tv Boom Bust RT May 8, 2019 1:30pm-2:01pm EDT
to speed up talks and squeeze out a few more concessions after a volatile trading session on monday worldwide fears appear to be waning as it became clear that full size are still talking the shanghai composite and the homes that were both posted gains in overnight trading that sigh of relief was short lived however as president trump's top advisers are now accusing china of really negative on previous comments and going back on language that they previously negotiated on in retaliation trump declared he will be increasing terrace on two hundred billion dollars worth of chinese goods this friday the tenth issuing a hard deadline and showing that he was serious on twitter vice premier league you will meet on thursday to negotiate and he will be looking for assurances that the threat of terrorists on friday is not real at the same time china is also preparing retaliatory to harrah's on u.s. imports should trump carry out his threat a sudden terror increase would be less than a week notice with severely disrupted u.s. businesses especially small companies that have limited resources u.s.
markets are down and the vix also known as a fear gauge is spiking thirty percent up today on fears of a full blown trade war however the response from china has been rather muted and china the three major news outlets the romane the ball the ball c.c.t.v. and the shank was to not cover or mention the new developments and washington sina the biggest finance news outlet in china said the markets were affected by information but they did not elaborate and talking to friends and shanghai they explain that we chat the messaging app is currently censoring and blocking images and news of trump's tweet when it eventually got circulated many people were actually in disbelief wondering is this fake news and then you know like how imagine how much you feel if you just suddenly woke up this morning and the markets crashing and falling and you go to your news outlet and there's new known is that you think it's fake it's fantasy to think about what happens when a minute. the message and sort of bluffs get played have to filter through
a very controlled media environment it's very hard to find reliable information i imagine yes that so many business owners actually were very confused over this on tell in the afternoon that the promptly actually got circulated so right now a lot of people in china are actually actively discussing this and private forums however we chat and all the other news outlets are now being currently censoring the news and they can see two new boom bust for more. and the turkish lira is sliding quickly again in turkish financial markets are following after turkey's supreme allied tora bora an old the results of the recently oral election in the major city of istanbul the opposition republican people's party won the election held on march thirty first delivering a major blow to president to one's ruling justice and development party or a k p the a k p m president or the one whose political career began when he was elected mayor of istanbul immediately began pushing for another chance to secure
their preferred electoral results in istanbul the european parliament's ruppert tour for turkey warned this ends the credibility of democratic transition of power through elections in turkey earlier today the lira had fallen by more than a full percent since the announcement of a new election in istanbul approaching six point two to the dollar before rising slightly the turkish b i e s t one hundred stock index was down by nearly two percent before we covering to about one percent one point six percent loss at the close an analyst with fitch ratings told reuters the election and continued currency troubles could convince the agency to downgrade turn turkey's sovereign rating currently. and jumping from turkey to mexico we previously reported on president address manuel lopez obrador as efforts to plug the leaks in the pipelines belong to a state oil company pemex those efforts to cut off corrupt pemex employees organized crime and petty thieves. included replacing pipelines with delivery
trucks in some areas leading to some bottlenecks and long lines at filling stations but now official figures from pemex show fuel theft falling by ninety five percent in the month of april giving almost some dramatic results to show for all that inconvenience the latest figures from pemex show average daily volume of gasoline stolen fell from a one thousand barrels a month before lopez obrador took office to just four thousand stolen barrels per day in april timex estimate that estimates that change reduced losses from fuel theft in the first quarter to seventy nine million dollars down from five hundred seventy three million in the fourth quarter of ten twenty eighteen. and stay on the topic of oil we'd like to welcome maggie warner currencies and futures i simpler trading reggae welcome. thanks for having me cars so we want to tire about the bidding war right now for anadarko petroleum is definitely heating up right now as occidental revised offer up to seventy percent in cash and twenty two percent stock
by offering more cash occidental will no longer have to seek approval from shareholders to purchase anadarko and this makes this offer a way better than the one that chevron had so what do you make of this latest move this will definitely increase oxys leverage so are they being desperate here. i think there's a billion good reasons why we're seeing this this deal whole lot better it's a thirty eight billion offer versus chevrons offer thirty billion even if the deal is rejected and they end up going with c's offer they will owe chevron about a billion dollars so i think what's interesting is warren buffett you know there's not been a lot of conversation about where warren buffett plays into this and he was willing to invest up to twenty billion to make this deal happen he's got a sweet deal about one hundred thousand shares at an eight percent dividend and so i think with that kind of backing chevrons probably going to say well there's there's other fish in the sea and i think that's what the markets. singin in the
dark which trades currently that offer price so right now chevron has until the end of this week to respond and as you mentioned there are plenty of fish in the sea so who'll what other acquisition targets are there for chevron at this point. i think some of the broad strokes would be some of the obvious players i think siobhan will sit on the side of me right now where we're looking at a fifteen percent premium for an a darko compared to other players in the area but i'm thinking parsley pioneer or possibly concho but i think sharon will take their time i mean neither chevron nor nor you know now what was missing with oxy needed shareholder approval so there's a lot of skepticism there with the cash offer both for bringing but i think those three pioneer parsley in concert could be interesting ones for chevron sometime in the near future chevrons definitely not the type to of our bed but when that with the new offer from occidental if you think that there are still synergies that play here. i think right now the main synergy at play is that you look at warren buffett
willing to bankroll you from ten to twenty billion i mean that was what he publicly talked about this past weekend that the berkshire hathaway shareholder meeting so i think when you've got that kind of backing it's a big boost to the permian basin i mean when buffett says this is the real deal and is willing to spend that kind of money i just don't think the story is a whole lot bigger than those ten billion dollars one hundred thousand shares that a percent dividend i mean he's willing to spend the money to invest in that area so he's he's bullish on the area and so again i don't think chevron comes back with a counteroffer i think they'll look elsewhere but this is a very good boost for the area and i think it's very bullish for investment and it's interesting news for folks that are looking to invest in that area not just buffett but folks mainstream folks thinking is the real deal it sure is right and right here we want to get i want to get your take on some breaking news today the
u.s. state department's secretary of state mike pompei it was rescheduling a sit down with chancellor angela merkel and this news came just hours before they were about to meet a u.s. spokesperson cited generic pressing issues in the relationship but we know one pressing issue in the u.s. . germany relationship is this controversial nord stream two pipeline that would go from russia to germany which the u.s. opposes what's the status of that controversy that fight in your view raji and this of friction between these allies going to continue for how long and how is this going to and. i think we've seen a lot of interesting between angela merkel even what's going on with venezuela right now the u.s. is pretty pretty active right now what's going to happen and i think right now the big interest is not just energy when it comes to venezuela but natural gas when it comes to this pipeline and the relationship russia has with germany we are in the u.s. looking at very high natural gas export possibilities so germany would be
a huge client a huge win for the u.s. but right now there's definitely this battle happening between the u.s. and russia for who germany will purchase that natural gas from so this is i think a pretty big win for russia at the moment and certainly the u.s. is stepping in because they want that now to gas going to europe and germany is one of your biggest buyers so i think i'll be keeping a very close eye on this but right now natural gas self has been a short and i continue to stay pretty bearish on it. are not a currency that features as far as simpler trading thank you so much for your time . thank you. to the surprise of some boeing seven thirty seven maxwells are not lifting europe's air bus and the airplane manufacturers fight for market share and air with the latest scandalous revelation that boeing engineers knew of the seven thirty seven
max aircraft's safety risks long before tragedy struck their boss continues to muddle through the set by internal problems and unable to maximize on their rivals astounding run of bad press with more knowledge and a hell of it in toronto. alex let's start with the boeing situation what's the latest we're hearing about the some thirty seven max in the aftermath of these crashes. a little bit shocking when you when you think about a boeing knew about the problems with the airline just months after releasing the first plane and this was back in two thousand and seventeen when we saw that crash in october two thousand and eighteen lion air it's a jakarta based company in the sea of indonesia and then of course ethiopia just this march so you know everything working up to the next that this was a massive issue and it's an issue with a system in the plane as a safety feature which warns pilots if there's problems with sensors and basically it where is the nose of the plane of the sensor to go berserk the pilot should know that this is going on so the fact that they knew about this and release this plane
and let this plane go to market well you know has a lot of people scratching their heads like why would. people died and what we're talking about though the one flight the open air lines and of course the line air flight one hundred eighty nine people on board. it's a very sad story when you see corporations just push out these airplanes in not think twice about it. and as boeing struggles of this tragedy and bad p.r. airbus still i think can't seem to catch a break what's happening that no with airbus i mean their problems are more internal so when you look at airbus it's about efficiency it's about profitability it's about trying to catch up to boeing and what boeing does right and that's it pushes out lots of planes and it does it efficiently air bus has a big issue with doing that now airbus has a new generation of planes everybody seems to like that would be the a three twenty neo there's demand for but they just can't seem to catch up with the demand so looking at airbus right now even with the awful situation that boeing is in they
just can't seem to take advantage of that. and how are the issues that both companies play out in the stock market. the stock market oh it's funny we look at the pattern here we have a graphic for you and you know it's pretty similar what's happened in past month of these these companies i mean they're really not you know the things are changing that much you can see the waves going up and down now today we're looking at airbus they're hovering around thirty two dollars and seventy cents on the nasdaq. dropping by the early two point five percent when we look at boeing drifting around three hundred fifty six bucks dropped about four percent so look at the numbers go up and down it all seems very similar between the two companies but again boeing is a more powerful player out of the two even when you hear all these awful stories going down and you know safety is a huge issue to consumers obviously it would be nice if it was a major issue with the aerospace companies as well i'm sure it is but it has to be more important when it be nice r t correspondent alex male of age thank you thank
you. time now for a quick break but hang here because when we read. one thing than bearing off into a new venture well that new routes up and lauren fix the car coach get behind the wheel and there's a. leader although railways may seem rustic new advances are being made on the tracks our team producer brenda bora brings us the latest from the rail tech conference on capitol hill and as we go to break here are the numbers at the closing bell. in a world of big partisan. and conspiracy it's time to wake up to
dig deeper to hit the stories that made history refuses to tell more than ever we need to be smart we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to fight for the middle for the troops the time is now for watching closely watching the hawks. after the previous stage of my career was over everyone wondered what i was going to do next about different clubs on one hand it is logical to set off on fields where everything is familiar on the other i wanted a new challenge and the fresh perspective i'm used to surprising people. why not if you think. i'm going to talk about football not the or else you can think i was going to the.
by the way what is it that's like here. in twenty four you know bloody revolution is here to clear the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you're still here. in the new bill is that i'm still a needle in the former ukrainian president recalls the events of twenty four g. and. those who took. it invested over five billion dollars to assist ukraine in these another call that will ensure a secure and prosperous and democratic. kerning to another angle of the global trade brawl the administration reportedly will
impose tariffs of seventeen point five percent on tomato imported from mexico and the expected. harris follow an official ninety day notice from the u.s. commerce department in february declaring intent to end the tomato suspension agreement that had held back the u.s. retaliation for alleged underselling of mexican tomato mexico's deputies economy minister said she expects the tariffs to be imposed today and warned that the tariff is going to be directly transferred to u.s. consumers a study from arizona state university by the fresh produce association of america says that the terrorists could increase prices for tomato prices for u.s. consumers by forty to eighty five percent. and there is more news in the one m. d.b. scandal we touched on yesterday the us a master to malaysia a kilometer in la due has announced that u.s. authorities will send a total of two hundred million dollars believed to have been deliberately skimmed from the one m. to be fun to malaysia fifty seven million dollars of that amount has already been
remitted that incremental cash was risk recovered after following the tangled path from one m.t.b. to red granite productions the company responsible for the oscar nominated movie wolf of wall street u.s. prosecutors believe a total of four point five billion dollars in capital was siphoned from one m. to be. workers at oberon that are striking in the united states today ahead of hoover's planned i.p.o. on friday the call to action came from the new york taxi workers association and white teeth of a member llama said in a press release and i feel file is over said drivers will only get more dissatisfied because they plan to cut our pay and stop incentives big economy is all about exploiting workers by taking away our rights it has to stop hoover is the worst actor in the gig economy drivers plan to sign out of the ride hailing out for a relatively short work stoppage from seven to nine am this morning and why t.w.a.
posted three strike demands including an end to unfair the activations of drivers and adjustment. the so-called upfront pricing scheme to guarantee that eighty five eighty to eighty five percent of fares go to drivers. and here to give us further insight into the world of ride hailing and automobiles we welcome back lauren fix the car coach i learned. hello sell on the back of list and now do we see car pocalypse approaching they're making car ownership also elite and we're moving towards a transportation as a service kind of a model in the us car registrations have now declined by ten percent and tire sales a huge proxy for vehicle productions are also down in china can we potentially see a head start decline in car ownership here. i don't think you're going to see a decline in car ownership i know it's easy to call it what i call it carmageddon but i think the facts are that people keep their cars longer and if you look at the
songs here at least in the united states you're looking at a twelve year ownership window before people start looking for new vehicles so you did see a rise in sales two years ago and seventeen point four million then it was seventeen point one million right now we're projecting of course we haven't got all the numbers in yet but we're looking at like sixteen point eight million as of projected average sales here in the united states on a global basis china auto sales are down and the reason that they're down is because they were kind of me is hurting because they're playing a tariff game with the united states and it's basically to put it this way a mexican standoff where they're trying to negotiate but as they negotiate china is playing hardball but now so is president trump so until this is resolved the impact on the chinese country and their people and their ability to purchase vehicles is obviously part of the problem but again putting vehicles on the road in china is a different situation they put a thousand cars and were on the road which is a lot of vehicles and some point they can't keep filling up the roadways with cars
or they keep restricting that so you're going to see that impacting on the overall sales also you should note in china they don't sell their cars every three years and. this is like we do here in the us they tend to keep them and pass them down to other family members and no lauren there was some bad news for luxury auto makers this week porsche got slapped with a six hundred million dollar fine cheating on its emissions test yet another emissions cheating scandal and b.m.w. reported a seventy eight percent decline in operating profits during their first quarter big chunk of that loss came from the one point four billion dollar legal fine over missions and they're struggling to adapt to the new electric car market tell us about some of those developments. well i think that they are adapting very well to the electric car market looking at the audi each one in the jaguar i pace for example that is out selling tesla in the most of europe and so when you're looking at the numbers you're seeing that b.m.w. mercedes are also coming out with their own electric fields with the i three i think that electric vehicles really are taking hold i talking to an executive from
toyota just yesterday in person he told me if you look at electric vehicles there really isn't a high take rate in the u.s. and without the incentive on a global basis the people tend to not want them the reason for this suffering for b.m.w. and for a v.w. group which includes audi and porsche and other brands including skoda is because when you lie to the federal governments of every single country about diesel emissions and then you get caught it's going to cost you and there is finally the end of this diesel gate situation and i should disclose i own two diesel porsche and i love them and they do work as promised and pass emissions but when you live along the way to get there i think this is where they're hurting and they're going to pay the price they will recover they do have a great product they're not going anywhere unlike tesla who is having a lot of troubles with cash flow these manufacturers will make a difference in future quarters. so real quick tesla is the leader of electric vehicles now however they have been struggling to their part of horrible our new
low delivery thinking demand and to try to fix this basically they're trying to pivot over to insurance is the on must creating more of a mass that he is actually cleaning up. he's creating more of a mess he did have a relationship previously with liberty mutual where was insure my tesla and it was sort of that was his little program and it got very expensive as a mere factor partner in hong kong so that they had to triple their rates because of the cost of repairing these vehicles and that number came out to be twenty times of that of insuring a mercedes e. class so by coming up with your own insurance you need insurance company behind that that's going to be very expensive i think that's just another way to raise money you're never going to see tesla having their own insurance company they don't have their own leasing company right now and they're taking a loss they need to be raising money in order to keep the company alive and right now they've got a lot of other issues to deal with and essentially you're looking at a lot of investors walking away from the brand it's always funny when they try to
fix their problems with another problem lauren fix the car coach thank you to my spare time. here i think. here in washington leaders from across the rail industry held an event on capitol hill today to showcase the ways they can improve safety throughout the system one of the most crucial advances is positive train control a system that can override an engineer if they were to make a mistake. were attended the real conference today and has a story. a perfect world locomotive engineer. operate a train they've been trained to do from day one and never have to really see the system in a right here on capitol hill representatives from throughout the rail industry. are showcasing off how they use new tech like artificial intelligence drone technology
and even smartphone apps to improve the quality of safety on the rail not just for passengers but also for employees and we thought bridges and tunnels would be one of the coolest uses of the technology and the people out of harm's way so the idea of a bridge and specter putting on fall protection and climbing over the side of the bridge is a very old idea that maybe we can improve upon using technology where we can fly next to a bridge and get a very close up idea of what's going on and how the person that's looking at all these images and videos on the ground with two feet firmly seated and looking at a screen we have five systems across the network that kept up pictures we saw about two hundred fifty trains run by these systems each train generates a mark three thousand images and roughly every seven hundred fifty thousand images are data then we are teaching using ai models are building models that can look at a picture and find a defect in the so anytime we can improve efficiency you know where we're able to
to create a better operating ratio so there's a lot of data we collect we have four thousand sensors across the network where we collect thirty five million reading sparred day there's a lot of potential to use machine learning and predict the steve facts ahead of time so that we can still rank these before they become issues of before we have to stop the pain there is even a new app called ask rail that provides police firefighters and medical professionals with all the information they need about hazardous materials on each train car in my early in my career we had a carbon decile fight incident in charlottesville virginia in the heart of the town we were trying to find out information we were getting conflicting information from different sources in this case in the seconds instead of hours we have the information in our fingertips as to what it is what we need to do with this it means responders can act more effectively more quickly in all. means that our citizens are freed up more quickly from this instant we mitigate it quicker in our
community goes back to normalcy much. reporting from capitol hill for boom bust branch of war r t america. that by this time you can cut the must underactive it can operate twenty one dish network out to eighty or screen twenty four seven on her t.v. the free t.v. at channel one thirty pm or as always have us up at youtube dot com slash two most r t c next time. what is it call in sick when is magic internet the new type of digital currency the centralized digital scarcity chancellor i'm bringing a second for a bank that's called the genesis blog for reason to coin a civil disobedience a source of optimism because i can control my own financial destiny it's just
a new way of coming to consensus is a game changer in the human history and this is columbus discovering the new world this paradigm shifting technology that transforms economics and finance in a heartbeat the apollo eleven landing on to the max and stacey. is this is a stick from the water bottle phone in the stomach of the fish the brand is sponsor of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers they're the bad ones they're the litter bugs are throwing this away industry should be blamed for all of this waste the company has promised to reuse the plastic. soon. found in maine that seems. their place. christie cost me all my entirely new phones at national projects funding he tells me to close on i'm your best bet is the end
of a footy team but fun now the mountains of waste only grow higher. this is a period of sort of. swallow fifth first but if. i might need it it was my go to the. losing is its ability. to get rid of that all you want the stuff to go to the banana at us that it's a liberal socialist that would make. it up well it was pretty good way to lose the . kind of what you stand to which could go out on me. but i. mirrored to your room if you're going to go did you storm the lead here for my look from moods or bears or did in the clue trick of crafters summer.
during the great depression which i'm old enough to remember there was most of my family were unemployed people and other wasn't it was bed much worse objective listen 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 where shade by the turn principles of concentration of wealth and power. reduced democracy attack solo douched engineer elections manufacture consent and other principle holds according to know on. one set of rules for the rich opposite set of rules from. the. when you put her into the. narrows
sector of will which will is dedicated to increasing virtue of just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. iran partially suspends the twenty fifteen nuclear agreement to give the signatories to its sixty days to shield the country from u.s. sanctions as washington reiterate its threat to hit e.u. companies working with the ramp with financial penalties. reaction in europe seas from threaten iran with sanctions over its part withdrawal while other e.u. nations are calling on surround to refrain from taking any aggressive steps. also this hour dubbed as the biggest election in decades in south africa polls show the incumbent ruling party set to hold power we look at the implications of what could happen the country. runs for lanka toughens its.