Transcripts For RT Boom Bust 20240712

A krone virus here and where the action numbers stand globally and while many sectors of the economy continue to struggle in the wake of coppa 19 markets are surging on the back of some major acquisitions later well take a look at these moves and what and the state of equities in fact show today so lets dive right in. And we lead the program with a Major Development in this saga surrounding the most popular social media app in the world tick tock as monday by dance the Parent Company of tic tac has announced that it reached an agreement with oracle now according to by dance the company has submitted a proposal to the u. S. Treasury department over the weekend that would make oracle not the owner of tick tock but a trusted Technology Provider shares in oracle jumped more than 6 percent on monday morning with confirmation of the news treasury secretary Stephen Newton says that the government is reviewing the proposal but this move could mean that by dance does not have the outright sell or have to outright celtic which would allow the company in theory to remain in compliance with the new chinese regulations meant to stop the sale of the company. To top of all of. This has fully excuse certain u. S. Politicians are true intentions of disguised in coerced robbery and their ugly face of Economic Modeling with china firmly opposes this we will firmly support Relevant Enterprises in safeguarding their legitimate rights and interests and resolutely defend international and economic trade rules that we heard the Us Government which is to provide an open fair and nondiscriminatory business and to ironman for the Orange Companies strategic investment and operation as are the specific business behavior of the company you mentioned we have no comment. And joining us now to dig deeper into the story are boom bust cohosts ben swan and christy i thank you both for being here now but i want to start with you so the company that seemed to be leading the charge on a tick tock acquisition was actually microsoft which had joined in its bid with walmart do we know why microsoft didnt get this deal. Well theres some suspicion as to why they didnt get it one of the big keys i think to that would be the fact that from the beginning microsoft said that it had to have complete control of the code which to talk is written right essentially controlling the algorithms and controlling the Technology Behind it not just being a Technology Partner that is what they wanted well because of the way that the chinese essentially and beijing changed the rules along the way and said hey you cannot just sell you know code and algorithms to a company or a country outside outside of china they shut that down so microsoft was leading the way on this along with walmart looked like they were going to be the ones to get it and then all of a sudden when that change happened microsoft was kind of out of the run because they wanted to be able to control the code oracle on the other hand that theyre taking a major stake in the company but theyre just referring to themselves as a Technology Partner in this case it really raises questions though about the troubled ministration and about what they attempted to do here because remember the Trump Administration said from the beginning that they could not allow the chinese to have. Access to all this data because if they could use it to Harm National Security well now all of a sudden under this scenario i dont think the chinese have lost any control assuming that they ever had any over the data the ticktock has but now youve kind of forced a merger with oracle which by the way has a lot of ties to the Trump Administration and from the beginning President Trump went around saying that he wanted or go to be the one to get this deal now kristie as weve said oracles not going to take over operations of the company but instead become a trusted Technology Provider or partner now is this role enough to safeguard the company from violating the new rules which ban the sale of chinese tech by the chinese government. As well the full details of the deal are still pending and doesnt seem like i dance its trying to bring in the middle by satisfying to a certain degree the demands of both china and the u. S. So my dentist operation will not be sold its proprietary iron is definitely not for sale and so oracle will become a partner well take a management of tick tocks us operation and this proposal actually makes a lot of sense as oracle is primarily an Enterprise Software developer that would be a great Technology Partner but in terms of culture or Consumer Market it doesnt really fit the audience so it also provides a level of protection for tech talk as well as its not selling itself to a direct rival oracles businesses are in an upper stream in to exchange such as Cloud Services so the parents core interests dont really collide with each other so yes it does satisfy beijing demand as there will be no sale of the algo and bike and will not be getting a source code to any us virus however its not creating this interesting option for trump demanded a sale now hes getting a partial deal where oracle is the operator in general lan take and some quite are minority stakeholders as ben mentioned but its the scenes with tremendous political influence and some of socom dollys biggest donors so now the ball is back in time square as i guess has agreed to a deal to a u. S. Company in order to get into a little bit more of the politics of this here in just a moment but i want to cover this algorithm a little bit more now to talk. That while it would sell portions of the company one thing it was never willing to sell was that algorithm it was clear why microsoft wanted that they wanted that technology they also have the ability to have the front facing tacked on like somebody like oracle who is kind of a behind the scenes Enterprise Company as of course you just mentioned now to talk influencers that can actually joined us and talked about why this algorithm is so important just recently. What theyve been doing from the beginning i just a couple years ago was there out there that made it so power on that it leveled the Playing Field for anyone who wants to as a stone and can make a little fun story or a joke or do a dance or whatever maybe theres a ton of different ecosystems and creators on the internet on tick tock but in a lasting once you have the chance to go viral on a totally different level thats thats bigger than weve seen possible with you tube gets bigger and we instagram and buy me been so thats why its so exciting and i think thats the drop not only is it the you are but im especially for those viewers who are trying to concentrate on the app and right now obviously the most important thing when it comes to social media is that algorithm so does the oracle entering the deal and making this deal actually protect the rights of that algorithm for a for byte dance as a company yet it really does the math again lessened by the answer from the beginning that was unwilling to let go of this algorithm so what they had essentially said you know so the viewers understand this is when the trouble ministration said youre going to have to sell us canada new zealand and australia those operations were by the us was looking at doing is essentially you could quit it to were going to sell you the carbon in a lot going to sell you any of the engine right you can just have the shell thats essentially what they would have been selling and so a company like microsoft had they bought to talk would have had to kind of read this redesign the algorithm thats use they were not points about it from the beginning what this does allow though and this is why its good news if this thing all comes together for to talk influencers or just anybody out to talk if youre on tech talk and you want to be seen youre able to to be seen in a way that other as sane other social Media Companies dont allow you to be seen facebook has an incredibly controlled algorithm so does you tube they decide who gets seen and who doesnt talk is much more open in terms of the ability to become an influencer and to grow a following in a way thats more authentic than a lot of other social media so that stays in place oracle will not change that and really oracle just gets to own now a piece of a company that. Candidly they never really had a right to own in the 1st place but because of this 4 cell theyre going to have a piece of it and basically going to be able to collect money as long as this is a popular app essentially now kristie in the end doesnt this whole thing start to look like as we were talking about here President Trump painted ticktock as a threat to National Security that he pushed the company into the hands of a company that actually has ties to its ministration and in the end doesnt really make the technology any more secure than it was a month ago does it. You know there was never really any proof to show that tick tock was actually a National Security threat to begin with National Kick security is just a term that gives langat power to take and of course and in this case it was to take the most that the Fastest Growing and most valuable tech i. P. O. Currently on the market a platform that could one day rival facebook but to the 2nd part of your question now in the end this oracle deal does not make the technology any more secure than it was a month ago it might however satisfy the instruction as it gives the illusion of security as now oracle will be responsible for this new user Data Protection and how the companys algorithm push content out to u. S. Users so an engine so that over the course of the week administration if you want to make sure the coast secure american dana secure and that phones are secure and theyll be in discussions with oracle on how to manage that so by dans plans to argue that there is also precedents for this deal as 2 years ago china ocean wide agreed to a u. S. Based 3rd Party Service in order to manage genworth us policy holder data so now hes in the same logic byte and says at this proposal would result in a ministrations security concerns and really you have to look at it on a broader scale as any sort of deal whether giving the perception of more safety whether there actually is more safety is good for the president rather than the perception that he got sick and in the United States who must cohost been swanning christiane thank you for breaking this down for us. I. And the u. K. Has entered an agreement with french vaccine maker bell need to supply the country with up to 190000000 doses of its potential corona virus vaccine over a 5 year period if development of the v. L. A. 2001 vaccine comes to fruition bell neiva will provide the nation with 60000000. 00 doses in the last 6 months 2021 for just over 550000000. 00 u. S. The u. K. Government would then have the option to buy 40000000 more doses in 2022 and another 30 to 90000000 doses between 20232025 now if the government were to buy all 100 90000000. 00 doses the deal would exceed 1000000000. 00 and after having to suspend their Coronavirus Vaccine trial due to a reported side effect in a u. K. Patient astra zeneca and Oxford University have been given the go ahead to resume trials the university issued a statement sunday announcing the Regulatory Approval to restart the trial saying the independent review process has concluded in following the recommendations of both the independent Safety Review Committee and the u. K. Regulator the m h r a the trials will come in the u. K. So with all the mileage will have to take another look at the trends and spread of the virus globally with r. T. Correspondent saya tablature so i where are we monday and ran on sunday last 24 hours a day of once again we did a record a single day spike in global cases totaling more than 307000 new cases which brings the total global cases to almost 38000000. 00 now now its also important to mention that while more than 931. 00 thousands have died more than 21000000. 00 or about 75 percent have also fully recovered now from the total a key. He says the u. S. Has reported the worst of the outbreak with almost 6 with over 6700000 confirmed cases and now also reaching 200000 related deaths now taking a look at the daily new cases and deaths reported in the u. S. So while case numbers remain relatively high across much of the country now new cases have dropped significantly since late july as you see right here from this graph and right now were averaging well well in july we were averaging well over 60000. 00 cases per day but right now were averaging about 35000. 00 cases per day so thats a decrease of a 17 percent from 2 weeks earlier so thats good news and then taking a look at the daily deaths on sunday we saw 399 new deaths thats also a decrease of 17 percent from 2 weeks ago and i also want to take a look at where new cases are higher and not just higher but also staying higher now these states their new cases are constantly increasing for example in north dakota they are seeing a 17 percent increase in cases not only that but also a 83 percent increase and deaths now these states there are also facing similar numbers brant sorry i want to go the other countries that are seeing an upward trend in cases so were actually now seeing a spike in new cases in countries that earlier looked like they had the virus under control of course there is infections in india that have been rising faster than any other country and only lags the u. S. In total infections now india has recorded over 92000 new cases just not last 24 hours taking the total number of cases to 4850000 bar brand while deaths have been relatively low in india its now rising to more than 1100 deaths just. 4 hours and thats about a 20 percent increase so theyre definitely not headed in the right direction the us of course we spoke about earlier and as you can see the trend is just going up and then there is a latin america which includes brazil peru mexico and colombia and now also argentina that make up half of the global tops and cases in argentina argentina here really sticks out from the list because while theyre trying to return to a normal life in less than 2 months new cases have grown 3 times in argentina to 12000 a day so once one of the countries with the strongest performance against the virus theyre now undoing all of that now moving over to europe there seems to be a 2nd wave as a new cases in deaths are once again rising specially in spain and france which previously was not on this list and on friday more than 51000 new cases reported in europe and thats the highest peak since april meanwhile the number of the number of daily deaths across the continent has also remain at around the same level since early june with about 400. 00 to 500. 00 deaths per day so thats not looking good at all now lastly rush up they were totaling almost 11000. 00 cases per day back in may and then they started seeing a downward trend to less than 4700. 00 cases per day in late august but its once again seeing a theyre seeing an increase in new cases so once again russia is making their way on this list but of all the countries that i just listed on this that we just talked about all of them are refusing to get any kind of lockdown back on but interestingly in love one country not on this list is israel theyre now doing the complete opposite and theyve become the 1st country to reimpose lock down measures so it seems some countries are taking this new surge and new cases a lot more serious brant art. Correspondent thank you for keeping us up to date. And time now for a quick break here because when we were at church while many sectors of the economy could finish trouble in the wake of overnight markets are surging on the backs of some major acquisitions take a look at these moves in the state of equities as we go to break here numbers of the put. The new gold rush is underway in ghana. Workers are flocking to the gold fields hoping to strike it rich. As. Those that were children are torn between gold. Was very poor i talked i was doing my best to get back to school which side will have the strongest appeal. World is determined. To do years thinks. We. Will welcome back u. S. Equities sort of monday after that massive tech sell off ravaged markets for the last week and a half now the gains in markets are mostly due to a series of mergers and acquisitions including oracles deal regarded tictac as well as promising news on the copen 1000 vaccine front and one of the most high profile deals as u. S. Based video is announcement it would acquire u. K. Semiconductor manufacturing affects your arm from soft bank for 40000000000. 00 no arms intellectual property is used in processors for mobile Device Manufacturers like apple samsung and qualcomm now in the announcement of the deal the company said it would continue to operate its open licensing model while maintaining its Global Customer neutrality now on the news and video stock shot up as much as 9 percent at points throughout the day meanwhile pharma giant gilliard sciences announced a 21000000000. 00 deal with purchase biotech firm immuno medics and its Breast Cancer drug should l. V. Now immuno medics shares closed at just over 42. 00 per share out of friday gilliatt agreed to pay 88. 00 a share in all carry cash option for the company a premium of 108 percent now on news gilliam stock popped as much as 4 and a half percent throughout the day and another deal for. As a communication has agreed to buy track both a prepaid cell phone provide a Service Provider from mexicos America Movil in a deal worth as much as 7000000000. 00 now trac fone boasts more than 20000000. 00 prepaid customers under the this brand as well as 2 offshoots of the move sent America Movil she shares up by as much as 6 percent while private saw moderate gaze so lets go ahead and take a look at the deals and the state of actors with the c. E. O. Of optimist l l c i tavia thank you so much for being here today. Thank you now i want to start with the state of markets after a week and a half of sell off were seeing substantial gains now we also have the last Federal Reserve meeting before novembers elections here in the u. S. Coming up on wednesday do you expect any policy move to actually shake up markets are the volatility gone for the time being. Well id be very surprised to see any surprises coming out of this fed me saying i think german cow is acutely aware the markets are very dependent on his months of policy and its made use much policy and i think what we saw the unpleasantness we saw in the markets in the course of pos weeks in tech stocks was more of a reflection of the fact that people saw the markets might be getting back to normal and the fed might then reverse is very very closely i think now the markets are sort of more calmed down a bit so i think what hes going to come out and say is really sweet little hes trying to persuade markets that theyre going to stay the course theyre going to carol with policy they dont want to rock the boat before the election so its going to be talking therapy calm down theres nothing to see here keep going however in terms of volatility going away im sure i agree with you on not from us were going to see now but when we got this election coming and this election might lead to a lot of maurices in the markets both sides in this election seem to be sort of gearing up for a contested election it looks like it might well be very very close and might look like the just the win is not decided on Election Night weve been for a few days i asked. A few weeks afterwards the markets are going to absolutely hate that so i think me very very complacent now to say theres no know what will us in the market i think theres tremendous possibility for those who see perhaps in terms of Interest Rate policy which will remain fixed in the next few weeks or months even for certain times the election that is a huge possibility for an enormous amount of oil city coming up not so far away. Now i want to talk a little bit about this in video acquisition of arm what do you make of this deal of Analysts Expect back with backlash and regulatory hurdles considering the u. K. Based Company Provides technology to many of invidious competitors. Well i think some rumors exergy lazing that nvidia wants to buy on to basic destroy the company and make life difficult for indias competitors that sounds a bit of a strategy in america sense of want to do that i mean obviously in these competitors can go elsewhere for the intellectual property that has concerns and c p us they provide so its not the only game in town there are alternatives to it so if you didnt really want to poke his finger in his composure designs they could do it but it would be a fairly silly things to do i think much more likely is the u. K. Regulators look at this and say we dont necessarily want one of knowledge of champions and theres not that many of them in the u. K. To fall now under the jurisdiction of the us to become a us company and have the us decide where it can sell its intellectual property and not i mean you could imagine such a scenario where the Us Government says the u. K. Government is not allowed to back so that technology for National Security reasons so that would be sort of a perverse outcome that the perhaps the bush government wants to avoid and their shoulders trying to get assurances from us the u. S. Regulators that wont be the case. Will be free to continue just a list for us overseas but that is a very real risk in this so i think you might well see the u. K. Regulations block this and say no thank you were going to were going to walk away from the still out of the National Security interests you know thought big actually bought our back in 2016 for 31000000000. Dollars now and is now selling it for roughly 40000000000. 00 at the heck of a profit but is this an attempt for a soft bank to unload an asset at a profit after struggling with the likes of we work or is it just Good Business sense as far as you see it. It is certainly at a profit that seems to have been somewhat elusive for a soft bank in recent times and actually turning a profit and things we saw the debacle with they didnt cover themselves in glory with. Just last week or 2 weeks ago we were talking about what sort frank was doing with the sec which is referred to as dont look like a little hedge fund within the organization without letting anyone know so yes that they preach seem to rack up some wins and show that they can actually win so high the way they have in the past a bear in mind. Its a 1000000000 selling for 40000000000 between 2016 and now its not terribly impressive i mean Just Announced that it went up over 130 percent in the same time in the s. And p. 500. 00 is up over 70 percent so 8. Percent return for you its not been impressive so it looks more to me like soft bank is trying to sure its Capital Position and trying to generate some cash to absorb the losses that have to have as a result of the pool trading activity and i went on this quickly gilliard is actually obviously been at the forefront of the news amid the pandemic with their treatment rim does appear now is this purchase of amino medics and their biggest care the Breast Cancer drug and attempt to keep that momentum Going Forward after the times of copan 1930 seconds for activia. Well i would say graham dismissed the disappointment it has not in the Clinical Trials theyve had to go through they have not been terribly effective. In just how many School Clinical significance so its definitely an attempt to remain relevant and it looks to me like theyre paying this premium on the acquisition is enormous so its next but its for a sion to me octavia morans the c. E. O. Of optimist l. L. C. Thanks so much for your time. And thats it for this time you can catch boom bust on demand on the brand new portable t. V. App which is available on smartphones and tablets through google play in the Apple App Store by searching portable t. V. Sort of t. V. Can also be downloaded on a newer model Samsung Smart t. V. s as well as a broken devices or simply check it out at portable dot t. V. Well see you next time. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation community. Are you going the right way or are you being led. By. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or remain in the shallowness. Of us up the post. Office. Last time we chased. Each one of them carrying 20 kilos d of drugs. First offense. That they just stepped right. Into the fray and we i mean. They have. This is for me. Even if. I dont see it or know maybe they dont make or. Break right. Now what. Headlines this lunchtime russia can. Share evidence relating to the alleged poisoning of alexina. Official request for. Theyre asking the german side to confirm everything it claims with facts because as we have repeatedly seen unfortunately many of the. New york times meantime citing an anonymous source claims to return to russia. Please formula one star Lewis Hamilton could face punishment for a t. Shirt highlighting the campaign against Police Brutality which may have fallen foul of formula rules we look at whether or not sporty