tv Boom Bust RT July 14, 2020 4:00pm-4:31pm EDT
by the i'm not move by the. look of boom bust the one business show you can't afford them on the field but in washington coming up to you that it will be and while we hear from a buy in from archer by 2027 a move that would strain the country really to find out and the. high levels of life the state needs are in a healthy snack i'll tell you what that is with legal contributor for american lawyer molly barrows well a power show today so let go and dive right at. us pressure mounts in europe as the
u.k. announced it will reverse its decision to work with weiwei on monday the country announced it will move to ban the tech giant from its 5 g. network by 2020 summit rachel blevins joins me to break this all down rachel what's what are you paying officials saying about the move where you the u.k. is quarter secretary was the one who made the announcement and he said that not only will the country not be working with wall way to establish its 5 g. network but it also plans to ban companies from purchasing equipment from wall way by the end of this year take a listen to what else he said earlier the government agrees with the national cybersecurity sense advice the best way to secure networks is for operators to use the new 52 to one way to prevent to build the new case future 5 networks so to be clear from the end of this year telecoms operators must not buy any 5 to equipment from her wallet and once the telecom security bill is passed it will be
illegal for them to do so. now this is a major change from what we saw back in just january when the u.k. said that it was going to work with wall way on a more restricted basis where the tech giant was able to have access to up to 35 percent of the u.k.'s network there's been a lot of back and forth with many countries but especially with the u.k. like you said with this reversing of the decision why now what changed while they're good allies the u.s. has been pushing for all of its allies to also ban wall way for more than a year now and the u.s. has gone as far as to say that it would cut off intelligence sharing with those allies based on national security concerns now when it comes to the u.k. that would be a really big deal considering the fact that both countries are members of the 5 alliance and the u.k. had responded and had said that it wanted to be able to make this decision on its own specifically however we saw the reports come out that noted that back in may the tramp in ministration announced new restrictions that stop foreign
semiconductor manufacturers whose operations use u.s. elsewhere in technology from shipping chips to walk away without 1st getting a license from u.s. officials british officials noted that they consider this change because it could impact the quality of wall way equipment in the future along with that this week we have u.s. officials in europe meeting with european officials and out of all of the topics they're talking about that includes foreign policy with china and the future of 5 g. well we don't china is not one to stay quiet they're pretty vocal about their opinion about fair competition especially with wall away what have they said was spokesperson for china's foreign ministry did speak out and he noted that whenever it comes to this decision this is something that beijing is going to look at and it's going to see it as a signal for whether it should continue to invest in the u.k. take a listen. whether the u.k. can provide an open fair and nondiscriminatory business environment for chinese companies will be the touchstone of the trend in the u.k. market after break as well as
a barometer of the safety of chinese investment in the u.k. china will pay close attention to. now their decision is a likely european one of its closest allies however it's also likely to further increase tensions with china how time washington has already referring to its relationship with beijing as severely damaged that's exactly it already had some strained relations with the united states now possibly looking at the u.k. but thank you so much for that report our correspondent rachel thank you. go deeper into the story and bring in film best co-host and investigative journalist fenceline bennett we seem to be talking about this for happy days on our own now we talked on monday and you mentioned that if this happens as it now has that it would be a complete reversal for prime minister boris johnson is this reversal based on any new information or is it just a u.s. pressure like rachel said yeah i really think it's u.s. pressure i don't see any reason for this now obviously you know essentially what
the u.k. is saying is that they went back and they did a 2nd analysis and they looked again with their security specialists and that's where the breach is decision if that is the case wouldn't the u.k. come forward and say and here is what we have now found the technical specific information as to why while way is a threat they have not done that instead they simply turned around and said yeah we're going to go along with what the u.s. has been saying which is that to allow way to be part of our 5 g. buildout is ultimately dangerous for the country it's bad for the world the chinese will spy on us and yet no one saying how remember boris johnson originally said that while way would not be allowed to work on the components of the 5 g. build out that could be compromised and instead would only use technology in what they called the core build out of 5 g. essentially meaning you're not going to have access to be able to harm us in any way but now they're saying something completely different without without showing
any reason why they've changed their point of view right it's interesting to see how quickly they flip flop basically over this decision without like you're saying any evidence but the u.k. does say that these sanctions and may against while they really triggered a new security riverview walk away and that that review was the reason for this u. turn essentially are you buying that. i don't buy it look i we know that when this was originally announced in january right and we were talking about this back in january that essentially board. and shocked a lot of the world certainly shocked europe and definitely shocked the united states when he said we are going to use while we are a build out because he was trying to make good on a campaign promise to get to that 5 g. technology and said that while wade was the world leader in it then we know that there was a threat that was made in january right after boris johnson said that from the u.s. saying that if this happens the u.k. would be barred from being a part of 5 intelligence sharing that's the united states the u.k.
australia and new zealand are all part of this you know 5 eyes organization that essentially involves itself intelligence sharing and stead of stepping back and saying well wait a minute we're be essentially being threatened with not being allowed to share intelligence they've just gone along with it on the us is probably patting themselves on the back for winning getting getting some momentum on this war against weiwei. where these bands stand as far as other countries go where they expanded to and are there common links between those countries. well i think the biggest common link as i mentioned were the 5 is right so when we talk about australia new zealand we talk about the now the u.k. all being involved in these bands we know that india is now involved in a band involving a while way and so what we see over and over is that every place where the u.s. is able to exert itself politically or through intelligence sharing they how are
having success in this and what's really interesting to me is look i know it comes off here as if i'm advocating for weiwei i'm really not advocating for awhile way don't care or alternately if the company survives or not but i do think it's important that we advocate for honesty and for fairness and what's happening here is you have the trump administration saying and making accusations about wild way and i'm going to say it until they finally come forward with it without ever providing a single piece of evidence that while we is doing what they say what ways doing that's problematic because when you are using this influence to control what other countries are doing guess what u.k. is not going to not have a 5 g. buildout it's now going to be pushed to state owned partially state partially private owned companies in europe that's where it's going to go to so you have to call into question the technology here and you have to call into question the motivation behind this and if you're making a statement as a as a leader of
a country you need to back up what you're saying right evidence not simply make a declaration well i would definitely talk to walk away a few times and a few people from there and i visited myself and asked them and they i may have you know invited officials of course that were not defending while we much like you said we want those that evidence and i remember a few months later some headlines said and read that we the u.s. department of national security said that they had the evidence but still it was not provided that we are calling for and we are wanting to see this part but part of this move it to remove a way as technology. from the u.k. is to move it entirely by 2027 is that even possible. i don't think it is logo is we've talked about you know on the show a couple times before and very quickly here they're talking about not just stop unified you go about they want to go back rip and replace for g technologies 3 g. and 2 g. technology but what we as responsible for in the u.k.
it will take years to do it will cost billions of pounds to do with and i don't think it will happen anytime quickly about a lot of expense it will be interesting also to see how the u.s. moves forward when they said that they want to work with wall way for setting 5 g. standards so that's another we'll have to keep an eye on and see what the united states comes out with to say who must co-host of us get a journalist bence want to thank you for your time today. there are things. like sicko is the latest country with plans to phase out the use of glyphosate cancer causing chemical found in the weed killer round meanwhile a judge has blocked efforts in california to put cancer warning labels on the herbicide and there is backing out on part of its recent round of settlement deal to resolve lawsuits against the chemical giant legal journalist molly barrows contributor with america's lawyer joins us now to explain molly what changes as they are want to make in the settlement agreement. well the main portion the part where they want to settle those lawsuits are the majority of those thousands of
lawsuits for about $10000000000.00 that still stands the wording that they're doing away with has to do with scientific panel that was also part of the settlement deal they were going to have a joint selection of scientists that were going to determine whether or not glyphosate that's the main ingredient in the weed killer roundup if that was indeed carcinogenic and basically the future of other lawsuits the future of future lawsuits was going to be impacted by that scientific panel's decision and so basically it looks as if that part is now next in taken out after some questioning about the fairness of that particular edition well and we hear a lot of mixed messages a mixed studies a scientific opinions on how toxic these this life is it actually is but it seems like mexico is going with the side of that it's actually causing cancer is that why mexico's phasing it out. yes you know mexico is joining a number of other countries including germany luxembourg you've also got vietnam 7 and they're saying listen we have enough scientific evidence that we feel shows
that there's a good chance they've got to say it can lead to cancer so it's being found in food like hummus we saw a recent report words being found in chick peas which of course is used to make comics and it's one of the most widely used herbicides in the world so it's not surprising that it's turning up in these places but there are a number of tests which monsanto the original producer of round has fought and then of course when bear merged with monsanto in 2018 they're fighting this these accusations in this litigation as well but there are a number of studies that say you know what it is a likely carcinogen it will could could potentially cause cancer even the e.p.a. which is traditionally sided with monsanto and bear says that it's unlikely to cause cancer if it's used as directed why i don't know exactly what unlikely means but there's a lot of wiggle room when you use words like that and that's essentially what's happening with different countries different courts mexico said you know what we feel like this is a good move to make that it's not just cancer causing it can cause other harm as well their body other health effects so they decided to go ahead and phase it out over the next 4 years well i want to go back to the california judge said that
they're not requiring cancer warning labels on roundup why is that. well you know the state of california wanted to have those warning labels put on there because again going back to some studies that show show that there is a likelihood that it could cause cancer but because there are differing studies the judge ruled that it would be a violation of barriers free speech because of those differences in opinion and they have decided to rule with fair monsanto california their own health environmental officials feel like that the levels of glyphosate that are in round up alone warrant that that label should be there and when they tried to enact that bear bile back with a lawsuit of their own of the judge centrally sided with that saying no you can't put that label on there there's too many differing opinions it's a violation of their free speech but of course environmentalist and prosecutors and california attorneys i should say in california are saying that that is a blight against the people of california that decision lee before we go i do want
to get one more question and it california just want to get a graphic up right now we have a level showing the differences between the e.p.a. and california they all have different risk levels like you see there as far as the levels of glyphosate that are safe studies going back to 20000 if you remember when the weed killer was found in several kids cereals one of the w.g. is saying that high levels are present in this. yes so yes they're finding high levels and hummus the chickpeas that are used to make a mess and in fact this really goes to a wider issue whether it's the life of say it's or c a so many chemical compounds that are used in a variety of ways whether it's cooking or agriculture they make our way into our products that we ingest that make our way into the drinking water that make our way and make its way into animals that we end up running so you know to quote my crop attorney of america's lawyer he feels this is an ongoing problem you'll see those differing levels of what the e.p.a. except as to what other environmental officials accept and he would say that the e.p.a. traditionally is in the pocket of a lot of these corporations because of their symbiotic relationship to the
revolving door of jobs that go between the e.p.a. and a lot of these corporations that are supposed to oversee them so it is interesting to see that we are seeing glyphosate in more products around the world that we're taking into our bodies and then you've got the e.p.a. saying well it's acceptable as long as you use it as directed and some attrition us are saying not to worry that those levels are safe but i'm sure there will be more news coming out from that molly barrows contributor with america's lawyer thank you so much for making time for us today. thanks air. time now for a quick break but hang in there because when we return russia breaks the ice well more so the news on its new nuclear vessel icebreaker is a continues its expeditions into the arctic plus j.p. morgan and the other toppings all gear up for the earning season as we take a look at delta that has some pretty big losses as we go to break here the numbers that the.
i know you want it all let me bring you the bad. it's easy just. play. me your flesh students birth new quest. number as stars and endless as the sun and bring you all in some distant death and. live drop all that remains in question. i'm a journalist it's all i know being a truth teller people say i make among come from good news is like a jackhammer good drill down to find the truth news with rick sanchez because it's time to do news again and question more. i like it when lee hosts ask a question for the guests and then actually listens to the guests answer and then
reacts to that answer a folks that are still are here i've got a new show. russia has begun building the world's largest and most powerful nuclear icebreaker the 1st battle of the so called leader project is now being constructed in russia's far east while the country is keen to gain a foothold in the arctic region where gigantic natural resources are hidden under the sea bed and the cheapest way to take all the extracted wealth out is by water this is where the latest ice breakers come in handy paving the way for cargo ships to navigate the north sea route all your route of all artes your top of all are more the task of the leader class nuclear icebreakers is to provide year round as called of transport vessels in harsh conditions of the north sea route rushing
tends to build at least 3 nuclear icebreakers of this class the flagship vessel that has just been launched will be named russia it's expected to cost 1800000000 dollars and will become operational in 2027 the icebreaker will move with a commercial speed of about 1314 knots and cope with an average ice thickness of about 67 feet thanks to the new ice breakers of this class modern merchant ships can use not only the classic north sea route but to navigate in higher latitude it's worth mentioning that the north sea route lies along the coast of russia its length is fine sounds and 300 miles it's a new global transport corridor and it's the shortest pass from europe to asia but it's ice bound around 9 months a year in some places the ice is up to 15 feet thick meanwhile the new ice breakers dimensions seem to be truly incredible the length of the vessel will be more than 670 feet its height will equal the 13 storey building it will boast $120.00
megawatt power plant since the icebreaker is to form a channel for congress ships with a certain with its own which cannot be less than 155 feet its major and snead according to engineers would be minimal. the leader icebreakers will work with the vessels that will transport oil and liquefied natural gas east would now russia el injuries mainly delivered to the ports or western europe and then it's transported to other places by other carriers with the launch of the eastern direction it will be possible to deliver cargo by russian domestic vessels directly to consumers located in the asian region plus ross neff russia's enormous state oil company which has high hopes for drilling oil in the arctic also will benefit from the new leader ice breaker is by the way according to the vessels develop is there will be no weapons installed it said the country has enough warships so it's not necessary to lead to ice break is russia is the only country in the world that operates a large fleet of nuclear icebreakers such vessels are significantly bigger and more
powerful than their conventional powered counterparts the nuclear engines allow the vessels to operate a tunnel mostly for long periods with the need for frequent refueling the r.t. . earnings season kicked off this week as investors pay close attention to the banking sector well the biggest banks reported their results and it's pretty ugly j.p. morgan saw a 51 percent plunge and 2nd quarter profits it actually beat wall street's expectation though and profits were $4700000000.00 down from the $9700000000.00 just one year ago well citi group 2 reported better than expected earnings but they saw a dip of 2 percent in morning trading wells fargo reported a $2400000000.00 loss shares tumbled as much as 8 percent much worse than expected wall to break down what this means for the sector and the future. of the trading group good to see you what do these j.p.
morgan numbers really mean and break it down for us. on the positive side they're trading numbers right through the roof fixed income was among the 9 percent or so that someone might call. their. miser and said buy bonds right that's that's what people are doing behind bonds when he was up 30 percent for equity trading people were buying stocks you have a very good market so that's good for them on the other side people are hurting unemployment soon to go up and they said at the news that they expect that it will be very uncertain for the near future and i think in terms of that will be the theme for anything financial you know it's all going to be coronavirus related if things improve faster everything will get better if this continues to be delayed and you could expect more trouble plus they're really limited by having to have more reserves on hand so a lot the process of focusing on the positive a lot of people are very active in this market right now a lot of uncertainty which is it would simply as so many questioning why are they
going nor in the numbers of these coronavirus spikes the possible resurgence the way that we weren't even supposed to get until the fall. absolutely i mean you know the government that came in and said we're going to backstop this market and it's a euphoric like market so if we're talking about the market overall and not a few more going. it's it almost doesn't make sense you know because you watch the news and you see something to go back into isolation of philadelphia canceling events till february 2021 and then no matter what happens the market just rallies so your mind can't really make sense of it and the best thing to do as a trader is trying not to but honestly what i'm thinking this morning is maybe this will let the market take a hit so that more people rely on ok we're going to wear a mask for 4 weeks we're not going to go out and we're going to end this thing is that having it be delayed for another year which has been frustrating for everyone
that the whole of rolling back the reopening then the resurgence of these cases and saying that you know the economy is not going to completely be shut down anymore going forward a lot going on but delta airlines also reported it's not. quarter loss about $5700000000.00 this is its biggest since 2008 now originally the airline planned to add more flights in august now it's scaling back right delta c.e.o. even said the airline is preparing to be smaller and that it will likely take about 2 years to recover substantially it's a 1st airline to report results are we going to expect there to see the same with other airlines. of course you know it's the same thing with my philadelphia pushback advance. and this is also bruce a point from a trading perspective it is a specific rally there are stocks there are more participate like airlines because they're directly impacted and they don't have another option if you're trading revenue like j.p. morgan but nobody's flyball public events are canceled sporting events for the
public or cancel i'm not going anywhere and i don't know who we choose. if you want to fly into those things gone and you know well apparently people are flying people are getting back to normal vacationing taking that summer and unfortunately that is a reason we're seeing a lot of spikes in cases i would really like to see the numbers as far as how the these flights and these people who go on airplanes are affected by colgan 1000 if at all and now i do want to turn to the nasdaq where it's on its 3rd day of some losses after some all tie highs that big tech really seemed to be struggling after that massive rally that we saw last week are we going to continue to see this downward trend it with the nasdaq. i mean i wouldn't bet against the nasdaq with my own money and i wouldn't bet against the nut with your money right now either because i like you you know it's the. it's not it's as i said it's you for the market by the end did a google say spoke to actually turn positive was the final straw on our post and
let me tell you something and this is important and i think it's important for anyone who's interested in truth understand this the course for the tech to go positive today. and a push for tech to sell off yesterday and this morning it means absolutely nothing it's all speculation if you look at a company like tesla that was $250.00 a year ago and it's now 700 that's not a valuation that's a speculation and so it's a significant aspect you're not seeing live things are so good you know it's just there's nowhere else to put people's money so nasa is leading the charge but today 1st there was a flight to safety in companies like 18 t.v. arise mcdonald's didn't invent companies were getting in surly up right well adam ash from adam mesh training thank you so much for your time today. thank you so much for having me appreciate it that's it for the time catch boom bust on the man
on the brand new portable t.v. up a veil on smartphones through google play and the apple app store by searching portable t.v. or stream us on your t.v. by downloading the portable t.v.'s on apple t.v. and online a portable the t.v. of the next time. we go to work so you straight home. the money in the news and money alone in the hands of. saddam hussein who won the
debate about the date time about what it was it was a bit time that was innocent as a bomb was more about the. one with more than the side of the. scene that are going to get but i'm the symbol for the cop on the moon by the. by now i'm by the i'm not one that. welcomed on. the day we talk to dean yet 13 years ago was the head of the reuters bureau in baghdad when the collateral murder video. now infamous throughout
the world killed 2 reuters employees. in terms of the significance of this but 1st i think. it's easily as significant as the photographs that came out of the ever growing tension. because it shows the world the war in iraq. it showed for the 1st time i. showed the american public what the war in iraq really looked like from. assistance were made about. iran and you know the stations were money we don't very little information or much of that attack on the van which i think a lot of experts. and then later on in the paper used to do stuff on missiles being fired into buildings without any confirmation of actually who was informed so i think it really it really late. with the war in iraq really looked like.
early on the morning. of july 12th 2007 deeney 8 the reuters news agency bureau chief in iraq sat at the slot desk at the news agencies office in baghdad suddenly he heard a loud wailing from the back of the office an iraqi colleague burst through the door that mir noureddine a reuters photographer as well as a reuters driver and fixer society had been killed 8 despite his shock and grief still had to file a story he contacted the u.s. military spokesman he waited until the evening before the u.s. military responded when it did it released a statement saying that during a firefight in baghdad 9 insurgents have been killed and 13 had been detained there is no question that coalition forces were clearly.