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tv   Boom Bust  RT  May 14, 2019 11:30pm-12:00am EDT

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britto in washington we're glad you're on board coming up turbulence is on the rise in the middle east as yet another saudi oil facility comes under fire shaking oil markets david make any of the calvin financial joins us to drill into the details plus the trade war rages on but what is the impact across the pacific. institute for china america studies lend a hand to analyze chinese markets and later players under fire as yet another court ruling comes in against the chemical giant archie correspondents are among those following the case and bring us the latest on bayer stock reaction all of that directly ahead but 1st we have some headlines. a claim of responsibility for an attack on the saudi oil facilities leads our global report today as who the rebels from yemen say they are behind a drone attack on the east west pipeline near riyadh a spokesperson for the rebels told the associated press this is a message to saudi arabia stop your aggression our goal is to respond to the crimes
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they are committing every day against the yemeni people saudi arabia initiated an overt military intervention in yemen in march of 2015 contributing to the development of what experts in organizations call the world's worst humanitarian crisis officials and saudi aramco said that the east west pipeline was temporarily shut off after the attack but supplies of oil and gas were not affected this marks the 2nd incident in recent days of a confirmed or alleged attack on saudi oil infrastructure. and for a closer look at global oil prices in the wake of this attack we're happy to welcome david mcnally the needs of macau the financial david welcome to the show. thank you daniel good to be with you now 1st david markets are absorbing the saudi claims of attacks and sabotage right now in the claim of responsibility from the rebels but before that there was the problem of the collapse of u.s. china trade talks. what about the effect of that already having on the markets is
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that still resonating and should we expect more gyrations in markets as the u.s. and china jockey for position in the wake of that breakdown. i think the trade talks are a very significant contributor to volatility in the markets certainly you see some of that in the oil markets but the gold market the treasury market the u.s. bond market the vix is showing a lot more activity here in the last week or so and you know the approach is very different if you look at the chinese approach they are wanting in all or nothing approach to the agreement and the u.s. is kind of checking the boxes if there's 5 things that they want to accomplish they start going down the list and taking them off hoping to get through the list and there is kind of a comparative analysis between the trade offs between each of those points for the chinese and it is kind of an all or nothing approach so i think we have a long term. negotiation still there and plenty of volatility in the markets even if they do resolve it this is a little bit like the japanese back in the eighty's we were back and forth for
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years before we got to the plaza accord in 85 and speaking of further shocks from this should we be looking to more shocks to global oil and energy markets from this process if and when one the u.s. and china definitively walk away from the table or to if and when the effects of the terrorists actually sink in both in the u.s. and in china. granted without permission granted as we saw with the expiration of the allowances for importation of iranian oil which ended here just in the last week or so the chinese are continuing to import iranian oil they've basically said this is not a permission granted deal will do as we please the indians and another a number of other governments have clearly gotten on board with the u.s. agenda but the chinese have drawn a line in the sand and said no we'll make our own policies thank you and getting back to this latest news what has the market what is your assessment of the market reaction to this latest news. with the who claim responsibility for the attack on
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the east west pipeline how would you characterize market reaction on a scale from reasonable to irrationally panicked. it's reasonable i mean you've seen some movement in the price of oil but you're talking about a pipeline that carries $5000000.00 barrels a day could be up to 6 and a half by next year and the reality is it didn't cut off supply for any period of time that would have jeopardized the world oil market so yes i'm concerned that there's a vulnerability but no no real panic because it's it's fairly well under control now turning from saudi arabia to another oil power mexico the state oil company pemex as they have secured $8000000000.00 in credit from lenders including h.s.b.c. j.p. morgan in mizuho securities president underestimate well lopez obrador signed the paperwork for the loans at his regular morning press conference and pemex the c.e.o. said that is the deal is structured in a way that will not actually increase mixes debt burden what's your take on the
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details of this deal and premix his prospects for dealing with $100000000000.00 in existing debt. daniel i think your last point is the most critical one the way the fact that it has to be structured in a way that it does not add to the debt burden you're talking about breaching certain levels that would bring the pemex debt into junk categories and cause real problems for for the company moving forward so the fact that wall street has to be brought in to create creative structures for finance lines of credit work around those debt limits tells you everything you need to know very interesting and quickly moving to south america shell says they're told the business publication by laura canonical they're going to ramp up their investment in brazil to 2000000000 dollars annually by 2025 is that a good bet what's behind that decision. it's an important that for the company you know when they took over b.g. group not long ago they took on a significant onshore and offshore. so with
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a $52000000000.00 purchase you definitely want to monetize some of those bigger assets and brazil represents potentially $12000000000.00 recoverable barrels so it's worth pursuing from an exploration and production standpoint absolutely ok very good insight david knott galvanised c.e.o. of my calvin financial group thanks for joining us. thank you daniel. and in the wake of us the breakdown of us trying to trade talks both sides are jockeying for position earlier today u.s. president donald trump called the current impasse a little squabble before asserting quote we had a deal that was very close but then they the chinese negotiators broke it mr trump also said he and chinese president xi jinping will speak at the g 20 summit at the end of june the chinese foreign ministry now says that u.s. officials the real the talks with last minute demands for a major increase in the amount of u.s. goods china would commit to buying. and joining us to give some additional insight
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in the current and future effects of the trans pacific trade telcel on the chinese economy group the senior policy specialist for the age of pacific region at the institute for china america studies mr group a group that thank you for joining us now 1st many published reports are carrying these signals from white house spokespeople and aides that mr trump president trump seems to want to bill want to at least on the signal that he has the upper hand here the u.s. economy is hot and that he thinks the u.s. can easily afford in cost from the chair fight and china will have to sue for peace at some point is that an accurate assessment if that's what the president is thinking and what should the president know moving forward about china's economy as he makes that choice well the chinese economy has been soft for the last couple of quarters it has basically bottomed out and it's now on a slight upturn so the chinese economy is not going to get any worse it will get better but it will get better perhaps slowly what a. i see president trump as doing is trying to maintain what he feels is his
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leverage in the negotiations and at the same time. press it on to the chinese that they need to come to the table with a good offer but of course china doesn't necessarily see it that way in terms of how the talks have been broken broken down broken down but have paused temporarily and so at this point of time we are in the end game to an extent and it's about both sides posturing and trying to find leverage. and on the chinese side there's been some noticeable bravado on the chinese side in the media and state media a presenter on c.c.t.v. referred to 5000 years of tribulation in chinese history and essentially characterize us challenges just one blip in those millennia of history what does this sort of talk from the chinese side tell us about their thinking are they preparing to blame an outside actor of the pause in the talks persist or is this
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a sign that they really mean what they say that they're not afraid to stand up to the united states. i would frame where the chinese are going as having 2 strategies a communications strategy for political purposes and a negotiating strategy for the current negotiations i think there are good negotiating strategy if they're very open minded and they would want that to succeed but if that does not succeed they want to have a political strategy in place on a communications strategy in place suggesting that we will not be overawed by what the united states is doing but it also goes to show how to a relative extent how importantly china is treating the issue that it would bring in its 5000 year history on and on our trade policy topic where it's a more long term thinking perhaps going on the chinese side and quickly what is your big big picture prediction up or down for the chinese economy in 29 scene at the end of 28 and we saw a lot of signs of the slowdown piling up more mixed messages perhaps and reason.
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weeks from china and europe what do you think is the prospect for chinese economy in this year i think the prospect of the chinese economy is steady and improving of course it will depend to a large extent on what the trade what happens on this in the strait conflict but i would say of the more important facet to bear in mind and even from china's perspective for the chinese themselves is not what happens in this cycle necessarily the commitments that are being made on being made so that china can transition to a dead end in death led did feel that economy to a more productivity led economy over the next 15 yards and if this opportunity is filled in these trade negotiations that journey becomes harder so we must look at it from that perspective even though i think they can tide it out even if things go badly in this excellent perspective surat group the senior fellow at the institute for trying to america studies thanks for joining us. time now for a quick break but hang here because straight on the other side bayer is under fire
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again after another quote walling comes in against the chemical giant are to correspondents or monsters the oka is following the case and brings us the latest on the reaction on bear stock price and as we go to break here are the numbers at the closing bell. join me every thursday on the alex salmond show and i'll be speaking to a guest of the world of politics or business i'm showbusiness i'll see that. you know world big partisan. and conspiracy. to wait
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to dig deeper to hit the stories that made history media 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 truth the time is now we're watching closely watching the hawks. we've got an amazing situation developing here in america one of our politicians has it openly admitted to congress that the us dollar is that spread from. the southwest to see only. one who.
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was a mule they give. those who know people who see opposed to it's going to reproduce . and. that's the time to get. this finished if you give. there's been another legal turn in the court drama surrounding monsanto and wife a seat there are controversial and potentially very costly products made by their subsidiary bayer a.g. and marketed under the brand name round up here with the latest in the cases r.j. correspondents or months as the oka who has been following this story closely so this is. this is the highest dollar amount awarded to
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a plaintiff in these cases since the litigation has started what can you what can you tell us about the how this is affected the market well let me start with the stocks that fell 52 percent week low heading an almost 7 year low bayer has lost pretty much 44 percent of its value since merging with monsanto after on monday a jury awarded a couple 2.0 $55000000000.00 it's like you said this is the highest amount that's been awarded this is a case that monsanto is involved in and the state court said that monsanto determined monsanto weed killer caused by the chemical the using round up by the chemical and gradient which is a quite a say that caused the elderly couples hopkins lymphoma and that one of the plaintiffs said that she just wish she would have known of this threat before having used it so let's take a listen to what she thought. we were. about
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to do. and there was something on the. danger may cause cancer. we could have. around but we wouldn't have used it but i'm sure a lot of other people would choose to. and. they were. because from there. we feel that it was incredibly. so sara we heard there from just one of the plane to spare there are hundreds more so where do their cases go from here well there are still about $3013000.00 plaintiffs awaiting trial and they are said it's going to fight every single one of them they are says that they stand with the e.p.a. that says that these levels of by for sate are safe to use with ground up but other organizations like the world health organization and 2015 has said that this life to say the herbicide is possibly carcinogenic to humans so we'll see where the rest
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of the trials go from here but be sure that bayer is going to fight every single one of us will keep a close eye on r.t. correspondents or months as a joke at thanks for joining us. the financial times has revealed a flaw in the what's app messaging app that allows spyware to be installed on a targeted mobile device with a phone call the spyware developed by the and a so group of israel reportedly can be installed even if the target does not answer the phone call she points out that an s o was recently assessed at $1000000000.00 in a recent leveraged buyout involving the u.k.'s novell pina capital group an associate press tumors include intelligence services and their main product called pegasus is a program that can collect data on mobile devices and turn on microphones and cameras what's ups corporate owner facebook is believed to be working on a patch to stop the israeli spy ware meanwhile facebook stock was down on the news but has been slowly climbing back up
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a look at that dip on tuesday morning as the news broke. and staying on the digital b. facebook's fellow tech giant apple could now face monopoly lawsuits from customers following a 5 to 4 ruling from the u.s. supreme court according to the verge the decision says i phone users can now sue the company on antitrust grounds based on apple's sales of policies at their store experts and claim that those policies are violate the principles of fair competition. the reason it's lawsuit is that it has found a way allegedly to charge more for its apps than it could in a competitive market and if that's true that has really big implications for consumers because consumers spend millions probably billions of dollars annually on these apps. fell on the news driving around 10 points or nearly 5 percent that did see some gains later tuesday in trading on the nasdaq. and can i
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watch in technology get food to your door faster and fresher domino's pizza singapore and malaysia is banking on just that by partnering with singularity net a leading company to improve their most pressing supply and supply chain and logistical challenges are down the singularity not chief marketing officer we've come on to discuss the innovative deal. here today your work with domino's pizza in southeast asia. to basically help the supply chain move more efficiently tell me about what you guys are doing yeah happy to so i think the partnership with them in malaysia and singapore as a pilot is to really help equip them with some of the algorithms that would allow them to do the daughter door delivery as efficiently as possible and if you look at the broader delivery landscape and how it has evolved with new technological innovators like nobody grab all of these partners that have come on board you
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really need to be able to serve customer demand sometimes in an anticipatory way so you understand what they are likely to purchase but also in a very efficient way so that your promise of delivering something on time is going to be met and that includes understanding you know several different data input so what's the weather going to be like how are you going to route out drivers on time as efficiently as possible how do you make sure that the pizza is as fresh as possible and the customer gets it so all of these would be combined into a nice algorithm that would allow them to effectively deliver. the efficiency scale . i mean working with domino's pizza this is a large pizza chain throughout the world how receptive have they been to the idea of what u.s. pros initially and now where we are today yeah i think one thing that's really unique about food service providers our large companies that are in a fortune $1000.00 they have a mandate to innovate and grow in scale and what we found from the malaysian
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singapore leadership team is a lot of openness to really try and test this out and that's where the goodwill from our side and their side is allowed us to do this as a pilot because bringing in and block team into an organization is not something that people would do lightly it takes a lot of education and learning both from our side and from their side as well and how does a block chain work together why do you why do we have to have these 2 great taste that taste great together why do they work so well together yeah yeah that's that's that's an important question so we have a large community of about 100000 people and we have a token holding community that believes in the vision that we're building so give you and your viewers a very simple example there's a narrow and narrow your application is and on that say what's topical right now facebook's news feed rate and algorithm that's designed solely for the purpose of maximizing your attention and then it has a small it has the core aim of driving revenue from advertisers to the news feed
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into keeps you captured and hooks and that's one algorithm that's just there forever to make sure that your brain narrowly focused on a core objective now what's really interesting is if you want to look at that can be contextualize that can take out take its apart from that narrow standpoint and be general that's really where a lot of companies are focusing their attention on and at the general level there are very few companies that are actually achieving this or making progress towards it because it's dependent on the dieter sets that you're able to acquire a large number of scripts. projects projects that are looking at data market places places where you can store data so that people can have open access to data this of course goes against the general sort of. modern detect technology companies that have data malts and fire walls that are not necessarily willing to share the data so you need that data to be open and provides that open sort of data layer and then you need an algorithm. that takes that data shifted into something meaningful that
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can drive strategy or something good for organizations in the long run you could be especially with the nature of the block which is to have a information that's out there and not completely. trust us if you will but not completely like open but it is able to be shared and viewed without being manipulated and so could this be a future where we could see like ok what we start with dominoes well then we get to you know singapore or work or whatever else and sharing that data yeah i think that's and that's an interesting way of looking at open sort of data protocols that allow organizations to share their data and access it and. at a level which allows them to collaborate there are some experiments going on in this domain but enterprises today are concerned about their data and their data rights and so the they're ok to experiment within a data set that as long as they have certain access controls informations and that's fine as
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a start but what we are going there to do is let all of these partners have always have access to their data but we will build the algorithms for them that allow them to then scale and chip and make use of these data sets because remember the details of mission as much as we are in block change in technology a large number of companies don't fully understand the value of the data that they're sitting on and neither do we as consumers you don't understand the value of the data that you give up when you read. the feed is reading us much as anything that you're reading the news feed so really at the end of the day it comes back down to how we think about data. how we quit to create meaning from the data and sometimes creating the right algorithms is the key to driving those insights when do. multi-source or whatever you want to call it today this guy and that if you will when there is that all officially roll out in malaysia and singapore or is it already and yes so we've already started the pilot discussions and framing the problem set and the interesting thing is we will be implementing
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some of these solutions in the following quarter and looking at how we can scale and grow is as quickly as possible so we'll start with because some of the pilot sitting in kuala lumpur singapore and then based on the success of that really don't need to different cities in that region. the united kingdom 2nd largest steelmaker is in big trouble but it still is desperately seeking along to keep things afloat and as in many cases taxpayers may have to carry the burden. well that's just following the story in toronto alex word is that the u.k. government is secretly drawing up contingency plans just in case british steel collapses what can you tell us. you know that sort of says it all the steel company collapses it's a big thing for the u.k. the whole steel industry right there is walking on glass right now with this going down we're talking about a company that employs $4500.00 people plus another $20000.00 people some place down the supply chain so that would be a lot of unemployed individuals they're asking for $75000000.00 pounds at this
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point that's about 97 $1000000.00 they want to tax payer money and this is in addition to another $120000000000.00 pounds $155000000.00 that they got just a couple of weeks ago to pay a debt that they owed to the e.u. because of emissions taxes that they would do to the european union. so we're talking about a company that owns a lot of money and that wants more money just to stay afloat and to build a new mill that's what they're saying a lot of people are saying that the walls of british steel are. because the brags that we know that things are on stable in the u.k. because of that it's so there's nowhere really to send that steel that's what that's part of the equation right and you know you mention the instability obviously stunning for brags that but not everything not all the news is bad there were some actually encouraging draw job numbers recently what's the real picture here. here's the flipside for it of the let's bring up this graphic shows exactly what's going on u.k.
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unemployment drops to its lowest rates as 1974 the employment records at a record high of 76 point one percent that's 100000 jobs added in the 1st quarter in the u.k. now some people are saying these numbers are things are softening up that we might not see a continuation for the rest of the year but at the same time break down things are pretty good at this point and turning for it from still new u.k. to the united states and the u.s. the industry is said to be building according to donald trump what's the real deal there. here it goes bring up this tweet real quickly i'm going to read the beginning of you in one year tariffs have rebuilt our steel industry is booming we place 25 percent a chair a tariff on steel from china and other countries and we have a big growing industry now well according to the washington post yes 12700 new jobs in the steel industry but also according to the washington post this is costing american taxpayers $900000.00 a year per job created in the steel industry that's massive that's
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a number from the peterson institute of international economics so for every job created the american taxpayer is paying a lot of money for that. our own man of steel correspondent alex miguel of edge thank you. thank you. for this don you can catch boom bust on you tube dot com slash boom bust r.t. see you next time. please. in 2040 you know bloody revolution here to correct the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it just the lawyer i mean you know i lived with video. schooling you know to the former ukrainian president recalls the events of 2014.
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those who took. it invested over $5000000000.00 to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. led . on that. server i want to do things that show me very stupid or to be very clear right. away go to. management. and they are they they when they have to then they have.
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to build. something yeah what do you how much they have. do you wonder. if this. all mean that with the constant negative. sex drugs are spread but i will go. when customers go buy your supplies. will reduce and lower. that's undercutting but what's good for market is not good for the global economy. a little over. where. it was a. lot
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of. which had a lot of people to the moon a lot and. president putin hosts a meeting in southern russia with the u.s. secretary of state and says the 2 countries need to overcome their differences. a u.s. military school publishes the decades long history of washington's interventions in other countries by some i think who got it. and a saudi arabian ship is hounded by protests that you are a peon paul failing to pick up an almost delivery that activists say could be used to kill civilians in yemen the latest on these stories head to r.t. dot com stay with.


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