around thirty percent something that makes it difficult for people living here to buy some basic food items like bread half and me. a few days ago there was an attempt to loot a supermarket in the neighborhood similar situations happened in other parts of argentina congo we were working and heard screaming these young kids between fifteen and twenty they tried to enter the market and loot it's an example of how sensitive the situation is and it seems that the crisis on t.v. every day is adding to the difficulties we already face we are all suffering but some groups feel they have the right to go out and loot the government of market he is struggling to prevent an economic collapse and has announced a steri to measures to reduce the fiscal deficit makea had acknowledged poverty rates are on the rice and announced he will give extra cash handouts for the poor usefulness in young but a lot of the incest says much more needs to be done by that impetus isn't for us

for stopping inflation is crucial right now but that's not going to solve everything there has to be an increase in local production to generate jobs or that we need to see a creation of state polls sees a government of the clarity and humility to call on all sectors to cooperate with. the possibility of further rice in household basics i have many in argentina fearing for the future in the meantime there are those who are suffering the consequences of the crisis right now. well joining us now from lisbon in portugal via skype is richard segal richard's senior emerging markets analyst with manulife asset management richard welcome back to counting the cost whatever machree seems to do to try to prop up the pace so it doesn't work why is that and is this beyond him there are three or four reasons i would say it it stabilized for now that. around forty to the dollar but it is great for actual among these factors

are forthcoming elections the very uncertain international environment including fed policy in the future the brazilian elections in a few months but also just the general unease in argentina about returning to the i.m.f. in the l.a. us ability of capital flight. ten ten years old richard from the financial crisis. i mean ousted is not the only emerging market to be in trouble tookey is a problem too. what's the danger here are we likely to see a contagion do you think the problems in these two countries are feeding off themselves weakness in argentina leads to that issue of weakness in turkey and back and forth and this leads a lot of investors in the local markets to fail because they don't want to take that chance in addition they can only encourage more risk especially as these two

countries have lower ratings for the time being the contagion in the local markets as an impact on those investors but not so much on the real economies because countries such as india brazil in it nisha do have a lot of buffers on my turf in argentina but the big risk that we see moving forward is really the brazilian elections because the two major candidates are not known for the markets our exposed is the international investment community too often team is economy in argentina has already defaulted on its debt before could it happen again it certainly could because argentina was true as not of the markets for so long it's waiting is still relatively low and therefore the impact is more going to be on. investors locally but also foreign direct investment is

the chances of a default near term because they do have good relations with the i.m.f. but i think what needs to happen for the time being is that there needs to be a greater burden sharing it had up to now mostly been on foreign investors and local taxpayers it needs to be more on the corporate sector which has been receiving a lot of subsidies generally for example to invest in energy and electricity where they hadn't been any investment for ten or twelve years but also the foreign direct investment investors who are going to have to bear some of the additional losses but that fifty billion dollars i.m.f. loan is that going to be enough to fix and tina's economy it will be but looking back to previous balance of payments crises of this nature whether it's russia mexico twenty four years ago indonesia and the like

the important thing is that the measures need to be taken up front but you won't know whether they will be successful for six or twelve months and there will always be aftershocks the main thing to do is just to maintain confidence stick with the program because if it is the right program and chances are that in argentina they are moving in the right direction but be patient and not expect any overnight successes richard really good to talk to you on counting the cost as always many thanks indeed for being with us thank you. well argentina's sinking economy and currency crash is starting to have a negative impact on one of latin america's most stable economies neighboring chile has seen its pace a slump in what's being called the tango effect a latin america and its reports. sent gallo's close to net a center is one of latin america's largest and most modern shopping malls until

recently it was full of origin times conspicuous because they'd come with suitcases to shop till they dropped and now they're still conspicuous by their absence. argentina represents fifty two percent of our tourism maybe we've been too dependent on them because when they fall into their periodic economic crisis the empacher here is very strong. the fallout from argentina's currency crash has already reached chile arguably latin america's most stable economy. at a five star hotel but. for us the drop in tourism will be terrible but especially now that the summer is coming we callen are going to give us work and the so-called tangle effect goes further. there is a direct impact on a large number of chilean companies who've invested significantly in argentina their stocks have dropped and so will their profits it also affects trade because

now it has become more difficult to export to argentina. while the overall impact may not be devastating it comes at a very bad time chile's currency has dropped to a two year low because of the international trade conflict and that sharply push down the price of copper chillies primary export. argentina the economy here and much better place to ride out adverse international conditions but in these times of global economies when a neighbor like argentina gets pneumonia tilly at the very least catches a bad call. still to come on counting the cost netflix is showing six films at this year's venice film festival but not everyone is happy about it. but first some of the stories catching our eye this week in the stock market valuation hit the trillion dollar mark giving it entry to a club with only one other member apple shares in the online retailer trading at

around two hundred seven times current earnings that means that shareholders believe it will stay profitable in the future c.e.o. jeff bezos is now the richest person in modern times if you account for inflation but the company he founded is being criticized by u.s. politician bernie sanders the sellers of claims that amazon doesn't pay its low level employees a fair wage something that amazon says is misleading. worries are growing about weak money laundering controls across the european union a small regional branch of a bank denmark's biggest lender has been setting off alarm bells as much as thirty billion dollars from russia and other former soviet countries flowed through the branch in a single year according to reports the branch in question is located in estonia. and the term pre-crime was famously invented by a science fiction writer philip k. dick it's a concept that's coming closer to reality japan wants to test how efficient

technology like artificial intelligence is at predicting the likelihood of future crimes including economic ones national police agency is set to request a million dollars for a pre-crime experiment in its budget for twenty nine thousand. some consumers set fire to their nike trainers this week and it's all because of a new ad campaign al-jazeera as kristen salumi reports from new york. believe in something even if it means sacrificing everything nike's new just do it ad campaign is proving as controversial as one of the stars chosen to deliver it former national football league quarterback collin capper nick he hasn't played football since repeatedly refusing to stand for the national anthem before games during the two thousand and sixteen season prompting other players to follow suit not only my burning in my favorite pair a nike is your burning your sales ad like the protests have provoked anger among

some n.f.l. fans and president donald trump they consider it disrespectful to the american flag and the military some have called for a boycott of nike products nike is no culling but supporters say it's meant to call attention to racial injustices and is respectful expression of the speech nike which has a contract with the n.f.l. to supply uniforms and sideline clothing appears to be taking their side also announcing a new catalogue of caffeine excuse in t. shirts. sports branding experts say it's a calculated business decision to my take that going to be a rallying cry for those people to come and support nike ford has done because it's bold it's brave it has risks we want that from brands we expect that from brands and nike is the kind of brand where you demanded to be on the edge all the time the former quarterback says team owners have colluded to keep him off the football field and if all ratings have been in decline though the reason is open to debate.

the n.f.l. has struggled to come up with a policy regarding conduct during the national anthem that satisfies both players and critics such as the president and with the opening game of the season scheduled for thursday fans are just as likely to be focused on the sidelines as they are on what's happening on the field well back in one thousand nine hundred one like he was on the pressure from activists to change the terrible conditions in its factories and in. it was forced to make changes or lose customers and investors and consumers are increasingly searching for ways to find out just how ethical brands really are ethical watchdogs say that companies from big tech to big oil need to drastically improve transparency on their environmental and social impact as awareness about these issues grows so too is interest in something called ethical investing or ethical investing is no longer just about avoiding the so-called sin stocks gambling alcohol and guns monitoring the social and environmental and

governments of companies is a growing trend but kinsey it's estimated that a quarter of the eighty eight trillion dollars of assets under management globally is not invested in these kinds of assets norway has the biggest sovereign wealth fund in the world and it's signed up but does doing good in your investment portfolio improve your bank balance we don't know yet as there isn't enough information and all investments have risks but increasingly activist investors putting pressure on companies to adopt e.s.d. practices in order to improve long term performance and company culture at a future generation of investors is paying attention triode us bank says that nearly half of eighteen to thirty four year olds in the u.k. plan to invest in a socially responsible investment fund joining us now from london patrick connelly patrick is a chartered financial planner with chase to via an independent financial advice

company could have you with patrick first of all what exactly do we mean by ethical or responsible investment. that's the some really good question ethical investing is on a journey the first ethical fund was not by friends provident in one thousand nine hundred four at the time it was probably unfairly dubbed the brazil fund because the argument was that you have to be nuts to want to invest into it traditional ethical investing is about excluding sectors which which are deemed to do harm susceptible such as weapons manufacturing or coal gambling tobacco the idea being that if you invested in those you're missing out on some high growth areas and if you're missing out hybrid areas that is probably not a very good investment proposition now what's happened in recent times is the concept of ethical investing has changed and is nardelli being replaced by something called e s he the e.s.d.

stands for environmental social and governance and what companies do is look is look to invest in firms that make a positive contribution to the environment to society and have strong governance measures things like diversification and equality so we're on a journey now from excluding sectors we don't like to investing in companies that we do like at and who are adopting the right approaches which which is seem to be a more positive a positive approach now back in the one nine hundred eighty s. of course greed was good is that still the case is it twenty eighteen or have investors developed a conscience committee commanche we make money out of the investments. and that is a key question because traditionally ethical investments were deemed to be a compromise between your principles on one side and the profits you want to make on the other that again has changed and the argument with the s.g.e. is that if you're investing in companies the earth docked in the right practices

then in the longer term they will be the more successful companies the proof or the putting isn't yet seen we don't yet know how that plays itself out but people can i win best in these companies and in these funds without the starting point that actually they're probably gonna lose out by doing so so the answer is yes hopefully there is more scope one to invest your principles but also to to invest in a profitable way do we know who is investing in these areas chief funds and companies is it just below the ils or or are in older investors getting on board to . millennial seem to be the main area where there is interest in the sector. it does seem that the youth of today perhaps are more conscious about a lot of issues that people who are older unfortunately is older people tend to have more money so it's older people who have more influence in terms of inflows we do see certain sectors of society in terms of older people who are investing more

for example the company i work for a service for the medical profession and we get lots of doctors who are interested in investing ethically now that may well be because of the altruistic nature of what they do the harm that they see that gambling lots of back a world whole does and so a lot of doctors for example do invest ethically that's not really as as yet transmitting itself through older investors and so while there is more interest in that kind of vesting the manuals as they build wealth going forwards you would hope and expect to see that actually translated into more money being invested what about corporate culture itself it is is that changing jews the fact that people are now essentially talking with their money and holding companies to account they want to be able to trust the companies that they're investing in. yes it's not changing yet or at least not to any great degree it's gradually changing what we are seeing is investment companies being more activist they're going out there and demanding

that companies act in the right way we see that a lot in the news with things like executive pay and bonuses and the like where shareholders now are standing up and objecting to that that is a trend that should continue as a trend it looks very likely to continue for two reasons one as as you alluded to as well money goes into these funds as millennia more wealth then shareholders and group shareholders will have more influence also number two is with traditional ethical investments people have x. and had to make an active decision to invest in them they have to decide i want to invest at the cli whereas with the s. g. firms are now starting to adopt the s.g. in their general investment process and so investors can be investing in the s.t. perhaps without realizing it but what that means is there's more money behind that approach and more influence that these companies will have when they're dealing with the companies they're investing in so how important is it patrick for investors to understand the the different nuances of of the funds that they're

investing in to do we really know what we're buying with with e.s.d. assets. we really don't. we with regard to ethical investments it was pretty clear you knew you were avoiding weapons manufacturers and alcohol it's a bacco in gambling and all these things a.s.g. is far more subjective different companies are adopting entirely different approaches to it and also in terms of the strictness as well so it's all well and good for investment firms to say yes we take account of yes jean our vestment process but do they take account of it and use it or do they take it had to ignore it and you any way that you can be sure that it is either one by doing your research or to by using an investment professional who do that research for you but at the moment it's grey at the moment is subjective at a moment it's quite new and so we need to see more developments in that area fascinating patrick many thanks indeed for being with us on counting the cost but no promise oh and finally this week the internet movie maker netflix made its

presence felt on the red carpet at this year's venice film festival but allowing streaming services into the competition is not something that everyone's happy about that the barber reports from venice. venice a city known for its unchanging beauty but over at the international film festival they're moving boldly into the future but that's what the organizers say anyhow they put on a record six films backed by the online platform netflix including the latest coen brothers film and the seminal and all i don't like you want on the alessio criminy nice crime drama on my skin based on a real life case of a death in police custody it will be released on the same day on netflix and in italian movie theaters. but for most of the netflix films including this newly finished final film from the late olsen wells it's not clear how widely they'll be screened and for how long and that's worrying some in the industry who are involved in nurturing new talent that business model

and if netflix keeps going to it's going with a place for everybody else in the room. in a cinematic process and has a lot of integrity in the way that it develops and includes and ultimately not experiences for everyone to be in a cinema this week the international confederation of art cinema is urged venice to reserve competition slots for quote works of art that will be seen in cinemas internationally but for this venice veteran it's time for change or approve of netflix proving them as an unproven anybody who's prepared to give money to people who make films who would otherwise not get the money. so i don't think it'll make any difference to a lot of the type of films being made because netflix will keep on saying you can make the film as you want. here at venice is industry section business is brisk as people look for a deal to support their films or their ideas more and more of those deals are being

struck with online platforms like netflix and amazon which means more fields that the public can choose to see either. the cinema or on devices like their smartphones. but the man heading this part of the festival rejects worries that netflix will make it harder for independent filmmakers to break through i would say that's just not so for us choice for them but for some us approach. of course. to have to make business was. netflix didn't have anyone for us to talk to in venice but it's clear that in just a few years they've shaken up the industry and the real impact is still being debated. for counting the cost. and that is our show for this week if you want to get in touch with us about anything you've seen on the program you can tweet me i'm at a finnigan on twitter please use the hash tag a j c t c when you can do or you can

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. also wanted to be disappointed not to be lives important to make that point very clear. a death sentence confirmed for seventy five people a leading preacher among them over a twenty thirteen sittin in the egyptian capital plus. i'm joined now in sweden a country anticipating its most important election in years a battle over values and identity with the rise of the far right. the sports rafael nadal's defense of his u.s. open title comes to an end as he's finally defeated by a bad name all the semifinal action from new york coming up lights. and attempts to search for an end to the war in. yemen has come to an end before it had even begun the official government delegation is leaving the swiss city of geneva after waiting two days for the who the rebel representatives to join the

u.n. brokered talks the hooty say they didn't fly to switzerland because of concerns about their safety they didn't have a plane or permission from u.s. and saudi governments to leave yemen but the u.n. special envoy says he does remain hopeful we going to. take up the issues that we will have discussed here this is what i mean by we have begun this is what i mean by we have begun. it's too early for me to say when the next round of consultations will take place or will be held that's obviously going to be high on the agenda to so that we don't go through a repeat of this week and i think it's important to note that. answer also wanted to be disappointed not to be it's important to make that point very clear. we have had extensive discussions with their representatives. and did must got this

past week and i've no doubt about that whatever you may think and they're very keen to take this process forward and so is the international community who are who are remarkably united anderson's has been covering the conflict in yemen he's monitoring things from neighboring djibouti will speak to him in a moment but first to david chase the engineer where the talks were supposed to take place david you've been speaking to a member of the yemen government delegation what did he say. it's not exactly what anybody wants to hear it's not exactly what the people of the yemen themselves want to hear but he said essentially that trust is not being built between them it's being widened this was meant to be a framework for peace it was meant to bring trust between the two sides about the member of the delegation who i spoke to said that essentially now the yemen

government think that the only way to get the who to rebel delegation to the negotiating table is to force them to the table and he pointed out that the one thing that really is the choke point for the who teased in the north of yemen is the port of her data and he said that you can expect increased activity military activity to try and cut off that source of supply to the who tease and to their economy and not only to their quantity would of course that would also mean that the supplies of relief aid and vaccinations and medicine would also be cut off so that is not a promising start and it clearly shows that the line from the yemeni government is hardening here's what the leader of the delegation the government's foreign minister had to say you couldn't. each time these talks face a wall of irresponsibility by these coup plotters these groups who are exploiting

the international efforts of the yemeni government to reach peace they are being totally irresponsible the special envoy was unfortunately accommodating the coup plotters and giving them excuses the statements of mr martin griffiths with us and other partners had expressed his dissatisfaction with their unjustified position i feel i need to thank the government delegation for its work despite the many many provocations and david the u.n. special envoy was reluctant to apportion blame for the. collapse of the talks so what happens next. yes he says he's not in the business of apportioning blame he's in the diplomacy business but it's very clearly expose the huge rift between the two warring sides so instead of building confidence we've seen the opposite the situation is worsening there's a hardening in the edge of the tone in the comments from the yemeni government

delegation and as i said before it looks like there could well be an escalation on the ground and in the fighting because the yemeni government delegation say that essentially it's the hutu rebels who are panicking because the coalition led by saudi arabia on the ground is gaining ground from them and as a as i say they're going to try and force them to the negotiating table but there has been no military solution the situation in yemen has been getting worse and worse and hope the flickering hope that the envoy hope to give to the people of yemen has been extinguished. david many thanks hours is there a state a change of the life in geneva let's take you now to djibouti and simmons and what are the who things saying about why that delegation failed to travel to geneva. nothing official yet they said on many occasions that the reason was safe passage

and preconditions they had agreed with the united nations and of course we've heard from martin griffith and he's explaining he's not going into it as david touched on there but really the situation now as david also pointed out is well whether it's extinguishment or not it is grim it certainly is and right up to the last moment these attempts at trying to revive plans to get the rebel delegation to geneva there were even bigger demonstrations right across yemen both in the north and the south in sana'a this was a seeing. another protest over a shattered economy much bigger than previous demonstrations this is the duty rebel held capital city of sana'a what. they want to starve our people to death

shame on them we will triumph no matter what the saudi and american enemies do. in government held areas in aden and southern yemen here the aftermath of the six days of protests with shops all closed down but central to whichever side people are on isn't so much the cost of living it's the cost of survival demonstrations continue for and against the saudi u.s. a coalition backed government and different reasoning for some of the unrest there's anger as shown by those joining the fighting this man says fighting for the u.a.e. earns a fraction of the money paid to those fighting for the saudis and with the currency worth so little now it isn't enough. we want our burning tires because our people are exhausted compared to those in a saudi salary we find prices extremely high hunger and everything else is here we are protesting. what we call corruption and the situations we do yemeni people have

to suffer they store fuel from the petrol stations and sell on the black market people keep the days to get fuel back in santa suit is united with their enemies in one interest getting by here in the old market plenty of produce but it can only be afforded by a minority with enough cash in yemen it's the unspoken thoughts of such a vast number of civilians the hungry the bereaved the injured the destitute that could speak so much louder than all the protest slogans one n.g.o.s tried to convey some of the thoughts of those people by saying this it's time to put aside strategic and political ambitions and consider the future of yemen and the children all of those children who have been so recklessly treated. this is a country in a deeper crisis than ever before. well you heard martin griffis

say earlier that he could not predict when the negotiations will resume or even take place should i say he of course is traveling to amman where he will meet some members of the rebel hooty. well intended delegation and he hopes to travel to santa but really it has to be said it's the old story sadly in conflict it's what happens on the battlefield that can really count and also it's compliance possibly in geneva by one side noncompliance possibly in santa or although they insist that they couldn't get safe passage and delivery of injured to oman and they feel the hooty is feel that they are being sidelined in many ways it is impossible to get to the real detail underneath the rhetoric and possibly the posturing is it really a situation whereby the who it is. renay somehow they say they haven't

martin griffis is being very very careful in his language he's saying this is not a blame game however what about the saudi u.a.e. that coalition are they really intent on pulling back certainly from what we're hearing and david touched on this no is the answer to that and it does.