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tv   Boom Bust  RT  October 26, 2018 5:30am-6:00am EDT

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phone updates was first reported late twenty seventeen the company claimed the slowdowns were an unintended side effect of optimizing battery life regulators say samsung also failed to warn their customers that installing an update for their note seven device on the note for model could cause the device to crash. the white house is still taking a hard line on even beginning trade talks with china at the g twenty summit in buenos aires next month treasury dept deputy secretary under its deputy treasury secretary david malpass has reportedly seconded the white house's message to his chinese counterparts that the u.s. will not begin to negotiate in buenos aires unless china's delegation first tables they first offer a written proffer a formal one chinese official say they prefer more discussions before both sides table proposals mr trump's flighty persona and chaotic management style have become an issue in the diplomatic dance as the chinese say u.s. negotiators have accepted more than one chinese offer only to be overruled by the
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u.s. president on the u.s. side officials are said to fear that chinese will do a lay then push for concessions in personal talks between chinese president xi jinping and mr trump while china and the u.s. continue to untangle in a tariff tug of war some other prominent members of the world trade organization are meeting in canada and hopes are preform in the global trade system artie's alex a hell of it isn't around to where he's been following the meeting alex is just remarkable to me i mean the meeting is taking place there and the u.s. and canada are not part of it may want to keep the kids out of the same playground or what's going on give us the latest ok there is a part of it i know that was just a little bit of a slip china in the u.s. are not at all right thanks. canada has to be here since it's in kid it is just a week we couldn't avoid the thing but listen these are the countries are going to give you a rundown of the countries that are attending we have thirteen here is australia brazil canada show. they european union japan kenya south korea mexico new zealand
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norway singapore and switzerland as you can see that's a pretty diverse group of countries coming from different parts of the world with very different economic backgrounds so even something like kenya is playing the same game as singapore and japan so there's good reason for this they wanted a diverse group of countries together but that are like thinking countries that need the w t o countries that believe the w t o is something that we need in the future when we're dealing with trade now that if you look at it was developed from the gad agreement to change over to w c o back in the one nine hundred ninety five ish and at that time basically what this organization is about is helping countries that have smaller economies and growing economies it's not necessarily for the big guys only so that's a very important part of the manties now some of the changes that we want to see or why i should say that the countries participating want to see coming in the near future is first of all just a change of the system and here's a quote from
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a canadian international trade diversification minister jim carr he says this system is better than no system but we have to improve it so we're having the first step of of a very long or longer a conversation now as he mentions it's not ideal right now in a lot of countries are a little bit taken aback by the but they want to make the necessary changes moving into the future and those changes include improving the efficiency and effectiveness of the monitoring function of the w t o which means they want more transparency and what the w.t. actually does they want people to know citizens of the world as well as governments of the world also modernize the trade rules which makes all the sense in the world for the twenty first century and here's a big safeguarding and strengthening the dispute settlement system now this is one that's often controversial the dispute that system that settlement system is often overburdened too many countries going you know taking each other to the w t o to the dispute mechanism there their hope. that they can see sort of with all this
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down that disputes can be taken care of outside of the realm of the w.c. oh and just basically to stop overburdening that system now all that said one hundred sixty four members are in the what these countries that are here meeting what they're hoping to do is take whatever they write down on paper and push that forward to a meeting that you're talking about and that is the meeting down in argentina so the they want to take this information and hopefully get everybody else to sign off on it or to agree on it once they come to the summit alex it's a really interesting and i still just to wonder what you know the u.s. and china aren't there i guess they want to keep them apart and we'll be talking more about those ongoing negotiations but we appreciate you covering what's going on up in canada and canada and in ottawa r.t. correspondent alex mahela bitch thanks alex thank you. tesla mortar corp has posted their first quarterly profit sense twenty sixth saying the
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car company says they cleared three hundred twelve twelve million dollars in profit for q three of twenty eighteen on six point eight billion dollars of revenue tesla clearly hoping to get some points on the board and burying recent unfavorable headlines move the earnings report announcement forward by two whole weeks tesla's stock price jumped almost thirty percent on the report in trading after yesterday's closing bell and the longer term tesla watchers will keep an eye on tesla's production goals tesla has supposedly finally met their weekly goal of moving five thousand cars off tesla is assembly line in september but many observers are asking if that rate is sustainable. and now we look at more earnings reports and some companies with john grace the founder and president of the best years advantage corporation john welcome back we're at the really honored you spend some more time with us today. always good to be with you bart so let's start with the planes and trains and let's start actually first with planes of american airlines
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how did they do today well third quarter profits are off forty eight percent probably mostly due to fuel costs being up forty two percent compared to exactly one year ago and how about union pacific we talked not long ago with on c s x but how about union specific how did they do john tops their earnings and revenues expectations so they're in a green light so far and when you look john at american or union pacific either of those you know trans auto and transportation's sectors or either of those sort of buy stocks in europe you at this point. well i mean they might be for the short term but i'm always going to say you know enjoy the turn as you prepare for the downturn so there's no place to hide here no place to be complacent and look for all trees to grow to the sky so yeah enjoy the gains but be prepared for the losses
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and some of these airlines delta reported last week and delta had profits even despite those higher fuel costs that you spoke about although the oil costs have gone down in the last couple of weeks here but they made money supposedly off the higher ticket and baggage fees except let's move away from transportation a little john i know grub hub the food delivery e-commerce site reported today what's up with them. well their stock fell as a result of third quarter results they did beat estimates but they're investing in expansion so they'll probably be ok and are there any big grub hub is one but there's others out there are these generally stocks that you think you know we should be looking at i mean they're there e-commerce the retail right so they're they're sort of new edge from that perspective but it's all about food i mean do you think those are things for people to look at well people are always going to need to eat food no question about that but i think it's helpful to look at like
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the i.m.f. just meeting last week after a six point four earthquake the indonesian president saying that winter is coming and as i'm sure you saw christine legarde saying g.d.p. is probably has peaked it's going to be in decline so it's helpful to see around the corner you know like the g.p.s. on your car says objects in the road it's really helpful to see those things well in advance as opposed to as they say just throw the dart and hope you're going to go to heaven after you make all these profits well we need those objects on the road to be larger like the mirror is saying that's why we have experts on like you john who can try to bring those into focus for us finally john let's go telecom verizon reported today what's up with them. growth cost cutting no roll out of the five g. let's recognize that they're kind of like the last line of old companies that hasn't changed and they're not doing any market deals in the works so they're
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sticking to their knitting and trying to become as efficient as possible i noticed john that they actually took some of the a t. and t. customers are really talking about that a little bit later with holland cook on the program but it a lot of these technology companies they've been doing really well over the last few years but texan general which have of course been the darling maybe not so much anymore is that your general thought also well i'm ugly little bit cautious bard i mean this feels real similar to me to ninety nine two thousand at that time as you recall everything was dot com ok this time i was just talking to a friend here at the conference at the irrational exuberance conference and he says he saw a company that a t. company that changed their name to you know breitbart or to block the yeah yeah that's it thank you so you know you put a crypto currency on your name like we did dot com back in two thousand the stock
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goes through the roof but nothing changed fundamentally that's what we need to look for what's changing fundamentally and we've got to recognize that the demographics just keeps chugging along and peak spending in spite of everything happens in america around fifty one we have the boomers twenty four percent of the population fifty four to seventy two so you know the company is going to have to become more and more innovative and that happens in a recession by the way more than a dozen expansion but it just means that you know when spending happens there's not a whole lot you can do when the kids are gone and your dear need to spend just isn't at the level it was before exactly appreciate your time from separate away from the conference john gray is the founder and president of investors advantage corporation thanks for insight john. and it's time now for a quick break but stay with us because when we return we consider problem once bitcoin and we're just talking about walking with john it's been a decade what is
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a future hold we'll talk with christiane counterpart x. and the host of the big picture hollowing cook does join us to talk about eighteen and netflix to the mit some of the growing pains from both companies and later we talk about women in business all the time here but we have one story to tell about one woman who broke the mold as we go to break here are the numbers at the closing bell we'll be back in a flash. kind of financial survival john today was all about money laundering first to visit this issue this week different. oh good this is a good start well we have our three banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all of
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these banks are complicit in the congress to decide to give mccomas a journey to do some serious money laundering ok let's see how we did well we've got a nice luxury watch for max and for stacy oh beautiful jewelry and how about. luxury item bill for max you know what money laundering is highly. geared for a bunch of guys record. tracking gave americans a lot of job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a teacher or i could make fifty thousand dollars a year truck so i chose to drive truck people rush to a small town in north dakota was an unemployment rate of zero percent like the gold rush is very very similar to a gold rush but this beautiful story ended with pollution and devastation a lot of people have left here i don't know too many people here anymore just slow
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down for much they lost their jobs got laid off the american dream is changing that's not what it used to be. and it's a tough reality to. show it's seemed wrong. when all we're all just all. get to stamp out this thing to come to educate and engage with equals betrayal. when something find themselves worlds apart when you choose to look for common ground. the priest who raped me when i was fourteen years of age was known to be a sexual abuser when he was ordained a priest and the church knew about his offending behavior and they were going to continue to abuse from these ordination and right through his entire career as
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a priest. welcome back the attorney general of new york has sued exxon corp an alleged exxon misled investors on the threat of climate change to corporate profit the suit brought under the power of new york state's martin adequate alleges that exxon management including former trump secretary of state rex tillerson ran two sets of accounting figures one for investors and one for corporate management on financial risks to the company from climate change caused by the use of exxon's products the
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suits resulted from an investigation started by the new york a.g. in twenty fifteen into what oil companies knew and when with regard to climate change this current exchange commission started a similar probe at the time but closed it without taking action exxon spell oil giants chevron british petroleum and royal dutch shell also face lawsuits over climate change caused by use of their product. officials in wales have made a historic decision to leave coal c o l in the ground in the wake of the united nations warning we told you about last week that humanity has twelve years to prevent the most catastrophic impact of climate change whales new policy is set to be finalized by the end of the you. there will be to deny all future applications to mine wells call barring quote wholly exceptional circumstances the two coal mines currently operating in wales will be allowed to run out their existing contracts with one of them already scheduled to be closed and twenty twenty one
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mining is once a large them pour in wales and is deeply embedded in the history and culture of the area going as far back as pre roman iron age in more recent times the famed big pick coal mine began operations back in eighteen eighty but closed down in one thousand eight hundred years after the van was tapped out. amazon and the lesser known plan to our technologies are under fire for their lucrative relations with immigration and customs enforcement or ice under the trump administration a report from a coalition including the group's made a i calls the two tech companies quote the backbone for the federal government's immigration and law enforcement dragnet researchers commissioned by the coalition examined lobbying records contracts and other documents and found that both amazon and plantar have generated political support for isis expanding role in pivotal critical technology tools for ice to ramp up operations including recent family separations the researchers pointed out that ice is cabinet department homeland
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security is expected to migrate their massive trouble biometric and other data to immigrants to a cloud platform within two years amazon has beaten out rivals including sales force oracle i.b.m. adobe and microsoft to garner the greatest share of cloud contracts with homeland security. it's been a decade ten years since bitcoin and block chain bust onto the same today we take a look at where the technology and crypto started where they are not just today but maybe go in with our friend co-founder of counterpart x. kristie i welcome back good to have you here. we love having you in boston helping us and then you're here telling us not too long ago about how to actually buy crypto we really appreciate your time kristie so let's go back way back machine in
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kryptos and you know it was bitcoin and it was watching how did it all start while to talk about how it all started when you talk about what actually inspired the creation of decline so this is back all the way in two thousand and eight when the financial crisis was in full swing and then you had in september you had the fourth largest investment bank lehman brothers holdings filed for chapter eleven bankruptcy. and so as the entire financial infrastructure of the world was crumbling you have or register officially as a domain name and then shortly after that an anonymous white paper under a motto was published detailing about a bit coin a crypto currency that what supplement and improve the current failings of the monetary system so what this white paper actually said was that decline in a nutshell would be a peer to peer electronic payment system where two people can seamlessly transact and settle and send and receive money with very little transaction fee in very little time this entire process would be a borderless currency and the main
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a feature of this would be that there is no centralized authority over this and this was the key because at the time the central authority in the us a big investment bank went down paper money government backed currency will be worthless he detailed out in this paper that this system as long as there are members in the system this is a must would continue to operate because the members would maintain the system and maintain the network there by making it be centralized and distributed so this was the entire vision and so we believe that it was because of this climate in two thousand and eight that i was actually inspired and created it almost when you read the white paper and i have to admit i didn't do it for a couple years after it was out but was almost. eerily eloquent i mean how it described everything and it made so much sense and knows of us who you know i was a regulator in the financial industry with the participants were just yeah there's got to be something else and this was offered but the really my question now is
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when does the rubber hit the road what things we know bitcoin has taken off but what things are actually using blog chain we've talked about a bunch of things real estate. where people making money with blog chain mail yes so every single thing where you have transaction and you have multiple ownerships those are all industries that block chain can potentially just. my i think one industry that a lot of people are looking at is the concept of a digital identity a digital footprint because we all have like our driver's license and passed by that maintains our physical identity but who are you online on amazon and e bay have stars to down down though if you're a good seller are bad seller but what about all the people making threats or cyber bullying are people and creating scans of fake accounts those people if these actions were revealed to the public and these actions were tied to a single digital identity that separate from the physical i don't see a bad actors from the internet space as we know it so i can't we can't leave this without saying just be quick if you can where do we go from here what do you see in
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the future other than counterpart x. and other things but what do you think briefly is the future i think that right now tokenize ation tokenization of everything of the current stocks of entities real estate and real property excellent christie i have counterpart and couldn't agree with you more we'll have you back again if you're willing we sure appreciate it thanks christy absolutely. and we now take a look at netflix an eighteen t. which appear to be having some growing pains to do so we are joined by veteran media consultant and host of the big picture right here in our two year america holland cook holland welcome good to be here commish ok so let's start with netflix and we've spoken about them before holland but they took a hard hit on stocks yesterday down about four point four percent rather and some are concerned that the company does not have the actual bandwidth to deal with the interest of paid growth what do you think well netflix is down obviously the whole
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market is down we've been in correction territory and you've been reporting on how the tech sector has taken a hit look at amazon wobbling around there the problem with netflix is it was probably high to begin with there's a lot of air under that stock price and to stay high they're caught in a vicious cycle they're spending ten million dollars. per episode on the crown they spent a king's ransom filming the break through house of cards series before kevin spacey is disgrace and they get the money to produce this original programming in debt and they get the debt because they're signing up new members seven million in the last quarter how long can that go on what they have to focus on is international it's already most of their business fifty seven percent of netflix members are nine usa and their big push right now is india they're producing hindi language programming and original programming there they're testing price points and there's an awful
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lot of upside there because they may be in a dog fight here in the usa with all the over the top t.v. competitors there are a lot and i didn't know about what they were doing india thank you so much so much for that so i spoke earlier with john gray's arisan and i know that verizon is taking some of the share of a t.n.t. but we also bought a t.n.t. was on a pretty good guide path but now some people are questioning their future what do you make of that they have been up up up up up and they just took a hit in a couple of places for rise and is stealing a lot of their wireless business and you know what it's like bart every day in the mail i get a credit card solicitation they're stealing each other's balances also a.t.m. t.'s tablet action is way down and i think at this point it's safe to pronounce i pad the winner in the tablet wars direct t.v. which is owned by t.n.t.
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is under siege from netflix and hulu and amazon and some of the other o.t. t.v. and hers if you watch the world series games you'll see that you tube t.v. is a major sponsor and to its credit a t.n.t. was already trying to grow beyond just being the pipe they went out and bought time warner which gives them h.b.o. c.n.n. and a bunch of other content so it is a buyer's market now because this clash of the giants is testing all kinds of price points and skinny bundles and it's going to take a while that shakes out. hala just real quick what we're thought about tim cook apple's c.e.o. talking about weaponize ing a data well it has been weaponized all along it's just on steroids now back when don draper and the mad men were buying mailing lists they were targeting your behavior and remember that when something is free you are the product so we call on facebook and we don't read that whole page of terms we just check accept
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and suddenly they own everything about us and hackers are going on facebook and testing our passwords based on your pet's name etc they're so tim cook is right and we've got to get less lazy about the volunteer and personal data it's a complicated issue that one that sent burna dinos shooters i phone was captured apple refused to crack it because they are zealous about privacy. holland thank you so much for your time halakhah coast of the big picture thank you go sox. and this week we discussed the growing role of women in business but today we know the passing of another another woman that was really important we go with wanda ferragamo a remarkable woman in business business the widow of fame shoemaker salvatore ferragamo ship passed away at her villa in florence florence rather in italy when
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her husband died in one nine hundred sixty ms ferragamo was thirty eight years old she never worked outside the home but she resolved she said to keep alive all the efforts that her husband had made with help over six children the youngest was two at the time wanted for gomo succeeded in building a glamorous shoemaker into a global full on full service fashion line we think that she is a good example for women not just now but in the future and that's it for now thanks for watching we'll see you next time.
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prosecution. result. where you push us off the thread you'll find somebody numb on purpose you do i mean yeah i mean i mean did out political pressure on that bill do i need him on cold cold to know through security dentistry knows when to pull your bundled up business models he was my american corporations jadhav wasn't completely sold on couldn't matilda's it as he lp use the controls on the scene and the solution.
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lies up in a situation. i noticed when he saw small dogs it is just simply his ability to maintain an investigative documentary. ghost war on oxy. dr almost two years of office many still question whether donald trump has a coherent foreign policy the same cannot be said about the president's national security adviser john bolton when you think of bolton the words subtlety and diplomacy don't come to mind so is there no bolton dr. zia says hadan kentucky. boys says he was very funny using.
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a co money since he was almost no coal mines left. the jobs are gone all the coal miners have said. that it was a lot of these people the survivors of disappearing before their eyes. i remember thinking when i was younger that if anything ever happened to the coal mines here that it would become a ghost town but i never thought in a million years i would see that and it's happened it's happened to. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics sports business i'm showbusiness i'll see if it. the
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lead the. headline. with donald trump trade was showing no sign of abating old photos japan and china making the best of a bad situation by several new economic deals. italy says it uses to revise its budget which was rejected by brussels to make the point more vividly.

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