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tv   Boom Bust  RT  March 19, 2019 2:30am-3:00am EDT

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this is boom bust broadcasting around the world and covering the world of business and finance and the impact upon all of us you me the guy behind the tree everybody i'm bart chilton in washington d.c. and we are so please i'm honored to have you with us thanks for joining in and coming up today some say the best way to get out of a hole is to first quit digging right well dick's sporting goods wants nothing to do with that strategy as far as the negative impact on revenues as a result of slowing sales of assault oil rifles and ammunition danielle shea of simpler trading joins us to discuss it a few other companies including netflix is in the news today was. the tourists and last time tourists from the middle east don't know how many point you know hotels on the avenue are less than before and we had sixty percent less just
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on one of steps with some of. the yellow bester they continue to protest in the store on the streets of paris as president much more prone to enjoy snow snow can you believe it is on a spinning trip can't make this stuff up also examine how the marches have been able to stomp on markets artie's medina coach brings us the latest on the plight of news from the french capital and later there's a new gunslinger sauntering into game town as goliath google is set to challenge the video game market conservative commentator steve walls were joins us to consider if google has the true grit to topple today's top gaming companies all that directly ahead but first let's get some headlines let's go to. a major merger which could shape the global online payment sector leads our report today as fidelity national investment service or f.i.o.s. . acquirers payment processor world pay incorporated for thirty five billion
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dollars in cash and stock the deal is structured to give fidelity fifty seven percent of the merger enterprise with world pay taking forty three percent stakes fidelity national from a should serve as a c.e.o. gary norcross emphasized the size of the merged company a statement saying quote scale matter is in our rapidly changing industry our two powerhouse organizations will offer a customer driven combination of scale global presence and the industry's broadest range of global financial solutions world pay stuck was up sharply on the news jumping more than one hundred more than one hundred ten dollars per share in trading this morning following the announcement. and moving from business mergers to political summits present harb also narrow of brazil is here he's in washington three blocks away at the white house this week to discuss a bunch of things with president donald trump during the duration of his trip mr
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balsa narrow aims to bolster economic and military alliances with the u.s. and according to reports there's three key reasons for the visit including one u.s. exploration of your rainy and nuclear investments in brazil to the u.s. use of the alkan terra rocket launch site on brazil's northern atlantic coast which serves as a hub for many satellite launches and is operated by the brazilian air force mr burleson era will also look to bolster brazil's tourism by seeking waivers from u.s. vsa requirements for u.s. citizens. after that horrible school shooting in parklane florida over a year ago dick's sporting goods started to reduce they started to stop the number and type of firearm sold at their stores including not selling to anyone under the age of twenty one and not selling assault style rifles and. high capacity
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ammunition magazines no firearms whatsoever were sold at ten dick's locations well the company had a bad year last year from a market perspective down pruett two percent on revenues to eight point four billion dollars the c.e.o. at least in part to those reduced firearm sales well now the company is doubling down and going to stop selling even more guns and ammo here to discuss the move in the impact upon the company and its stock as a director of that support trading danielle shay danielle welcome back oh we love having you on and we've talked about dick's before it's such an interesting story they're going and they said they're going to actually drop their hunting gear including firearms and ammo from another hundred twenty five stores by august that's about seventeen percent of the stores retail locations and when this was announced a few days ago the stock really took a fall eleven percent to around thirty four dollars and fifty cents per share although your day the stock was up twenty five percent so and it still trading
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around that thirty four fifty so they're still positive through the years but from a business perspective i mean should they stop digging what do you think. so i have two different perspectives on this part because first of all looking at the top stock chart just like you said you know i fell in love and percent after the last announcement over the course of the past year it's been you know really trading within a range and on a weekly chart i can see a lot of consolidation so to me it looks like it's going to break out of that consolidation were guarding the actual issue at hand the problem is whenever a publicly traded company takes a stance on anything political you are going to alienate the people regardless of what you do so for me i thought the biggest issue with sticks in the stock price do you think there are just you know doesn't want to have anything to do with it ed stick the c.e.o. there you think you just say you know look my my policy position on this is going
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to really for lack of a much better word trump my business interest in this thing. well you know it's really interesting for me and it's difficult because on one hand i completely respect that he is trying to do what what he thinks is right and he's taking a stance on something that he believes and while at the same time when you're a publicly traded company you do have to actually look at that how that's impacting your stock price but i would say that you know dick's has quite a wide array of products that they sell and so maybe he's looking at that and saying you know what at the at the end of the day it's not impacting my bottom line you know danielle i was look at some figures earlier today and. gone in and munitions stores in the united states did eight point six billion dollars in business this is a twenty six thousand figure. and a lot of those a lot of these firms you know they're not sold at the big box stores except through their their stores the mom and pop places you know not the bell is in the dick six
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. do you know about wal-mart of we see any any data is wal-mart stopped early slowdown on selling firearms at some of their big service centers and we know one thing about that. so wal-mart is definitely an interesting comparison because while you look at dick's and you say hey you know it has about seven hundred fifteen stores wal-mart you know i've got over four thousand stores and they do sell more firearms and wal-mart than they sell in dick's so i can i can see that having a potential impact but just like you are stating the majority of guns are not sell sold in big box retailers so i think that's interesting that they're taking the lead that dick says already made and we're going to see what happens but at the end of the day wal-mart has wal-mart us wal-mart international sam's club very wide array of services so i think they should be all right by the way when i use that eight point six billion dollars figure that does not include things like pawnshops
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and gun shows it's a lot brighter than that number daniel let's shift to netflix because there was a very interesting story about how j.p. morgan chase researchers think that disney disney will ultimately stream more than the current sultan of streaming netflix the company netflix has been doing pretty well for the past year trading coincidently at twenty for the last year they are at three hundred sixty five dollars per share a great price when you think about it over the year what do you make of netflix. so i love netflix here i mean next netflix has been the leader as far as digital streaming as concerned i'm personally a long necked flicks i like it for a trade up until at least the four hundred dollars price point and ideally to new highs the thing that netflix has behind them is that they they really started this game right and they're going about it backwards in a way that now they're creating their own content well disney is doing it the
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opposite direction disney has been creating their own content for years and years and years and now they're going to go and create that streaming service so i actually think that net disney is going to have a leg up here and they're going to be huge competitors and i like them both for a long term buys because of it ok well you answered my disney question there and we just got about a minute but i want to squeeze in one more quick one here adobe the cloud computing giant the company took a dive the other day after weaker than expected earnings what do you make of adobe . i love adobe here i think that the fall on earnings is a great opportunity for a buy the move they have made into a software as a service company is huge for their profile and the adobe creative cloud you really can't beat it so i like adobe between two fifty and two fifty five for a buy it's a new all time highs then yeah we sure appreciate you being on as always the end of the director of options is simply trading thanks daniel. thank you.
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and turning to europe there is good news for workers receiving the minimum wage in greece and spain as the two nations have recently boosted their minimum wages by roughly eleven and twenty two percent respectively unemployment remains high in both countries with spain most recently measured at fourteen percent and greece that eighteen point five percent both countries have been steadily boosting their minimum wages in recent years to differing results spain has been growing fairly quickly though not quickly enough to debt those structurally high unemployment numbers as reported recently greece has been hamstrung an effort to get their economy started again by new demands from the european union for an austerity budget and other measures to reduce labor negotiating power backers of the wage boost hope that the rising minimum wage will put a stable floor in domestic demand and consumption under two of europe's shakier economies both countries have also elections coming up we've talked about those they're coming up this year and as the government of greece and spain have sought
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to raise wages just next door to the iberian peninsula protesters took to the streets in paris to protest what's called the government's use of austerity and regressive tax implementation as a yellow bester is movement that raged this week and yet again near the arc to try and present mccall and sought to avoid defeat at the hands of protesters taking a markedly tougher stance on their actions even going as far as to call this weekend's events quote a damage to the republic r t correspondent dina cochon nova is on the chandeliers say and brings us the latest developments on the damage from the french capital. one of them. something to say after some extreme riot saying that happened here on saturday burnt alledge kiosks graffiti on some shops and saturday windows i think are reminders of what happened here just two days ago the press asterisk we're throwing. rocks right into the windows of the shops they also used amal itself
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cocktails flares and even pieces of pavement to damage some buildings overall pretties say that over ten thousand people gathered here and among them fifteen hundred extremists were identified over two hundred forty people were arrested and some eighty shops think looting some luxury ones were vandalized the french president kwan was forced to cut short his skiing trip to attend a un emergency meeting as he summoned his top security minister and the country's prime minister also tweeted that what happened here on saturday was the work off not protesters but criminals the french president said that it was not a demonstration it has become a national security threat and now here in france the local officials are working out and use such measures how to avoid and nother wave of extreme violence here on
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the streets of paris and yellow vast separate tacet for the eighteenth weekend so now it is unclear what may ease the tension and stop this violence here in the french capital. and it's time to squeeze in a quick break but stay with us because when we return there's a new gun slingers sauntering in big game as the goal why is google is set to challenge the video game market conservative commentator steve walz burge joins us to consider if google has the true grit to topple today's top gaming companies like bin tendo microsoft and sony and before we take a look at markets here in the u.s. we take a quick glance at the cac forty in france to see how it's been faring in the midst of those yellow vests protesters take a look at that dip around mid december the protest movements kicked off in late november as we were just talking about and then as a protest continued over the following weekend the. reflected in the index outlook
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that's a huge dip their in december at the height of the protests but the cac has managed to rebound in the past couple of months and actually up year to date and for the last year on a haul as we go to break here at the u.s. numbers at the closing bell we'll be back in a flash. on . a shot i had to get up on soldier that i. suppose i was honestly had
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left it out of the ground but it wasn't. the publisher of. the bush. years and it down so now we're going to take a second around you and send a resume and then i will tell you who committed the passage who says there were four isn't and never was not opposed to the next. one else truths seem wrong why don't we all just don't call. me old but yet to shape out these days to come. to add to. equals
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betrayal. when so many. choose to look for common ground. drool oh oh oh oh dear it's pretty slow. moving been a real good shot to begin murders like. become some sort of cross community young people are deciding if they want to not like their parents not like them liberals. always struggle. you always have problems but you're not able to focus and walk is the most ubiquitous going out there most police departments use it almost over stores in the schools tell to take could get their hands on economists in twenty four hours. through it to each of these kids both racism both
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police brutality taking pride and there are these kids are a part of history. and welcome back catching up with the organization of the petroleum exporting countries or opec member states seem to be agreed that they don't need another meeting coming up and april as previously scheduled instead opec members have decided to leave production quotas at their previously calibrated levels reportedly planning on leaving those recent cuts in place until at least june as we've reported russia signed on as a de facto non opec partner on the production costs negotiating with saudi arabia from within opec opec's purse spokespeople indicated that their decision makers felt market fundamentals have not changed significantly since the last adjustment
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to the opec spigots many within the group are also reportedly waiting to see evidence of what affects the u.s. to push venezuela that overthrow that government will have an sanctions again. iran will have won global oil markets before revising the question of output quotas as you may have seen when we went to break west texas intermediate trading to new york mercantile exchange was trading around fifty nine dollars per barrel today brant crude in london traded at the intercontinental exchange was trading around sixty seven dollars per barrel today. and other oil sector news royal dutch shell has signed contracts with the governments of two government to govern expiration of offshore energy deposits shell will invest at least one hundred million dollars in offshore areas which cover about eight hundred eighty thousand heck to acres of surface water that's about two point two million acres in the caribbean depending upon the success of that process investment could eventually top six hundred fifty
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million dollars these options for these areas known as blocks took place under these procedures called created ex expedited procurement the president of columbia's national hydrocarbons agency said quote the signing of these contracts revalidate the confidence of oil investors an exploration of our offshore resources in the caribbean. and we reported some major financial technology or fin tech news is our lead story today and there's more on that this time from china the people's bank of china or the said over the weekend that it plans to develop a set of rules to govern and regulate centex and we've come a memoir when cost low and managing systemic risk china is a vast frontier for fin tech with millions of workers having only recently entered the banking and finance system and many more are already in the pipeline at the same time many industry observers say china's fin tech firms will need firmer
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regulatory and support infrastructure from chinese policymakers to maxim why the technology potential this includes the areas of block chain and crypto currency that we spoke about china is seeking to have a set of rules and regulations in this space is a big huge development and we'll have more on the story of potential impact in the coming days. and there's a new gunslinger sauntering into game town as google is set to challenge the hundred forty billion dollar video game market conservative commentator steve walz we are joined to discuss hey steve we're so glad to have you on this and what an interesting and fun thing to talk about what do we know so far about google i know you haven't released anything but you've been digging around what do we know well tomorrow in san francisco of art they plan on making their big announcement i'm a gaming expert from
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a far by watching my son over many years set up his game box hooking it to the t.v. buying a game at a store and sitting down in front of the t.v. for hours playing that game well google is going to let users stream games to their own devices and you know smart phones laptops say or streaming box that connects to the t.v. if they wish and they're calling it cloud gaming so this could revolutionize just about everything in the gaming world well that is a differentiator for sure if you just go into google and you're getting it right right there and so obvious attribute but i mean how else might they distinguish themselves when you think about the big players there you think about. you think think about nintendo and. sony and microsoft i guess but i mean how will google other than that one thing which you mentioned going right from google's platform how else will they distinguish themselves to the eight hundred
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pound gorillas already in the space well they hope to reach a whole new audience because now like i said my son and everyone else will be able to just use any device and any screen all it takes is a phone a computer or a tablet and of course an internet connection no costly console like playstation or x. box no you know buy. a game of downloading a file to the console it all change according to google and experts are calling it kind of a netflix for video game streaming so that that's going to be the appeal you know games on the go but i was talking to people here in the studio before i came on what are you talking about today and i described it to them they said really i mean now i could play games across in the street walk in and they'd sit in the car take in the train it opens up a whole new world. when you say it is reminds me of all these people you know back in the day playing candy crush walking across the students and about to get picked off by inadvertent drivers well let me ask you i mean some of these ideas have been
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tried before assuming a lot of upstarts but will this differentiator in google just having that you know direct access to customers you think fettled make the difference. yeah absolutely you know this is this is been tried first of all google has actually provided a taste of this with their projects stream where where the games are they streamed assassin's creed odyssey on a web browser microsoft and amazon they're reportedly working on the same kind of game services microsoft has been selling game console for a long time and they're they're working on a game streaming platform and it's called x cloud similar to google's plan and for decades both microsoft and apple is on have used the cloud to run these games and there are reports out there part say amazon is building a cloud gaming service and in-house gaming studio that they have called new world
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which works on p.c.'s but could expand to streaming as well so it's a it's a competitive world out there you know i'm just thinking about it a little bit as you're explaining it i mean and i love your you'd be a great don draper in games on a good games on the go what a great advertising title steve but when you think about that differentiator being that they have immediate access to the clouds and every cloud and everything i mean i think there's a lot of people out there who say i don't want to be in the cloud only playing games in the cloud do you think there is a significant segment of people of my to say i'm not looking to store my games in the cloud or is that just something they probably are concerned about no i think this this is going to fascinate a lot of people you know some of the drawbacks that customers are going to need a very fast internet connection to stream these games the video is a g four service suggest speeds of fifty megabits per second for full h.d.
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quality google needs to make sure it's cloud service is able to react quickly enough google doesn't really have any games out there apart that's a big problem sony microsoft nintendo they have a library there's no in-house content no you would talk about disney earlier and that flick. you know we now scott that they'll have to partner up with someone like rockstar for get you know a for a game theft grand theft auto or higher right you know they've hired a team member of sony's play station development in europe and that certainly would go a long way in helping them you know develop some content because they're going to certainly need it while we look forward to following it and i want to talk at some other time steve about you know how this might impact intend and microsoft will have to go off to talk about and sony of course steve walz we're conservative commentator what a fascinating discussion thank you great to see if my pleasure bar. and that's it for this time thank you for being on board with us we can you can always catch boom bust on you tube dot com boom bust our teeth catch
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a streaming twenty four seven on pluto t.v. that's the three t.v.'s channel one thirty two that's it for this time c n x time so long for now. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics. during the great depression which i'm old enough to remember there was most of my family were poor working. there wasn't it was bed you know much worse objectively than today but there was an expectation of the things were going to get better. there was a real sense of hopefulness there isn't today today's america was shaped by the
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turn principles of concentration of wealth and power. reduced democracy attack solo doubt engineer elections manufacture consent and other principles according to no on trumped one set of rules for the rich opposite. that's what happens when you put her into the hands of a narrow sector of will which will is dedicated to increasing power virtue of just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. as an officer. to get up off the ground to serve began to pay. them freeze on the sounds of. a grown man mislead essentially the officer of the
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bag through his baton. rouge twisted away from the officer been once missed and then would have been done so he swung at the observations didn't hit him i never saw any contact with you do you any kind went back to where they were so the asters back here there try again fifteen feet apart at this point and that's when the officer his guy needed time three. you know if i can say that i for example all the brooklyn bridge and i and i sell a bond against the brooklyn bridge myself a billion dollar multibillion dollar bond against the brooklyn bridge while they actually somebody's going to come and say ok well deliver them the brooklyn bridge and i say why can't i have a deed just like in the two thousand a subprime crisis there were no deeds for the houses that goldman sachs package says collateralized brokers obligations and then sold into the fashion market and the wholesale derivatives market where they didn't have the deed they were just
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making stuff up by pulling rabbits out of their hat and selling that. one i'll see this morning different priorities was facebook too slow to stop the spread of video of last friday's mass shooting at mosques in christchurch but to swiftly deal with political views it seems unsavory. if i put certain stories about certain political issues i am shadow of bad so. that's what my
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concern is when we continue to ban these kinds of things can ban this kind of stuff that's only going to perpetuate shadow fanning. the venezuelan government announces the so-called occupation of its offices in the us of the diplomats for the opposition volume control of the comes. on the russians are going to try to accuse of money laundering appeals for release from custody in greece after being held for more than money.

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