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tv   Boom Bust  RT  May 10, 2019 12:30pm-1:01pm EDT

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with our chief correspondent boyko who'll be here to break down the reaction from european countries as they try to salvage the international nuclear deal. as officials are in the states today talking trade on the eve of more major tariffs but can they strike a deal archies ceremony because they'll go lenses to him to get to the bottom of the bluster what is the social impact of technology. on the block. joins us from singapore to break it all down all of that directly has but first we have. new u.s. sanctions on iran lead our globe report today is president trying targets iranian exports of precious metals mr trump signed an executive order to that effect on wednesday and issued a statement boasting that the sanctions imposed on iran's aluminum copper steel and iron would apply to ten percent of iran's export economy the administration also pointed out that precious metals are iran's largest non-petroleum related source of export revenue an assessment supported by expert analysts u.s.
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national security advisor john bolton has led efforts to isolate iran and the wall street journal reported this week mr bolton had pentagon planners to present options for an attack on iran to get a closer look at how individual european nations are reacting to the increased sanctions on iran we go to r.t. correspondent holly boyko in london of the e.u. has put out a statement saying that they strongly iran to continue to implement its commitments as it has done until now and rejecting any ultimatums issued by tehran they said that they will continue to assess iran's compliance and there's even been sort of separate talk of sanctions from individual european states emanuel macron commented on what happened a little bit earlier on and he's actually always been a tougher end of the scale in terms of his stance towards terror on. but he
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basically says it's time to renegotiate so quite a trump approach that from the leader of france but washington has of course slapped new sanctions on iran particularly its a metal trading and donald trump has reiterated that he wants a new deal the the current one isn't fair in his opinion the europeans have said despite all this throughout the past year the they want to stick to their deal they want to make it work and they are trying behind the scenes there appears to be big diplomatic efforts to try and get something going and to keep the deal alive but washington has been making it very difficult over the past twelve months for example the americans on just punishing iran with renewed economic sanctions no they have secondary sanctions as well that means that they are threatening to
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target any foreign companies that deal with iran effectively saying you're either with us or against us and you can work with both washington and tehran and you can guess which side big multinational corporations are opting to go for when push comes to shove and europe has tried all sorts of complicated mechanisms to circumvent washington's roadblocks if you will in terms of doing business with iran over the past year the net result of all european efforts to make this work has really been very small and tehran has said that europe's help has really amounted to moral support and evidently there is frustration in iran hence this announcement that they would be partially suspending its commitment to the deal giving europe sixty days within which to decide. what's actually happening with
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reporting for boom bust i'm from london. checking in with the u.s. china trade so barbara chinese vice premier league is in washington today as promised for continuing talks earlier today chinese officials issued a delayed but firm response to a new u.s. terrorist set to take effect on friday a prepared chinese statement warned if the u.s. tariffs are implemented china will have to take necessary countermeasures a chinese commerce minister e spokesperson sought to frame china as a good faith actor in contrast to the bluster from the white house telling reporters vice premier a little husband to the u.s. demonstrates china's responsible attitude and sincerity at the same time the spokesperson added china is fully prepared for all kinds of possibilities. and here to delve deeper into the details of the rising turf rhetoric is our two correspondents are among welcome sir but if you're having me so the markets are
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watching today as we approach the deadline before imposes tariffs on nearly all goods export of from china will we reach a deal well kristie the clock is ticking and markets have actually bounced back in hopes that a deal will be attainable now just this afternoon president trump in a statement said that we'll see but i really have no idea what's going to happen yesterday at a florida rally on once a night he basically said that china done a lot of the commitments that it had already made on the agreement but take a listen to what mr trump said earlier today. i think things are going along pretty well there but a large group delegation headed by one of the most respected men in ties to frazier's of china will be coming in today they started five o'clock and they'll see what they could do but there are alternative is an excellent one it's an alternative i've spoken about for years well taken. well over one hundred billion
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dollars a year we never took in ten cents from john another ten cents and it will be i think it will be a very strong day frankly but we'll see you just heard mr trump saying we'll see but again like you mentioned chinese ministry of commerce issued a statement that they're saying that they're prepared to retaliate against these tariffs if implemented by the deadline tonight. well it sounds like there's some more mixed messages coming from the white house and even in that statement just a week ago there were high hopes it looked like everything was on track for an agreement and then suddenly we have this threat from the white house for more tariffs that are happening tomorrow it's hard to handicap why the white house makes any particular move but why why did why do you think we saw that happen this well apparently over the weekend the chinese were making certain changes to the draft that had already been met which is why president trump said that china is breaking the deal and ringing but china really just does not want the u.s.
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to control the rhetoric or the terms of the agreement because that affects them as a country now this can come back to kind of what we've spoken about before where it's the trust issue of does the u.s. trust china to not only make an agreement but to comply with it and china and u.s. run a very different government so that'll be interesting to see how about but president trump did mention this afternoon that he received a beautiful letter from his chinese counterpart xi jinping but saying that let's work together let's make a deal here really the clock is ticking so we only have a matter of hours and there's a scheduled dinner for this evening where light hisor will be meeting with vice premier li you ha so we'll see and follow in the next hours to see of a deal is struck right and this brings up in an issue that christi you and i was talking about last week sort of the chosen attitude of negotiating here that you know if you want to pressure china to to to give in to more us to means being this
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belligerent may actually make that more difficult because how could they possibly could they would seem to be humiliated after being treated that way exactly it goes to a point that it's like a part of our honor it's a way that they do business people are people on you're supposed to treat them with respect so you don't issue things like a deadline out of nowhere that seems to be very aggressive and that actually escalated everything to this point that we saw in the market markets worldwide have actually dropped like almost four percent while. why i think they're worse but they're not responding to ultimatums and these threats and they said that they are they can see these terrorists as manageable for the forseeable future so they're not afraid of the tariff that might be imposed at midnight tonight they will see how far this goes archie correspondents are months as they're ok i think through time. you know the good the bad and the should be broken from big banks to facebook
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archies oh it's mail of the latest news from toronto. alex let's start with some good news here we all know when it comes to its had japan has been a leader in this in this sector for decades now japan sa thank as we previewed last week is doubling down on putting together a second tech fund in hope of. success in the first division fun what can you tell us about those latest developments. now that's a pretty much on the heels of the first fund which was the vision fund they raised one hundred billion dollars with that putting a lot of money into tech companies giving tech companies all an alternative really to the i.p.o. by basically giving the money to grow themselves and getting to a point where they feel a little bit more comfortable possibly to i.p.o. just to stay within their realm and just become bigger and stronger as time progresses so this was very successful and what would you get out after a vision for you while you get vision fund two and they want to raise another hundred billion dollars for the second fund the chief executive who yoshi sun
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softbank is saying that there is demand for this he's hearing it from investors so his goal again is to find these companies these tech companies that are around a billion dollars valuation and to invest in them he wants to go across the board he likes these startups and that's what he's heading out he was very successful the first time around and they're going for that same type of thing the second time around now arguably the first fund boosted banks annual operating profit by eighty one percent anywhere you turn it the vision fund did very very well and here's a graphic that's going to give you an idea of what companies are involved in this in the funds that's it mentioned to help raise these type of companies that give you a bit of a boost and most i guess of the most importantly is what who are these companies how big are they well look at this list you have in there and we know that mover tomorrow big day the i.p.o. this company soft bank has
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a lot of money invested in there and of you might have heard of the we work space with basically you go there. i have an office it's a virtual office you don't have to have a brick and mortars anymore you can just basically go in with your crew and work out of it we work space so these are a very modern way of thinking new high tech ideas that are pushing forward and softbank is giving them a boost and they're breaking money on the first vision fund looks like they'll do the same with the second. has always been known to have an amazing eye for knowing what an emerging tag and the markets are asking for his hit rate is spectacular but let's go down to the bad news now about one hundred amazon sellers had their cash stolen by hackers how did that even happen. dan was on what we're talking about our merchants here a substantial fraud campaign phishing that's how it happened basically these guys from what we can see we haven't got that much information about this from what we can see fishing camp a you know when you get those e-mail saying you know the crown prince of someplace or send your e-mail to wherever give us
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a little bit more information that's what happened not really an amazon thing lesson learned for these merchants don't do that don't fall for it so lesson learned for all of us that's how you lose money. and let's get to what the kids these days would call the t. in this in this news today the founder and co-founder of facebook chris hughes printed this op ed in the new york times calling for facebook to be broken up and having some very critical words about his fellow facebook co-founder mark zuckerberg can tell us about that. but he says he's friends with mark zuckerberg and we know that but he's saying that there's just too much power in this one companies and this one. most importantly here we're looking at data privacy political influence in the spread of misinformation that's what these points that choose is trying to push forward facebook needs to be broken up according to him this guy zuckerberg as we know is very very powerful the princes who sort of sort of hew school so as far as to see that he has more power than any private or public
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sector entity out there obviously when you look at facebook it's estimated it controls up to eighty percent of the world's social network revenue massive percentage that's what you call a monopoly and huge things that that needs to go away. interesting r.t. correspondent alex miller thanks for joining us. chevron has tapped out of the bidding war and will not provide a counteroffer for anadarko petroleum occidental will be acquiring anadarko for thirty eight billion dollars seventy percent in cash twenty two percent in stock and chevron will receive a one billion dollar baby break up the four anadarko are walking away the market is now applauding chevron for not escalating the bidding war and shares are popping three percent in early trading as c.e.o. market worth explained winning in any environment doesn't mean winning at any cost very disciplined words however oxy c.e.o.
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is facing chris a criticism from angry shareholders who got denied a vote on the deal the crown prize of the bidding war is anadarko's sole access to more than nine hundred square miles in the permian basin and the acquisition well may also want all the top players in the second largest oil producing field in the world despite technically winning the war oxy is now down six percent and trading at a fifty two week low. time now for a quick break but hang here because when we return what is the social impact of the . technology. joins us from singapore to break it all down. here are the numbers of the closing bell.
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there's an international economic forum is a unique event in today's business world. over the last twenty one years the forum has become a leading global platform for discussing the keys economic issues facing russia emerging markets the world. business community members attend a forum to address today's vital issues. watch our special forum coverage on r.t. . the see on his attorney when i. was a little kid. it. was a rule you. got to know people it's you posting it's with me. that's
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the thought of you. if you're. going to. give. this is a sticker from the water bottle found in the stomach of a fish the brand is part of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad ones there are the litter bugs are throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. special projects funding. on the. phone now
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the mountains of moist only grow higher. welcome back checking in on the troubled currency beat the turkish lira has taken another tumble this week falling as low as six point two four to the u.s. dollar the lira has rocked last roughly four percent of its value this week but the turkish central bank has been notably reluctant. to apply the orthodox remedy of an interest rate increase to stem the lira slide and the related problem of one thousand percent inflation present and one of turkey meanwhile has railed against high interest rates and seems to have secured strong influence if not defacto control of the turkish central bank the bank now seems to be trying to get some of the results of a rate increase without declaring one the central bank has effectively tightened the supply of lira by suspending the one week week repo options at their lowest
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rate of twenty four percent the bank expects this move and changes to foreign currency reserve requirements to take about two hundred million dollars worth of foreign exchange liquidity out of markets. on the eve of their initial public offering and one day after a driver strike right hilling started has chosen to settle claims brought by board than sixty thousand drivers demanding that labor recognize their status as an employee's hoopers business model designates drivers as independent contractors under existing employment law not status imposes costs on dr years rather than and the issue has been central to complaints about low driver wages and demands for change across the so-called good economy who are drivers accuse the company of misclassifying them in order to shift cost on to workers who were disclosed in paperwork filed with the u.s. securities and exchange commission related to the i.p.o.
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that it expects to pay between one hundred forty six and one hundred seventy million dollars to settle the claims of misclassification perhaps even more importantly put investors on notice in the filing that a recent court decision on classification in the case involving dynamics operations west could require costly cation of drivers as employees thereby shifting costs from drivers to the company. we speak about blocking technology a bunch and for most of the discussion they are about the financial sector and cook their currencies although certainly not always well r.t.s. producer brant job or got a great look at how the supply chain with regard to food is beginning to use the block chain and the example that they use is mangoes of all things brand sat down with ali but haji check it out. so it's used in a lot of different ways right in this is where a lot of people are only looking at the group decided they're missing i think what's the bigger picture of what's evolving on the box inside and so there's
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a lot of great use cases of on the private enterprise side you're seeing government start to look at this in a very interesting way central banks are looking at this in terms of how can a body or a few currencies be digitised potentially and perhaps you're seeing companies i mean an example the wal-mart on supply chain they've put a cork on their supply on the supply chain with i.b.m. and chin why university they've also bought mangos on the supply chain which is has substantial savings they were talking about just as a quick note i mean at walmart going from a seven day transaction audibility time on traditional supply chain for mangoes to two point two seconds there's massive savings are you saying to see with companies using voc chain today for a layman explain to me how you bring mangoes to the block shared exactly right and so this is where it's fascinating right so you take the existing process rights you've got it you obviously have a lot of different people involved because you know all the way from the seed to
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the plantation planting you've got obviously then the growing and the picking of the mangoes you of course want to be tracking like what type of seed was used you want to see like what type of new change was a given like so this could impact for example of different types of organic foods was it organic or not organic and taking the information it's already being gathered putting it into the blocks in which allows multiple parties to see this information the same time and allows you to track certain products very effectively through the block change so if you take this with food which is very interesting right you could have food outbreaks i mean you've heard of like a cola race you've heard of other types like melamine outbreaks in other things that could be in in certain types of food that humans can't consume that might create outbreaks and national recalls and with this sort of thing imagine the ability for all of these things that are already being tracked are just. on the block if you can track that item all the way through all the way from that farm to table or for word like to the consumer and now you've got an outbreak it's very
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quick for governments or regulators to start doing sampling starts or you know start doing a number of tests like in labs or d.n.a. tests or whatever it is on it on a number of different products say these products are all fine these came from these farms these products all got flagged these came from these farms and tracking it through every supplier that touched it and those farms and then be able to shut out all of that to stop an outbreak in a much quicker way so like a couple of years ago we saw it was there so i figure salmonella an outbreak with chipotle way only served cola coitus that so and the problem was that we didn't know where the source was with the block chain we would then be able to figure that out exactly and so it is very interesting writes in two thousand and fifteen they had an acoa outbreak and it resulted in them not being able to figure out this was terrible practice this resulted in a forty two percent decline in the stock price of the time of billions of dollars lost and yeah and the problem would be when you do that d.n.a.
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sampling they don't have a clear set of records or all the parties are sharing it internally not publicly but internally between all those parties so that they can trace exactly where these products are coming from because obviously every store has products from hundreds suppliers right how do you know when that specific item came in which suppliers attached and which farm it exactly came from and this is where the vosh and can create that single source of truth in real time across these parties and your are ready seeing companies like wal-mart really leverage these benefits and so how does the technical aspect of actually tracking there i mean it feels like that's what it is it's a tracking system and if that's the right exactly so how does is it just there where a let's use lettuce as an example or less is mangoes because. we started with barry goes when a bushel of bang goes somewhere we know where it goes it's scanned everywhere every
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step of the way yes it is never everything so right now you will have part of that standing process right but where does that information go like sometimes we're talking about going into a computer system of which there's a number of different computer systems probably dozens and dozens of pieces of the tree all these different parties all the different logistics providers the grocery stores have their own system right all these different systems but we're also talking about a lot of times there's paper based things that are happening there tablets getting signatures on paper and that's what's important so like the old putting all of this into a system where all of those parties can now access that information certain parties can put information into that system but they can't change the information in that system right so they can put information into system so now that you have this layer of information that all these parties can see in real time you can track where are those mangos if you're the grocery store and you want to see you know did it leave the farm yet whether weeks i think that it is there are delays with their shipping delays etc you can actually see all of this information and update
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a way where you can see it but not change it. that was fascinating and i mean the ability for block chain to actually be managed up supply chain that efficiently i feel like that is actually going to be one of the biggest game changes especially for things like the medical industry or maybe like the insurance industry we have so many people from different companies who don't have access to the same data and they require to do their work and in the example of fresh produce you know that's something we're obviously ripeness and getting it to market as soon as you can is critical and getting the maximum profit out of it and you know certainly mangos fresh mangos are very like. well we'll see what takes us next that's it by this time you can catch boom bust on directv channel three twenty one dish network count up to eighty or so. twenty four seven on clear t.v. the free t.v. ad channel one thirty tales or as always hit us up at youtube dot com slash two most r t c next on.
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the. after the previous stage of my career was over everyone wondered what i was going to do next the multiple different clubs on one hand it is logical to sit in the home field where everything is familiar on the other i wanted a new challenge and a fresh perspective i'm used to surprising people and i saw one on t.v. . i'm going to talk about football not three or else you can think i was going to go. by the way ways of that slide here. seriously fulfill a period of sort of little schedule it's just foolish bloody. good you might begin
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the minute you did it was my go to the. loser because it's a field. goal of a good enough that all you want to go to the banana that is a little silly was stuff you think you'll know ball. enough well it was pretty good way to listen to old crow but you're still too much because you know i'm going down but i come. here until you lose your money you don't need to storm the lead here so i'm i looked up from her during the clue a trick of comforters smirk a. dream agreed to. mission which i'm old enough to remember there was and most of my family were unemployed. and it wasn't it was bed you know much worse objectively than
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today but there was an expectation that things were going to get better. there was a real sense of hopefulness there isn't today today's america where shape my the ten principles of concentration of wealth and power. reduced democracy attack solo down to engineer elections manufacture consent and other principles according to no i'm chomsky one set of rules for the rich opposite set of rules from. that's what happens when you put her into the hands of a narrow sector of wilf which will is dedicated to increasing power for itself just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america.
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you know world big part of the new lot and conspiracy it's time to wake up to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bath shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. in twenty forty you know bloody revolution to correct the demonstrations going from being relatively peaceful political protests to be increasingly violent revolution is always spontaneous or is it you know lawyer here i mean you know let's put video and put him in the eye. spilling needle 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
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these and other goals that will ensure a secure and prosperous and democratic. was . not. a fully u.s. government security analyst is facing up to fifty years in prison after being charged of leaking classified documents on u.s. warfare tactics to the press. human rights activists attempt to block all the shipments as sounding arabia as concerns grow of the weapons are being used against yemeni civilians. and what you are you all do with it why do we continue to support countries that exhibit disrespect for
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international behavior and why do we continue to fuel the wall.

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