Transcripts For RT Boom Bust 20240714 : comparemela.com

Transcripts For RT Boom Bust 20240714

Important Economic News of the day into 127 minute broadcast we got to keep it moving lets go. Surprising return for a major antitrust regulator at a time of increasing scrutiny for big tack leads our global report today as margret of the us together is nominated for a 2nd 5 year term as competition commissioner of the European Union the incoming president of the European Commission ursula bonn laden bonder laden has also slated to go for a new role as one of the 3 executive Vice President s of the commission allowing ms massacre to consolidate and expand her considerable influence over antitrust regulation most specifically Technology Ms besser has previously taken on the titans mostly us based that dominate our wired world the returning competition competition commissioner previously tangled with apple and forced ireland to claim 15000000000. 00 in taxes to recoup overly generous tax breaks to apple that ran afoul of. E. U. Rules as vested are also has imposed fines of nearly 10000000000. 00 against googles Parent Corporation alphabet her record of accomplishment at a time of growing global scrutiny a big tech may have won her a reheard renewed and enhanced role but that same record suggests she may soon openly clash with the trumpet ministration in the us which has pushed back hard on her efforts to rein in the industry giants. And here to help us dig into the future of big tech on both sides of the atlantic plus so much more is out a message the c. E. O. Of the at a mess Trading Group adam welcome back to the show. Thanks so much the pleasure to be here now and im 1st when you heard the news that margret of us together was returning with this enhanced role it was reported as a surprise to most people were you surprise and what were your 1st thoughts on stock price affects from this news. So the 1st thing i do is i checked the stock prices other than facebook being down a little bit that didnt have much of an empath i read someone say its better to fight the dragon that you know but she has not been easy on Tech Companies so i think if i was one of these Tech Companies and i saw the news i below disappointed that she was there because i felt like there was only upside for somebody else and theyre going to remain under fire and speaking of that fire here in the u. S. We saw the heat on big tax increase significantly today after announcement last week from the attorney general of new york and 7 other states a probe into anticompetitive practices by facebook on friday last week the new York Attorney general Leticia James said we will use every investigative tool at our disposal to determine whether facebooks actions may have endangered consumer data reduce the quality of consumers choices or increase the price of advertising now on tuesday another group of a. G. s from. States puerto rico and the district of columbia are launching an antitrust investigation of google california and alabama were the notable holdout states on that action but adam this seems like a very rich area of investigation for prosecutors and regulators to find conflicts of interest and antitrust concerns how do you think these probes will play out in the market they just seem to be starting. So much the process there to start facebook is under under scrutiny for privacy google is under scrutiny for a monopoly 50 attorney generals coming together has shown to be powerful in the past they came together to fight big tobacco and they won they came together to fight the Mortgage Companies and they won they came together to fight the opioids and they won so theyve shown that bipartisan attorney generals working together can be very powerful and effective now i think the biggest thing here is uncertainty and we just saw this in opioids with johnson and johnson when they had the court case is settled it was it was a multibillion Dollar Settlement but the stocks surged on the news i think just that relief from the uncertainty being over as long as there is uncertainty over whats going to happen and what these fines will be whether they will have to break off parts of their company theres going to be an anchor on the stock prices because you always have that in the back of your mind until its settled so while these stocks have an anchor there upside will be somewhat limited right at this very point we saw opioid related stocks go up after these settlements similarly we saw facebooks stock actually go up after they paid a major settlement because it was already priced in largely among investors but on facebook the u. S. Undersecretary of treasury for terrorism and financial intelligence. Told an audience and burn the face. Spoke libra Virtual Currency project must meet high standards on illicit money flows if its going to be allowed if the standards are high from u. S. Regulators can facebook meet them on these concerns of Terror Financing and Money Laundering. 2 thoughts there number one the fact that facebook is getting involved with crypto currency is after all the heat that theyre already on their means they must see a major opportunity so as much as im skeptical about the kryptos. That caught my attention the fact that theyre still willing to pursue that the nice thing is if anyone can prevent Money Laundering well its a company that has what 500000000000. 00. Facebook has the money and the task of anyone to be able to regulate it so yes i think they can. They could bring regulation into that area but for me its still so surprising that they wanted to get in and it makes me wonder how much upside there is there right it must be something very tempting when the challenges seem so numerous to this on an antitrust basis to this new project in other tech regulation news from the us to california where you were. Pledged a total of 90000000. 00 to contest a bill passed by the California Legislature that would require those companies to recognize their drivers as employees of course a huge part of the value add for capital in this gig economy scenario has been precisely avoiding even the minimal legal obligations that employers typically have in United States how much of a threat is this law to their Business Model to begin counting the more generally if these firms are required to actually treat their employees as a boy use. Im going to wrap up this whole conversation we just had based on that question the difference between these companies and Companies Like facebook and Google Facebook and google have made it theyre going to have money to defend themselves theyre going to be able to survive and thrive look at i. B. M. They havent come out with something new or good in over a decade and theyre still doing fine because they had a head start for the overs and the lift and duress theyre losing money right now without having these people as their employees these drivers as their employees if theyre forced to recognize them as employees they will not all make it they can handle that storm the 90000000 is. Nothing for the survival of these companies where they have billions at stake this is this is life or death for the company you cant take a company thats losing money at billions of dollars of cost and expect them to survive if this ruling goes through you will not have all 3 of them you know maybe. Have won. Because they have the biggest star its a solid take there from adam also finally the Global Business world is marking a major transition as jack ma the founder of ali baba the chinese retail giant is stepping down formally on tuesday charismatic and influential founders can create Great Companies but sometimes struggle to pass on their formula for success mr ma seems or made great efforts to do that in the Corporate Culture at all bob what does this transmission transition mean quickly for ali baba and for why bills an online commerce amazon walmart and others. So interesting with jack because if you read about his background he didnt have a strong tech background he didnt have a Strong Financial background he was just koreas magic and he was a visionary and he used that to turn into what he and vision did to be. Because he always had a plan he had a plan for this he let everyone know a year in advance that this was going to happen so everyone was prepared for it like i mentioned earlier bob as a company that has the money the power theyre going to be able to stay in business even if you thought jack steve jobs and this is the end of that well 1st of all say look what happens after steve jobs left you could say there hasnt been as much creativity but the stock price has done 5 so i wouldnt bet against for over a decade just because jack mas leaving but more from our point of view an amazing leader from a poor background in china now worth 30000000000 dollars and wants to teach in stuff just a great story he let people know this was happening. And so. It would be more fun with him so there but will be fun retiring in 55. 00 quite an accomplished guy. Adam mesh of the Administration Group thank you very much for your time. This is great backs. And brazils Retail Sector is preparing for a major shake up as ecommerce giant amazon will begin offering its prime Subscription Services in the nation the move has long been on amazons radar as the company has aimed to expand its presence in latin americas top economy shares among brazils top local retailers have slumped on the news as they brace for amazons impact according to reuters in addition to on limited to day shipping the prime package of services will also include video streaming opening yet another front for competition and the market another notable fact about the move is the pricing scale which will cost the equivalent of 2. 42 monthly much of last than the cost statewide. Surge in the price of pork in china is pushing up the broader inflation rate there the latest figures from chinas National Bureau of statistics show port prices increasing by 46. 7 percent in the month of august 29th teen compared with the previous august that was the biggest monthly pork price increase in cents a 56. 7 percent increase in july of 2011 spike in turn to food prices toward a 10 percent increase and boyd overall on your inflation to a 17 month i have 2. 8 percent in august that overall inflation figure matches the july number and came in above surveyed expectations of 2. 6 Percent Inflation prices are fresh fruit also made a significant contribution to the inflation figures jumping by 24 percent that number was a decline from julys 39 Percent Inflation for higher prices do seem to be the trend for their foreseeable future pork the president of the China Meat Association has said the current regional outbreak of swine fever could slash chinese pork production in 2018 by 15 to 20 percent. Time now for break but stay tuned because just after the break we take you back to singapore with our very own christiane. As she continues. On the topic of global. Markets on the horizon. Here are the market numbers of the close. Thank. You. Today there are good dentists and. The bad news in the United States. The good. Lord in syria. And the us military were engaged in covert actions really throughout the world. Bad guys or more of my guide to financial survival this is. A device used by professional scallywags to earn money. Thats right these has clearly not accountable. To the. Totally destabilize the Global Economy you need to protect yourself and get informed as. Thousands of american men and women choose to assume of a countrys military decision. Every song came to a complete. The day that i was right. To hold a shot to kill me i would destroy. Any screamed at me and come in and grab my arm and he write me. If you take into account that women dont report because of the extreme retaliation and its probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military is a very very traumatizing have happened but ive never seen trauma like ive seen women who are veterans who suffered military sexual trauma reporting rape is more likely to get the victim punished. And almost 20 or career or chose very invested in and i gave. The founder who was not even. Put on the registry this is simply an hour and violence male sexual predators for the large part of whoever is there whether thats men or women. Welcome back as major global economies continue to dread turf blows instability has grown a long side stoking fears and threatening markets however singapore has continued to discover ways to maintain its growth and retain sustainability boom bust christiane is on the ground in the city state and gives us an indepth look at the state of singapore. In the latest 2018 Global Financial Center Survey new york had overtaken london as the worlds most attractive Financial Center followed by hong kong and singapore london had dropped due to the uncertainty of bag that and expectations are that this year we could see hong kong and singapore swap rankings as well as the unrest continues in hong kong lets break this down into 2 parts the public up the markets and the private Wealth Management sector. Singapores Capital Market has not been spared from the market volatility and the global macro headline risks 29000. 00 remains to be challenging with it as a marathon 8 percent year to date as a trade reliant economy contracted 3. 4 percent in the 2nd quarter the biggest decline since 2012 singapore is often the bellwether for Global Demand given its heavy reliance on Foreign Trade and this points to the risk of a deepening slowdown in asia on tuesday the s. G. I. Barely moved at all by chinas stimulus measures adding america 6 bits to finish singapores complicated integration into the regional and Global Supply chain makes it especially vulnerable to a slowdown in growth and the tariff wars exports account for 176 percent of g. D. P. And since the start of the trade war in 2018 the markets have seen a dramatic slowdown 2800 was a huge disappointment for i. P. O. s as they raised only 710000000 the lowest in the past decade due to trade concerns and the Rising Interest Rates now while the Public Markets are slump singapores private Wealth Management sector is one of the cornerstones of the economy and thats thriving unlike the us or china the stock market actually has very little bearings in singapore and the tremendous growth and its Wealth Management sector the World Bank Rank the nations 2nd out of 190. 00 countries for the ease of doing business its purchasing power parity ranks 3rd in the world and its private wealth overseas more than 2 trillion dollars in assets specialized and b. T. S. Well theres a huge psychotic made between the performances of the Public Market and the private markets in singapore the mutual headline risk remains to be the outcome of the trade war singapore now takes its full year growth between 0 to one percent as a Manufacturing Sector has taken a huge hit the most recent tax on 300000000000. 00 of imports covers a large portion of electronics that was deeply affect the supply chain that singapore is so deeply plugged into the situation is being monitored closely by the government as the mar. Additional stimulus measures reporting from singapore for boom bust. And as you saw on monday kristie i managed to catch up with world renowned investor jim rogers he gave us his take on the future of the Global Economy and what he expects Going Forward this time he spoke to us about the ongoing trade war and what could be some comic forecast for several nations notably japan here is the 2nd part of that special interview. So essentially right now there doesnt seem to be any end to the table even though there and are a positive resolution would actually drive the markets up at this point do you see any end to this upcoming talk about since we are in the 19th month but. If they print more money and if they announce trade war is over there are things that can cause the markets to continue to rally now its rallying the us in this as you are well aware and around the world its its already stopped in many places around the world there are not many markets left i cannot think of any in the countries so its already starting. And when they. Theyre going to do their best theyre going to put out pull out all the stops but. Weve had bear markets since the beginning of time were going to continue to have bear markets until the end of time janet yellen who was the head of the central bank in the u. S. Said a lot not long ago that its all over dont we have to worry anymore we have solved the problem we will not have the economic problems anymore so if you believe this is yellin shes got a ph d. From ph d. From college if you want to listen to her you can because she says that no more no more problems coming my view is. We have always had bear market. Were going to continue to have u

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