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Quest Means Business
Venezuelan Opposition Leader in Washington to Secure Support; Brent Crude, WTI Fall More than Four Percent; Kyiv Facing Subzero Temperatures Without Power. Venezuelan Opposition Leader Maria Corina Machado Says She Presented Trump with Her Nobel Peace Prize; Trump Threatens to Use Insurrection Act to Deploy Troops in Minneapolis; Minnesota Businesses Say ICE's Presence is Hurting Sales; "Autofocus" Glasses Adjust Lenses to Eye Movements. Aired 4-5p ET
Aired January 15, 2026 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:14]
RICHARD QUEST, CNN INTERNATIONAL HOST, "QUEST MEANS BUSINESS": Closing bell ringing on Wall Street, and as you can see, a good dose of green right
across. The market was up at the beginning and it has pretty much held those gains throughout the course of the session.
Sir, Carlisle, bring us to a close. Oh well, I think we could call it firm or we could call it a wimpy gavel. I am going for a wimpy gavel from the
gentleman from there.
The markets are shy of record territory, so no records today. But those are the markets and these are the stories we are talking about today.
Venezuela's opposition leader is visiting The White House as the U.S. begins selling Venezuelan oil.
The Trump administration says its reached an historic trade agreement with Taiwan, and immigration crackdown in Minneapolis is now weighing heavily on
some local businesses. You're going to hear from the community.
We are live in London. It is Thursday, January the 15th. Where did January go? Would somebody like to tell me? I am Richard Quest and I mean business.
Good evening.
We begin tonight with Venezuela's opposition leader in Washington visiting The White House trying to secure the support of lawmakers and, of course,
President Trump.
In around an hour from now, the Nobel Prize laureate, Mara Corina Machado, she left The White House after meeting with Donald Trump. She greeted and
hugged supporters who gathered outside. Now on Capitol Hill, to have bipartisan meetings with senators, Mr. Trump declined to endorse her after
the U.S. capture of Nicolas Maduro, which all of which has left her status somewhat murky.
The White House Press Secretary, Karoline Leavitt said that Donald Trump's opinion had not changed.
(BEGIN VIDEO CLIP)
KAROLINE LEAVITT, WHITE HOUSE PRESS SECRETARY: I think the President's assessment that you just pointed out was based on realities on the ground.
It was a realistic assessment based on what the President was reading and hearing from his advisers and National Security team, and at this moment in
time, his opinion on that matter has not changed.
(END VIDEO CLIP)
QUEST: Now in Caracas, the Acting President, Delcy Rodriguez, has just finished her State of the Nation Address. In it, she said Venezuela should
have no fear of diplomacy and that her goal is to preserve peace.
A member of the Trump administration says the U.S. has already started selling Venezuelan oil, and that the first sale was valued at $500 million.
The official says the oil will be sold in the coming days and weeks.
Our correspondent, Stefano Pozzebon is in Bogota, Kristen Holmes is at The White House.
Tonight, I start with you, Kristen, because what is going to happen? Machado is at The White House, whether or not the Nobel is handed over, I
mean, who knows the way it is all going to -- tell me how the day is expected to play out.
KRISTEN HOLMES, CNN SENIOR WHITE HOUSE CORRESPONDENT: Yes, so the meeting is over. We saw Machado leaving The White House. I actually ran to try and
catch up with her. There was a lot of reporters there asking questions about how the meeting went. Did she, in fact, turn over the Nobel? She did
not answer that.
Now, of course, as we know, this Nobel Peace Prize was really looming over this lunch, she has said that she would be willing to share it with him,
but only after reports surfaced saying that part of the reason that President Trump said that she was not fit to run the country was because
she did not offer up her Nobel Peace Prize, something President Trump himself has denied, saying.
But just two days ago, or even yesterday, he was asked specifically about whether or not his opinion of her would change if she did, in fact, hand
over the Nobel Peace Prize and he didn't answer directly. He said, well, we are going to have to have a talk.
And then he said, there is no one more deserving of the peace prize than me. So clearly there, it is on his mind. Of course, this is a critical
meeting for Machado because as this government continues to be led by a Maduro regime Vice President, now Acting President, Delcy Rodriguez, she
obviously wants to be in front of President Trump should he endorse when the time comes.
Kristen, stay with me. Stefano in Bogota.
[16:05:01]
Two issues for you tonight. Firstly, of course, we are going to deal with the oil in a minute. But the failure of the U.S. to back Machado. How -- I
mean, where does that leave her back in the country? Clearly, they're not going to be able to lock her up. No, I am saying that, in the same way they
would have done with Maduro had been there, but her position is by no means certain.
STEFANO POZZEBON, CNN CONTRIBUTOR: I think that she still remains a very popular figure in Venezuela, let's remember that she led -- Maria Corina
Machado led a coalition who received, Richard 67 percent of the votes facing off Maduro back in 2024.
However, there will be, of course, a lot of demarcation. There would be, of course, a lot of hopelessness, perhaps especially, and I was listening very
carefully to the briefing with Karoline Leavitt at The White House just after she said those words that you played in the lead. She also said that
while Trump is committed to seeing a democratic transition and perhaps even elections in Venezuela, he said that they have not -- they are not ready to
discuss any timeline or that they are not ready to discuss when these elections could be in their meeting with Mara Corina Machado, and that is
exactly what everybody in Venezuela is waiting for.
Will Donald Trump push towards an actual transition to democracy for that country, or will he consider himself content just by dealing with a little
bit more of a palatable version of Nicolas Maduro himself?
So Mara Corina Machado now going to Washington today, going to Washington, essentially pitching the idea to Donald Trump himself, get the job done, we
want a democratic transition of Venezuela.
If you're already reaping the rewards of a return of Venezuela into the economic area of the Western Hemisphere, imagine what would be the rewards
if indeed Venezuela were to return into the concert of free and democratic nations? We don't know, of course, if Donald Trump will be sympathetic to
those aspirations -- Richard.
QUEST: Stefano in Bogota, Kristen at The White House, I am grateful to you both. Thank you very much.
Now oil prices are down sharply after President Trump appeared to back off his threat of action against Iran, but that really is only telling part of
the story. You see here, the two benchmarks, Brent and WTI, they are down similar amounts more than four percent. Mr. Trump said on Wednesday he was
told the killing would stop in Iran, and that seems to have calmed fears of an immediate U.S. military action. And that, of course, could lead to the
disruption to global oil supplies.
But Anna is with me, Anna Cooban. And when we look, Anna at the oil market, the Venezuela aspect, it is murky and it is very difficult to understand
what is going on.
ANNA COOBAN, CNN BUSINESS AND ECONOMICS REPORTER: Yes, Richard, the past -- we've only been in a few days in 2026 and it has been a completely wild
ride for the global oil market. You mentioned Venezuela just there, but I am going to point you right now to Iran. You see Iran here and you see that
all important Strait of Hormuz just under Iran. It controls part of that waterway through which about a fifth of the global oil supply travels out
every day.
And the fear was that with the U.S. threatening military intervention, that you would get Iran weaponizing this waterway and it would block off, choke
off supply, send prices skyrocketing. That was the fear. And it is not hard to see why, because Iran is a big player in the global oil market. It is
sitting on 200 billion barrels of oil. It is the third biggest or has the third biggest reserves in the world.
But what I found interesting, Richard, is that if you look slightly to the left of this, you've got Venezuela right at the top there with the world's
largest supply of reserves of oil. And yet Venezuela, the ousting of Maduro didn't really move markets all that much, and I will show you this other
shot here.
So Maduro was ousted early January. Yes, oil prices dipped a little. I think traders were thinking there would be more Venezuelan barrels coming
to market, but then the reality set in and oil executives were telling President Trump, look, it is going to be a lot more difficult, a lot more
expensive to upgrade all of this crumbling infrastructure than you assume.
And so actually, the price rises we've seen over the past few days have really been about these escalating tensions with Iran.
QUEST: But it is not a straightforward in terms of the Venezuela aspect. Can you please go through the wider trend in the oil market, because that
is equally troubling.
COOBAN: Yes. Well, let's have a bit of perspective here. Traders are no stranger to geopolitical upsets. Let's go back to 2022 when Russia invaded
Ukraine and we saw oil go above $100.00 a barrel. Since then, you can see it has absolutely tumbled. Last year, it fell by -- prices fell by around a
fifth.
[16:10:08]
And the reason is, quite simply, we have got too much oil. There is a predicted oversupply this year, and I think that shows that yes, traders
they can sort of deal with geopolitical upsets, but it really is the fundamentals, Richard, of supply and demand that seem to be really moving
the market.
QUEST: I am grateful. Thank you very much.
Several European countries are sending troops to Greenland to take part in joint exercises with Denmark. Germany, France, Sweden and others, they are
contributing a handful of personnel. It is a show of support for Denmark as the U.S. seeks control of Greenland and what President Trump is saying is
National Security grounds.
The French President, Emmanuel Macron, said NATO members have a responsibility to do their part.
(BEGIN VIDEO CLIP)
EMMANUEL MACRON, FRENCH PRESIDENT (through translator): In Greenland, an autonomous territory of the Kingdom of Denmark, Europeans have a particular
responsibility because this territory belongs to the European Union and is also one of our NATO allies.
History does not forgive either unpreparedness or weakness. Our Armed Forces and all our forces, including all support services in particular,
are our life insurance.
(END VIDEO CLIP)
QUEST: Now, Sir Peter Westmacott served as British Ambassador to the U.S., France and Turkey. Sir Peter is with me now. Good to see you, sir.
Look, you know, Donald Trump says that Denmark is sending one dog in a sled which is not true, but clearly, whatever they are sending now, these other
countries can be at best token if the U.S. decided to do anything.
PETER WESTMACOTT, FORMER BRITISH AMBASSADOR TO THE U.S., FRANCE AND TURKEY: I think they are a gesture from Denmark's European allies. I think there
are even one or two British people -- British soldiers in that contingent that have gone in on a C-130 to Greenland. This is the main European
players showing that they are keen to show solidarity with Denmark.
QUEST: But are they showing solidarity with Denmark, or are they addressing the issue of the defense of Greenland vis-a-vis China and Russia?
WESTMACOTT: They are far too small a contingent to address the issue of defense. Some of us would say that this issue of the threat to Greenland's
defense from China and Russia has been inflated in order to justify Donald Trump's desire to take possession of the whole island of Greenland.
The fact is that America has got all sorts of military bases in Greenland. It has got an agreement with Denmark that goes back to 1951, where it can
put in all it likes to defend that island, so it doesn't need a big military contingent from the European members of the alliance to defend the
island.
QUEST: But that's not what Donald Trump said. He is not basing it on what it needs, he is going on a much more real estate gut feeling, you've got to
own it. If you don't own it, you don't defend it.
WESTMACOTT: And that is why I am saying that it is not relevant for the Europeans to go and defend the island. This is a gesture of solidarity.
There isn't really a need to defend it. As you say, he wants it for psychological reasons. He says if you don't own it, you don't defend it,
whatever that means.
I mean, it is a rather extraordinary statement. You will have noticed that the British and a lot of the other European governments were careful not to
take sides very strongly over Venezuela, but they did come out very clearly and say Denmark's future is for the Greenlanders and the Danes to decide,
not for the United States to decide/
QUEST: How --
WESTMACOTT: This is a political gesture of support from the European allies for Denmark and Greenland's self-determination.
QUEST: How difficult is it for politicians at the moment? Because they know what they want to do and they know what they should do, but they also don't
want to annoy or piss off the U.S. President and that is an entirely reasonable position to take, bearing in mind the economic damage he can
inflict.
WESTMACOTT: Well, it is really hard for them. It is partly economic damage he can inflict, and we've seen what Donald Trump has done with his tariff
wars.
It is partly that the Europeans still very much need Donald Trump to be in the right place on Ukraine, because they are not confident that he is not
going to flip-flop and do what Vladimir Putin encourages him to do, or take another phone call and change his mind over the solidarity.
So you're right, they do not want to, as you would put it, piss him off. And in many ways it is more effective if you're trying to influence this
President to do it quietly than in public.
QUEST: How do you draw that line privately that says to him, do not do any further? Don't do this, because if you do, we will have to act.
WESTMACOTT: Well, it depends what you mean by we will have to act. You know, what do have we got? What cards have we got to play as Donald Trump
would say? But how do you do it in private? I mean, the answer is that you have to play to the personality. You've got to play to his strengths.
You've got to play to his vanities. Youve got to play to his desire to enrich himself and his friends.
You've got to play to the America First and the America is the strong guy. He divides the world up between three strong guys -- China, Russia and
himself.
[16:15:10]
And the rest of us, in a sense, are also ran. So you've got to understand that and you've got to influence him in private, and when we've talked --
when we've had some impact with him on Ukraine, for example, it is by making him understand that he does not want to be the person in charge of a
complete failure of European security at the hands of Vladimir Putin.
QUEST: Last question, though, which really, if you were advising government, do you think Donald Trump will go for Greenland? I mean, make
some concrete steps? And I don't -- whether it is troops or just having one person go over and stick a flag, do you think he will actually take formal
steps to annex it?
WESTMACOTT: I mean, I would -- I think not, but I don't think this is just, you know, fly by night, a whim. He keeps talking about it. He definitely
wants to get access to the mineral wealth of Greenland for himself and American companies. We should not take that lightly.
Will he invade it militarily the territory of a NATO ally in Europe, which risks destroying the entire alliance? He may not care about it if we asked
him today, but in the longer term he would care about it.
I think there will have to be some other solution short of an American invasion and territorial conquest of Greenland, but I can't quite see what
that is yet.
QUEST: Are you surprised at the failure of the checks and balances? I mean, the system only works if everybody plays their part, and the Republicans in
Congress have not raised what one might have expected is legitimate concerns about the Greenland policy, bearing in mind it could be to the
destruction of NATO.
WESTMACOTT: Republicans in Congress have been supine. They did find a little bit of courage in voting against the President having unlimited
powers in Venezuela, just the other day. But generally speaking, the checks and balances have not functioned. We've seen the politicization of the
Judiciary. We've seen the persecution of journalists.
We've seen generals -- loyal generals, patriots being denigrated by the President. It is a very different sort of America that we are dealing with.
Am I surprised? Not really, because this is, in a sense, what Donald Trump said he was going to do, but it is nevertheless shocking to see the leader
of the free world behaving in this way.
QUEST: I am grateful. Good to see you, sir. Thank you.
WESTMACOTT: Thank you, Richard.
QUEST: Indeed, thank you.
As you and I continue tonight, U.S. strikes are long hoped for a pact with Taiwan previously reluctant to relinquish its semiconductor supremacy.
(COMMERCIAL BREAK)
[16:20:03]
QUEST: Breaking news. Let's go to Washington, where the Venezuelan opposition leader, Maria Corina Machado has met with lawmakers and is now
speaking on the steps of the Capitol.
Well, the best laid plans, it was all in English and quite nice until we actually went to it and then, as you can tell, it turned into a bun fight
and you couldn't understand a word.
But I do assure you, we will return when you can get something sensible and if we don't manage to get it all, you'll hear about it afterwards, I
promise you that.
The U.S. said it has reached a trade deal with Taiwan that will bring chipmaking back to the United States. Under the agreement, the U.S. says
Taiwanese chip and technology companies will invest at least $250 billion in U.S. production. In return, the U.S. will reduce reciprocal tariffs on
Taiwan to 15 percent, that's a five percent reduction.
U.S. Commerce Secretary Howard Lutnick described the deal as being good for the U.S. National Security.
(BEGIN VIDEO CLIP)
HOWARD LUTNICK, U.S. COMMERCE SECRETARY: They want to keep the relationship between our two countries very positive, and this commitment to bring it on
shore. We need semiconductors for our National Security. We need them built in America.
We can't rely on a country that's 9,000 miles away from us to deliver us these kind of fundamental National Security products.
Clare Duffy is with me.
Much of the work was done under the CHIP Act, of course, under the last administration. But this is obviously a major development that does, at
least on the face of it and you'll put me right, secure U.S. domestic production.
CLARE DUFFY, CNN BUSINESS WRITER: Well, Richard. Yes, that's exactly right. This is part of this ongoing project which started under the Biden
administration, is continuing under Trump to secure more U.S. manufacturing capacity for semiconductors.
Most chips are still made in Taiwan and the U.S. leaders see that as a National Security threat, because these chips go into essential
technologies like weapons and infrastructure.
So under this new trade deal, as you said, Taiwanese companies committing to spending $250 billion to expanding their U.S. manufacturing capacity,
that is huge. TSMC, the biggest chipmaker last year, committed to investing $100 billion and expanding its U.S. footprint that was expected to create
about three fabrication plants and this commitment is more than double that.
Now, it is not clear exactly how much of this is coming from TSMC versus other Taiwanese companies, but really significant nonetheless. And Taiwan
is also committing to providing $250 billion in credit to American companies who are looking to expand their semiconductor manufacturing
supply chain here in the U.S.
And of course, for Taiwan, this is a good deal because it lowers their tariff rates. But interestingly, that interview with Commerce Secretary
Howard Lutnick, he also talked about the fact that this allows Taiwan to stay in the good graces of President Trump at a time when we know Taiwan is
facing increased pressure and intimidation from Beijing.
So he really is sort of directly tying Taiwan's ongoing safety and security from the United States to their continuing to commit to U.S. manufacturing
of semiconductors.
QUEST: Clare Duffy, I am grateful. Thank you.
Ukraine's president has declared a state of emergency for the country's energy sector. The energy sector sustained heavy Russian attacks on
critical infrastructure at a time when it is enduring extremely cold weather.
Ukraine's Weather Center forecasts nighttime temperatures approaching minus 20 Celsius this weekend.
CNN's Clare Sebastian reporting on the growing concerns.
(BEGIN VIDEOTAPE)
CLARE SEBASTIAN, CNN CORRESPONDENT (voice over): There's nowhere to hide from the cold in this Kyiv apartment. This is day five without heating for
Katerina Skorigina (ph), day three without power.
KATERINA SKORIGINA, KYIV RESIDENT (through translator): It's very difficult mentally, especially since everything that kept you going before is falling
apart. For example, when there is no electricity, sport keeps me going. I go to the gym which runs on battery power. Yesterday they even canceled the
gym.
SEBASTIAN (voice over): She says in a moment of desperation, she ordered everything she could to stave off the dark and cold. Power banks,
rechargeable candles. They make it cozy, she says.
A Ukrainian clay pot hand warmer, even a heated blanket for her cat, ironically named Pushok or fluffy, a still life of survival in Russia's
escalating war of attrition.
Kyiv has become hardened to attacks on its energy grid, but a huge wave of strikes late last week combined with a severe cold snap took it into
uncharted territory.
[16:25:03]
PETRO PANTELEEV, ACTING FIRST DEPUTY MAYOR OF KYIV (through translator): The decision was made to suspend the heating system in 6,000 buildings.
This is an unprecedented measure in the history of the central heating system.
SEBASTIAN (voice over): On the streets, the rumble of evermore generators, the soundtrack to Ukraine's fourth winter at war.
No one is spared, not even the repair crews working 24 hours a day to bring power back online.
(TERAS MESIYANKA speaking in foreign language.)
SEBASTIAN (voice over): "We do not even know at home whether there is electricity," says Teras Mesiyanka (ph) as he works to fix a damaged cable.
"We are all living in this situation."
Destruction often outpaces repairs for Ukraine's biggest private energy company.
SEBASTIAN (on camera): What happens at DTEK behind-the-scenes when there is a major attack?
OLEKSIY POVOLOTSKIY, HEAD OF ENERGY INFRASTRUCTURE RECOVERY OFFICE, DTEK: Actually, the attack may take just a few minutes, but to recover after the
attack. You need months or even years. So we don't have spare time.
SEBASTIAN (voice over): DTEK power plants have been attacked eight times since October, the company says, a recent strike blowing a hole in the roof
of this one, letting in the snow.
POVOLOTSKIY: This winter maybe because the Russians, they're not progressing on the battlefield, they decided to put Ukraine into a
humanitarian crisis.
SEBASTIAN (voice over): It is a fate Kyiv is racing to avoid. More than 1,300 shelters known as Invincibility Centers have been set up in the
capital for people to charge devices and get warm.
(TAMARA VIKTOROVNA speaking in foreign language.)
SEBASTIAN (voice over): "The lamp hasn't charged for some reason," says Tamara Viktorovna (ph) who is in her 70s. "Everyone here learning survival
skills."
In another heatless apartment across town, Katerina Voronina who is 72 and has trouble walking after hip surgery, is struggling to stay positive.
KATERINA VORONINA, KYIV RESIDENT (through translator): It is scary. Of course, I am holding on. I am not complaining at all. But yesterday, after
the lights went out, I had what you might call an acute stress reaction. I was crying here all by myself. My friend called me, I couldn't stop.
SEBASTIAN (voice over): She says she regularly scrapes off the ice, forming on the inside of her window, and waits.
Clare Sebastian CNN.
(END VIDEOTAPE)
QUEST: The immigration crackdown in Minnesota is hurting local businesses now. Some say their sales have dropped by as much as 80 percent. We will
report on that in just a moment.
(COMMERCIAL BREAK)
[16:30:37]
RICHARD QUEST, CNN INTERNATIONAL ANCHOR: Hello, I'm Richard Quest. We have a lot more QUEST MEANS BUSINESS. I'll be talking to a community leader in
Minneapolis, who says businesses are being hurt by the immigration crackdown, and the chief executive of a company who's making high tech
glasses that adjust to the wearer's eye movements, which is a godsend for those of us who have worn glasses for most of our lives.
We'll only get to those stories after the news headlines because this is CNN and here the news always comes first.
The Venezuelan opposition leader, Maria Corina Machado, met today with President Trump. She later greeted supporters outside the White House and
then headed to Capitol Hill. During her visit, the White House said Mr. Trump still believes Machado lacks enough support in Venezuela to lead the
country.
The White House says all options remain in place in response to Iran's brutal crackdown on protests. President Trump says Iran has given
assurances the killings and executions would stop. A human rights group reports at least 2400 protesters have been killed. Iranians have now spent
a week without internet access.
U.S. prosecutors have charged 26 people for allegedly rigging college and Chinese basketball association games. The scheme allegedly involved a fixer
who would recruit players with a promise of a big payment. Some of the accused players appeared in games this week. The allegations dated from
previous seasons.
Speaking on the steps of the U.S. Capitol moments ago, the Venezuelan opposition leader, Maria Corina Machado, said she presented President Trump
with her Nobel Peace Prize.
(BEGIN VIDEO CLIP)
MARIA CORINA MACHADO, VENEZUELAN OPPOSITION LEADER: I presented the president of the United States the medal of the Nobel Peace Prize and I
told him this. Listen to this. 200 years ago, General Lafayette gave Simon Bolivar a medal with George Washington's face on it. Bolivar since then
kept that medal for the rest of his life. Actually, when you see his portraits, you can see the medal there.
And it was given by General Lafayette as a sign of the brotherhood between the United States, people of the United States and the people of Venezuela
in their fight for freedom against tyranny. And 200 years in history the people of Bolivar are giving back to the heir of Washington a medal, in
this case the medal of the Nobel Peace Prize as a recognition for his unique commitment with our freedom.
(END VIDEO CLIP)
QUEST: Now Kristen is back with me.
Thank you for sort of scurrying out and coming back to talk to me. So this business of the Nobel Prize, is the White House saying anything about it?
Because we know officially, I mean, she can give away the medal if she wants to, but she can't transfer the prize to him. So what's the White
House's understanding?
KRISTEN HOLMES, CNN SENIOR WHITE HOUSE CORRESPONDENT: They haven't talked about this yet. President Trump is currently speaking at an event for a
sporting event for some champions that his Cabinet is attending. He has not mentioned this yet, at least hadn't as soon as I came out here. It's
unclear, but it does sound like from what she was saying that he accepted the medal.
I mean, one of the things to keep in mind here is that President Trump has repeatedly said that he believes no one deserves the Nobel Peace Prize more
than him, but there are a lot of complications here. The Nobel Peace Prize Commission has said that this is a non-transferrable prize, so it doesn't
really -- we don't really know what this means. One thing is clear. She heard him when he said repeatedly that he believed he deserved that medal.
[16:35:06]
And when he was asked just a few days ago if this would change his opinion of her, if she was to actually give him this medal, he deflected. He didn't
answer. He said he would have to talk to her, but from what she said, it sounds as though not only did she give the medal, but that he accepted it
as well.
QUEST: Right.
HOLMES: Again, unclear what that actually means in terms of the Nobel Peace Prize. That was something that was given to Machado for her work as leading
the opposition. So we still have a lot of questions here.
QUEST: Now on this question of why the administration will not give backing to Machado, I don't think, I mean, some people are saying it's because of
the Peace Prize, but I'm guessing it's more likely to be because they would not be able to control it in the same way Machado as they can with
Rodriguez. Rodriguez stays in power as long as she continues to do what the U.S. president wants.
HOLMES: Yes and no. I think there's a couple of things going on here, Richard. One of them is the fact that they do believe that it was too quick
to do a complete government turnover after capturing Maduro. That part of what they wanted to achieve was administrative stability. And there was --
it would be much more difficult to install a completely new government to hold elections right away.
And there was a fear within the administration that the entire country would collapse. And the idea of some kind of consistency when it came to
the administration would lead to stability in the region, which would allow them to do what they needed to do. Now, one of the things that you'll note
with Rodriguez in power here, and of course, we heard President Trump talking about how Delcy Rodriguez is great to work with, he said she was a
terrific person, but there's also an entire fleet of military ships off the coast of Venezuela.
We know that they are using the pressure on the military. They are using the economy and the leverage that they have in terms of sanctions. All of
that to try and pressure Rodriguez. So part of it is about the fact that they know they can control the situation, but also trying to keep that
stability so they can get what they need to get done.
QUEST: I'm grateful. Thank you for coming out and putting it into perspective. We'll hear more from the White House of course in the hours
ahead on the Peace Prize,
And we'll be on the streets of Minneapolis after this break.
(COMMERCIAL BREAK)
[16:40:10]
QUEST: To Minnesota now where President Trump is threatening to invoke the Insurrection Act in response to the protests against his immigration
crackdown. It's a centuries old law. It allows the deployment of troops within the United States in certain situations. Deployments that would
otherwise be illegal.
It comes after a night of heated clashes in Minneapolis that were sparked by another shooting involving a federal immigration agent. A Venezuelan
national was shot in the leg. The Department of Homeland Security says the man assaulted an officer after resisting arrest.
Julia Vargas Jones is in Minneapolis.
This idea, well, you're obviously in a heated area with the protests. How - - what's the mood like? Is it settling down or does it continually flash out?
JULIA VARGAS JONES, CNN CORRESPONDENT: It's the flash outs, Richard. We've seen, you know, this time and again with protests like this. It will --
we'll see a little burst of activity. Why? We're outside a federal building. This is the Whipple Federal Building. There are federal agents
going in and out of here. We're seeing some units coming out right now. You may see an example of this now. Maybe not.
But basically every time we see agents out and they're all coming out with their faces covered, there is a response from the crowd. We're seeing now
some of them coming out with the sirens on. Moments ago, there were blaring some kind of announcement that was rather inaudible to these protesters.
And then, Richard, right here, where you see the water on the ground right here. This was a truck that came in, an SUV that came in and put water on
the ground to make ICE for the vehicles to slip as they're coming out of this. So, you know, it's that kind of mood, Richard. You know, we've talked
about the reaction from local authorities here, both the mayor and the governor, the mayor of Minneapolis and the governor of Minnesota, speaking
about, you know, maintaining the peace, staying peaceful there. Democrats saying don't give in to this kind of rhetoric. Right?
QUEST: Right. But --
JONES: And some people in this very protest are repeating that message is what I would say.
QUEST: Right. OK. So, Julia, how significant, how important is it for the protesters, for the Democrats there, that they do not, that Trump does not
use the Insurrection Act? And do be careful.
JONES: Extremely important. That would only inflame, that would only inflame the tensions here, Richard. Every time there is -- every time we
see these agents coming out, there is an inflammation of tensions. I can only imagine what troops on the ground would do to this kind of crowd
that's already very much on edge.
Now they have been peaceful, but there is so much anger, there's so much frustration here. And honestly, outrage at the --
QUEST: Right.
JONES: You have bruises. We're having people here saying that they have been here for a while and been shot with some of these projectiles that are
being -- by the federal agents. You know, this is what -- OK, someone just spat into one of these federal agents there, Richard.
Look, this is the most heated that we've seen the scene get today. As you very well know, night and day, completely different scenes.
QUEST: Yes.
JONES: We saw what happened last night. It could very well repeat itself today. Until now, it's been relatively calm, but we're seeing signs here of
tensions escalating, Richard.
QUEST: Take care, please, Julia. Keep an eye on things. I'm grateful for you for being there for us today. Thank you.
Let's stay in Minneapolis. Shops and restaurants are saying the immigration crackdown in Minnesota is bad for business. Now that might be a statement
of the bleeding obvious, but when you see these numbers, some reports sales have dropped 50 percent to 80 percent. And that's a particular problem for
businesses supported by the Latino community.
The owner of a Mexican restaurant in Saint Paul says the immigration officers are scaring off both customers and workers. Target has also become
a flashpoint. Two employees were recently arrested at a location in Richfield, Minnesota.
Russ Adams is the manager of the Corridor Recovery Initiatives at Lake Street Council. He's with me now.
You know, the fascinating part, just as I was reading that, I realized it's the reason why the business is down. Is it -- because is it just that it's,
you know, you have all these immigration officers on the street, the mood is ugly, people just don't want to go out and go shopping or spending?
[16:45:08]
RUSS ADAMS, CORRIDOR RECOVERY INITIATIVES MANAGER, LAKE STREET COUNCIL: Yes, I think that's right, Richard. And by the way, thanks for bringing
attention to the situation in Minneapolis. I think there's a climate of fear. There's a climate of intimidation that has an impact not just on
folks who are non-citizens, but also citizens. We've seen people pulled out of their cars and assaulted.
We've seen ICE officers putting a knee on someone's neck in the process of an arrest. That echoes what happened with George Floyd six years ago. I
want to say that most of the folks who are protesting, if not all, have been largely nonviolent. There are provocations, there's no question about
that. Tensions are really high. But it's unbelievable the restraint and self-regulation that these groups, these crowds have demonstrated in the
face of, you know, outright provocation and aggressive tactics.
QUEST: Right. And there's also the aspect that many employees, many legitimate and undocumented, are not wanting to go to work because they
fear a raid. They fear being swept up. And that's having its own implications for businesses. Please tell me more about that.
ADAMS: Yes, that's right. We're getting reports that businesses are understaffed. People are pulling double shifts. You know, we are putting
out a message that if you're concerned about what's happening in your community, if you're mad about this policy and we can differ on immigration
policy, but if you're upset about it, one of the best things, easiest things you can do is come to cultural corridors like Lake Street and shop
and dine, and go to the entertainment venues, and support those local businesses that drive and generate revenue for our local economy.
QUEST: Right.
ADAMS: Those figures you mentioned are monthly revenue figures. We have all of this number in because this started on December 1st.
QUEST: Is there anything that shopkeepers, that merchants can do? You know, if it's firstly a question of personal security and safety and then it's a
question of simply a lack of atmosphere and who wants to go shopping in these environments, there's not much -- I mean, you can cut the prices, but
my guess is that they're already margins are thin, so there's not a lot you can do.
ADAMS: Yes, I think that's right. You know, they've had to self-educate themselves.
QUEST: Right.
ADAMS: We help. But on what the Fourth Amendment says about the right against illegal searches and seizures, they put up signs that say ICE is
not welcome inside the building, you cannot enter. You know, their parking lots have been used as staging areas. You know, the stark contrast to the
report you just had out at the Whipple Building. And as loud as that was and all the energy there, it's different on Lake Street. It's a lot quieter
when ICE isn't there.
QUEST: Right.
ADAMS: We have businesses that are open, some are closed, but nobody is -- none of our business owners are being aggressive towards ICE. We're not
provoking anything. They're just trying to make a living.
QUEST: I'm grateful to you, sir. Thank you. We will follow this more closely in a sense that because as the year moves on, we'll want to see
that your members and your merchants are recovering. Thank you.
QUEST MEANS BUSINESS, in a moment. Now, I just bought these glasses. They're mine. But look at these. These are rather splendid. They are --
well, they've got no lenses in at the moment. I rather like that. But they're a particular type of glasses. They put my bifocals to shame. These
glasses, when they have the right lenses, will autofocus. I'll explain in a moment.
(COMMERCIAL BREAK)
[16:51:44]
QUEST: I've worn spectacles or glasses since I was 11 years old. Over the years I've been through rimless, silver, bronze, every type you can
possibly imagine. I've gone through enormous number of pairs, but it's always an adjustment when I switched to bifocals. So when I'm looking at
the camera and I'm looking at you, I -- to read the prompter, I have to sort of get my eyes in exactly the right position on the very vocal
otherwise I'm seeing in the wrong place and I can't read it. You get the idea.
The Finnish eyewear company IXI is aiming to solve the problem of bifocals. So here they are. Oh, don't worry, there's no lenses in them. They are
autofocus glasses. They have eye tracking sensors and the liquid crystals in the lenses. So they adjust the focus based on what the wearer is looking
at.
Niko Eiden Aden is the chief executive of IXI, and he's with me now.
This is -- this is fascinating. Explain, please. Explain how it does it or what it does.
NIKO EIDEN, IXI CEO: Yes. Thanks, Richard. The idea is quite simple. So we have the eye tracker, as you mentioned. And we have basically a vector of
both eyes. So we know the direction of the eyes. When you look at the close distance your eyes converge. And that's how we know the distance. And once
we know the distance that you're looking at somewhere that is in close proximity, we turn on a liquid crystal lens and provide you the reading
power. And again, when you look far, it goes away. So the analogy is exactly the same as with autofocus cameras.
QUEST: How quickly can it make that adjustment? Now again, I don't think you can see me, but I'm going up and down. And my eyes are adjusting almost
instantaneously. How quickly can this thing, the liquid crystal change?
EIDEN: You actually think that your eyes are fast, but it takes roughly 200 to 300 milliseconds to focus with your eyes.
QUEST: Right.
EIDEN: We need kind of a cup, maybe 20 or 30 milliseconds to calculate the distance. And while you're focusing, we can turn on the lens and turning on
the lens, turning off the lens current -- with the current technology that we have is roughly 100 milliseconds in room temperature. So it's super
fast.
QUEST: The ability of the lens to adjust, now my lenses, for example, they're pretty fixed. You know, they've been cast and that's the end of it.
EIDEN: Yes.
QUEST: But I imagine, since this is a moveable feast, it can be tweaked, it can be amended. I mean, you tell me. The opportunity for personalizing and
continuing to change must be quite considerable.
EIDEN: Yes. It's, I mean, the future feels quite fantastic. We'll start a bit simpler. So we'll start with combination of fixed power and then the
liquid crystal lens that provides then the reading power.
QUEST: Right.
EIDEN: But going forward, there's nothing preventing us. You walk into a shop, you pick your pair of glasses, and then on the mobile application,
you tune in your power and you walk away. Or if your eyes change, you can also change the optical power afterwards to a different power. Or we could
even detect whether you're able to focus in the evening when your eyes get tired and provide you some additional power. So it's actually quite mind
blowing what you can do with these.
[16:55:04]
QUEST: So my reservation is, it's all very clever, but it can also go wrong. Now, the only thing that can really happen to my glasses is I sit on
them, I step on them and I break them. But these, I mean, the reliability has to be quite high bearing in mind the complexity of the task which it's
completing. And if it goes wrong, it goes wrong.
EIDEN: Yes. That's a good point. So as I said, we're combining it with static prescription to see far. So if you're driving with a car and
something goes wrong you have that static traditional prescription. And then if the things break you won't have reading power. But hey, that's what
happens anyway if you're using reading glasses, you'll never find them anyway.
QUEST: That's absolutely true. Tell me, so the popularity, what happens next with these glasses?
EIDEN: Well, we've been researching, doing fundamental research on the idea now for four and a half years, and we are now finalizing.
QUEST: Right.
EIDEN: So it's super nice as a startup to have new a new set of challenges. And in the near term we'll be finalizing and hopefully we'll get them
certified and bring them to the shops as fast as possible.
QUEST: Yes, and my producer rightly screamed in my ear, ask him how much they cost. Go on, sir. Do you have a rough ballpark figure?
EIDEN: It's going to be on the high end traditional eyewear pricing, so if you buy very good bifocals that's roughly the price point we're aiming at.
Nothing --
QUEST: Right. So you can't really make it --
EIDEN: Nothing in the product that you are holding in your hand is -- yes. There's nothing that special. It's all in the combination of how we built
it.
QUEST: Right.
EIDEN: And then the software side as a combination.
QUEST: And I'll make it clear, I will be paying full price. Full price, sir. But when you're manufacturing and you're selling, I'd like to try them
out. So -- but you've got to say this because the viewer will, our dear viewers are quite sure I'm going to get a freebie. No. Full price, sir.
Full price.
"Profitable Moment" is next. QUEST MEANS BUSINESS. Thank you for joining us.
(COMMERCIAL BREAK)
QUEST: Tonight's "Profitable Moment." So it appears that the opposition leader Machado did give her Nobel medal, if you will, to Donald Trump. You
can't actually give away the prize. It's not transferable.
So Donald Trump now has a Nobel medal. He doesn't have the prize. And I'm wondering if it's still going to be a never ending litany every time of him
telling us nobody deserves it more than me. I'm guessing he will.
And that's QUEST MEANS BUSINESS for tonight. I'm Richard Quest in London. Whatever you're up to in the hours ahead, I hope it's profitable. And join
me please next week. We're in Davos.
END
