tv Boom Bust RT March 13, 2019 4:30am-5:01am EDT
attorney general geoffrey cox to find in writing that mr junkers concession did not provide internationally lawful means for the u.k. to eventually dispense with the work around with time winding down the timing and content of ms mr cox the statements were perfectly disastrous for ms may is angered ms may's efforts angering bricks at lawmakers and seeming to make today's results almost a little and for more on the late breaking news we are pleased to be joined once again by the c.e.o. of strong marco reus ford which hillary we know that you were just judge just doing this because i was looking as we were coming to air that the vote really just happened a few minutes ago and it got clobbered but tell us the latest give us some texture hillary well pleasure to be had bought and you're absolutely right clobbered is the right word one hundred forty nine votes and sure that it was a defeat and no one was surprised by that really a toll the markets held steady actually the footsie now of course is surging on
this news now as you mentioned we move ahead to the next vote to the next though it's going to be tomorrow and that vote is going to be on a no deal or not is it going to be allowed is a no deal going to be allowed so that's tomorrow wednesday and then on thursday we go to the delay or not so tomorrow if this if no deal is ruled out in other words if no deal is not allowed that will change things for thursday because of course you know if it's ruled out then we have to have a delay so and i was watching you know i didn't catch all of it but the opposition labor party leader jeremy corbyn was saying look you know the prime minister ms mae has run out the clock kerry almost acted like it was intentional without a good deal and we really want our deal which she gave a few points on we want that up but if we're not going to get it that way maybe we should have a general election to see who's going to run the government what you make of that.
well yes of course he says that because guess who he wants to be wants to be in power that would be himself of course he would say that right bout but a couple of things a threesome may cannot be actually ousted by the party her party the tory party until next december she does have the ability to call for a general election what she said today though after the vote is she is going to adhere to the will of palm and of course she's very much weakened everybody has known that her party has been split so i think still there is a lot of trepidation about germy corbin they of course the labor party wants to remain and he of course is a declared obviously soche socialist and that doesn't go over well with business at all businesses of course are sick and tired of these delays the turmoil the uncertainty and the billions of of pounds and time that has been spent dealing in a sort of no deal scenario the the delay scenarios all the different scenarios that businesses have to sensibly plan for most of the common you fracturing sector has
actually fed well because they've stockpiled so extensively and so has everybody been able to do except for of course the for the fresh food fresh food products hillary we want to have you back later in the we can we can on this thing to you because as you say there's more votes coming up in all of those are pretty important you're a former c.e.o. mark thank you so much you'll be sure be with us as always treasure. and once more chinese telecom giant wall way is in the news this time because u.s. diplomats are thrusting conditions upon our allies here are the stories our two producer michelle greenspan michelle thank you for being with us we love having you on the show this is sort of a troubling story i read it has to do with germany but maybe there's often a riff occasions give us the latest right so as you know administration has essentially been lobbying a lot of our allies to essentially ban huawei from the development of their five g. intersection it isn't just the five g. that they want to bet that it's not it's not necessarily the phones is it
a new play it is not the phone and it's verified you wireless infrastructure as you know five g. is like the next generation of wireless infrastructure billions of billions of dollars here the top one hundred administration right now is warning germany not to allow huawei to participate in building this network they say that if they don't comply the u.s. is going to restrict the intelligence sharing between the two countries so the u.s. is going to stop sharing intelligence with germany at least at the same level and with the same degree of transparency as before now uncle merkel today actually came out and said look a security is very important to us we're not going to ban huawei totally but we will reassess our network standards for all companies including while way the state department their justification for this is essentially you know it's falling in line with washington's longstanding position that huawei can it basically be used as an agent of the chinese state despite the way saying that you know they're not an agent of any state it's an employee owned company they're not beholden to any government but the state department official yesterday said hey americans will
assume that anything we share with germany will end up with the chinese now even though we have yet to see any exactly we didn't but like i mean you're laughing right now because we've actually seen no evidence of that yet but despite no evidence and despite the u.s. saying we don't actually need this evidence australia new zealand have already banned while way from five g. japan has banned while way from any government contract so some of our ally. are falling in line but look let's say all of our allies do you know caved to this washington pressure it's going to be kind of a difficult process banning huawei won't be fast or easy take a look at the world wide telecom market ok right now while way has twenty nine percent of the global telecom market so that's going to take a while to change as you can see that nokia and ericsson you know they're a bit behind so replacing replacing huawei is going to be costly and time consuming because according to to logger research network replacement cycle can take from five to ten years now take a look at this other thing i've brought for you let's look at the ownership of
what's called standard essential patents quali owns more five g. patents than any other company on earth now chinese firms as a whole own thirty six percent of all g o five g standard essential patents u.s. firms like qualcomm intel and apple only own fourteen percent so you know this has a lot to do with the fact that while we is just spending more money developing their technology in two thousand and seventeen they spent thirteen billion on research and development qualcomm you know which is their main u.s. competitor spent five point five billion in the same year you would think to show that if with all this intelligence sharing suppose that intelligence sharing with germany that the u.s. national security people could tell the germans what the problem is but then of course there's a lot of it it's it's not easy it is thank you so so much pressure your time yes thanks for having me.
for married charity the french business tycoon for saving the famous sports apparel company a duders in the early one nine hundred ninety s. zuma hot seat again this time in french court the trouble could land him in jail for fraud or misuse of public funds for the parish archie correspond as the latest . the french tycoon or to p. is backing of course in a trial that's expected to last some four to five weeks now he faces charges of fraud that if found guilty could see him behind bars for five years and also the misuse of public funds totaling an amount of nearly half a billion euros that carries with it ten years in prison now this whole saga has been going on for the better part of twenty five years but this particular hearing dates back to an arbitration decision in two thousand and eight that saw tippi awarded some four hundred four million euros the operation board upheld his claims
that a local french bank had behaved improperly in buying and reselling she is in his i didas sportswear company those dealings gave the bank a profit of some seven hundred million euros but left the businessman bankrupt now the opera tradition decision and amount at the time same shock waves through french society and be been french finance minister who is today the managing director of the international monetary fund christine legarde decided not to appeal that to raised eyebrows and also suspicion that her former boss the former french president nicolas sarkozy was somehow involved he has consistently denied the allegations two years ago a court decided to order tepi to pay back the money and they say. that arbitration decision had been fortunate and only now is the case against him coming
to trial he is one of six people on trial who has said that he will continue to fight for his reputation and his good name and that he has suspended his treatment of stomach cancer for me to ration off this case i desist oc has plateaued over the last year as the brand has steve and it looks like the stock will remain in troll for a lot longer two years ago the revenues of some eighteen percent and year ago that dropped to six percent in the last quarter it hoft that it was only at around eight hundred so it's certain scenes as if it will continue to decline. to paris. and we thank allah for that report this is also in the news in the states as college basketball has been rocked by a scandal of historic proportions as shoe brands tied to major athletic programs namely adidas were found to be part of wire fraud and collection recently to
a date is executives were found guilty sent to the slammer sent to jail so what does that mean for the company's financial future for that we turn to sports regina and regina thank you so much for being with us. i know this is a huge story i read some of it a few weeks ago but give us the latest on what's going on so they actually recently sent two of these men to the slammer as you say bart for nine months and six months james gatto was the global head of basketball development and then you have merrill coach who actually ironically enough used to work for a decent competitor nike back in the day they were sent to jail on march fifth they were sentenced and actually a few days later if you look on march eighth their stock prices took a little bit of a tumble because of that announcement and the gap is really obvious right here you just see it kind of trickle down on friday when the news really came out about how much fines you would pay and there jail time so it's really. been an interesting case that it is not only suffering on the foreign front but the domestic front as
well and you know their growth has been stymied a little bit because of this news they went up twenty seven percent growth focusing on north america as their brand developed and now they're going to kind of see that trickle off because he wants to partner the brand known for corruption you and i were looking at their stock chart earlier today and in the last year they were high like last i think it was april like one thirty two but as you show in that five day chart was a great one to show because when the news hit boy did it go down now talk about the sort of how the communities how these college programs might be impacted from a financial perspective because of the story well you know a lot of colleges partner with nike especially based out of oregon a lot of the west coast schools adidas managed to pull away the university of washington which you know is a nike territory they pulled them away for a deal of worth about eight point seven five million dollars so they have some of the biggest deals they're just saying the university of louisville to a ten year one hundred sixty million dollars deal and now levels kind of shaking
their head going what did we do we sign of this brand in so that is tarnishing them i think a little bit and they also partner with the university of kansas who is now suing adidas for one million dollars related to legal funds that they need and they've actually hurt their grand as well so it's interesting to see if gatto and code are going to you know pay out that settlement to qantas the and the biggest basketball programs so sometimes that these stories are there certainly interesting and they're important for business but sometimes the story the short are here and there but the business is go on and my question to you regina is do you think some of the competition under armor might pick up some of the slack here or were there not be any damage to it but it is a sure i think you know has the largest football print a basketball played excuse me in the world ninety percent of their shares come from bats well you can see here part their joint their subjoined brand also makes up a large percent of the market. fourteen percent and you know they shrunk a little bit due to dia's his growth but nike still holding strong they're still
very competitive on the market level and under armor is even creeping a little bit the maryland baltimore based company obviously universe in maryland is a partner with them and their c.e.o. complaint is an alum but they also the eighteen other schools that they partner with and last year alone they made five point one nine billion dollars up four percent from the year before and they're really trying to bring in those schools to them that go look at our brand look what we can do we're not going to tarnish reputation like adidas we don't have corrupt men in our helm and they also signed a big deal with the university of u.c.l.a. fifteen years two hundred eighty million dollars that is the current heard of in college and that is boosting their profiles you're going to see a lot of those other companies like russell athletics as well you know kind of take that adidas is footprint away regina him thank you so much more and i loved all the business but thank you regina. and it's time now for a quick break but hang here because when we return numerous nations continue to ban flights of those boeing seven thirty seven jets the u.s. federal aviation commissions that the administration rather says don't worry be
happy parties actually banks reports on the status and lauren fix the car coach will be with us to talk about former c.e.o. carlos gold as renault mr nissan all have new boards and trouble tests like it's the brakes and the accelerator at the same time as we go to break here the numbers the closing bell will be back in a flash. with this manufacturer can be sentenced to public will. when the ruling classes protect themselves. with the fine. listen to the one percent. of the
room sick. during the great depression which you must remember that it was most of the family were working. there wasn't it was bed you know much worse subjectively day but there was an expectation of the things were going to get better. there was a real sense of hope. there isn't today today's america where shade by the ten principles of concentration of wealth and power. reduced democracy attacks so low down engineer elections man you for. sure consent another prince holds according to no on. one set of rules for the rich opposite a little sure. that's what happens when you put her into the.
narrow schecter of will switch will is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. after the previous stage of my career was over everyone wondered what i was going to do next the pope the ball different clubs on one hand it is logical to search the home fields where everything is familiar on the other i wanted a new challenge and a fresh perspective from time used to surprising us all why not if you think. i'm going to talk about football not be or else you can think i was going to go.
by the way ways of the slide here. one else show it's seemed wrong. but all in all just don't call. me. yet to shape out just to become educated and in gains from it because of the trail. when something find themselves worlds apart we choose to look for common ground. welcome back as numerous nations bans flights of those boeing seven thirty seven jets in the wake of another deadly disaster over the weekend in ethiopia the u.s. federal aviation administration seems to be saying don't worry be happy all schools
as you can see their stock has certainly been responding to the controversy archies actually banks reports the status actually. i'm here at the ronald reagan washington national airport where both american and southwest airlines are continuing to climb the boeing seven thirty seven max schatz just sent by the crash in ethiopia over the weekend that killed everyone on board that was the second crash in just five months involving a maxi pad causing many airlines of realm of the world to ground look flights however airlines here in the u.s. aren't using that to do so currently southwest is operating thirty four planes and it has already ordered two hundred fifty of them as part of their new fleet and american airlines has ordered one hundred from boeing and currently operating twenty four here and the united states former n.t.s.b. chairman jim hall says boeing and the f.a.a. should ground the aircraft paul told usa today he believes the responsible thing would be quote for the boeing company to pause and take a very close look at these two accidents to find
a determination of what the cause was so if there's anything systemic all related to the computer operations of the aircraft that it can be addressed that's the prudent thing to do despite the u.s. his refusal to grant these flights at least twenty five airlines around the world have done so some locations where these airlines are located are in the u.k. china india and south korea boeing seven thirty seven max eight planes are fairly new only two years old they are considered the best selling airliner ever costing roughly one hundred to one hundred thirty five million dollars one aviation expert . says this newer model has gained popularity because it's feel what if they shouldn't but whenever there are modifications he says there's an important things to take into account the f.a.a. says that it will take a media and appropriate actions if and necessary after assessing the damages reporting at dca actually banks are t.f. back to you bart. based british petroleum has suffered
a setback in attempts to greenwash its image on climate change after the exposure of the company's lobbying against limits on emissions of methane the power he powerful heat trapping greenhouse gas documents detailing b.p.'s efforts on two fronts to convince a drop of ministration to lower methane limits have been obtained by greenpeace the documents record b.p.'s efforts to convince the trump environmental protection agency and the bureau of land management to rescind rules meant to limit methane leaks from fossil fuel extraction operations b.p.'s head of exploration bernard looney is scheduled tomorrow to address an energy trade show on the topic it's called methane emissions getting to zero that will be interesting. the company's stock by the way has been taking a bit of a beating as of late and we will have to see how it plays going forward we keep an eye on that for you. and president hassan rouhani of iran is starting an official visit today to neighboring iraq where the embattled iranian leader will seek iraqi
help in blunting the effect of u.s. economic sanctions the trumpet ministration reimpose those sanctions and violation of the two thousand and fifteen international nuclear agreement with iran while international experts have said iran has honored the agreement mr wani is expected to sign several men around of understanding and trade deals with his iraqi host including a key agreement on building railway links from iran to the oil rich city of basra iraq is an interesting position because as a neighbor to iran they supply natural gas that generates forty percent of the nation's electricity and a host of roughly five thousand lingering u.s. soldiers a bill to govern the stationing of foreign troops is expected to be introduced this week in the iraqi parliament. and we now move to auto news and boy oh boy is there a lot of a to help us out we are pleased to be joined once again by lauren fix the
car coach hey laura how you do and. are lots of news going on in the auto industry there sure is and it seems like whenever we you know have you set to come on the show all of sudden you know when it rains it pours there's lots lots more we haven't had you on in a couple weeks so first let's talk about your acquaintance carlos goan he's out of jail in tokyo he actually walked out in some weird workers' attire as i recall what's the status of that case lauren. well they snuck him out the back door you had a mask over his face you really couldn't identify him he seemed to be in some sort of prison attire of course they stuck him out to is a partner to a private apartment where he has no access to the phone or computers and less he is at his attorney's office which i find interesting but we'll see what happens he does have a better attorney this time was able to get him off on bail they actually applied to the u.n. saying that you know he had terri and rights this poor man was literally suffering
in prison and without a charge against him i mean he was there for like a hundred days right it seems like an awful long time with no charges lauren absolutely number there that their country has different rules in the u.s. and us here you know innocent till proven guilty apparently there they have a really high conviction rate which means if you're charged of a crime they may or may not have the information immediately but you sit there until they have it so this sounds to me like a coup everyone i've been talking to industry has been saying you know the sun did not want to merger of mitsubishi and re no together as one board well they had a meeting this week anyhow to sort of reduce some of the tensions and of course karl's going wanted to attend and they told him he wasn't invited and of course i don't think he would be allowed to leave the country anyhow i was going to ask you about that he actually sought to go to the board the board beating and you know the car companies said no they're going to go and go alone so what does that mean for
the companies you talk about the company is a little bit to me by not having him on the board does that mean they're going to be on the straight and narrow and make some good moves in the future. well we don't know exactly what they're doing but we know they want to reduce some of the tensions especially with investors and potential customers of their vehicles they want to say hey we've got to sort of control we're still going to work together as an alliance share some platform share some materials and drive lines and some technology that was the whole goal of having this sort of in public or typically you wouldn't see this type of board meeting you know announcing that where they just didn't behind closed doors not having carlos go in the next may or may not be a good fit and he's very wise man he saved for you know he saved mitsubishi nice a nissan and now they're telling him he's not invited to the party so i'm sure that based on what the results are of this final situation in japan whether they convict or don't convict we'll see what ends up he made societies had enough of all three
of them right let's move to another one troubled tesla they've hit the brakes on closing their showrooms they announced i think it was last week and then although it's strange that the bill had the showrooms open but then when you go in you're going to order online that seems bizarre to me but who knows i guess it's to see the car before you order online and at the same time they're going to increase prices i think on end of everything except for the model three is that right. right and now they've produced way more vehicles than they can sell they're talking about anywhere between twenty five and fifty percent cut in sales for this next quarter we're waiting to see the actual numbers because remember they were had to produce five thousand cars a week and now they're letting people's you know stay at home they're laying people off and then last week in order to pump the stock prices came out and said that they're going to lower the price and close all their showrooms and they're going to save money and of course that pop the stock price just a little bit the f.c.c.
is watching but then two days later he says no we're going to raise prices i'm going to leave some stores open so this is causing some confusion in the market and you're looking at companies like morgan stanley saying you know we're not it's not worth the risk to to invest in tussled they're saying that it's a bad risk and you're seeing other investment companies saying this it's because he can't make up his mind and every two days supposed to be monitored on twitter that isn't just post things and i'm sure the f.c.c. is monitoring this and i'm sure they're going to be calling him on the carpet after he keeps saying negative things about them i always say you can be careful when the government's involved because they don't play nice i know it i was with the government i was there to help but not all of them work hey lauren we hope you'll come back real soon because there's lots more to get to look like lauren fix a car thank you laura. thank you. and that's it for this time thank you for be with us you can catch boom bust on you tube dot com so i won't bust artie so long for now so you.
you if they think you know how to save us fishing to go but if you want to go there for fun with us get on faith nothing nothing nothing oh my god i get out of your fucking head for this i don't want to pull over for the night of the so. what politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president. or some want to. have to try to be for us this is what the four three in the morning can be good good. i'm interested always in the waters. there should be more. physicists is
a stick from the water bottle phone in the stomach of the fish the brand is sponsor of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad ones they're the litter bugs are throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. as soon as school sets. a special projects funded. on the new best that is the end of it for the city but for now the mountains of waste only grow.
up. this is the humiliating defeat for the government this evening prime minister or three. months previously the city promises to raise a maze tweak to bragg's it plan is transpiring m.p.'s who will next vote on whether to leave the e.u. without a deal. any documentary reveals that supporters of terror group islamic state have infiltrated a greek refugee camp where they rule with an iron fist we talked to the film's producer.