Transcripts For RT Boom Bust 20240712

A big win for tic toc in the battle over whether the company will be allowed to remain on u. S. App stores now a ruling by judge carl nichols of the u. S. District court in washington d. C. Blocked the trump administrations attempt to ban take back downloads in the u. S. With the ruling coming less than 4 hours before the ban was officially set to take place now a spokesperson for the Chinese Ministry of Foreign Affairs responded to the judges decision early monday. We have taken note of the relevant reports china has always opposed the us as hegemonic practices of generalizing the concept of National Security abusing state power in unreasonably suppressing in apprises of other countries we hope that the us side what our knisley respect the principles of market economy and fair competition abide by the rules of International Trade and economy and provide a fair open and nondiscriminatory Business Environment for enterprises of various countries to invest and operate in the United States and of course this ruling is only temporary but it will provide more time to work out a deal with oracle and walmart to remain active in the United States the u. S. Congress department is now planning for a november 12th deadline to implement a full ban rendering the app unusable for u. S. Based users if a deal for ticktock is not completed by that date joining us now to discuss our school bus cohost ben swan and christy i thank you both for being here now christy i want to start with you the truck administration really wants this ban to slow the growth of tik tok which continues to add nearly half a 1000000 users every single day does this ruling cripple that effort in your opinion. I would say it crippled the effort of the trial from Administration Still remains committed as ever to slowing down take tog and their growth and this ruling is merely just dragging things out and staying the final judgement so while this is a significant win for ticktock it did not come out unscathed so trumps fixation on take talk has already been quite damaging and costly for ticktock mounting legal bills obviously but tick tocks growth has also been impacted due to his dispute with the us and made it very difficult to attract new staff so since july has reported that 52 job candidates have actually turned down jobs and declined to work for bite dance or tech talk citing these perceived uncertainty caused by the governments investigation of tech talk so as a result of slowing growth and slowing innovation due to having to fight off the massive target on its back instagram has actually managed to catch up quite a bit and is encroaching on their market share so Facebooks Instagram reels right now release earlier in august is starting to build a base as influencers have now started to switch over for free not to put all their eggs into one basket just in case something happens to take it actually does get banned and influence of course have no platform loyalty the more they can get their content out the better it is for them so real is pretty much identical to take talk so that has been putting a ton of pressure on tech talk to maintain their growth and its interesting because when we talk to influencer exact carriers one of the top 3 influencers on take that he actually mentioned that as something that includes you to be aware of is diversify diversify diversify because you never know what a platform is going to start to lose steam or like the situation with to talk maybe face a ban here now but november 12th is this new deadline before an all out ban but so much of this deal is dependent on beijing signing off on the sale of ticktock or the sale of portions or the oracle walmart deal if you will is there any indication that china is actually moving closer to a yes or are they going further from it. Transiting further away before i get into that though i want to say one thing about instagram a real. Which is that if you look at what instagram is doing right now remember back in 2016 facebook got in trouble because it was massively inflating viewership numbers on its a Video Service which at the time was newly found but the reason for that was because facebook was trying to compete with you tube and in order to get influencers to move off of you tube and over to facebook they inflated the numbers of how many people were actually watching the videos i think the same thing might be happening with reals ive been talking with a number of in. To talk influencers who are moving over to reels and what they say is that theyre seen for a video that might get 5 to 10000 clicks to talk because to talk a slowdown a lot theyre getting 30 to 50000 on the same video over on rails but the difference is the likes there are still more likes happening interactions with the content happening on tick talk not as many on real so just as a side there we might be finding out in the few weeks that or a few years from now that instagram is vastly over producing those numbers in order to get influences to move now having said all that yes i think china is moving further away i want to go to china daily which is the National English language newspaper over in china actually wrote about this recently and they said this beijing is unlikely to condone the white house strong arm acquisition after all no deal is better than a deal made under duress at this time why would the chinese agree to this deal i dont see any reason why they would want to keep to talk around if its being basically coopted by the Us Government to take advantage of i think as this goes on beijing gets further away from mccain the deal not closer to bed when we talk about users in and influencers and the movement of these social media apps ticktock so modeling actually based on a previous band in india in 21000. 00 in a case that applet lose up to half its daily active users in the United States if it were banned for just 2 months if it were banned for a 6 month tictac said between 80 and 90 percent of those users would not return to the app at all if the us really wants to deal with oracle and walmart why are they trying to slow or hurt to talk to business during the interim. Yeah thats a really good question i mean if the president says he wants this deal to be done where oracle and walmart of basically getting the opportunity to own pieces of it walmart wants to be a part of this deal because they see ticktock as this massive place for advertising and building out its ecommerce site but if you have a shutdown of this side for as you said 6 months were talking about a 90 percent decrease in users who wont come back to the site essentially walmart and oracle would be getting 20 percent of a site thats worth virtually nothing so the troubling ministration also has to look at the fact that every step they take that dissuades people from being on to talk actually harms their Long Term Plan if the plan really is to put it in the hands of these American Companies or when walmart youre actually going to cause the app so much so many problems moving forward that it cant survive so that also raises questions for me about how much the administrations actually working with atika competitor like facebook and instagram who would like to see that scenario where 90 percent of the users go away and never come back and its interesting because one of the big things about social media is the retention of users is all about forming a habit forming the habit of like you said if it gets taken out where are you going to use is going to be and i want to move on to another story kristie the United States has actually imposed restrictions on exports to chinas biggest chip maker s m i c after concluding that there is an unacceptable risk that equipment sold to the company may be diverted to quote military and use and quote for their part of some i see says that the company has no relationship with the Chinese Military and does not manufacture for any military and users or and uses but is that still not enough kristie. Apparently that isnt enough at all because just like its predecessors. They have all denied these accusations that the us hurled at them and even though the u. S. Has absolutely no proof shows absolutely no hard evidence on any of its claims they continue to make these accusations and continue on restricting them so no thats not enough and it will never ever be enough because for all these socalled risks to National Security its simply an excuse to kind of crack down on chinese own Tech Companies so now suppliers of certain equipment to s m i c they want to have to tame special export licenses and u. S. Companies including lam research k. L. A. Corp apply materials they all need to get these licenses in order to ship certain goods to s. M. I see now making it harder for it to conduct business so were living in this world now where companies are being targeted and theyre now guilty until proven innocent which is another very dangerous precedent to set because now you can essentially accuse any company of some sort of wrongdoing punish them cripple them cripple their business and drive them out of the market all without any evidence at all so meanwhile the company they get their resources train having to fight both fronts having to defend itself and prove that its an ascent while also struggling to get around these restrictions and maintain operations at the same time. As every day is there any actual Legal Recourse these companies have because is it frankly legal in a world stage for the u. S. To take issue with these companies simply because theyre chinese owed im not sure the there is a ability to do this i mean no its really been tested in the courts yet based on that ground i think it should be tested in the courts and the u. S. Government essentially say companies cannot operate in the United States that are chinese own theyre not saying the Chinese Government theyre claiming the Chinese Government has access but as christie said theres not been one bit of proof thats ever been presented to the American Public about we chat about wild way about z t e about. Another book theres been no evidence for. The only common link between these companies is that they are chinese own which means youre basically acting in a way that says if a Chinese Company owned by Chinese People operates in the United States its a National Security threat that would be the same as saying hey we know that the government of afghanistan is very corrupt we know that for a long time therefore any businesses owned by people from afghanistan in the United States are a threat to the United States due to their corruption one has nothing to do with the other and if youre going to make that case and shut down private businesses you better be able to prove it i think it should be tested in court im surprised it hasnt been yet boom bust cohost Ben Swan Christiane thank you both for your time. Thank you. I. Was the death toll from covert 19 as a clipped 1000000 People Experts at the World Health Organization believe we could see that number double if proper precautions are not taken to limit the spread of the virus during a press briefing friday dr mike ryan executive director of director of the w h os Health Emergencies program was asked about the possibility of 2000000 deaths due to the corona virus. Its certainly unimaginable but its its its its not impossible because we look at losing a 1000000 people in 9 months and then we just look at the realities of getting vaccine out there in the next 9 months these and remember we have things we can do now to drive transmission drive and drive down the number of deaths were seeing clinical case fatality rates slowly drop 1000000 is a terrible number and i think we need to reflect on the us before we start considering a 2nd 1000000 there is a lot that could be done to save lives. And with this in mind lets take another look at the trends in spreading the virus globally with our t. Correspondent side cabbage or so i were with my friend i mean out of the recant were now topping 33000000 cases globally but the good news is that over a 75 percent have fully recovered so about 23000000 have fully recovered but deaths globally we are at 1000000 but i mean just think about it just 6 months ago we only had a few 100 cases so we thought and now over a 1000000 deaths and the number of cases reported in the u. S. There are over 7300000 cases over 200000 deaths again here in the u. S. Now taking a look at the daily new case and deaths reported here in the u. S. On sunday there were over 37000 you cases reported and over the past week theres been an average of about 43000. 00 cases per day now thats an increase over 24 percent from the previous week and deaths there were 267. 00 deaths also reported on sunday again an increase but this time just 2 percent but i wanted to take a look have you take a look at this map now youll see right here there are 21. 00 states in total that are seeing a increase between 10. To 50 percent to that stakeout specifically are the 2 into darker green now thats a new mexico and North Carolina theyre both seeing increases over 50 percent so just in one week they have it doubled their cases from the previous week now these other 19 states theyre showing a steady trend so the cases are going are not going up there not go not going down but about the same number of cases and then there are 10 states that are going down which mean 10 to 50 percent but no state is showing any kind of the kleine of more than 50 percent so again not where we want to be here in the u. S. Right now brant and were seeing new cases in the europe so were weve seen the trend going upward there so theres right now several European Countries that are seeing a 2nd wave of cases there spain france and the u. K. 1st spain now theyre seeing most of their new cases in madrid thats also where more than a 3rd of their 720000 cases that were reported but this is the thing so while the Spanish Government right now theyre urging the authorities in madrid to tighten the restriction across the city there seems to be a stand up between the 2 governments because spains cities or regions i should say theyre in charge of their own laws so that Central Government does not have the power to impose any kind of restriction so they did put restrictions on their ears called in 1000 hotspots on friday in majed but they are rejecting for a city wide a lockdown now moving over to france thats also seeing a big 2nd wave now the biggest worry in france right now is that intensive care unit and that could the reason now they have tripled since september 1st and to combat all this and new measures did go to infect on sunday they have closed bars and restaurants for one week but frances government is saying that there is no plan to all. It or any kind of new nationwide lockdown weve been seeing a lot of protests coming out of paris from bars and Restaurant Owners so there are really worried about a any kind of lockdown happening there which is not happened yet and lastly in the u. K. Not only are they dealing with a 2nd wave but the British Government is also warning that residents there are warning residents of represent all 3rd wave happening so the British Government is planning a new lockdown across a majority of norden britain and even potentially in la and london not under this new a lockdown brand things i pods restaurants and bars would be ordered to shut down for 2 weeks but that could extend even more if cases dont go up so well be watching this to see where theyre headed this coming week brant our chief correspondent richard thank you for keeping us up to date. And time now for a quick break but here because when we return it has ramped up its operation in london yet again at the ride sharing giant as won back its license to operate in the british capital going to break down the companys stock. And also the overall state of the market that we get a break here of the number of the playing. Field. My name is sucking the seat on. The subjects we want to see to show. Up at the border you know even. When you know weve got to get it down because you dont need to move because you will not see skits and i use that down sixtys to make it any day easier and those who teach school on drugs used to be able to use. The man. Who comes to people who comes because who comes during his childhood he said if the. Music that. I love who dies because he makes me copy i love he dies because he makes me copy plane flew to fly. And when he will teach me. Because its backed off my ass he was loved. You know i think. Yeah. I do think. That i do that. I am. I am. 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The welcome back ride sharing giant goober will be able to operate in london for the next 18 months a judge has decided in an appeal to really by regulators that resulted in the suspension of its license in the city challenge 821000 decision by transport for london not to renew the companys permit to operate in the city due to safety concerns regarding imposter drivers now the extension of the license comes with 21 conditions including the need to provide regular independent reports to regulators the company said the ruling is a recognition of his commitment to safety and promise to work constructively with transport for london moving forward following the decision london mayor sidique khan issued a statement saying i can assure londoners that t f l will continue to closely monitor and will not hesitate to take swift action should they fail to meet the strict standards required to protect passengers on the news over stock jumped as much as 6 percent at points throughout the day monday and World Markets are mostly up monday with equities in the United States popping on the back of the tech and financial sectors in tech amazon apple Google Facebook and microsoft all had significant gains throughout the day while big banks like j. P. Morgan chase bank of america wells Fargo Citigroup Goldman Sachs and Morgan Stanley all jumped 2 percent or more throughout the day so lets go ahead and take a look at the state of markets with Michelle Snyder she is the director of trading education and research at market gauge dot com michelle thank you so much for being here i want to start with the Company Posted a loss of 1800000000. 00 in the latest quarter due to the pandemic forcing people to move around last staying at home now that coupled with the issues that theyve had in london and in california has been cause for concern for the company especially as they move to actually turn a profit for the 1st time but their stock right to does you should. Today on this news what are your thoughts on as of now. Well 1st of all if i look back at it from the end of august Early September it already went into what we call a bullish phase in that it was holding some key moving averages that a lot of investors like to look at so when you have a kind of support even before all of this in the face of bad news all it takes is a catalyst like what happened today with london for the market to move up and you have so many investors right now and speculators in the market theyre looking for Something Like that to move it up so the question really becomes at this point what happens from here so if we take a look at just the price of the stock which is what i really like to do at this point now i would say 32. 00 to 33. 00 is a wall of support and if we can continue with it rallied right into resistance in a just a little bit over head if it was around 37. 00 a share and we could actually see a really fly so its a matter really i think of what is attracting people on any given day in the shiny objects and that seems to be the case a lot lately with Market Movement i want to talk about this overall momentum that were seeing the Banking Sector is doing well monday after struggling since march whats pushing banks up in this momentum here to stay or are we seeing the same thing that were seeing with over. Well its definitely not been anywhere near as good a shape as that and. The Banking Sector has just been killed for a lot of reasons and a lot of good reasons mainly covert related reasons a lot of moratoriums expired and then also you have bankruptcies that have continued to flow so i think probably if we separate at some of the other news that happened like h h s b c buying some chinese banking stocks if we take that out of the equation and we just really what is the driver today its going to be stimulus money and if theres going to be any kind of real stimulus money coming into the United States i think the Banking Sector could actually catch a lot of people who are short forcing them to liquidate their shorts and possibly go along and again become the new shiny object so in the Banking Sector i like to look at Goldman Sachs because a sort of almost a contrarian type trade even though its been down with Everything Else its had a couple of good pops lately when the market has gone up so thats what im looking at right now so if Goldman Sachs can hold around 95 and clear really to 05 and i think we may see just a more sustained rally in that whole area and of course you know its have something to do with that as well it what are we seeing in tech theyre having a great day as well after 3 weeks of sell offs what do you see in texas is that volatility go on or should we just be ready to brace for the worst to get. Well volatility interesting that you would bring that i think has been really fall apart today so theres still a fear factor in the market even with the fine and of course also have been actually again going back to the speculators and im certainly not sounding like im going speculate as i think theyre great i myself and one by the way i have been sort of have been surely going into tech for really pretty much since we saw the new gear in the market back in april and there are some good reasons for that i think the bigger question now is if we just take nasdaq where a lot of the tech stocks live at the highs that it had in september 2nd which was 0303 and below that we had most recently last week which was at 260 we just take a midpoint of that well look at to 80 so todays high was around 277 so i think if we can get through that 28000 or to 80 in the q. s then well see more buying coming in in terms of whether or not anything sustains i think thats why were seeing the vix holding up because its like markets like floating through one of those child games of bubbles and its bubbles everywhere and so full of bubbles have not really affected the market too terribly but if one of them splashes down then the whole picture can change and one of those bubbles no no the Election Results social unrest we have a possibility now with the 2nd wave of coal that as youve been talking about on the show we have also a situation where the dollar is at risk china u. S. Could get more interesting and then we have a little situation going on near russia with. Johnny and armenia having a little bit of a battle right now which is oil related so well see if i read it what you just what would you lay it out with those 10 factors that we have to look at those are simple factors everything is thrown up in there i only have about a minute left here but i want to hit on this kind of more fun story. When shares of big Hit Entertainment the label behind k. Pop sensation b. T. S. Or c. Price monday at the top of their range prior to a highly anticipated i. P. O. In south korea now shares were priced at roughly 100 15. 00 big hopes to raise 820000000. 00 in the offeree this will be the biggest offering in south korea in nearly 3 years ive got 30 seconds what do you make a big Hit Entertainment. Well i think the company is fantastic and they certainly have put a lot of professionalism include creating that site the dancers that are amazing that are iago figure that music etc the production slack but whats happening with a lot of these i. P. O. s not to sound like Debbie Downer here is that really theyre raising all this money to pay back their venture capitalists and so when you have a high 820000000. 00 hit that has to be paid back to these investors thats one of the reasons why its thomas become it so i think like everything like even with big light went from green 19 to 2 away within a week so well see what happens with were there k. Pop and whether it can maintain its its levels as lofty levels littles Michelle Schneider of market gauge dot com thank you so much for your time and thats it for this time see you next time. And there are no dog birds or head. Far behind or if you go by side. Of our group. Every day is that you. Just. Committed. To move. The net to fish you know not bush before. They are the house of. God since we. Need. To meet dont hate. This kid or. Any. Kind of prison system definition in. The news. As election day approaches there are growing concerns whether the oakum will be contested whether the election will be an agenda that we are told this election truly matters were always told this however this time around theres a different feel theres an existential to disallow action how many voters will say not my president after november 3rd. Always be polite never engage with baited or confrontational. Dont get into any conversation or start answering questions just. Surviving. Definitely. Youre more likely to walk free if youre rich. Or if youre poor and. Youve got 2 eyes 2 ears and one mouth. So you should be seen in here and a whole lot more in your sand if you dont take that advice easy going to dig yourself. Continue trying. Terror. Strikes on the regions capitol. Hill side to come to. The white behind as a big john with president taking a hardline approach. Will continue to stand by his friend and brother in azerbaijan by all means and with all its heart. One immediately leaves the territory it is occupying the region will return to peace and home. With better still great in a political crisis following the disputed election the french president meets the countrys exiled Opposition Leader and agrees to mediate in the games