tv Boom Bust RT March 27, 2019 2:30pm-2:59pm EDT
with the flaming merry go round the certainly the one percent. we can all middle of the room six. rooms in the. room. later. this is pool bus broadcasting around the world in covering the world of business and finance and the impact upon all of us i'm bart chilton in washington d.c. we're so please we're honored that you're on board you enjoy spend some time with us today we've got
a great show coming up specifically as china continues to make gains in europe huawei cameras back against u.s. criticism there are monticello to take a look at how the telecom giant is planning to fight back against attempts to bring it down in danger move we'll give you the latest and look at how the markets and the public are reacting with our team producer friendship horse and conservative commentator the hederman of the university of pennsylvania fine the center for energy policy joins us to cut through the haze all that directly ahead but first let's get some headlines let's go. and major international deal for airplane manufacturer air bust leads our global report today as the european aviation manufacturer seals a deal to sell three hundred planes in china for an estimated thirty five billion dollars airbus says china has committed to paying for two hundred ninety eight three twenty models and ten a three fifty s. with chinese president. ping actually signing the agreement in paris where he met
with press french president emmanuel mccrone air bus headline making deal brings both injury and insult for us bowling u.s. competitor boeing rather air buses a three twenty is similar to and compares with boeing's troubled seven thirty seven max planes airbus success and the large and growing chinese market forms a striking contrast to both boeing's recent deadly debacle airbus stuck didn't get much of a boost on the news and is trading around twenty twenty six dollars and fifty cents per share the high for the stock was in september of last year by the way at about thirty one dollars per on three hundred sixty eight dollars per share in trading today. and there's been a significant global shift in the right hailing sector as over has bought kareem which operates in a wide swath of the world across the middle east and africa for three point one billion dollars reportedly paying one point four billion dollars in cash and one
point seven billion in convertible notes the acquisition is a major territorial who for providing access to a market stretching from morocco to pakistan while karim certainly seems to have much value for former observers have suggested may have overpaid for the deal. the internal fight over breakfast and british sovereignty is escalated to new heights after the british parliament voted to give itself the parag to voting for alternatives to the draft bret's that plan negotiated with the european union by british prime minister trista may speaker john bercow who would emerge as an increasingly engaged character in the drama announced the result of the rise of the right three hundred twenty nine the nose to the three hundred two. the guys have a oh no parliament now seems to be taking more control of a greater good. political body blows she could never hit before the vote as her
business minister resigned his post in a scathing letter to ms may be bored voting against her position on wednesday parliament will take several votes on alternative measures and hopes of at least clarifying what is currently feasible will keep you updated. and there's major corruption news out of china as the country's former top official for policy is regulating the internet planes guilty and is sentenced to fourteen years in prison the former deputy propaganda minister lou we confessed to accepting thirty two million yuan that's about four point six million dollars in bribes for unspecified favors chinese media was notably light on the details of mr lewis wrongdoing or who was accomplices were other than allusions to encouraging factionalism with selective enforcement of official chinese policies.
and from one chinese tech line to another as the us government continues to push against the chinese telecom giant while way however now the company is fighting back this time are to correspond to sarah vaughan to the oca as a story. huawei continues to fight back against the u.s. government's ban on its products and this includes a lawsuit in a texas district court just earlier this month but this time it's what the federal communications commission in a new filing to the f.c.c. the chinese tech giant pushed back and said the government's overriding telecom policy goal should be to get consumers five g. as soon as possible regardless of who manufactures the network a quick minute of the filing stated huawei is ready to help build real five g. network in the u.s. the real competition as it has stated in previous comments in the stock it while way recognizes that supply chain security in the face of a wide range of potential threats is and should be
a high priority throughout the u.s. government but as wa wait has also demonstrated in its comments all of quitman used by us told communication carriers is potentially vulnerable to threats from multiple vectors and the company went on to say that while way is not claiming that its equipment is immune to a potential threat or hacker vulnerability but there hasn't been any evidence that wall way has engaged in any espionage against the u.s. or any other country or company now in the past while way founder runs and for a has said that he's not concerned about political backlash against a company. well much of which i don't worry we only do better because they've given us such sweeping publicity and in fact we're just a small company there's nothing particularly special about it sort of formidable adversary includes a reputation we've become very popular earlier today one of the tech giants rotating chairman eric shoe spoke to canadian reporters and said what's going on is not based on facts and evidence at all it's attacking while way from
a political perspective and he went on to say it's impossible for a while way to gain the u.s.'s trust back therefore they won't waste their resources in doing so but for former n.s.a. whistleblower anyone can be a threat no more than anybody you know you know. so i mean if they have weaknesses . they didn't know about the document and we're going to fix it as they should with everybody else and even if the. device is in there to have to try to send data back and they say they collect everything on the fiber line so they've got it all anyway so you know it's better than the being able to make sense of it meantime on monday always main competitor apple introduced some of its new products they're focusing on diversified services and like video streaming and even a credit card but this is just one day before wall way held their own unveiling presenting its new p thirty phone the chinese company didn't hold back and took to twitter thanks for the warm up now on to the main event that even that event took
place in paris where it while way introduced their new five phone flagship phone the p thirty pro a senior tech reporter for business insider sean a go she said she is impressed by while he's market and their achievements in europe this is despite the u.s. ban in managing to keep sales separate from the geopolitical situation the european union wants a joint resolution and it doesn't seem like they will band walk away instead this week the e.u. plans to share more data on just how to tackle cyber security risks related to five g. reporting from to bust their mon test oka r.t. . with sales of their i phones p.c.'s and tablets struggling apple is reinventing itself into a digital service provider yesterday at the steve jobs theater at apple's headquarters in silicon valley in california in a much anticipated event apple c.e.o. tim cook on build several new features including get this a streaming t.v. video service a new subscription service on a revamped news app
a monthly gaming subscription offering and an enhancement to their financial services a new credit card tied to apple pay up in partnership with goldman sachs by the way on that one and although you and i weren't invited to the press to view these there were plenty of celebrities who were like oprah and will be producers. even spielberg just to name a couple so how will all of this go over with apple's customers joining us to discuss is conservative commentator steve walpurga r t producer brant warr thank you so much guys appreciate you being here steve this is sort of amazing stuff i remember when you and i spoke when the fourth quarter earnings came out and they weren't that impressive mainly we thought due to the sounding let's go through those if you might. all right why don't we start with the t.v. and the news the apple t.v. plus you could subscribe through that to h.b.o. showtime starz c.b.s. all access and the smithsonian channel that starts in may and you watch on the
apple t.v. app called apple t.v. channels now there's also going to be of course original content and that's why the star studded celebrity guest list that included jennifer aniston and others who are being paid by apple to be in series and develop a series of original content that starts in the fall how much original content they'll actually have is is a big question and it's also available on non apple hardware like smart t.v.'s and devices from samsung l.g. and roku as for apple news plus tim cook seems to think we all want unlimited subscriptions to magazines like popular science essence national geographic g.q. well you get three hundred plus magazines at your disposal the l.a. times and the wall street journal all for ninety nine a month and this is in addition to the existing apple news app that already has hundreds of news sites on it so that's t.v.
and news boy what a great summary steve when you said three hundred subscriptions i'm like give me a break already there's just too much information out there what the wall street journal for ten bucks a month boy would that be a good deal so we'll get to that we'll get to that later yeah ok and brant you're a gaming expert you've been on the program before and you did such a great job for us in hong kong but let's talk about apple with regard to gaming and particularly about their credit cards what's what's up with that brand all right well let's start with the important question here apple unveiled apple arcade the gaming subscription service customers of course will pay a monthly fee and they'll have access to a curated list by apple of some of their three thousand plus games they've already have in their marketplace plus they're claiming there will be one. exclusive titles on the service are just for people who are part of that service now this isn't like a cloud based gaming service like a google study that they just announced they'll still expect you to download the game from the app store on your i phone i pad back or apple t.v.
just like you normally would but there will be a flat rate for the games included in the service apple is banking on the fact that over one billion people have downloaded games from their app store so far mobile gaming has already changed the landscape of video games and apple really was on the forefront of that with the i phone so they're looking for a bigger piece of that pie now here's the important one the credit card they have partnered with goldman sachs and actually and master card for the apple card now that's they claim it'll offer no fees lower interest rates and better rewards but that it's going to be a digital card that a live in your apple wallet so if you have your phone and use apple pay regularly you use your digital wallet so it'll be on there but they say there's also going to be a physical titanium card too but it has no number on it it doesn't have the c.d.c. number or anything special all the authorization information will still be housed in the wall after on your phone your watch wherever it may be now they say there will be no late fees no and you'll fees no international fees and then apple cards
after a.p.r. rates will be ranged from around thirteen point two four to twenty four point two four percent probably around similar to what you're seeing with most major credit cards as far as the rewards go i don't really see that there's better rewards than some of these you know big amex cards or master cards that you see out there they're offering only two percent cash back on purchases made through apple pay with the card they give you three percent on any apple products you purchase but that doesn't purchase but that doesn't you know i mean only apple products does that really helps in strategy from where they've been all of these things what steve talked about in banking in gaming steve there is some snickering and criticism of the actual event there tell us about that. well there was a lot left out a lot of information that never got relayed and some people are saying maybe apple really wasn't ready for this big day for example a little thing called cost it wasn't discussed for for the apple t.v.
plus no cost for the subscription was announced how much for showtime and h.b.o. which cetera they didn't reveal how much they plan to spend on this original content and netflix reportedly spends about ten billion dollars a year well apple top that it would've been nice to know how much content well they have and the new service which we mentioned ninety nine it doesn't have it does have that tag but the wall street journal for instance which you marvel deaf or ninety nine you get the wall street journal forget all the rest of the stuff that's great you're only going to get reportedly although they didn't say this feature content and some news you're not going to get the financial content from the wall street journal that's what the journal is reportedly saying so again there's no price on the gaming on this the apple arcade so you know how could you have that conference and leave all that stuff out yeah you're absolutely right and a deal killer for me if you don't get the financial stuff i've got
a little bit of time but how is this impacted stock so far for apple it appears that prior to the event we witnessed a little bit of a spike in their numbers but it's kind of regulated back a bit too little over one hundred ninety dollars per share following the high in august of over two hundred twenty there was a pretty steep drop of roughly twelve percent in december that was due to lower than expected earnings report from apple and also investors were having a little trouble speculating over the ongoing trade disputes with china and how that might affect manufacturing of the flagship by phone but it appears to be back on the upswing and i headed toward those highs again really brant you poor and steve malzberg thank you guys what a great fascinating discussion appreciate it thank you. and bed bath and beyond the domestic merchandise retailer located in the u.s. canada mexico is back and they had lions today as activists investors have threatened to replace the company's entire board their whole board upon the
announcement the company's stock actually shot up twenty five percent look at that it would be crazy numbers right almost a vertical spike there is trading open this morning following the news their shares jumped from thirteen dollars to seventeen dollars a change it by the way the company went public back in one thousand nine hundred ninety two when the share price was just a single dollar but the price shot super high up to almost eighty dollars to get eighty dollars in two thousand and fifteen time now for a quick break but hang here because when we return we've got lots more coming up with bill hederman of the university of pennsylvania's climate center for energy policy he's back this time we'll talk about u.s. oil production going up up and away as our global emissions will help us cut through the haze as we go to break.
one else seems wrong. why don't we just don't. let me. get to see. you still can't answer. and it gets you close to trail. when something you find themselves floats apart we choose to look for common ground . there's a tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has been poorly implemented but that socialism has been great only implement inside venezuela things are different we're going to announce
sanctions against the troll venezuela associate. famously son of the moment do you think that person that. data to see on the people of the moment the focus of the who story isn't new makes him cold henry kissinger to tell him that not be tolerated in latin america. an alternative economic and social system could take hold and therefore the policy would be to make. economy scream so wants now making the economy of venezuela screed.
welcome back purdue pharmaceutical the infamous maker of the addictive open addictive opioid oxy cotton and the company's founding family the sec or us have agreed to pay to pay a settlement of around two hundred seventy five million dollars in a case brought by the state of oklahoma over the marketing of that deadly painkiller the new york times reports one hundred million dollars of that total we paid by purdue to an addiction treatment research center at oklahoma state university the sec lawyers have separately agreed to give an additional seventy five million a slated amount goes directly to addiction treatment the settlement comes as a secular name had become increasingly taboo in the world of philanthropy and the arts as we reported globally renowned museums including new york's guggenheim and the tate national portrait gallery in london have both rejected or further denied donations or returned past gifts from the sack. and a super sized deal is underway in the fast food sector as an american company
mcdonald's has acquired dynamic yield that's an artificial intelligence ai start up based in israel although the value of the deal has not been officially released the wall street journal estimates it will exceed three hundred million dollars making it mcdonald's biggest deal in about twenty years the burger giant plans to apply the technology to revamp drive through experiences ideally the company would like to technology to alter advertisements to fit outside factors like the weather for example the software also generate on screen suggestions for your menu based upon customer's order history mcdonald's stock took a huge jump after the markets open this morning on the news but sense of cooled off a little bit with more than thirty seven thousand five hundred locations and more than one hundred countries mcdonald's is one of the largest fast food chains in the world.
the united states increased oil exports by more than seventy percent last year to just over two million barrels per day and now and some say that's just the beginning by the way and now in fact the last four weeks the average has been three million barrels per day by the end of twenty twenty that figure could rise to five million barrels but it's a current search situation with the oil landscape here to help us out we are pleased once again to be joined by bill hemmer men of the university of pennsylvania's climate center for energy policy welcome back bill and spar so. is this piet the sky the last time you were on we talked about the permian basin and about the exports from the permian and those resort to some crazy numbers but thinking about going to five million per day just a couple of years i mean a year in you know ten months or something like that is this pile in the sky or is it a reality it's a possibile. you know this is the kind of growth that can happen when things shift
in a radical way but a lot of changes have to happen probably the biggest one is more take out capacity from premium and we just saw a jump in the price at the wellhead in the permian area because a couple of pipelines opened and so if you get that bottleneck upstream of the bottle and that can foul things up so if they get the capacity to move it out of the gulf it can happen but remember that's a gross number and we still employed. by the way when you talk about the take out that's how much we take out of the permian that's exactly what we're talking about last time you were you're on the program about that bottleneck but you looked like it was going to be done there adding all this new expenditures and pipelines and i remember you were telling us say that these pipelines can run for thirty forty years so there are companies making
a big investment in the long term future there let me ask you you know we have spoken on the program many times about opec and russia putting these production caps in place theoretically at least to keep oil prices high i think west texas intermediate today i didn't catch it exactly at the break but it was almost sixty dollars right before the show fifty nine ninety five and we may have the one your chair we have a one year chart there but my question to you bill is. how is opec and russia going to continue keeping down their production when the u.s. is like more more more more more almost like with reckless abandon a lot of this turns at this point on the independent producers in the u.s. and explain that why isn't the majors so the major production and they also produce a lot from overseas but there are
a number of independents that are pretty low in the us and these produces there are the marginal producers so if the price goes up they produce more prize because down they cut back because they're on a much shorter cycle and how they invest and so various so it is it is it really about fifty percent are independent some of them as you say are bigger that i that's an interesting figure to me i didn't know it was that high i want to go back and check the numbers but it's between fifty and sixty percent of the majors and so you're saying that you know a major and they've got lots of sway they can move things around a little bit but those independents are pretty much cyclical based upon prices prices are higher they produce more yes and part of it is because prices are higher than they can get more financing to make it happen bill there is a i want to make sure i get this right because there's a new study out today international energy association study that says that.
c o two emissions have increased again on two point three percent rise in energy demand so when the un says that we should be doing everything we can to deal with climate change. but we've got this problem with the missions should we be what should we be doing and should governments our government other worldwide governments be looking at rebalancing our energy portfolios what do you think well it's. if we want to get the carbon emissions and there's pretty broad consensus that that's a good idea you know the we have to shift away from the high emission fuels and the high in mission fuels first and foremost coal and secondly oil gas is also an initial and mission source but about half of the emissions from coal. so shiftiness away from coal it would be
a good idea unfortunately in the emerging country emerging economies they can't afford that and i thank you so much bill great. thanks all of mine you will see you next time take care. to your circus or nightmare take your pick seemingly settled says he's been exonerated but the political left in much of the media do not concur where do we go from here and will the investigators.
yes that you know. we all options are open. just so you understand all options are on. breaking news this hour. president tells moscow warning. british prime minister says that she will resign but not before she delivers briggs's. war between the us media and president trump rages on despite the long awaited miller report concluding that there's no evidence of sparring with the. school in the west bank is raided by israeli soldiers with children. held at gunpoint.