tv Boom Bust RT August 16, 2019 12:30pm-1:01pm EDT
there's change from page dard server or. his 1st words were added i will see you are a challenging post you've got to use to me as. i have no doubt that what happened was criminal. defense calls and trademark it is a $1000000000.00 industry these companies how does huge financial motivations to solve these problems there are numerous documents showing that doctors were keen to test facts right concentrates for insights of its own that patients won't give them was the wrong place to place. or turn to stone why they would keep me from circuitry those who use data. on people still die i don't know which question or show all right being on our way to live where so many have.
this is boom bust broadcasting around the globe uncovering the world of business and finance and it's all around in your burrito and i'm kristie i in washington here's a look at what's on that today actually is on the ground in china taking a look into one of the most controversial companies of the trade war salmaan taseer fast paced sometimes bad fall a fan found a fact a far more in-depth look at the telecom giant watch following a shock primary vote in argentina the nation has sent the economy firelight firming up staff write out the plan as i have time for the on hand in argentina just break it all down and laser color sylvan china are slow. but signal something worse to
come or fix the car coach is standing by on this is a sign that the people's republic got a path showed it is willing to go and dive right in. while the trade war rages on in threatens to impact multinational businesses some companies have managed to find ways to insulate themselves and achieve profitability maersk the world's largest container shipping company recorded a net profit of 134000000 dollars and the 2nd quarter of the year beating expectations the result was due to a strong focus on improving profitability in existing businesses rather than going for volume and market share reaffirms guidance as they continue to see positive impacts of increased revenue from their supply chain management this offset the decline in earnings from sea and air freight wal-mart also beat expectations and raised outlook for the full year the company attributes its gains from its fast growing e-commerce business which surge 7037 percent this quarter online business got a boost from the gradual rollout of next day delivery across united states while additional
terrorists on consumer goods remain a headache for wal-mart it managed to insulate itself by adjusting their products mix wal-mart sources to thirds of its goods domestically the remaining one 3rd of items comes from overseas including china by quickly adapting to a rapidly evolving landscape managed to wal-mart managed to build momentum in its core u.s. businesses despite a difficult backdrop. finally china's e-commerce join ali baba reported a beat in revenue growth despite the economic growth slowdown in china all the baba grew its active customer base by 20000000 from last quarter with only 70 over 70 percent of those new users from less developed cities it also saw its cloud segment growing 66 percent this quarter driven by increased consumer spending as global tensions put pressure on consumption jack ma executive has been focused on expanding the business through cross so opportunities within the ali baba ecosystem
to drive out consumers purchase frequency and category mr miles efforts panned out as ali baba's state is uniquely positioned to counter the growing middle class and the urbanization of the lower tier cities this will be jack mas latest earnings report before he turns the reins to next in line in september. china signaled thursday that it plans to take retaliatory countermeasures against the latest round of u.s. terrace of $300000000000.00 of chinese goods beijing called the new terrace of violation of accords reached by president trump and shooting pain during their june meeting at g 20 when the 2 largest economies had agreed to a tariff cease fire this warning came after trump appeared to link the outlook for trade talks with to china to a resolution of hong kong protests and floated the possibility of another personal meeting with on twitter observers now speculate that trump wants to use hong kong as his new card to bargain with president xi in order to reignite stall trade talks
meanwhile on the u.s. on wednesday they added 4 chinese nuclear entities to a trade blacklist accusing them of helping to acquire advanced technology for military use these actions do not seem to create the right conditions for a meeting and a compromise despite what trump proposes on twitter the outlook for any meaningful outcome coming out of the september 1st meeting is now slim. and our own sara months is there is in china for a week getting an inside look at chinese ted. one way and she we simply went inside his halls to see how they are student creative and maintaining image in the tech industry they reported tremendous revenue growth throughout the 1st half of the year despite the challenging political headwinds sara filed this report let's take a look. we are in wa ways the newest campus in china it's designed like europe with different zones modeled after european cities you can stroll down the streets of paris into her side or enjoy a cup of coffee at an italian villa freedom enjoy the spanish architecture of towns
like granada weiwei c.e.o. and engineer himself mr ranging faith clearly has a fascination with some of the most iconic european architecture this campus took only 3 years to build and opened just last year holding $25000.00 employees while we greatly values research and development in fact this entire campus is devoted to r. and d. alone it includes advancements in algorithms cybersecurity and of course computer science the telecom giant spends over 10 percent of its annual revenue on r. and d. and in 20 teen while we invested their $15000000000.00 in r. and d. and devote 45 percent of its employees to the department while we have 10 campuses around china including shanghai and beijing this campus has such a quiet and peaceful feel to it one can even tell the thousands of employees that actually work here perhaps it's to foster some creative thinking reporting in china
. r.t. . this past sunday argentine voters delivered a shock to the political system that is still reverberating throughout the nation's economy here to catch us up and give us the latest on the electoral aftershocks is firming coop a staff writer at the times who joins us now from argentina. so ferman 1st of all explain what happened last week which we're calling a primary but it's not exactly a party primary as we might know it well get to see the market reaction in a moment but 1st can you explain to us exactly what was this electoral exercise for those of us outside of argentina and why were these results so startling. well 1st of all thanks for having me so you were already saying i was officially called the primary was more like a muslim poll since all the going to those who are actually chosen and decided
before their primaries are. requiring by law means to have primaries does what we have here by was really a musket ball with a really quite shocked and surprised based on results nobody was really expecting such a such a difference between over the fernand this. especially the polls all of them were actually wrong bring in all their predictions. interesting and now let's move to the economic impact which had been serious can we can break this down into impacts on markets early in this week the currency impacts and then the implications perhaps of her name is victory for the draft free trade agreement between mercosur in the e.u. but 1st let's focus on the 1st part can you account for us the market reaction on the 1st trading day after the poor results so. here are those fries will basically the reaction of the markets following the election was mainly off
a shock so it really was quite surprising based on the results nobody actually said no way was expecting such a big win or by a vote of no on this following rio following the results. why did the everybody was shocked in the market by the results leading to boy significant evaluation of the base when argentina on a big drop on the all the bombs the stocks the shares everything with don't be basic. reacting to the news nobody was expecting such a difference not do a mockery you work for the sea and the way he talked for is in the. oil of cumbia most of let's change it when the following the election he was called prize but he was coarser boys on the margins were boys are brought is following following the result. turning our original currency the pace of a game flying again on wednesday this is after it already dropped like 30 percent president might be announced response measures both are way to policy response to the economic and likely
a political response to that we can pole position so where the past so right now and what those president proposed to do. so in the news for when the photo in the primaries or the musket ball or however you want to call it the deep into the valuation of the market ministration unknowns here is the measures trying to call this you do asian market with the growth of our numbers on the on the phone actually bring some relief into the market was a little be more. mockery the mother ministration to a set of measures trying to deal with this situation such as for example learn to. stocks is trying to bring some calm into the market the us a little bit more stable now following the conversation we've been mark we are number of different numbers but that doesn't mean that things are still quiet due process on
a while you are in the next few days coughing so actually they're not. and returning to the issue we discussed where you discuss with us last time the draft trade agreement between american certain asians of argentina brazil. and the european union the new apparent front runner in the october presidential election mr fernandez tap the brakes hard on that proposal this week he turned a lot of heads by seeming to even deny that the agreement was in a draft form a give us the view on his comments from within argentina. following the following the result everybody's asking questions what's going to happen next basically on one of the main consequences probably of these of this in our view of this new scenario for the board of among these taking a leave of a comparison democracy is going to be questions where the foreign policy of alberta from on this question of sort of the results of merkel sort of question sort of the relationship over
a sale and it's all on the table it's quite open so far i will have to see how the bowles basically we are already seeing i statements on this side of brazil which are how in doubt really what would be the relationship between the from on this on the walls and out of ministration. over the tree look between merkel saw the european union as well it's not really clear what's going to happen but of an on the spirits doubts really going regarding that this world regarding the the miracle still in the us will so probably expecting. trying to go through the details of the e.u. on medical school the year following a presidency of the actually kabul we're still come to go through an election video in a couple of months there's a still a long way ahead of these by between mark and i'm going to from one is quite big now much more than everybody and was suspecting there's still 2 months to go down
the looked over until the presidential elections. you know now that you mention it turning to the impact of warm relations in the. victory the partnership now between president mckinley and both now was widely cited as a key factor in reaching a draft agreement between the markets are and the after 20 years of negotiations mr brown and as has not yet been elected but it's already feeling with the far right president so what are the larger regional a geopolitical consequences of a fernandez make 3 and the loss of data mccree both in our access. so. there is already a statement going on around regarding the warrant officers from the wilson out of ministries of war questioning world would help in a relationship between the front on this i will sort out in a brissie than see your photo from now on this they are saying that they will actually execute. on this wins the election it was quite concerned regarding their
work here. and i think it's quite shocking or a reaction by the most one of the mysteries or motherboard of a lot of the cost of questionable sonar to one of the last few months or so not a question. on this world so it's not. a surprise the reaction of the will so no ministers from the bug the relationship between both countries is definitely going to change is if i'm not going to be much differently from this reaches the. you will be the same. close on one of the reasons of the of what i remember doing. is different only because of the relationship between the 2. from the states on the presidency that's going to bring many changes in the region especially considering the know their main strong point is in maine a strong leader is in the region of the border from this. not only for numbers. the relationship we're game is going to change in the region we come to see how the
walls would big it will lead to a big big change in the. i mean this sort of brings us back to our 1st question which is why in terms of reaction to fernandez results why is that the markets were so spooked by the prospect of mr fernandez becoming president and perhaps a bigger story here the former 1st lady fernandez de kirchner possibly becoming vice president. so their reaction of the markets following the results of. the primaries here in the us you call it. was mainly because nobody was expecting such a big gulp between from now on this mockery all the polls here were saying they are . busy going to. die. for numbers will only gain true free 4 points no more than there were mockery so the market was actually expecting them so on friday before the before the election before the primaries the
market was everybody will be in 10 the markets basically because they were all expecting a much with a result for the month of may station so when there we saw its gay mean for non this actually got his results some one month ago his results the market reacted quite a bottle to be because nobody was expecting such a such a big winner of the from out of the 4 numb this gun the a c. different on the stickers on the election so now the question to us here is what's going to happen in the next few months if the numbers will be able to keep these 1510 to 15 points for as we do in mockery on him that's going to one thing i was going to help him with the other all of the other forces in argentina that between 10 and 15 points if you got there all them together who are they want to support whether if this was going to be decided on the 1st round or if you are going to go to have all of this weird where mockery will have to fight for none of this. very interesting we'll keep an eye on it for
a mean cooper staff writer at the one side wrist i'm saying so much for your time. time now for a quick break here because when we return car sales in china are slumping but could it take not something much worse because lauren fix the car coach is standing by to steer us to the ominous signs in the people's republic and as we get a break here the numbers at the club. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race is often spearing dramatic development only mostly i'm going to resist
i don't see how that strategy will be successful very critical time to sit down and talk. paradise with around to and into a round the experimentation field the agricultural chemicals we know that these chemicals have consequences they are major irritants there's no question otherwise why would that the chemical company workers themselves be geared up that suited up locals attempt to combat the on regulated experiments but often in day you have many of these people one foot into the biotech pharma and the other foot in the government regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is
trading before the open on thursday after an accounting expert released a report that claimed accounting a regular there regularities and outright fraud account for 40 percent of the corporate entities market value the report by analyst terry markopoulos titled general electric a big fraud bigger than enron made a big splash due to mr markopoulos his past role in warning the securities and exchange commission out about disgraced financier burning made off massive frauds years before the scandal broke the as he ignored mr moore koppel us as tip in that case but he went on to uncover at least one other major financial scandal and develop a niche career as a financial whistleblower despite mr markopoulos as record some critics question the reliability of the report due to the analysts financial stake in a hedge fund that is betting on a fall in g.e. stock price in a press release spokespersons for general electric said quote g.e. operates at the highest level of integrity and stands behind its financial
reporting. season ronnie and oil. anger will be released despite the calls from the united states to have the ship seized the supreme court in the british territory of gibraltar approved the release of the grace one after authorities in the region said that they no longer wanted to hold the tanker the grace one was impounded on july 4th by the british royal marine and the poor in law enforcement from gibraltar due to the belief that the ship contain oil headed for syria which would have violated e.u. sanctions against the nation the office of his attorney general stated that the captain of the vessel as well as 3 officers would also be released weeks after the seizure of the grace one iran's of revolutionary guard said that they had taken a british tanker this imperil in the crucial strait of hormuz accusing the ship of violating international regulations at this time the status of the stana impera is still up in the air at this time. and while the u.s. china trade war has slammed many such fears on both sides of the pacific from agriculture to fashion the auto sector has not avoided the pain and the thanks may
be increasingly apparent in china rolling into catch us up on this and all things automotive is the car coach lauren fix welcome back lauren turning to you turning back to turning to arguably the big story this week the latest statistics showing an economic slowdown in china and the auto sector was not spared the pain that china passenger car association says car sales fell 5.3 percent in the month of july $2900.00 compared to july of 2018 that works out to 1500000 automobiles sold in the last month and that means that the other ship drops out of the past 14 months lee reports how bad is it for the auto sector in china and what's the prognosis. well they have a 53 day supply of vehicles which is quite a bit and they've offered a lot of incentives which they did in july and in june hoping that it would boost sales it did a little bit in june but it's really been hurt in july with sales losing their
government subsidy so you're watching the drop in electric vehicles which is what they were hoping for they were hoping to convert all the vehicles that were combustion engine to electric vehicles and return is not happening as quickly as they want because sixpence of departure vehicle and of course they're in a recession right now and it's been going on for quite a while so consumers aren't going to spend the money and remember recently they didn't have a used car market only sold new cars and they would pass them down to the people in their family but now they've opened up a used car market which is definitely going to hurt the new car market so that's not helping things at all also note the germans being leading by mercedes b.m.w. and audi they had an increase in sales for the month of july which is because they're putting out proc quality product that people want now chinese autumn makers are not investing in europe based design and engineering shots in order to overcome the perceived and actual shortcomings on crash safety automotive news europe mentions the examples of engineering campuses great wall motors in germany so give us a little peek into these important facilities which we may not have heard of and the
role that they could play in helping the chinese ata makers start new inroads into the european market. well china has a rule that if you want to sell in their country and you want to build vehicles in their country they need to own a piece of that business that you create between the 2 of them and creating joint design factories will help every market has a different need here in the u.s. we're more s.u.v. based in other countries it's more car based based on the size of the roads in the parking in china parking is a huge issue so smaller cars tend to be more popular unless you're doing very well then you want to own a vehicle like a lincoln or a cadillac that's what people want they want to showcase their success so when you're looking at that you have to find out what consumers want it's completely different in their country than we have in our country and if you go on line and you look at the different vehicles that are offered you'll see there's a definite difference and having that design studio available i think is it is a great benefit for both sides of the producing cars consumers want. and lauren turning to the other big shocking slow down news that moved market the markets is
weak germany. noticeably weak there what's going on in the car and truck sector for europe's biggest economy. well europe's biggest economies are having some financial issues as you probably expressed in other segments with the downturn in their economy they're having a lot of trouble they've already lowered interest rates to the point where people are paying for the banks to take money so when that type of financial situation happens it impacts everything and that includes the auto industry remember that come from countries like germany the auto industry is a big part of their their economy and when the economy is hurting the auto industry hurts and consumers are buying cars and they're all holding on to their money so this is becoming a problem and until things turn around and the way they're doing it is probably not the right way this is going to impact everyone now are we touched on this last time you hear that seems to be an issue of growing importance and that is the security on increasingly computerised cars so specifically keyless entry systems are now
being flagged as a weak link so walk us through the mechanics of this vulnerability and how serious is it and what can car owners do to reduce the risk of theft or worse. well that's very interesting that was just a recent article it's become very popular here in the u.s. and i'm sure it's made its way internationally that you can break into these keyless entry cars were used to be you had a key you could maybe you know you know fish down a coathanger unlock the door and you could you know where the car and go those days are gone keyless entry is and what they're doing is you're buying items on amazon or actually baba and they can create a signal to cause the door to unlock and they can be in a vehicle and go on in under 2 and a half minutes that's really fast if you park your vehicle and you think you've got it locked at the key fob so it's up to manufacturers to put a road block and this is part of what i've been saying about 5 g. and autonomous cars if they're hackable this simply by getting through a keyless system which been around for
a while and there's no fire wall there what's going to happen when these cars are autonomous and this is a huge problem and it's up to manufacturers to put a roadblock on that as far as. consumers concerns be careful where you park your car and know that anybody can break into it. fasten a i know it must they previously had this were war in order to like encourage hackers to try to break into their cars in order to fix these problems lauren fix the car coach thank you so much for your time. thank you. that's it by this time you can catch a boom bust on directv channel 321 dish network out to 80 or skimming 247 on planet t.v. the free t.v. at his 79 or has always had a sub for you tube dot com slash boom bust r g c next on.
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