Transcripts For RT Boom Bust 20240713

The event the vote in the commons produced a typically ambiguous but Drama Building result the Withdrawal Agreement bill alternately advanced past a 2nd reading with 329 votes in favor and 299 opposed however the p. M. s quickly m. P. s quickly qualified that outcome by then voting 32223082 reject mr johnsons plans for a thursday vote on final passage mr johnson threatened early in the day to poll the Withdrawal Agreement and push one to call his own an election if his plans fell through they were apparently for oil by the house of commons. And now im going to take it all down today as ambivalent actions were now joined by former m. P. Of scottish. Welcome. Tommy after todays touted as. High with the bill advancing but the p. M. s timetable being rejected again so where does the process go from here just over an hour ago we just saw a report that mr johnson called the results joyful which seems quite remarkable so well the Prime Minister back up his threat to push for election are trying to accommodate the common house of commons on a timetable. As a good question that krissy the problem is we probably have taken one step forward and 2 steps back to the because there was a vote in principle and support of the board of joints and it was that all deal which more score meant teeters even though was a supporter believe was even worse than trees amazed so thats the irony of ironies however the m. P. s in the commons then did as they slumped borders johnson firmly across the face because he said he was demanding to have this whole process done in 2 days and he wanted to buy the 31st of october no no one knows why the stock to foster one. Crucial to board assurance and some people speculate maybe hes got a bet on it with some bookies or something but the crew says there is no we could go through such a complicated 100 page bill into these so the m. P. s voted in principle in support of the bill but they said but not in 2 days they want x. To the team to analyze. And perhaps a made the bell so this saga is far from over its going to die or even. As far as whats motivating the leaders here to get this done we also heard rumors that leo to carl. Irish taste such as eager to get this done before his take its fresh air on november 1st well see if that happens but on the e. U. Side of this process we also saw some Movement Today from donald tusk and Michel Barnier way what has been the word from the continental e. U. Leaders about todays events most pointedly on whether or not they will accommodate delay or extension from the u. K. Side. The peening Union Leaders are absolutely desperate not to appear to be forcing a new deal but except no if the unit people leaders were to turn roland in the next few days and see no no no more extensions then they were defectively a new deal breaks and all of the uncertainty that brings across the whole of the utopian union they wouldnt do that up until today they were saying well were not very pleased no let it stay engine do you really need more tame except to etc after todays meeting and vote in the parliament its absolutely clear the european Union Leaders will get an extension probably until the end of january and that will undermine the authority of broad assurance and bodies joints and said that if he didnt get breaks it done by 31st of what then he would die and id know there are plenty of people all over scotland offering to dig those debt gees for bonus joints and to enter into it while it keeps these what the not or not remains to be seen he said still if you lost this tainted a building vote then he would force a general election quite frankly i think thats whats absolutely necessary to break the deadlock the people of but i 10 and that means well scotland and Northern Ireland are completely divided on this scotland voted remain nolan i live with hed remain. Leave wheels voted leave however they didnt want to leave with the ideal the should have the option to them a general election and as the voice of the people of england what if to leave the utopia let them do that thats democracy but the people of scotland are clearly growing and a different path and interestingly interestingly daniel the people of Northern Ireland appear to be going in a different path as well all of the poor is no assuring increased support for a referendum on a United Ireland wouldnt it be absolutely ironic if borders joints and rushing to get a break deal actually led to the breakup of the British State with scotland going for independence and Northern Ireland going for reunification with the island of ireland so now weve touched on this before but the risk that this entire process could be to a disunion in the u. K. Seems to be under played in the coverage the Vice President Michelle Oneill put a point on today suggesting that a poll on unifying the island of ireland under one flag could happen within 5 years say clearly baghdad has become a catalyst by the us so what do you make a mess oneill suggestion. I think mr kneale of feeling is trying to articulate the mood music is playing across the north of ireland just no there is obviously. Implacable unionist support in Northern Ireland to remain part of britain however that is beginning to free and isnt as strong as it once was because people are would eat a bit leaving the youd opinion that it me leave them economically washed off in the north of ireland than the. The if they keep us as built that it would be better for Northern Ireland to join ireland and become a United Ireland which makes eminent sense and is logical to most people if the people of Northern Ireland vote for the up then they would do so on the basis of believing it would be better economically for the families for the children for school and for all of the 7 seas across the island that it separately not be rude i mean years ago you this it or that will never happen that is no time jubal prospect and following up on Northern Ireland the federation of Small Businesses there has weighed in with their disappointment over mr johnsons qualities in the deal over the socalled backstop issue so setting aside the timetable could mr johnson still lose on a final passage whenever it comes over these lukewarm reviews on the merits of the all from business groups and this very interesting backstop backlash. That is new day there on a whole series of quite crucial to be still to come on this was that all agreement it was supported to d n principle with a majority of 30 that included a number of libor m. P. s 19 labor m. P. s voted for the out with that all agreement however it no goo is to the detailed examination and thats where m. P. M. P. s compute for what amendments and one of those amendments for instance could be that the phasing will deal as a referendum of the whole of britain again so that people get to vote on whether or not they support this do not make noise when support and parliament but you know what was bought us joints and how we know lost the support of the dui. I mean be for all of that we should manage to keep the do you be on board but as joins is driven them off because hes done things in relation to this deal in relation to a home ireland released in Northern Ireland and the European Union which. From home. And scotland that has been too much for the do you to swallow. And susie asked for the do you think there are reactionary party i think want to. Think. Of the union beyond the main by joins in this deal so that is new got into the new got a d. This will fail really goes through parliament i still believe my general election is more lately than this deal going through before the 31st october there is a solid prediction from Tommy Sheridan former scottish m. P. Thanks so much for your insight. Dutch investment from process and he is looking to make a move into the british food delivery sector by making a 6300000000. 00 all cash offer for the u. K. Delivery company just a p. L. C. Process said it plans to offer a 9. 10 per share directly to its shareholders for the next 4 weeks scuttling a planned merger with the another letter the company take away dot com take away previously offered an all stock acquisition valiant just at a 15 percent premium but shareholders voiced opposition to the merger saying that the offer was too low but this new offer is even lower however they all cash offer makes a slightly more appealing and richer than all stock in just state for their part suggest that shareholders should reject this offer as well saying that it undervalues the company both as a Standalone Company and part of a merged group with take away process has already put big money into the food delivery sector investing 2500000000. 00 across more than 40 markets including germanys delivery hero indias swedien i food and also as nearly a 3rd stake in chinese internet goliath 10 cent whos behind made when the livery on the news tuesday just a stock shot up nearly 26 percent. As the threat of massive wildfires once again builds in the u. S. State of california p. G. And e. The utility is threatening another power shut off that could impact hundreds of thousands of residents it is raising concerns of a negative impact on the states economy archies rachel bloodlines bring us up to speed on what it all means for the worlds 5th largest economy. The largest city in california has confirmed that as many as half a 1000000 residents could lose power this week as the threat of wildfires continues to increase in the area the latest shut off from pacific gas and electric could impact california resident in 15 counties which are mostly found in the sea euro foothills and the San Francisco bay area in a statement the company gave a 48 hour notice that the potential safety shut off his plan for varying start times depending on locations beginning wednesday evening and is expected to affect approximately 209000. 00 homes and businesses and its many of those residents and Business Owners who are questioning whether the blackouts are necessary and warning that the consequences could be life threatening they framed these power safety shot as inconvenience or hardship for but they dont realize this for people disability its life threatening for some disability this preemptive power shut off would come just 2 weeks after p. G. And e. Issued another blackout that impacted more than 2000000. 00 california residents many were in the dark for days as a result but the companys chief executive defended the decision to cut off power in an effort to prevent wildfires i hear skepticism about whether the shut off was truly necessary and whether the scope was too large. Skepticism that we did this to save our own skin rather than for public safety. The fact is that we did this for one reason and that is safety p. G. And e. Is transmission lines were named as the cause of the deadliest and most destructive fire in californias history last year and the company filed for bankruptcy in january claiming it was facing more than 30000000000. 00 in liabilities beyonds lot of dangerous wildfires over the last year have raised concerns about the Economic Impacts as the state of california boast the 5th largest economy in the world experts are warning that just the last blackout alone which lasted around 48 hours will cost the state more than 2000000000. 00 as a result of mounting frustrations with the utility the city of san jose is now leading the charge to strip any of its status as an investor owned company and turn it into a nonprofit electric and Gas Cooperative which could result in an unprecedented buyout that would impact more than 16000000 customers in washington Rachel Blevins r. T. Time now for a quick break but hang here because just on the other side you know we worked on a continues that softbank moves in to take over the whole working off a start up investigative journalist fans want to standing by to give us the latest on the up start up watch that we got to break here the number of the crowd. That was. There on the official statistics in india consenting children being lost or separated from their parents something to estimate that every 30 minutes in the country the child goes missing. No you dont look it up. On. The National Human Rights Commission stated that 46. 00 miners go missing every year one of the police quoted. The United Nations Childrens Fund has described the situation as genocide and various sources suggested in india there are several 1000000 missing women and children. Is youll be via reflection of reality. In the world transformed. What will make you feel safe. Isolation community. Are you going the right way or are you being. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Already made in the shallows. Softbank is an advance talk to take control of we were whose evaluations saw a spectacular fall from 47000000000. 00. Earlier this year to now under this new deal worth only 8000000000. 00 about a 6 of what the company was america to go under this new deal soft bank would put more money into we work to purchase up to 3000000000. 00 in equity along with 1500000000. 00 in acceleration of equity has already committed now this is on top of the more than 10000000000. 00 that soft bank has already funded we work with over the years as its largest investor in addition c. E. O. Adam newman would receive 1700000000. 00 to step down from the board of directors give up his Voting Rights and walk away from the company the week company is now focused on cutting costs in order to survive selling off excess and nonessential portions of the business several of the startups it acquired are for sale and it is now gary for more massive layoffs but with the money running out we work is running into a catch 22. 00 as it is so short on cash it doesnt have enough money to pay severance to the affected workers the company also said it would cease operating at school we grow after the school year. And to break down the latest episode in this corporate we bring back investigative journalist ben swan so soft and just saying more good money right after bad money and it reported that we work needed to command 24 1000000000. 00 in valuation just to break even for a soft bank so now that it has sunk another couple 1000000000 down theyre really doubling down on their bet and cost averaging down essentially so what do they plan on doing with we work after assuming control. Well thats a really good question i mean part of it is to get new leadership in there one of the top executives from soft banks are going to move in who also by the way was an executive with sprint they are going to actually take over kind of the path forward whats interesting about we work is its a company you mentioned that it doesnt have the money to do anything because it doesnt make any money its this is such an interesting story because you have a company that never made money it was a great idea its completely been funded on investment and now the c. E. O. Who drove it into the ground walks away with one point 7000000000. 00 and softbank is continuing to go after it thinking they can turn it into something maybe they can but were talking about having to get that valuation to at least 15000000000. 00 just to make up for the money theyre putting in right now. And weve always weve had this prevailing culture in the Digital Economy air of founders 1st right and we touched on this before Mark Zuckerberg built facebook you know on mosque built doors he created twitter and theyre used to being treated a savant and geniuses that can do things other people cant and they follow different rules from everybody else do you think though that this disaster changes that mentality and we may be turning toward something different. Well i think it changes the mentality of believing that companies can exist simply on the investment and never have to turn a profit and that they can be in a constant cycle of investment before hitting an i. P. O. I mean look if you are just any investor and someone comes to you when asked for money one of the 1st questions are going to ask is how much money are you making right now and why would this make money that is not the question thats been asked of the tech world for years and certainly not moving into an i. P. O. When they go to the public and say we want to offer this to you one thing that has not been required is that you can actually make money with your idea you can build out these fantastical things and then have them not turn a profit so we are in a very interesting time i think in terms of. Yes turning the corner on that because a lot of people would look at adam newman and say you know heres a guy who really drink his own koolaid and believed a lot of things about himself and hes the one who walks away with all the money nobody else is going to come out smelling like a rose here or maybe a soft bank if they can turn this thing around to make it work but for the other employees who were there most of the employees who are considered now not essential are going to be laid off theyre going to be significant layoffs of people losing their jobs as he walks away with his money because it wasnt real and so i think thats where were turning the corner is to say its enough of this kind of fantasy land tech world does it make money or doesnt it well before you start celebrating has paid a with this payout newman could have the potential to pocket 970000000. 00 after deducting both legal and liabilities but that hes actually still on the hook for about 2000000000. 00 it simply exposure and now we also have musk who recently testified under oath that he is also financially liquid so while half the world sees these guys as visionaries from here in looks like more like theyre total frauds and con artists for investors so why do we give them so much credit. Well we give them credit because they love still get to live the lifestyle as if they are truly billionaires who actually have something that is that is liquid and i think what we when we look at a lot of these companies is that you know a great example. Out of newman a guy who yes hes going to walk away with a bunch of money and then as you said he has extreme exposure but softbank is really cutting him a lot of deals and kind of funneling a lot of different money to him but interestingly soft thing by itself appears to not really make money gets not a 70 investor in fact most of the money soft bank is making is because they dont pay taxes in japan because they shift the losses between their companies and so theres a lot kind of if you look at them by themselves they dont necessarily make money theyre not necessarily brilliant when theyre doing so it feels like it feels i think to a lot of people like its a big shell game where these guys are able to live these lives and live as if they are unbelievably wealthy but there isnt actually money or value in anything theyre doing but i think we had to get to this point for some of this to come up at some point it has to crash at some point it has to come falling down i guess this is that point maybe this is where if it gets so you make it reaches the end of the line cryptocurrency analysts and investigative journalist means one thing going to break it what are these guys. What the odds of a traitress between china and the u. S. Still in limbo china is determined to become more selfreliant so that the u. S. Can no longer dangle the ads card over its head the ministry of science and technology recently revealed the hung on 71. 00 seeds that produce nearly 4 times the average yield for soybeans grown in china after multiple trials have concluded that the hybrid species could actually pas and one more resilient to harsh weather and this new hybrid species could help china get around the higher cost of importing soybeans more than 80 percent of soybean plantations why now use. We modified species that have been modified with a foreign gene to provide herbicide resistance but planting g. M. Crops is illegal in china so researchers had to find alternative ways to increase yields and reduce cost this team of researchers created new species from domesticated and wild hybrids by accelerating the mutations that occur in sunlight. And species these soybeans do not contain any foreign genes researchers then selected and boosted genes that they already had to improve feels enhance the civic traits such as strengthening the stock to help it thrive agricultural authorities have now approved commercial plantation of 171. And finally one big piece of loot in the massive one emptied scandal in malaysia has surfaced on action once again at the eye of the storm is a super yacht called tranquility formerly owned by fugitive financier low take joe alias jolo the missing man at the center of the one m. T. B. Scandal indonesian authorities seized the seafaring mansion in 28. 00 scene after mr lowe had fled eventually selling it to begin to group for 120 6000000. 00 a Bargain Basement price that mr low bidder really did known through a spokesperson saying a malaysian conglomerate has since rented the boat to ultra rich partiers but now again soon will try a 2nd time to auction the storied ship for 200000000 dollars 70000000 dollars more than they asked for the 1st time malaysian authorities may want to look out for straw buyers for joe low and well thats only good prices 200 dollars 200000000 dollars for a yacht i mean i dont even know why you want to spend so much on a yacht when like 10 percent of that price is simply on upkeep not to keep on like actually piloting that they and how i think renting is much Better Business where i mean it was only commonly bought at 126 and i in through stand its to its tied to a scandal but. I dont think joe lhota me frank doesnt really have that sizzle to make it a collectible really its fascinating what people like to buy that by this time you can catch boom bust on directv channel 321 dish network to 87 on plenty of the free t. V. Ads tell to 79 or you can always catch us at youtube dot com slash promo starting. It seems the breaks it saw go will never end the electorate voted to leave the European Union but the Political Class and media are resistant does the peoples voice mean anything anymore what is the legacy of breaks it on institutions competence and in leeds and the democratic process. This is a stick from the water bottle phone in the stomach of a fish the brand is part of the Cocacola Company which sells millions of bottles of soda every day the idea was that lets tell consumers there are the bad was there the litter bugs are throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. As soon as. Their class is. A special kind of just funding me. On i knew that that is the end of it for the team but for now the mountains of waste only grow higher. Join me every 1st week on the alex simon shore and ill be speaking to guest of the. All the politics Small Business im show business ill see of that. You know world of big part of the new lot and conspiracy its time to wake up to dig deeper to hit the stories that Mainstream Media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the back and shouting past each other its time for Critical Thinking its time to fight for the middle for the truth the time is now were watching closely watching the hawks. Facebook and google started with a great idea and great ideals unfortunately it was also a very dark side. They are constructing a profile of you and that profile is real its detailed and it never goes away turns out that google is manipulating your opinions from the very 1st character that you type into the search bar it will always favor one dog food over another one comparative Shopping Service over another and one candidate over another they can suppress certain types of results diced on what they think you should be see if they have this kind of power then democracy is an illusion the free and Fair Election doesnt exist the more road we give them the sooner we are all hand. 6 hours of martin talks between the president s of russia and the result of a new plan for syria the. Syrian peace project johnsons time table triggering in the baits over the withdrawal bill on your way to the e. U. Decision over a deadline to lay. Off facebook launches a crusade against foreign interference in the 2020 u. S. Selection new package of Counter Measures including flagging state run media accounts