide. future of the sundry details. good morning. >> maria, good morning. a mandatory evacuation has been issued for all resident and businesses that are downstream of the lake. officials reporting water is starting to spill over the walls. in maryland, the body of a missing national guardsman has been found. edison herman was killed after being swept away while trying to rescue a woman. an american flag was draped over
his body as search and rescue crews pulled him from the river. u.s.-born businessman in russia and putin government critic william browder has been released staying after russian arrest warrant has expired. here is what he treated. good news. spanish national police release me after general secretary advised them not to honor this new russian interpol notice. this is the sixth time the russia has abused interpol in my case. this comes hours after he treated urgent just was arrested by spanish police on a russian winter pole going to the police nation right now. nine years in prison on fraud and tax evasion charges. he used to be a large investor in russia. he's now become a critic of russia and he's denied all of these accusations against him. prominent russian journalist has
been shut in kiev, ukraine. the 41-year-old was a vocal critic fund rating next to his wife by the entrance to his own. he was shot several times in the back after he read about a plane in 2016. he received death threats and had to leave his own country of russia. he was living in kiev. starbucks is open for business again today. a thousands doors across the country closing for racial bias trading. an estimated $12 million in revenue called police who had not purchased anything and didn't leave this door by an employee. taking a look at shares of starbucks up a fraction for the year. those are your headlines. >> thank you so much for the starbucks training day. more from kevin johns.
>> i wrote a piece on fox business.com about it. i thought it was a really smart move by starbucks. i know there's a lot of controversy and people are criticizing the move. i think they had to do something and he acted decisively, quickly not a symbolic gesture to stand behind it. i think it's an important step in the right direction. i've been curious to talk to you about it. >> at admission diminishment believes there's real bias among their employees. >> i think systemic problem. you take one incident in one store with one manager and then you make it a companywide problem. >> they are making it a systemic issue in society. they can start by changing things there. they've always taken a strong position on race so it makes sense for them. >> with are my exclusive
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maria: hours after abc canceled roseanne over the racist greed, roseanne barr is back on twitter. gerri willis with all the details. >> she's been on twitter all night long as far as i can tell. hours after abc canceled her shout over your racist week, back on twitter apologizing. guys come i did something unforgivable, so do not defend me. it was 2:00 in the morning and i was ambient reading. it was egregious, indefensible. i made a mistake i wish i hadn't. don't defend it please.
thank you. more overnight. i'm sorry for my treat and i will defend myself as well as i talk to my followers. go away if you don't like it. i will handle my sadness the way i want to. i'm tired of being attacked and belittled more than other comedians who have said worse. the comedians famed for her job into valerie jarrett. here is her response yesterday on msnbc. >> we have to turn it into a teaching moment. i'm fine. i'm worried about the people out there who don't have a circle of friends and followers on their defense or the person walking down the street minding their own business and see somebody cling to their purse or want to cross the street. >> abc cameras and even though it is the highest rated on broadcast television during the revival of run. the sick, earned 39.6 million national revenue senses debut.
according to. estimating the shows total advertising a 45 million this season project integrator broadens 60 million. companies that advertise on roseanne. this is a who's who of fortune 500 company. microsoft, advertisers spent an average of $167,000 for the second, which made the most expensive show. disney shares fell 2% yesterday. i've got to tell you, at the upfront they feared, and they lauded her with a 90 minute love letter. this is a massive turnaround. maria: and it was quick. it didn't take long for abc to say we are canceling the show. we all know that there is no room for racism at all. i have to question the standards
anyway because they just gave keith olbermann and expanded role on espn. have you seen his tweets lately? the f. bombs against trump are incredible. he caused homero said. i'm just pointing it out. >> hypocrisy is overwhelming. at the same time, abc did have to take swift action. i'm not so sure. dagen: i can tell you why they did. they were going to end up back on their heels because they had to no one, the people who work on the show, whether some of her castmate, the writers were going to come out and say wait a minute, out of fear. plus they probably did these advertisers with turn tail as well in the tissue immediately
because it is repugnant, racist comments. so they just took action. rather than sitting back and waiting for them to hit like a wave, abc said that i canceled the show because we note the font is going to be. >> you've got a think the timing was a big part of this. it's like with the fortune 500 companies for this. maria: zero tolerance for it. gerri willis with the latest there. president trump hammers democrats on immigration again. why he's blaming nancy pelosi and chuck schumer for thursday ms-13. a new promises to alert school officials about dangerous behavior confidentially and within seconds. back in a minute with that. ♪ [music playing] (vo) from day one, we always came through for our customers. it's how we earned your trust.
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biggest loss in april. we are watching the euro rebound from 10-month low yesterday, as you can see the euro 116. checking global equities this morning. ftse is up a quarter a percent. cac quarante down a quarter of a percent. and in asia overnight, the markets followed the u.s. lower, sharp declines, worst performer china. new restrictions for china investing in the u.s. this morning. president trump rallied the large crowd hitting hard especially over rise of ms-13. >> this vicious gangs have transformed peaceful communities so well, i know them all into
blood-stained-killing fields. this is why we call the blood-thirsty ms-13 members, exactly the name that i used last week, what was the name? animals. maria: president trump reiterating call for méxico to pay for the wall. méxico's president tweeted right back. on the summit of north korea, mike pompeo will be in meeting with north korean official as they continue to set up plans for the june 12th summit in singapore. another auto pilot crash for tesla, crashing into a parked police car in california. meanwhile the bayer-monsanto deal. look at the most valuable brands, apple and amazon running ahead of the pack, most valuable in the world. this top story this half an
hour, illegal immigration crack-down. president trump ramps up rhetoric at illegal immigration at rally last night at nashville taking aim at house minority nancy pelosi and condemning brutal ms-13. vow today have méxico foot the bill for border wall as well. >> she loves ms-13, can you imagine? remember, i said they are animals and she said how dare you say that, chuck and nancy, they don't want the wall, they want open borders. they're more interested in taking care of criminals than they are in taking care of you. in the end, méxico is paying for the wall. they make all of this money and they do absolutely nothing to stop people from going through méxico from honduras and all these other countries that caravan, all of this stuff, they do nothing to help us, nothing.
they are going to pay for the wall and they are going to enjoy it. maria: mexican president enrique peña nieto swiped back at president trump on twitter making stance on funding the border clear, writing this, president donald trump, no, méxico will never pay for a wall, not now, not ever, sincerely méxico. all of us. joining us right now to weigh in former special assistant to president trump and former press secretary to vice president pence mike latter, thank you so much for joining us. interesting tweet. he's making it clear to this president, where méxico stands on this, what's your take? >> one way or the other, méxico is going the pay for the wall, they may not actually cut a check but the president and our country and given size of economy, we hold a lot of leverage points and we have seen with so many other things the president will use all of the levers to make sure that méxico is financially supporting that wall.
maria: he's going to put something in the nafta deal, how one way or another, how are they going to pay for cincinnati. >> there are a lot of opportunities, something as it could relates to nafta, some other options on the table, but make no mistake that they will fund that wall like the president said and we will see it play out as the negotiations continue. lee: the question is are they going to enjoy it like he said? >> they may not enjoy it but definitely do it. maria: hilarious. lee: i tested his speech and i wanted to see how voters reacting, we saw independents are softening towards the president, he's not sure he will get deals done, some of rhetoric is wearing a little thin with them. you still believe that things are going to get done and what does it mean for midterms in. >> i think the american people are seeing things getting done and i think sometimes i comet pair it to like road construction n the beginning we have to shut lanes down, maybe redirect traffic that causes a little bit of angst but when you
get through the initial push and the other side and once it's done, smooth-sailing, people like it. i'm not completely surprised by it. as we see more success on the economy and because of the president's leadership on the world stage, i think people are going to get comfortable with that and they are going the like the results. dagen: marc, in terms the democrats will run on we have seen from chuck shuim -- and nancy pelosi, rising gasoline prices, premium increases for people's health insurance, we will find about those right before the election in 2016 in october right before the midterms, president trump has signaled that they are going -- the white house will announce some plan to fix obamacare, but can that come despite the repeal of the individual mandate, can that really come in time to ease the financial pain of people who are paying more and more and more for health insurance? >> it's something we have to do.
it's something that we have been talking about doing for years, we have to get republicans on board particularly in the senate with a plan but this is also, i think, one of the broader points that we can see from a growing economy and more jobs as more people are getting their health insurance, hopefully through their employers because we've got growing jobs, lower unemployment, more people getting access to that through their employers, the impact on obamacare, fewer people are going to be getting it on the individual marketplace, so i think that is a good thing, but ultimately we have to fix obamacare, we need republicans in the senate to do it and i think the push this fall will be perfectly time as the new premium announcements come out. lee: so i have a question about trump's speech last night. he went and talked about the democratic opponent, i never heard of this guy, who is he, he's an absolutely total tool of chuck schumer, this guy is a pretty popular guy in tennessee
and conservative democrat, probably a lot of issues that they cross over, somewhat like you pennsylvania like connor lamb. do you think he's being too dismissive going to midterms? >> i don't think so. this is an election season, you are going to get those kinds of comments, the fact of the matter is as we have seen, you can go down and look at the new senate democrat in alabama who is a immediately lining up with chuck schumer and the democrats and voting against the things that the president and the people of alabama want. so i think it's very important for people in tennessee to realize if they send president to the united states senate, he will not be ally of president but chuck schumer, vote against confirmation and judges and appointees, he will be lock-stepped against tax reform and opponent like the democrats were and they need to realize that despite what he said and record when they get to
washington they do something else. maria: you think it will be more important in midterms to side with president trump than appearing that you're against the president, you think that's going to help the republicans in november? >> in places like tennessee, i do. obviously every district is different, every state is different. tennessee was a very strong supporting state of the president back in 2016, we have seen that continue. i was there a couple of times with the vice president when i served as his secretary. they are excited in tennessee and we are seeing this play out across much of midwest and middle part of country where you have people like joe donnelly and claire mechanical of missouri, the people they represent support these -- this president. maria: in terms of donnely and
heikamp. but secretary of state mike pompeo sat with me with top negotiator with kim-jong as north koreans work to settle agenda for the june 12th summit between the two countries in singapore, both countries prioritizing how quickly north korea should denuclearize, what do you anticipate from the talks today, what would be success? >> i think ultimately we need to get a deal with north korea that leads to the denuclearization of that peninsula. the president has been very clear on that. the maximum pressure and sanctions continue on north korea until we reach that goal and it's really up to north korea to decide how quickly they want to rejoin the world community, have the sanctions lifted but there's not going to be any half measures here and the president is going into this with eyes wide open, he knows north korea's history of saying
one thing, accepting bribes to come to table and make some deal on paper but they do something else behind the scenes. this is a president who will not be played in this respect. these are going to be very important conversations but ultimately it will come down to the president and the chairman sitting down and one way or the other north korea is going to give up nuclear weapons, we would like to have them do that around the negotiating table and rejoin the world. maria: real quick on china, yesterday we have got the press release from the white house statement on the steps to protect domestic technology from china's trade practices is headline on the white house press secretary report, how are they going to enforce that? i mean, we know that china has been forcing technology transfer, we know that they have been stealing intellectual property. i give the white house credit for coming out with statement because that's more important issue and not buying more agriculture products, how are they going to enforce that, you
think? >> through investment restrictions and some of the other things that are going on but this is as you well know and i know it's been discussed on the show so many times, this is one to have biggest challenges we face as we head into negotiations with china, they have their 2025 plan that they're trying to take over and gain ownership through our technology, our pa tentsz and our invasion and they are trying to corner innovative long-term. maria: some say that the u.s. is behind the curb on this, china has transferred technology and they are poised to become the leader in ai, block-chain technology, we will see about that. marc, good to have you on the program. coming up green light for justice department for buyers acquisition of monsanto, how the deal affects american workers. amazon, by the way, is not the most valuable brand in the
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maria: welcome back, while a tesla and auto pilot mode once again crashes, cheryl casone with the details on the latest incident, cheryl, that keeps on happening. cheryl: maria, it really is, this time a tesla model s veered into a parked police cruiser badly damaging both vehicles in laguna beach california. driver suffered minor injuries in response to latest accident. tesla issued a statement repeating its warnings to drivers that even in auto pilots they must keep hands on wheel and control vehicle all times. 73% of drivers are afraid to get into a fully autonomous vehicle. tesla is trading lower the
premarket, down almost a quarter percent. germany's bayer has agreed to sell approval of purchase of monsanto, the justice department say it is asset sale is the largest of its kind ever ordered. the business is being sold off including buyers herbicide and this will create power house in u.s. agriculture industry. take a look at bayer, monsanto is up 9% of the year. there's the google top the apple as the world's most valuable brand. global consultant firm says google has brand value of $302 billion and apple 301 billion and amazon coming in third with 208 billion followed by microsoft, shares of google parent alphabet up this year. so basically alphabet who started is more valuable than
somebody that makes phones, interesting. maria: that is. that's a surprise. what do you think, lee, google the number one brand in the world? >> it says to me -- i think the further you are up on the list, critical will be of you. i'm surprised. apple phones aren't what they once were, people aren't talking about apple as iconic as they used to be, and innovative as they used to be. >> also it's a verb, right? when you become a verb that escalates brand value. lee: i think that's fair. dagen: google has more privacy concerns, you see if it's the most valuable brand in a year. maria: they know everything you
search for. they save it for two years. dagen: basically they make money off the backs on what you're looking for in the internet. maria: they say they itemize it for two years. dagen: two years. maria: thank you. [laughter] maria: when we come back, stopping bullies in their tracks now in the palm of your hand, new app that promises that students, teachers and parents can confidently alert school officials of dangerous behavior in under a minute. we will show it to you next. back in a minute. and this is the chevy equinox, perfect for when you two have your first kid. give me some time... okay. this is the traverse... for when you have your five kids, two dogs and one cat. whoa! five? uhhh... it's the chevy memorial day sales event! get an additional $750 on these select models. that's on top of most other offers!
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>> it doesn't stop. maria: that was the scene from the netflix show 13 reasons why, it confronts bullying in the show's newest season. new app looking to change how bullying is addressed while presenting problems at school. joining us right now bridget ceo, you created the app, tell us about it. >> application to both prevent and address bullying at any other time and any at-risk behavior. any student, parent, teacher can immediately no matter regardless of language, culture communicate a problem accurately and the staff of the school could deal with all of the behavioral problems can immediately start to refond with the right conversations, right teachable moments, smart system with right conversations with the right problem in realtime. >> tool to identify the problem, is there any way to assure that the school does something about it because that's something that
always worries me, somebody reports bullying and the institution itself sort of fail it is student by doing nothing? >> we designed this with new york city students over period of 2 years that wug the biggest thing, i don't trust anybody doing anything. it might not be bullying, maybe fighting, teasing, there's a log of everything, everything that works on it and can't be ignored. maria: how did you work on the idea? >> i was attacked online. he got out of jail, deported, put up a website and destroyed my reputation for a period of 3 and a half years. dagen: what do schools do if there's an incident of bullying, what kind of punishments do schools hand out, from personal experience, i found out that the schools basically don't do anything, like your child gets threatened, their life gets threatened, threatened with rape, you know what, it's a child with behavioral issues, we
are not doing anything? >> there's two things, the punitive aspect which by regulation, whatever the local regulations of the city or state levels are they have to follow through, whether there's internal suspension, there's a restorative process that counselors and psychologists should be going through. because anybody who does anything wrong, they become disconnected. you need to reconnect them to the community. restored processes are the key to solving these problems and building strong culture at the school. maria: how did you put this person in jail? >> i was the only one that figured out he was running a ponzi scheme, they were able to convict. maria: okay. when you said, were you law enforcement for this, the way you referred it. let me ask you this, you worked in hollywood to create another app more sexual misconduct? >> yeah, i was been working with one of the silence breakers and a number of other groups in west
coast to create, take the same technology to apply towards inappropriate sexual behavior and sexual misconduct. we have taken everything in terms of icons, very easy to communicate the problems and what that does for everyone is it ranges the risk he ward around the behavior. if anyone can communicate in realtime what they see going on that's appropriate, then the harvey weinsteins of the world might not have taken the risk they took and taken the advantage that they took. maria: shine a light on it. >> exactly. maria: jeff, thank you so much for being with us. avoid a massive cyber-attack, find out what they're asking everybody to do right next next hour in mornings with maria. stay with us
>> maria: welcome back. good wednesday morning. thanks so much for joining us this morning. i'm maria bartiromo. i'm is wednesday, may 30th. your top stories right now, 7:0. investors breathing a sigh of relief this morning. we've got a rally under way. futures indicate an opening up 140 points on the dow this morning. that is the high of the morning right here. the s&p is up a half a percent, that's 12 points higher. the nasdaq is up a quarter of a percent, 20 points higher t dow industrials set to open up 130 points after yesterday's sharp selloff. the dow and s&p 500 yesterday saw their worst decline since april as political uncertainty out of italy weighed on investors. the market was down almost 400 points on the dow. the big mover yesterday, the
euro. this morning we're seeing the euro rebound from a 10 month low against the dollar. it's at $1.16 right now on the euro after the selloff yesterday. checking global markets, stocks in europe this morning are mixed. fq100 up 14 points, cac down 17 and dax index up 58, half a percent higher in germany. in asia, those markets followed the u.s. lower, seeing sharp declines across the board. shanghai composite 2.5%. taking action on trade. the white house surprising beijing with plans to move forward with tariffs and china is fighting back, just base before wilbur ross heads there for the trade talks. president trump talking tough last night at a campaign rally in nashville. >> we truly are making america great again. but most importantly, our country is respected again all over the world. we're not making apologies.
we're not making excuses. we're respected again as a country. >> maria: we're taking a closer look at the administration's latest policy announcements coming up this morning. roseanne is speaking out this morning. the comedian breaking her silence, blaming the drug ambien after her number one show was canceled yesterday over her racist tweet. we'll tell you what roseanne is saying. starbucks back open for business today, 175,000 employees undergoing racial bias training yesterday as the company closed stores to do that training. coming up at 8:30 a.m. i'm sitting down with starbucks' ceo kevin johnson in a fox business exclusive. he's going to tell us how it went yesterday on the training. flying high, we're taking a look at the top airlines in america. what you need to know before booking your next flight. moving beyond the fight for 15, one chick-fil-a franchise owner setting minimum wage at his restaurants at $17 an hour.
all those stories coming up this morning. joining me to talk about it, dagen mcdowell, mitch rochell and lee carter. great show so far, guys. thanks for being here. >> great to be here. >> a lot of news. >> dagen: lee was up late. >> it was a mixed reaction by the voters. we are so volatile going into these midterms. one week see see independents are with republicans, one week we see them with democrats. it will be a bumpy ride. >> dagen: the one thing that made me go up is when we referred to america is not going to be a stupid country gone. i thought since when is maybe our trade deficit, our economic i.q. i don't think that is it. it shows that we're a prosperous nation. he doesn't -- he's not reading off a tel telltellteleprompter.
>> there's no filter with our president. most people agreed with you. they said don't call us -- we were never a stupid country. we might have had stupid policies. we might have done stupid things but we are never and we are not a stupid country. that was over the line. there were a couple moments that he had last night that people just -- he wasn't tangible enough. he wasn't specific enough. he did a lot of pla platitudes. he talked about his core principles that he always highlights. a lot of his complaints, a lot of his saying fake news, a lot of those things did not resonate. >> maria: one of the things they did yesterday was the statement about china and trying efforts to stop china from stealing intellectual property. i'll speak with the ceo of starbucks today, kevin johnson is here. california congressman kevin
mccarthy is with us this morning, along with judge andrew napolitano. the host of "varney and co.," stuart vai varney waying weighis well. the trump administration doubled down ahead of trade talks with china. yesterday the white house announced plans to move forward on imposing a 25% tariff on $50 billion of chinese imports, in response to national security concerns. a final list of imports will be announced by june 15th. this comes days before wilbur ross is expected to arrive in china for continued discussions. president trump ainterrogatoriesed -- addressed america's economy at a rally in nashville last night. >> loyal citizens like you, the people of tennessee, helped build this country and together we are taking back our country. we're returning the power back to our great american patriots. >> maria: joining me right now
is the office of trade and manufacturing policy director, peter navarro. thank you for joining us. >> good morning. >> maria: a week ago we heard secretary m mnuchin say the trae war was on hold. is it not on hold? >> it was an unfortunate sound bite. there's two things to say. this is a trade dispute that we're having with china and number two, as president trump said, we lost the trade war long ago. president obama, bush, clinton, going on back in history, we lost that trade war when china joined the world trade oranization, when we got into nafta. prom president trump hapresidene and vision to turn it around. >> maria: i got the statement from the white house, trying to protect national security, statements on steps to protect intellectual technology from china's discrim discriminatory . china has been stealing
intellectual property for year. go through what you're trying to do here. >> the investigation by ambassador ligh lighthizer fount that. it's not just theft and the forced transfer of technology, it's also the evasion of export controls which are designed to protect militarily sensitive technology and it's also the acquisition by state owned enterprises of china coming in here and buying the crown jewels of places like silicon valley. this action by the president is a strong action, in defense of the crown jewels of american technology. it does two things. the tariffs are designed to defend our american technology companies from the kind of economic issues we've seen china engage in with their unfair trade practices, going after industries like solar. we used to have 32 solar companies in america. we're down to two because the chinese by state edict go in and
attack those industries and take them over. we don't want that to happen to artificial intelligence oro bought i. or block -- or robotics or block chain technology. equally or more important, there's a regime of investment restrictions and export controls which are designed to prevent chinese state money coming in and buying up american technology companies. so this was a very strong step by the president that derived from a detailed report by the united states trade representatives. corporate america has long-time complained rightly about chinese predation with respect to i.p. and technology. going forward, that's going to be a key part of our china policy. >> maria: are you expecting a retaliatory move from china? are you expecting china to put 25% tariffs on u.s. goods? >> well, we'll certainly -- certainly we're ready for
anything the chinese state wants to do in response to our legitimate defense of our intellectual property and technology. in terms of this issue, this issue has united america. we have senator schumer and senator rubio saying exactly the same thing, we need to defend those crown jewels. we have papers on the left, right and center saying the same thing. americans every day when they wake up, they know china is doing to us. that's part of the reason why there's such strong support for president donald j. trump. we're here, we're resolute. we will do this. the president said this is a key issue and he laid the marker down and we'll see what happens. >> maria: i want to ask about how you defend this. first, has china admitted they steal our intellectual propert? how do you stop someone from doing something if they don't admit they're doing it? have they admitted it.
>> when i traveled to beijing with the team and we were presented with a set of counter-demands to our legitimate agre grievances, thes no admission of any of this. they claimed they were the biggest victims for example of cyber theft. they've got literally tens of thousands of civilian and military personnel that are engaged in a systematic attacks, not just on american companies, but on companies and governments around the world. they don't admit to the forced technology transfer. this is the practice, maria, where if you're an american company, you go there, if you want to sell into the chinese market you've got to give away your stuff. they don't even add a mitt to that. so -- admit to that. so it's difficult. that's the chinese state. it's a propaganda state. here in america, we will defend our technology and crown jewels. we'll do it in a measured way. i have to commend ambassador
robert lighthizer, every american should read that report. it talks about the harmful acts, practices and policies that the chinese are engaged in to basically take our prosperity from us and our national security. >> maria: i have the report in front of me. it was a great report. i a agree, peter. let me ask you this. it's not just the obvious ways that they're taking our technology by investing in a company in silicon valley and saying you're going to get a 49% joint venture but first you have to tell us all about your technology. that's the obvious part. but there are also chinese citizens working at important companies in silicon valley. there are already partnerships with american companies that are operating in china like google and all these others. so really how are you going to enforce this? is this really enforceable? is there any way to really at the end of the day stop china from doing what it's doing? maybe you could slow them down, but it feels like there are lot
of other ways they're doing this academically, having chinese citizens come and be in our institutions and then work here, get the technology and then bring it back to china. can you really enforce this and change this? >> well, what's remarkable to me, maria, that is the previous presidents we've had in recent years, obama, bush, clinton, they didn't even recognize this was a problem. if anyone can stop this from happening, it's going to be donald j. trump because he's a president that sees the chess board very cheesily. i would recommend some of the testimony that's been given on capitol hill on this issue of chinese nationals going in for example to our national labs and taking back technology for something like the hyper sonic glide vehicle. that's a vehicle that flies at mach 5 and is able to elude defense systems and it could come into play in places like the south china sea if we have
trouble there. so these are issues. but i can assure you, maria, that we're going about this in a measured way. we're interested only in economic prosperity and national security and the president is taking strong steps like he did yesterday, and it takes courage to do this, maria because there's a lot of criticism of taking these kinds of steps from the usual suspects. but this is important for america and the president is resolute. >> maria: there's an article that i was looking at yesterday from a chinese newspaper, president xi calls for developing china into world science and technology leader. just as you said. they have their plans for 2025 and they're moving forward. let me ask you this. what about the reports that they were going to buy $200 billion of all the agricultural products. is that still on or was there no deal to begin with? >> i think the problem we've had with the narrative is the clarity of the problem, which is to say that we have two problems with china that we presented grievances for.
one is this theft acquisition of our technology. that's a huge issue we're dealing with. but there's also the matter of the half a trillion dollars that we export, that china exports to us every year in products and this gross trade imbalance. people can debate whether trade deficits are good or bad. i will tell you this, any trade deficit that comes about because of unfair trade practices is a bad one that needs to be dealt with. so we have to deal with that as well. >> maria: are they going to buy the $200 billion or not? >> well, interesting. even if they promised to buy whatever it is they want to buy, we have issues. they promised to buy more beef, where's the beef? where's the beef? >> maria: pea techs it's good to have -- peter, it's good to have you on the show this morning. peter navarro joining us there. we'll be right back. your trust. until... we lost it.
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♪ to show you everyone, it's the time of the season for loving. >> maria: welcome back. take a look at futures this morning, dow industrials set to open up 144 pounds, two-thirds of 1%. the s&p is up a half a percent and the nasdaq set to open up 23 points after a tough day yesterday. the dow and s&p 500 with their worst declines yesterday since april as political uncertainty out of italy weighed on investors.
russian government critic bill broader, a guest on this program, he's been released in spain this morning after a russian arrest warrant expired. cheryl casone has the details. >> cheryl: he's been through something else. william broader tweeted out with his picture good news, spanish national police just released me after interpol general secretary advised them not to honor the new russian red notice. this is the sixth time that russia has abused interpol in my case. this happened hours after he tweeted urgent, just was arrested by spanish police in madrid, going to the police station right now. he also then posted a faux of the he took from the back of the -- photo from the back of the police car. he tweeted a picture of the russian arrest warrant as well. a moscow court sentenced him to nine years in prison on fraud and tax evasion charges last year. he has denied the accusations
against him. the fbi is telling americans to reset their routers after discovering a malicious software attack on u.s. citizens. officials now saying that the best way to thwart this attack is simply turn off your router and turn it back on. it is linked to the russian government. the fbi is saying that this attack could stop a router from working, collect data, possibly block network traffic. a research firm said last week the malware affected half a million routers in more than 50 countries, targeting routers from net gear, tp link and possibly others. well, thousands of train conductors and engineers are on strike this morning. they walked off the job on canadian pacific railway overnight. that stranded tons of commodities that are shipped across north america. this is following months of negotiations. the dead lock is over benefit
increases and more predictable work schedules. canadian pacific is a leading shipper of grain, oil, trackingg stand. starbucksstarbucks is open for s again today. more than 8,000 stores across the country closed yesterday for racial bias training. the shutdown cost the chain an estimated $12 million in revenue. the training coming after a store manager in philadelphia called police on two black men who hadn't purchased anything and didn't leave the store when asked by an employee. shares of starbucks are down a fraction for the year, maria. those are your headlines. >> maria: thank you so much. we'll be speaking with the ceo of starbucks coming up. first, roseanne is breaking her silence this morning after her name sake show was canceled. we'll tell you what she tweeted about the drug ambien, coming up next. chick-fil-a in california raised wages for its employees. the plan for the fast food store to pay workers $17 an hour.
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>> maria: welcome back. business takes the lead, a recent study by the public relations firm edelman shows that ceo credibility is on the rise with people trusting businesses more than government. joining us right now is the president and ceo of edelman, richard edelman. thank you for joining us this morning. tell us about this and why do you think this is that people are beginning to trust business again even more than government. >> the most interesting changese is that they trust their employer as the central institution in their life and they want to hear from ceos
about issues of the day and they're not really looking to government as much as they are to the private sector to make change. >> i think it's interesting that they're looking at the ceos, because for a long time ceos were demonized. we like to hear more from everyman employees. can you tell me more about that? ceos hav>> ceos have changed. they're more willing to talk with employees and go into public debates on lgbt or other. they are leading on sustainability or retraining, things that government historically did. >> is this a function of the demographics of the workplace? millennials in some companies are as much as 80% of the workforce l. work. has -- workforce. has that shifted the way employees view leaders in organizations? >> absolutely. we're a tight employment market. you want the best and brightest to work for you. the younger employee is looking to the ceo as in a way a father figure, mother figure, and
leading the discussion as opposed to just i take orders from you. i have a choice to work here or not and we want to get the best people. >> maria: that's true. millennials, they want purpose. they don't necessarily look to get a job to make money. they want to make sure what they're doing as purpose. >> they gravitate towards purpose-led organizations. >> a perfect example is un unilever, they're the third most popular place to work. they said they're going to keep consumption of resources flat while doubling their revenue. it's a big statement accoun. >> dagen: at what point does a ceo or a corporate culture that is trying to be a warrior for social justice, at what point does that hurt the organization and makes people not want to work there because they feel like they're not being included? again, if you're a conservative in silicon valley, you better keep your mouth shut, quite frankly. >> here's the thing.
companies should stay somewhat in their swim lane. in other words, if it's a company like walmart and you actually have a global supply chain, you have every right to comment on working conditions in china or what kinds of products that you're going to offer in your store and so that's their swim lane. >> dagen: walmart in arkansas did what apple did with the religious freedom law. walmart stepped up and told the government in arkansas you better not pass this law because we feel like it discriminates against the lgbt community. did that hurt in. >> they were also very smart about raising minimum wage, they're making a specific kind of commitment to the kind of workplace they want. >> maria: rea act to what we're seeing today -- react to what we're seeing today. we have two companies in the news that are front and center. there's starbucks, which is one
of your clients, we're going to talk about that and the racial training yesterday and then there's roseanne and disney cancelling the show. your reaction? >> on starbucks, it was an important moment for the company to give a place for a discussion about how to treat customers and to close the stores, it was very evidence socevocative of 10 yean they closed stores to learn how to make coffee better. what happened yesterday was a time to talk about being in third place and what does that mean, what can the company do to be a welcoming place and good for all of its customers. hopefully it stimulates a further discussion at the company. as for abc, inbe i think what bn sherwood did was okay. what roseanne said was intolerable.
what she said was way over the edge. >> maria: there have been other things that have been over the edge as well. i mentioned keith ow oberman and some of his tweets and joy behar on the view. there was no reaction from abc. keith oberman just got an expanded role a. >> ceos are drawing the line. >> maria: there's no tolerance. >> there has to be a limit to tolerance, even if someone's a star, even if someone is contributing economically. you can not have a different behavior to star employees versus average employee. the person who is in the ceo seat has to make that determination. the most important thing for ceos today is engagement and integrity. that's what our trust barometer says drive trust in an organization. if you don't have an ethical standard you cannot operate your business. >> maria: people are more aware than ever before, over the years, after the financial
crisis, people lost trust in everything, all institutions. it's surprising to see they're actually trusting ceos again. >> ceos are rallying in trust in part because they're changing their behavior. it's not just about their compensation. it's now somewhat about i am going to speak up on behalf of my employees, uber, others, where there's been change in the reality of the company. it's not just talk. it's actually changed the policy. >> a lot of it's been so reactive, though. are there any companies that you can see this ceo is taking a stand proactively on an issue rather than in response to something bad that happened? >> i think most companies actually respond to events, to be frank. and that's just the nature of life. but -- >> maria: how you respond. >> i think that's correct >> dagen: that's why i brought up the walmart thing. they said we're taking a stand,
we're not going to allow for discriminatory behavior or laws toward the lgbt community. that swine lane you're talking about is -- swim lane you're talking about is a lot wider. >> i think companies that are smart are looking five or seven years ahead. if you're in the trucking business, you know autonomous vehicles are coming, you know 3 million americans are truck drivers. you better be in the business of retraining your workers. i talked to the ceo of ups, he's involved in retraining community colleges, giving money to make sure that these people are going to be okay. you have to be ahead of this as opposed to some companies where you automate the stores and then people are thrown out of jobs with no kind of upside. >> maria: it's a great analysis. truck drivers, that's one of the opening positions right now. there's so many open positions for truck drivers right now, probably because there's training involved in terms of what do you do as the industry is about to change with the autonomous situation.
richard, it's good to see you. thank you so much for joining us. richard edelman joining us there. we'll be right back. stay with us. how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. a few problems actually. we've got aging roadways, aging power grids, ...aging everything. we also have the age-old problem of bias in the workplace. really... never heard of it.
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moves by the trump administration to stop china from stealing intellectual property. markets are up 155 points on the dow, up 14 on the s&p and up 27 points on the nasdaq. tough day yesterday. completely different story yesterday when the dow and s&p together saw their largest declines since april with the dow down almost 400 and the s&p down 31 points. both down better than 1%. we're watching the euro rebound this morning. it hit a 10 month low yesterday against the dollar. the euro is up fraction fallyals morning. in europe the indices are mixed. the cac is down 16. the dax is down 84 points. in asia, markets there followed the u.s. lower. sharp declines across the board as you can see. backing up the fbi, congressman trey gowdy says the law
enforcement agency acted properly in its use of an informant in the president's campaign last night on fox news. watch this. >> mueller was told to do a counter-intelligence investigation into what russia did. number two, president trump himself in the comey memos said if anyone connected with my campaign was working with russia, i want you to investigate it and it sounds to me like that is exactly what the fbi did. >> maria: it comes as president trump repeats his claim that the fbi infiltrated his campaign. we take a look at that this morning. making sure you fly the friendly skies, we will tell you who tops the list of america's best airlines. and beyond the sky you'll soon be able to book a trip to outer space. the latest as virgin ga lactic makes progress in the space race. one chick-fil-a franchise owner set his minimum wage at his restaurant at $17 an hour. we'll tell you about that. and how you can have a famous
pasbepastrami sandwich delivereo you. later this hour, who has the priceyest ticket in town, it's the nba finals versus the nhl stanley cup, the answer will surprise you. the top story, trey gowdy throwing his support behind the fbi last night saying he believes the bureau acted properly in its 2016 campaign probe. he said it on fox news with the story with marsha mccallum. watch. >> i'm even more convinced that the fbi did exactly what my fellow citizens would want them to do when they got the information they got and that it has nothing to do with donald trump. >> maria: this comes after gowdy and other key lawmakers met with christopher wray and rod rosenstein on the russia probe and 2016 campaign allegations of wrong-doing. joining us now, judge andrew napolitano. good to see you.
your thoughts? >> congressman gowdy and i were on with martha together last night. we did discuss this. he's referring to a phrase in one of jim comey's memos which actually recounts what comey says the president said to him. and according to the memo, the president said i didn't have anything to do with any russians but if anybody in my campaign did, i expect you will find them and i expect you will look for them in order to find them. impair rai'm paraphrasing thi. it was the portion of the memos that was not made available to the public. congressman gowdy has seen it because he has top secret clearance. he was arguing on that basis mueller began an investigation, actually mueller wasn't there at the time, on that basis the fbi began or furthered its investigation into the trump campaign. that's the issue number one. it sounds a little startling. president trump wants his own
campaign investigated but when you look at what he actually said or what comey says the president said to him, it's obviously rational. the other argument he made last night which is one that i have been making is the use of an informant in a nonviolent white collar crime investigation is so startlingly normal that it's really not of any note and for rudy guliani to call this person a spy, i'm laughing because when it's your informant it's an informant. when it's the other side's informant it's a spy. it depends on what side of the aisle you're on. to take this professor whose name our bosses don't want us to mention, to belly up at a bar or some public place and start talking to somebody in the campaign is a perfectly normal nonviolent, nonjudicial way to get information from that person, something rudy guliani perfected when he was the u.s. attorney in new york. >> maria: if there's a reason to
spy or be an informant. one issue is what was the reason to launch this investigation into trump, russia collusion. that's where i'm like well, wait a second, why did you need that spy. >> a lot of people have the same concerns that you do. this is where you get to what our colleague brit hume pointed out the other day. if they felt that the trump campaign had been infiltrated or was being approached by russians why didn't they tell anybody in the campaign? why did they just try to solve this on their own. i don't think this is a judgment call they made. i don't know that i would have made it the same way. i respect their judgment, believing if they tell too many people it will affect the outcome of the election. >> dagen: to your point, trump russia collusion is the phrase. congressman gowdy is suggesting the fbi wasn't looking at trump, they were looking at people who were working on the campaign, individuals, and that seems to
be the just at thi justificatiof the informant. am i reading that wrong. >> i don't think you're reading it wrong. you're reading it correctly. when they used the word spy six times over the weekend, they said can you assure to us nobody lower down in the campaign wasn't involved with russians and rudy said i can't ' and neither can the president. >> maria: there's no evidence of it. >> if there's evidence it hasn't been revealed by bob mueller. it's not the time for him to rel veal it yet. we know he's continuing to investigate. the information about the professor came out last week in a new york times article. the president who hates the new york times nevertheless relied on the times to say they're spying on me. rudy picked up on the word spy. >> dagen: we know robert mueller and his team have gotten guilty pleas out of a handful of individuals. the vast majority i think it's
four out of the five guilty pleas are related to lying to investigators or to the fbi. so again, it's not about collusion. the guilty pleas aren't related to collusion. they're related to lying. >> here's how they're related. when the government can get you to plead guilty and part of the guilty plea is you will cooperate with them and answer whatever questions they put to you, they're expecting that some of the answers you will give them will help them in their principal investigation. >> maria: the president talked about this last night at the rally in nashville. watch. >> so how do you like the fact they had people infiltrating our campaign? can you imagine? can you imagine? never in the history of our country has something taken place like took place during this election. >> maria: because at that point there wasn't any evidence to launch the campaign. devin nunes came on this program and said there was no
intelligence use. this is why i keep bringing it up. >> this is why when rudy guliani suggested an undercover fbi agent tricked them and entered the cam page and met in private with other campaign people as if he was part of the campaign, there's no evidence of that whatsoever. to correct the president a little bit if i may, in history, we know that l.b.j. used the fbi to surveil barry goldwater to the point where l.b.j. has copies of goldwater's speeches in hand before he delivered them. i wonder what j. edgar hoover got in return. >> maria: the new york times did report president trump asked attorney general jeff sessions to take control of the russia probe after he recusehood himself from the probe. according to this report, robert mueller is looking deep into this. your take on this. >> i don't think this has anything to do with obstruction of justice. if trump was upset by the recusal, i understand why he was, i might have asked sessions
to reconsider it as well. >> maria: the i.g. report could be out tonight, could be out this week, what are you expecting? >> it will say hillary should have been prosecuted. she wasn't for political reasons. >> maria: i wonder if there will be criminal charges that will be recommended the way the other i.g. report did. >> probably. >> maria: thank you, judge napolitano. we'll be right back. 1948... [sfx: bottle sounds on conveyor] one bottle at a time. today, we produce nearly 20 million cases a year. chubb has helped us grow for the past 30 years... they helped us prevent equipment problems during harvest and provided guidance when we started exporting internationally. now we're working with them on cybersecurity. my grandfather taught me to make a wine that over delivers. chubb, over delivers.
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>> maria: welcome back. the award for best u.s. airline in 2018 goes to -- cheryl casone with the answer. >> cheryl: i love the build-up. jd power has the look at the top carriers. alaska airlines came in first place for the 11th straight year among the traditional airlines. delta coming in second, dagen's airline, followed by air canada, american airlines, and united airlines. southwest airlines took the prize for the top rated low cost airline for 2018. that's the second straight year. they earned the best overall score in the jd power survey and
jetblue came in second place. shares of alaska down about 17% so far this year, but they've got this little award to make them feel better about their stock price. virgin group flying higher than those other airlines literally. it's got a rocket-powered spacecraft. the founder was on hand to witness a an incredible feat. it soared about 1300 miles per hour. they had extra passenger seats on-board. branson called the achievement, quote, inspiring and absolutely breath-taking. this was the second successful test flight. they hope to one data paying tourists to at least the edge of space. they talked about some other destinations down the line. some chick-fil-a employees are about to get a major wage hike.
hospitality professionals will soon make $17 to $18 an hour at a sacramento, california restaurant. minimum wage in california is $11 an hour. the franchise owner says it wants to make sure employees have a liveable wage in sacramento. staying on food from chicken to beef, new york's iconic deli launched its first ever subscription service. you can have that famous sandwich delivered anywhere in the country but it's a little expensive. it's $1,500 a year. here's what you get in your box. enough food for four to six people. you can customize it. it begins next month. orders are accepted on their website. they may not be able to make it in new york city as a restaurant, but you know what, they can just ship all over the rest of the country and call it a day. >> maria: the $1,500 a year is for the food as well as the delivery. >> cheryl: it's a subscription service that you pay.
$1,500, you've got to really love pastram. >> have you ever seen their sandwiches. >> dagen: langers in los angeles has the best pastrami in the entire nation. it beats new york. go to langers, trust me. there you go. downtown l.a.,. >> maria: when we come back, two of the nba's biggest stars facing off but snagging a ticket to see lebron james compete against steph curry not the most expensive ticket in sports. we'll tell you about the most expensive ticket in town. you maw be surprised. i -- you may be surprised. stay with us. ♪ higher, higher, higher off the ground. ♪ it's taken me higher, higher, higher off the ground. i got scar tissue there. same thing with any dent or dings on this truck. they all got a story about what happened to 'em. i could feel the barb wire was just
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>> maria: welcome back. sports stars headed to the white house today to take part in president trump's field day on the south lawn. jared max with the details. jared, good morning. >> jared: good morning, maria. whether the blame false on video games or ad addiction to smartphones or tablets, fewer kids are participating in sports. president trump's council on sports, fitness and nutrition takes the center stage today. the president will hold a field day that will feature several sports for kids, baseball, flag football, golf, soccer, volleyball, track and a field. there will be former baseball players, football players. this initiative aims to make more sports available to economically challenged youth. next tuesday the super bowl champion philadelphia eagles will visit president trump at the white house. two eagles players who won't attend because of political opposition to the president,
chris long and malcolm jenkins. long became anil lie of the anthem protest movement. jenkins held a fist in the air. they oppose the new policy that mandates players who choose to be on the field must stand for the anthem. long said they're afrai the ownd of the president. they said it reopened a can of worn's and it will only -- worms and it will only get messier. call j.j. watt doctor watt. he got an honor rary doctorate after he raised money for hurricane harvey relief. what do you think costs more, tickets to see an nba final game or nhl final game? hockey rules. the cheapest ticket between the golden knights and washington capitals is $711. it goes up to $789 for game
three in washington. capitals have never won the stanley cup. vegas hasn't either, it's their first season. to get into game one of the nba finals is around $400. the average price to get into the nhl finals is a record price. >> we couldn't get tickets. it was sold out. it's the hottest ticket in town in las vegas. >> jared: bigger than the white tigers. >> bigger than penn and teller, who we saw. >> maria: wow, big numbers. >> dagen: we talked about the anthem protest and the nfl's new rules. the first amendment doesn't protect your speech in a private workplace. nfl can do what it wants. abc can do what it wants. so again, roseanne's speech,er
job is not protected. she can make a racist bigoted comment. abc has the right to fire her just like the nfl has a right to put in those rules. >> maria: absolutely. >> jared: what job allows you to be an activist? >> maria: , right. catch the sports reports 24/7 or sirius radio, xm115. an exclusive interview with star starbucks' ceo coming up, that's next hour on "mornings with maria." plus, kevin mccarthy on tap as well. back in a minute. ♪ take another little piece of my heart, baby. ♪ take another little piece of my heart. whoooo.
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thanks so much for joining us. i'm maria bartiromo. it is wednesday, may 30. top stories right now, 8:00 a.m. on the east coast investors brieinging a sigh of relief this morning check out futures, we are in just shy of high of the morning with dow industrials up 140 points, two-thirds of a percent the s&p up 12, and nasdaq up 26. a third of a percent the may adp report just moments away along with second read on first quarter gdp, we are bringing all the economic data this morning as soon as they hit the tape, and check markets for reaction we've got a pretty good opening expecting this morning but comes after a tough day yesterday, the dow and s&p 500 seeing worst declines since april yesterday dow down
almost 400 points political uncertainty out of italy weighed on investors as well as certainty around china, major move yesterday was in euro, versus the dollar, this morning we are seeing a rebound here as well, the euro was down from 10-month low against dollar here 1.16, as you can see, there global markets this morning mixed check out european indices ft 100 up a quarter of a percent 22 points higher cac quarante and paris down, 22 points, almost half a frz, and dax index higher by two-thirds of a percent 80 points higher in germany in asia followed u.s. lower sharp declines across the board. worst per formaler shanghai composite in shanghai down two and a half% on session japan down 1 1/2% action on trade white house surprising beijing yesterday, with plans to move forward with tariffs after all now china is fieg back, just days before commerce secretary wilbur ross heads to beijing for trade talks here what is peter inactive afro told me last hour. >> won as a trade dispute they
were having with china number two president trump side, we lost a lot trade war long ago president obama bush clinton going on back in history we lost that trade war when china joined the world trade organization. we got into nafta president trump, has courage vision to turn that around. >> a closer look at administration new policy, announcements around the theft of intellectual property forced transfer of technology that is coming up, starbucks back open for business this morning, 175,000 employees undergoing racial bias training, yesterday. coming up 8:30 a.m. eastern this morning, starbucks ceo ken janeson in fox business exclusive coming up, a win for dick's shares of retailer surging after company beat expectations on earnings check out stock up almost 19%, dick's sporting goods now 3620 this morning, competition, is electric gm looks to steam
away tesla customers with all electricity chevy bolt, going to take you behind the wheel of a bolt, later this hour stories coming up wednesday morning joining me to talk about it fox business network dagen mcdowell, tw.c. partner mitch roschelle, and lee carter great to see a everybody. >> great to be here. >> two hours flew by. >> they did a lot going on this morning. >> so much going on. >> between china, and roseanne -- and -- >> starbucks. maria: starbucks. >> don't forget about that. dagen: absolutely one thing about trade, that -- because essentially zte last week got a pass, from the trump administration, they didn't lose -- the ability to apply components from u.s. companies, but, again, you start slapping on tariffs even though getting tough about the technology theft, of i.t. a technology transfer you start slapping on tariffs, this hurts farmers in this country going up towards midterms, so
you are making a to have you economic decision, pull theing foot down about that helps silicon valley they vote -- democrat, but you could possibly hurt very people who voted for, auto tariffs a lot of cars made in this country, and red states. maria: i agree with you. dagen: south carolina. maria: i like pushback on it theft pushback on forced technology transfer important to business business matters not china applying 200 billion dollars more stuff. dagen: it is safe to say tournament trump in area leaning toward navarro, lighthizer away from secretary mnuchin there was that push and pull within white house that is fair to say. maria: looks -- for sure we've got a big show coming up joining the conversation, talking about all vrz starbucks ceo kevin johnson with me house majority leader cal congressman kevin mccarthy joining me to many momentarily stuart varney will weigh in a lot coming up this hour kick
off right here with this stop story 8:04 on the east coast president trump is held a campaign style rally last night in nashville touted the booming uask economy a lot more, blake burman with the very latest right now from with white house blake good morning to you. reporter: maria, good morning to you as well a blank canvass for president trump last night stump in tennessee in support of marsha blackburn bid for u.s. senate there the president disabling down on unif you would filled campaign promise so far saying that mexico will fund the border wall. >> in the end mexico is paying for the wall they are going to pay for the wall they are going to enjoy it okay? they are going to enjoy it. [cheers and applause] >> they do nothing for us. >> within minutes review from mexican president who wrote on twitter president trump no mexico will never pay for a wall, not now, not ever, sincerely mexico, all of us. >> the president, also had this new label for the top
democrat in the house nancy pelosi. >> the ms-13 lover nancy pelosi. lovers ms-13 can you imagine? remember? . >> i said they are animals she said how dare you he say that. >>. reporter: the president began where many feel he should begin and end most speeches maria touting the economy last night, saying during his tenure 3.3 million o jobs have been created he also said that details regarding association hotel plans should be released here, in the upcoming week. maria: make thank you so much blake burman at the white house this morning, as usual, joining me right now, house majority leader congressman kevin mccarthy of california always a pleasure to see you. thank you for joining us. >> thank you for having me back on. maria: last time we saw the president return to this campaign style i think he lovers it actually. >> really goiz it after he does rallies will come back talk about them he enjoys it. maria: has energy talking
about the economy, you did a great job with the tax reform plan there is a lot of conversation now that things are going to ultimately slow down, in 2019 and 2020 much runway admit plan roll backing regulars have. >> first taxplan going to be armageddon? the bonuses krums? unemployment 3.9 the lowest in almost 20 years some won going to college best economy they have ever seen unemployment claims as 44-year low that is four decades, 48 out of 50 states have a lower about about about electrical bill case of that pass-through how many millions got a bonus one he 1. million a longer maternity leave i don't think slowing down i think continued growth isn't only thing we have done last week, last week dodd-frank reform you know what that is going to do to banking community, the small businesses be able to go forward. maria: more lending. >> right to try, so this is a
person seriously, able to get a drug not proved within a trial, we just did more va tax reform signed into law we did mdaa prison reform all just last week coming up opioids, not one person in there doesn't know somebody addicted to something in the process. 174 people will die today case of addiction, and we've got almost 70 bills coming to the floor democrats fight us on that as they fought on tax reform but just as that we will not stop. we will solve this problem, work on prevention and or these, and you are going to find a big june moving through i think the economy is going to continue to grow, i look at what we did against human trafficking, this is this is he modern day slavery pre70% of that went on the web, about we signed a bill in less than two months ago back pay shut down look what craigslist has
done talked about 80% happening on web now shut down. >> this is what you are going to be running on in november for midterms. >> so -- >> story what you have done this year. >> and the economy doing better is that is that your best shot to hold the -- the majority come november. >> if election was today we would hold majority, i mean think about it look at generic ballot where it was a year ago plus 13 for the democrats somebody had it in plus one for republicans, and that is because economy continues to grow, democrats fight us all along the way, we are dealing stopping human trafficking, dealing with opioids, fighting us in that process. >> they resist the resist campaign got to do something else in order to actually resonate with american people i got to ask you about north korea is summit happening white house moving forward with preparations for the president trump kim jong-un, summit on january -- june 12, in singapore, mike pompeo to sit down with top north korean
official kim young chol in new york. >> look where relationship with north korea rest of the world i give this president trump great deal of credit it was democrats criticized the way talking about it brought them to the table, he is able to shut the border down with china, he is able to bring north korea into south korea, and you know what? he is gonna have the meeting if the right terms, and i think the rest of the world should look remember, when a reagan was meeting with gorbachev had to juaning abay to get that berlin wall to shut down president trump will do the right thing have the right tone i see progress in this meeting going forward i think because of the actions that he has taken. maria: so in -- in all of this, you talked a lot about the economic issues going into november you are expecting to do phase two of the tax plan or is that after the election. >> no, that is before the clecs! >> you think before november, election. >> we passed more than 800 bills one of the most -- progressive hours from progress moving forward the number of bills we got more
than 500 sitting in the senate yes, we will do phase two kevin brady will roll that out make permanent individual rates as well other places that we can continue to expand. >> will senate go for this is before election. >> you know what senate has done with 60 votes right they vote not to even bring their bill up after we passed last year all 12 appropriation bills, the democrats would vote, not even about for or against it just not even to have the debate that is long watch what they did with any appointments take last six presidents, the number of -- couture votes to appointment 24 down more than 88 two years. >> health care, president trump teasing new plans, on the way, he spoke at in nashville last night about it what can get done in terms of lieutenant colonel. >> well this is going to be administratively, for association plans others in department of labor can do, letting people more pool their plans together, to lower the cost, but remember what we were able to do house was successful in passing the
plan, about we were one vote short in the senate. maria: right you got the thumbs-down. >> thumbs -- >> about it remember this, in the tax bill, the individual mandate moved, so we have made progress on this already. it is -- so administratively can even do further, to lower the price for individuals, we're going to do everything we can, to solve this would be. >> you still trying to rescind the 15 billion dollars. >> yes, that is coming up look for that in june as well. maria: let me ask you this i was read your social media earlier you tweeted out. >> you follow me. >> yes, i follow you, social media is being rigged to -- to censor conservative voices. >> this has to stop if you look what amazon excluded alliance for defending freedom from charity practice many some liberal group went into smear program alliance for defending freedom is one of the most respected public interests, they have two cases pending before the supreme court, but this is what has
happened watch what twitter did someone did a pro-life tthey said it was -- was inflammatory saving a child are we watching 2016 what facebook did look what happened to don, jr., over weekend they tagged his name, as being, you know, a problem, like something to the to follow this individual. >> what are you going to do it are we going to see heavy regulation against 10ihe agains. >> you more more powerful. >> how much are they able to control how much information is provided do we know if conservative message is out in news feed in doubt after 2016 are people using percentage bias they think talking about pro-life is inflammatory, if don, jr., puts out his name someone wants to poll it, that may be a wrong place to look it may cause damage? only because putting a picture of his child up, that bias has got to stop! otherwise i think we have to regulate this process look at
in series way we've had, the ceo zuckerberg before but i think other ceos need to come before to a we have to look what is up we have first amendment in this country apparently, in these organizations, if it is conservative, they are thinking, second -- thoughts whether that could be moved forward that is wrong. maria: i think you make a lot of good points your priority come 2019 should you become speaker? >> we've got a great deal first of all, we want o finish off what we are doing we got tax reform to go through we got infrastructure we've got opioids, we want to continue to build this economy, so the next century is america's century also means solving immigration. >> majority leader kevin mccarthy we will be right back. set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com
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- [eckstein] call the number on your screen. adp numbers hitting is it wirings private sector adding 1 78,000 jobs below estimate 190,000 jobs created, as you can see markets holding up still up 1240 points on dow industrials but this number is a bit kwaeshger than expected 178,000 jobs created in the month of may, joining us right now advisers managing partner ted oakley. >> i think what happens different than 8 or nine years ago looking for job creation what is happening wage problem you don't have anybody to go to work you can't create jobs, if you don't have anybody there, so you are in sort of a
wage war for good people now that is the problem. maria: where is the growth in error you -- why is growth in your view. >> last few months number came out i haven't seen details here but last few months you've had manufacturing not very high, companies 100 to 300 people may be 400, and leisure down somewhat so i suspect probably would go the same way. maria: estimate was 190,000, and this comes in a little below expectations, mitch. >> i am trying to figure out sort of what the rest of the year looked like we had this stimulus tax reform, we've got the economy growing, do you think this is going to be the month after month disappointing jobs numbers especially going into midterm elections that could be troublesome for the incumbents? >> well, i think so i mean i wouldn't look for any robust growth here we have not had
anything out of line last four or five months so i will be surprised if you get anything really that is so -- you know that is going to be really -- out of line for what we're looking for on upside, i suspect it will stay going through the summer, about the same, more than likely. >> 3.9% unemployment where there is maria this is a point that she has hit over and over and over again, that there is a skill gap in this country so but that does suggest an extremely health economy with unemployment rate that low. >> it does, except it is a demographic thing as much as anything. because if you look at people college education, and higher they are unemployment rate is extremely low. and so the gap is what the problem is, we don't have people to fill above that level, you know you have to go back i think to 60s to see a period where we stayed this low for this long, so i suppose what i see going
forward to me it is a question of demographics as much as anything right now, you know automation robotics all that stuff has a big part of this whole theme right now. >>. dagen: one thing with adp miss coming up -- short by 12,000 jobs, kevin sent out estimates for friday payrolls government jobs' report, and there was already a slight reduction in the estimate for private payrolls there, we are expecting 183,000. jobs added in private sector, overall 188,000 nonfarm jobs again you already have a little bit of a pullback by economists even before adp report came out, you might not have a broader impact on the big friday jobs report. >> typically a market mover this has not moved markets very much thank you very much for weighing in ted oakley joining us join us friday for jobs in america coverage beginning 8:00 a.m. eastern special coverage identifying exactly where jobs are right
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maria: well back retail earnings on focus dick's sporting goods dfw he quartering earnin quartering. >> nicole petallides. >> taking a look double digits percentage gain 23% even just last half hour, it continues to surge, this is after a beat, and a raise be the street for numbers private brand fewer promotions why so
well on quarter raised guidance going forward so this is truly a winner you can see up 23%, it has slightly underperformed s&p specialty stores index this probably will blow it out of the water move it ahead dsw designer show house to downside accelerating downside down about 8%, better than expected, this first-quarter earnings revenue the outlook somewhat in change but one part they omitted they did not affirm the revenue or same-store sales outlook and that has brought, some uncertainty no one likes uncertainty particularly retail can be somewhat temperature mental down 8% maria. >> thank you so much, nicole petallides, coming up sitting downs exclusively with ceo of starbucks kevin johnson with us to give his take on the company closing thousands of stores for onto bias training yesterday see how it went. back in a minute. >> ♪
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learn more at standard lithium dot com. maria: good morning well back thanks so much for joining us this morning. i'm maria bartiromo. it is wednesday, may 30, top stories right now 8:30 a.m. on the east coast, breaking news on economy, the second reading on first quarter gdp about to hit the wires, expecting to hold steady 2.3%, from the first reading we are going to have that gdp number for you,
as soon as it hits the wire. so stay with us on that. it comes after a weaker than expected reading on private payrolls earlier the adp report showed 178,000 jobs created in month of may. we are still looking at solid rally to stock prices, take a look, dow industrials up 145 points right now, two-thirds of a percent, expecting strong opening from s&p, and nasdaq. 2.2% growth is the gdp number, just hitting the wires gdp again at 2.2%. we are looking at not really reaction in markets will watch with gdp number coming out 2.2%, versus estimate of 2.3% growth. . slightly shy of the estimate but, nonetheless, showing solid growth first quarter the markets this morning look like this take a look we are expecting a strong opening from u.s., indices over in europe we've got a mixed story this morning fo o ft 100 up 26
a third of a percent cac quarante in paris down a third of a percent 16 points lover dax in germany up three-quarters of 1% high of the morning right here, in germany, up 98 points in asia overnight declines across the board, investors there reacting to political interceptor in italy as well as new threats of tariffs in fact u.s. did come back, and say they will in fact apply tariffs to chinese goods. that undermines shanningly down 21/2% ont this half an hour back to business, starbucks will be open all day, as normal today, after closing, 8,000 stores early yesterday for a company-wide antibias training session, about the agenda included guidelines for identifying and understanding bias, using interactive activities, voo does. >> not always easy to see our bias as human being what cause us not to treat others with
republican dignity cannot conclude them, now we are going to pays to reflect on bias on our own. go to your notebook find a section called the first steps of becoming -- >> joining me right now in fox business exclusive is ceo of starbucks kevin johnson good to have you on the program. >> good morning. >> thank you so much for joining us congratulations that was a big move that you made yesterday, how did the antibias training go? >> well thank you, maria i think, you know the feedback we have gotten from starbucks partners we call all employees partners has been very positive we are pleased that this was one step in a journey, and it with a as foundational step, really anchored on rein forcing the heritage of the company around accept of the third place not your home not work but a place that creates a warm welcoming environment and sense of belonging for all we are pleased with the step we took. >> how do you make sure this stays in the o the culture of
starbucks, and this is not just a one-time event, i mean look as company you have been really ahead of this issue, a couple years ago i remember howard schultz wanted to write race on coffee cups he wanted to trigger a conversation with baristas, people said i just want coffee, so how do you what is your response to that in terms of maybe people feel like maybe it is too much talking about this when getting coffee? >> certainly, this is about -- the work we did with with our starbucks partners to ensure every customer that walked in our store feel warmer welcome a sevengs belonging heritage of a company one step in journey as you points out not just a one-time thing what why doing we are now reenforcing training with monthly mod you'lling next 12 months architecting next set coming outgoing to weave into the fabric how we operate training will become a part of new hire
immersion we hope we create a better customer experience for all a better customer experience attractings more customers to starbucks a foundational investment in the future. >> it is really a balance to walk because initially when that incident first happened, when those two gentlemen you were arrested you got backlash for opening doors not everybody, saying yeah anybody can come in, go to the bathroom sit there even if you don't order anything how are you going to -- stop homelessness how are you going to stop people not paying taking the tables for those paying customers? these are all little you know land mines. >> well, maria we serve over 100 million customers a week exceptions some things you mentioned we have been dealing with those for years so we have a set of principles and things we respectfully ask
customers to follow certain principles guidelines in rare case where should he don't we have exceptions store partners know how to handle those that, too is part of the training that we did yesterday. >> i don't know if you saw martin luther king, jr.,'s niece op-ed in washington examiner said if starbucks wants to end racism will stop funding planned parenthood are you going to stop funding planned parenthood. >> i am not aware that we do fund planned parenthood i haven't red op-ed i can't comment i am not aware we to -- >> the arleta king said starbucks had the racism in corporate identity long before arrest per capita donations contributes to planned apparent largest signing provider of aborrow assistance from al see verieda king in washington examiner. >> i am not aware of what i am aware of do believe in we want to create a great customer experience for every customer that visits our stores, yesterday's investment in this
training, was all about a foundational event and it was about investing in the future of starbucks. >> how did employees react what kind of things did you do in training. >> if you think about we tried to create, an experiential session, for four to five hours and i took the entire 60 person leadership team through this training, that we did together, in seattle last week. and what i can say it is an experiential journey the end of five hours we were exhausted physically and mentally facilitated using ipads guide books self study books opportunity to do self reflections dialogues in small groups two to three people from that a learning experience. >> very important to have the conversation. >> it is. and it is a difficult conversation, that i think in many ways a lot of people shy away from. but for us it was important to really focus on this, and do it in a way that was authentic to starbucks in a way that we
felt was core to not only our mission our values, but core to what we try and create in our stores, which is a sense of belongingsing. maria: how is business going right now kevin. >> certainly, the economy in u.s. doing well you reported unemployment is at a low, and so you know, our business last quarter grew something like 14% top line, and i know big part of that was the acquisition we made, of our joint venture in east china east china u.s. two big growth engines we're continuing to streamline company focus much more on core business which is our retail business, you know the opportunity for us, ising we've got to continue to focus on growing our same-store sales in u.s. that is a priority. >> i want to ask about east china you have such experience with all stores in china, that is one of the conversations we're having all morning let me stay on u.s. a second the president touted the economy and historically low unemployment during rally last
night nashville tennessee listen to what president said. >> we created -- >> we created jobs i think what he about to say he was talking about the tax reform plan, helping companies is that a plus for you able to give starbucks employees obviously cash benefits after that law passed the president talking tax tax reform 2.0 how impactful was the tax cut plan for you -- >> tax reform something we had to look at make a decision on what do we do with the additional operating net earnings that would create beef been on multi-year journey to invest in partners wage and benefits, and by doing that, it allows us to hire create the kind of experience hire great starbucks partners that create the kind of experience for customer we took a portion, of the funds from tax reform and we vested in our partners in the form of wage, and
benefits, we enhanced the family leave benefits a number of other things that we thought you were right thing to do for starbucks the right thing to do for our partners. >> another policy this morning we are talking about is the fact that the president said look we are going to stop china from stealing intellectual property, we are going to stop china from the forcing intelligent transfer, to china we're going to try to help open markets how is your experience been tell us about your experience how american business is able to go open up shop there. >> well you know maria we have been in china nearly 20 years now, and you know we have approached china in a way that we think is built a long-term opportunity for starbucks. we have built our stores in a way that we feel are culturally relevant to the chinese we've -- it is sort of a tea drinking society we have wen introducing them to coffee, as well as portfolio of our teas, and this latest step that we've taken to
acquire one hundred percent of joint venture in east china allows us to unify china positions us for growth ahead now over 3800 stores across mainland china increased our annual store growth, about that new store growth to 600 new stores a year, so we have been in china a long time, we have a great great set of partners in china, starbucks partners in our stores we create a wonderful experience for our chinese customers we are committed it is a market that we think has decades of growth ahead. maria: very positive i think chinese love starbucks brand you are seeing you've seen a great response other thing key to growth is your engine newte o innovation in terms of beverages what is flex in terms of innovation on beverages what did you think of o coca-cola coming out saying we are going to sell alcohol. >> we have been focused on innovation across a wide range
of things we innovate on store design seafood and brifrj innovate on digital when it comes to beverage we are a beverage first company, we he differentiator being able to do hand crafted burgeons around coffee and tea, much of the innovation that we are seeing these days coming around cold beverages, things like cold brew he coffees nitra cold brew, cold foam beverages i was a in china two weeks ago hosted first china investor conference 60 of top investors wall street analysts in china showed them the largest starbucks in world innovation on store design took them through r and d had them sample new beverages we left them give us feedback which ones they like best we will stay tuned see what they came up with. >> you have been so incredibly he innovative on that you also did a deal with netflix let me you about that a lot of
people see that long-term positive for the company, growth prospects. >> with nestlé significant step is to streamline company focus on core value drivers, we built a wonderful business in north america around consumer packaged goods food services selling starbucks coffee grocery stores mass merchants for example that is just in u.s. so what our relationship with nestlé will allow us to do that he globally we are in 76 countries around the world, about so we are going to take the formula we have done in u.s. canada, north america, and we're going to bring that globally, so nestlé will provide many, many more distribution points for selling our roasting, coffee k cubs this is first time opening up platform with nestlé, for starbucks company
growths geographically. >> that is started racially bias training yesterday what you have been able to do by closing those stores 8,000 stores yesterday how much is that going to cost the company. >> we look at this, as an investment. and investment in the future of starbucks if we he we haven't tallied total cost but tens of millions of dollars we feel like it is an important investment because it is an investment that goes back to the heritage the core of what built starbucks, this concept of third place investing in partners low work so hard do such a great job to create that warm welcoming experience for our customers so this was an investment you know tens of millions of dollars to rereenforces that i closed stores that much time some might say you could have said one manager in one store it was a mistake, and we our
whole image has always been bring computer sit at table do work all day, but you went the extra step to close the stores and do bias. people might say maybe this was one step beyond but you you see it as important investment. >> i see it will as very important investment, and really about the future of starbucks, it is about reminding each of us the importance of creating that environment for every customer that walks in our doors, so we are you know it was the right investment. >> where does growth come from at starbucks coming couple years. >> certainly if we think about the -- the work we're doing, in the u.s. and china those are two big geographies we are building more than 2000 new stores a year, so you know somewhere in the world we are opening a starbucks on average every four hours. maria: wow. >> we are going to get he growth from new stores growth by growing our sales within existing stores and this global coffee alliance with nestlé's represents a significant growth opportunity that i think has not yet been
quantified recognized by investors. >> are you seeing a tight labor market right now. >> we are certainly unemployment is down, and i think, you know many ways, you know we are fortunate benefit wen investing ahead of the curve in partners wage and befrz so we continue the attract great partners to starbucks. >> kefb johnson there we will be right back,. en we found out how many yeas that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges.
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>> we're pleased that this was one step in a journey, and it was a foundational step really anchored on rein forcing the heritage of the company around the concept of third place, a place that is not your home not your work, but a place that creates a warm welcoming environment and a sense of belong for all we will pleased with the step we took. >> starbucks ceo kevin johnson right here talking about moving forward after yesterday's company ride antibias training session joining me the host of "varney & company" stuart varney to weigh in good morning, stu. >> good morning, maria. i think, the ceo is right
there, they stake their claim to becoming a third place, a warm environment go in drop in enjoy your environment, i can see all of that, i don't think though that these latest moves by starbucks will have any long-term impact on the business. nonoverall that i can see i don't see people stopping going to starbucks because of that policy i don't see people starting to go to starbucks because of this new policy, i think nothing changes, quite frankly. other than they have established that position, as far as social policy is concerned i was looking at introoegd long term growth prospects in china i didn't catch how many stores opening this year or next year until it this is thousands about maria: why he -- >> that surely is basis for future growth nothing to do so
much with social policy as with china policy that is what i got out jiest i think you are absolutely right chinese very important market when you look at analysts reports what analysts say about starbucks all about china, they have to get that strategy right. i was introoegd looking forward to owning hundreds different than you normally see in china not allowed to own one hundred percent of anything but little by little, i assume these markets will open, i mean recently, because of president trump's pressure the chinese leader said auto companies will be allowed to own one hundred percent of a company 23 you are auto maker, in five years so not right away but within five years i think this is the beginning of those markets openings. >> yes -- but starbucks doesn't have much new technology to offer china another different kind of company a tech company or industrial company may have something in terms of technology chinese want,
therefore, full ownership in china may be -- different. >> "varney & company" top of the hour 9:00 a.m. join stoouf stuart after "mornings with maria," back in a minute. secure from hacks and threats others can't see. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know. this is the ibm cloud. the ibm cloud is the cloud for smarter business. ♪ ♪ i think, keep going, and make a difference. at some point, we are going to be able to beat als. because life is amazing.
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>> all right welcome back markets have come off weaker than expected data tay from gdp jobs number and get final thoughts from lee carter. >> i think it is interesting to see the follow-up on some of the big business decisions that have been made. starbucks an their closures, at doesmy and what they did with roseanne, it's time for panes to take a stand consumers it is interesting to see how it plays. >> richgd said as well. mitch. >> gearses dp number kale out versus estimate of 190 and see a lot of disappointment in jobs numbers and it is a sign of being late in the cycle and full employment you can't hire people that you can't find. >> rebound is 10 years old now. and ill point out what adp the
combine revisions to april and march showed, 71,000 fewer jobs and previously reported. so that was the -- that was more bad news in that report. >> not a great number there. thanks everybody. great show thanks for joining us that will do it for us. "varney & company" begins right now. stuart over to you. >> good morning everyone. wow -- oh what a difference a day does make. scared of a euro implosion yesterday and solid rebound today and half hour from now we're up triple digits on the dow industrials after a big drop tuesday could be up over 100 points big gain for the nasdaq too. today rebound led by technology companies. afterall many of them are sitting on mountains of dollars and the dollars value has been rising. they will be up for the opening bell xepght for apple welfare news on the economy. and first three months this have year -- now learn economy grew at annual rate of only 2.2% that is a little weaker. that originally reportedded.