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tv   News  RT  June 12, 2018 11:00am-11:30am EDT

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different and they verging agendas particularly on social issues but also on economic issues and financial issues although they shared some slogans in the come paying for the elections leaving the euro leaving the european union less my gran's and cetera et cetera but you know when it comes to the reality and not to the company for the elections to the real things that you have to deliver well it's not yet clear what they are going to do so we are really waiting to see what will be the real strategy and the real achievements that they have in mind to do to bring together him i mean their program after the elections there are no clear signs so far what is really relevant for us you know is first that they recover the italian economy in a sustainable manner to create more jobs this comes before any other kind of financial taxation or euro area issue of being the first point is if they are able to keep their promises of creating jobs for people and for the moment we don't know we are waiting to see if they will be able to do so and on the other side we want
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the taliban government to participate in the european debate about the european people of social rights making sure that the new legislation going on at the euro the european level for walk life balance for protecting gender equality in the labor market for making sure that we can build up eleven playfield off rights of four european workers etc well making sure that all these can be achieved before the european elections that will take place in one ear time and i think they were they tell you in government or board or not on this that months will be very crucial for us you know eight zero is one of the most relevant economies in europe but also one of the most relevant countries it depends on them if they want really to have a role in this discussion or not if the have to be power if they want to be powerful or do they want to be completely ruled out from the discussion and from the decision making process so we are really facing a crucial and very enigmatic moment it will be very important. interesting for us
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to understand well they are going to do in this respect these are our priorities and we are going to discuss with them if they will be able to least and to us of course look of isn't easy the general secretary of the european trade union confederation thank you so much mr general secretary appreciate your time. thank you very much for that let's just in time now for a quick break but i hang here because when we return there are new e.u. regulations designed to protect people's privacy we'll get the latest on what and how they are working from enter thirty local privacy expert miles edwards plus artes ashley banks looks at some crazy additional point offerings that might perhaps should scare us all a little as we go to break here live numbers at the closing bell another day for stocks today and bitcoin is the only red arrow at sixty seven fifty nine we'll be right back.
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the legacy of coal guys are the winners the legacy oil guys are the winners the legacy all central bankers are the winners innovation you dynamism the constitution the bill of rights these are the losers in this america. you know world is a big part of the new law and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks.
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and the. people who might come to the aid kit same companies same go boil tonight nobody will see the proof that they can. who. said i didn't. even show the movies because of illness and. in so. doing this. is not a. few. years. and
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welcome back a spinoff of storied u.s. retailers sears is closing down a major portion of its stores sears hometown and outlet stores inc was a spinoff of the former larger company and they spun off in two thousand and twelve and announced on friday that they would close one hundred of their eight hundred eighty two locations in the u.s. this quarter the retailer also announced a nine point four million dollar loss for the earnings period ending may fifth and expects a charge against earnings of seven point five million dollars for the cost involved in closing the stores and if this headline is a little giving you a little bit of deja vu that's because sears holding which runs the regular series retail stores announced at the end of may that they would close seventy two stores in the near future and those seventy two stores were not list of the most one hundred unprofitable locations. the fight between china based multinational
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conglomerate ali baba and ten cent has escalated to the point that investment banks are being pushed to take sides ali baba's affiliate ant financial reportedly demanded the signing of restricted non compete agreements as a condition for banks one to participate in and three said. ten billion dollar funding round this follows the pattern of ali baba's i.p.o. in september of two thousand and fourteen when the company demanded participating banks agreed not to work with tencent or with j.t. dot com a competitor e-commerce company without ali baba's consent while the specific agreement has expired alia bhatt will reportedly remains eager to keep partners away from j.d. dot com as a direct competitor experts say ali baba and ten cent do have reason to be anxious about who their bankers partner with since agreements and shared projects may reveal critical data and strategic plans.
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the european union's general data protection regulations g.d.p. are went into effect on may twenty fifth in an effort to protect the privacy of european union residents what does it do and will it work here discusses attorney and global privacy expert miles edward miles thank you so much for being with us really appreciate the g.d.p. are lousy you residents to access their collected information and have the information amended or even deleted how does that actually work and what else does this regulation do. well first of all thank you bart for inviting me on what it's does is well first of all i think we've all seen the implications of g.d.p. already you probably already have received an e-mail saying do you consent to receiving this information do you consent to still being on our list so one thing to keep in mind is that for us firms especially you don't need to have a physical presence in the e.u.
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to be subject to it if you store data or you have clients in the e.u. you are subject to it and vice versa so many american citizens already have been receiving. email requesting consent from european union firms that they may be doing business with and what's really important about that is read exactly what type of consent you're doing and in addition to that you're going to find that with it is a privacy policy for the firm so it's extraordinarily important to read over this information because it's going to give you a sense of what the new g.d.p. are is going to look like for you miles i've wondered and knew may have just answered the question but i have been getting a lot of additional consents and i didn't know if those were just general privacy updates related to the whole facebook cambridge analytic a scandal that they were in the u.s.
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so you think maybe a majority of these things that are coming are actually coming from your from with regard to g.d.p. are absolutely i mean we live in a global environment bard and even though you may not think you're conducting business or that a european union firm has your information most likely it does and so because g.d.p. are became effective on the twenty fifth of may right now we're seeing an influx of e-mails being received by a u.s. citizen so again read it over and you have any questions part of the. p.r. is it's incredibly democratic it now lousy individuals to have control over their data not only does it allow you to petition that firm to find out what data they have on you but it also allows you to control the way that they use that data and it's incredibly liberating in fact i have never seen a privacy regulation that is so broad and is so consumer centric as g.d.p.
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are it's sort of amazing i wish they would do what i know you do when your life as an attorney and i used to do on capitol hill is give you a nice red line of what it was before and what is it now because they are so long and complicated but your advice mile is miles as good about reading it do if you have problems can you and can u.s. citizens take advantage of this also can you actually seek to see what information they have and if it's incorrect have it updated or delete it. well to a degree you do and you're not going to have all the rights of a european union citizen would have but you do have some rights and one thing to keep in mind for it as well is that the united kingdom even though they have technically removed themselves from bracks it is still abiding by it and so sometimes you going to see a situation with certain scandinavian countries which may not be technically european union countries and the united kingdom is still abiding by it so it's
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extraordinarily important to pay attention to this now what's also interesting as well is that with any sort of privacy regime there's a barrage recy so individual states with in the european union have the ability to moderate and revise the g.d.p. are now they can't lessen the restrictions and they can't lessen some of the robust protections but they can certainly add to it so i think what we're going to see is we're going to see a long road of g.d.p. are and for american firms for american financial firms again i advise them that even though you may not have a physical office somewhere in the european union if you store data there or you have clients there you're absolutely subject to two things one there is that initial data protection initiative back in ninety five that seemed to go no place because they didn't have strong enforcement it sounds like this one does miles and do you think that those lawmakers in the u.s. may look at this at that g.d.p.
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are and emulate those provisions to some extent i think they're going to have to because again we live in a global environment in one thousand nine hundred five twenty three years ago was a little bit of a different situation because the regulators did not have the infrastructure the manpower or the technology to enforce it and right now we're finding that the regulators are coming on par with their constituents which are primarily the firms that they regulate so i think we're going to see a lot happening with g.d.p. are also in the vids. well consumers have a private right of action so now you can legally of the yourself of going against those firms if in any way they violate your rights under the g.d.p. our it's a fascinating fascinating regime and one thing that has interested me most part is article twenty two which says that you have a right not to be subject to basically what they call automated decisionmaking
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which is a i and profiling which means that if you apply for a loan in a machine decided you're not getting the loan you have the right for that loan to be reconsider by real people and you have a right not to be profiled which means that not to have all your information aggregated in order to make a decision and i think article twenty two if you asked me what the most important provision of the g.d.p. are is it's one that we have been talking a lot about and that is article twenty two it's going to impact the way firms to business and it's also going to redefine how we view artificial intelligence how it relates to us and how it relates to our relationship with financial institutions miles thank you so much we hope you'll come back as we move forward on this issue as attorney and global privacy expert miles that words thanks for being with us. thank you bart. a south korean crypto exchange reported a cyber intrusion i.e.
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a hack and the price of bitcoin has once again plunged on sunday the exchange quine rail said that several other of their coins were alternative versions a bit coin had been stolen the this prompted a ten percent drop in prices dropped below sixty one hundred sixty seven hundred dollars and has remained trading around that level as reported about sixty seven hundred fifty or sixty two midday today meanwhile agro blocked chain is the first crypto company to be listed on the london stock exchange one of the oldest stock exchanges we expect there would more to come and now our teams actually banks talks about some incredible initial coin offerings that seem quite crazy to say the least buyers beware folks years actually. logline a startup company located in the cayman islands is on track to raise four billion dollars and a year long sale of digital tokens this would be the largest fund raising of its kind some may find it baffling that a startup company could raise so much money without having
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a concrete plan for using it however things are changing as virtual currencies are becoming more and more popular many of the currencies like big coin experienced a rise in twenty seventeen interest from everyday investors as well as long street however these digital tokens differ from virtual currencies as they are tied to a product or service a company plans to develop or offer in the future although the praises of bitcoin another crypto currencies crash earlier this year that didn't stop investors from investing their money and to initial point offerings according to the research firm token report and twenty seventeen i see ows raise six point six billion dollars and in twenty eight hundred so far i see ows have reception point fifteen billion dollars this total does not include block one according to the wall street journal the largest initial corn offerings are blocked one telegram dragon bio coin and has those some current offerings have been exposed as scams and others are
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from companies that may never actually develop a product or service the idea of startups like block one is to help free ship the architecture of the online world similar to google's android however the platform one of be owned by a single company experts say these platforms could improve the future of online payments through the open ledger block chain technology on the block one isn't sure how it's going to use its proceeds the company is hoping to develop a plot form we're going to host a web application front about why virgin is set to be released in june and washington nationally banks are here. like i said barbie were. there and that's it for this time you can catch boom bust on youtube youtube dot com slash boom bust archie we'll catch you next time.
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but. the. kid. does saddam hussein don't tell you that means i can do it on j. dilla new postings on the us i'm not at equal distances under what he thought was a stance many thought. this would only be done to tell him to. move it out to those off putting in a system this is the downside of the us it all took the sort of thing on.
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what politicians do something to. put themselves on a lot. to get accepted or rejected. so when you want to be president i'm sure. you somehow want to be rich. but you'd like to be pushed that's what before three of them can't be good. i mean first of all those are the laws. there should be. join me every thursday on the alex simon show and i'll be speaking to guest on the world of politics school business i'm show business i'll see you then. stein is getting international recognition with the help of israel at least in the world of zoos and middle fiddlesticks misted. like you know. this isn't my cup of
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tea is going down the hall maybe you know xan tell me they should be the only palestinians who gets the most help from counterparts i don't think some of those who in the world under the oak bush didn't know only could do this. and though it is all off. i'm going to compete in the doesn't seem to do more. but result. i. was.
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making history with a handshake the leaders of the u.s. and north korea. starting a joint agreement to leave the past behind. we're very proud of what took place today. i think our whole relationship with north korea and the korean footage is going to be very much different. situation than it has in the best coming up in just two days and counting those very final finishing touches be made before the fee for world cup cakes all here in russia. morning. you know it was booked i want to put an end to this human trafficking which puts thousands of lives at three thirty in the city's new government makes good on campaign promises closing ports controversially to
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a vessel carrying stricken migrants bus to an upcoming concert by a controversial muslim rapper in the. paris. for the deadly terrorist attack three years ago these people in the french capital stuck. good afternoon just one of the afternoon this tuesday lunchtime in moscow is kevin owen here if you would. first on the main story we start with the big news out of singapore today deal done it seems the leaders of the u.s. and north korea earlier signed off on what's billed as an historic document of understanding and pledged to meet again many many more times now a closer look at the text of the document that was signed it feels that donald trump committed to provide security guarantees to north korea. pledged to work towards the denuclearization of the korean peninsula here's what they had to say at
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the actual signing we have developed a very special bond. north korea best not make any one threats to the united states. they will be met with fire and fury and have mad men out there shooting rockets all over the place you will have no choice but to totally destroy north korean. rocket is a sick puppy frightened dog barks louder i will surely definitely tame that mentally deranged us daughter fire. this is true is proven over and over again and. indeed become friends. very honored to sign the document thank you. so the day we had an historic meeting and decided to leave the past behind we're very proud of what took place today it worked out for
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both of us far better than anybody even predicted and it's an honor to be with you . despite the two seem to get a welcome did look at the take back with one of president trump's jokes killing everybody so you look nice and really. sort of. maybe just indignant to get here with the time when the summit in singapore with an hour long press briefing just finished last hour breaks down for us the historic declaration and the u.s. president's statement. they've agreed to four basic points that were in the
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document that was signed by the president the united states and the leader of north korea first they agreed to a new us d.p. r. k. relationship a new relationship between the two countries further secondly they agreed to a lasting stable peace and working toward to facilitating a lasting stable peace on the korean peninsula they agreed to a commitment to denuclearization getting rid of nuclear weapons on the korean peninsula and finally they did agree to return the bodies of p.o.w.'s missing in action the bodies of american soldiers who had died during the korean war or the bodies of american soldiers in the korean peninsula those are the four points of agreement now speaking at his press conference following the meeting did clarify some things he first of all he said that they will not be lifting the sanctions until until there is a full denuclearization of the peninsula down from said he looked forward to
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lifting the sanctions but they will not be lifting the sanctions at the moment furthermore trump said they would be stopping the war games the military exercises that north korea has often said are very threatening to them and are essentially report rehearsing for their destruction these military exercises will be stopped from said that they were very expensive and very provocative and from there we heard some more talk about what would go on on the peninsula itself this is donald trump no we're not reduce are going to thing we're not reducing we have right now thirty two thousand soldiers in south korea and i'd like to be able to bring him back home but that's not part of the equation right now so you saying there that the number of troops on the green prince there will be reduced at the moment from there donald trump talks about that he really is administration and their record in dealing with north korea and how difficult it was to make this meeting this historic meeting you know between two countries that have been basically at will.
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with each other in a legal sense for the last sixty years how difficult it was to make this meeting happen this is donald trump talking about previous administrations and the difficulties they proceeded down a path in the past and ultimately as you know nothing got done in one case they took billions of dollars during the clinton regime to billions of dollars and nothing happened that was a terrible thing and he actually brought it up to me i don't think they've ever had the confidence frankly in a president that they have right now for getting things done and having the ability to get things done well there's obviously a huge amount of optimism around the world in the aftermath of this is sturrock meeting however there are different voices asking how optimistic we really should be folks are recalling that donald trump did pull the u.s. out of the historic iran joint plan of action a nuclear deal other people are wondering exactly how this denuclearization is going to take place with the sanctions not yet being lifted with the in troops
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remaining on the peninsula so a lot of questions are being raised but at the moment it seems that these two countries have reached historic agreement a historic document has been released so many people are optimistic watching the current situation we've heard donald trump speak in singapore he seems optimistic and there are apparently will be further meetings in the future there's talk of future meetings between the two heads of state so people are wondering what will happen next but at the moment it seems like the two leaders had a good meeting that they both feel good about and it's the beginning of something good in the world. well those talks were no sin march but in may voice his anger over military drills between south korea and the u.s. and then threatened to call it all off let's go then fast forward nine days later canceled the meeting accusing kim of hostility but the very next day it all changed because the white house some pyongyang said things were back on track to keep
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abreast of it then we go to june the first that saw washington officially announce the summit would go ahead and bingo here we are the day to go as director of the china national association of international studies i spoke to him earlier he thinks that north korea should be however treating these u.s. promises with a bit of caution. let us give hope some chance that is very optimistic for what the future may hold however also please allow me to emphasize that the united states does not have a good and solid track record of keeping its promises look at what happened to iraq look at ought to happen to libya look at what happened to syria look at the fact that the united states other president decided to walk out of the iran nuclear deal all of these are very alarming signs for d.p. r. k. and i would not be surprised if they have otherwise the us changes of their position again and again and again very carefully and whatever the agreed to with
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president donald trump must have been built upon their deep analysis of what if the united states changes their position for whatever reason what will be the falling of the if for example they completely give out or give up their nuclear weapons so i think there is a big hit mismatch between the united states as to what exactly the nuclear as asia means and how denuclearization can be achieved on the korean peninsula. talking football now two days left and counting before the biggest extravaganza kicks off eras and here in russia the twenty eight hundred fifty four world cup most of the teams are going to tell you or at the host cities where the matches will take place and the fans of course already out in force as well. because the cook book.
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a team of russian artist meter on the sidelines of all this of ways to get involved as well they created these mosaic portraits of football stars lionel messi and mohamed salah where that may seem it took them two months and sixty kilos a stone to create those rather nice artworks we asked them where they got their inspiration from. and get out of there for these are i can see a world where only one of them are still of raising starry this is messy and this is a law which is now because they are the most popular at the moment of course they will not resent us the many fans come here who know them and will be pleased to see them and be photographed next to them to get it so with the players and fans ready for kickoff it's also another group playing a crucial role in the upcoming event the.

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