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tv   Boom Bust  RT  November 20, 2018 5:30am-5:49am EST

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national agreement on how to address and confront one of the key issues of our time cyber security is moving forward and more than fifteen nations agree with the direction save one the united states the c.e.o. of various software logically joins us and later he's back and we are indebted and we are slain in the privilege in texas leverage big four accounting firm pricewaterhouse coopers is with us to talk crypto all that ahead but first we had some headlines let's go economic summit tree and asia leads our global report today as the u.s. and china take their turbo trade and tariff show on tour making no progress on issues at the asia pacific economic cooperation summit or apec and pop out new guinea almost as soon as u.s. vice president might presents a writer for plymouth marry a packed meetings he restated u.s. grievances with china and stayed on message throughout the week and earlier today mr pence warned asian nations against an gaijin in china's vaunted belt and rode
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a nation of saying we don't drown our partners in a sea of debt we don't coerce or compromise your independence we do not offer a constrictor ring belt or one way road stay tuned this week for more from the apec summit and the region and staying in asia nissan motor company has forced chairman carlos go on out after he was arrested he was arrested for alleged financial crimes nissan says internal auditors discovered evidence of efforts by mr goen to mislead his colleagues at nissan quote over many years before today the brazilian born executive was most well known for his reputed reboot of nissan and french auto maker renault mr goen personally chaired the corporate partnership between the two as well as serving as renault's c.e.o. . and speaking of that renault nissan partnership french president emmanuel.
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mccrone has been compelled to restate official support for the project the increasingly unpopular former investment banker told media in brussels that as a shareholder however the french government will remain extremely vigilant regarding the stability of the alliance the renault group and its employees who have the full support of the state. as the holiday season is upon us and black friday approaches we now move to discuss an incredible industry of more than four hundred sixty billion dollars this one is a legal and if you weren't careful you could be embroiled in it in a hurry in the u.s. the trademark and counterfeiting act of one nine hundred eighty four makes it against the law to knowingly use or sell fake items but that doesn't stop the scam stores from trying and it doesn't stop some who want those knockoff goods from buying here to discuss is an expert on the subject the counsel and vice president of corporate strategy for the international anti-counterfeiting coalition laura
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miller laura thank you so much for being with us we're glad to have you this is a pretty big problem a tell us more about it i said four hundred sixty billion bucks but tell us more about that absolutely and thank you so much for having me this is a really big problem counterfeiting is pervasive and we all really need to work together to stop it we all love online shopping especially around the holidays but it means that these cancers have essentially direct access to consumers all over the world and an instant i'm going to hide behind the anonymity of the internet and you know at least one point two billion dollars for example in counterfeit goods in the seas last year by u.s. customs and border protection alone and that's just the stuff that we catch because direct to consumer shipments mean that millions of individual packages are landing on people's doorsteps every single day we're not talking about big cargo containers that can be stopped in easily searched his or all individual segments so it makes it very difficult for law enforcement to stop these. for products from reaching
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consumers. and lar i mean i assume that a lot of these are made particularly in china but is that right and where else might they be made absolutely they're made all over the world a significant amount are made in china also pakistan india eastern europe but wherever they are made what's important to remember is that these aren't just individual mom and pop shops selling a couple t. shirts in their living room to make a buck these are massive criminal enterprises and they're operating all over the world they're making these products in a poor condition using often force or even child labor and they're using the money they make off of this big business to find other criminal enterprises as well things like drug trafficking terrorism so no matter where they are made it really is a global issue for all of us. how do we avoid this stuff i mean how can you tell i know if you go and you've got a fake rolex that
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a watchmaker can tell you that it's not the real deal but how can average consumers be prepared for this lar consumers just really need to shop smart and stay vigilant look at where you're buying from me say three p's place packaging price look at the place that you're buying it from if it's online do they have a reliable f.a.q. section to they have an active customer service line to they have a good return policy look around the store you're in does it feel legitimity ask them where they got the product from you can always check in and before you buy and of course look at the packaging look at the product or is there any spelling errors are there blurred logos is the packaging intact if we're talking about a beauty product for example do we have the c.c.c. oh there is the packaging or handbags there at all look on the brands website compared to what you see compared to similar items that you've purchased in the store before and if it looks a little off it's probably fake the same goes for price if it's too good to be true
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it probably is a lot of web sites will say they have a direct factory connection or it's intended for a different geographic market but those are really just lies to trick unsuspecting consumers. laura thank you so much we hope you come back and tell us more because i know some people want to buy these things and i want to know i got a lot of questions about that too lauren middle of our counsel and vice president of corporate strategy at a i.a.c. see thank you lara thanks so much. and there's an asian update to report regarding the bankruptcy of former u.s. retail chain toys r us the c.e.o. of toys r us asia now it's a deal earlier today which separates the asian unit from toys r us incorporated while enlisting an eighty five percent buyout from shareholders in parent company
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true tosh l l c fung retailing toys r us original regional partner they will retain a fifteen percent share toys r us asia says the reconfiguration will allow the company to not only survive but even expand andriy holidays president of toys r us asia pacific said the deal quote means that our current shareholders both fung retailing and the taj note holders are focused on only one thing the development and growth of toys r us asia within our countries. and as black friday approaches and retailers are getting ready or many might already be ready for increased fourth quarter sales which will be the winners and losers here to help us understand is hillary ford which the c.e.o. of stroll mark hilary welcome back another topic another day and we know you're going to be great on this one looking back we what do you consider sort of the best years for retail and then what do we expect going further or good to be back about
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. two things first of all last year of course was a tremendous year two thousand and seventeen was the greatest actually old since basically two thousand although two thousand and four was an absolutely huge. two thousand and eight was ghastly as was two thousand and nine and predictions are this is going to be a very healthy season due to a number of factors of course household income is up wages are up and that's to do tax reform and of course many factors in the economy including job growth. and how much of the retail hillary is split between the traditional brick and mortar stores in e-commerce e-commerce is now up to nearly thirty percent and it's growing year over year and it's purported of course to grow by twenty twenty i think one of the things that we're going to see in a big prediction is that generation the millennial generation has seen a lot of attention but generation y. is going to get a lot of attention because they are by twenty twenty going to be
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a vast demographic one of the most powerful demographics in the marketplace and you're also going to see a lot of difference because you're going to see drones they say by twenty to twenty a great percentage of your deliveries to your home in that last mile will be by drones and it's expected within thirty minutes the last mile regardless of traffic and you can imagine in dense demographic areas like new york washington l.a. across the u.s. that's going to make a lot of difference. scares me a little bit hilary what about the drugs coming to our houses in our apartments etc so you know you may have answered that question with thirty percent of this being e-commerce thirty percent of the sale but other than amazon who might be the big winners or losers who actually was interesting bob is in the top ten we only have two online sales specific and that is amazon and q b c the q b c network the rest of them are all brick and mortar wal-mart and kroger costco some of the big ones kmart they're in the top ten as well and i think what you're seeing overall is
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a trend bot is the convergence the convergence between brick and mortar and e-commerce and that's what's happening actually brick and mortar of course is realizing that they must have an e-commerce component maces stock is up one point one percent macy's is up predominantly because they have embraced brilliantly the e-commerce and online shopping using an immense amount of data analytics particularly from their blue mercury line their make up line and that's seen a huge difference in their stock but you've also seen them so brick and mortar adopting the e-commerce you also see. traditional online and such as amazon now opening the amazon store so they're going to brick and mortar so it's the convergence of the two that is the biggest trend. super interesting thank you is all here we are four great c.e.o.'s mark thanks ellery and welcome i've had it. and time now for a quick pause for promotional cause but stay with us because when we return we'll discuss an international agreement on how to address and confront one of the key
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issues of our time cyber security the c.e.o. of bear software todd shipley is standing by and we talked kryptos with the crypto has been tech leader at fifty four counting firm p w c n really hard to believe these and here are the numbers of the closing bell stocks down today all across the big board back in a flash. just manufacture consent to stick to the public will. when the ruling classes protect themselves. with the famous merry go round listen to the one percent. in the middle of the
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room six. dollars. dollar a dolly is what. we got here. you know we here we care the music with us. we are you we were dragged here. by your love going to get rid of those who are not go away we will not die quietly. real the heart of what we do is the truth.
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but the politicians to do something to. put themselves on the line. to get accepted or rejected. so when you want to be president. or somehow want to. have to go right to be close it's like before three in the morning can't be good. i'm interested always in the waters of. the city. join me every thursday on the alex simon show and i'll be speaking to guests of the world of politics sports this list i'm show business i'll see you then.
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welcome back the primary whistleblower in the massive and ongoing scandal senator around the us don't want to end branch of the dance the bank seems to have dropped another bombshell by telling danish. parliamentary committee that two u.s. based banks were complicit in processing suspicious transactions linked to the tainted branch howard wilkinson as dante's former head of trading for the baltic region did not name the two suspects but estimated one of them processed about one hundred fifty billion dollars worth of suspect transactions mr wilkinson also testified no one really knows where this money went all we know is that the last
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people to see it were these large banks in the u.s. that detail seems to coincide with investigators what they know about suspicions about the roles of bank of america j.p. morgan chase and deutsche bank and helping dansby move that covert cash out of a still many international agreement on how to address and confront one of the key issues of our time cyber security is moving forward and more than fifty nations agree with that direction french president emanuel mccraw released an international cyber security plan containing principals as part of the paris peace forum last week in addition to the national signatories more than one hundred thirty private sector organizations and dozens of charitable groups and universities are on board with the effort the obvious absent here is wait for it the united states surprising maybe not so what is the agreement and how big a deal is it and why has the us chosen to once again be the odd nation out here to
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tell us as a c.e.o. of various software cyber security expert todd shipley todd great to see you again thanks for your time and what is this agreement all about. well i'm not sure that it functions the way that mccrone wants it to it's basically a list a wish list of things that he had like to see happen in the countries of signed onto it and i think that's probably why the united states has not signed on to it because there's no teeth behind the agreement there's nothing really there of any substance that's going to change what we already have. and todd what are the key things that he would like to do you say there maybe not be enough see there but is it really just policy platitudes and not much more there or is there something there behind it that might actually be important. well i think the concepts are important but there's nothing there's no teeth behind them to make them do anything there's already an agreement in place the budapest agreement from two thousand and seven that already list a lot of these things but what they want to direct is to have countries not do the
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things that have been going on for the past couple of years particularly the united states from russia in from china now why the united states does want to play in this space is yet to be revealed but part of it has to do i think with the fact that there isn't specificity in what they want to do there's just generalizations of don't do these things and be a nice person in cyberspace in the big part of one of the. platitudes is that they don't want to hack back and what that means is not defined and so i think part of the problem is that there's no real definition of what they want to do other than just say please don't do these bad things on the the world stage and don't cause a war and don't do these things to prevent other countries from doing these things and there's no real sense in what they really want all this. so it sounds like you know the rubber really needs to hit the road on some policy specifics and part of that's got to be with the private sector certainly not just big government acting
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like a big foot and telling folks what to do right. oh definitely and i think that's where this really needs to go the governments can dictate certain things to be done but the real control the internet is not by the governments it's by the companies that actually own the internet the ones that are actually doing the day to day moving of data across the internet in the control of it and those companies have to make some realistic changes in what they do and that's where the should really go not just the platitudes they should look back to what happened in budapest in the conference there because that's the controlling agreement and mcconnell even talks about it in this document but it's only four pages it's not even very long document that describes the kinds of things he wants as a wish list he'd be better off sending this to santa claus is a wish list than what he's done with it because it really doesn't accomplish anything in its current form todd we want to have you back in the next couple weeks if you have time and tell us exactly what we should be doing todd shipley the
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c.e.o. of various software thank you todd great to see our it's good to see you.


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