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tv   Boom Bust  RT  November 5, 2018 9:30pm-10:01pm EST

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a breaching amy loads the country then phrasebook will certainly continue to encounter jews for one reason or another. for more information on any of us stories saute dot com is just a click away to have your headlines at the top of the hour see them. 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 go right to the press this is what the four three of the more people that
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i'm interested in the waters of the house. first said. this is bone bust broadcasting around the world and covering the world of business and finance and the impact upon all of us i'm bart chilton in washington glad you're with us thanks for being on board coming up today those u.s. sanctions have kicked in the place on iran's another nation's doing business with iran unless that is you received an exemption will dig into the deep. parties saya
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tavenner and then will investigate the international reaction from not only nations but businesses with steve malzberg and there's considerable and potentially consequential brecht's in the c.e.o. of straw market hillary ford which is here with the latest star to correspond at the taj a suite joins us to consider where all the garbage has gone this hard retail of trash may shock some of you all that directly has but first it's a mad line let's go. the u.s. supreme court will not second guess one of the trump of ministrations first regulatory rollbacks to limit so-called net neutrality which under former president barack obama sought to ensure all internet data be available to more people and to those particularly in rural locations the obama era rule sought to ensure the internet was not discriminatory and outlawed such discriminatory efforts by providers of websites platforms apps or communications delivery the federal
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communications commission headed by hand selected trump appointee scaled back the consumer friendly rule on a boat of three to two party line last december and a lower federal court upheld the trumpet administration's position the supreme court today said they will not read judah kate the matter and defer to the lower court. chinese president jiang jinping gave major speech today saying the nation will open up free trade in taking what many consider a straightforward shot at u.s. president donald trump let's take a listen to what he had to say today in shanghai. in the world of deepening economic globalization reward practices of the law of the jungle and winner takes only represent a dead end inclusiveness for all your cooperation and mutual benefits is only the right road forward. mr xi speech comes as new data shows today that china's private
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sector investment growth at a twenty eight month low specifically new chinese businesses are flat for the third quarter and manufacturing production has stagnated as costs for manufacturers have risen sharply prices for service providers in china have also begun to increase according to the data. and as noted those u.s. economic sanctions have been reinstated on iran as a result of the u.s. pulling out of the two thousand and fifteen nuclear agreement with iran and five other nations the sanctions will impact businesses in and others doing business with iran from banking to shipping but most importantly they will impact iranian oil exports for his part iranian president rouhani appeared defiant saying the nation will continue to sell oil the entire thing is made up muddy mess of international relations we'll get into that in a moment but what are the sanctions and how do they compare to previous sanctions for more here's here r t producer. as u.s.
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sanctions design of push iran's oil exports to zero came into effect today the hard line initially signaled by president soft and as a deadline approached with countries that have already cut their purchases to zero now being granted waivers to buy iran's oil embargo in fact iran's oil exports may well go up and knock down this month these were billed as the strongest sanctions in the history intended to prevent iran from exploiting any oil at all but their reality has been quite lived up to its hype as in the first six months of. for they fully took effect the impact of the trauma sanctions look very similar to those imposed by president obama back in two thousand and twelve when president obama imposed sanctions in january two thousand and twelve you won was exporting around point three million barrels a day compared to point one million barrels a day over oil exports during april which was when the first round of sanctions
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took effect now fast forward twenty eighteen when iran was exporting one point one billion barrels per day compared to one point three million barrels a day during the month six on the length sanctions in two thousand and twelve and today became clear which countries who have earlier agreed to reduce their purchases over iranian oil got waivers from the sanctions now back in august trump a national security advisor john bolton had an announced that there would be few and far in between but now us as agreed to let eight countries keep buying iranian oil the eight trees include china and india the biggest buyers over iran's oil as well as other key u.s. allies japan and south korea turkey italy greece and taiwan will also be permitted to continue buying it hasn't yet been clear how frequently the waiver of the waivers will need to be reevaluated or by how much buyers will need to reduce their
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purchases to avoid penalties under president barack obama leavers lasted for six months and were renewed if countries had cut purchases by about twenty percent during the period now the conditions are expected to be the same under president trump but the now one big difference from the obama era sanctions is that trump sanctions cover exports of condensates light from oil extracted from gas fields these have become a lot more important to iran as gas extractions as the increase from the south park field that shares with qatar but exports are expected client. again as processing increases at a new refinery designed to process the liquids for domestic use iran was also exporting two hundred fifty thousand barrels of constant dates during july of two thousand and fifteen compared to one hundred ninety thousand barrel of condensates in october last month it's also important to note that most buyers of iran or oil
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have taken a cautious approach since may france and south korea both halted purchases in june span and japan followed in september turkey has cut its purchases through about half compared to previous summer while italy and greece the other significant e.u. buyers over iranian oil have made similar cuts and after jump in early summer exports to india have also fallen china the biggest buyer iranian oil has yet to purchases all of the chinese government has told it at least two of its state oil companies to avoid purchasing from iran but the question remains will iran oil exports rebound tromp select their waivers are likely to have the contrary impact after allowing south korea and japan through june buying unlimited volumes of crude oil from iran which could have easily amounted to as much as three hundred thousand barrels a day given that their combined purchases
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a year ago were almost twice that much now the chinese state owned companies are also likely to return to the market and the report with the rebound will be partially offset by further drop in european purchases but these amount to less than one hundred thousand barrels a day last month and although iran will only have restricted access to the money generated from these sales payments will have to be held in escrow accounts in the purchasing countries but increase in iran's oil exports in the first month of sanctions isn't exactly the outcome trump will have been hoping for saya to have injure for boom. and next we go to our friend an expert on so many things steve wallace brick staff we appreciate you being here you know we've talked about this offline and online a few times but these sanctions that were announced today mainly target iran's oil industry which is already taken a hit thanks to u.s. pressure but they also go after things like banking in the shipping industry as
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well and hundreds of individuals explain for our viewers and go over why is the u.s. doing this especially since so much of the world isn't in on the game. well thanks for having me again bart the fact is of course that many of these sanctions were already in effect until barack obama cut them off the pres of the united states signing on to that iranian nuclear deal cut off these sanctions stop the sanctions as part of the deal and donald trump ran on a platform of getting out of the deal he did get out of the deal so this was just a bound to happen now in august he started this very slowly by putting some sanctions on precious metals and gold of the out of the automotive industry now the reason for this as stated by secretary of state by pump a zero just today was that iran is getting this cash from these oil sales and from other other areas other sectors in their economy that they take the money and used to fund terror he said that the biggest funder of terror around the world and that
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they have to stop that now it's interesting here the prime minister of iraq said we'd love to sit down and talk to the united states if the united states changes their ways that's not going to happen pump aoe said we'll sit down and talk to iran about these sanctions and moving forward iran does a one hundred eighty halts their ballistic missile program stops funding terror and behaves themselves in other ways as well so this was expected the united states doesn't care that the rest of the world is still signed on to that nuclear agreement and is against these sanctions and you did a great job at laying it out and i don't really want to debate too much about the past only because you know we're here we're here and now but part of me just wonders whether or not it was a barack obama thing and this president does seems to not like anything with the tinge of brock will bomb us low bail from that but that's not where we are today where we are today or any sanctions they went into place so what about the efforts
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to get around the sanctions steve i mean we have a couple of charts if we look at the nations which are the biggest customers of iran china is by far the leader followed by. india and then korea but but look also italy spain france so some e.u. countries that i know greece and paul in the netherlands are not too far from the top of that list either and if we look at just the non oil iranian export it's again china and india but italy is also in the top five so can the e.u. be successful in trying to get around these sanctions steve what do you think. well i don't see it happening outsell you why what they've done is they've developed or put into place this special purpose vehicle that s.p.v. it's kind of like a bank but it's not quite a bank and any transaction between countries and companies and iran and the e.u. will not go through certainly the u.s.
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financial system or the regular financial system they'll go through this special purpose vehicle which allows them i guess in their minds to circumvent any any sanctions that the u.s. might impose because they're violating the u.s. sanctions so in other words if a country buys oil from the e.u. from iran the company involved will then make a deposit into the s.p.v. not into an iranian bank or to the country of iran at all but i just don't see that this is going to this is going to hold water because you have to understand what about the company that ensures the cargo that goes from iran to the country i mean they also do business with the united states and the united states will accuse them or could very well of secondary sanctions have elations here of all put secondary sanctions on them for violating the sanctions and these countries that do business with iran all do business with the u.s. and they're just not going to risk it i don't think and also the e.u. is put into effect this this blocking and that they updated
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a blocking statute which enables european union countries to seek restitution for any damages that they incur under u.s. sanctions so those are the two steps that the e.u. has taken i don't think they're going to work yeah and i mean it's got to be some transparency there you're going to you're going to know it goes through the u.s. is going to know it goes through so there may be some. you know trepidation about going forward if you're a company x. you know totalis some of the other companies the european countries have been scared of but let me just ask you briefly and so i went over expertly a lot of the production that we're seeing out of iran for the last twelve twelve years but we see how very much they produce back then. two thousand and twelve and then some more sanctions kicked in and production dropped like a stone they have been fairly level since two thousand and thirteen but how might the sanctions impact them and do you think it will impact oil prices for example u.s. prices are at a low since april to seventy six per gallon what's your thoughts well you know the
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wall street journal did a great analysis on this yesterday first of all iran's output at one point eight five billion million barrels a couple of months ago was a two year low i think they will feel some tension i believe that and as far as overall oil prices you know that has to be taken in combination with countries like venezuela and libya and iraq who have all cut production severely because of political turmoil you also have the glut is kind of off the market the reserves are down so that would all point to oh well oil shortage we have to raise prices but opec is willing to come to the rescue here they just haven't decided what to do how much to open the spigot so to speak but they will come to the rescue you also have the fact that shale production in the u.s. is up and the world economy is down so that limits you know put demand for oil and russia can step in there too steve malzberg thank you so much steve sure appreciate your help and insight my pleasure bart. and time now to squeeze in
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a brief break but stay with us because when we return there is considerable and potentially consequential brecht's at news the c.e.o. of strong mark hill report which is here with the latest and later r.t. correspondent to talk just tweet joins us to consider where all the garbage has gone it's hard to retail of trash which may shock you as we go to break here the numbers at the closing very close in belfast in a flash. join me every thursday on the alex salmond show and i'll be speaking to guests of the
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world of politics small business i'm show business i'll see that. this is neil barr can tell as. well all countries competing with all countries number of globalization no more central bank domination no more national monetary fund world bank united nations colluding in backrooms and damage to continue to corrupt the global. welcome back right hailing company is back in the headlines again and this time
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it's expanding the service is looking to add a new top tier subscription style model for those who are unaware how the app works prices of rides fluctuate given upon the amount of users trying to order at any given time so if a dozen of people or more are trying to order in the same area at the same time prices will surge at vice a versa if there are fewer requests the ride will be less expensive well over is trying out a new way to circumvent that price hike the new roll out which is titled ride passes being tested in five u.s. cities los angeles austin texas denver colorado miami and orlando florida according to initial reports the pricing scale will be around fifteen dollars a month in all cities except l.a. where it will cost an extra ten dollars to twenty five dollars a month who says it never rains in california the company aims to. expand the service to more cities next year depending upon the success of the pilot program.
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and speaking of how established companies are trying to transform and more to gain more market share we now turn to another goal was this time it's amazon one of the world's largest companies as they too are trying to something to do something different and divergent and just in time for the holiday season and is on announced today that they will scrap the purchase minimum requirement for free shipping on orders for the online retailer the new rule is already in place as of today with no official deadline however the company says it will continue the offer until it can no longer get items to customers by christmas by december twenty fifth so in order to get other words you have to do it before the holidays previously non amazon prime members would have to have had hit the twenty five dollar minimum on orders to receive free shipping which was cut down from thirty five dollars last year the change comes as amazon competes for market domination as we've discussed here in the program against retailers like wal-mart which has become another enormous actor
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in the realm of online shopping. some not so desirous data is out from the united kingdom today as a service sector weakened last month hitting a seven month low amongst the hardest hit areas are hotels and restaurants and u.k. new car sales are down two point nine percent for last month for more on the u.k. there's a bevy of breakfast news today we are pleased to be joined by our friend hilary ford which is c.e.o. of strong mark hilary welcome back. always great to have you and you're becoming this super you're always expert on brecht that but now you're here giving it goes all the time we appreciate your speaking earlier and a sort of interesting want to throw away the script here a little bit about how big a deal this thing is and we get so immersed in every little thing that happening i'm going to talk about some of those things but to. some extent i wonder if we're sort of like the quintessential frog in the water that's being boiled first is just
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a nice little heart warming of a sudden he's cooked we've seen theresa may really move from a there's not going to be a deal unless it's this way but is she perhaps moving the goalpost on what is acceptable for a breakfast deal well first of all my pleasure to be back thank you but two things here i say would play theresa may has to make sure she keeps all factions together and increasingly there are splintered factions within her own party and within the country let's go back to actually nine hundred seventy five people voted on something that had already been agreed and here the british public the u.k. public had to vote on something that wasn't agreed there were no tums so you got this so and so interested or yes it showed seventy five was when the u.k. decided to enter your and it was also a referendum but you're saying it was a very specific reference because it all the terms that already been agreed upon this time people were asked to agree upon something or disagree with something to
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one certainty either vote for the known or vote for the unknown uncertainty and so it was based on the lack of facts so a couple of things here let's look at what david rubenstein just recently said he said that college has not made the same kind of investments that it would have done into england why because of uncertainty uncertainty is never good for business you just mentioned some of the numbers there predominantly down just because of uncertainty nothing negative is even happened yet but it's that lack of certainty that what is what impacts businesses this is complex i want to ask you two questions in one one is. about dominic rob the secretary or secretary of state while you were brussels in dublin i'm sure you're going to ask about that right exactly but in addition to dublin because he did shark the his counterparts there i also want to ask about these. letters one of them today one of my think yesterday from lawyers the top fifteen hundred fifty two
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hundred yes four hundred and boy they said some shocking think we may have it on the screen but essentially they are really concerned about where negotiations are and then there's also in addition to the lawyers there's a bunch of people that are involved in business and you're involved in this what it was the british about american british american business association so they're really concerned about business too they say no deal is bad what do you make of all this and how we're going to go in and i don't think that no deal is about i think a no deal is better than a bad deal is what i keep saying but two things on that you asked about what what is happening in terms of this letter i think the letter again as a very dissatisfied part of the economy don't forget the lawyers a scene what's happening in businesses where there's this again degree of uncertainty and a lot of that is coming around the backstop issues so that relates to other part of the question the other part of the question is with regard to brussels and dublin and what happened was rob presented this letter which was not endorsed by downing
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street by the way it may have said that she wants to see an exit plan and she wants a proper strategy but this basically was wanting to have a unilateral and that the u.k. can call any time that's what rob rob wants he wants to be out at any moment say unilaterally we want out of the customs union it's the customs union that's the big issue as well as that irish border the irish border needs to be both indivisible and irrelevant which it is right now right and what he wanted to do is pull out of that unilaterally and obviously the irish don't want that but they have negotiations around the u.k. so you've got three players here you don't just have the u.k. and brussels you have the irish and the irish were pretty good at nationally when all this came to the front they went around and they went directly to brussels and they went directly to those e.u. leaders and that's what's causing this hilary thank you so much for the update sure appreciate it as always my pleasure.
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and there is no shortage of waste around the world whether it be nuclear plastic or just plain gar bar there is more than plenty to go around and while the business of waste used to be lucrative policy changes in china and elsewhere drastically altering the landscape for several countries argues the talk has more from los angeles recycling centers across the us from seeing a massive drop in revenue so many are either stepping down or taking a financial hit to keep their doors open china and they're in a new anti-pollution program is changing how most of the world is being brought up their waste notably recyclables. recycling used to be an eco friendly way to earn a few bucks the financial part was an incentive to consumers and for the recycling centers it was big business to sell to china analysts say before two thousand and eight china was desperate for raw materials the most populous country close to one
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point four billion people and growing needed it for manufacturing infrastructure and housing indecision to being the most populated china was also the biggest importer of plastic waste and since one thousand nine hundred two has been importing some forty five percent of the world's waste last year alone the u.s. sent seventy percent of its plastic waste to china and hong kong and it's been adding up china imported a total of forty five million tons eighteen billion dollars worth of scrap metal waste paper and plastic from countries all across the globe but since china and acted it's anti pollution campaign at the beginning of this year there are some serious changes in the making for one of us is now importing its trash to other parts of asia like thailand malaysia and vietnam but now the u.s. is excess plastic waste is causing a global crisis recycling firms are now under pressure to meet higher standards causing costs skyrocket instead of what they were. these painful waste they're now
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charging for it and there's no question it's piling up in california the world's fifth largest economy well bills to combat the issue are pending in the legislature san diego now faces a potential one point one million dollars charge for waste a stark difference from the city receiving an annual revenue of four million dollars china's change in policy also impacts the u.k. it comes at a time when the european union decides to phase out single use plastics making all packaging reusable or worse likable by twenty thirty you read media up to eight billion tonnes of plastic produced in less than sixty five years six billion tons of waste the figures speak for themselves more than four billion times from europe alone the oceans have become the dust bins and they are dying greenpeace activists branded the move as a good first step but says it's not the sole solution obviously things that we do at home recycling can help with the plastic problem but it's really not a problem we can just recycle our way out of so much plastic is produced inside
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it's a truckload of plastic it's don't into the sea every second recycling isn't going to fix this problem we need to start cutting plastic off the source and having reusable alternatives instant plastics aren't the only form of waste polluting the planet russia has been working with its counterparts to clean up the entry of baby after the nuclear waste from a former soviet naval base leaked into the barents sea in the one nine hundred eighty s. i guess more committed to promoting secular passion and the idea that clothing should be continuously rewarding. and there were other solutions in the making guests didas are among the latest string a retailers touting an eco friendly campaign offering some type of recycling options to their clothing right now we're still at the process there are we're going to go shopping with municipalities to see what can be done at the school say changes must be made since the model no longer finds itself in santa monica touches sweets art. with pink natasha for that seems like us. to take a lot from everybody to get around that we spoke on the program before about this
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short killer economy you know that's when you can use something that has a life after it's done it just doesn't go to be exported we should be ashamed at exporting so much trash that's it for this time thanks for hanging out with us you can catch boom bust at youtube dot com slash boom bust our t. catch you later. the united states under many press has a long warning now there's a break in its treaty and other promise not the united states says it's going to leave the treaty again.
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what. regime has a choice it can either do a hundred eighty degree turn from its outlook course of action to clear military park and see its economy crumble. that had dines the us three impose this all sanctions against iran that were left as part of the twenty fifteen nuclear deal they tug at toronto oil and bag banking sector as it was also threatening to
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penalize foreign companies doing business with the country.


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